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the environmental liability includes costs for remediation and restoration of sites , as well as for ongoing monitoring costs , but excludes any anticipated recoveries from third parties .cost estimates are based on information available for each site , financial viability of other potentially responsible parties , and existing technology , laws , and regulations .we believe that we have adequately accrued for our ultimate share of costs at sites subject to joint and several liability .however , the ultimate liability for remediation is difficult to determine because of the number of potentially responsible parties involved , site-specific cost sharing arrangements with other potentially responsible parties , the degree of contamination by various wastes , the scarcity and quality of volumetric data related to many of the sites , and the speculative nature of remediation costs .estimates may also vary due to changes in federal , state , and local laws governing environmental remediation .we do not expect current obligations to have a material adverse effect on our results of operations or financial condition .guarantees 2013 at december 31 , 2006 , we were contingently liable for $ 464 million in guarantees .we have recorded a liability of $ 6 million for the fair value of these obligations as of december 31 , 2006 .we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations .the final guarantee expires in 2022 .we are not aware of any existing event of default that would require us to satisfy these guarantees .we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity .indemnities 2013 our maximum potential exposure under indemnification arrangements , including certain tax indemnifications , can range from a specified dollar amount to an unlimited amount , depending on the nature of the transactions and the agreements .due to uncertainty as to whether claims will be made or how they will be resolved , we cannot reasonably determine the probability of an adverse claim or reasonably estimate any adverse liability or the total maximum exposure under these indemnification arrangements .we do not have any reason to believe that we will be required to make any material payments under these indemnity provisions .income taxes 2013 as previously reported in our form 10-q for the quarter ended september 30 , 2005 , the irs has completed its examinations and issued notices of deficiency for tax years 1995 through 2002 .among their proposed adjustments is the disallowance of tax deductions claimed in connection with certain donations of property .in the fourth quarter of 2005 , the irs national office issued a technical advice memorandum which left unresolved whether the deductions were proper , pending further factual development .we continue to dispute the donation issue , as well as many of the other proposed adjustments , and will contest the associated tax deficiencies through the irs appeals process , and , if necessary , litigation .in addition , the irs is examining the corporation 2019s federal income tax returns for tax years 2003 and 2004 and should complete their exam in 2007 .we do not expect that the ultimate resolution of these examinations will have a material adverse effect on our consolidated financial statements .11 .other income other income included the following for the years ended december 31 : millions of dollars 2006 2005 2004 .
[['millions of dollars', '2006', '2005', '2004'], ['rental income', '$ 83', '$ 59', '$ 55'], ['net gain on non-operating asset dispositions', '72', '135', '69'], ['interest income', '29', '17', '10'], ['sale of receivables fees', '-33 ( 33 )', '-23 ( 23 )', '-11 ( 11 )'], ['non-operating environmental costs and other', '-33 ( 33 )', '-43 ( 43 )', '-35 ( 35 )'], ['total', '$ 118', '$ 145', '$ 88']]
.
|
in 2006 what was the total other income less fees
|
184
|
{
"answer": "184",
"decimal": 184,
"type": "float"
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| |
reduced administrative expense .in connection with this project , we eliminated 749 positions .we incurred $ 54.7 million of net expenses , most of which was cash .we recorded $ 0.4 million of restructuring charges relating to this action in fiscal 2018 , restructuring charges were reduced by $ 0.4 million in fiscal 2017 , and we incurred $ 54.7 million of restructuring charges in fiscal 2016 .this action was completed in fiscal 2018 .in fiscal 2015 , we announced project century ( century ) which initially involved a review of our north american manufacturing and distribution network to streamline operations and identify potential capacity reductions .in fiscal 2016 , we broadened the scope of century to identify opportunities to streamline our supply chain outside of north america .as part of century , in the second quarter of fiscal 2016 , we approved a restructuring plan to close manufacturing facilities in our europe & australia segment supply chain located in berwick , united kingdom and east tamaki , new zealand .these actions affected 287 positions and we incurred $ 31.8 million of net expenses related to these actions , of which $ 12 million was cash .we recorded $ 1.8 million of restructuring charges relating to these actions in fiscal 2017 and $ 30.0 million in fiscal 2016 .these actions were completed in fiscal 2017 .as part of century , in the first quarter of fiscal 2016 , we approved a restructuring plan to close our west chicago , illinois cereal and dry dinner manufacturing plant in our north america retail segment supply chain .this action affected 484 positions , and we incurred $ 109.3 million of net expenses relating to this action , of which $ 21 million was cash .we recorded $ 6.9 million of restructuring charges relating to this action in fiscal 2018 , $ 23.2 million in fiscal 2017 and $ 79.2 million in fiscal 2016 .this action was completed in fiscal 2018 .as part of century , in the first quarter of fiscal 2016 , we approved a restructuring plan to close our joplin , missouri snacks plant in our north america retail segment supply chain .this action affected 125 positions , and we incurred $ 8.0 million of net expenses relating to this action , of which less than $ 1 million was cash .we recorded $ 1.4 million of restructuring charges relating to this action in fiscal 2018 , $ 0.3 million in fiscal 2017 , and $ 6.3 million in fiscal 2016 .this action was completed in fiscal 2018 .we paid cash related to restructuring initiatives of $ 53.6 million in fiscal 2018 , $ 107.8 million in fiscal 2017 , and $ 122.6 million in fiscal 2016 .in addition to restructuring charges , we expect to incur approximately $ 130 million of project-related costs , which will be recorded in cost of sales , all of which will be cash .we recorded project-related costs in cost of sales of $ 11.3 million in fiscal 2018 , $ 43.9 million in fiscal 2017 , and $ 57.5 million in fiscal 2016 .we paid cash for project-related costs of $ 10.9 million in fiscal 2018 , $ 46.9 million in fiscal 2017 , and $ 54.5 million in fiscal 2016 .we expect these activities to be completed in fiscal 2019 .restructuring charges and project-related costs are classified in our consolidated statements of earnings as follows: .
[['in millions', 'fiscal 2018', 'fiscal 2017', 'fiscal 2016'], ['cost of sales', '$ 14.0', '$ 41.5', '$ 78.4'], ['restructuring impairment and other exit costs', '68.7', '182.6', '151.4'], ['total restructuring charges', '82.7', '224.1', '229.8'], ['project-related costs classified in cost ofsales', '$ 11.3', '$ 43.9', '$ 57.5']]
.
|
what are the total restructuring charges for the last three years?
|
536.60
|
{
"answer": "536.60",
"decimal": 536.6,
"type": "float"
}
| |
17 .leases we lease certain locomotives , freight cars , and other property .the consolidated statements of financial position as of december 31 , 2017 , and 2016 included $ 1635 million , net of $ 953 million of accumulated depreciation , and $ 1997 million , net of $ 1121 million of accumulated depreciation , respectively , for properties held under capital leases .a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income .future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2017 , were as follows : millions operating leases capital leases .
[['millions', 'operatingleases', 'capitalleases'], ['2018', '$ 398', '$ 173'], ['2019', '359', '156'], ['2020', '297', '164'], ['2021', '259', '168'], ['2022', '221', '147'], ['later years', '1115', '271'], ['total minimum lease payments', '$ 2649', '$ 1079'], ['amount representing interest', 'n/a', '-187 ( 187 )'], ['present value of minimum lease payments', 'n/a', '$ 892']]
approximately 97% ( 97 % ) of capital lease payments relate to locomotives .rent expense for operating leases with terms exceeding one month was $ 480 million in 2017 , $ 535 million in 2016 , and $ 590 million in 2015 .when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term .contingent rentals and sub-rentals are not significant .18 .commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries .we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity .to the extent possible , we have recorded a liability where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated .we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters .personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year .we use an actuarial analysis to measure the expense and liability , including unasserted claims .the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents .under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements .we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work .our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments .approximately 95% ( 95 % ) of the recorded liability is related to asserted claims and approximately 5% ( 5 % ) is related to unasserted claims at december 31 , 2017 .because of the uncertainty surrounding the ultimate outcome of personal injury claims , it is reasonably possible that future costs to settle these claims may range from approximately $ 285 million to $ 310 million .we record an accrual at the low end of the range as no amount of loss within the range is more probable than any other .estimates can vary over time due to evolving trends in litigation. .
|
as of december 31 , 2017 what was the percent of the total non-cancelable lease terms in excess of one year due in 2019
|
13.8%
|
{
"answer": "13.8%",
"decimal": 0.138,
"type": "percentage"
}
| |
increase .in north america , contract generation segment revenues increased $ 46 million .in the caribbean ( which includes venezuela and colombia ) , contract generation segment revenues increased $ 11 million , and this was due to a full year of operations at merida iii offset by a lower capacity factor at los mina .competitive supply revenues increased $ 300 million or 13% ( 13 % ) to $ 2.7 billion in 2001 from $ 2.4 billion in 2000 .excluding businesses acquired or that commenced commercial operations in 2001 or 2000 , competitive supply revenues increased 3% ( 3 % ) to $ 2.4 billion in 2001 .the most significant increases occurred within north america and the caribbean .slight increases were recorded within south america and asia .europe/africa reported a slight decrease due to lower pool prices in the u.k .offset by the start of commercial operations at fifoots and the acquisition of ottana .in north america , competitive supply segment revenues increased $ 184 million due primarily to an expanded customer base at new energy as well as increased operations at placerita .these increases in north america were offset by lower market prices at our new york businesses .in the caribbean , competitive supply segment revenues increased $ 123 million due primarily to the acquisition of chivor .large utility revenues increased $ 300 million , or 14% ( 14 % ) to $ 2.4 billion in 2001 from $ 2.1 billion in 2000 , principally resulting from the addition of revenues attributable to businesses acquired during 2001 or 2000 .excluding businesses acquired in 2001 and 2000 , large utility revenues increased 1% ( 1 % ) to $ 1.6 billion in 2001 .the majority of the increase occurred within the caribbean , and there was a slight increase in north america .in the caribbean , revenues increased $ 312 million due to a full year of revenues from edc , which was acquired in june 2000 .growth distribution revenues increased $ 400 million , or 31% ( 31 % ) to $ 1.7 billion in 2001 from $ 1.3 billion in 2000 .excluding businesses acquired in 2001 or 2000 , growth distribution revenues increased 20% ( 20 % ) to $ 1.3 billion in 2001 .revenues increased most significantly in the caribbean and to a lesser extent in south america and europe/africa .revenues decreased slightly in asia .in the caribbean , growth distribution segment revenues increased $ 296 million due primarily to a full year of operations at caess , which was acquired in 2000 and improved operations at ede este .in south america , growth distribution segment revenues increased $ 89 million due to the significant revenues at sul from our settlement with the brazilian government offset by declines in revenues at our argentine distribution businesses .the settlement with the brazilian government confirmed the sales price that sul would receive from its sales into the southeast market ( where rationing occurred ) under its itaipu contract .in europe/africa , growth distribution segment revenues increased $ 59 million from the acquisition of sonel .in asia , growth distribution segment revenues decreased $ 33 million mainly due to the change in the way in which we are accounting for our investment in cesco .cesco was previously consolidated but was changed to equity method during 2001 when the company was removed from management and the board of directors .this decline was partially offset by the increase in revenues from the distribution businesses that we acquired in the ukraine .aes is a global power company which operates in 29 countries around the world .the breakdown of aes 2019s revenues for the years ended december 31 , 2001 and 2000 , based on the geographic region in which they were earned , is set forth below .a more detailed breakdown by country can be found in note 16 of the consolidated financial statements. .
[['', '2001', '2000', '% ( % ) change'], ['north america', '$ 3.6 billion', '$ 3.4 billion', '6% ( 6 % )'], ['south america', '$ 1.7 billion', '$ 1.1 billion', '55% ( 55 % )'], ['caribbean*', '$ 1.9 billion', '$ 1.1 billion', '73% ( 73 % )'], ['europe/africa', '$ 1.4 billion', '$ 1.3 billion', '8% ( 8 % )'], ['asia', '$ 693 million', '$ 615 million', '13% ( 13 % )']]
* includes venezuela and colombia. .
|
total americas segment revenues were how much ( in billions ) in 2001?
|
5.3
|
{
"answer": "5.3",
"decimal": 5.3,
"type": "float"
}
| |
52 2018 ppg annual report and 10-k 1 .summary of significant accounting policies principles of consolidation the accompanying consolidated financial statements include the accounts of ppg industries , inc .( 201cppg 201d or the 201ccompany 201d ) and all subsidiaries , both u.s .and non-u.s. , that it controls .ppg owns more than 50% ( 50 % ) of the voting stock of most of the subsidiaries that it controls .for those consolidated subsidiaries in which the company 2019s ownership is less than 100% ( 100 % ) , the outside shareholders 2019 interests are shown as noncontrolling interests .investments in companies in which ppg owns 20% ( 20 % ) to 50% ( 50 % ) of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting .as a result , ppg 2019s share of income or losses from such equity affiliates is included in the consolidated statement of income and ppg 2019s share of these companies 2019 shareholders 2019 equity is included in investments on the consolidated balance sheet .transactions between ppg and its subsidiaries are eliminated in consolidation .use of estimates in the preparation of financial statements the preparation of financial statements in conformity with u.s .generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported amounts of income and expenses during the reporting period .such estimates also include the fair value of assets acquired and liabilities assumed resulting from the allocation of the purchase price related to business combinations consummated .actual outcomes could differ from those estimates .revenue recognition revenue is recognized as performance obligations with the customer are satisfied , at an amount that is determined to be collectible .for the sale of products , this generally occurs at the point in time when control of the company 2019s products transfers to the customer based on the agreed upon shipping terms .shipping and handling costs amounts billed to customers for shipping and handling are reported in net sales in the consolidated statement of income .shipping and handling costs incurred by the company for the delivery of goods to customers are included in cost of sales , exclusive of depreciation and amortization in the consolidated statement of income .selling , general and administrative costs amounts presented in selling , general and administrative in the consolidated statement of income are comprised of selling , customer service , distribution and advertising costs , as well as the costs of providing corporate-wide functional support in such areas as finance , law , human resources and planning .distribution costs pertain to the movement and storage of finished goods inventory at company-owned and leased warehouses and other distribution facilities .advertising costs advertising costs are expensed as incurred and totaled $ 280 million , $ 313 million and $ 322 million in 2018 , 2017 and 2016 , respectively .research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred. .
[['( $ in millions )', '2018', '2017', '2016'], ['research and development 2013 total', '$ 464', '$ 472', '$ 473'], ['less depreciation on research facilities', '23', '21', '20'], ['research and development net', '$ 441', '$ 451', '$ 453']]
legal costs legal costs , primarily include costs associated with acquisition and divestiture transactions , general litigation , environmental regulation compliance , patent and trademark protection and other general corporate purposes , are charged to expense as incurred .income taxes income taxes are accounted for under the asset and liability method .deferred tax assets and liabilities are recognized for the future tax consequences attributable to operating losses and tax credit carryforwards as well as differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases .the effect on deferred notes to the consolidated financial statements .
|
were 2017 advertising costs greater than r&d expenses?
|
no
|
{
"answer": "no",
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"type": "bool"
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| |
equity in net earnings of affiliated companies equity income from the m-i swaco joint venture in 2010 represents eight months of equity income through the closing of the smith transaction .interest expense interest expense of $ 298 million in 2011 increased by $ 91 million compared to 2010 primarily due to the $ 4.6 billion of long-term debt that schlumberger issued during 2011 .interest expense of $ 207 million in 2010 decreased by $ 14 million compared to 2009 primarily due to a decline in the weighted average borrowing rates , from 3.9% ( 3.9 % ) to 3.2% ( 3.2 % ) .research & engineering and general & administrative expenses , as a percentage of revenue , were as follows: .
[['', '2011', '2010', '2009'], ['research & engineering', '2.7% ( 2.7 % )', '3.3% ( 3.3 % )', '3.5% ( 3.5 % )'], ['general & administrative', '1.1% ( 1.1 % )', '1.1% ( 1.1 % )', '1.1% ( 1.1 % )']]
although research & engineering decreased as a percentage of revenue in 2011 as compared to 2010 and in 2010 compared to 2009 , it has increased in absolute dollars by $ 154 million and $ 117 million , respectively .these increases in absolute dollars were driven in large part by the impact of the smith acquisition .income taxes the schlumberger effective tax rate was 24.4% ( 24.4 % ) in 2011 , 17.3% ( 17.3 % ) in 2010 , and 19.6% ( 19.6 % ) in 2009 .the schlumberger effective tax rate is sensitive to the geographic mix of earnings .when the percentage of pretax earnings generated outside of north america increases , the schlumberger effective tax rate will generally decrease .conversely , when the percentage of pretax earnings generated outside of north america decreases , the schlumberger effective tax rate will generally increase .the effective tax rate for both 2011 and 2010 was impacted by the charges and credits described in note 3 to the consolidated financial statements .excluding the impact of these charges and credits , the effective tax rate in 2011 was 24.0% ( 24.0 % ) compared to 20.6% ( 20.6 % ) in 2010 .this increase in the effective tax rate , excluding the impact of the charges and credits , was primarily attributable to the fact that schlumberger generated a larger proportion of its pretax earnings in north america in 2011 as compared to 2010 as a result of improved market conditions and the effect of a full year 2019s activity from the acquired smith businesses .the effective tax rate for 2009 was also impacted by the charges and credits described in note 3 to the consolidated financial statements , but to a much lesser extent .excluding charges and credits , the effective tax rate in 2010 was 20.6% ( 20.6 % ) compared to 19.2% ( 19.2 % ) in 2009 .this increase is largely attributable to the geographic mix of earnings as well as the inclusion of four months 2019 results from the acquisition of smith , which served to increase the schlumberger effective tax charges and credits schlumberger recorded significant charges and credits in continuing operations during 2011 , 2010 and 2009 .these charges and credits , which are summarized below , are more fully described in note 3 to the consolidated financial statements. .
|
what was the percent growth or decline of research & engineering as a percent of revenue from 2010 to 2011
|
-18.2%
|
{
"answer": "-18.2%",
"decimal": -0.182,
"type": "percentage"
}
|
the growth rate is the difference in amounts from one period to another divided by the initial period
|
part ii price range our common stock commenced trading on the nasdaq national market under the symbol 201cmktx 201d on november 5 , 2004 .prior to that date , there was no public market for our common stock .the high and low bid information for our common stock , as reported by nasdaq , was as follows : on march 8 , 2006 , the last reported closing price of our common stock on the nasdaq national market was $ 12.59 .holders there were approximately 114 holders of record of our common stock as of march 8 , 2006 .dividend policy we have not declared or paid any cash dividends on our capital stock since our inception .we intend to retain future earnings to finance the operation and expansion of our business and do not anticipate paying any cash dividends in the foreseeable future .in the event we decide to declare dividends on our common stock in the future , such declaration will be subject to the discretion of our board of directors .our board may take into account such matters as general business conditions , our financial results , capital requirements , contractual , legal , and regulatory restrictions on the payment of dividends by us to our stockholders or by our subsidiaries to us and any such other factors as our board may deem relevant .use of proceeds on november 4 , 2004 , the registration statement relating to our initial public offering ( no .333-112718 ) was declared effective .we received net proceeds from the sale of the shares of our common stock in the offering of $ 53.9 million , at an initial public offering price of $ 11.00 per share , after deducting underwriting discounts and commissions and estimated offering expenses .except for salaries , and reimbursements for travel expenses and other out-of -pocket costs incurred in the ordinary course of business , none of the proceeds from the offering have been paid by us , directly or indirectly , to any of our directors or officers or any of their associates , or to any persons owning ten percent or more of our outstanding stock or to any of our affiliates .we have invested the proceeds from the offering in cash and cash equivalents and short-term marketable securities .item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities .
[['', 'high', 'low'], ['november 5 2004 to december 31 2004', '$ 24.41', '$ 12.75'], ['january 1 2005 to march 31 2005', '$ 15.95', '$ 9.64'], ['april 1 2005 to june 30 2005', '$ 13.87', '$ 9.83'], ['july 1 2005 to september 30 2005', '$ 14.09', '$ 9.99'], ['october 1 2005 to december 31 2005', '$ 13.14', '$ 10.64']]
.
|
according to the above listed holders of common stock , what was the market share of mktx common stock on march 8 , 2006?
|
$ 1435.26
|
{
"answer": "$ 1435.26",
"decimal": 1435.26,
"type": "money"
}
| |
dish network corporation notes to consolidated financial statements - continued recorded as a decrease in 201cincome tax ( provision ) benefit , net 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2013 .10 .discontinued operations as of december 31 , 2013 , blockbuster had ceased material operations .the results of blockbuster are presented for all periods as discontinued operations in our consolidated financial statements .during the years ended december 31 , 2013 and 2012 , the revenue from our discontinued operations was $ 503 million and $ 1.085 billion , respectively .201cincome ( loss ) from discontinued operations , before income taxes 201d for the same periods was a loss of $ 54 million and $ 62 million , respectively .in addition , 201cincome ( loss ) from discontinued operations , net of tax 201d for the same periods was a loss of $ 47 million and $ 37 million , respectively .as of december 31 , 2013 , the net assets from our discontinued operations consisted of the following : december 31 , 2013 ( in thousands ) .
[['', 'as of december 31 2013 ( in thousands )'], ['current assets from discontinued operations', '$ 68239'], ['noncurrent assets from discontinued operations', '9965'], ['current liabilities from discontinued operations', '-49471 ( 49471 )'], ['long-term liabilities from discontinued operations', '-19804 ( 19804 )'], ['net assets from discontinued operations', '$ 8929']]
blockbuster - domestic since the blockbuster acquisition , we continually evaluated the impact of certain factors , including , among other things , competitive pressures , the ability of significantly fewer company-owned domestic retail stores to continue to support corporate administrative costs , and other issues impacting the store-level financial performance of our company-owned domestic retail stores .these factors , among others , previously led us to close a significant number of company-owned domestic retail stores during 2012 and 2013 .on november 6 , 2013 , we announced that blockbuster would close all of its remaining company-owned domestic retail stores and discontinue the blockbuster by-mail dvd service .as of december 31 , 2013 , blockbuster had ceased material operations .blockbuster 2013 mexico during the third quarter 2013 , we determined that our blockbuster operations in mexico ( 201cblockbuster mexico 201d ) were 201cheld for sale . 201d as a result , we recorded pre-tax impairment charges of $ 19 million related to exiting the business , which was recorded in 201cincome ( loss ) from discontinued operations , net of tax 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2013 .on january 14 , 2014 , we completed the sale of blockbuster mexico .blockbuster uk administration on january 16 , 2013 , blockbuster entertainment limited and blockbuster gb limited , our blockbuster operating subsidiaries in the united kingdom , entered into administration proceedings in the united kingdom ( the 201cadministration 201d ) .as a result of the administration , we wrote down the assets of all our blockbuster uk subsidiaries to their estimated net realizable value on our consolidated balance sheets as of december 31 , 2012 .in total , we recorded charges of approximately $ 46 million on a pre-tax basis related to the administration , which was recorded in 201cincome ( loss ) from discontinued operations , net of tax 201d on our consolidated statements of operations and comprehensive income ( loss ) for the year ended december 31 , 2012. .
|
what is the tax expense related to discontinued operations in 2013?
|
7.0
|
{
"answer": "7.0",
"decimal": 7,
"type": "float"
}
| |
stock performance graph the following performance graph compares the cumulative total return ( including dividends ) to the holders of our common stock from december 31 , 2002 through december 31 , 2007 , with the cumulative total returns of the nyse composite index , the ftse nareit composite reit index ( the 201call reit index 201d ) , the ftse nareit healthcare equity reit index ( the 201chealthcare reit index 201d ) and the russell 1000 index over the same period .the comparison assumes $ 100 was invested on december 31 , 2002 in our common stock and in each of the foregoing indices and assumes reinvestment of dividends , as applicable .we have included the nyse composite index in the performance graph because our common stock is listed on the nyse .we have included the other indices because we believe that they are either most representative of the industry in which we compete , or otherwise provide a fair basis for comparison with ventas , and are therefore particularly relevant to an assessment of our performance .the figures in the table below are rounded to the nearest dollar. .
[['', '12/31/2002', '12/31/2003', '12/31/2004', '12/31/2005', '12/31/2006', '12/31/2007'], ['ventas', '$ 100', '$ 206', '$ 270', '$ 331', '$ 457', '$ 512'], ['nyse composite index', '$ 100', '$ 132', '$ 151', '$ 166', '$ 200', '$ 217'], ['all reit index', '$ 100', '$ 138', '$ 181', '$ 196', '$ 262', '$ 215'], ['healthcare reit index', '$ 100', '$ 154', '$ 186', '$ 189', '$ 273', '$ 279'], ['russell 1000 index', '$ 100', '$ 130', '$ 145', '$ 154', '$ 178', '$ 188']]
ventas nyse composite index all reit index healthcare reit index russell 1000 index .
|
what was the growth rate of reit index as of 12/31/2003
|
38%
|
{
"answer": "38%",
"decimal": 0.38,
"type": "percentage"
}
|
the growth rate is the change from year to year divided by the original year amount
|
bhge 2018 form 10-k | 41 estimate would equal up to 5% ( 5 % ) of annual revenue .the expenditures are expected to be used primarily for normal , recurring items necessary to support our business .we also anticipate making income tax payments in the range of $ 425 million to $ 475 million in 2019 .contractual obligations in the table below , we set forth our contractual obligations as of december 31 , 2018 .certain amounts included in this table are based on our estimates and assumptions about these obligations , including their duration , anticipated actions by third parties and other factors .the contractual obligations we will actually pay in future periods may vary from those reflected in the table because the estimates and assumptions are subjective. .
[['( in millions )', 'payments due by period total', 'payments due by period less than1 year', 'payments due by period 1 - 3years', 'payments due by period 4 - 5years', 'payments due by period more than5 years'], ['total debt and capital lease obligations ( 1 )', '$ 6989', '$ 942', '$ 562', '$ 1272', '$ 4213'], ['estimated interest payments ( 2 )', '3716', '239', '473', '404', '2600'], ['operating leases ( 3 )', '846', '186', '262', '132', '266'], ['purchase obligations ( 4 )', '1507', '1388', '86', '25', '8'], ['total', '$ 13058', '$ 2755', '$ 1383', '$ 1833', '$ 7087']]
( 1 ) amounts represent the expected cash payments for the principal amounts related to our debt , including capital lease obligations .amounts for debt do not include any deferred issuance costs or unamortized discounts or premiums including step up in the value of the debt on the acquisition of baker hughes .expected cash payments for interest are excluded from these amounts .total debt and capital lease obligations includes $ 896 million payable to ge and its affiliates .as there is no fixed payment schedule on the amount payable to ge and its affiliates we have classified it as payable in less than one year .( 2 ) amounts represent the expected cash payments for interest on our long-term debt and capital lease obligations .( 3 ) amounts represent the future minimum payments under noncancelable operating leases with initial or remaining terms of one year or more .we enter into operating leases , some of which include renewal options , however , we have excluded renewal options from the table above unless it is anticipated that we will exercise such renewals .( 4 ) purchase obligations include expenditures for capital assets for 2019 as well as agreements to purchase goods or services that are enforceable and legally binding and that specify all significant terms , including : fixed or minimum quantities to be purchased ; fixed , minimum or variable price provisions ; and the approximate timing of the transaction .due to the uncertainty with respect to the timing of potential future cash outflows associated with our uncertain tax positions , we are unable to make reasonable estimates of the period of cash settlement , if any , to the respective taxing authorities .therefore , $ 597 million in uncertain tax positions , including interest and penalties , have been excluded from the contractual obligations table above .see "note 12 .income taxes" of the notes to consolidated and combined financial statements in item 8 herein for further information .we have certain defined benefit pension and other post-retirement benefit plans covering certain of our u.s .and international employees .during 2018 , we made contributions and paid direct benefits of approximately $ 72 million in connection with those plans , and we anticipate funding approximately $ 41 million during 2019 .amounts for pension funding obligations are based on assumptions that are subject to change , therefore , we are currently not able to reasonably estimate our contribution figures after 2019 .see "note 11 .employee benefit plans" of the notes to consolidated and combined financial statements in item 8 herein for further information .off-balance sheet arrangements in the normal course of business with customers , vendors and others , we have entered into off-balance sheet arrangements , such as surety bonds for performance , letters of credit and other bank issued guarantees , which totaled approximately $ 3.6 billion at december 31 , 2018 .it is not practicable to estimate the fair value of these financial instruments .none of the off-balance sheet arrangements either has , or is likely to have , a material effect on our consolidated and combined financial statements. .
|
what are the combined total operating leases and purchase obligations as a percentage of the total payments due?
|
18.0%
|
{
"answer": "18.0%",
"decimal": 0.18,
"type": "percentage"
}
| |
n o t e s t o c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( continued ) ace limited and subsidiaries share-based compensation expense for stock options and shares issued under the employee stock purchase plan ( espp ) amounted to $ 24 million ( $ 22 million after tax or $ 0.07 per basic and diluted share ) , $ 23 million ( $ 21 million after tax or $ 0.06 per basic and diluted share ) , and $ 20 million ( $ 18 million after tax or $ 0.05 per basic and diluted share ) for the years ended december 31 , 2008 , 2007 , and 2006 , respectively .for the years ended december 31 , 2008 , 2007 and 2006 , the expense for the restricted stock was $ 101 million ( $ 71 million after tax ) , $ 77 million ( $ 57 million after tax ) , and $ 65 million ( $ 49 million after tax ) , respectively .during 2004 , the company established the ace limited 2004 long-term incentive plan ( the 2004 ltip ) .once the 2004 ltip was approved by shareholders , it became effective february 25 , 2004 .it will continue in effect until terminated by the board .this plan replaced the ace limited 1995 long-term incentive plan , the ace limited 1995 outside directors plan , the ace limited 1998 long-term incentive plan , and the ace limited 1999 replacement long-term incentive plan ( the prior plans ) except as to outstanding awards .during the company 2019s 2008 annual general meeting , shareholders voted to increase the number of common shares authorized to be issued under the 2004 ltip from 15000000 common shares to 19000000 common shares .accordingly , under the 2004 ltip , a total of 19000000 common shares of the company are authorized to be issued pursuant to awards made as stock options , stock appreciation rights , performance shares , performance units , restricted stock , and restricted stock units .the maximum number of shares that may be delivered to participants and their beneficiaries under the 2004 ltip shall be equal to the sum of : ( i ) 19000000 shares ; and ( ii ) any shares that are represented by awards granted under the prior plans that are forfeited , expired , or are canceled after the effective date of the 2004 ltip , without delivery of shares or which result in the forfeiture of the shares back to the company to the extent that such shares would have been added back to the reserve under the terms of the applicable prior plan .as of december 31 , 2008 , a total of 10591090 shares remain available for future issuance under this plan .under the 2004 ltip , 3000000 common shares are authorized to be issued under the espp .as of december 31 , 2008 , a total of 989812 common shares remain available for issuance under the espp .stock options the company 2019s 2004 ltip provides for grants of both incentive and non-qualified stock options principally at an option price per share of 100 percent of the fair value of the company 2019s common shares on the date of grant .stock options are generally granted with a 3-year vesting period and a 10-year term .the stock options vest in equal annual installments over the respective vesting period , which is also the requisite service period .included in the company 2019s share-based compensation expense in the year ended december 31 , 2008 , is the cost related to the unvested portion of the 2005-2008 stock option grants .the fair value of the stock options was estimated on the date of grant using the black-scholes option-pricing model that uses the assumptions noted in the following table .the risk-free inter- est rate is based on the u.s .treasury yield curve in effect at the time of grant .the expected life ( estimated period of time from grant to exercise date ) was estimated using the historical exercise behavior of employees .expected volatility was calculated as a blend of ( a ) historical volatility based on daily closing prices over a period equal to the expected life assumption , ( b ) long- term historical volatility based on daily closing prices over the period from ace 2019s initial public trading date through the most recent quarter , and ( c ) implied volatility derived from ace 2019s publicly traded options .the fair value of the options issued is estimated on the date of grant using the black-scholes option-pricing model , with the following weighted-average assumptions used for grants for the years indicated: .
[['', '2008', '2007', '2006'], ['dividend yield', '1.80% ( 1.80 % )', '1.78% ( 1.78 % )', '1.64% ( 1.64 % )'], ['expected volatility', '32.20% ( 32.20 % )', '27.43% ( 27.43 % )', '31.29% ( 31.29 % )'], ['risk-free interest rate', '3.15% ( 3.15 % )', '4.51% ( 4.51 % )', '4.60% ( 4.60 % )'], ['forfeiture rate', '7.5% ( 7.5 % )', '7.5% ( 7.5 % )', '7.5% ( 7.5 % )'], ['expected life', '5.7 years', '5.6 years', '6 years']]
.
|
what was the percentage increase in the number of common shares authorized to be issued under the 2004 ltip
|
26.7%
|
{
"answer": "26.7%",
"decimal": 0.267,
"type": "percentage"
}
| |
the goldman sachs group , inc .and subsidiaries notes to consolidated financial statements the table below presents a summary of level 3 financial assets. .
[['$ in millions', 'as of december 2018', 'as of december 2017'], ['cash instruments', '$ 17227', '$ 15395'], ['derivatives', '4948', '3802'], ['other financial assets', '6', '4'], ['total', '$ 22181', '$ 19201']]
level 3 financial assets as of december 2018 increased compared with december 2017 , primarily reflecting an increase in level 3 cash instruments .see notes 6 through 8 for further information about level 3 financial assets ( including information about unrealized gains and losses related to level 3 financial assets and financial liabilities , and transfers in and out of level 3 ) .note 6 .cash instruments cash instruments include u.s .government and agency obligations , non-u.s .government and agency obligations , mortgage-backed loans and securities , corporate debt instruments , equity securities , investments in funds at nav , and other non-derivative financial instruments owned and financial instruments sold , but not yet purchased .see below for the types of cash instruments included in each level of the fair value hierarchy and the valuation techniques and significant inputs used to determine their fair values .see note 5 for an overview of the firm 2019s fair value measurement policies .level 1 cash instruments level 1 cash instruments include certain money market instruments , u.s .government obligations , most non-u.s .government obligations , certain government agency obligations , certain corporate debt instruments and actively traded listed equities .these instruments are valued using quoted prices for identical unrestricted instruments in active markets .the firm defines active markets for equity instruments based on the average daily trading volume both in absolute terms and relative to the market capitalization for the instrument .the firm defines active markets for debt instruments based on both the average daily trading volume and the number of days with trading activity .level 2 cash instruments level 2 cash instruments include most money market instruments , most government agency obligations , certain non-u.s .government obligations , most mortgage-backed loans and securities , most corporate debt instruments , most state and municipal obligations , most other debt obligations , restricted or less liquid listed equities , commodities and certain lending commitments .valuations of level 2 cash instruments can be verified to quoted prices , recent trading activity for identical or similar instruments , broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency .consideration is given to the nature of the quotations ( e.g. , indicative or firm ) and the relationship of recent market activity to the prices provided from alternative pricing sources .valuation adjustments are typically made to level 2 cash instruments ( i ) if the cash instrument is subject to transfer restrictions and/or ( ii ) for other premiums and liquidity discounts that a market participant would require to arrive at fair value .valuation adjustments are generally based on market evidence .level 3 cash instruments level 3 cash instruments have one or more significant valuation inputs that are not observable .absent evidence to the contrary , level 3 cash instruments are initially valued at transaction price , which is considered to be the best initial estimate of fair value .subsequently , the firm uses other methodologies to determine fair value , which vary based on the type of instrument .valuation inputs and assumptions are changed when corroborated by substantive observable evidence , including values realized on sales .valuation techniques and significant inputs of level 3 cash instruments valuation techniques of level 3 cash instruments vary by instrument , but are generally based on discounted cash flow techniques .the valuation techniques and the nature of significant inputs used to determine the fair values of each type of level 3 cash instrument are described below : loans and securities backed by commercial real estate .loans and securities backed by commercial real estate are directly or indirectly collateralized by a single commercial real estate property or a portfolio of properties , and may include tranches of varying levels of subordination .significant inputs are generally determined based on relative value analyses and include : 2030 market yields implied by transactions of similar or related assets and/or current levels and changes in market indices such as the cmbx ( an index that tracks the performance of commercial mortgage bonds ) ; 118 goldman sachs 2018 form 10-k .
|
for level 3 financial assets in millions , for 2018 and 2017 , what was the largest balance of cash instruments?
|
17227
|
{
"answer": "17227",
"decimal": 17227,
"type": "float"
}
| |
table of contents certain union-represented american mainline employees are covered by agreements that are not currently amendable .until those agreements become amendable , negotiations for jcbas will be conducted outside the traditional rla bargaining process described above , and , in the meantime , no self-help will be permissible .the piedmont mechanics and stock clerks and the psa dispatchers have agreements that are now amendable and are engaged in traditional rla negotiations .none of the unions representing our employees presently may lawfully engage in concerted refusals to work , such as strikes , slow-downs , sick-outs or other similar activity , against us .nonetheless , there is a risk that disgruntled employees , either with or without union involvement , could engage in one or more concerted refusals to work that could individually or collectively harm the operation of our airline and impair our financial performance .for more discussion , see part i , item 1a .risk factors 2013 201cunion disputes , employee strikes and other labor-related disruptions may adversely affect our operations . 201d aircraft fuel our operations and financial results are significantly affected by the availability and price of jet fuel .based on our 2016 forecasted mainline and regional fuel consumption , we estimate that , as of december 31 , 2015 , a one cent per gallon increase in aviation fuel price would increase our 2016 annual fuel expense by $ 44 million .the following table shows annual aircraft fuel consumption and costs , including taxes , for our mainline operations for 2015 and 2014 ( gallons and aircraft fuel expense in millions ) .year gallons average price per gallon aircraft fuel expense percent of total mainline operating expenses .
[['year', 'gallons', 'average price pergallon', 'aircraft fuel expense', 'percent of total mainline operating expenses'], ['2015', '3611', '$ 1.72', '$ 6226', '21.6% ( 21.6 % )'], ['2014', '3644', '2.91', '10592', '33.2% ( 33.2 % )']]
total fuel expenses for our wholly-owned and third-party regional carriers operating under capacity purchase agreements of american were $ 1.2 billion and $ 2.0 billion for the years ended december 31 , 2015 and 2014 , respectively .as of december 31 , 2015 , we did not have any fuel hedging contracts outstanding to hedge our fuel consumption .as such , and assuming we do not enter into any future transactions to hedge our fuel consumption , we will continue to be fully exposed to fluctuations in fuel prices .our current policy is not to enter into transactions to hedge our fuel consumption , although we review that policy from time to time based on market conditions and other factors .fuel prices have fluctuated substantially over the past several years .we cannot predict the future availability , price volatility or cost of aircraft fuel .natural disasters , political disruptions or wars involving oil-producing countries , changes in fuel-related governmental policy , the strength of the u.s .dollar against foreign currencies , changes in access to petroleum product pipelines and terminals , speculation in the energy futures markets , changes in aircraft fuel production capacity , environmental concerns and other unpredictable events may result in fuel supply shortages , additional fuel price volatility and cost increases in the future .see part i , item 1a .risk factors 2013 201cour business is dependent on the price and availability of aircraft fuel .continued periods of high volatility in fuel costs , increased fuel prices and significant disruptions in the supply of aircraft fuel could have a significant negative impact on our operating results and liquidity . 201d insurance we maintain insurance of the types that we believe are customary in the airline industry , including insurance for public liability , passenger liability , property damage , and all-risk coverage for damage to our aircraft .principal coverage includes liability for injury to members of the public , including passengers , damage to .
|
in 2015 what were the total mainline operating expenses in millions
|
28824
|
{
"answer": "28824",
"decimal": 28824,
"type": "float"
}
| |
entergy gulf states , inc .management's financial discussion and analysis .
[['', '( in millions )'], ['2002 net revenue', '$ 1130.7'], ['volume/weather', '17.8'], ['fuel write-offs in 2002', '15.3'], ['net wholesale revenue', '10.2'], ['base rate decreases', '-23.3 ( 23.3 )'], ['nisco gain recognized in 2002', '-15.2 ( 15.2 )'], ['rate refund provisions', '-11.3 ( 11.3 )'], ['other', '-14.1 ( 14.1 )'], ['2003 net revenue', '$ 1110.1']]
the volume/weather variance was due to higher electric sales volume in the service territory .billed usage increased a total of 517 gwh in the residential and commercial sectors .the increase was partially offset by a decrease in industrial usage of 470 gwh due to the loss of two large industrial customers to cogeneration .the customers accounted for approximately 1% ( 1 % ) of entergy gulf states' net revenue in 2002 .in 2002 , deferred fuel costs of $ 8.9 million related to a texas fuel reconciliation case were written off and $ 6.5 million in expense resulted from an adjustment in the deregulated asset plan percentage as the result of a power uprate at river bend .the increase in net wholesale revenue was primarily due to an increase in sales volume to municipal and co- op customers and also to affiliated systems related to entergy's generation resource planning .the base rate decreases were effective june 2002 and january 2003 , both in the louisiana jurisdiction .the january 2003 base rate decrease of $ 22.1 million had a minimal impact on net income due to a corresponding reduction in nuclear depreciation and decommissioning expenses associated with the change in accounting to reflect an assumed extension of river bend's useful life .in 2002 , a gain of $ 15.2 million was recognized for the louisiana portion of the 1988 nelson units 1 and 2 sale .entergy gulf states received approval from the lpsc to discontinue applying amortization of the gain against recoverable fuel , resulting in the recognition of the deferred gain in income .rate refund provisions caused a decrease in net revenue due to additional provisions recorded in 2003 compared to 2002 for potential rate actions and refunds .gross operating revenues and fuel and purchased power expenses gross operating revenues increased primarily due to an increase of $ 440.2 million in fuel cost recovery revenues as a result of higher fuel rates in both the louisiana and texas jurisdictions .fuel and purchased power expenses increased $ 471.1 million due to an increase in the market prices of natural gas and purchased power .other income statement variances 2004 compared to 2003 other operation and maintenance expenses decreased primarily due to : 2022 voluntary severance program accruals of $ 22.5 million in 2003 ; and 2022 a decrease of $ 4.3 million in nuclear material and labor costs due to reduced staff in 2004. .
|
what is the increase in fuel cost recovery revenues as a percentage of the change in net revenue from 2002 to 2003?
|
2137%
|
{
"answer": "2137%",
"decimal": 21.37,
"type": "percentage"
}
| |
guarantees and warranties in april 2015 , we entered into joint venture arrangements in saudi arabia .an equity bridge loan has been provided to the joint venture until 2020 to fund equity commitments , and we guaranteed the repayment of our 25% ( 25 % ) share of this loan .our venture partner guaranteed repayment of their share .our maximum exposure under the guarantee is approximately $ 100 .as of 30 september 2015 , we recorded a noncurrent liability of $ 67.5 for our obligation to make future equity contributions based on the equity bridge loan .air products has also entered into a sale of equipment contract with the joint venture to engineer , procure , and construct the industrial gas facilities that will supply gases to saudi aramco .we will provide bank guarantees to the joint venture of up to $ 326 to support our performance under the contract .we are party to an equity support agreement and operations guarantee related to an air separation facility constructed in trinidad for a venture in which we own 50% ( 50 % ) .at 30 september 2015 , maximum potential payments under joint and several guarantees were $ 30.0 .exposures under the guarantee decline over time and will be completely extinguished by 2024 .during the first quarter of 2014 , we sold the remaining portion of our homecare business and entered into an operations guarantee related to obligations under certain homecare contracts assigned in connection with the transaction .our maximum potential payment under the guarantee is a320 million ( approximately $ 30 at 30 september 2015 ) , and our exposure will be extinguished by 2020 .to date , no equity contributions or payments have been made since the inception of these guarantees .the fair value of the above guarantees is not material .we , in the normal course of business operations , have issued product warranties related to equipment sales .also , contracts often contain standard terms and conditions which typically include a warranty and indemnification to the buyer that the goods and services purchased do not infringe on third-party intellectual property rights .the provision for estimated future costs relating to warranties is not material to the consolidated financial statements .we do not expect that any sum we may have to pay in connection with guarantees and warranties will have a material adverse effect on our consolidated financial condition , liquidity , or results of operations .unconditional purchase obligations we are obligated to make future payments under unconditional purchase obligations as summarized below: .
[['2016', '$ 917'], ['2017', '117'], ['2018', '63'], ['2019', '55'], ['2020', '54'], ['thereafter', '164'], ['total', '$ 1370']]
approximately $ 390 of our long-term unconditional purchase obligations relate to feedstock supply for numerous hyco ( hydrogen , carbon monoxide , and syngas ) facilities .the price of feedstock supply is principally related to the price of natural gas .however , long-term take-or-pay sales contracts to hyco customers are generally matched to the term of the feedstock supply obligations and provide recovery of price increases in the feedstock supply .due to the matching of most long-term feedstock supply obligations to customer sales contracts , we do not believe these purchase obligations would have a material effect on our financial condition or results of operations .the unconditional purchase obligations also include other product supply and purchase commitments and electric power and natural gas supply purchase obligations , which are primarily pass-through contracts with our customers .purchase commitments to spend approximately $ 540 for additional plant and equipment are included in the unconditional purchase obligations in 2016. .
|
what was the decrease observed in the unconditional purchase obligations during 2016 and 2017?
|
87.24%
|
{
"answer": "87.24%",
"decimal": 0.8724,
"type": "percentage"
}
|
it is the percentual variation observed during these years , which is calculated by subtracting the initial value ( 2016 ) of the final one ( 2017 ) then dividing by the initial and turned into a percentage .
|
notes to consolidated financial statements gains and losses on financial assets and financial liabilities accounted for at fair value under the fair value option the table below presents the gains and losses recognized as a result of the firm electing to apply the fair value option to certain financial assets and financial liabilities .these gains and losses are included in 201cmarket making 201d and 201cother principal transactions . 201d the table below also includes gains and losses on the embedded derivative component of hybrid financial instruments included in unsecured short-term borrowings and unsecured long-term borrowings .these gains and losses would have been recognized under other u.s .gaap even if the firm had not elected to account for the entire hybrid instrument at fair value .the amounts in the table exclude contractual interest , which is included in 201cinterest income 201d and 201cinterest expense , 201d for all instruments other than hybrid financial instruments .see note 23 for further information about interest income and interest expense .gains/ ( losses ) on financial assets and financial liabilities at fair value under the fair value option year ended december in millions 2012 2011 2010 receivables from customers and counterparties 1 $ 190 $ 97 $ ( 97 ) .
[['in millions', 'gains/ ( losses ) on financial assets and financial liabilities at fair value under the fair value option year ended december 2012', 'gains/ ( losses ) on financial assets and financial liabilities at fair value under the fair value option year ended december 2011', 'gains/ ( losses ) on financial assets and financial liabilities at fair value under the fair value option year ended december 2010'], ['receivables from customers andcounterparties1', '$ 190', '$ 97', '$ -97 ( 97 )'], ['other secured financings', '-190 ( 190 )', '-63 ( 63 )', '-227 ( 227 )'], ['unsecured short-term borrowings2', '-973 ( 973 )', '2149', '-1455 ( 1455 )'], ['unsecured long-term borrowings3', '-1523 ( 1523 )', '2336', '-1169 ( 1169 )'], ['other liabilities and accrued expenses4', '-1486 ( 1486 )', '-911 ( 911 )', '50'], ['other5', '-81 ( 81 )', '90', '-10 ( 10 )'], ['total', '$ -4063 ( 4063 )', '$ 3698', '$ -2908 ( 2908 )']]
1 .primarily consists of gains/ ( losses ) on certain reinsurance contracts and certain transfers accounted for as receivables rather than purchases .2 .includes gains/ ( losses ) on the embedded derivative component of hybrid financial instruments of $ ( 814 ) million , $ 2.01 billion , and $ ( 1.49 ) billion as of december 2012 , december 2011 and december 2010 , respectively .3 .includes gains/ ( losses ) on the embedded derivative component of hybrid financial instruments of $ ( 887 ) million , $ 1.80 billion and $ ( 1.32 ) billion as of december 2012 , december 2011 and december 2010 , respectively .4 .primarily consists of gains/ ( losses ) on certain insurance contracts .5 .primarily consists of gains/ ( losses ) on resale and repurchase agreements , securities borrowed and loaned and deposits .excluding the gains and losses on the instruments accounted for under the fair value option described above , 201cmarket making 201d and 201cother principal transactions 201d primarily represent gains and losses on 201cfinancial instruments owned , at fair value 201d and 201cfinancial instruments sold , but not yet purchased , at fair value . 201d 150 goldman sachs 2012 annual report .
|
by what amount is the total gains/ ( losses ) on financial assets and financial liabilities at fair value at 2017 different from 2016?
|
6606
|
{
"answer": "6606",
"decimal": 6606,
"type": "float"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements financial statements include impairment of long-lived assets ( including goodwill ) , asset retirement obligations , revenue recognition , rent expense , stock-based compensation , income taxes and accounting for business combinations .the company considers events or transactions that occur after the balance sheet date but before the financial statements are issued as additional evidence for certain estimates or to identify matters that require additional disclosure .concentrations of credit risk 2014the company is subject to concentrations of credit risk related to its cash and cash equivalents , notes receivable , accounts receivable , deferred rent asset and derivative financial instruments .the company mitigates its risk with respect to cash and cash equivalents and derivative financial instruments by maintaining its deposits and contracts at high quality financial institutions and monitoring the credit ratings of those institutions .the company derives the largest portion of its revenues , corresponding accounts receivable and the related deferred rent asset from a relatively small number of tenants in the telecommunications industry , and approximately 56% ( 56 % ) of its current year revenues are derived from four tenants .in addition , the company has concentrations of credit risk in certain geographic areas .the company mitigates its concentrations of credit risk with respect to notes and trade receivables and the related deferred rent assets by actively monitoring the credit worthiness of its borrowers and tenants .in recognizing customer revenue , the company must assess the collectibility of both the amounts billed and the portion recognized in advance of billing on a straight-line basis .this assessment takes tenant credit risk and business and industry conditions into consideration to ultimately determine the collectibility of the amounts billed .to the extent the amounts , based on management 2019s estimates , may not be collectible , recognition is deferred until such point as collectibility is determined to be reasonably assured .any amounts that were previously recognized as revenue and subsequently determined to be uncollectible are charged to bad debt expense included in selling , general , administrative and development expense in the accompanying consolidated statements of operations .accounts receivable is reported net of allowances for doubtful accounts related to estimated losses resulting from a tenant 2019s inability to make required payments and allowances for amounts invoiced whose collectibility is not reasonably assured .these allowances are generally estimated based on payment patterns , days past due and collection history , and incorporate changes in economic conditions that may not be reflected in historical trends , such as tenants in bankruptcy , liquidation or reorganization .receivables are written-off against the allowances when they are determined to be uncollectible .such determination includes analysis and consideration of the particular conditions of the account .changes in the allowances were as follows for the years ended december 31 , ( in thousands ) : .
[['', '2014', '2013', '2012'], ['balance as of january 1', '$ 19895', '$ 20406', '$ 24412'], ['current year increases', '8243', '7025', '8028'], ['write-offs net of recoveries and other', '-10832 ( 10832 )', '-7536 ( 7536 )', '-12034 ( 12034 )'], ['balance as of december 31', '$ 17306', '$ 19895', '$ 20406']]
functional currency 2014the functional currency of each of the company 2019s foreign operating subsidiaries is the respective local currency , except for costa rica , where the functional currency is the u.s .dollar .all foreign currency assets and liabilities held by the subsidiaries are translated into u.s .dollars at the exchange rate in .
|
for the four largest tenants , what is the average % ( % ) of current year revenues that each represents?
|
13
|
{
"answer": "13",
"decimal": 13,
"type": "float"
}
| |
35% ( 35 % ) due primarily to certain undistributed foreign earnings for which no u.s .taxes are provided because such earnings are intended to be indefinitely reinvested outside the u.s .as of september 24 , 2011 , the company had deferred tax assets arising from deductible temporary differences , tax losses , and tax credits of $ 3.2 billion , and deferred tax liabilities of $ 9.2 billion .management believes it is more likely than not that forecasted income , including income that may be generated as a result of certain tax planning strategies , together with future reversals of existing taxable temporary differences , will be sufficient to fully recover the deferred tax assets .the company will continue to evaluate the realizability of deferred tax assets quarterly by assessing the need for and amount of a valuation allowance .the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments .the company has contested certain of these adjustments through the irs appeals office .the irs is currently examining the years 2007 through 2009 .all irs audit issues for years prior to 2004 have been resolved .in addition , the company is subject to audits by state , local , and foreign tax authorities .management believes that adequate provisions have been made for any adjustments that may result from tax examinations .however , the outcome of tax audits cannot be predicted with certainty .if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income taxes in the period such resolution occurs .liquidity and capital resources the following table presents selected financial information and statistics as of and for the three years ended september 24 , 2011 ( in millions ) : .
[['', '2011', '2010', '2009'], ['cash cash equivalents and marketable securities', '$ 81570', '$ 51011', '$ 33992'], ['accounts receivable net', '$ 5369', '$ 5510', '$ 3361'], ['inventories', '$ 776', '$ 1051', '$ 455'], ['working capital', '$ 17018', '$ 20956', '$ 20049'], ['annual operating cash flow', '$ 37529', '$ 18595', '$ 10159']]
cash , cash equivalents and marketable securities increased $ 30.6 billion or 60% ( 60 % ) during 2011 .the principal components of this net increase was the cash generated by operating activities of $ 37.5 billion , which was partially offset by payments for acquisition of property , plant and equipment of $ 4.3 billion , payments for acquisition of intangible assets of $ 3.2 billion and payments made in connection with business acquisitions , net of cash acquired , of $ 244 million .the company believes its existing balances of cash , cash equivalents and marketable securities will be sufficient to satisfy its working capital needs , capital asset purchases , outstanding commitments and other liquidity requirements associated with its existing operations over the next 12 months .the company 2019s marketable securities investment portfolio is invested primarily in highly rated securities and its policy generally limits the amount of credit exposure to any one issuer .the company 2019s investment policy requires investments to generally be investment grade with the objective of minimizing the potential risk of principal loss .as of september 24 , 2011 and september 25 , 2010 , $ 54.3 billion and $ 30.8 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s .dollar-denominated holdings .amounts held by foreign subsidiaries are generally subject to u.s .income taxation on repatriation to the u.s .capital assets the company 2019s capital expenditures were $ 4.6 billion during 2011 , consisting of approximately $ 614 million for retail store facilities and $ 4.0 billion for other capital expenditures , including product tooling and manufacturing .
|
what year had the greatest amount of accounts receivable net?
|
2010
|
{
"answer": "2010",
"decimal": 2010,
"type": "float"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements u.s .acquisitions 2014during the year ended december 31 , 2010 , the company acquired 548 towers through multiple acquisitions in the united states for an aggregate purchase price of $ 329.3 million and contingent consideration of approximately $ 4.6 million .the acquisition of these towers is consistent with the company 2019s strategy to expand in selected geographic areas and have been accounted for as business combinations .the following table summarizes the preliminary allocation of the aggregate purchase consideration paid and the amounts of assets acquired and liabilities assumed based on the estimated fair value of the acquired assets and assumed liabilities at the date of acquisition ( in thousands ) : purchase price allocation .
[['', 'purchase price allocation'], ['non-current assets', '$ 442'], ['property and equipment', '64564'], ['intangible assets ( 1 )', '260898'], ['current liabilities', '-360 ( 360 )'], ['long-term liabilities', '-7802 ( 7802 )'], ['fair value of net assets acquired', '$ 317742'], ['goodwill ( 2 )', '16131']]
( 1 ) consists of customer relationships of approximately $ 205.4 million and network location intangibles of approximately $ 55.5 million .the customer relationships and network location intangibles are being amortized on a straight-line basis over a period of 20 years .( 2 ) goodwill is expected to be deductible for income tax purposes .the goodwill was allocated to the domestic rental and management segment .the allocation of the purchase price will be finalized upon completion of analyses of the fair value of the assets acquired and liabilities assumed .south africa acquisition 2014on november 4 , 2010 , the company entered into a definitive agreement with cell c ( pty ) limited to purchase up to approximately 1400 existing towers , and up to 1800 additional towers that either are under construction or will be constructed , for an aggregate purchase price of up to approximately $ 430 million .the company anticipates closing the purchase of up to 1400 existing towers during 2011 , subject to customary closing conditions .other transactions coltel transaction 2014on september 3 , 2010 , the company entered into a definitive agreement to purchase the exclusive use rights for towers in colombia from colombia telecomunicaciones s.a .e.s.p .( 201ccoltel 201d ) until 2023 , when ownership of the towers will transfer to the company at no additional cost .pursuant to that agreement , the company completed the purchase of exclusive use rights for 508 towers for an aggregate purchase price of $ 86.8 million during the year ended december 31 , 2010 .the company expects to complete the purchase of the exclusive use rights for an additional 180 towers by the end of 2011 , subject to customary closing conditions .the transaction has been accounted for as a capital lease , with the aggregated purchase price being allocated to property and equipment and non-current assets .joint venture with mtn group 2014on december 6 , 2010 , the company entered into a definitive agreement with mtn group limited ( 201cmtn group 201d ) to establish a joint venture in ghana ( 201ctowerco ghana 201d ) .towerco ghana , which will be managed by the company , will be owned by a holding company of which a wholly owned american tower subsidiary will hold a 51% ( 51 % ) share and a wholly owned mtn group subsidiary ( 201cmtn ghana 201d ) will hold a 49% ( 49 % ) share .the transaction involves the sale of up to 1876 of mtn ghana 2019s existing sites to .
|
of the total fair value of net assets acquired what was the percent applicable to the equipment
|
20.3%
|
{
"answer": "20.3%",
"decimal": 0.203,
"type": "percentage"
}
| |
management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) net cash used in investing activities during 2013 primarily related to payments for capital expenditures and acquisitions .capital expenditures of $ 173.0 related primarily to computer hardware and software and leasehold improvements .we made payments of $ 61.5 related to acquisitions completed during 2013 , net of cash acquired .financing activities net cash used in financing activities during 2014 primarily related to the purchase of long-term debt , the repurchase of our common stock and payment of dividends .during 2014 , we redeemed all $ 350.0 in aggregate principal amount of the 6.25% ( 6.25 % ) notes , repurchased 14.9 shares of our common stock for an aggregate cost of $ 275.1 , including fees , and made dividend payments of $ 159.0 on our common stock .this was offset by the issuance of $ 500.0 in aggregate principal amount of our 4.20% ( 4.20 % ) notes .net cash used in financing activities during 2013 primarily related to the purchase of long-term debt , the repurchase of our common stock and payment of dividends .we redeemed all $ 600.0 in aggregate principal amount of our 10.00% ( 10.00 % ) notes .in addition , we repurchased 31.8 shares of our common stock for an aggregate cost of $ 481.8 , including fees , and made dividend payments of $ 126.0 on our common stock .foreign exchange rate changes the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 101.0 in 2014 .the decrease was primarily a result of the u.s .dollar being stronger than several foreign currencies , including the canadian dollar , brazilian real , australian dollar and the euro as of december 31 , 2014 compared to december 31 , 2013 .the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 94.1 in 2013 .the decrease was primarily a result of the u.s .dollar being stronger than several foreign currencies , including the australian dollar , brazilian real , canadian dollar , japanese yen , and south african rand as of december 31 , 2013 compared to december 31 , 2012. .
[['balance sheet data', 'december 31 , 2014', 'december 31 , 2013'], ['cash cash equivalents and marketable securities', '$ 1667.2', '$ 1642.1'], ['short-term borrowings', '$ 107.2', '$ 179.1'], ['current portion of long-term debt', '2.1', '353.6'], ['long-term debt', '1623.5', '1129.8'], ['total debt', '$ 1732.8', '$ 1662.5']]
liquidity outlook we expect our cash flow from operations , cash and cash equivalents to be sufficient to meet our anticipated operating requirements at a minimum for the next twelve months .we also have a committed corporate credit facility as well as uncommitted facilities available to support our operating needs .we continue to maintain a disciplined approach to managing liquidity , with flexibility over significant uses of cash , including our capital expenditures , cash used for new acquisitions , our common stock repurchase program and our common stock dividends .from time to time , we evaluate market conditions and financing alternatives for opportunities to raise additional funds or otherwise improve our liquidity profile , enhance our financial flexibility and manage market risk .our ability to access the capital markets depends on a number of factors , which include those specific to us , such as our credit rating , and those related to the financial markets , such as the amount or terms of available credit .there can be no guarantee that we would be able to access new sources of liquidity on commercially reasonable terms , or at all. .
|
what percentage of total debt is from long-term debt , from 2013-2014?
|
81.09
|
{
"answer": "81.09",
"decimal": 81.09,
"type": "float"
}
| |
devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) proved undeveloped reserves the following table presents the changes in devon 2019s total proved undeveloped reserves during 2014 ( in mmboe ) . .
[['', 'u.s .', 'canada', 'total'], ['proved undeveloped reserves as of december 31 2013', '258', '443', '701'], ['extensions and discoveries', '153', '8', '161'], ['revisions due to prices', '-1 ( 1 )', '-34 ( 34 )', '-35 ( 35 )'], ['revisions other than price', '-61 ( 61 )', '18', '-43 ( 43 )'], ['sale of reserves', '-4 ( 4 )', '-2 ( 2 )', '-6 ( 6 )'], ['conversion to proved developed reserves', '-40 ( 40 )', '-49 ( 49 )', '-89 ( 89 )'], ['proved undeveloped reserves as of december 31 2014', '305', '384', '689']]
at december 31 , 2014 , devon had 689 mmboe of proved undeveloped reserves .this represents a 2 percent decrease as compared to 2013 and represents 25 percent of total proved reserves .drilling and development activities increased devon 2019s proved undeveloped reserves 161 mmboe and resulted in the conversion of 89 mmboe , or 13 percent , of the 2013 proved undeveloped reserves to proved developed reserves .costs incurred related to the development and conversion of devon 2019s proved undeveloped reserves were approximately $ 1.0 billion for 2014 .additionally , revisions other than price decreased devon 2019s proved undeveloped reserves 43 mmboe primarily due to evaluations of certain u.s .onshore dry-gas areas , which devon does not expect to develop in the next five years .the largest revisions , which were approximately 69 mmboe , relate to the dry-gas areas in the barnett shale in north texas .a significant amount of devon 2019s proved undeveloped reserves at the end of 2014 related to its jackfish operations .at december 31 , 2014 and 2013 , devon 2019s jackfish proved undeveloped reserves were 384 mmboe and 441 mmboe , respectively .development schedules for the jackfish reserves are primarily controlled by the need to keep the processing plants at their 35000 barrel daily facility capacity .processing plant capacity is controlled by factors such as total steam processing capacity and steam-oil ratios .furthermore , development of these projects involves the up-front construction of steam injection/distribution and bitumen processing facilities .due to the large up-front capital investments and large reserves required to provide economic returns , the project conditions meet the specific circumstances requiring a period greater than 5 years for conversion to developed reserves .as a result , these reserves are classified as proved undeveloped for more than five years .currently , the development schedule for these reserves extends though the year 2031 .price revisions 2014 2013 reserves increased 9 mmboe primarily due to higher gas prices in the barnett shale and the anadarko basin , partially offset by higher bitumen prices , which result in lower after-royalty volumes , in canada .2013 2013 reserves increased 94 mmboe primarily due to higher gas prices .of this increase , 43 mmboe related to the barnett shale and 19 mmboe related to the rocky mountain area .2012 2013 reserves decreased 171 mmboe primarily due to lower gas prices .of this decrease , 100 mmboe related to the barnett shale and 25 mmboe related to the rocky mountain area. .
|
what was the percentage reduction of the proved undeveloped reserves from 2013 to 2014
|
-1.7%
|
{
"answer": "-1.7%",
"decimal": -0.017,
"type": "percentage"
}
| |
during 2014 , the company closed on thirteen acquisitions of various regulated water and wastewater systems for a total aggregate purchase price of $ 9 .assets acquired , principally plant , totaled $ 17 .liabilities assumed totaled $ 8 , including $ 5 of contributions in aid of construction and assumed debt of $ 2 .during 2013 , the company closed on fifteen acquisitions of various regulated water and wastewater systems for a total aggregate net purchase price of $ 24 .assets acquired , primarily utility plant , totaled $ 67 .liabilities assumed totaled $ 43 , including $ 26 of contributions in aid of construction and assumed debt of $ 13 .included in these totals was the company 2019s november 14 , 2013 acquisition of all of the capital stock of dale service corporation ( 201cdale 201d ) , a regulated wastewater utility company , for a total cash purchase price of $ 5 ( net of cash acquired of $ 7 ) , plus assumed liabilities .the dale acquisition was accounted for as a business combination ; accordingly , operating results from november 14 , 2013 were included in the company 2019s results of operations .the purchase price was allocated to the net tangible and intangible assets based upon their estimated fair values at the date of acquisition .the company 2019s regulatory practice was followed whereby property , plant and equipment ( rate base ) was considered fair value for business combination purposes .similarly , regulatory assets and liabilities acquired were recorded at book value and are subject to regulatory approval where applicable .the acquired debt was valued in a manner consistent with the company 2019s level 3 debt .see note 17 2014fair value of financial instruments .non-cash assets acquired in the dale acquisition , primarily utility plant , totaled $ 41 ; liabilities assumed totaled $ 36 , including debt assumed of $ 13 and contributions of $ 19 .divestitures in november 2014 , the company completed the sale of terratec , previously included in the market-based businesses .after post-close adjustments , net proceeds from the sale totaled $ 1 , and the company recorded a pretax loss on sale of $ 1 .the following table summarizes the operating results of discontinued operations presented in the accompanying consolidated statements of operations for the years ended december 31: .
[['', '2014', '2013'], ['operating revenues', '$ 13', '$ 23'], ['total operating expenses net', '19', '26'], ['loss from discontinued operations before income taxes', '-6 ( 6 )', '-3 ( 3 )'], ['provision ( benefit ) for income taxes', '1', '-1 ( 1 )'], ['loss from discontinued operations net of tax', '$ -7 ( 7 )', '$ -2 ( 2 )']]
the provision for income taxes of discontinued operations includes the recognition of tax expense related to the difference between the tax basis and book basis of assets upon the sales of terratec that resulted in taxable gains , since an election was made under section 338 ( h ) ( 10 ) of the internal revenue code to treat the sales as asset sales .there were no assets or liabilities of discontinued operations in the accompanying consolidated balance sheets as of december 31 , 2015 and 2014. .
|
what was the operating income in 2014
|
-6
|
{
"answer": "-6",
"decimal": -6,
"type": "float"
}
|
the operating income is the operating revenues less operating expenses
|
the following is a list of distribution locations including the approximate square footage and if the location is leased or owned: .
[['distribution facility location', 'approximate square footage', 'owned/leased facility'], ['frankfort new york ( a )', '924000', 'owned'], ['franklin kentucky', '833000', 'owned'], ['pendleton indiana', '764000', 'owned'], ['macon georgia', '684000', 'owned'], ['waco texas', '666000', 'owned'], ['casa grande arizona', '650000', 'owned'], ['hagerstown maryland ( b )', '482000', 'owned'], ['hagerstown maryland ( b )', '309000', 'leased'], ['waverly nebraska', '592000', 'owned'], ['seguin texas ( c )', '71000', 'owned'], ['lakewood washington', '64000', 'leased'], ['longview texas ( c )', '63000', 'owned']]
longview , texas ( c ) 63000 owned ( a ) the frankfort , new york , distribution center began receiving merchandise in fourth quarter of fiscal 2018 , and is expected to begin shipping merchandise to stores in the first quarter of fiscal 2019 .( b ) the leased distribution center in hagerstown is treated as an extension of the existing owned hagerstown location and is not considered a separate distribution center .( c ) this is a mixing center designed to process certain high-volume bulk products .the company 2019s store support center occupies approximately 260000 square feet of owned building space in brentwood , tennessee , and the company 2019s merchandising innovation center occupies approximately 32000 square feet of leased building space in nashville , tennessee .the company also leases approximately 8000 square feet of building space for the petsense corporate headquarters , located in scottsdale , arizona .item 3 .legal proceedings the company is involved in various litigation matters arising in the ordinary course of business .the company believes that any estimated loss related to such matters has been adequately provided for in accrued liabilities to the extent probable and reasonably estimable .accordingly , the company currently expects these matters will be resolved without material adverse effect on its consolidated financial position , results of operations or cash flows .item 4 .mine safety disclosures not applicable. .
|
what is the total texas facilities square footage?
|
800000
|
{
"answer": "800000",
"decimal": 800000,
"type": "float"
}
| |
valuation techniques 2013 cash equivalents are mostly comprised of short-term money-market instruments and are valued at cost , which approximates fair value .u.s .equity securities and international equity securities categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year .for u.s .equity securities and international equity securities not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker , or investment manager .these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor or categorized as level 3 if the custodian obtains uncorroborated quotes from a broker or investment manager .commingled equity funds are public investment vehicles valued using the net asset value ( nav ) provided by the fund manager .the nav is the total value of the fund divided by the number of shares outstanding .commingled equity funds are categorized as level 1 if traded at their nav on a nationally recognized securities exchange or categorized as level 2 if the nav is corroborated by observable market data ( e.g. , purchases or sales activity ) .fixed income securities 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 ) , bids provided by brokers or dealers , or quoted prices of securities with similar characteristics .private equity funds , real estate funds , hedge funds , and fixed income securities categorized as level 3 are valued based on valuation models that include significant unobservable inputs and cannot be corroborated using verifiable observable market data .valuations for private equity funds and real estate funds are determined by the general partners , while hedge funds are valued by independent administrators .depending on the nature of the assets , the general partners or independent administrators use both the income and market approaches in their models .the market approach consists of analyzing market transactions for comparable assets while the income approach uses earnings or the net present value of estimated future cash flows adjusted for liquidity and other risk factors .commodities categorized as level 1 are traded on an active commodity exchange and are valued at their closing prices on the last trading day of the year .commodities categorized as level 2 represent shares in a commingled commodity fund valued using the nav , which is corroborated by observable market data .contributions and expected benefit payments we generally determine funding requirements for our defined benefit pension plans in a manner consistent with cas and internal revenue code rules .in 2012 , we made contributions of $ 3.6 billion related to our qualified defined benefit pension plans .we plan to make contributions of approximately $ 1.5 billion related to the qualified defined benefit pension plans in 2013 .in 2012 , we made contributions of $ 235 million related to our retiree medical and life insurance plans .we expect no required contributions related to the retiree medical and life insurance plans in 2013 .the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2012 ( in millions ) : .
[['', '2013', '2014', '2015', '2016', '2017', '2018 - 2022'], ['qualified defined benefit pension plans', '$ 1900', '$ 1970', '$ 2050', '$ 2130', '$ 2220', '$ 12880'], ['retiree medical and life insurance plans', '200', '210', '220', '220', '220', '1080']]
defined contribution plans we maintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees .under the provisions of our 401 ( k ) plans , we match most employees 2019 eligible contributions at rates specified in the plan documents .our contributions were $ 380 million in 2012 , $ 378 million in 2011 , and $ 379 million in 2010 , the majority of which were funded in our common stock .our defined contribution plans held approximately 48.6 million and 52.1 million shares of our common stock as of december 31 , 2012 and 2011. .
|
as of december 31 , 2012 what was the ratio of the estimated future benefit payments qualified defined benefit pension plans due in 2014 to the amount after 2018
|
0.153
|
{
"answer": "0.153",
"decimal": 0.153,
"type": "float"
}
| |
pro forma financial information the following pro forma consolidated condensed financial results of operations are presented as if the acquisition of the valves & controls business occurred on october 1 , 2015 .the pro forma information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved had the acquisition occurred as of that time. .
[['', '2016', '2017'], ['net sales', '$ 16201', '16112'], ['net earnings from continuing operations common stockholders', '$ 1482', '1692'], ['diluted earnings per share from continuing operations', '$ 2.28', '2.62']]
the pro forma results for 2016 were adjusted to include first year acquisition accounting charges related to inventory and backlog of $ 122 in 2017 .the pro forma 2016 results also include acquisition costs of $ 52 , while the 2017 pro forma results were adjusted to exclude these charges .on october 2 , 2017 , the company sold its residential storage business for $ 200 in cash , subject to post-closing adjustments , and expects to recognize a loss of approximately $ 40 in 2018 due to income taxes resulting from nondeductible goodwill .the company expects to realize approximately $ 140 in after-tax cash proceeds from the sale .this business , with sales of $ 298 and pretax earnings of $ 15 in 2017 , is a leader in home organization and storage systems , and was reported within the tools & home products segment .assets and liabilities were classified as held-for-sale as of september 30 , 2017 .the company acquired six businesses in 2016 , four in automation solutions and two in climate technologies .total cash paid for these businesses was $ 132 , net of cash acquired .annualized sales for these businesses were approximately $ 51 in 2016 .the company recognized goodwill of $ 83 ( $ 27 of which is expected to be tax deductible ) and other identifiable intangible assets of $ 50 , primarily customer relationships and intellectual property with a weighted-average life of approximately nine years .the company completed eight acquisitions in 2015 , seven in automation solutions and one in tools & home products , which had combined annualized sales of approximately $ 115 .total cash paid for all businesses was $ 324 , net of cash acquired .the company recognized goodwill of $ 178 ( $ 42 of which is expected to be tax deductible ) and other intangible assets of $ 128 , primarily customer relationships and intellectual property with a weighted-average life of approximately ten years .in january 2015 , the company completed the sale of its mechanical power transmission solutions business for $ 1.4 billion , and recognized a pretax gain from the transaction of $ 939 ( $ 532 after-tax , $ 0.78 per share ) .assets and liabilities sold were as follows : current assets , $ 182 ( accounts receivable , inventories , other current assets ) ; other assets , $ 374 ( property , plant and equipment , goodwill , other noncurrent assets ) ; accrued expenses , $ 56 ( accounts payable , other current liabilities ) ; and other liabilities , $ 41 .proceeds from the divestiture were used for share repurchase .this business was previously reported in the former industrial automation segment , and had partial year sales in 2015 of $ 189 and related pretax earnings of $ 21 .power transmission solutions designs and manufactures market-leading couplings , bearings , conveying components and gearing and drive components , and provides supporting services and solutions .on september 30 , 2015 , the company sold its intermetro commercial storage business for $ 411 in cash and recognized a pretax gain from the transaction of $ 100 ( $ 79 after-tax , $ 0.12 per share ) .this business had annual sales of $ 288 and pretax earnings of $ 42 in 2015 and was reported in the former commercial & residential solutions segment .assets and liabilities sold were as follows : current assets , $ 62 ( accounts receivable , inventories , other current assets ) ; other assets , $ 292 ( property , plant and equipment , goodwill , other noncurrent assets ) ; current liabilities , $ 34 ( accounts payable , other current liabilities ) ; and other liabilities , $ 9 .intermetro is a leading manufacturer and supplier of storage and transport products in the food service , commercial products and health care industries .the results of operations of the acquired businesses discussed above have been included in the company 2019s consolidated results of operations since the respective dates of acquisition .( 4 ) discontinued operations in 2017 , the company completed the previously announced strategic actions to streamline its portfolio and drive growth in its core businesses .on november 30 , 2016 , the company completed the sale of its network power systems business for $ 4.0 billion in cash and retained a subordinated interest in distributions , contingent upon the equity holders first receiving a threshold return on their initial investment .this business comprised the former network power segment .additionally , on january 31 , 2017 , the company completed the sale of its power generation , motors and drives business for approximately $ 1.2 billion , subject to post-closing .
|
what was the ratio of the price received for the residential storage sale of the business to the annual sales of the it?
|
.67
|
{
"answer": ".67",
"decimal": 0.67,
"type": "float"
}
| |
58 2018 ppg annual report and 10-k the crown group on october 2 , 2017 , ppg acquired the crown group ( 201ccrown 201d ) , a u.s.-based coatings application services business , which is reported as part of ppg's industrial coatings reportable segment .crown is one of the leading component and product finishers in north america .crown applies coatings to customers 2019 manufactured parts and assembled products at 11 u.s .sites .most of crown 2019s facilities , which also provide assembly , warehousing and sequencing services , are located at customer facilities or positioned near customer manufacturing sites .the company serves manufacturers in the automotive , agriculture , construction , heavy truck and alternative energy industries .the pro-forma impact on ppg's sales and results of operations , including the pro forma effect of events that are directly attributable to the acquisition , was not significant .the results of this business since the date of acquisition have been reported within the industrial coatings business within the industrial coatings reportable segment .taiwan chlorine industries taiwan chlorine industries ( 201ctci 201d ) was established in 1986 as a joint venture between ppg and china petrochemical development corporation ( 201ccpdc 201d ) to produce chlorine-based products in taiwan , at which time ppg owned 60 percent of the venture .in conjunction with the 2013 separation of its commodity chemicals business , ppg conveyed to axiall corporation ( "axiall" ) its 60% ( 60 % ) ownership interest in tci .under ppg 2019s agreement with cpdc , if certain post-closing conditions were not met following the three year anniversary of the separation , cpdc had the option to sell its 40% ( 40 % ) ownership interest in tci to axiall for $ 100 million .in turn , axiall had a right to designate ppg as its designee to purchase the 40% ( 40 % ) ownership interest of cpdc .in april 2016 , axiall announced that cpdc had decided to sell its ownership interest in tci to axiall .in june 2016 , axiall formally designated ppg to purchase the 40% ( 40 % ) ownership interest in tci .in august 2016 , westlake chemical corporation acquired axiall , which became a wholly-owned subsidiary of westlake .in april 2017 , ppg finalized its purchase of cpdc 2019s 40% ( 40 % ) ownership interest in tci .the difference between the acquisition date fair value and the purchase price of ppg 2019s 40% ( 40 % ) ownership interest in tci has been recorded as a loss in discontinued operations during the year-ended december 31 , 2017 .ppg 2019s ownership in tci is accounted for as an equity method investment and the related equity earnings are reported within other income in the consolidated statement of income and in legacy in note 20 , 201creportable business segment information . 201d metokote corporation in july 2016 , ppg completed the acquisition of metokote corporation ( "metokote" ) , a u.s.-based coatings application services business .metokote applies coatings to customers' manufactured parts and assembled products .it operates on- site coatings services within several customer manufacturing locations , as well as at regional service centers , located throughout the u.s. , canada , mexico , the united kingdom , germany , hungary and the czech republic .customers ship parts to metokote ae service centers where they are treated to enhance paint adhesion and painted with electrocoat , powder or liquid coatings technologies .coated parts are then shipped to the customer 2019s next stage of assembly .metokote coats an average of more than 1.5 million parts per day .the following table summarizes the estimated fair value of assets acquired and liabilities assumed as reflected in the final purchase price allocation for metokote .( $ in millions ) .
[['current assets', '$ 38'], ['property plant and equipment', '73'], ['identifiable intangible assets with finite lives', '86'], ['goodwill', '166'], ['deferred income taxes ( a )', '-12 ( 12 )'], ['total assets', '$ 351'], ['current liabilities', '-23 ( 23 )'], ['other long-term liabilities', '-22 ( 22 )'], ['total liabilities', '( $ 45 )'], ['total purchase price net of cash acquired', '$ 306']]
( a ) the net deferred income tax liability is included in assets due to the company's tax jurisdictional netting .the pro-forma impact on ppg's sales and results of operations , including the pro forma effect of events that are directly attributable to the acquisition , was not significant .while calculating this impact , no cost savings or operating synergies that may result from the acquisition were included .the results of this business since the date of acquisition have been reported within the industrial coatings business within the industrial coatings reportable segment .notes to the consolidated financial statements .
|
for metokote , what percentage of purchase price was hard assets?
|
24%
|
{
"answer": "24%",
"decimal": 0.24,
"type": "percentage"
}
|
ppe- hard assets
|
adobe systems incorporated notes to consolidated financial statements ( continued ) note 15 .commitments and contingencies lease commitments we lease certain of our facilities and some of our equipment under non-cancellable operating lease arrangements that expire at various dates through 2028 .we also have one land lease that expires in 2091 .rent expense includes base contractual rent and variable costs such as building expenses , utilities , taxes , insurance and equipment rental .rent expense and sublease income for these leases for fiscal 2014 , 2013 and 2012 were as follows ( in thousands ) : .
[['', '2014', '2013', '2012'], ['rent expense', '$ 111149', '$ 118976', '$ 105809'], ['less : sublease income', '1412', '3057', '2330'], ['net rent expense', '$ 109737', '$ 115919', '$ 103479']]
we occupy three office buildings in san jose , california where our corporate headquarters are located .we reference these office buildings as the almaden tower and the east and west towers .in august 2014 , we exercised our option to purchase the east and west towers for a total purchase price of $ 143.2 million .upon purchase , our investment in the lease receivable of $ 126.8 million was credited against the total purchase price and we were no longer required to maintain a standby letter of credit as stipulated in the east and west towers lease agreement .we capitalized the east and west towers as property and equipment on our consolidated balance sheets at $ 144.1 million , the lesser of cost or fair value , which represented the total purchase price plus other direct costs associated with the purchase .see note 6 for discussion of our east and west towers purchase .the lease agreement for the almaden tower is effective through march 2017 .we are the investors in the lease receivable related to the almaden tower lease in the amount of $ 80.4 million , which is recorded as investment in lease receivable on our consolidated balance sheets .as of november 28 , 2014 , the carrying value of the lease receivable related to the almaden tower approximated fair value .under the agreement for the almaden tower , we have the option to purchase the building at any time during the lease term for $ 103.6 million .if we purchase the building , the investment in the lease receivable may be credited against the purchase price .the residual value guarantee under the almaden tower obligation is $ 89.4 million .the almaden tower lease is subject to standard covenants including certain financial ratios that are reported to the lessor quarterly .as of november 28 , 2014 , we were in compliance with all of the covenants .in the case of a default , the lessor may demand we purchase the building for an amount equal to the lease balance , or require that we remarket or relinquish the building .if we choose to remarket or are required to do so upon relinquishing the building , we are bound to arrange the sale of the building to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the residual value guarantee amount less our investment in lease receivable .the almaden tower lease qualifies for operating lease accounting treatment and , as such , the building and the related obligation are not included in our consolidated balance sheets .see note 16 for discussion of our capital lease obligation .unconditional purchase obligations our purchase obligations consist of agreements to purchase goods and services entered into in the ordinary course of business. .
|
what is the growth rate in the net rent expense in 2014?
|
-5.3%
|
{
"answer": "-5.3%",
"decimal": -0.053,
"type": "percentage"
}
| |
the company recognizes accrued interest and penalties related to tax positions as a component of income tax expense and accounts for sales tax collected from customers and remitted to taxing authorities on a net basis .allowance for funds used during construction afudc is a non-cash credit to income with a corresponding charge to utility plant that represents the cost of borrowed funds or a return on equity funds devoted to plant under construction .the regulated utility subsidiaries record afudc to the extent permitted by the pucs .the portion of afudc attributable to borrowed funds is shown as a reduction of interest , net in the accompanying consolidated statements of operations .any portion of afudc attributable to equity funds would be included in other income ( expenses ) in the accompanying consolidated statements of operations .afudc is summarized in the following table for the years ended december 31: .
[['', '2015', '2014', '2013'], ['allowance for other funds used during construction', '$ 13', '$ 9', '$ 13'], ['allowance for borrowed funds used during construction', '8', '6', '6']]
environmental costs the company 2019s water and wastewater operations are subject to u.s .federal , state , local and foreign requirements relating to environmental protection , and as such , the company periodically becomes subject to environmental claims in the normal course of business .environmental expenditures that relate to current operations or provide a future benefit are expensed or capitalized as appropriate .remediation costs that relate to an existing condition caused by past operations are accrued , on an undiscounted basis , when it is probable that these costs will be incurred and can be reasonably estimated .remediation costs accrued amounted to $ 1 and $ 2 as of december 31 , 2015 and 2014 , respectively .the accrual relates entirely to a conservation agreement entered into by a subsidiary of the company with the national oceanic and atmospheric administration ( 201cnoaa 201d ) requiring the company to , among other provisions , implement certain measures to protect the steelhead trout and its habitat in the carmel river watershed in the state of california .the company has agreed to pay $ 1 annually from 2010 to 2016 .the company 2019s inception-to-date costs related to the noaa agreement were recorded in regulatory assets in the accompanying consolidated balance sheets as of december 31 , 2015 and 2014 and are expected to be fully recovered from customers in future rates .derivative financial instruments the company uses derivative financial instruments for purposes of hedging exposures to fluctuations in interest rates .these derivative contracts are entered into for periods consistent with the related underlying exposures and do not constitute positions independent of those exposures .the company does not enter into derivative contracts for speculative purposes and does not use leveraged instruments .all derivatives are recognized on the balance sheet at fair value .on the date the derivative contract is entered into , the company may designate the derivative as a hedge of the fair value of a recognized asset or liability ( fair-value hedge ) or a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability ( cash-flow hedge ) .changes in the fair value of a fair-value hedge , along with the gain or loss on the underlying hedged item , are recorded in current-period earnings .the effective portion of gains and losses on cash-flow hedges are recorded in other comprehensive income , until earnings are affected by the variability of cash flows .any ineffective portion of designated hedges is recognized in current-period earnings .cash flows from derivative contracts are included in net cash provided by operating activities in the accompanying consolidated statements of cash flows. .
|
what was the allowance for borrowed funds used during construction as a percentage of allowance for other funds used during construction during 2014?
|
66.7%
|
{
"answer": "66.7%",
"decimal": 0.667,
"type": "percentage"
}
| |
deposits 2014deposits include escrow funds and certain other deposits held in trust .the company includes cash deposits in other current assets .deferred compensation obligations 2014the company 2019s deferred compensation plans allow participants to defer certain cash compensation into notional investment accounts .the company includes such plans in other long-term liabilities .the value of the company 2019s deferred compensation obligations is based on the market value of the participants 2019 notional investment accounts .the notional investments are comprised primarily of mutual funds , which are based on observable market prices .mark-to-market derivative asset and liability 2014the company utilizes fixed-to-floating interest-rate swaps , typically designated as fair-value hedges , to achieve a targeted level of variable-rate debt as a percentage of total debt .the company also employs derivative financial instruments in the form of variable-to-fixed interest rate swaps and forward starting interest rate swaps , classified as economic hedges and cash flow hedges , respectively , in order to fix the interest cost on existing or forecasted debt .the company uses a calculation of future cash inflows and estimated future outflows , which are discounted , to determine the current fair value .additional inputs to the present value calculation include the contract terms , counterparty credit risk , interest rates and market volatility .other investments 2014other investments primarily represent money market funds used for active employee benefits .the company includes other investments in other current assets .note 18 : leases the company has entered into operating leases involving certain facilities and equipment .rental expenses under operating leases were $ 29 million , $ 24 million and $ 21 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .the operating leases for facilities will expire over the next 25 years and the operating leases for equipment will expire over the next 5 years .certain operating leases have renewal options ranging from one to five years .the minimum annual future rental commitment under operating leases that have initial or remaining non-cancelable lease terms over the next 5 years and thereafter are as follows: .
[['', 'amount'], ['2018', '$ 15'], ['2019', '14'], ['2020', '12'], ['2021', '9'], ['2022', '8'], ['thereafter', '65']]
the company has a series of agreements with various public entities ( the 201cpartners 201d ) to establish certain joint ventures , commonly referred to as 201cpublic-private partnerships . 201d under the public-private partnerships , the company constructed utility plant , financed by the company and the partners constructed utility plant ( connected to the company 2019s property ) , financed by the partners .the company agreed to transfer and convey some of its real and personal property to the partners in exchange for an equal principal amount of industrial development bonds ( 201cidbs 201d ) , issued by the partners under a state industrial development bond and commercial development act .the company leased back the total facilities , including portions funded by both the company and the partners , under leases for a period of 40 years .the leases related to the portion of the facilities funded by the company have required payments from the company to the partners that approximate the payments required by the terms of the idbs from the partners to the company ( as the holder of the idbs ) .as the ownership of the portion of the facilities constructed by the .
|
what percentage of minimum annual future rental commitment under operating leases that have initial or remaining non-cancelable lease terms is payable after 2022?
|
52.8%
|
{
"answer": "52.8%",
"decimal": 0.528,
"type": "percentage"
}
|
from here you need to than divide the amount to be paid after 2022 or 65 by the total or 123 ( 65/123 ) to get 52.8%
|
stock performance graph the following graph sets forth the cumulative total shareholder return on our series a common stock , series b common stock and series c common stock as compared with the cumulative total return of the companies listed in the standard and poor 2019s 500 stock index ( 201cs&p 500 index 201d ) and a peer group of companies comprised of cbs corporation class b common stock , news corporation class a common stock , scripps network interactive , inc. , time warner , inc. , viacom , inc .class b common stock and the walt disney company .the graph assumes $ 100 originally invested on september 18 , 2008 , the date upon which our common stock began trading , in each of our series a common stock , series b common stock and series c common stock , the s&p 500 index , and the stock of our peer group companies , including reinvestment of dividends , for the period september 18 , 2008 through december 31 , 2008 and the years ended december 31 , 2009 , 2010 , 2011 , and 2012 .december 31 , december 31 , december 31 , december 31 , december 31 .
[['', 'december 312008', 'december 312009', 'december 312010', 'december 312011', 'december 312012'], ['disca', '$ 102.53', '$ 222.09', '$ 301.96', '$ 296.67', '$ 459.67'], ['discb', '$ 78.53', '$ 162.82', '$ 225.95', '$ 217.56', '$ 327.11'], ['disck', '$ 83.69', '$ 165.75', '$ 229.31', '$ 235.63', '$ 365.63'], ['s&p 500', '$ 74.86', '$ 92.42', '$ 104.24', '$ 104.23', '$ 118.21'], ['peer group', '$ 68.79', '$ 100.70', '$ 121.35', '$ 138.19', '$ 190.58']]
equity compensation plan information information regarding securities authorized for issuance under equity compensation plans will be set forth in our definitive proxy statement for our 2013 annual meeting of stockholders under the caption 201csecurities authorized for issuance under equity compensation plans , 201d which is incorporated herein by reference. .
|
what was the percentage cumulative total shareholder return on discb common stock from september 18 , 2008 to december 31 , 2012?
|
227.11%
|
{
"answer": "227.11%",
"decimal": 2.2711,
"type": "percentage"
}
| |
n o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s 2013 ( continued ) ace limited and subsidiaries the weighted-average remaining contractual term was 5.7 years for the stock options outstanding and 4.3 years for the stock options exercisable at december 31 , 2010 .the total intrinsic value was $ 184 million for stock options outstanding and $ 124 million for stock options exercisable at december 31 , 2010 .the weighted-average fair value for the stock options granted for the years ended december 31 , 2010 , 2009 , and 2008 , was $ 12.09 , $ 12.95 , and $ 17.60 , respectively .the total intrinsic value for stock options exercised during the years ended december 31 , 2010 , 2009 , and 2008 , was $ 22 million , $ 12 mil- lion , and $ 54 million , respectively .the amount of cash received during the year ended december 31 , 2010 , from the exercise of stock options was $ 53 million .restricted stock and restricted stock units the company 2019s 2004 ltip provides for grants of restricted stock and restricted stock units with a 4-year vesting period , based on a graded vesting schedule .the company also grants restricted stock awards to non-management directors which vest at the following year 2019s annual general meeting .the restricted stock is granted at market close price on the date of grant .each restricted stock unit represents the company 2019s obligation to deliver to the holder one common share upon vesting .included in the company 2019s share-based compensation expense for the year ended december 31 , 2010 , is a portion of the cost related to the unvested restricted stock granted in the years 2006 2013 2010 .the following table presents a roll-forward of the company 2019s restricted stock for the years ended december 31 , 2010 , 2009 , and 2008 .included in the roll-forward below are 36248 and 38154 restricted stock awards that were granted to non-management directors during 2010 and 2009 , respectively .number of restricted stock weighted-average grant-date fair .
[['', 'number of restricted stock', 'weighted-average grant-date fair value'], ['unvested restricted stock december 31 2007', '3821707', '$ 53.12'], ['granted', '1836532', '$ 59.84'], ['vested and issued', '-1403826 ( 1403826 )', '$ 50.96'], ['forfeited', '-371183 ( 371183 )', '$ 53.75'], ['unvested restricted stock december 31 2008', '3883230', '$ 57.01'], ['granted', '2603344', '$ 39.05'], ['vested and issued', '-1447676 ( 1447676 )', '$ 54.85'], ['forfeited', '-165469 ( 165469 )', '$ 51.45'], ['unvested restricted stock december 31 2009', '4873429', '$ 48.25'], ['granted', '2461076', '$ 51.09'], ['vested and issued', '-1771423 ( 1771423 )', '$ 50.79'], ['forfeited', '-257350 ( 257350 )', '$ 47.93'], ['unvested restricted stock december 31 2010', '5305732', '$ 48.74']]
during 2010 , the company awarded 326091 restricted stock units to officers of the company and its subsidiaries with a weighted-average grant date fair value of $ 50.36 .during 2009 , 333104 restricted stock units , with a weighted-average grant date fair value of $ 38.75 , were awarded to officers of the company and its subsidiaries .during 2008 , 223588 restricted stock units , with a weighted-average grant date fair value of $ 59.93 , were awarded to officers of the company and its subsidiaries .at december 31 , 2010 , the number of unvested restricted stock units was 636758 .prior to 2009 , the company granted restricted stock units with a 1-year vesting period to non-management directors .delivery of common shares on account of these restricted stock units to non-management directors is deferred until six months after the date of the non-management directors 2019 termination from the board .during 2008 , 40362 restricted stock units were awarded to non-management directors .at december 31 , 2010 , the number of deferred restricted stock units was 230451 .the espp gives participating employees the right to purchase common shares through payroll deductions during consecutive 201csubscription periods 201d at a purchase price of 85 percent of the fair value of a common share on the exercise date .annual purchases by participants are limited to the number of whole shares that can be purchased by an amount equal to ten percent .
|
what is the net change in the number of unvested restricted stock in 2008?
|
61523
|
{
"answer": "61523",
"decimal": 61523,
"type": "float"
}
| |
the following tables present a reconciliation of the beginning and ending balances of the fair value measurements using significant unobservable inputs ( level 3 ) for 2017 and 2016 , respectively: .
[['', 'level 3'], ['balance as of january 1 2017', '$ 140'], ['actual return on assets', '2'], ['purchases issuances and settlements net', '136'], ['balance as of december 31 2017', '$ 278']]
purchases , issuances and settlements , net ............................................( 4 ) balance as of december 31 , 2016 ......................................................$ 140 the company 2019s postretirement benefit plans have different levels of funded status and the assets are held under various trusts .the investments and risk mitigation strategies for the plans are tailored specifically for each trust .in setting new strategic asset mixes , consideration is given to the likelihood that the selected asset allocation will effectively fund the projected plan liabilities and meet the risk tolerance criteria of the company .the company periodically updates the long-term , strategic asset allocations for these plans through asset liability studies and uses various analytics to determine the optimal asset allocation .considerations include plan liability characteristics , liquidity needs , funding requirements , expected rates of return and the distribution of returns .strategies to address the goal of ensuring sufficient assets to pay benefits include target allocations to a broad array of asset classes and , within asset classes , strategies are employed to provide adequate returns , diversification and liquidity .in 2012 , the company implemented a de-risking strategy for the american water pension plan after conducting an asset-liability study to reduce the volatility of the funded status of the plan .as part of the de-risking strategy , the company revised the asset allocations to increase the matching characteristics of fixed-income assets relative to liabilities .the fixed income portion of the portfolio was designed to match the bond-like and long-dated nature of the postretirement liabilities .in 2017 , the company further increased its exposure to liability-driven investing and increased its fixed-income allocation to 50% ( 50 % ) , up from 40% ( 40 % ) , in an effort to further decrease the funded status volatility of the plan and hedge the portfolio from movements in interest rates .in 2012 , the company also implemented a de-risking strategy for the medical bargaining trust within the plan to minimize volatility .in 2017 , the company conducted a new asset-liability study that indicated medical trend inflation that outpaced the consumer price index by more than 2% ( 2 % ) for the last 20 years .given continuously rising medical costs , the company decided to increase the equity exposure of the portfolio to 30% ( 30 % ) , up from 20% ( 20 % ) , while reducing the fixed-income portion of the portfolio from 80% ( 80 % ) to 70% ( 70 % ) .the company also conducted an asset-liability study for the post-retirement non-bargaining medical plan .its allocation was adjusted to make it more conservative , reducing the equity allocation from 70% ( 70 % ) to 60% ( 60 % ) and increasing the fixed- income allocation from 30% ( 30 % ) to 40% ( 40 % ) .the post-retirement medical non-bargaining plan 2019s equity allocation was reduced due to the cap on benefits for some non-union participants and resultant reduction in the plan 2019s liabilities .these changes will take place in 2018 .the company engages third party investment managers for all invested assets .managers are not permitted to invest outside of the asset class ( e.g .fixed income , equity , alternatives ) or strategy for which they have been appointed .investment management agreements and recurring performance and attribution analysis are used as tools to ensure investment managers invest solely within the investment strategy they have been provided .futures and options may be used to adjust portfolio duration to align with a plan 2019s targeted investment policy. .
|
in 2017 what was the percent of the return on assets to the balance at the end of december
|
0.72%
|
{
"answer": "0.72%",
"decimal": 0.0072,
"type": "percentage"
}
| |
the discount rate assumption was determined for the pension and postretirement benefit plans independently .at year-end 2011 , the company began using an approach that approximates the process of settlement of obligations tailored to the plans 2019 expected cash flows by matching the plans 2019 cash flows to the coupons and expected maturity values of individually selected bonds .the yield curve was developed for a universe containing the majority of u.s.-issued aa-graded corporate bonds , all of which were non callable ( or callable with make-whole provisions ) .historically , for each plan , the discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments .the expected long-term rate of return on plan assets is based on historical and projected rates of return , prior to administrative and investment management fees , for current and planned asset classes in the plans 2019 investment portfolios .assumed projected rates of return for each of the plans 2019 projected asset classes were selected after analyzing historical experience and future expectations of the returns and volatility of the various asset classes .based on the target asset allocation for each asset class , the overall expected rate of return for the portfolio was developed , adjusted for historical and expected experience of active portfolio management results compared to the benchmark returns and for the effect of expenses paid from plan assets .the company 2019s pension expense increases as the expected return on assets decreases .in the determination of year end 2014 projected benefit plan obligations , the company adopted a new table based on the society of actuaries rp 2014 mortality table including a generational bb-2d projection scale .the adoption resulted in a significant increase to pension and other postretirement benefit plans 2019 projected benefit obligations .assumed health care cost trend rates have a significant effect on the amounts reported for the other postretirement benefit plans .the health care cost trend rate is based on historical rates and expected market conditions .a one-percentage-point change in assumed health care cost trend rates would have the following effects : one-percentage-point increase one-percentage-point decrease effect on total of service and interest cost components ...............$ 5943 $ ( 4887 ) effect on other postretirement benefit obligation ....................$ 105967 $ ( 86179 ) .
[['', 'one-percentage-point increase', 'one-percentage-point decrease'], ['effect on total of service and interest cost components', '$ 5943', '$ -4887 ( 4887 )'], ['effect on other postretirement benefit obligation', '$ 105967', '$ -86179 ( 86179 )']]
the discount rate assumption was determined for the pension and postretirement benefit plans independently .at year-end 2011 , the company began using an approach that approximates the process of settlement of obligations tailored to the plans 2019 expected cash flows by matching the plans 2019 cash flows to the coupons and expected maturity values of individually selected bonds .the yield curve was developed for a universe containing the majority of u.s.-issued aa-graded corporate bonds , all of which were non callable ( or callable with make-whole provisions ) .historically , for each plan , the discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments .the expected long-term rate of return on plan assets is based on historical and projected rates of return , prior to administrative and investment management fees , for current and planned asset classes in the plans 2019 investment portfolios .assumed projected rates of return for each of the plans 2019 projected asset classes were selected after analyzing historical experience and future expectations of the returns and volatility of the various asset classes .based on the target asset allocation for each asset class , the overall expected rate of return for the portfolio was developed , adjusted for historical and expected experience of active portfolio management results compared to the benchmark returns and for the effect of expenses paid from plan assets .the company 2019s pension expense increases as the expected return on assets decreases .in the determination of year end 2014 projected benefit plan obligations , the company adopted a new table based on the society of actuaries rp 2014 mortality table including a generational bb-2d projection scale .the adoption resulted in a significant increase to pension and other postretirement benefit plans 2019 projected benefit obligations .assumed health care cost trend rates have a significant effect on the amounts reported for the other postretirement benefit plans .the health care cost trend rate is based on historical rates and expected market conditions .a one-percentage-point change in assumed health care cost trend rates would have the following effects : one-percentage-point increase one-percentage-point decrease effect on total of service and interest cost components ...............$ 5943 $ ( 4887 ) effect on other postretirement benefit obligation ....................$ 105967 $ ( 86179 ) .
|
what was the net effect of the one percentage point change on the other post retirement benefit obligations combined
|
19788
|
{
"answer": "19788",
"decimal": 19788,
"type": "float"
}
|
the net effect on the other post retirement benefits is the sum of the decrease and increase
|
the following table summarizes the changes in the company 2019s valuation allowance: .
[['balance at january 1 2011', '$ 23788'], ['increases in current period tax positions', '1525'], ['decreases in current period tax positions', '-3734 ( 3734 )'], ['balance at december 31 2011', '$ 21579'], ['increases in current period tax positions', '0'], ['decreases in current period tax positions', '-2059 ( 2059 )'], ['balance at december 31 2012', '$ 19520'], ['increases in current period tax positions', '0'], ['decreases in current period tax positions', '-5965 ( 5965 )'], ['balance at december 31 2013', '$ 13555']]
included in 2013 is a discrete tax benefit totaling $ 2979 associated with an entity re-organization within the company 2019s market-based segment that allowed for the utilization of state net operating loss carryforwards and the release of an associated valuation allowance .note 14 : employee benefits pension and other postretirement benefits the company maintains noncontributory defined benefit pension plans covering eligible employees of its regulated utility and shared services operations .benefits under the plans are based on the employee 2019s years of service and compensation .the pension plans have been closed for all employees .the pension plans were closed for most employees hired on or after january 1 , 2006 .union employees hired on or after january 1 , 2001 had their accrued benefit frozen and will be able to receive this benefit as a lump sum upon termination or retirement .union employees hired on or after january 1 , 2001 and non-union employees hired on or after january 1 , 2006 are provided with a 5.25% ( 5.25 % ) of base pay defined contribution plan .the company does not participate in a multiemployer plan .the company 2019s pension funding practice is to contribute at least the greater of the minimum amount required by the employee retirement income security act of 1974 or the normal cost .further , the company will consider additional contributions if needed to avoid 201cat risk 201d status and benefit restrictions under the pension protection act of 2006 .the company may also consider increased contributions , based on other financial requirements and the plans 2019 funded position .pension plan assets are invested in a number of actively managed and indexed investments including equity and bond mutual funds , fixed income securities , guaranteed interest contracts with insurance companies and real estate investment trusts ( 201creits 201d ) .pension expense in excess of the amount contributed to the pension plans is deferred by certain regulated subsidiaries pending future recovery in rates charged for utility services as contributions are made to the plans .( see note 6 ) the company also has unfunded noncontributory supplemental non-qualified pension plans that provide additional retirement benefits to certain employees .the company maintains other postretirement benefit plans providing varying levels of medical and life insurance to eligible retirees .the retiree welfare plans are closed for union employees hired on or after january 1 , 2006 .the plans had previously closed for non-union employees hired on or after january 1 , 2002 .the company 2019s policy is to fund other postretirement benefit costs for rate-making purposes .assets of the plans are invested in equity mutual funds , bond mutual funds and fixed income securities. .
|
what is the company's net valuation allowance at the end of 2013?
|
$ 10576
|
{
"answer": "$ 10576",
"decimal": 10576,
"type": "money"
}
|
in order to get the net valuation allowance you need to take out any special one time non-recurring revenues or expenses . since the discrete tax benefit is already included in the ending 2013 balance , you need to take it out to get to the net number
|
jpmorgan chase & co./2012 annual report 119 implementing further revisions to the capital accord in the u.s .( such further revisions are commonly referred to as 201cbasel iii 201d ) .basel iii revised basel ii by , among other things , narrowing the definition of capital , and increasing capital requirements for specific exposures .basel iii also includes higher capital ratio requirements and provides that the tier 1 common capital requirement will be increased to 7% ( 7 % ) , comprised of a minimum ratio of 4.5% ( 4.5 % ) plus a 2.5% ( 2.5 % ) capital conservation buffer .implementation of the 7% ( 7 % ) tier 1 common capital requirement is required by january 1 , in addition , global systemically important banks ( 201cgsibs 201d ) will be required to maintain tier 1 common requirements above the 7% ( 7 % ) minimum in amounts ranging from an additional 1% ( 1 % ) to an additional 2.5% ( 2.5 % ) .in november 2012 , the financial stability board ( 201cfsb 201d ) indicated that it would require the firm , as well as three other banks , to hold the additional 2.5% ( 2.5 % ) of tier 1 common ; the requirement will be phased in beginning in 2016 .the basel committee also stated it intended to require certain gsibs to hold an additional 1% ( 1 % ) of tier 1 common under certain circumstances , to act as a disincentive for the gsib from taking actions that would further increase its systemic importance .currently , no gsib ( including the firm ) is required to hold this additional 1% ( 1 % ) of tier 1 common .in addition , pursuant to the requirements of the dodd-frank act , u.s .federal banking agencies have proposed certain permanent basel i floors under basel ii and basel iii capital calculations .the following table presents a comparison of the firm 2019s tier 1 common under basel i rules to its estimated tier 1 common under basel iii rules , along with the firm 2019s estimated risk-weighted assets .tier 1 common under basel iii includes additional adjustments and deductions not included in basel i tier 1 common , such as the inclusion of aoci related to afs securities and defined benefit pension and other postretirement employee benefit ( 201copeb 201d ) plans .the firm estimates that its tier 1 common ratio under basel iii rules would be 8.7% ( 8.7 % ) as of december 31 , 2012 .the tier 1 common ratio under both basel i and basel iii are non- gaap financial measures .however , such measures are used by bank regulators , investors and analysts as a key measure to assess the firm 2019s capital position and to compare the firm 2019s capital to that of other financial services companies .december 31 , 2012 ( in millions , except ratios ) .
[['tier 1 common under basel i rules', '$ 140342'], ['adjustments related to aoci for afs securities and defined benefit pension and opeb plans', '4077'], ['all other adjustments', '-453 ( 453 )'], ['estimated tier 1 common under basel iii rules', '$ 143966'], ['estimated risk-weighted assets under basel iii rules ( a )', '$ 1647903'], ['estimated tier 1 common ratio under basel iii rules ( b )', '8.7% ( 8.7 % )']]
estimated risk-weighted assets under basel iii rules ( a ) $ 1647903 estimated tier 1 common ratio under basel iii rules ( b ) 8.7% ( 8.7 % ) ( a ) key differences in the calculation of risk-weighted assets between basel i and basel iii include : ( 1 ) basel iii credit risk rwa is based on risk-sensitive approaches which largely rely on the use of internal credit models and parameters , whereas basel i rwa is based on fixed supervisory risk weightings which vary only by counterparty type and asset class ; ( 2 ) basel iii market risk rwa reflects the new capital requirements related to trading assets and securitizations , which include incremental capital requirements for stress var , correlation trading , and re-securitization positions ; and ( 3 ) basel iii includes rwa for operational risk , whereas basel i does not .the actual impact on the firm 2019s capital ratios upon implementation could differ depending on final implementation guidance from the regulators , as well as regulatory approval of certain of the firm 2019s internal risk models .( b ) the tier 1 common ratio is tier 1 common divided by rwa .the firm 2019s estimate of its tier 1 common ratio under basel iii reflects its current understanding of the basel iii rules based on information currently published by the basel committee and u.s .federal banking agencies and on the application of such rules to its businesses as currently conducted ; it excludes the impact of any changes the firm may make in the future to its businesses as a result of implementing the basel iii rules , possible enhancements to certain market risk models , and any further implementation guidance from the regulators .the basel iii capital requirements are subject to prolonged transition periods .the transition period for banks to meet the tier 1 common requirement under basel iii was originally scheduled to begin in 2013 , with full implementation on january 1 , 2019 .in november 2012 , the u.s .federal banking agencies announced a delay in the implementation dates for the basel iii capital requirements .the additional capital requirements for gsibs will be phased in starting january 1 , 2016 , with full implementation on january 1 , 2019 .management 2019s current objective is for the firm to reach , by the end of 2013 , an estimated basel iii tier i common ratio of 9.5% ( 9.5 % ) .additional information regarding the firm 2019s capital ratios and the federal regulatory capital standards to which it is subject is presented in supervision and regulation on pages 1 20138 of the 2012 form 10-k , and note 28 on pages 306 2013 308 of this annual report .broker-dealer regulatory capital jpmorgan chase 2019s principal u.s .broker-dealer subsidiaries are j.p .morgan securities llc ( 201cjpmorgan securities 201d ) and j.p .morgan clearing corp .( 201cjpmorgan clearing 201d ) .jpmorgan clearing is a subsidiary of jpmorgan securities and provides clearing and settlement services .jpmorgan securities and jpmorgan clearing are each subject to rule 15c3-1 under the securities exchange act of 1934 ( the 201cnet capital rule 201d ) .jpmorgan securities and jpmorgan clearing are also each registered as futures commission merchants and subject to rule 1.17 of the commodity futures trading commission ( 201ccftc 201d ) .jpmorgan securities and jpmorgan clearing have elected to compute their minimum net capital requirements in accordance with the 201calternative net capital requirements 201d of the net capital rule .at december 31 , 2012 , jpmorgan securities 2019 net capital , as defined by the net capital rule , was $ 13.5 billion , exceeding the minimum requirement by .
|
as of the current year , did the firm meet the eventual objective of an estimated basel iii tier i common ratio of 9.5%?
|
no
|
{
"answer": "no",
"decimal": null,
"type": "bool"
}
| |
ralph lauren restaurants ralph lauren's restaurants translate mr .ralph lauren's distinctive vision into places to gather with family and friends to enjoy fine food .in 1999 , the first rl restaurant opened , adjacent to the ralph lauren chicago store on michigan avenue .this restaurant exemplifies the timeless design sensibility of ralph lauren's world and features classic american "city club" cuisine .in 2010 , ralph's was opened in the courtyard and converted stables of our paris store on the blvd .saint germain .ralph's presents mr .lauren's favorite american classics in an elegant and glamorous french environment .in august 2014 , we opened ralph's coffee on the second floor of our polo flagship store in new york city , featuring private custom coffee roasts , sandwiches , and sweet treats .the polo bar , adjacent to our new york city polo flagship store , opened in january 2015 with a menu dedicated to serving seasonal american classics in a setting that pays homage to the sophisticated equestrian heritage of the ralph lauren world .our wholesale segment our wholesale segment sells our products globally to leading upscale and certain mid-tier department stores , specialty stores , and golf and pro shops .we have continued to focus on elevating our brand by improving in-store product assortment and presentation , as well as full-price sell-throughs to consumers .as of the end of fiscal 2015 , our wholesale products were sold through approximately 13000 doors worldwide and we invested $ 48 million of capital in related shop-within-shops during fiscal 2015 , primarily in domestic and international department and specialty stores .our products are also sold through the e-commerce sites of certain of our wholesale customers .the primary product offerings sold through our wholesale channels of distribution include apparel , accessories , and home furnishings .our collection brands 2014 ralph lauren women's collection and black label and men's purple label and black label 2014 are distributed worldwide through a limited number of premier fashion retailers .department stores are our major wholesale customers in north america .in latin america , our wholesale products are sold in department stores and specialty stores .in europe , our wholesale sales are comprised of a varying mix of sales to both department stores and specialty stores , depending on the country .in japan , our wholesale products are distributed primarily through shop-within-shops at premier and top-tier department stores .in the greater china and southeast asia region , australia , and new zealand , our wholesale products are sold mainly at mid and top-tier department stores .we also distribute our wholesale products to certain licensed stores operated by our partners in latin america , asia , europe , and the middle east .we sell the majority of our excess and out-of-season products through secondary distribution channels worldwide , including our retail factory stores .worldwide wholesale distribution channels the following table presents the number of doors by geographic location in which products distributed by our wholesale segment were sold to consumers in our primary channels of distribution as of march 28 , 2015: .
[['location', 'number of doors'], ['the americas ( a )', '7308'], ['europe ( b )', '5311'], ['asia ( c )', '128'], ['total', '12747']]
( a ) includes the u.s. , canada , and latin america .( b ) includes the middle east .( c ) includes australia and new zealand .we have three key wholesale customers that generate significant sales volume .during fiscal 2015 , sales to our largest wholesale customer , macy's , inc .( "macy's" ) , accounted for approximately 12% ( 12 % ) and 26% ( 26 % ) of our total net revenues and total wholesale net revenues , respectively .further , during fiscal 2015 , sales to our three largest wholesale customers , including macy's , accounted for approximately 24% ( 24 % ) and 52% ( 52 % ) of our total net revenues and total wholesale net revenues , respectively. .
|
what percentage of the wholesale segment doors as of march 28 , 2015 where located in europe?
|
42%
|
{
"answer": "42%",
"decimal": 0.42,
"type": "percentage"
}
| |
available information .the company 2019s annual reports on form 10-k , quarterly reports on form 10-q , current reports on form 8- k , proxy statements and amendments to those reports are available free of charge through the company 2019s internet website at http://www.everestregroup.com as soon as reasonably practicable after such reports are electronically filed with the securities and exchange commission ( the 201csec 201d ) .item 1a .risk factors in addition to the other information provided in this report , the following risk factors should be considered when evaluating an investment in our securities .if the circumstances contemplated by the individual risk factors materialize , our business , financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly .risks relating to our business fluctuations in the financial markets could result in investment losses .prolonged and severe disruptions in the overall public debt and equity markets , such as occurred during 2008 , could result in significant realized and unrealized losses in our investment portfolio .although financial markets have significantly improved since 2008 , they could deteriorate in the future .there could also be disruption in individual market sectors , such as occurred in the energy sector during the fourth quarter of 2014 .such declines in the financial markets could result in significant realized and unrealized losses on investments and could have a material adverse impact on our results of operations , equity , business and insurer financial strength and debt ratings .our results could be adversely affected by catastrophic events .we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism .any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations .subsequent to april 1 , 2010 , we define a catastrophe as an event that causes a loss on property exposures before reinsurance of at least $ 10.0 million , before corporate level reinsurance and taxes .prior to april 1 , 2010 , we used a threshold of $ 5.0 million .by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of contract specific reinsurance but before cessions under corporate reinsurance programs , were as follows: .
[['calendar year:', 'pre-tax catastrophe losses'], ['( dollars in millions )', ''], ['2014', '$ 62.2'], ['2013', '195.0'], ['2012', '410.0'], ['2011', '1300.4'], ['2010', '571.1']]
our losses from future catastrophic events could exceed our projections .we use projections of possible losses from future catastrophic events of varying types and magnitudes as a strategic underwriting tool .we use these loss projections to estimate our potential catastrophe losses in certain geographic areas and decide on the placement of retrocessional coverage or other actions to limit the extent of potential losses in a given geographic area .these loss projections are approximations , reliant on a mix of quantitative and qualitative processes , and actual losses may exceed the projections by a material amount , resulting in a material adverse effect on our financial condition and results of operations. .
|
what are the total pre-tax catastrophe losses in the last 2 years?\\n
|
257.2
|
{
"answer": "257.2",
"decimal": 257.2,
"type": "float"
}
| |
part ii were issued in an initial aggregate principal amount of $ 500 million at a 2.25% ( 2.25 % ) fixed , annual interest rate and will mature on may 1 , 2023 .the 2043 senior notes were issued in an initial aggregate principal amount of $ 500 million at a 3.625% ( 3.625 % ) fixed , annual interest rate and will mature on may 1 , 2043 .interest on the senior notes is payable semi-annually on may 1 and november 1 of each year .the issuance resulted in gross proceeds before expenses of $ 998 million .on november 1 , 2011 , we entered into a committed credit facility agreement with a syndicate of banks which provides for up to $ 1 billion of borrowings with the option to increase borrowings to $ 1.5 billion with lender approval .the facility matures november 1 , 2017 .as of and for the periods ended may 31 , 2015 and 2014 , we had no amounts outstanding under our committed credit facility .we currently have long-term debt ratings of aa- and a1 from standard and poor 2019s corporation and moody 2019s investor services , respectively .if our long- term debt ratings were to decline , the facility fee and interest rate under our committed credit facility would increase .conversely , if our long-term debt rating were to improve , the facility fee and interest rate would decrease .changes in our long-term debt rating would not trigger acceleration of maturity of any then-outstanding borrowings or any future borrowings under the committed credit facility .under this committed revolving credit facility , we have agreed to various covenants .these covenants include limits on our disposal of fixed assets , the amount of debt secured by liens we may incur , as well as a minimum capitalization ratio .in the event we were to have any borrowings outstanding under this facility and failed to meet any covenant , and were unable to obtain a waiver from a majority of the banks in the syndicate , any borrowings would become immediately due and payable .as of may 31 , 2015 , we were in full compliance with each of these covenants and believe it is unlikely we will fail to meet any of these covenants in the foreseeable future .liquidity is also provided by our $ 1 billion commercial paper program .during the year ended may 31 , 2015 , we did not issue commercial paper , and as of may 31 , 2015 , there were no outstanding borrowings under this program .we may issue commercial paper or other debt securities during fiscal 2016 depending on general corporate needs .we currently have short-term debt ratings of a1+ and p1 from standard and poor 2019s corporation and moody 2019s investor services , respectively .as of may 31 , 2015 , we had cash , cash equivalents and short-term investments totaling $ 5.9 billion , of which $ 4.2 billion was held by our foreign subsidiaries .included in cash and equivalents as of may 31 , 2015 was $ 968 million of cash collateral received from counterparties as a result of hedging activity .cash equivalents and short-term investments consist primarily of deposits held at major banks , money market funds , commercial paper , corporate notes , u.s .treasury obligations , u.s .government sponsored enterprise obligations and other investment grade fixed income securities .our fixed income investments are exposed to both credit and interest rate risk .all of our investments are investment grade to minimize our credit risk .while individual securities have varying durations , as of may 31 , 2015 the weighted average remaining duration of our short-term investments and cash equivalents portfolio was 79 days .to date we have not experienced difficulty accessing the credit markets or incurred higher interest costs .future volatility in the capital markets , however , may increase costs associated with issuing commercial paper or other debt instruments or affect our ability to access those markets .we believe that existing cash , cash equivalents , short-term investments and cash generated by operations , together with access to external sources of funds as described above , will be sufficient to meet our domestic and foreign capital needs in the foreseeable future .we utilize a variety of tax planning and financing strategies to manage our worldwide cash and deploy funds to locations where they are needed .we routinely repatriate a portion of our foreign earnings for which u.s .taxes have previously been provided .we also indefinitely reinvest a significant portion of our foreign earnings , and our current plans do not demonstrate a need to repatriate these earnings .should we require additional capital in the united states , we may elect to repatriate indefinitely reinvested foreign funds or raise capital in the united states through debt .if we were to repatriate indefinitely reinvested foreign funds , we would be required to accrue and pay additional u.s .taxes less applicable foreign tax credits .if we elect to raise capital in the united states through debt , we would incur additional interest expense .off-balance sheet arrangements in connection with various contracts and agreements , we routinely provide indemnification relating to the enforceability of intellectual property rights , coverage for legal issues that arise and other items where we are acting as the guarantor .currently , we have several such agreements in place .however , based on our historical experience and the estimated probability of future loss , we have determined that the fair value of such indemnification is not material to our financial position or results of operations .contractual obligations our significant long-term contractual obligations as of may 31 , 2015 and significant endorsement contracts , including related marketing commitments , entered into through the date of this report are as follows: .
[['description of commitment ( in millions )', 'description of commitment 2016', 'description of commitment 2017', 'description of commitment 2018', 'description of commitment 2019', 'description of commitment 2020', 'description of commitment thereafter', 'total'], ['operating leases', '$ 447', '$ 423', '$ 371', '$ 311', '$ 268', '$ 1154', '$ 2974'], ['capital leases', '2', '2', '1', '2014', '2014', '2014', '5'], ['long-term debt ( 1 )', '142', '77', '55', '36', '36', '1451', '1797'], ['endorsement contracts ( 2 )', '1009', '919', '882', '706', '533', '2143', '6192'], ['product purchase obligations ( 3 )', '3735', '2014', '2014', '2014', '2014', '2014', '3735'], ['other ( 4 )', '343', '152', '75', '72', '36', '92', '770'], ['total', '$ 5678', '$ 1573', '$ 1384', '$ 1125', '$ 873', '$ 4840', '$ 15473']]
( 1 ) the cash payments due for long-term debt include estimated interest payments .estimates of interest payments are based on outstanding principal amounts , applicable fixed interest rates or currently effective interest rates as of may 31 , 2015 ( if variable ) , timing of scheduled payments and the term of the debt obligations .( 2 ) the amounts listed for endorsement contracts represent approximate amounts of base compensation and minimum guaranteed royalty fees we are obligated to pay athlete , sport team and league endorsers of our products .actual payments under some contracts may be higher than the amounts listed as these contracts provide for bonuses to be paid to the endorsers based upon athletic achievements and/or royalties on product sales in future periods .actual payments under some contracts may also be lower as these contracts include provisions for reduced payments if athletic performance declines in future periods .in addition to the cash payments , we are obligated to furnish our endorsers with nike product for their use .it is not possible to determine how much we will spend on this product on an annual basis as the contracts generally do not stipulate a specific amount of cash to be spent on the product .the amount of product provided to the endorsers will depend on many factors , including general playing conditions , the number of sporting events in which they participate and our own decisions regarding product and marketing initiatives .in addition , the costs to design , develop , source and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers. .
|
what percentage of endorsement contracts is currently due in 2016?
|
16%
|
{
"answer": "16%",
"decimal": 0.16,
"type": "percentage"
}
| |
page 27 of 100 other liquidity items cash payments required for long-term debt maturities , rental payments under noncancellable operating leases , purchase obligations and other commitments in effect at december 31 , 2010 , 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 than5 years'], ['long-term debt including capital leases', '$ 2750.1', '$ 34.5', '$ 188.3', '$ 367.1', '$ 2160.2'], ['interest payments on long-term debt ( b )', '1267.5', '160.5', '316.4', '304.2', '486.4'], ['operating leases', '93.2', '31.1', '37.1', '16.6', '8.4'], ['purchase obligations ( c )', '6586.9', '2709.5', '3779.4', '98.0', '2212'], ['total payments on contractual obligations', '$ 10697.7', '$ 2935.6', '$ 4321.2', '$ 785.9', '$ 2655.0']]
total payments on contractual obligations $ 10697.7 $ 2935.6 $ 4321.2 $ 785.9 $ 2655.0 ( a ) amounts reported in local currencies have been translated at the year-end 2010 exchange rates .( b ) for variable rate facilities , amounts are based on interest rates in effect at year end and do not contemplate the effects of hedging instruments .( c ) the company 2019s purchase obligations include contracted amounts for aluminum , steel 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 or may not result in penalties and , therefore , actual payments could vary significantly .the table above does not include $ 60.1 million of uncertain tax positions , the timing of which is uncertain .contributions to the company 2019s defined benefit pension plans , not including the unfunded german plans , are expected to be in the range of $ 30 million in 2011 .this estimate may change based on changes in the pension protection act and actual plan asset performance , among other factors .benefit payments related to these plans are expected to be $ 71.4 million , $ 74.0 million , $ 77.1 million , $ 80.3 million and $ 84.9 million for the years ending december 31 , 2011 through 2015 , respectively , and a total of $ 483.1 million for the years 2016 through 2020 .payments to participants in the unfunded german plans are expected to be between $ 21.8 million ( 20ac16.5 million ) to $ 23.2 million ( 20ac17.5 million ) in each of the years 2011 through 2015 and a total of $ 102.7 million ( 20ac77.5 million ) for the years 2016 through 2020 .for the u.s .pension plans in 2011 , we changed our return on asset assumption to 8.00 percent ( from 8.25 percent in 2010 ) and our discount rate assumption to an average of 5.55 percent ( from 6.00 percent in 2010 ) .based on the changes in assumptions , pension expense in 2011 is anticipated to be relatively flat compared to 2010 .a reduction of the expected return on pension assets assumption by a quarter of a percentage point would result in an estimated $ 2.9 million increase in the 2011 global pension expense , while a quarter of a percentage point reduction in the discount rate applied to the pension liability would result in an estimated $ 3.5 million of additional pension expense in 2011 .additional information regarding the company 2019s pension plans is provided in note 14 accompanying the consolidated financial statements within item 8 of this report .annual cash dividends paid on common stock were 20 cents per share in 2010 , 2009 and 2008 .total dividends paid were $ 35.8 million in 2010 , $ 37.4 million in 2009 and $ 37.5 million in 2008 .on january 26 , 2011 , the company 2019s board of directors approved an increase in the quarterly dividends to 7 cents per share .share repurchases our share repurchases , net of issuances , totaled $ 506.7 million in 2010 , $ 5.1 million in 2009 and $ 299.6 million in 2008 .on november 2 , 2010 , we acquired 2775408 shares of our publicly held common stock in a private transaction for $ 88.8 million .on february 17 , 2010 , we entered into an accelerated share repurchase agreement to buy $ 125.0 million of our common shares using cash on hand and available borrowings .we advanced the $ 125.0 million on february 22 , 2010 , and received 4323598 shares , which represented 90 percent of the total shares as calculated using the previous day 2019s closing price .the agreement was settled on may 20 , 2010 , and the company received an additional 398206 shares .net repurchases in 2008 included a $ 31 million settlement on january 7 , 2008 , of a forward contract entered into in december 2007 for the repurchase of 1350000 shares .from january 1 through february 24 , 2011 , ball repurchased an additional $ 143.3 million of its common stock. .
|
what percentage of total cash payments required for long-term debt maturities , rental payments under noncancellable operating leases , purchase obligations and other commitments in effect at december 31 , 2010 are comprised of long-term debt including capital leases?
|
26%
|
{
"answer": "26%",
"decimal": 0.26,
"type": "percentage"
}
| |
executive deferred compensation plan for the company 2019s executives and members of the board of directors , the company adopted the illumina , inc .deferred compensation plan ( the plan ) that became effective january 1 , 2008 .eligible participants can contribute up to 80% ( 80 % ) of their base salary and 100% ( 100 % ) of all other forms of compensation into the plan , including bonus , commission and director fees .the company has agreed to credit the participants 2019 contributions with earnings that reflect the performance of certain independent investment funds .on a discretionary basis , the company may also make employer contributions to participant accounts in any amount determined by the company .the vesting schedules of employer contributions are at the sole discretion of the compensation committee .however , all employer contributions shall become 100% ( 100 % ) vested upon the occurrence of the participant 2019s disability , death or retirement or a change in control of the company .the benefits under this plan are unsecured .participants are generally eligible to receive payment of their vested benefit at the end of their elected deferral period or after termination of their employment with the company for any reason or at a later date to comply with the restrictions of section 409a .as of december 28 , 2008 , no employer contributions were made to the plan .in january 2008 , the company also established a rabbi trust for the benefit of its directors and executives under the plan .in accordance with fasb interpretation ( fin ) no .46 , consolidation of variable interest entities , an interpretation of arb no .51 , and eitf 97-14 , accounting for deferred compensation arrangements where amounts earned are held in a rabbi trust and invested , the company has included the assets of the rabbi trust in its consolidated balance sheet since the trust 2019s inception .as of december 28 , 2008 , the assets of the trust and liabilities of the company were $ 1.3 million .the assets and liabilities are classified as other assets and accrued liabilities , respectively , on the company 2019s balance sheet as of december 28 , 2008 .changes in the values of the assets held by the rabbi trust accrue to the company .14 .segment information , geographic data and significant customers during the first quarter of 2008 , the company reorganized its operating structure into a newly created life sciences business unit , which includes all products and services related to the research market , namely the beadarray , beadxpress and sequencing product lines .the company also created a diagnostics business unit to focus on the emerging opportunity in molecular diagnostics .for the year ended december 28 , 2008 , the company had limited activity related to the diagnostics business unit , and operating results were reported on an aggregate basis to the chief operating decision maker of the company , the chief executive officer .in accordance with sfas no .131 , disclosures about segments of an enterprise and related information , the company operated in one reportable segment for the year ended december 28 , 2008 .the company had revenue in the following regions for the years ended december 28 , 2008 , december 30 , 2007 and december 31 , 2006 ( in thousands ) : year ended december 28 , year ended december 30 , year ended december 31 .
[['', 'year ended december 28 2008', 'year ended december 30 2007', 'year ended december 31 2006'], ['united states', '$ 280064', '$ 207692', '$ 103043'], ['united kingdom', '67973', '34196', '22840'], ['other european countries', '127397', '75360', '32600'], ['asia-pacific', '72740', '35155', '15070'], ['other markets', '25051', '14396', '11033'], ['total', '$ 573225', '$ 366799', '$ 184586']]
net revenues are attributable to geographic areas based on the region of destination .illumina , inc .notes to consolidated financial statements 2014 ( continued ) .
|
what percentage of total revenue in 2008 came from the asia-pacific region?
|
13%
|
{
"answer": "13%",
"decimal": 0.13,
"type": "percentage"
}
| |
capital resources and liquidity capital resources overview capital is generally generated via earnings from operating businesses .this is augmented through issuance of common stock , convertible preferred stock , preferred stock , subordinated debt , and equity issued through awards under employee benefit plans .capital is used primarily to support assets in the company 2019s businesses and to absorb unexpected market , credit or operational losses .the company 2019s uses of capital , particularly to pay dividends and repurchase common stock , became severely restricted during the latter half of 2008 .see 201cthe company , 201d 201cmanagement 2019s discussion and analysis 2013 events in 2008 , 201d 201ctarp and other regulatory programs , 201d 201crisk factors 201d and 201ccommon equity 201d on pages 2 , 9 , 44 , 47 and 95 , respectively .citigroup 2019s capital management framework is designed to ensure that citigroup and its principal subsidiaries maintain sufficient capital consistent with the company 2019s risk profile , all applicable regulatory standards and guidelines , and external rating agency considerations .the capital management process is centrally overseen by senior management and is reviewed at the consolidated , legal entity , and country level .senior management oversees the capital management process of citigroup and its principal subsidiaries mainly through citigroup 2019s finance and asset and liability committee ( finalco ) .the committee is composed of the senior-most management of citigroup for the purpose of engaging management in decision-making and related discussions on capital and liquidity items .among other things , the committee 2019s responsibilities include : determining the financial structure of citigroup and its principal subsidiaries ; ensuring that citigroup and its regulated entities are adequately capitalized ; determining appropriate asset levels and return hurdles for citigroup and individual businesses ; reviewing the funding and capital markets plan for citigroup ; and monitoring interest-rate risk , corporate and bank liquidity , the impact of currency translation on non-u.s .earnings and capital .the finalco has established capital targets for citigroup and for significant subsidiaries .at december 31 , 2008 , these targets exceeded the regulatory standards .common and preferred stock issuances as discussed under 201cevents in 2008 201d on page 9 , during 2008 , the company issued $ 45 billion in preferred stock and warrants under tarp , $ 12.5 billion of convertible preferred stock in a private offering , $ 11.7 billion of non-convertible preferred stock in public offerings , $ 3.2 billion of convertible preferred stock in public offerings , and $ 4.9 billion of common stock in public offerings .on january 23 , 2009 , pursuant to our prior agreement with the purchasers of the $ 12.5 billion convertible preferred stock issued in the private offering , the conversion price was reset from $ 31.62 per share to $ 26.35 per share .the reset will result in citigroup 2019s issuing approximately 79 million additional common shares if converted .there will be no impact to net income , total stockholders 2019 equity or capital ratios due to the reset .however , the reset will result in a reclassification from retained earnings to additional paid-in capital of $ 1.2 billion to reflect the benefit of the reset to the preferred stockholders .capital ratios citigroup is subject to risk-based capital ratio guidelines issued by the federal reserve board ( frb ) .capital adequacy is measured via two risk- based ratios , tier 1 and total capital ( tier 1 + tier 2 capital ) .tier 1 capital is considered core capital while total capital also includes other items such as subordinated debt and loan loss reserves .both measures of capital are stated as a percentage of risk-weighted assets .risk-weighted assets are measured primarily on their perceived credit risk and include certain off-balance-sheet exposures , such as unfunded loan commitments and letters of credit , and the notional amounts of derivative and foreign- exchange contracts .citigroup is also subject to the leverage ratio requirement , a non-risk-based asset ratio , which is defined as tier 1 capital as a percentage of adjusted average assets .to be 201cwell capitalized 201d under federal bank regulatory agency definitions , a bank holding company must have a tier 1 capital ratio of at least 6% ( 6 % ) , a total capital ratio of at least 10% ( 10 % ) , and a leverage ratio of at least 3% ( 3 % ) , and not be subject to an frb directive to maintain higher capital levels .as noted in the following table , citigroup maintained a 201cwell capitalized 201d position during both 2008 and 2007 .citigroup regulatory capital ratios at year end 2008 2007 .
[['at year end', '2008', '2007'], ['tier 1 capital', '11.92% ( 11.92 % )', '7.12% ( 7.12 % )'], ['total capital ( tier 1 and tier 2 )', '15.70', '10.70'], ['leverage ( 1 )', '6.08', '4.03']]
leverage ( 1 ) 6.08 4.03 ( 1 ) tier 1 capital divided by adjusted average assets .events occurring during 2008 , including the transactions with the u.s .government , affected citigroup 2019s capital ratios , and any additional u.s .government financial involvement with the company could further impact the company 2019s capital ratios .in addition , future operations will affect capital levels , and changes that the fasb has proposed regarding off-balance-sheet assets , consolidation and sale treatment could also have an impact on capital ratios .see also note 23 to the consolidated financial statements on page 175 , including 201cfunding liquidity facilities and subordinate interests . 201d .
|
what was the percentage discount given in the reset of convertible preferred stock issued in the private offering ?
|
17%
|
{
"answer": "17%",
"decimal": 0.17,
"type": "percentage"
}
| |
our refining and wholesale marketing gross margin is the difference between the prices of refined products sold and the costs of crude oil and other charge and blendstocks refined , including the costs to transport these inputs to our refineries , the costs of purchased products and manufacturing expenses , including depreciation .the crack spread is a measure of the difference between market prices for refined products and crude oil , commonly used by the industry as an indicator of the impact of price on the refining margin .crack spreads can fluctuate significantly , particularly when prices of refined products do not move in the same relationship as the cost of crude oil .as a performance benchmark and a comparison with other industry participants , we calculate midwest ( chicago ) and u.s .gulf coast crack spreads that we feel most closely track our operations and slate of products .posted light louisiana sweet ( 201clls 201d ) prices and a 6-3-2-1 ratio of products ( 6 barrels of crude oil producing 3 barrels of gasoline , 2 barrels of distillate and 1 barrel of residual fuel ) are used for the crack spread calculation .the following table lists calculated average crack spreads by quarter for the midwest ( chicago ) and gulf coast markets in 2008 .crack spreads ( dollars per barrel ) 1st qtr 2nd qtr 3rd qtr 4th qtr 2008 .
[['crack spreads ( dollars per barrel )', '1st qtr', '2nd qtr', '3rd qtr', '4th qtr', '2008'], ['chicago lls 6-3-2-1', '$ 0.07', '$ 2.71', '$ 7.81', '$ 2.31', '$ 3.27'], ['us gulf coast lls 6-3-2-1', '$ 1.39', '$ 1.99', '$ 6.32', '( $ 0.01 )', '$ 2.45']]
in addition to the market changes indicated by the crack spreads , our refining and wholesale marketing gross margin is impacted by factors such as the types of crude oil and other charge and blendstocks processed , the selling prices realized for refined products , the impact of commodity derivative instruments used to mitigate price risk and the cost of purchased products for resale .we process significant amounts of sour crude oil which can enhance our profitability compared to certain of our competitors , as sour crude oil typically can be purchased at a discount to sweet crude oil .finally , our refining and wholesale marketing gross margin is impacted by changes in manufacturing costs , which are primarily driven by the level of maintenance activities at the refineries and the price of purchased natural gas used for plant fuel .our 2008 refining and wholesale marketing gross margin was the key driver of the 43 percent decrease in rm&t segment income when compared to 2007 .our average refining and wholesale marketing gross margin per gallon decreased 37 percent , to 11.66 cents in 2008 from 18.48 cents in 2007 , primarily due to the significant and rapid increases in crude oil prices early in 2008 and lagging wholesale price realizations .our retail marketing gross margin for gasoline and distillates , which is the difference between the ultimate price paid by consumers and the cost of refined products , including secondary transportation and consumer excise taxes , also impacts rm&t segment profitability .while on average demand has been increasing for several years , there are numerous factors including local competition , seasonal demand fluctuations , the available wholesale supply , the level of economic activity in our marketing areas and weather conditions that impact gasoline and distillate demand throughout the year .in 2008 , demand began to drop due to the combination of significant increases in retail petroleum prices and a broad slowdown in general activity .the gross margin on merchandise sold at retail outlets has historically been more constant .the profitability of our pipeline transportation operations is primarily dependent on the volumes shipped through our crude oil and refined products pipelines .the volume of crude oil that we transport is directly affected by the supply of , and refiner demand for , crude oil in the markets served directly by our crude oil pipelines .key factors in this supply and demand balance are the production levels of crude oil by producers , the availability and cost of alternative modes of transportation , and refinery and transportation system maintenance levels .the volume of refined products that we transport is directly affected by the production levels of , and user demand for , refined products in the markets served by our refined product pipelines .in most of our markets , demand for gasoline peaks during the summer and declines during the fall and winter months , whereas distillate demand is more ratable throughout the year .as with crude oil , other transportation alternatives and system maintenance levels influence refined product movements .integrated gas our integrated gas strategy is to link stranded natural gas resources with areas where a supply gap is emerging due to declining production and growing demand .our integrated gas operations include marketing and transportation of products manufactured from natural gas , such as lng and methanol , primarily in the u.s. , europe and west africa .our most significant lng investment is our 60 percent ownership in a production facility in equatorial guinea , which sells lng under a long-term contract at prices tied to henry hub natural gas prices .in 2008 , its .
|
what was the average crack spread for us gulf coast lls 6-3-2-1 in the first and second quarter of 2008?
|
1.69
|
{
"answer": "1.69",
"decimal": 1.69,
"type": "float"
}
| |
humana inc .notes to consolidated financial statements 2014 ( continued ) not be estimated based on observable market prices , and as such , unobservable inputs were used .for auction rate securities , valuation methodologies include consideration of the quality of the sector and issuer , underlying collateral , underlying final maturity dates , and liquidity .recently issued accounting pronouncements there are no recently issued accounting standards that apply to us or that will have a material impact on our results of operations , financial condition , or cash flows .3 .acquisitions on december 21 , 2012 , we acquired metropolitan health networks , inc. , or metropolitan , a medical services organization , or mso , that coordinates medical care for medicare advantage beneficiaries and medicaid recipients , primarily in florida .we paid $ 11.25 per share in cash to acquire all of the outstanding shares of metropolitan and repaid all outstanding debt of metropolitan for a transaction value of $ 851 million , plus transaction expenses .the preliminary fair values of metropolitan 2019s assets acquired and liabilities assumed at the date of the acquisition are summarized as follows : metropolitan ( in millions ) .
[['', 'metropolitan ( in millions )'], ['cash and cash equivalents', '$ 49'], ['receivables net', '28'], ['other current assets', '40'], ['property and equipment', '22'], ['goodwill', '569'], ['other intangible assets', '263'], ['other long-term assets', '1'], ['total assets acquired', '972'], ['current liabilities', '-22 ( 22 )'], ['other long-term liabilities', '-99 ( 99 )'], ['total liabilities assumed', '-121 ( 121 )'], ['net assets acquired', '$ 851']]
the goodwill was assigned to the health and well-being services segment and is not deductible for tax purposes .the other intangible assets , which primarily consist of customer contracts and trade names , have a weighted average useful life of 8.4 years .on october 29 , 2012 , we acquired a noncontrolling equity interest in mcci holdings , llc , or mcci , a privately held mso headquartered in miami , florida that coordinates medical care for medicare advantage and medicaid beneficiaries primarily in florida and texas .the metropolitan and mcci transactions are expected to provide us with components of a successful integrated care delivery model that has demonstrated scalability to new markets .a substantial portion of the revenues for both metropolitan and mcci are derived from services provided to humana medicare advantage members under capitation contracts with our health plans .in addition , metropolitan and mcci provide services to medicare advantage and medicaid members under capitation contracts with third party health plans .under these capitation agreements with humana and third party health plans , metropolitan and mcci assume financial risk associated with these medicare advantage and medicaid members. .
|
what is the working capital of metropolitan?
|
95
|
{
"answer": "95",
"decimal": 95,
"type": "float"
}
| |
the following tables present a reconciliation of the beginning and ending balances of the fair value measurements using significant unobservable inputs ( level 3 ) for 2015 and 2014 , respectively: .
[['', 'level 3'], ['balance as of january 1 2015', '$ 127'], ['actual return on assets', '12'], ['purchases issuances and settlements net', '-3 ( 3 )'], ['balance as of december 31 2015', '$ 136']]
purchases , issuances and settlements , net ................................................76 balance as of december 31 , 2014 ......................................................$ 127 the company 2019s other postretirement benefit plans are partially funded and the assets are held under various trusts .the investments and risk mitigation strategies for the plans are tailored specifically for each trust .in setting new strategic asset mixes , consideration is given to the likelihood that the selected asset allocation will effectively fund the projected plan liabilities and the risk tolerance of the company .the company periodically updates the long-term , strategic asset allocations and uses various analytics to determine the optimal asset allocation .considerations include plan liability characteristics , liquidity characteristics , funding requirements , expected rates of return and the distribution of returns .in june 2012 , the company implemented a de-risking strategy for the medical bargaining trust within the plan to minimize volatility .as part of the de-risking strategy , the company revised the asset allocations to increase the matching characteristics of assets relative to liabilities .the initial de-risking asset allocation for the plan was 60% ( 60 % ) return-generating assets and 40% ( 40 % ) liability-driven assets .the investment strategies and policies for the plan reflect a balance of liability driven and return-generating considerations .the objective of minimizing the volatility of assets relative to liabilities is addressed primarily through asset 2014liability matching , asset diversification and hedging .the fixed income target asset allocation matches the bond-like and long-dated nature of the postretirement liabilities .assets are broadly diversified within asset classes to achieve risk-adjusted returns that in total lower asset volatility relative to the liabilities .the company assesses the investment strategy regularly to ensure actual allocations are in line with target allocations as appropriate .strategies to address the goal of ensuring sufficient assets to pay benefits include target allocations to a broad array of asset classes and , within asset classes strategies are employed to provide adequate returns , diversification and liquidity .the assets of the company 2019s other trusts , within the other postretirement benefit plans , have been primarily invested in equities and fixed income funds .the assets under the various other postretirement benefit trusts are invested differently based on the assets and liabilities of each trust .the obligations of the other postretirement benefit plans are dominated by obligations for the medical bargaining trust .thirty-nine percent and four percent of the total postretirement plan benefit obligations are related to the medical non-bargaining and life insurance trusts , respectively .because expected benefit payments related to the benefit obligations are so far into the future , and the size of the medical non-bargaining and life insurance trusts 2019 obligations are large compared to each trusts 2019 assets , the investment strategy is to allocate a significant portion of the assets 2019 investment to equities , which the company believes will provide the highest long-term return and improve the funding ratio .the company engages third party investment managers for all invested assets .managers are not permitted to invest outside of the asset class ( e.g .fixed income , equity , alternatives ) or strategy for which they have been appointed .investment management agreements and recurring performance and attribution analysis are used as tools to ensure investment managers invest solely within the investment strategy they have been provided .futures and options may be used to adjust portfolio duration to align with a plan 2019s targeted investment policy. .
|
what was the actual return on assets as a percentage of the 2015 ending balance?
|
8.8%
|
{
"answer": "8.8%",
"decimal": 0.08800000000000001,
"type": "percentage"
}
| |
advance auto parts , inc .and subsidiaries notes to the consolidated financial statements december 31 , 2016 , january 2 , 2016 and january 3 , 2015 ( in thousands , except per share data ) 2 .inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 89% ( 89 % ) of inventories at both december 31 , 2016 and january 2 , 2016 .under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in 2016 and prior years .as a result of utilizing lifo , the company recorded a reduction to cost of sales of $ 40711 and $ 42295 in 2016 and 2015 , respectively , and an increase to cost of sales of $ 8930 in 2014 .historically , the company 2019s overall costs to acquire inventory for the same or similar products have generally decreased as the company has been able to leverage its continued growth and execution of merchandise strategies .the increase in cost of sales for 2014 was the result of an increase in supply chain costs .product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries and the inventory of certain subsidiaries , which are valued under the first-in , first-out ( 201cfifo 201d ) method .product cores are included as part of the company 2019s merchandise costs and are either passed on to the customer or returned to the vendor .because product cores are not subject to frequent cost changes like the company 2019s other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method .inventory overhead costs purchasing and warehousing costs included in inventory as of december 31 , 2016 and january 2 , 2016 , were $ 395240 and $ 359829 , respectively .inventory balance and inventory reserves inventory balances at the end of 2016 and 2015 were as follows : december 31 , january 2 .
[['', 'december 312016', 'january 22016'], ['inventories at fifo net', '$ 4120030', '$ 4009641'], ['adjustments to state inventories at lifo', '205838', '165127'], ['inventories at lifo net', '$ 4325868', '$ 4174768']]
inventory quantities are tracked through a perpetual inventory system .the company completes physical inventories and other targeted inventory counts in its store locations to ensure the accuracy of the perpetual inventory quantities of merchandise and core inventory .in its distribution centers and branches , the company uses a cycle counting program to ensure the accuracy of the perpetual inventory quantities of merchandise and product core inventory .reserves for estimated shrink are established based on the results of physical inventories conducted by the company and other targeted inventory counts in its stores , results from recent cycle counts in its distribution facilities and historical and current loss trends .the company also establishes reserves for potentially excess and obsolete inventories based on ( i ) current inventory levels , ( ii ) the historical analysis of product sales and ( iii ) current market conditions .the company has return rights with many of its vendors and the majority of excess inventory is returned to its vendors for full credit .in certain situations , the company establishes reserves when less than full credit is expected from a vendor or when liquidating product will result in retail prices below recorded costs. .
|
how the cash flow from operations affected by the increase in inventories at fifo net in 2016?
|
-110389
|
{
"answer": "-110389",
"decimal": -110389,
"type": "float"
}
| |
notes to consolidated financial statements derivatives with credit-related contingent features certain of the firm 2019s derivatives have been transacted under bilateral agreements with counterparties who may require the firm to post collateral or terminate the transactions based on changes in the firm 2019s credit ratings .the firm assesses the impact of these bilateral agreements by determining the collateral or termination payments that would occur assuming a downgrade by all rating agencies .a downgrade by any one rating agency , depending on the agency 2019s relative ratings of the firm at the time of the downgrade , may have an impact which is comparable to the impact of a downgrade by all rating agencies .the table below presents the aggregate fair value of net derivative liabilities under such agreements ( excluding application of collateral posted to reduce these liabilities ) , the related aggregate fair value of the assets posted as collateral , and the additional collateral or termination payments that could have been called at the reporting date by counterparties in the event of a one-notch and two-notch downgrade in the firm 2019s credit ratings. .
[['$ in millions', 'as of december 2014', 'as of december 2013'], ['net derivative liabilities under bilateral agreements', '$ 35764', '$ 22176'], ['collateral posted', '30824', '18178'], ['additional collateral or termination payments for a one-notch downgrade', '1072', '911'], ['additional collateral or termination payments for a two-notch downgrade', '2815', '2989']]
additional collateral or termination payments for a one-notch downgrade 1072 911 additional collateral or termination payments for a two-notch downgrade 2815 2989 credit derivatives the firm enters into a broad array of credit derivatives in locations around the world to facilitate client transactions and to manage the credit risk associated with market- making and investing and lending activities .credit derivatives are actively managed based on the firm 2019s net risk position .credit derivatives are individually negotiated contracts and can have various settlement and payment conventions .credit events include failure to pay , bankruptcy , acceleration of indebtedness , restructuring , repudiation and dissolution of the reference entity .credit default swaps .single-name credit default swaps protect the buyer against the loss of principal on one or more bonds , loans or mortgages ( reference obligations ) in the event the issuer ( reference entity ) of the reference obligations suffers a credit event .the buyer of protection pays an initial or periodic premium to the seller and receives protection for the period of the contract .if there is no credit event , as defined in the contract , the seller of protection makes no payments to the buyer of protection .however , if a credit event occurs , the seller of protection is required to make a payment to the buyer of protection , which is calculated in accordance with the terms of the contract .credit indices , baskets and tranches .credit derivatives may reference a basket of single-name credit default swaps or a broad-based index .if a credit event occurs in one of the underlying reference obligations , the protection seller pays the protection buyer .the payment is typically a pro-rata portion of the transaction 2019s total notional amount based on the underlying defaulted reference obligation .in certain transactions , the credit risk of a basket or index is separated into various portions ( tranches ) , each having different levels of subordination .the most junior tranches cover initial defaults and once losses exceed the notional amount of these junior tranches , any excess loss is covered by the next most senior tranche in the capital structure .total return swaps .a total return swap transfers the risks relating to economic performance of a reference obligation from the protection buyer to the protection seller .typically , the protection buyer receives from the protection seller a floating rate of interest and protection against any reduction in fair value of the reference obligation , and in return the protection seller receives the cash flows associated with the reference obligation , plus any increase in the fair value of the reference obligation .132 goldman sachs 2014 annual report .
|
what was the percentage change in net derivative liabilities under bilateral agreements between 2013 and 2014?
|
61%
|
{
"answer": "61%",
"decimal": 0.61,
"type": "percentage"
}
| |
note 9 .retirement plan we maintain a defined contribution pension plan covering full-time shoreside employees who have completed the minimum period of continuous service .annual contributions to the plan are based on fixed percentages of participants 2019 salaries and years of service , not to exceed certain maximums .pension cost was $ 13.9 million , $ 12.8 million and $ 12.2 million for the years ended december 31 , 2006 , 2005 and 2004 , respectively .note 10 .income taxes we and the majority of our subsidiaries are currently exempt from united states corporate tax on income from the international opera- tion of ships pursuant to section 883 of the internal revenue code .income tax expense related to our remaining subsidiaries was not significant for the years ended december 31 , 2006 , 2005 and 2004 .final regulations under section 883 were published on august 26 , 2003 , and were effective for the year ended december 31 , 2005 .these regulations confirmed that we qualify for the exemption provid- ed by section 883 , but also narrowed the scope of activities which are considered by the internal revenue service to be incidental to the international operation of ships .the activities listed in the regula- tions as not being incidental to the international operation of ships include income from the sale of air and other transportation such as transfers , shore excursions and pre and post cruise tours .to the extent the income from such activities is earned from sources within the united states , such income will be subject to united states taxa- tion .the application of these new regulations reduced our net income for the years ended december 31 , 2006 and december 31 , 2005 by approximately $ 6.3 million and $ 14.0 million , respectively .note 11 .financial instruments the estimated fair values of our financial instruments are as follows ( in thousands ) : .
[['', '2006', '2005'], ['cash and cash equivalents', '$ 104520', '$ 125385'], ['long-term debt ( including current portion of long-term debt )', '-5474988 ( 5474988 )', '-4368874 ( 4368874 )'], ['foreign currency forward contracts in a net ( loss ) gain position', '104159', '-115415 ( 115415 )'], ['interest rate swap agreements in a net receivable position', '5856', '8456'], ['fuel swap agreements in a net payable position', '-20456 ( 20456 )', '-78 ( 78 )']]
long-term debt ( including current portion of long-term debt ) ( 5474988 ) ( 4368874 ) foreign currency forward contracts in a net ( loss ) gain position 104159 ( 115415 ) interest rate swap agreements in a net receivable position 5856 8456 fuel swap agreements in a net payable position ( 20456 ) ( 78 ) the reported fair values are based on a variety of factors and assumptions .accordingly , the fair values may not represent actual values of the financial instruments that could have been realized as of december 31 , 2006 or 2005 , or that will be realized in the future and do not include expenses that could be incurred in an actual sale or settlement .our financial instruments are not held for trading or speculative purposes .our exposure under foreign currency contracts , interest rate and fuel swap agreements is limited to the cost of replacing the contracts in the event of non-performance by the counterparties to the contracts , all of which are currently our lending banks .to minimize this risk , we select counterparties with credit risks acceptable to us and we limit our exposure to an individual counterparty .furthermore , all foreign currency forward contracts are denominated in primary currencies .cash and cash equivalents the carrying amounts of cash and cash equivalents approximate their fair values due to the short maturity of these instruments .long-term debt the fair values of our senior notes and senior debentures were esti- mated by obtaining quoted market prices .the fair values of all other debt were estimated using discounted cash flow analyses based on market rates available to us for similar debt with the same remaining maturities .foreign currency contracts the fair values of our foreign currency forward contracts were esti- mated using current market prices for similar instruments .our expo- sure to market risk for fluctuations in foreign currency exchange rates relates to six ship construction contracts and forecasted transactions .we use foreign currency forward contracts to mitigate the impact of fluctuations in foreign currency exchange rates .as of december 31 , 2006 , we had foreign currency forward contracts in a notional amount of $ 3.8 billion maturing through 2009 .as of december 31 , 2006 , the fair value of our foreign currency forward contracts related to the six ship construction contracts , which are designated as fair value hedges , was a net unrealized gain of approximately $ 106.3 mil- lion .at december 31 , 2005 , the fair value of our foreign currency for- ward contracts related to three ship construction contracts , designated as fair value hedges , was a net unrealized loss of approx- imately $ 103.4 million .the fair value of our foreign currency forward contracts related to the other ship construction contract at december 31 , 2005 , which was designated as a cash flow hedge , was an unre- alized loss , of approximately $ 7.8 million .at december 31 , 2006 , approximately 11% ( 11 % ) of the aggregate cost of the ships was exposed to fluctuations in the euro exchange rate .r o y a l c a r i b b e a n c r u i s e s l t d .3 5 notes to the consolidated financial statements ( continued ) 51392_financials-v9.qxp 6/7/07 3:40 pm page 35 .
|
what was the percentage increase in the cash and cash equivalents from 2005 to 2006
|
-16.6%
|
{
"answer": "-16.6%",
"decimal": -0.166,
"type": "percentage"
}
| |
the changes in the gross amount of unrecognized tax benefits for the year ended december 29 , 2007 are as follows: .
[['', '( in thousands )'], ['balance as of december 31 2006', '$ 337226'], ['gross amount of the decreases in unrecognized tax benefits of tax positions taken during a prior year', '-31608 ( 31608 )'], ['gross amount of the increases in unrecognized tax benefits as a result of tax positions taken during the current year', '7764'], ['amount of decreases in unrecognized tax benefits relating to settlements with taxing authorities', '-6001 ( 6001 )'], ['reductions to unrecognized tax benefits resulting from the lapse of the applicable statute of limitations', '-511 ( 511 )'], ['balance as of december 29 2007', '$ 306870']]
as of december 29 , 2007 , $ 228.4 million of unrecognized tax benefits would , if recognized , reduce the effective tax rate , as compared to $ 232.1 million as of december 31 , 2006 , the first day of cadence 2019s fiscal year .the total amounts of interest and penalties recognized in the consolidated income statement for the year ended december 29 , 2007 resulted in net tax benefits of $ 11.1 million and $ 0.4 million , respectively , primarily due to the effective settlement of tax audits during the year .the total amounts of gross accrued interest and penalties recognized in the consolidated balance sheets as of december 29 , 2007 , were $ 47.9 million and $ 9.7 million , respectively as compared to $ 65.8 million and $ 10.1 million , respectively as of december 31 , 2006 .note 9 .acquisitions for each of the acquisitions described below , the results of operations and the estimated fair value of the assets acquired and liabilities assumed have been included in cadence 2019s consolidated financial statements from the date of the acquisition .comparative pro forma financial information for all 2007 , 2006 and 2005 acquisitions have not been presented because the results of operations were not material to cadence 2019s consolidated financial statements .2007 acquisitions during 2007 , cadence acquired invarium , inc. , a san jose-based developer of advanced lithography-modeling and pattern-synthesis technology , and clear shape technologies , inc. , a san jose-based design for manufacturing technology company specializing in design-side solutions to minimize yield loss for advanced semiconductor integrated circuits .cadence acquired these two companies for an aggregate purchase price of $ 75.5 million , which included the payment of cash , the fair value of assumed options and acquisition costs .the $ 45.7 million of goodwill recorded in connection with these acquisitions is not expected to be deductible for income tax purposes .prior to acquiring clear shape technologies , inc. , cadence had an investment of $ 2.0 million in the company , representing a 12% ( 12 % ) ownership interest , which had been accounted for under the cost method of accounting .in accordance with sfas no .141 , 201cbusiness combinations , 201d cadence accounted for this acquisition as a step acquisition .subsequent adjustments to the purchase price of these acquired companies are included in the 201cother 201d line of the changes of goodwill table in note 10 below .2006 acquisition in march 2006 , cadence acquired a company for an aggregate initial purchase price of $ 25.8 million , which included the payment of cash , the fair value of assumed options and acquisition costs .the preliminary allocation of the purchase price was recorded as $ 17.4 million of goodwill , $ 9.4 million of identifiable intangible assets and $ ( 1.0 ) million of net liabilities .the $ 17.4 million of goodwill recorded in connection with this acquisition is not expected to be deductible for income tax purposes .subsequent adjustments to the purchase price of this acquired company are included in the 201cother 201d line of the changes of goodwill table in note 10 below. .
|
what is the percentage change in the gross accrued interest from 2006 to 2007?
|
-27.2%
|
{
"answer": "-27.2%",
"decimal": -0.272,
"type": "percentage"
}
| |
item 2 .properties flight equipment and fleet renewal as of december 31 , 2017 , american operated a mainline fleet of 948 aircraft .in 2017 , we continued our extensive fleet renewal program , which has provided us with the youngest fleet of the major u.s .network carriers .during 2017 , american took delivery of 57 new mainline aircraft and retired 39 mainline aircraft .we are supported by our wholly-owned and third-party regional carriers that fly under capacity purchase agreements operating as american eagle .as of december 31 , 2017 , american eagle operated 597 regional aircraft .during 2017 , we reduced our regional fleet by a net of nine aircraft , including the addition of 63 regional aircraft and retirement of 72 regional aircraft .mainline as of december 31 , 2017 , american 2019s mainline fleet consisted of the following aircraft : average seating capacity average ( years ) owned leased total .
[['', 'average seatingcapacity', 'averageage ( years )', 'owned', 'leased', 'total'], ['airbus a319', '128', '13.8', '21', '104', '125'], ['airbus a320', '150', '16.7', '10', '38', '48'], ['airbus a321', '178', '5.4', '165', '54', '219'], ['airbus a330-200', '251', '6.0', '15', '2014', '15'], ['airbus a330-300', '291', '17.4', '4', '5', '9'], ['boeing 737-800', '160', '8.1', '132', '172', '304'], ['boeing 737-8 max', '172', '0.1', '4', '2014', '4'], ['boeing 757-200', '180', '18.1', '31', '3', '34'], ['boeing 767-300er', '209', '19.1', '24', '2014', '24'], ['boeing 777-200er', '269', '17.0', '44', '3', '47'], ['boeing 777-300er', '310', '3.8', '18', '2', '20'], ['boeing 787-8', '226', '2.1', '20', '2014', '20'], ['boeing 787-9', '285', '0.7', '14', '2014', '14'], ['embraer 190', '99', '10.2', '20', '2014', '20'], ['mcdonnell douglas md-80', '140', '21.3', '13', '32', '45'], ['total', '', '10.1', '535', '413', '948']]
.
|
did american have access to more planes than american eagle at 12/31/17?
|
yes
|
{
"answer": "yes",
"decimal": 1,
"type": "bool"
}
| |
depending upon our senior unsecured debt ratings .the facilities require the maintenance of a minimum net worth and a debt to net worth coverage ratio .at december 31 , 2006 , we were in compliance with these covenants .the facilities do not include any other financial restrictions , credit rating triggers ( other than rating-dependent pricing ) , or any other provision that could require the posting of collateral .in addition to our revolving credit facilities , we had $ 150 million in uncommitted lines of credit available , including $ 75 million that expires in march 2007 and $ 75 million expiring in may 2007 .neither of these lines of credit were used as of december 31 , 2006 .we must have equivalent credit available under our five-year facilities to draw on these $ 75 million lines .dividend restrictions 2013 we are subject to certain restrictions related to the payment of cash dividends to our shareholders due to minimum net worth requirements under the credit facilities referred to above .the amount of retained earnings available for dividends was $ 7.8 billion and $ 6.2 billion at december 31 , 2006 and 2005 , respectively .we do not expect that these restrictions will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity .we declared dividends of $ 323 million in 2006 and $ 316 million in 2005 .shelf registration statement 2013 under a current shelf registration statement , we may issue any combination of debt securities , preferred stock , common stock , or warrants for debt securities or preferred stock in one or more offerings .at december 31 , 2006 , we had $ 500 million remaining for issuance under the current shelf registration statement .we have no immediate plans to issue any securities ; however , we routinely consider and evaluate opportunities to replace existing debt or access capital through issuances of debt securities under this shelf registration , and , therefore , we may issue debt securities at any time .6 .leases we lease certain locomotives , freight cars , and other property .future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2006 were as follows : millions of dollars operating leases capital leases .
[['millions of dollars', 'operatingleases', 'capital leases'], ['2007', '$ 624', '$ 180'], ['2008', '546', '173'], ['2009', '498', '168'], ['2010', '456', '148'], ['2011', '419', '157'], ['later years', '2914', '1090'], ['total minimum lease payments', '$ 5457', '$ 1916'], ['amount representing interest', 'n/a', '-680 ( 680 )'], ['present value of minimum lease payments', 'n/a', '$ 1236']]
rent expense for operating leases with terms exceeding one month was $ 798 million in 2006 , $ 728 million in 2005 , and $ 651 million in 2004 .when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term .contingent rentals and sub-rentals are not significant. .
|
in 2006 what was the percentage of the dividends declared to the amount available in retained earnings for dividends
|
4.14%
|
{
"answer": "4.14%",
"decimal": 0.0414,
"type": "percentage"
}
| |
notes to consolidated financial statements jpmorgan chase & co./2009 annual report 236 the following table presents the u.s .and non-u.s .components of income before income tax expense/ ( benefit ) and extraordinary gain for the years ended december 31 , 2009 , 2008 and 2007 .year ended december 31 , ( in millions ) 2009 2008 2007 .
[['year ended december 31 ( in millions )', '2009', '2008', '2007'], ['u.s .', '$ 6263', '$ -2094 ( 2094 )', '$ 13720'], ['non-u.s. ( a )', '9804', '4867', '9085'], ['income before income taxexpense/ ( benefit ) andextraordinary gain', '$ 16067', '$ 2773', '$ 22805']]
non-u.s. ( a ) 9804 4867 9085 income before income tax expense/ ( benefit ) and extraordinary gain $ 16067 $ 2773 $ 22805 ( a ) for purposes of this table , non-u.s .income is defined as income generated from operations located outside the u.s .note 28 2013 restrictions on cash and inter- company funds transfers the business of jpmorgan chase bank , national association ( 201cjpmorgan chase bank , n.a . 201d ) is subject to examination and regulation by the office of the comptroller of the currency ( 201cocc 201d ) .the bank is a member of the u.s .federal reserve sys- tem , and its deposits are insured by the fdic .the board of governors of the federal reserve system ( the 201cfed- eral reserve 201d ) requires depository institutions to maintain cash reserves with a federal reserve bank .the average amount of reserve balances deposited by the firm 2019s bank subsidiaries with various federal reserve banks was approximately $ 821 million and $ 1.6 billion in 2009 and 2008 , respectively .restrictions imposed by u.s .federal law prohibit jpmorgan chase and certain of its affiliates from borrowing from banking subsidiar- ies unless the loans are secured in specified amounts .such secured loans to the firm or to other affiliates are generally limited to 10% ( 10 % ) of the banking subsidiary 2019s total capital , as determined by the risk- based capital guidelines ; the aggregate amount of all such loans is limited to 20% ( 20 % ) of the banking subsidiary 2019s total capital .the principal sources of jpmorgan chase 2019s income ( on a parent company 2013only basis ) are dividends and interest from jpmorgan chase bank , n.a. , and the other banking and nonbanking subsidi- aries of jpmorgan chase .in addition to dividend restrictions set forth in statutes and regulations , the federal reserve , the occ and the fdic have authority under the financial institutions supervisory act to prohibit or to limit the payment of dividends by the banking organizations they supervise , including jpmorgan chase and its subsidiaries that are banks or bank holding companies , if , in the banking regulator 2019s opinion , payment of a dividend would consti- tute an unsafe or unsound practice in light of the financial condi- tion of the banking organization .at january 1 , 2010 and 2009 , jpmorgan chase 2019s banking subsidi- aries could pay , in the aggregate , $ 3.6 billion and $ 17.0 billion , respectively , in dividends to their respective bank holding compa- nies without the prior approval of their relevant banking regulators .the capacity to pay dividends in 2010 will be supplemented by the banking subsidiaries 2019 earnings during the year .in compliance with rules and regulations established by u.s .and non-u.s .regulators , as of december 31 , 2009 and 2008 , cash in the amount of $ 24.0 billion and $ 34.8 billion , respectively , and securities with a fair value of $ 10.2 billion and $ 23.4 billion , re- spectively , were segregated in special bank accounts for the benefit of securities and futures brokerage customers .note 29 2013 capital the federal reserve establishes capital requirements , including well-capitalized standards for the consolidated financial holding company .the occ establishes similar capital requirements and standards for the firm 2019s national banks , including jpmorgan chase bank , n.a. , and chase bank usa , n.a .there are two categories of risk-based capital : tier 1 capital and tier 2 capital .tier 1 capital includes common stockholders 2019 equity , qualifying preferred stock and minority interest less goodwill and other adjustments .tier 2 capital consists of preferred stock not qualifying as tier 1 , subordinated long-term debt and other instru- ments qualifying as tier 2 , and the aggregate allowance for credit losses up to a certain percentage of risk-weighted assets .total regulatory capital is subject to deductions for investments in certain subsidiaries .under the risk-based capital guidelines of the federal reserve , jpmorgan chase is required to maintain minimum ratios of tier 1 and total ( tier 1 plus tier 2 ) capital to risk-weighted assets , as well as minimum leverage ratios ( which are defined as tier 1 capital to average adjusted on 2013balance sheet assets ) .failure to meet these minimum requirements could cause the federal reserve to take action .banking subsidiaries also are subject to these capital requirements by their respective primary regulators .as of december 31 , 2009 and 2008 , jpmorgan chase and all of its banking sub- sidiaries were well-capitalized and met all capital requirements to which each was subject. .
|
for december 31 , 2009 , what was the total value of segregated collateral for the benefit of brokerage customers in millions?
|
34.2
|
{
"answer": "34.2",
"decimal": 34.2,
"type": "float"
}
| |
amounts due from related parties at december a031 , 2010 and 2009 con- sisted of the following ( in thousands ) : .
[['', '2010', '2009'], ['due from joint ventures', '$ 1062', '$ 228'], ['officers and employees', '2014', '153'], ['other', '5233', '8189'], ['related party receivables', '$ 6295', '$ 8570']]
gramercy capital corp .see note a0 6 , 201cinvestment in unconsolidated joint ventures 2014gramercy capital corp. , 201d for disclosure on related party transactions between gramercy and the company .13 2002equit y common stock our authorized capital stock consists of 260000000 shares , $ .01 par value , of which we have authorized the issuance of up to 160000000 shares of common stock , $ .01 par value per share , 75000000 shares of excess stock , $ .01 par value per share , and 25000000 shares of preferred stock , $ .01 par value per share .as of december a031 , 2010 , 78306702 shares of common stock and no shares of excess stock were issued and outstanding .in may 2009 , we sold 19550000 shares of our common stock at a gross price of $ 20.75 per share .the net proceeds from this offer- ing ( approximately $ 387.1 a0 million ) were primarily used to repurchase unsecured debt .perpetual preferred stock in january 2010 , we sold 5400000 shares of our series a0c preferred stock in an underwritten public offering .as a result of this offering , we have 11700000 shares of the series a0 c preferred stock outstanding .the shares of series a0c preferred stock have a liquidation preference of $ 25.00 per share and are redeemable at par , plus accrued and unpaid dividends , at any time at our option .the shares were priced at $ 23.53 per share including accrued dividends equating to a yield of 8.101% ( 8.101 % ) .we used the net offering proceeds of approximately $ 122.0 a0million for gen- eral corporate and/or working capital purposes , including purchases of the indebtedness of our subsidiaries and investment opportunities .in december 2003 , we sold 6300000 shares of our 7.625% ( 7.625 % ) series a0 c preferred stock , ( including the underwriters 2019 over-allotment option of 700000 shares ) with a mandatory liquidation preference of $ 25.00 per share .net proceeds from this offering ( approximately $ 152.0 a0 million ) were used principally to repay amounts outstanding under our secured and unsecured revolving credit facilities .the series a0c preferred stockholders receive annual dividends of $ 1.90625 per share paid on a quarterly basis and dividends are cumulative , subject to cer- tain provisions .since december a0 12 , 2008 , we have been entitled to redeem the series a0c preferred stock at par for cash at our option .the series a0c preferred stock was recorded net of underwriters discount and issuance costs .12 2002related part y transactions cleaning/securit y/messenger and restoration services through al l iance bui lding services , or al l iance , first qual i t y maintenance , a0l.p. , or first quality , provides cleaning , extermination and related services , classic security a0llc provides security services , bright star couriers a0llc provides messenger services , and onyx restoration works provides restoration services with respect to certain proper- ties owned by us .alliance is partially owned by gary green , a son of stephen a0l .green , the chairman of our board of directors .in addition , first quality has the non-exclusive opportunity to provide cleaning and related services to individual tenants at our properties on a basis sepa- rately negotiated with any tenant seeking such additional services .the service corp .has entered into an arrangement with alliance whereby it will receive a profit participation above a certain threshold for services provided by alliance to certain tenants at certain buildings above the base services specified in their lease agreements .alliance paid the service corporation approximately $ 2.2 a0million , $ 1.8 a0million and $ 1.4 a0million for the years ended december a031 , 2010 , 2009 and 2008 , respectively .we paid alliance approximately $ 14.2 a0million , $ 14.9 a0million and $ 15.1 a0million for three years ended december a031 , 2010 , respectively , for these ser- vices ( excluding services provided directly to tenants ) .leases nancy peck and company leases 1003 square feet of space at 420 lexington avenue under a lease that ends in august 2015 .nancy peck and company is owned by nancy peck , the wife of stephen a0l .green .the rent due pursuant to the lease is $ 35516 per annum for year one increas- ing to $ 40000 in year seven .from february 2007 through december 2008 , nancy peck and company leased 507 square feet of space at 420 a0 lexington avenue pursuant to a lease which provided for annual rental payments of approximately $ 15210 .brokerage services cushman a0 & wakefield sonnenblick-goldman , a0 llc , or sonnenblick , a nationally recognized real estate investment banking firm , provided mortgage brokerage services to us .mr . a0 morton holliday , the father of mr . a0 marc holliday , was a managing director of sonnenblick at the time of the financings .in 2009 , we paid approximately $ 428000 to sonnenblick in connection with the purchase of a sub-leasehold interest and the refinancing of 420 lexington avenue .management fees s.l .green management corp. , a consolidated entity , receives property management fees from an entity in which stephen a0l .green owns an inter- est .the aggregate amount of fees paid to s.l .green management corp .from such entity was approximately $ 390700 in 2010 , $ 351700 in 2009 and $ 353500 in 2008 .notes to consolidated financial statements .
|
what was the average related party receivables from 2009 to 2010
|
7432.5
|
{
"answer": "7432.5",
"decimal": 7432.5,
"type": "float"
}
| |
air mobility sales declined by $ 535 million primarily due to c-130j deliveries ( 12 in 2006 compared to 15 in 2005 ) and lower volume on the c-5 program .combat aircraft sales increased by $ 292 million mainly due to higher f-35 and f-22 volume , partially offset by reduced volume on f-16 programs .other aeronautics programs sales increased by $ 83 million primarily due to higher volume in sustainment services activities .operating profit for the segment increased 21% ( 21 % ) in 2007 compared to 2006 .operating profit increases in combat aircraft more than offset decreases in other aeronautics programs and air mobility .combat aircraft operating profit increased $ 326 million mainly due to improved performance on f-22 and f-16 programs .air mobility and other aeronautics programs declined $ 77 million due to lower operating profit in support and sustainment activities .operating profit for the segment increased 20% ( 20 % ) in 2006 compared to 2005 .operating profit increased in both combat aircraft and air mobility .combat aircraft increased $ 114 million , mainly due to higher volume on the f-35 and f-22 programs , and improved performance on f-16 programs .the improvement for the year was also attributable in part to the fact that in 2005 , operating profit included a reduction in earnings on the f-35 program .air mobility operating profit increased $ 84 million , mainly due to improved performance on c-130j sustainment activities in 2006 .backlog decreased in 2007 as compared to 2006 primarily as a result of sales volume on the f-35 program .this decrease was offset partially by increased orders on the f-22 and c-130j programs .electronic systems electronic systems 2019 operating results included the following : ( in millions ) 2007 2006 2005 .
[['( in millions )', '2007', '2006', '2005'], ['net sales', '$ 11143', '$ 10519', '$ 9811'], ['operating profit', '1410', '1264', '1078'], ['backlog at year-end', '21200', '19700', '18600']]
net sales for electronic systems increased by 6% ( 6 % ) in 2007 compared to 2006 .sales increased in missiles & fire control ( m&fc ) , maritime systems & sensors ( ms2 ) , and platform , training & energy ( pt&e ) .m&fc sales increased $ 258 million mainly due to higher volume in fire control systems and air defense programs , which more than offset declines in tactical missile programs .ms2 sales grew $ 254 million due to volume increases in undersea and radar systems activities that were offset partially by decreases in surface systems activities .pt&e sales increased $ 113 million , primarily due to higher volume in platform integration activities , which more than offset declines in distribution technology activities .net sales for electronic systems increased by 7% ( 7 % ) in 2006 compared to 2005 .higher volume in platform integration activities led to increased sales of $ 329 million at pt&e .ms2 sales increased $ 267 million primarily due to surface systems activities .air defense programs contributed to increased sales of $ 118 million at m&fc .operating profit for the segment increased by 12% ( 12 % ) in 2007 compared to 2006 , representing an increase in all three lines of business during the year .operating profit increased $ 70 million at pt&e primarily due to higher volume and improved performance on platform integration activities .ms2 operating profit increased $ 32 million due to higher volume on undersea and tactical systems activities that more than offset lower volume on surface systems activities .at m&fc , operating profit increased $ 32 million due to higher volume in fire control systems and improved performance in tactical missile programs , which partially were offset by performance on certain international air defense programs in 2006 .operating profit for the segment increased by 17% ( 17 % ) in 2006 compared to 2005 .operating profit increased by $ 74 million at ms2 mainly due to higher volume on surface systems and undersea programs .pt&e operating profit increased $ 61 million mainly due to improved performance on distribution technology activities .higher volume on air defense programs contributed to a $ 52 million increase in operating profit at m&fc .the increase in backlog during 2007 over 2006 resulted primarily from increased orders for certain tactical missile programs and fire control systems at m&fc and platform integration programs at pt&e. .
|
what was the average operating profit from 2005 to 2007
|
1250.6
|
{
"answer": "1250.6",
"decimal": 1250.6,
"type": "float"
}
| |
operating profit for the segment increased 10% ( 10 % ) in 2009 compared to 2008 .the growth in operating profit primarily was due to increases in air mobility and other aeronautics programs .the $ 70 million increase in air mobility 2019s operating profit primarily was due to the higher volume on c-130j deliveries and c-130 support programs .in other aeronautics programs , operating profit increased $ 120 million , which mainly was attributable to improved performance in sustainment activities and higher volume on p-3 programs .additionally , the increase in operating profit included the favorable restructuring of a p-3 modification contract in 2009 .combat aircraft 2019s operating profit decreased $ 22 million during the year primarily due to a reduction in the level of favorable performance adjustments on f-16 programs in 2009 compared to 2008 and lower volume on other combat aircraft programs .these decreases more than offset increased operating profit resulting from higher volume and improved performance on the f-35 program and an increase in the level of favorable performance adjustments on the f-22 program in 2009 compared to 2008 .the remaining change in operating profit is attributable to a decrease in other income , net , between the comparable periods .backlog increased in 2010 compared to 2009 mainly due to orders exceeding sales on the c-130j , f-35 and c-5 programs , which partially were offset by higher sales volume compared to new orders on the f-22 program in 2010 .backlog decreased in 2009 compared to 2008 mainly due to sales exceeding orders on the f-22 and f-35 programs , which partially were offset by orders exceeding sales on the c-130j and c-5 programs .we expect aeronautics will have sales growth in the upper single digit percentage range for 2011 as compared to 2010 .this increase primarily is driven by growth on f-35 low rate initial production ( lrip ) contracts , c-130j and c-5 rerp programs that will more than offset a decline on the f-22 program .operating profit is projected to increase at a mid single digit percentage rate above 2010 levels , resulting in a decline in operating margins between the years .similar to the relationship of operating margins from 2009 to 2010 discussed above , the expected operating margin decrease from 2010 to 2011 reflects the trend of aeronautics performing more development and initial production work on the f-35 program and is performing less work on more mature programs such as the f-22 and f-16 , even though sales are expected to increase in 2011 relative to 2010 .electronic systems our electronic systems business segment manages complex programs and designs , develops , produces , and integrates hardware and software solutions to ensure the mission readiness of armed forces and government agencies worldwide .the segment 2019s three lines of business are mission systems & sensors ( ms2 ) , missiles & fire control ( m&fc ) , and global training & logistics ( gt&l ) .with such a broad portfolio of programs to provide products and services , many of its activities involve a combination of both development and production contracts with varying delivery schedules .some of its more significant programs , including the thaad system , the aegis weapon system , and the littoral combat ship program , demonstrate the diverse products and services electronic systems provides .electronic systems 2019 operating results included the following : ( in millions ) 2010 2009 2008 .
[['( in millions )', '2010', '2009', '2008'], ['net sales', '$ 14363', '$ 13532', '$ 12803'], ['operating profit', '1712', '1660', '1583'], ['operating margin', '11.9% ( 11.9 % )', '12.3% ( 12.3 % )', '12.4% ( 12.4 % )'], ['backlog at year-end', '23200', '23100', '23500']]
net sales for electronic systems increased by 6% ( 6 % ) in 2010 compared to 2009 .sales increased in all three lines of business during the year .the $ 421 million increase at gt&l primarily was due to growth on readiness and stability operations , which partially was offset by lower volume on simulation & training programs .the $ 316 million increase at m&fc primarily was due to higher volume on tactical missile and air defense programs , which partially was offset by a decline in volume on fire control systems .the $ 94 million increase at ms2 mainly was due to higher volume on surface naval warfare , ship & aviation systems , and radar systems programs , which partially was offset by lower volume on undersea warfare programs .net sales for electronic systems increased by 6% ( 6 % ) in 2009 compared to 2008 .sales increases in m&fc and gt&l more than offset a decline in ms2 .the $ 429 million increase in sales at m&fc primarily was due to growth on tactical missile programs and fire control systems .the $ 355 million increase at gt&l primarily was due to growth on simulation and training activities and readiness and stability operations .the increase in simulation and training also included sales from the first quarter 2009 acquisition of universal systems and technology , inc .the $ 55 million decrease at ms2 mainly was due to lower volume on ship & aviation systems and undersea warfare programs , which partially were offset by higher volume on radar systems and surface naval warfare programs. .
|
what is the growth rate in the net sales from 2008 to 2009?
|
5.7%
|
{
"answer": "5.7%",
"decimal": 0.057,
"type": "percentage"
}
| |
"distribution date" ) .until the distribution date ( or earlier redemption or expiration of the rights ) , the rights will be traded with , and only with , the common stock .until a right is exercised , the right will not entitle the holder thereof to any rights as a stockholder .if any person or group becomes an acquiring person , each holder of a right , other than rights beneficially owned by the acquiring person , will thereafter have the right to receive upon exercise and payment of the purchase price that number of shares of common stock having a market value of two times the purchase price and , if the company is acquired in a business combination transaction or 50% ( 50 % ) or more of its assets are sold , each holder of a right will thereafter have the right to receive upon exercise and payment of the purchase price that number of shares of common stock of the acquiring company which at the time of the transaction will have a market value of two times the purchase price .at any time after any person becomes an acquiring person and prior to the acquisition by such person or group of 50% ( 50 % ) or more of the outstanding common stock , the board of directors of the company may cause the rights ( other than rights owned by such person or group ) to be exchanged , in whole or in part , for common stock or junior preferred shares , at an exchange rate of one share of common stock per right or one half of one-hundredth of a junior preferred share per right .at any time prior to the acquisition by a person or group of beneficial ownership of 15% ( 15 % ) or more of the outstanding common stock , the board of directors of the company may redeem the rights at a price of $ 0.01 per right .the rights have certain anti-takeover effects , in that they will cause substantial dilution to a person or group that attempts to acquire a significant interest in vertex on terms not approved by the board of directors .common stock reserved for future issuance at december 31 , 2005 , the company has reserved shares of common stock for future issuance under all equity compensation plans as follows ( shares in thousands ) : o .significant revenue arrangements the company has formed strategic collaborations with pharmaceutical companies and other organizations in the areas of drug discovery , development , and commercialization .research , development and commercialization agreements provide the company with financial support and other valuable resources for its research programs and for the development of clinical drug candidates , and the marketing and sales of products .collaborative research , development and commercialization agreements in the company's collaborative research , development and commercialization programs the company seeks to discover , develop and commercialize pharmaceutical products in conjunction with and supported by the company's collaborators .collaborative research and development arrangements may provide research funding over an initial contract period with renewal and termination options that .
[['common stock under stock and option plans', '17739'], ['common stock under the vertex purchase plan', '842'], ['common stock under the vertex 401 ( k ) plan', '270'], ['total', '18851']]
.
|
what percent of the total common stock is under the vertex purchase plan?
|
4.5%
|
{
"answer": "4.5%",
"decimal": 0.045,
"type": "percentage"
}
| |
recognized total losses and expenses of $ 28.6 million , including a net loss on write-down to fair value of the assets and certain other transaction fees of $ 27.1 million within other expenses and $ 1.5 million of legal and other fees .2022 professional fees and outside services expense decreased in 2017 compared to 2016 , largely due to higher legal and regulatory fees in 2016 related to our business activities and product offerings as well as higher professional fees related to a greater reliance on consultants for security and systems enhancement work .the overall decrease in operating expenses in 2017 when compared with 2016 was partially offset by the following increases : 2022 licensing and other fee sharing agreements expense increased due to higher expense resulting from incentive payments made to facilitate the transition of the russell contract open interest , as well as increased costs of revenue sharing agreements for certain licensed products .the overall increase in 2017 was partially offset by lower expense related to revenue sharing agreements for certain equity and energy contracts due to lower volume for these products compared to 2016 .2022 compensation and benefits expense increased as a result of higher average headcount primarily in our international locations as well as normal cost of living adjustments .2016 compared with 2015 operating expenses increased by $ 54.4 million in 2016 when compared with 2015 .the following table shows the estimated impact of key factors resulting in the net decrease in operating expenses .( dollars in millions ) over-year change change as a percentage of 2015 expenses .
[['( dollars in millions )', 'year-over-yearchange', 'change as apercentage of2015 expenses'], ['loss on datacenter and related legal fees', '$ 28.6', '2% ( 2 % )'], ['professional fees and outside services', '24.4', '2'], ['foreign currency exchange rate fluctuation', '13.2', '1'], ['licensing and other fee agreements', '12.0', '1'], ['reorganization severance and retirement costs', '-8.1 ( 8.1 )', '-1 ( 1 )'], ['real estate taxes and fees', '-10.0 ( 10.0 )', '-1 ( 1 )'], ['other expenses net', '-5.7 ( 5.7 )', '2014'], ['total', '$ 54.4', '4% ( 4 % )']]
overall operating expenses increased in 2016 when compared with 2015 due to the following reasons : 2022 in 2016 , we recognized total losses and expenses of $ 28.6 million , including a net loss on write-down to fair value of the assets and certain other transaction fees of $ 27.1 million within other expenses and $ 1.5 million of legal and other fees as a result of our sale and leaseback of our datacenter .2022 professional fees and outside services expense increased in 2016 largely due to an increase in legal and regulatory efforts related to our business activities and product offerings as well as an increase in professional fees related to a greater reliance on consultants for security and systems enhancement work .2022 in 2016 , we recognized a net loss of $ 24.5 million due to an unfavorable change in exchange rates on foreign cash balances , compared with a net loss of $ 11.3 million in 2015 .2022 licensing and other fee sharing agreements expense increased due to higher expense related to revenue sharing agreements for certain equity and energy contracts due to both higher volume and an increase in license rates for certain equity and energy products. .
|
the loss on datacenter and related legal fees are how much of the total year over year change in expenses?
|
52.6%
|
{
"answer": "52.6%",
"decimal": 0.526,
"type": "percentage"
}
| |
part ii item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities .the company 2019s common stock is listed on the new york stock exchange where it trades under the symbol aa .the company 2019s quarterly high and low trading stock prices and dividends per common share for 2015 and 2014 are shown below. .
[['quarter', '2015 high', '2015 low', '2015 dividend', '2015 high', '2015 low', 'dividend'], ['first', '$ 17.10', '$ 12.65', '$ 0.03', '$ 12.97', '$ 9.82', '$ 0.03'], ['second', '14.29', '11.15', '0.03', '15.18', '12.34', '0.03'], ['third', '11.23', '7.97', '0.03', '17.36', '14.56', '0.03'], ['fourth', '11.18', '7.81', '0.03', '17.75', '13.71', '0.03'], ['year', '17.10', '7.81', '$ 0.12', '17.75', '9.82', '$ 0.12']]
the number of holders of record of common stock was approximately 10101 as of february 11 , 2016. .
|
considering the fourth quarter , what is the variation between the low trading stock prices during 2014 and 2015?
|
5.9
|
{
"answer": "5.9",
"decimal": 5.9,
"type": "float"
}
|
it is the difference between those two prices during 2015 and 2014 .
|
special asset pool special asset pool ( sap ) , which constituted approximately 22% ( 22 % ) of citi holdings by assets as of december 31 , 2010 , is a portfolio of securities , loans and other assets that citigroup intends to actively reduce over time through asset sales and portfolio run-off .at december 31 , 2010 , sap had $ 80 billion of assets .sap assets have declined by $ 248 billion , or 76% ( 76 % ) , from peak levels in 2007 reflecting cumulative write-downs , asset sales and portfolio run-off .in millions of dollars 2010 2009 2008 % ( % ) change 2010 vs .2009 % ( % ) change 2009 vs .2008 .
[['in millions of dollars', '2010', '2009', '2008', '% ( % ) change 2010 vs . 2009', '% ( % ) change 2009 vs . 2008'], ['net interest revenue', '$ 1219', '$ 2754', '$ 2676', '( 56 ) % ( % )', '3% ( 3 % )'], ['non-interest revenue', '1633', '-6014 ( 6014 )', '-42375 ( 42375 )', 'nm', '86'], ['revenues net of interest expense', '$ 2852', '$ -3260 ( 3260 )', '$ -39699 ( 39699 )', 'nm', '92% ( 92 % )'], ['total operating expenses', '$ 548', '$ 824', '$ 893', '( 33 ) % ( % )', '( 8 ) % ( % )'], ['net credit losses', '$ 2013', '$ 5399', '$ 906', '( 63 ) % ( % )', 'nm'], ['provision ( releases ) for unfunded lending commitments', '-76 ( 76 )', '111', '-172 ( 172 )', 'nm', 'nm'], ['credit reserve builds ( releases )', '-1711 ( 1711 )', '-530 ( 530 )', '2677', 'nm', 'nm'], ['provisions for credit losses and for benefits and claims', '$ 226', '$ 4980', '$ 3411', '( 95 ) % ( % )', '46% ( 46 % )'], ['income ( loss ) from continuing operations before taxes', '$ 2078', '$ -9064 ( 9064 )', '$ -44003 ( 44003 )', 'nm', '79% ( 79 % )'], ['income taxes ( benefits )', '905', '-3695 ( 3695 )', '-16714 ( 16714 )', 'nm', '78'], ['net income ( loss ) from continuing operations', '$ 1173', '$ -5369 ( 5369 )', '$ -27289 ( 27289 )', 'nm', '80% ( 80 % )'], ['net income ( loss ) attributable to noncontrolling interests', '188', '-16 ( 16 )', '-205 ( 205 )', 'nm', '92'], ['net income ( loss )', '$ 985', '$ -5353 ( 5353 )', '$ -27084 ( 27084 )', 'nm', '80% ( 80 % )'], ['eop assets ( in billions of dollars )', '$ 80', '$ 136', '$ 219', '( 41 ) % ( % )', '( 38 ) % ( % )']]
nm not meaningful 2010 vs .2009 revenues , net of interest expense increased $ 6.1 billion , primarily due to the improvement of revenue marks in 2010 .aggregate marks were negative $ 2.6 billion in 2009 as compared to positive marks of $ 3.4 billion in 2010 ( see 201citems impacting sap revenues 201d below ) .revenue in the current year included positive marks of $ 2.0 billion related to sub-prime related direct exposure , a positive $ 0.5 billion cva related to the monoline insurers , and $ 0.4 billion on private equity positions .these positive marks were partially offset by negative revenues of $ 0.5 billion on alt-a mortgages and $ 0.4 billion on commercial real estate .operating expenses decreased 33% ( 33 % ) in 2010 , mainly driven by the absence of the u.s .government loss-sharing agreement , lower compensation , and lower transaction expenses .provisions for credit losses and for benefits and claims decreased $ 4.8 billion due to a decrease in net credit losses of $ 3.4 billion and a higher release of loan loss reserves and unfunded lending commitments of $ 1.4 billion .assets declined 41% ( 41 % ) from the prior year , primarily driven by sales and amortization and prepayments .asset sales of $ 39 billion for the year of 2010 generated pretax gains of approximately $ 1.3 billion .2009 vs .2008 revenues , net of interest expense increased $ 36.4 billion in 2009 , primarily due to the absence of significant negative revenue marks occurring in the prior year .total negative marks were $ 2.6 billion in 2009 as compared to $ 37.4 billion in 2008 .revenue in 2009 included positive marks of $ 0.8 billion on subprime-related direct exposures .these positive revenues were partially offset by negative revenues of $ 1.5 billion on alt-a mortgages , $ 0.8 billion of write-downs on commercial real estate , and a negative $ 1.6 billion cva on the monoline insurers and fair value option liabilities .revenue was also affected by negative marks on private equity positions and write-downs on highly leveraged finance commitments .operating expenses decreased 8% ( 8 % ) in 2009 , mainly driven by lower compensation and lower volumes and transaction expenses , partially offset by costs associated with the u.s .government loss-sharing agreement exited in the fourth quarter of 2009 .provisions for credit losses and for benefits and claims increased $ 1.6 billion , primarily driven by $ 4.5 billion in increased net credit losses , partially offset by a lower provision for loan losses and unfunded lending commitments of $ 2.9 billion .assets declined 38% ( 38 % ) versus the prior year , primarily driven by amortization and prepayments , sales , marks and charge-offs. .
|
what percentage of revenue net of interest expense is due to net interest revenue in 2010?
|
43%
|
{
"answer": "43%",
"decimal": 0.43,
"type": "percentage"
}
| |
table of contents our certificate of incorporation and bylaws include anti-takeover provisions that may make it difficult for another company to acquire control of us or limit the price investors might be willing to pay for our stock .certain provisions of our certificate of incorporation and bylaws could delay the removal of incumbent directors and could make it more difficult to successfully complete a merger , tender offer , or proxy contest involving us .our certificate of incorporation has provisions that give our board the ability to issue preferred stock and determine the rights and designations of the preferred stock at any time without stockholder approval .the rights of the holders of our common stock will be subject to , and may be adversely affected by , the rights of the holders of any preferred stock that may be issued in the future .the issuance of preferred stock , while providing flexibility in connection with possible acquisitions and other corporate purposes , could have the effect of making it more difficult for a third party to acquire , or of discouraging a third party from acquiring , a majority of our outstanding voting stock .in addition , the staggered terms of our board of directors could have the effect of delaying or deferring a change in control .in addition , certain provisions of the delaware general corporation law ( dgcl ) , including section 203 of the dgcl , may have the effect of delaying or preventing changes in the control or management of illumina .section 203 of the dgcl provides , with certain exceptions , for waiting periods applicable to business combinations with stockholders owning at least 15% ( 15 % ) and less than 85% ( 85 % ) of the voting stock ( exclusive of stock held by directors , officers , and employee plans ) of a company .the above factors may have the effect of deterring hostile takeovers or otherwise delaying or preventing changes in the control or management of illumina , including transactions in which our stockholders might otherwise receive a premium over the fair market value of our common stock .item 1b .unresolved staff comments .item 2 .properties .the following table summarizes the facilities we leased as of december 30 , 2018 , including the location and size of each principal facility , and their designated use .we believe our facilities are adequate for our current and near-term needs , and we will be able to locate additional facilities , as needed .location approximate square feet operation expiration dates .
[['location', 'approximate square feet', 'operation', 'leaseexpiration dates'], ['san diego ca', '1195000', 'r&d manufacturing warehouse distribution and administrative', '2019 2013 2031'], ['san francisco bay area ca', '501000', 'r&d manufacturing warehouse and administrative', '2020 2013 2033'], ['singapore', '395000', 'r&d manufacturing warehouse distribution and administrative', '2020 2013 2025'], ['cambridge united kingdom', '263000', 'r&d manufacturing and administrative', '2019 2013 2039'], ['madison wi', '205000', 'r&d manufacturing warehouse distribution and administrative', '2019 2013 2033'], ['eindhoven the netherlands', '42000', 'distribution and administrative', '2020'], ['other*', '86000', 'administrative', '2019 2013 2023']]
________________ *excludes approximately 48000 square feet for which the leases do not commence until 2019 and beyond .item 3 .legal proceedings .see discussion of legal proceedings in note 201c7 .legal proceedings 201d in part ii , item 8 of this report , which is incorporated by reference herein .item 4 .mine safety disclosures .not applicable. .
|
as of december 30 , 2018 what was the ratio of the approximate square feet operation leased in san francisco bay area ca to singapore
|
1.3
|
{
"answer": "1.3",
"decimal": 1.3,
"type": "float"
}
|
as of december 30 , 2018 the ratio of the approximate square feet of operation leased in san francisco bay area ca to singapore was 1.3 to 1
|
2022 reed city , michigan 2022 chanhassen , minnesota 2013 bakeries & foodservice segment 2022 hannibal , missouri 2022 joplin , missouri 2013 bakeries & foodservice segment 2022 vineland , new jersey 2022 albuquerque , new mexico 2022 buffalo , new york 2022 martel , ohio 2013 bakeries & foodservice segment 2022 wellston , ohio 2022 murfreesboro , tennessee 2022 milwaukee , wisconsin we own flour mills at eight locations : vallejo , california ( not currently operating ) ; vernon , california ; avon , iowa ; minneapolis , minnesota ( 2 ) ; kansas city , missouri ; great falls , montana ; and buffalo , new york .we also operate six terminal grain elevators ( in minnesota and wisconsin , two of which are leased ) , and have country grain elevators in seven locations ( primarily in idaho ) , plus additional seasonal elevators ( primarily in idaho ) .we also own or lease warehouse space aggregating approximately 12.2 million square feet , of which approxi- mately 9.6 million square feet are leased .we lease a number of sales and administrative offices in the united states , canada and elsewhere around the world , totaling approxi- mately 2.8 million square feet .item 3 legal proceedings we are the subject of various pending or threatened legal actions in the ordinary course of our business .all such matters are subject to many uncertainties and outcomes that are not predictable with assurance .in our manage- ment 2019s opinion , there were no claims or litigation pending as of may 28 , 2006 , that are reasonably likely to have a material adverse effect on our consolidated financial posi- tion or results of operations .item 4 submission of matters to a vote of security holders part ii item 5 market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our common stock is listed on the new york stock exchange .on july 14 , 2006 , there were approximately 34675 record holders of our common stock .information regarding the market prices for our common stock and dividend payments for the two most recent fiscal years is set forth in note eighteen to the consolidated financial statements on page 53 in item eight of this report .infor- mation regarding restrictions on our ability to pay dividends in certain situations is set forth in note eight to the consol- idated financial statements on pages 43 and 44 in item eight of this report .the following table sets forth information with respect to shares of our common stock that we purchased during the three fiscal months ended may 28 , 2006 : issuer purchases of equity securities period number of shares purchased ( a ) average price paid per share total number of shares purchased as part of a publicly announced program maximum number of shares that may yet be purchased under the program ( b ) february 27 , 2006 through april 2 , 2006 111772 $ 49.55 2013 2013 april 3 , 2006 through april 30 , 2006 445466 $ 49.06 2013 2013 may 1 , 2006 through may 28 , 2006 1182100 $ 49.79 2013 2013 .
[['period', 'totalnumberof sharespurchased ( a )', 'averageprice paidper share', 'total numberof sharespurchased aspart of apubliclyannouncedprogram', 'maximumnumberof sharesthat may yetbe purchasedundertheprogram ( b )'], ['february 27 2006 through april 2 2006', '111772', '$ 49.55', '2013', '2013'], ['april 3 2006 through april 30 2006', '445466', '$ 49.06', '2013', '2013'], ['may 1 2006 through may 28 2006', '1182100', '$ 49.79', '2013', '2013'], ['total', '1739338', '$ 49.59', '2013', '2013']]
( a ) the total number of shares purchased includes : ( i ) 231500 shares purchased from the esop fund of our 401 ( k ) savings plan ; ( ii ) 8338 shares of restricted stock withheld for the payment of with- holding taxes upon vesting of restricted stock ; and ( iii ) 1499500 shares purchased in the open market .( b ) on february 21 , 2000 , we announced that our board of directors autho- rized us to repurchase up to 170 million shares of our common stock to be held in our treasury .the board did not specify a time period or an expiration date for the authorization. .
|
what percentage of repurchased stock was purchased in the open market?
|
86.21%
|
{
"answer": "86.21%",
"decimal": 0.8621,
"type": "percentage"
}
| |
.
[['contractual obligations', 'payments due by period ( in thousands ) total', 'payments due by period ( in thousands ) 2017', 'payments due by period ( in thousands ) 2018', 'payments due by period ( in thousands ) 2019', 'payments due by period ( in thousands ) 2020', 'payments due by period ( in thousands ) 2021', 'payments due by period ( in thousands ) thereafter'], ['long-term debt ( 1 )', '$ 3508789', '$ 203244', '$ 409257', '$ 366456', '$ 461309', '$ 329339', '$ 1739184'], ['line of credit ( 2 )', '56127', '2650', '2650', '2650', '48177', '2014', '2014'], ["share of unconsolidated joint ventures' debt ( 3 )", '91235', '2444', '28466', '5737', '11598', '1236', '41754'], ['ground leases', '311120', '10745', '5721', '5758', '5793', '5822', '277281'], ['development and construction backlog costs ( 4 )', '344700', '331553', '13147', '2014', '2014', '2014', '2014'], ['other', '43357', '7502', '7342', '5801', '4326', '3906', '14480'], ['total contractual obligations', '$ 4355328', '$ 558138', '$ 466583', '$ 386402', '$ 531203', '$ 340303', '$ 2072699']]
( 1 ) our long-term debt consists of both secured and unsecured debt and includes both principal and interest .interest payments for variable rate debt were calculated using the interest rates as of december 31 , 2016 .repayment of our $ 250.0 million variable rate term note , which has a contractual maturity date in january 2019 , is reflected as a 2020 obligation in the table above based on the ability to exercise a one-year extension , which we may exercise at our discretion .( 2 ) our unsecured line of credit has a contractual maturity date in january 2019 , but is reflected as a 2020 obligation in the table above based on the ability to exercise a one-year extension , which we may exercise at our discretion .interest payments for our unsecured line of credit were calculated using the most recent stated interest rate that was in effect.ff ( 3 ) our share of unconsolidated joint venture debt includes both principal and interest .interest expense for variable rate debt was calculated using the interest rate at december 31 , 2016 .( 4 ) represents estimated remaining costs on the completion of owned development projects and third-party construction projects .related party y transactionstt we provide property and asset management , leasing , construction and other tenant-related services to ww unconsolidated companies in which we have equity interests .for the years ended december 31 , 2016 , 2015 and 2014 we earned management fees of $ 4.5 million , $ 6.8 million and $ 8.5 million , leasing fees of $ 2.4 million , $ 3.0 million and $ 3.4 million and construction and development fees of $ 8.0 million , $ 6.1 million and $ 5.8 million , respectively , from these companies , prior to elimination of our ownership percentage .yy we recorded these fees based ww on contractual terms that approximate market rates for these types of services and have eliminated our ownership percentages of these fees in the consolidated financial statements .commitments and contingenciesg the partnership has guaranteed the repayment of $ 32.9 million of economic development bonds issued by various municipalities in connection with certain commercial developments .we will be required to make payments under ww our guarantees to the extent that incremental taxes from specified developments are not sufficient to pay the bond ff debt service .management does not believe that it is probable that we will be required to make any significant payments in satisfaction of these guarantees .the partnership also has guaranteed the repayment of an unsecured loan of one of our unconsolidated subsidiaries .at december 31 , 2016 , the maximum guarantee exposure for this loan was approximately $ 52.1 million .we lease certain land positions with terms extending toww march 2114 , with a total future payment obligation of $ 311.1 million .the payments on these ground leases , which are classified as operating leases , are not material in any individual year .in addition to ground leases , we are party to other operating leases as part of conducting our business , including leases of office space from third parties , with a total future payment obligation of ff $ 43.4 million at december 31 , 2016 .no future payments on these leases are material in any individual year .we are subject to various legal proceedings and claims that arise in the ordinary course of business .in the opinion ww of management , the amount of any ultimate liability with respect to these actions is not expected to materially affect ff our consolidated financial statements or results of operations .we own certain parcels of land that are subject to special property tax assessments levied by quasi municipalww entities .to the extent that such special assessments are fixed and determinable , the discounted value of the fulltt .
|
what was the percent of the total contractual obligations that was associated with long-term debt that was due in 2017
|
5.8%
|
{
"answer": "5.8%",
"decimal": 0.057999999999999996,
"type": "percentage"
}
|
[10] : for the years ended december 31 , 2016 , 2015 and 2014 we earned management fees of $ 4.5 million , $ 6.8 million and $ 8.5 million , leasing fees of $ 2.4 million , $ 3.0 million and $ 3.4 million and construction and development fees of $ 8.0 million , $ 6.1 million and $ 5.8 million , respectively , from these companies , prior to elimination of our ownership percentage .
|
packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2006 4 .stock-based compensation ( continued ) as of december 31 , 2006 , there was $ 8330000 of total unrecognized compensation costs related to the restricted stock awards .the company expects to recognize the cost of these stock awards over a weighted-average period of 2.5 years .5 .accrued liabilities the components of accrued liabilities are as follows: .
[['( in thousands )', 'december 31 , 2006', 'december 31 , 2005'], ['bonuses and incentives', '$ 29822', '$ 21895'], ['medical insurance and workers 2019 compensation', '18279', '18339'], ['vacation and holiday pay', '14742', '14159'], ['customer volume discounts and rebates', '13777', '13232'], ['franchise and property taxes', '8432', '8539'], ['payroll and payroll taxes', '5465', '4772'], ['other', '9913', '5889'], ['total', '$ 100430', '$ 86825']]
6 .employee benefit plans and other postretirement benefits in connection with the acquisition from pactiv , pca and pactiv entered into a human resources agreement which , among other items , granted pca employees continued participation in the pactiv pension plan for a period of up to five years following the closing of the acquisition for an agreed upon fee .effective january 1 , 2003 , pca adopted a mirror-image pension plan for eligible hourly employees to succeed the pactiv pension plan in which pca hourly employees had participated though december 31 , 2002 .the pca pension plan for hourly employees recognizes service earned under both the pca plan and the prior pactiv plan .benefits earned under the pca plan are reduced by retirement benefits earned under the pactiv plan through december 31 , 2002 .all assets and liabilities associated with benefits earned through december 31 , 2002 for hourly employees and retirees of pca were retained by the pactiv plan .effective may 1 , 2004 , pca adopted a grandfathered pension plan for certain salaried employees who had previously participated in the pactiv pension plan pursuant to the above mentioned human resource agreement .the benefit formula for the new pca pension plan for salaried employees is comparable to that of the pactiv plan except that the pca plan uses career average base pay in the benefit formula in lieu of final average base pay .the pca pension plan for salaried employees recognizes service earned under both the pca plan and the prior pactiv plan .benefits earned under the pca plan are reduced by retirement benefits earned under the pactiv plan through april 30 , 2004 .all assets and liabilities associated with benefits earned through april 30 , 2004 for salaried employees and retirees of pca were retained by the pactiv plan .pca maintains a supplemental executive retirement plan ( 201cserp 201d ) , which augments pension benefits for eligible executives ( excluding the ceo ) earned under the pca pension plan for salaried employees .benefits are determined using the same formula as the pca pension plan but in addition to counting .
|
what was the percentage change in bonuses and incentives from 2005 to 2006?
|
36%
|
{
"answer": "36%",
"decimal": 0.36,
"type": "percentage"
}
| |
executive deferred compensation plan for the company 2019s executives and members of the board of directors , the company adopted the illumina , inc .deferred compensation plan ( the plan ) that became effective january 1 , 2008 .eligible participants can contribute up to 80% ( 80 % ) of their base salary and 100% ( 100 % ) of all other forms of compensation into the plan , including bonus , commission and director fees .the company has agreed to credit the participants 2019 contributions with earnings that reflect the performance of certain independent investment funds .on a discretionary basis , the company may also make employer contributions to participant accounts in any amount determined by the company .the vesting schedules of employer contributions are at the sole discretion of the compensation committee .however , all employer contributions shall become 100% ( 100 % ) vested upon the occurrence of the participant 2019s disability , death or retirement or a change in control of the company .the benefits under this plan are unsecured .participants are generally eligible to receive payment of their vested benefit at the end of their elected deferral period or after termination of their employment with the company for any reason or at a later date to comply with the restrictions of section 409a .as of december 28 , 2008 , no employer contributions were made to the plan .in january 2008 , the company also established a rabbi trust for the benefit of its directors and executives under the plan .in accordance with fasb interpretation ( fin ) no .46 , consolidation of variable interest entities , an interpretation of arb no .51 , and eitf 97-14 , accounting for deferred compensation arrangements where amounts earned are held in a rabbi trust and invested , the company has included the assets of the rabbi trust in its consolidated balance sheet since the trust 2019s inception .as of december 28 , 2008 , the assets of the trust and liabilities of the company were $ 1.3 million .the assets and liabilities are classified as other assets and accrued liabilities , respectively , on the company 2019s balance sheet as of december 28 , 2008 .changes in the values of the assets held by the rabbi trust accrue to the company .14 .segment information , geographic data and significant customers during the first quarter of 2008 , the company reorganized its operating structure into a newly created life sciences business unit , which includes all products and services related to the research market , namely the beadarray , beadxpress and sequencing product lines .the company also created a diagnostics business unit to focus on the emerging opportunity in molecular diagnostics .for the year ended december 28 , 2008 , the company had limited activity related to the diagnostics business unit , and operating results were reported on an aggregate basis to the chief operating decision maker of the company , the chief executive officer .in accordance with sfas no .131 , disclosures about segments of an enterprise and related information , the company operated in one reportable segment for the year ended december 28 , 2008 .the company had revenue in the following regions for the years ended december 28 , 2008 , december 30 , 2007 and december 31 , 2006 ( in thousands ) : year ended december 28 , year ended december 30 , year ended december 31 .
[['', 'year ended december 28 2008', 'year ended december 30 2007', 'year ended december 31 2006'], ['united states', '$ 280064', '$ 207692', '$ 103043'], ['united kingdom', '67973', '34196', '22840'], ['other european countries', '127397', '75360', '32600'], ['asia-pacific', '72740', '35155', '15070'], ['other markets', '25051', '14396', '11033'], ['total', '$ 573225', '$ 366799', '$ 184586']]
net revenues are attributable to geographic areas based on the region of destination .illumina , inc .notes to consolidated financial statements 2014 ( continued ) .
|
what percentage of total revenue in 2008 came from the united kingdom region?
|
12%
|
{
"answer": "12%",
"decimal": 0.12,
"type": "percentage"
}
| |
j.p .morgan chase & co ./ 2003 annual report 65 the commercial specific loss component of the allowance was $ 917 million at december 31 , 2003 , a decrease of 43% ( 43 % ) from year-end 2002 .the decrease was attributable to the improve- ment in the credit quality of the commercial loan portfolio , as well as the reduction in the size of the portfolio .the commercial expected loss component of the allowance was $ 454 million at december 31 , 2003 , a decrease of 26% ( 26 % ) from year- end 2002 .the decrease reflected an improvement in the average quality of the loan portfolio , as well as the improving credit envi- ronment , which affected inputs to the expected loss model .the consumer expected loss component of the allowance was $ 2.3 billion at december 31 , 2003 , a decrease of 4% ( 4 % ) from year- end 2002 .although the consumer managed loan portfolio increased by 10% ( 10 % ) , the businesses that drove the increase , home finance and auto finance , have collateralized products with lower expected loss rates .the residual component of the allowance was $ 895 million at december 31 , 2003 .the residual component , which incorpo- rates management's judgment , addresses uncertainties that are not considered in the formula-based commercial specific and expected components of the allowance for credit losses .the $ 121 million increase addressed uncertainties in the eco- nomic environment and concentrations in the commercial loan portfolio that existed during the first half of 2003 .in the sec- ond half of the year , as commercial credit quality continued to improve and the commercial allowance declined further , the residual component was reduced as well .at december 31 , 2003 , the residual component represented approximately 20% ( 20 % ) of the total allowance for loan losses , within the firm 2019s target range of between 10% ( 10 % ) and 20% ( 20 % ) .the firm anticipates that if the current positive trend in economic conditions and credit quality continues , the commercial and residual components will continue to be reduced .lending-related commitments to provide for the risk of loss inherent in the credit-extension process , management also computes specific and expected loss components as well as a residual component for commercial lending 2013related commitments .this is computed using a methodology similar to that used for the commercial loan port- folio , modified for expected maturities and probabilities of drawdown .the allowance decreased by 11% ( 11 % ) to $ 324 million as of december 31 , 2003 , due to improvement in the criticized portion of the firm 2019s lending-related commitments .credit costs .
[['for the year ended december 31 ( in millions )', 'for the year ended december 31 commercial', 'for the year ended december 31 consumer', 'for the year ended december 31 residual', 'for the year ended december 31 total', 'for the year ended december 31 commercial', 'for the year ended december 31 consumer', 'residual', 'total'], ['provision for loan losses', '$ -30 ( 30 )', '$ 1491', '$ 118', '$ 1579', '$ 2371', '$ 1589', '$ 79', '$ 4039'], ['provision for lending-related commitments', '-47 ( 47 )', '2014', '8', '-39 ( 39 )', '309', '2014', '-17 ( 17 )', '292'], ['securitized credit losses', '2014', '1870', '2014', '1870', '2014', '1439', '2014', '1439'], ['total managed credit costs', '$ -77 ( 77 )', '$ 3361', '$ 126', '$ 3410', '$ 2680', '$ 3028', '$ 62', '$ 5770']]
.
|
what was the consumer expected loss allowance at 12/31/2002 , in billions?
|
2.4
|
{
"answer": "2.4",
"decimal": 2.4,
"type": "float"
}
| |
special purpose entity ( 201cspe 201d ) .the spe obtained a term loan and revolving loan commitment from a third party lender , secured by liens on the assets of the spe , to finance the purchase of the accounts receivable , which included a $ 275 million term loan and a $ 25 million revolving loan commitment .the revolving loan commitment may be increased by an additional $ 35 million as amounts are repaid under the term loan .quintilesims has guaranteed the performance of the obligations of existing and future subsidiaries that sell and service the accounts receivable under the receivables financing facility .the assets of the spe are not available to satisfy any of our obligations or any obligations of our subsidiaries .as of december 31 , 2016 , the full $ 25 million of revolving loan commitment was available under the receivables financing facility .we used the proceeds from the term loan under the receivables financing facility to repay in full the amount outstanding on the then outstanding revolving credit facility under its then outstanding senior secured credit agreement ( $ 150 million ) , to repay $ 25 million of the then outstanding term loan b-3 , to pay related fees and expenses and the remainder was used for general working capital purposes .restrictive covenants our debt agreements provide for certain covenants and events of default customary for similar instruments , including a covenant not to exceed a specified ratio of consolidated senior secured net indebtedness to consolidated ebitda , as defined in the senior secured credit facility and a covenant to maintain a specified minimum interest coverage ratio .if an event of default occurs under any of the company 2019s or the company 2019s subsidiaries 2019 financing arrangements , the creditors under such financing arrangements will be entitled to take various actions , including the acceleration of amounts due under such arrangements , and in the case of the lenders under the revolving credit facility and new term loans , other actions permitted to be taken by a secured creditor .our long-term debt arrangements contain usual and customary restrictive covenants that , among other things , place limitations on our ability to declare dividends .for additional information regarding these restrictive covenants , see part ii , item 5 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities 2014dividend policy 201d and note 11 to our audited consolidated financial statements included elsewhere in this annual report on form 10-k .at december 31 , 2016 , the company was in compliance with the financial covenants under the company 2019s financing arrangements .years ended december 31 , 2016 , 2015 and 2014 cash flow from operating activities .
[['( in millions )', 'year ended december 31 , 2016', 'year ended december 31 , 2015', 'year ended december 31 , 2014'], ['net cash provided by operating activities', '$ 860', '$ 476', '$ 433']]
2016 compared to 2015 cash provided by operating activities increased $ 384 million in 2016 as compared to 2015 .the increase in cash provided by operating activities reflects the increase in net income as adjusted for non-cash items necessary to reconcile net income to cash provided by operating activities .also contributing to the increase were lower payments for income taxes ( $ 15 million ) , and lower cash used in days sales outstanding ( 201cdso 201d ) and accounts payable and accrued expenses .the lower cash used in dso reflects a two-day increase in dso in 2016 compared to a seven-day increase in dso in 2015 .dso can shift significantly at each reporting period depending on the timing of cash receipts under contractual payment terms relative to the recognition of revenue over a project lifecycle. .
|
what is the percent increase in net cash provided by operating activities from 2014 to 2015?
|
9.93%
|
{
"answer": "9.93%",
"decimal": 0.0993,
"type": "percentage"
}
| |
note 18 2013 earnings per share ( eps ) basic eps is calculated by dividing net earnings attributable to allegion plc by the weighted-average number of ordinary shares outstanding for the applicable period .diluted eps is calculated after adjusting the denominator of the basic eps calculation for the effect of all potentially dilutive ordinary shares , which in the company 2019s case , includes shares issuable under share-based compensation plans .the following table summarizes the weighted-average number of ordinary shares outstanding for basic and diluted earnings per share calculations: .
[['in millions', '2018', '2017', '2016'], ['weighted-average number of basic shares', '95.0', '95.1', '95.8'], ['shares issuable under incentive stock plans', '0.7', '0.9', '1.1'], ['weighted-average number of diluted shares', '95.7', '96.0', '96.9']]
at december 31 , 2018 , 0.1 million stock options were excluded from the computation of weighted-average diluted shares outstanding because the effect of including these shares would have been anti-dilutive .note 19 2013 net revenues net revenues are recognized based on the satisfaction of performance obligations under the terms of a contract .a performance obligation is a promise in a contract to transfer control of a distinct product or to provide a service , or a bundle of products or services , to a customer , and is the unit of account under asc 606 .the company has two principal revenue streams , tangible product sales and services .approximately 99% ( 99 % ) of consolidated net revenues involve contracts with a single performance obligation , which is the transfer of control of a product or bundle of products to a customer .transfer of control typically occurs when goods are shipped from the company's facilities or at other predetermined control transfer points ( for instance , destination terms ) .net revenues are measured as the amount of consideration expected to be received in exchange for transferring control of the products and takes into account variable consideration , such as sales incentive programs including discounts and volume rebates .the existence of these programs does not preclude revenue recognition but does require the company's best estimate of the variable consideration to be made based on expected activity , as these items are reserved for as a deduction to net revenues over time based on the company's historical rates of providing these incentives and annual forecasted sales volumes .the company also offers a standard warranty with most product sales and the value of such warranty is included in the contractual price .the corresponding cost of the warranty obligation is accrued as a liability ( see note 20 ) .the company's remaining net revenues involve services , including installation and consulting .unlike the single performance obligation to ship a product or bundle of products , the service revenue stream delays revenue recognition until the service performance obligations are satisfied .in some instances , customer acceptance provisions are included in sales arrangements to give the buyer the ability to ensure the service meets the criteria established in the order .in these instances , revenue recognition is deferred until the performance obligations are satisfied , which could include acceptance terms specified in the arrangement being fulfilled through customer acceptance or a demonstration that established criteria have been satisfied .during the year ended december 31 , 2018 , no adjustments related to performance obligations satisfied in previous periods were recorded .upon adoption of asc 606 , the company used the practical expedients to omit the disclosure of remaining performance obligations for contracts with an original expected duration of one year or less and for contracts where the company has the right to invoice for performance completed to date .the transaction price is not adjusted for the effects of a significant financing component , as the time period between control transfer of goods and services is less than one year .sales , value-added and other similar taxes collected by the company are excluded from net revenues .the company has also elected to account for shipping and handling activities that occur after control of the related goods transfers as fulfillment activities instead of performance obligations .these activities are included in cost of goods sold in the consolidated statements of comprehensive income .the company 2019s payment terms are generally consistent with the industries in which their businesses operate .the following table shows the company's net revenues for the years ended december 31 , based on the two principal revenue streams , tangible product sales and services , disaggregated by business segment .net revenues are shown by tangible product sales and services , as contract terms , conditions and economic factors affecting the nature , amount , timing and uncertainty around revenue recognition and cash flows are substantially similar within each of the two principal revenue streams: .
|
considering the years 2017-2018 , what is the decrease observed in the weighted-average number of diluted shares?
|
0.3125%
|
{
"answer": "0.3125%",
"decimal": 0.003125,
"type": "percentage"
}
|
it is the final value ( 95.7 ) minus the initial value ( 96 ) , then divided by the initial one and turned into a percentage to represent the decrease .
|
illumina , inc .notes to consolidated financial statements 2014 ( continued ) advertising costs the company expenses advertising costs as incurred .advertising costs were approximately $ 440000 for 2003 , $ 267000 for 2002 and $ 57000 for 2001 .income taxes a deferred income tax asset or liability is computed for the expected future impact of differences between the financial reporting and tax bases of assets and liabilities , as well as the expected future tax benefit to be derived from tax loss and credit carryforwards .deferred income tax expense is generally the net change during the year in the deferred income tax asset or liability .valuation allowances are established when realizability of deferred tax assets is uncertain .the effect of tax rate changes is reflected in tax expense during the period in which such changes are enacted .foreign currency translation the functional currencies of the company 2019s wholly owned subsidiaries are their respective local currencies .accordingly , all balance sheet accounts of these operations are translated to u.s .dollars using the exchange rates in effect at the balance sheet date , and revenues and expenses are translated using the average exchange rates in effect during the period .the gains and losses from foreign currency translation of these subsidiaries 2019 financial statements are recorded directly as a separate component of stockholders 2019 equity under the caption 2018 2018accumulated other comprehensive income . 2019 2019 stock-based compensation at december 28 , 2003 , the company has three stock-based employee and non-employee director compensation plans , which are described more fully in note 5 .as permitted by sfas no .123 , accounting for stock-based compensation , the company accounts for common stock options granted , and restricted stock sold , to employees , founders and directors using the intrinsic value method and , thus , recognizes no compensation expense for options granted , or restricted stock sold , with exercise prices equal to or greater than the fair value of the company 2019s common stock on the date of the grant .the company has recorded deferred stock compensation related to certain stock options , and restricted stock , which were granted prior to the company 2019s initial public offering with exercise prices below estimated fair value ( see note 5 ) , which is being amortized on an accelerated amortiza- tion methodology in accordance with financial accounting standards board interpretation number ( 2018 2018fin 2019 2019 ) 28 .pro forma information regarding net loss is required by sfas no .123 and has been determined as if the company had accounted for its employee stock options and employee stock purchases under the fair value method of that statement .the fair value for these options was estimated at the dates of grant using the fair value option pricing model ( black scholes ) with the following weighted-average assumptions for 2003 , 2002 and 2001 : year ended year ended year ended december 28 , december 29 , december 30 , 2003 2002 2001 weighted average risk-free interest rate******* 3.03% ( 3.03 % ) 3.73% ( 3.73 % ) 4.65% ( 4.65 % ) expected dividend yield********************* 0% ( 0 % ) 0% ( 0 % ) 0% ( 0 % ) weighted average volatility ****************** 103% ( 103 % ) 104% ( 104 % ) 119% ( 119 % ) estimated life ( in years ) ********************** 5 5 5 .
[['', 'year ended december 28 2003', 'year ended december 29 2002', 'year ended december 30 2001'], ['weighted average risk-free interest rate', '3.03% ( 3.03 % )', '3.73% ( 3.73 % )', '4.65% ( 4.65 % )'], ['expected dividend yield', '0% ( 0 % )', '0% ( 0 % )', '0% ( 0 % )'], ['weighted average volatility', '103% ( 103 % )', '104% ( 104 % )', '119% ( 119 % )'], ['estimated life ( in years )', '5', '5', '5'], ['weighted average fair value of options granted', '$ 3.31', '$ 4.39', '$ 7.51']]
.
|
what was the percent of the decline in the weighted average risk-free interest rate from 2002 to 2003
|
-18.8%
|
{
"answer": "-18.8%",
"decimal": -0.188,
"type": "percentage"
}
| |
united parcel service , inc .and subsidiaries management's discussion and analysis of financial condition and results of operations liquidity and capital resources operating activities the following is a summary of the significant sources ( uses ) of cash from operating activities ( amounts in millions ) : .
[['', '2013', '2012', '2011'], ['net income', '$ 4372', '$ 807', '$ 3804'], ['non-cash operating activities ( a )', '3318', '7313', '4578'], ['pension and postretirement plan contributions ( ups-sponsored plans )', '-212 ( 212 )', '-917 ( 917 )', '-1436 ( 1436 )'], ['income tax receivables and payables', '-155 ( 155 )', '280', '236'], ['changes in working capital and other noncurrent assets and liabilities', '121', '-148 ( 148 )', '-12 ( 12 )'], ['other operating activities', '-140 ( 140 )', '-119 ( 119 )', '-97 ( 97 )'], ['net cash from operating activities', '$ 7304', '$ 7216', '$ 7073']]
( a ) represents depreciation and amortization , gains and losses on derivative and foreign exchange transactions , deferred income taxes , provisions for uncollectible accounts , pension and postretirement benefit expense , stock compensation expense , impairment charges and other non-cash items .cash from operating activities remained strong throughout the 2011 to 2013 time period .operating cash flow was favorably impacted in 2013 , compared with 2012 , by lower contributions into our defined benefit pension and postretirement benefit plans ; however , this was partially offset by certain tnt express transaction-related charges , as well as changes in income tax receivables and payables .we paid a termination fee to tnt express of 20ac200 million ( $ 268 million ) under the agreement to terminate the merger protocol in the first quarter of 2013 .additionally , the cash payments for income taxes increased in 2013 compared with 2012 , and were impacted by the timing of current tax deductions .except for discretionary or accelerated fundings of our plans , contributions to our company-sponsored pension plans have largely varied based on whether any minimum funding requirements are present for individual pension plans .2022 in 2013 , we did not have any required , nor make any discretionary , contributions to our primary company-sponsored pension plans in the u.s .2022 in 2012 , we made a $ 355 million required contribution to the ups ibt pension plan .2022 in 2011 , we made a $ 1.2 billion contribution to the ups ibt pension plan , which satisfied our 2011 contribution requirements and also approximately $ 440 million in contributions that would not have been required until after 2011 .2022 the remaining contributions in the 2011 through 2013 period were largely due to contributions to our international pension plans and u.s .postretirement medical benefit plans .as discussed further in the 201ccontractual commitments 201d section , we have minimum funding requirements in the next several years , primarily related to the ups ibt pension , ups retirement and ups pension plans .as of december 31 , 2013 , the total of our worldwide holdings of cash and cash equivalents was $ 4.665 billion .approximately 45%-55% ( 45%-55 % ) of cash and cash equivalents was held by foreign subsidiaries throughout the year .the amount of cash held by our u.s .and foreign subsidiaries fluctuates throughout the year due to a variety of factors , including the timing of cash receipts and disbursements in the normal course of business .cash provided by operating activities in the united states continues to be our primary source of funds to finance domestic operating needs , capital expenditures , share repurchases and dividend payments to shareowners .to the extent that such amounts represent previously untaxed earnings , the cash held by foreign subsidiaries would be subject to tax if such amounts were repatriated in the form of dividends ; however , not all international cash balances would have to be repatriated in the form of a dividend if returned to the u.s .when amounts earned by foreign subsidiaries are expected to be indefinitely reinvested , no accrual for taxes is provided. .
|
what was the percentage change in net cash from operating activities from 2011 to 2012?
|
2%
|
{
"answer": "2%",
"decimal": 0.02,
"type": "percentage"
}
| |
table of contents concentrations in the available sources of supply of materials and product although most components essential to the company 2019s business are generally available from multiple sources , a number of components are currently obtained from single or limited sources .in addition , the company competes for various components with other participants in the markets for mobile communication and media devices and personal computers .therefore , many components used by the company , including those that are available from multiple sources , are at times subject to industry-wide shortage and significant pricing fluctuations that could materially adversely affect the company 2019s financial condition and operating results .the company uses some custom components that are not commonly used by its competitors , and new products introduced by the company often utilize custom components available from only one source .when a component or product uses new technologies , initial capacity constraints may exist until the suppliers 2019 yields have matured or manufacturing capacity has increased .if the company 2019s supply of components for a new or existing product were delayed or constrained , or if an outsourcing partner delayed shipments of completed products to the company , the company 2019s financial condition and operating results could be materially adversely affected .the company 2019s business and financial performance could also be materially adversely affected depending on the time required to obtain sufficient quantities from the original source , or to identify and obtain sufficient quantities from an alternative source .continued availability of these components at acceptable prices , or at all , may be affected if those suppliers concentrated on the production of common components instead of components customized to meet the company 2019s requirements .the company has entered into agreements for the supply of many components ; however , there can be no guarantee that the company will be able to extend or renew these agreements on similar terms , or at all .therefore , the company remains subject to significant risks of supply shortages and price increases that could materially adversely affect its financial condition and operating results .substantially all of the company 2019s hardware products are manufactured by outsourcing partners that are located primarily in asia .a significant concentration of this manufacturing is currently performed by a small number of outsourcing partners , often in single locations .certain of these outsourcing partners are the sole-sourced suppliers of components and manufacturers for many of the company 2019s products .although the company works closely with its outsourcing partners on manufacturing schedules , the company 2019s operating results could be adversely affected if its outsourcing partners were unable to meet their production commitments .the company 2019s purchase commitments typically cover its requirements for periods up to 150 days .other off-balance sheet commitments operating leases the company leases various equipment and facilities , including retail space , under noncancelable operating lease arrangements .the company does not currently utilize any other off-balance sheet financing arrangements .the major facility leases are typically for terms not exceeding 10 years and generally contain multi-year renewal options .leases for retail space are for terms ranging from five to 20 years , the majority of which are for 10 years , and often contain multi-year renewal options .as of september 27 , 2014 , the company 2019s total future minimum lease payments under noncancelable operating leases were $ 5.0 billion , of which $ 3.6 billion related to leases for retail space .rent expense under all operating leases , including both cancelable and noncancelable leases , was $ 717 million , $ 645 million and $ 488 million in 2014 , 2013 and 2012 , respectively .future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 27 , 2014 , are as follows ( in millions ) : apple inc .| 2014 form 10-k | 75 .
[['2015', '$ 662'], ['2016', '676'], ['2017', '645'], ['2018', '593'], ['2019', '534'], ['thereafter', '1877'], ['total', '$ 4987']]
.
|
what percentage of future minimum lease payments under noncancelable operating leases are due after 2019?
|
38%
|
{
"answer": "38%",
"decimal": 0.38,
"type": "percentage"
}
| |
our initial estimate of fraud losses , fines and other charges on our understanding of the rules and operating regulations published by the networks and preliminary communications with the networks .we have now reached resolution with and made payments to the networks , resulting in charges that were less than our initial estimates .the primary difference between our initial estimates and the final charges relates to lower fraud related costs attributed to this event than previously expected .the following table reflects the activity in our accrual for fraud losses , fines and other charges for the twelve months ended may 31 , 2013 ( in thousands ) : .
[['balance at may 31 2012', '$ 67436'], ['adjustments', '-31781 ( 31781 )'], ['subtotal', '35655'], ['payments', '-35655 ( 35655 )'], ['balance at may 31 2013', '$ 2014']]
we were insured under policies that provided coverage of certain costs associated with this event .the policies provided a total of $ 30.0 million in policy limits and contained various sub-limits of liability and other terms , conditions and limitations , including a $ 1.0 million deductible per claim .as of fiscal year 2013 , we received assessments from certain networks and submitted additional claims to the insurers and recorded $ 20.0 million in additional insurance recoveries based on our negotiations with our insurers .we will record receivables for any additional recoveries in the periods in which we determine such recovery is probable and the amount can be reasonably estimated .a class action arising out of the processing system intrusion was filed against us on april 4 , 2012 by natalie willingham ( individually and on behalf of a putative nationwide class ) ( the 201cplaintiff 201d ) .specifically , ms .willingham alleged that we failed to maintain reasonable and adequate procedures to protect her personally identifiable information ( 201cpii 201d ) which she claims resulted in two fraudulent charges on her credit card in march 2012 .further , ms .willingham asserted that we failed to timely notify the public of the data breach .based on these allegations , ms .willingham asserted claims for negligence , violation of the federal stored communications act , willful violation of the fair credit reporting act , negligent violation of the fair credit reporting act , violation of georgia 2019s unfair and deceptive trade practices act , negligence per se , breach of third-party beneficiary contract , and breach of implied contract .ms .willingham sought an unspecified amount of damages and injunctive relief .the lawsuit was filed in the united states district court for the northern district of georgia .on may 14 , 2012 , we filed a motion to dismiss .on july 11 , 2012 , plaintiff filed a motion for leave to amend her complaint , and on july 16 , 2012 , the court granted that motion .she then filed an amended complaint on july 16 , 2012 .the amended complaint did not add any new causes of action .instead , it added two new named plaintiffs ( nadine and robert hielscher ) ( together with plaintiff , the 201cplaintiffs 201d ) and dropped plaintiff 2019s claim for negligence per se .on august 16 , 2012 , we filed a motion to dismiss the plaintiffs 2019 amended complaint .the plaintiffs filed their response in opposition to our motion to dismiss on october 5 , 2012 , and we subsequently filed our reply brief on october 22 , 2012 .the magistrate judge issued a report and recommendation recommending dismissal of all of plaintiffs 2019 claims with prejudice .the plaintiffs subsequently agreed to voluntarily dismiss the lawsuit with prejudice , with each party bearing its own fees and costs .this was the only consideration exchanged by the parties in connection with plaintiffs 2019 voluntary dismissal with prejudice of the lawsuit .the lawsuit was dismissed with prejudice on march 6 , 2013 .note 3 2014settlement processing assets and obligations we are designated as a merchant service provider by mastercard and an independent sales organization by visa .these designations are dependent upon member clearing banks ( 201cmember 201d ) sponsoring us and our adherence to the standards of the networks .we have primary financial institution sponsors in the various markets where we facilitate payment transactions with whom we have sponsorship or depository and clearing agreements .these agreements allow us to route transactions under the member banks 2019 control and identification numbers to clear credit card transactions through mastercard and visa .in certain markets , we are members in various payment networks , allowing us to process and fund transactions without third-party sponsorship. .
|
what percent of the balance was used on payments .
|
52.9%
|
{
"answer": "52.9%",
"decimal": 0.529,
"type": "percentage"
}
|
to figure out the percentage payments are , one must divide payments by the balance .
|
earnings were remitted as dividends after payment of all deferred taxes .as more than 90% ( 90 % ) of the undistributed earnings are in countries with a statutory tax rate of 24% ( 24 % ) or higher , we do not generate a disproportionate amount of taxable income in countries with very low tax rates .a reconciliation of the beginning and ending amount of the unrecognized tax benefits is as follows: .
[['unrecognized tax benefits', '2013', '2012', '2011'], ['balance at beginning of year', '$ 110.8', '$ 126.4', '$ 197.8'], ['additions for tax positions of the current year', '12.7', '44.5', '16.3'], ['additions for tax positions of prior years', '9.0', '2.3', '5.7'], ['reductions for tax positions of prior years', '-.5 ( .5 )', '-46.9 ( 46.9 )', '-72.4 ( 72.4 )'], ['settlements', '-1.4 ( 1.4 )', '-11.0 ( 11.0 )', '-15.6 ( 15.6 )'], ['statute of limitations expiration', '-8.0 ( 8.0 )', '-3.7 ( 3.7 )', '-4.8 ( 4.8 )'], ['foreign currency translation', '1.7', '-.8 ( .8 )', '-.6 ( .6 )'], ['balance at end of year', '$ 124.3', '$ 110.8', '$ 126.4']]
at 30 september 2013 and 2012 , we had $ 124.3 and $ 110.8 of unrecognized tax benefits , excluding interest and penalties , of which $ 63.1 and $ 56.9 , respectively , would impact the effective tax rate if recognized .interest and penalties related to unrecognized tax benefits are recorded as a component of income tax expense and totaled $ 2.4 in 2013 , $ ( 26.1 ) in 2012 , and $ ( 2.4 ) in 2011 .our accrued balance for interest and penalties was $ 8.1 and $ 7.2 in 2013 and 2012 , respectively .we were challenged by the spanish tax authorities over income tax deductions taken by certain of our spanish subsidiaries during fiscal years 2005 20132011 .in november 2011 , we reached a settlement with the spanish tax authorities for 20ac41.3 million ( $ 56 ) in resolution of all tax issues under examination .this settlement increased our income tax expense for the fiscal year ended 30 september 2012 by $ 43.8 ( $ .20 per share ) and had a 3.3% ( 3.3 % ) impact on our effective tax rate .as a result of this settlement , we recorded a reduction in unrecognized tax benefits of $ 6.4 for tax positions taken in prior years and $ 11.0 for settlements .on 25 january 2012 , the spanish supreme court released its decision in favor of our spanish subsidiary related to certain tax transactions for years 1991 and 1992 , a period before we controlled this subsidiary .as a result , in the second quarter of 2012 , we recorded a reduction in income tax expense of $ 58.3 ( $ .27 per share ) , resulting in a 4.4% ( 4.4 % ) reduction in our effective tax rate for the fiscal year ended 30 september 2012 .as a result of this ruling , we recorded a reduction in unrecognized tax benefits of $ 38.3 for tax positions taken in prior years .during the third quarter of 2012 , our unrecognized tax benefits increased $ 33.3 as a result of certain tax positions taken in conjunction with the disposition of our homecare business .when resolved , these benefits will be recognized in 201cincome from discontinued operations , net of tax 201d on our consolidated income statements and will not impact our effective tax rate .for additional information , see note 3 , discontinued operations .in the third quarter of 2011 , a u.s .internal revenue service audit over tax years 2007 and 2008 was completed , resulting in a decrease in unrecognized tax benefits of $ 36.0 and a favorable impact to earnings of $ 23.9 .this included a tax benefit of $ 8.9 ( $ .04 per share ) recognized in income from discontinued operations for fiscal year 2011 , as it relates to the previously divested u.s .healthcare business .we are also currently under examination in a number of tax jurisdictions , some of which may be resolved in the next twelve months .as a result , it is reasonably possible that a change in the unrecognized tax benefits may occur during the next twelve months .however , quantification of an estimated range cannot be made at this time. .
|
considering the years 2012 and 2013 , what is the increase observed in the balance at the end of the year?
|
12.18%
|
{
"answer": "12.18%",
"decimal": 0.12179999999999999,
"type": "percentage"
}
|
is the balance of 2013 divided by the 2012's then turned into a percentage .
|
investment policy , which is described more fully in note 15 employee benefit plans in the notes to consolidated financial statements in item 8 of this report .we calculate the expense associated with the pension plan and the assumptions and methods that we use include a policy of reflecting trust assets at their fair market value .on an annual basis , we review the actuarial assumptions related to the pension plan , including the discount rate , the rate of compensation increase and the expected return on plan assets .the discount rate and compensation increase assumptions do not significantly affect pension expense .however , the expected long-term return on assets assumption does significantly affect pension expense .our expected long- term return on plan assets for determining net periodic pension expense has been 8.25% ( 8.25 % ) for the past three years .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 allocation strategy currently in place among those classes .while this analysis gives appropriate consideration to recent asset performance and historical returns , the assumption represents a long-term prospective return .we review this assumption at each measurement date and adjust it if warranted .for purposes of setting and reviewing this assumption , 201clong- term 201d refers to the period over which the plan 2019s projected benefit obligation will be disbursed .while year-to-year annual returns can vary significantly ( rates of return for the reporting years of 2009 , 2008 , and 2007 were +20.61% ( +20.61 % ) , -32.91% ( -32.91 % ) , and +7.57% ( +7.57 % ) , respectively ) , the assumption represents our estimate of long-term average prospective returns .our selection process references certain historical data and the current environment , but primarily utilizes qualitative judgment regarding future return expectations .recent annual returns may differ but , recognizing the volatility and unpredictability of investment returns , we generally do not change the assumption unless we modify our investment strategy or identify events that would alter our expectations of future returns .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 us equity securities have returned approximately 10% ( 10 % ) over long periods of time , while us debt securities have returned approximately 6% ( 6 % ) annually over long periods .application of these historical returns to the plan 2019s allocation of equities and bonds produces a result between 8% ( 8 % ) and 8.5% ( 8.5 % ) 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 .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 , and in many cases low returns in recent time periods are followed by higher returns in future periods ( and vice versa ) .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 other observers .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 .the expected long-term return on plan assets for determining net periodic pension cost for 2009 was 8.25% ( 8.25 % ) , unchanged from 2008 .during 2010 , we intend to decrease the midpoint of the plan 2019s target allocation range for equities by approximately five percentage points .as a result of this change and taking into account all other factors described above , pnc will change the expected long-term return on plan assets to 8.00% ( 8.00 % ) for determining net periodic pension cost for 2010 .under current accounting rules , the difference between expected long-term returns and actual returns is accumulated and amortized to pension expense over future periods .each one percentage point difference in actual return compared with our expected return causes expense in subsequent years to change by up to $ 8 million as the impact is amortized into results of operations .the table below reflects the estimated effects on pension expense of certain changes in annual assumptions , using 2010 estimated expense as a baseline .change in assumption ( a ) estimated increase to 2010 pension expense ( in millions ) .
[['change in assumption ( a )', 'estimatedincrease to 2010pensionexpense ( inmillions )'], ['.5% ( .5 % ) decrease in discount rate', '$ 10'], ['.5% ( .5 % ) decrease in expected long-term return on assets', '$ 18'], ['.5% ( .5 % ) increase in compensation rate', '$ 3']]
( a ) the impact is the effect of changing the specified assumption while holding all other assumptions constant .we currently estimate a pretax pension expense of $ 41 million in 2010 compared with pretax expense of $ 117 million in 2009 .this year-over-year reduction was primarily due to the amortization impact of the favorable 2009 investment returns as compared with the expected long-term return assumption .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 permitted contributions in future years .also , current law , including the provisions of the pension protection act of 2006 , sets limits as to both minimum and maximum contributions to the plan .we expect that the minimum required contributions under the law will be zero for 2010 .we maintain other defined benefit plans that have a less significant effect on financial results , including various .
|
the decrease in pretax pension expenses was what percentage of a decrease?
|
64.9%
|
{
"answer": "64.9%",
"decimal": 0.649,
"type": "percentage"
}
| |
30 of 93 liquidity and capital resources the following table presents selected financial information and statistics for each of the last three fiscal years ( dollars in millions ) : .
[['', '2003', '2002', '2001'], ['cash cash equivalents and short-term investments', '$ 4566', '$ 4337', '$ 4336'], ['accounts receivable net', '$ 766', '$ 565', '$ 466'], ['inventory', '$ 56', '$ 45', '$ 11'], ['working capital', '$ 3530', '$ 3730', '$ 3625'], ['days sales in accounts receivable ( dso ) ( a )', '41', '36', '29'], ['days of supply in inventory ( b )', '4', '4', '1'], ['days payables outstanding ( dpo ) ( c )', '82', '77', '73'], ['annual operating cash flow', '$ 289', '$ 89', '$ 185']]
( a ) dso is based on ending net trade receivables and most recent quarterly net sales for each period .( b ) days supply of inventory is based on ending inventory and most recent quarterly cost of sales for each period .( c ) dpo is based on ending accounts payable and most recent quarterly cost of sales adjusted for the change in inventory .as of september 27 , 2003 , the company 2019s cash , cash equivalents , and short-term investments portfolio totaled $ 4.566 billion , an increase of $ 229 million from the end of fiscal 2002 .the company 2019s short-term investment portfolio consists primarily of investments in u.s .treasury and agency securities , u.s .corporate securities , and foreign securities .foreign securities consist primarily of foreign commercial paper , certificates of deposit and time deposits with foreign institutions , most of which are denominated in u.s .dollars .the company 2019s investments are generally liquid and investment grade .as a result of declining investment yields on the company 2019s cash equivalents and short-term investments resulting from substantially lower market interest rates during 2003 , the company has elected to reduce the average maturity of its portfolio to maintain liquidity for future investment opportunities when market interest rates increase .accordingly , during 2003 the company increased its holdings in short-term investment grade instruments , both in u.s .corporate and foreign securities , that are classified as cash equivalents and has reduced its holdings in longer-term u.s .corporate securities classified as short-term investments .although the company 2019s cash , cash equivalents , and short-term investments increased in 2003 , the company 2019s working capital at september 27 , 2003 decreased by $ 200 million as compared to the end of fiscal 2002 due primarily to the current year reclassification of the company 2019s long-term debt as a current obligation resulting from its scheduled maturity in february 2004 .the primary sources of total cash and cash equivalents in fiscal 2003 were $ 289 million in cash generated by operating activities and $ 53 million in proceeds from the issuance of common stock , partially offset by $ 164 million utilized for capital expenditures and $ 26 million for the repurchase of common stock .the company believes its existing balances of cash , cash equivalents , and short-term investments will be sufficient to satisfy its working capital needs , capital expenditures , debt obligations , stock repurchase activity , outstanding commitments , and other liquidity requirements associated with its existing operations over the next 12 months .the company currently has debt outstanding in the form of $ 300 million of aggregate principal amount 6.5% ( 6.5 % ) unsecured notes that were originally issued in 1994 .the notes , which pay interest semiannually , were sold at 99.925% ( 99.925 % ) of par , for an effective yield to maturity of 6.51% ( 6.51 % ) .the notes , along with approximately $ 4 million of unamortized deferred gains on closed interest rate swaps , are due in february 2004 and therefore have been classified as current debt as of september 27 , 2003 .the company currently anticipates utilizing its existing cash balances to settle these notes when due .capital expenditures the company 2019s total capital expenditures were $ 164 million during fiscal 2003 , $ 92 million of which were for retail store facilities and equipment related to the company 2019s retail segment and $ 72 million of which were primarily for corporate infrastructure , including information systems enhancements and operating facilities enhancements and expansions .the company currently anticipates it will utilize approximately $ 160 million for capital expenditures during 2004 , approximately $ 85 million of which is expected to be utilized for further expansion of the company 2019s retail segment and the remainder utilized to support normal replacement of existing capital assets and enhancements to general information technology infrastructure .stock repurchase plan in july 1999 , the company's board of directors authorized a plan for the company to repurchase up to $ 500 million of its common stock .this repurchase plan does not obligate the company to acquire any specific number of shares or acquire shares over any specified period of time. .
|
what was the largest annual operating cash flow , in millions?
|
289
|
{
"answer": "289",
"decimal": 289,
"type": "float"
}
| |
interest expense related to capital lease obligations was $ 1.6 million during the year ended december 31 , 2015 , and $ 1.6 million during both the years ended december 31 , 2014 and 2013 .purchase commitments in the table below , we set forth our enforceable and legally binding purchase obligations as of december 31 , 2015 .some of the amounts are based on management 2019s estimates and assumptions about these obligations , including their duration , the possibility of renewal , anticipated actions by third parties , and other factors .because these estimates and assumptions are necessarily subjective , our actual payments may vary from those reflected in the table .purchase orders made in the ordinary course of business are excluded below .any amounts for which we are liable under purchase orders are reflected on the consolidated balance sheets as accounts payable and accrued liabilities .these obligations relate to various purchase agreements for items such as minimum amounts of fiber and energy purchases over periods ranging from one year to 20 years .total purchase commitments were as follows ( dollars in millions ) : .
[['2016', '$ 95.3'], ['2017', '60.3'], ['2018', '28.0'], ['2019', '28.0'], ['2020', '23.4'], ['thereafter', '77.0'], ['total', '$ 312.0']]
the company purchased a total of $ 299.6 million , $ 265.9 million , and $ 61.7 million during the years ended december 31 , 2015 , 2014 , and 2013 , respectively , under these purchase agreements .the increase in purchases the increase in purchases under these agreements in 2014 , compared with 2013 , relates to the acquisition of boise in fourth quarter 2013 .environmental liabilities the potential costs for various environmental matters are uncertain due to such factors as the unknown magnitude of possible cleanup costs , the complexity and evolving nature of governmental laws and regulations and their interpretations , and the timing , varying costs and effectiveness of alternative cleanup technologies .from 2006 through 2015 , there were no significant environmental remediation costs at pca 2019s mills and corrugated plants .at december 31 , 2015 , the company had $ 24.3 million of environmental-related reserves recorded on its consolidated balance sheet .of the $ 24.3 million , approximately $ 15.8 million related to environmental-related asset retirement obligations discussed in note 12 , asset retirement obligations , and $ 8.5 million related to our estimate of other environmental contingencies .the company recorded $ 7.9 million in 201caccrued liabilities 201d and $ 16.4 million in 201cother long-term liabilities 201d on the consolidated balance sheet .liabilities recorded for environmental contingencies are estimates of the probable costs based upon available information and assumptions .because of these uncertainties , pca 2019s estimates may change .the company believes that it is not reasonably possible that future environmental expenditures for remediation costs and asset retirement obligations above the $ 24.3 million accrued as of december 31 , 2015 , will have a material impact on its financial condition , results of operations , or cash flows .guarantees and indemnifications we provide guarantees , indemnifications , and other assurances to third parties in the normal course of our business .these include tort indemnifications , environmental assurances , and representations and warranties in commercial agreements .at december 31 , 2015 , we are not aware of any material liabilities arising from any guarantee , indemnification , or financial assurance we have provided .if we determined such a liability was probable and subject to reasonable determination , we would accrue for it at that time. .
|
what percentage of total purchase commitments are due after 2020?
|
25%
|
{
"answer": "25%",
"decimal": 0.25,
"type": "percentage"
}
| |
valuation techniques 2013 cash equivalents are mostly comprised of short-term money-market instruments and are valued at cost , which approximates fair value .u.s .equity securities and international equity securities categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year .for u.s .equity securities and international equity securities not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker , or investment manager .these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor or categorized as level 3 if the custodian obtains uncorroborated quotes from a broker or investment manager .commingled equity funds are investment vehicles valued using the net asset value ( nav ) provided by the fund managers .the nav is the total value of the fund divided by the number of shares outstanding .commingled equity funds are categorized as level 1 if traded at their nav on a nationally recognized securities exchange or categorized as level 2 if the nav is corroborated by observable market data ( e.g. , purchases or sales activity ) and we are able to redeem our investment in the near-term .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 .private equity funds , real estate funds , and hedge funds are valued using the nav based on valuation models of underlying securities which generally include significant unobservable inputs that cannot be corroborated using verifiable observable market data .valuations for private equity funds and real estate funds are determined by the general partners .depending on the nature of the assets , the general partners may use various valuation methodologies , including the income and market approaches in their models .the market approach consists of analyzing market transactions for comparable assets while the income approach uses earnings or the net present value of estimated future cash flows adjusted for liquidity and other risk factors .hedge funds are valued by independent administrators using various pricing sources and models based on the nature of the securities .private equity funds , real estate funds , and hedge funds are generally categorized as level 3 as we cannot fully redeem our investment in the near-term .commodities are traded on an active commodity exchange and are valued at their closing prices on the last trading day of the year .contributions and expected benefit payments we generally determine funding requirements for our defined benefit pension plans in a manner consistent with cas and internal revenue code rules .in 2013 , we made contributions of $ 2.25 billion related to our qualified defined benefit pension plans .we currently plan to make contributions of approximately $ 1.0 billion related to the qualified defined benefit pension plans in 2014 .in 2013 , we made contributions of $ 98 million to our retiree medical and life insurance plans .we do not expect to make contributions related to the retiree medical and life insurance plans in 2014 as a result of our 2013 contributions .the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2013 ( in millions ) : .
[['', '2014', '2015', '2016', '2017', '2018', '2019 - 2023'], ['qualified defined benefit pension plans', '$ 1960', '$ 2030', '$ 2110', '$ 2200', '$ 2300', '$ 13240'], ['retiree medical and life insurance plans', '200', '210', '210', '220', '220', '1070']]
defined contribution plans we maintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees .under the provisions of our 401 ( k ) plans , we match most employees 2019 eligible contributions at rates specified in the plan documents .our contributions were $ 383 million in 2013 , $ 380 million in 2012 , and $ 378 million in 2011 , the majority of which were funded in our common stock .our defined contribution plans held approximately 44.7 million and 48.6 million shares of our common stock as of december 31 , 2013 and 2012. .
|
what is the change in estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2013 , from 2014 to 2015 in millions?
|
70
|
{
"answer": "70",
"decimal": 70,
"type": "float"
}
| |
notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have guaranteed certain obligations of our subsidiaries relating principally to operating leases and uncommitted lines of credit of certain subsidiaries .as of december 31 , 2018 and 2017 , the amount of parent company guarantees on lease obligations was $ 824.5 and $ 829.2 , respectively , the amount of parent company guarantees primarily relating to uncommitted lines of credit was $ 349.1 and $ 308.8 , respectively , and the amount of parent company guarantees related to daylight overdrafts , primarily utilized to manage intra-day overdrafts due to timing of transactions under cash pooling arrangements without resulting in incremental borrowings , was $ 207.8 and $ 182.2 , respectively .in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee .as of december 31 , 2018 , there were no material assets pledged as security for such parent company guarantees .contingent acquisition obligations the following table details the estimated future contingent acquisition obligations payable in cash as of december 31 .
[['', '2019', '2020', '2021', '2022', '2023', 'thereafter', 'total'], ['deferred acquisition payments', '$ 65.7', '$ 20.0', '$ 23.6', '$ 4.7', '$ 10.2', '$ 2.7', '$ 126.9'], ['redeemable noncontrolling interests and call options with affiliates1', '30.1', '30.6', '42.9', '5.7', '3.5', '2.5', '115.3'], ['total contingent acquisition payments', '$ 95.8', '$ 50.6', '$ 66.5', '$ 10.4', '$ 13.7', '$ 5.2', '$ 242.2']]
1 we have entered into certain acquisitions that contain both redeemable noncontrolling interests and call options with similar terms and conditions .the estimated amounts listed would be paid in the event of exercise at the earliest exercise date .we have certain redeemable noncontrolling interests that are exercisable at the discretion of the noncontrolling equity owners as of december 31 , 2018 .these estimated payments of $ 24.9 are included within the total payments expected to be made in 2019 , and will continue to be carried forward into 2020 or beyond until exercised or expired .redeemable noncontrolling interests are included in the table at current exercise price payable in cash , not at applicable redemption value , in accordance with the authoritative guidance for classification and measurement of redeemable securities .the majority of these payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revision in accordance with the terms of the respective agreements .see note 5 for further information relating to the payment structure of our acquisitions .legal matters we are involved in various legal proceedings , and subject to investigations , inspections , audits , inquiries and similar actions by governmental authorities arising in the normal course of business .the types of allegations that arise in connection with such legal proceedings vary in nature , but can include claims related to contract , employment , tax and intellectual property matters .we evaluate all cases each reporting period and record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount , or potential range , of loss can be reasonably estimated .in certain cases , we cannot reasonably estimate the potential loss because , for example , the litigation is in its early stages .while any outcome related to litigation or such governmental proceedings in which we are involved cannot be predicted with certainty , management believes that the outcome of these matters , individually and in the aggregate , will not have a material adverse effect on our financial condition , results of operations or cash flows .as previously disclosed , on april 10 , 2015 , a federal judge in brazil authorized the search of the records of an agency 2019s offices in s e3o paulo and brasilia , in connection with an ongoing investigation by brazilian authorities involving payments potentially connected to local government contracts .the company had previously investigated the matter and taken a number of remedial and disciplinary actions .the company has been in the process of concluding a settlement related to these matters with government agencies , and that settlement was fully executed in april 2018 .the company has previously provided for such settlement in its consolidated financial statements. .
|
what was the percent decrease of redeemable noncontrolling interests and call options with affiliates from 2021 to 2022?
|
86.71%
|
{
"answer": "86.71%",
"decimal": 0.8671,
"type": "percentage"
}
| |
long-term liabilities .the value of the company 2019s deferred compensation obligations is based on the market value of the participants 2019 notional investment accounts .the notional investments are comprised primarily of mutual funds , which are based on observable market prices .mark-to-market derivative asset and liability 2014the company utilizes fixed-to-floating interest-rate swaps , typically designated as fair-value hedges , to achieve a targeted level of variable-rate debt as a percentage of total debt .the company also employs derivative financial instruments in the form of variable-to-fixed interest rate swaps , classified as economic hedges , in order to fix the interest cost on some of its variable-rate debt .the company uses a calculation of future cash inflows and estimated future outflows , which are discounted , to determine the current fair value .additional inputs to the present value calculation include the contract terms , counterparty credit risk , interest rates and market volatility .other investments 2014other investments primarily represent money market funds used for active employee benefits .the company includes other investments in other current assets .note 18 : leases the company has entered into operating leases involving certain facilities and equipment .rental expenses under operating leases were $ 21 for 2015 , $ 22 for 2014 and $ 23 for 2013 .the operating leases for facilities will expire over the next 25 years and the operating leases for equipment will expire over the next five years .certain operating leases have renewal options ranging from one to five years .the minimum annual future rental commitment under operating leases that have initial or remaining non- cancelable lease terms over the next five years and thereafter are as follows: .
[['year', 'amount'], ['2016', '$ 13'], ['2017', '12'], ['2018', '11'], ['2019', '10'], ['2020', '8'], ['thereafter', '74']]
the company has a series of agreements with various public entities ( the 201cpartners 201d ) to establish certain joint ventures , commonly referred to as 201cpublic-private partnerships . 201d under the public-private partnerships , the company constructed utility plant , financed by the company and the partners constructed utility plant ( connected to the company 2019s property ) , financed by the partners .the company agreed to transfer and convey some of its real and personal property to the partners in exchange for an equal principal amount of industrial development bonds ( 201cidbs 201d ) , issued by the partners under a state industrial development bond and commercial development act .the company leased back the total facilities , including portions funded by both the company and the partners , under leases for a period of 40 years .the leases related to the portion of the facilities funded by the company have required payments from the company to the partners that approximate the payments required by the terms of the idbs from the partners to the company ( as the holder of the idbs ) .as the ownership of the portion of the facilities constructed by the company will revert back to the company at the end of the lease , the company has recorded these as capital leases .the lease obligation and the receivable for the principal amount of the idbs are presented by the company on a net basis .the gross cost of the facilities funded by the company recognized as a capital lease asset was $ 156 and $ 157 as of december 31 , 2015 and 2014 , respectively , which is presented in property , plant and equipment in the accompanying consolidated balance sheets .the future payments under the lease obligations are equal to and offset by the payments receivable under the idbs. .
|
what was the change in annual rental expenses from 2015 to 2016 in dollars
|
8
|
{
"answer": "8",
"decimal": 8,
"type": "float"
}
|
the change from one period to another is the difference between the 2 periods
|
part ii item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities market information our common stock is listed and traded on the new york stock exchange under the symbol 201cipg 201d .as of february 13 , 2019 , there were approximately 10000 registered holders of our outstanding common stock .on february 13 , 2019 , we announced that our board of directors ( the 201cboard 201d ) had declared a common stock cash dividend of $ 0.235 per share , payable on march 15 , 2019 to holders of record as of the close of business on march 1 , 2019 .although it is the board 2019s current intention to declare and pay future dividends , there can be no assurance that such additional dividends will in fact be declared and paid .any and the amount of any such declaration is at the discretion of the board and will depend upon factors such as our earnings , financial position and cash requirements .equity compensation plans see item 12 for information about our equity compensation plans .transfer agent and registrar for common stock the transfer agent and registrar for our common stock is : computershare shareowner services llc 480 washington boulevard 29th floor jersey city , new jersey 07310 telephone : ( 877 ) 363-6398 sales of unregistered securities not applicable .repurchases of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2018 to december 31 , 2018 .total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 .
[['', 'total number ofshares ( or units ) purchased1', 'average price paidper share ( or unit ) 2', 'total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3', 'maximum number ( orapproximate dollar value ) of shares ( or units ) that may yet be purchasedunder the plans orprograms3'], ['october 1 - 31', '3824', '$ 23.30', '2014', '$ 338421933'], ['november 1 - 30', '1750', '$ 23.77', '2014', '$ 338421933'], ['december 1 - 31', '2014', '2014', '2014', '$ 338421933'], ['total', '5574', '$ 23.45', '2014', '']]
1 the total number of shares of our common stock , par value $ 0.10 per share , repurchased were withheld under the terms of grants under employee stock- based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) .2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum in the applicable period of the aggregate value of the tax withholding obligations by the sum of the number of withheld shares .3 in february 2017 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2017 share repurchase program 201d ) .in february 2018 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock , which was in addition to any amounts remaining under the 2017 share repurchase program .on july 2 , 2018 , in connection with the announcement of the acxiom acquisition , we announced that share repurchases will be suspended for a period of time in order to reduce the increased debt levels incurred in conjunction with the acquisition , and no shares were repurchased pursuant to the share repurchase programs in the periods reflected .there are no expiration dates associated with the share repurchase programs. .
|
how much more was spent on purchased shares in october than in november?
|
47501.7
|
{
"answer": "47501.7",
"decimal": 47501.7,
"type": "float"
}
| |
2022 the ability to identify suitable acquisition candidates and the ability to finance such acquisitions , which depends upon the availability of adequate cash reserves from operations or of acceptable financing terms and the variability of our stock price ; 2022 our ability to integrate any acquired business 2019 operations , services , clients , and personnel ; 2022 the effect of our substantial leverage , which may limit the funds available to make acquisitions and invest in our business ; 2022 changes in , or the failure to comply with , government regulations , including privacy regulations ; and 2022 other risks detailed elsewhere in this risk factors section and in our other filings with the securities and exchange commission .we are not under any obligation ( and expressly disclaim any such obligation ) to update or alter our forward- looking statements , whether as a result of new information , future events or otherwise .you should carefully consider the possibility that actual results may differ materially from our forward-looking statements .item 1b .unresolved staff comments .item 2 .properties .our corporate headquarters are located in jacksonville , florida , in an owned facility .fnf occupies and pays us rent for approximately 86000 square feet in this facility .we lease office space as follows : number of locations ( 1 ) .
[['state', 'number of locations ( 1 )'], ['california', '44'], ['texas', '21'], ['florida', '18'], ['georgia new york', '10'], ['new jersey', '8'], ['illinois massachusetts', '7'], ['alabama arizona minnesota north carolina', '6'], ['other', '64']]
( 1 ) represents the number of locations in each state listed .we also lease approximately 72 locations outside the united states .we believe our properties are adequate for our business as presently conducted .item 3 .legal proceedings .in the ordinary course of business , the company is involved in various pending and threatened litigation matters related to operations , some of which include claims for punitive or exemplary damages .the company believes that no actions , other than the matters listed below , depart from customary litigation incidental to its business .as background to the disclosure below , please note the following : 2022 these matters raise difficult and complicated factual and legal issues and are subject to many uncertainties and complexities .2022 the company reviews these matters on an on-going basis and follows the provisions of statement of financial accounting standards no .5 , accounting for contingencies ( 201csfas 5 201d ) , when making accrual and disclosure decisions .when assessing reasonably possible and probable outcomes , the company bases decisions on the assessment of the ultimate outcome following all appeals. .
|
what is the total number of locations leased by fis?
|
136
|
{
"answer": "136",
"decimal": 136,
"type": "float"
}
| |
the following table sets forth our refined products sales by product group and our average sales price for each of the last three years .refined product sales ( thousands of barrels per day ) 2008 2007 2006 .
[['( thousands of barrels per day )', '2008', '2007', '2006'], ['gasoline', '756', '791', '804'], ['distillates', '375', '377', '375'], ['propane', '22', '23', '23'], ['feedstocks and special products', '100', '103', '106'], ['heavy fuel oil', '23', '29', '26'], ['asphalt', '76', '87', '91'], ['total ( a )', '1352', '1410', '1425'], ['average sales price ( dollars per barrel )', '$ 109.49', '$ 86.53', '$ 77.76']]
total ( a ) 1352 1410 1425 average sales price ( dollars per barrel ) $ 109.49 $ 86.53 $ 77.76 ( a ) includes matching buy/sell volumes of 24 mbpd in 2006 .on april 1 , 2006 , we changed our accounting for matching buy/sell arrangements as a result of a new accounting standard .this change resulted in lower refined products sales volumes for 2008 , 2007 and the remainder of 2006 than would have been reported under our previous accounting practices .see note 2 to the consolidated financial statements .gasoline and distillates 2013 we sell gasoline , gasoline blendstocks and no .1 and no .2 fuel oils ( including kerosene , jet fuel , diesel fuel and home heating oil ) to wholesale marketing customers in the midwest , upper great plains , gulf coast and southeastern regions of the united states .we sold 47 percent of our gasoline volumes and 88 percent of our distillates volumes on a wholesale or spot market basis in 2008 .the demand for gasoline is seasonal in many of our markets , with demand typically being at its highest levels during the summer months .we have blended fuel ethanol into gasoline for over 15 years and began increasing our blending program in 2007 , in part due to federal regulations that require us to use specified volumes of renewable fuels .we blended 57 mbpd of ethanol into gasoline in 2008 , 41 mbpd in 2007 and 35 mbpd in 2006 .the future expansion or contraction of our ethanol blending program will be driven by the economics of the ethanol supply and by government regulations .we sell reformulated gasoline , which is also blended with ethanol , in parts of our marketing territory , including : chicago , illinois ; louisville , kentucky ; northern kentucky ; milwaukee , wisconsin and hartford , illinois .we also sell biodiesel-blended diesel in minnesota , illinois and kentucky .in 2007 , we acquired a 35 percent interest in an entity which owns and operates a 110-million-gallon-per-year ethanol production facility in clymers , indiana .we also own a 50 percent interest in an entity which owns a 110-million-gallon-per-year ethanol production facility in greenville , ohio .the greenville plant began production in february 2008 .both of these facilities are managed by a co-owner .propane 2013 we produce propane at all seven of our refineries .propane is primarily used for home heating and cooking , as a feedstock within the petrochemical industry , for grain drying and as a fuel for trucks and other vehicles .our propane sales are typically split evenly between the home heating market and industrial consumers .feedstocks and special products 2013 we are a producer and marketer of petrochemicals and specialty products .product availability varies by refinery and includes benzene , cumene , dilute naphthalene oil , molten maleic anhydride , molten sulfur , propylene , toluene and xylene .we market propylene , cumene and sulfur domestically to customers in the chemical industry .we sell maleic anhydride throughout the united states and canada .we also have the capacity to produce 1400 tons per day of anode grade coke at our robinson refinery , which is used to make carbon anodes for the aluminum smelting industry , and 2700 tons per day of fuel grade coke at the garyville refinery , which is used for power generation and in miscellaneous industrial applications .in september 2008 , we shut down our lubes facility in catlettsburg , kentucky , and sold from inventory through december 31 , 2008 ; therefore , base oils , aromatic extracts and slack wax are no longer being produced and marketed .in addition , we have recently discontinued production and sales of petroleum pitch and aliphatic solvents .heavy fuel oil 2013 we produce and market heavy oil , also known as fuel oil , residual fuel or slurry at all seven of our refineries .another product of crude oil , heavy oil is primarily used in the utility and ship bunkering ( fuel ) industries , though there are other more specialized uses of the product .we also sell heavy fuel oil at our terminals in wellsville , ohio , and chattanooga , tennessee .asphalt 2013 we have refinery based asphalt production capacity of up to 102 mbpd .we market asphalt through 33 owned or leased terminals throughout the midwest and southeast .we have a broad customer base , including .
|
how much of refined product sales consisted of heavy fuel oil in 2008?
|
1.7%
|
{
"answer": "1.7%",
"decimal": 0.017,
"type": "percentage"
}
| |
aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support , and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles , and related technologies .aeronautics 2019 major programs include the f-35 lightning ii joint strike fighter , c-130 hercules , f-16 fighting falcon , f-22 raptor , and the c-5m super galaxy .aeronautics 2019 operating results included the following ( in millions ) : .
[['', '2013', '2012', '2011'], ['net sales', '$ 14123', '$ 14953', '$ 14362'], ['operating profit', '1612', '1699', '1630'], ['operating margins', '11.4% ( 11.4 % )', '11.4% ( 11.4 % )', '11.3% ( 11.3 % )'], ['backlog at year-end', '28000', '30100', '30500']]
2013 compared to 2012 aeronautics 2019 net sales for 2013 decreased $ 830 million , or 6% ( 6 % ) , compared to 2012 .the decrease was primarily attributable to lower net sales of approximately $ 530 million for the f-16 program due to fewer aircraft deliveries ( 13 aircraft delivered in 2013 compared to 37 delivered in 2012 ) partially offset by aircraft configuration mix ; about $ 385 million for the c-130 program due to fewer aircraft deliveries ( 25 aircraft delivered in 2013 compared to 34 in 2012 ) partially offset by increased sustainment activities ; approximately $ 255 million for the f-22 program , which includes about $ 205 million due to decreased production volume as final aircraft deliveries were completed during the second quarter of 2012 and $ 50 million from the favorable resolution of a contractual matter during the second quarter of 2012 ; and about $ 270 million for various other programs ( primarily sustainment activities ) due to decreased volume .the decreases were partially offset by higher net sales of about $ 295 million for f-35 production contracts due to increased production volume and risk retirements ; approximately $ 245 million for the c-5 program due to increased aircraft deliveries ( six aircraft delivered in 2013 compared to four in 2012 ) and other modernization activities ; and about $ 70 million for the f-35 development contract due to increased volume .aeronautics 2019 operating profit for 2013 decreased $ 87 million , or 5% ( 5 % ) , compared to 2012 .the decrease was primarily attributable to lower operating profit of about $ 85 million for the f-22 program , which includes approximately $ 50 million from the favorable resolution of a contractual matter in the second quarter of 2012 and about $ 35 million due to decreased risk retirements and production volume ; approximately $ 70 million for the c-130 program due to lower risk retirements and fewer deliveries partially offset by increased sustainment activities ; about $ 65 million for the c-5 program due to the inception-to-date effect of reducing the profit booking rate in the third quarter of 2013 and lower risk retirements ; approximately $ 35 million for the f-16 program due to fewer aircraft deliveries partially offset by increased sustainment activity and aircraft configuration mix .the decreases were partially offset by higher operating profit of approximately $ 180 million for f-35 production contracts due to increased risk retirements and volume .operating profit was comparable for the f-35 development contract and included adjustments of approximately $ 85 million to reflect the inception-to-date impacts of the downward revisions to the profit booking rate in both 2013 and 2012 .adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 75 million lower for 2013 compared to 2012 compared to 2011 aeronautics 2019 net sales for 2012 increased $ 591 million , or 4% ( 4 % ) , compared to 2011 .the increase was attributable to higher net sales of approximately $ 745 million from f-35 production contracts principally due to increased production volume ; about $ 285 million from f-16 programs primarily due to higher aircraft deliveries ( 37 f-16 aircraft delivered in 2012 compared to 22 in 2011 ) partially offset by lower volume on sustainment activities due to the completion of modification programs for certain international customers ; and approximately $ 140 million from c-5 programs due to higher aircraft deliveries ( four c-5m aircraft delivered in 2012 compared to two in 2011 ) .partially offsetting the increases were lower net sales of approximately $ 365 million from decreased production volume and lower risk retirements on the f-22 program as final aircraft deliveries were completed in the second quarter of 2012 ; approximately $ 110 million from the f-35 development contract primarily due to the inception-to-date effect of reducing the profit booking rate in the second quarter of 2012 and to a lesser extent lower volume ; and about $ 95 million from a decrease in volume on other sustainment activities partially offset by various other aeronautics programs due to higher volume .net sales for c-130 programs were comparable to 2011 as a decline in sustainment activities largely was offset by increased aircraft deliveries. .
|
what was the average net sales in millions for aeronautics from 2001 to 2013?
|
1647
|
{
"answer": "1647",
"decimal": 1647,
"type": "float"
}
| |
stock performance graph the following graph provides a comparison of five year cumulative total stockholder returns of teleflex common stock , the standard & poor 2019s ( s&p ) 500 stock index and the s&p 500 healthcare equipment & supply index .the annual changes for the five-year period shown on the graph are based on the assumption that $ 100 had been invested in teleflex common stock and each index on december 31 , 2010 and that all dividends were reinvested .market performance .
[['company / index', '2010', '2011', '2012', '2013', '2014', '2015'], ['teleflex incorporated', '100', '117', '138', '185', '229', '266'], ['s&p 500 index', '100', '102', '118', '157', '178', '181'], ['s&p 500 healthcare equipment & supply index', '100', '99', '116', '148', '187', '199']]
s&p 500 healthcare equipment & supply index 100 99 116 148 187 199 .
|
what is the total return of an investment of $ 1000000 in teleflex incorporated in 2010 and sold in 2015?
|
1660000
|
{
"answer": "1660000",
"decimal": 1660000,
"type": "float"
}
| |
the long term .in addition , we have focused on building relationships with large multinational carriers such as airtel , telef f3nica s.a .and vodafone group plc .we believe that consistent carrier investments in their networks across our international markets position us to generate meaningful organic revenue growth going forward .in emerging markets , such as ghana , india , nigeria and uganda , wireless networks tend to be significantly less advanced than those in the united states , and initial voice networks continue to be deployed in underdeveloped areas .a majority of consumers in these markets still utilize basic wireless services , predominantly on feature phones , while advanced device penetration remains low .in more developed urban locations within these markets , early-stage data network deployments are underway .carriers are focused on completing voice network build-outs while also investing in initial data networks as wireless data usage and smartphone penetration within their customer bases begin to accelerate .in markets with rapidly evolving network technology , such as south africa and most of the countries in latin america where we do business , initial voice networks , for the most part , have already been built out , and carriers are focused on 3g network build outs , with select investments in 4g technology .consumers in these regions are increasingly adopting smartphones and other advanced devices , and as a result , the usage of bandwidth-intensive mobile applications is growing materially .recent spectrum auctions in these rapidly evolving markets have allowed incumbent carriers to accelerate their data network deployments and have also enabled new entrants to begin initial investments in data networks .smartphone penetration and wireless data usage in these markets are growing rapidly , which typically requires that carriers continue to invest in their networks in order to maintain and augment their quality of service .finally , in markets with more mature network technology , such as germany , carriers are focused on deploying 4g data networks to account for rapidly increasing wireless data usage amongst their customer base .with higher smartphone and advanced device penetration and significantly higher per capita data usage , carrier investment in networks is focused on 4g coverage and capacity .we believe that the network technology migration we have seen in the united states , which has led to significantly denser networks and meaningful new business commencements for us over a number of years , will ultimately be replicated in our less advanced international markets .as a result , we expect to be able to leverage our extensive international portfolio of approximately 60190 communications sites and the relationships we have built with our carrier customers to drive sustainable , long-term growth .we have holistic master lease agreements with certain of our tenants that provide for consistent , long-term revenue and a reduction in the likelihood of churn .our holistic master lease agreements build and augment strong strategic partnerships with our tenants and have significantly reduced collocation cycle times , thereby providing our tenants with the ability to rapidly and efficiently deploy equipment on our sites .property operations new site revenue growth .during the year ended december 31 , 2015 , we grew our portfolio of communications real estate through the acquisition and construction of approximately 25370 sites .in a majority of our asia , emea and latin america markets , the acquisition or construction of new sites resulted in increases in both tenant and pass- through revenues ( such as ground rent or power and fuel costs ) and expenses .we continue to evaluate opportunities to acquire communications real estate portfolios , both domestically and internationally , to determine whether they meet our risk-adjusted hurdle rates and whether we believe we can effectively integrate them into our existing portfolio. .
[['new sites ( acquired or constructed )', '2015', '2014', '2013'], ['u.s .', '11595', '900', '5260'], ['asia', '2330', '1560', '1260'], ['emea', '4910', '190', '485'], ['latin america', '6535', '5800', '6065']]
property operations expenses .direct operating expenses incurred by our property segments include direct site level expenses and consist primarily of ground rent and power and fuel costs , some or all of which may be passed through to our tenants , as well as property taxes , repairs and maintenance .these segment direct operating expenses exclude all segment and corporate selling , general , administrative and development expenses , which are aggregated into one line item entitled selling , general , administrative and development expense in our consolidated statements of operations .in general , our property segments 2019 selling , general , administrative and development expenses do not significantly increase as a result of adding incremental tenants to our legacy sites and typically increase only modestly year-over-year .as a result , leasing additional space to new tenants on our legacy sites provides significant incremental cash flow .we may , however , incur additional segment .
|
what was the percentage of the real estate portfolios for asia from 2014 to 2015
|
49.35%
|
{
"answer": "49.35%",
"decimal": 0.4935,
"type": "percentage"
}
| |
additions to property , plant and equipment are our most significant use of cash and cash equivalents .the following table shows capital expenditures related to continuing operations by segment and reconciles to additions to property , plant and equipment as presented in the consolidated statements of cash flows for 2014 , 2013 and 2012: .
[['( in millions )', 'year ended december 31 , 2014', 'year ended december 31 , 2013', 'year ended december 31 , 2012'], ['north america e&p', '$ 4698', '$ 3649', '$ 3988'], ['international e&p', '534', '456', '235'], ['oil sands mining', '212', '286', '188'], ['corporate', '51', '58', '115'], ['total capital expenditures', '5495', '4449', '4526'], ['change in capital expenditure accrual', '-335 ( 335 )', '-6 ( 6 )', '-165 ( 165 )'], ['additions to property plant and equipment', '$ 5160', '$ 4443', '$ 4361']]
as of december 31 , 2014 , we had repurchased a total of 121 million common shares at a cost of $ 4.7 billion , including 29 million shares at a cost of $ 1 billion in the first six months of 2014 and 14 million shares at a cost of $ 500 million in the third quarter of 2013 .see item 8 .financial statements and supplementary data 2013 note 22 to the consolidated financial statements for discussion of purchases of common stock .liquidity and capital resources our main sources of liquidity are cash and cash equivalents , internally generated cash flow from operations , continued access to capital markets , our committed revolving credit facility and sales of non-strategic assets .our working capital requirements are supported by these sources and we may issue commercial paper backed by our $ 2.5 billion revolving credit facility to meet short-term cash requirements .because of the alternatives available to us as discussed above and access to capital markets through the shelf registration discussed below , we believe that our short-term and long-term liquidity is adequate to fund not only our current operations , but also our near-term and long-term funding requirements including our capital spending programs , dividend payments , defined benefit plan contributions , repayment of debt maturities and other amounts that may ultimately be paid in connection with contingencies .at december 31 , 2014 , we had approximately $ 4.9 billion of liquidity consisting of $ 2.4 billion in cash and cash equivalents and $ 2.5 billion availability under our revolving credit facility .as discussed in more detail below in 201coutlook 201d , we are targeting a $ 3.5 billion budget for 2015 .based on our projected 2015 cash outlays for our capital program and dividends , we expect to outspend our cash flows from operations for the year .we will be constantly monitoring our available liquidity during 2015 and we have the flexibility to adjust our budget throughout the year in response to the commodity price environment .we will also continue to drive the fundamentals of expense management , including organizational capacity and operational reliability .capital resources credit arrangements and borrowings in may 2014 , we amended our $ 2.5 billion unsecured revolving credit facility and extended the maturity to may 2019 .see note 16 to the consolidated financial statements for additional terms and rates .at december 31 , 2014 , we had no borrowings against our revolving credit facility and no amounts outstanding under our u.s .commercial paper program that is backed by the revolving credit facility .at december 31 , 2014 , we had $ 6391 million in long-term debt outstanding , and $ 1068 million is due within one year , of which the majority is due in the fourth quarter of 2015 .we do not have any triggers on any of our corporate debt that would cause an event of default in the case of a downgrade of our credit ratings .shelf registration we have a universal shelf registration statement filed with the sec , under which we , as "well-known seasoned issuer" for purposes of sec rules , have the ability to issue and sell an indeterminate amount of various types of debt and equity securities from time to time. .
|
what percentage as of december 31 , 2014 liquidity consisted of cash and cash equivalents?
|
49.0%
|
{
"answer": "49.0%",
"decimal": 0.49,
"type": "percentage"
}
| |
table of contents research and development expense ( 201cr&d 201d ) r&d expense increased 34% ( 34 % ) or $ 449 million to $ 1.8 billion in 2010 compared to 2009 .this increase was due primarily to an increase in headcount and related expenses in the current year to support expanded r&d activities .also contributing to this increase in r&d expense in 2010 was the capitalization in 2009 of software development costs of $ 71 million related to mac os x snow leopard .although total r&d expense increased 34% ( 34 % ) during 2010 , it declined as a percentage of net sales given the 52% ( 52 % ) year-over-year increase in net sales in 2010 .the company continues to believe that focused investments in r&d are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the company 2019s core business strategy .as such , the company expects to make further investments in r&d to remain competitive .r&d expense increased 20% ( 20 % ) or $ 224 million to $ 1.3 billion in 2009 compared to 2008 .this increase was due primarily to an increase in headcount in 2009 to support expanded r&d activities and higher stock-based compensation expenses .additionally , $ 71 million of software development costs were capitalized related to mac os x snow leopard and excluded from r&d expense during 2009 , compared to $ 11 million of software development costs capitalized during 2008 .although total r&d expense increased 20% ( 20 % ) during 2009 , it remained relatively flat as a percentage of net sales given the 14% ( 14 % ) increase in revenue in 2009 .selling , general and administrative expense ( 201csg&a 201d ) sg&a expense increased $ 1.4 billion or 33% ( 33 % ) to $ 5.5 billion in 2010 compared to 2009 .this increase was due primarily to the company 2019s continued expansion of its retail segment , higher spending on marketing and advertising programs , increased stock-based compensation expenses and variable costs associated with the overall growth of the company 2019s net sales .sg&a expenses increased $ 388 million or 10% ( 10 % ) to $ 4.1 billion in 2009 compared to 2008 .this increase was due primarily to the company 2019s continued expansion of its retail segment in both domestic and international markets , higher stock-based compensation expense and higher spending on marketing and advertising .other income and expense other income and expense for the three years ended september 25 , 2010 , are as follows ( in millions ) : total other income and expense decreased $ 171 million or 52% ( 52 % ) to $ 155 million during 2010 compared to $ 326 million and $ 620 million in 2009 and 2008 , respectively .the overall decrease in other income and expense is attributable to the significant declines in interest rates on a year- over-year basis , partially offset by the company 2019s higher cash , cash equivalents and marketable securities balances .the weighted average interest rate earned by the company on its cash , cash equivalents and marketable securities was 0.75% ( 0.75 % ) , 1.43% ( 1.43 % ) and 3.44% ( 3.44 % ) during 2010 , 2009 and 2008 , respectively .additionally the company incurred higher premium expenses on its foreign exchange option contracts , which further reduced the total other income and expense .during 2010 , 2009 and 2008 , the company had no debt outstanding and accordingly did not incur any related interest expense .provision for income taxes the company 2019s effective tax rates were 24% ( 24 % ) , 32% ( 32 % ) and 32% ( 32 % ) for 2010 , 2009 and 2008 , respectively .the company 2019s effective rates for these periods differ from the statutory federal income tax rate of 35% ( 35 % ) due .
[['', '2010', '2009', '2008'], ['interest income', '$ 311', '$ 407', '$ 653'], ['other income ( expense ) net', '-156 ( 156 )', '-81 ( 81 )', '-33 ( 33 )'], ['total other income and expense', '$ 155', '$ 326', '$ 620']]
.
|
by how much did total other income and expense decrease from 2008 to 2009?
|
47.4%
|
{
"answer": "47.4%",
"decimal": 0.474,
"type": "percentage"
}
| |
note 4 - goodwill and other intangible assets : goodwill the company had approximately $ 93.2 million and $ 94.4 million of goodwill at december 30 , 2017 and december 31 , 2016 , respectively .the changes in the carrying amount of goodwill for the years ended december 30 , 2017 and december 31 , 2016 are as follows ( in thousands ) : .
[['', '2017', '2016'], ['balance beginning of year', '$ 94417', '$ 10258'], ['goodwill acquired as part of acquisition', '2014', '84159'], ['working capital settlement', '-1225 ( 1225 )', '2014'], ['impairment loss', '2014', '2014'], ['balance end of year', '$ 93192', '$ 94417']]
goodwill is allocated to each identified reporting unit , which is defined as an operating segment or one level below the operating segment .goodwill is not amortized , but is evaluated for impairment annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable .the company completes its impairment evaluation by performing valuation analyses and considering other publicly available market information , as appropriate .the test used to identify the potential for goodwill impairment compares the fair value of a reporting unit with its carrying value .an impairment charge would be recorded to the company 2019s operations for the amount , if any , in which the carrying value exceeds the fair value .in the fourth quarter of fiscal 2017 , the company completed its annual impairment testing of goodwill and no impairment was identified .the company determined that the fair value of each reporting unit ( including goodwill ) was in excess of the carrying value of the respective reporting unit .in reaching this conclusion , the fair value of each reporting unit was determined based on either a market or an income approach .under the market approach , the fair value is based on observed market data .other intangible assets the company had approximately $ 31.3 million of intangible assets other than goodwill at december 30 , 2017 and december 31 , 2016 .the intangible asset balance represents the estimated fair value of the petsense tradename , which is not subject to amortization as it has an indefinite useful life on the basis that it is expected to contribute cash flows beyond the foreseeable horizon .with respect to intangible assets , we evaluate for impairment annually and whenever events or changes in circumstances indicate that the carrying value may not be recoverable .we recognize an impairment loss only if the carrying amount is not recoverable through its discounted cash flows and measure the impairment loss based on the difference between the carrying value and fair value .in the fourth quarter of fiscal 2017 , the company completed its annual impairment testing of intangible assets and no impairment was identified. .
|
what percent did the company's goodwill balance increase between the between the beginning of 2016 and the end of 2017?
|
808.5%
|
{
"answer": "808.5%",
"decimal": 8.085,
"type": "percentage"
}
| |
business-related metrics as of or for the year ended december 31 .
[['( in billions except ratios )', '2003', '2002', 'change'], ['loan and lease receivables', '$ 43.2', '$ 37.4', '16% ( 16 % )'], ['average loan and lease receivables', '41.7', '31.7', '32'], ['automobile origination volume', '27.8', '25.3', '10'], ['automobile market share', '6.1% ( 6.1 % )', '5.7% ( 5.7 % )', '40bp'], ['30+ day delinquency rate', '1.46', '1.54', '-8 ( 8 )'], ['net charge-off ratio', '0.41', '0.51', '-10 ( 10 )'], ['overhead ratio', '35', '36', '-100 ( 100 )']]
crb is the no .1 bank in the new york tri-state area and a top five bank in texas ( both ranked by retail deposits ) , providing payment , liquidity , investment , insurance and credit products and services to three primary customer segments : small busi- ness , affluent and retail .within these segments , crb serves 326000 small businesses , 433000 affluent consumers and 2.6 million mass-market consumers .crb 2019s continued focus on expanding customer relationships resulted in a 14% ( 14 % ) increase in core deposits ( for this purpose , core deposits are total deposits less time deposits ) from december 31 , 2002 , and a 77% ( 77 % ) increase in the cross-sell of chase credit products over 2002 .in 2003 , mortgage and home equity originations through crb 2019s distribution channels were $ 3.4 billion and $ 4.7 billion , respectively .branch-originated credit cards totaled 77000 , contributing to 23% ( 23 % ) of crb customers holding chase credit cards .crb is compensated by cfs 2019s credit businesses for the home finance and credit card loans it origi- nates and does not retain these balances .chase regional banking while crb continues to position itself for growth , decreased deposit spreads related to the low-rate environment and increased credit costs resulted in an 80% ( 80 % ) decline in crb operating earnings from 2002 .this decrease was partly offset by an 8% ( 8 % ) increase in total average deposits .operating revenue of $ 2.6 billion decreased by 9% ( 9 % ) compared with 2002 .net interest income declined by 11% ( 11 % ) to $ 1.7 billion , primarily attributable to the lower interest rate environment .noninterest revenue decreased 6% ( 6 % ) to $ 927 million due to lower deposit service fees , decreased debit card fees and one-time gains in 2002 .crb 2019s revenue does not include funding profits earned on its deposit base ; these amounts are included in the results of global treasury .operating expense of $ 2.4 billion increased by 7% ( 7 % ) from 2002 .the increase was primarily due to investments in technology within the branch network ; also contributing were higher compensation expenses related to increased staff levels and higher severance costs as a result of continued restructuring .this increase in operating caf is the largest u.s .bank originator of automobile loans and leases , with more than 2.9 million accounts .in 2003 , caf had a record number of automobile loan and lease originations , growing by 10% ( 10 % ) over 2002 to $ 27.8 billion .loan and lease receivables of $ 43.2 billion at december 31 , 2003 , were 16% ( 16 % ) higher than at the prior year-end .despite a challenging operating environment reflecting slightly declining new car sales in 2003 and increased competition , caf 2019s market share among automobile finance companies improved to 6.1% ( 6.1 % ) in 2003 from 5.7% ( 5.7 % ) in 2002 .the increase in market share was the result of strong organic growth and an origination strategy that allies the business with manufac- turers and dealers .caf 2019s relationships with several major car manufacturers contributed to 2003 growth , as did caf 2019s dealer relationships , which increased from approximately 12700 dealers in 2002 to approximately 13700 dealers in 2003 .in 2003 , operating earnings were $ 205 million , 23% ( 23 % ) higher compared with 2002 .the increase in earnings was driven by continued revenue growth and improved operating efficiency .in 2003 , caf 2019s operating revenue grew by 23% ( 23 % ) to $ 842 million .net interest income grew by 33% ( 33 % ) compared with 2002 .the increase was driven by strong operating performance due to higher average loans and leases outstanding , reflecting continued strong origination volume and lower funding costs .operating expense of $ 292 million increased by 18% ( 18 % ) compared with 2002 .the increase in expenses was driven by higher average chase auto finance loans outstanding , higher origination volume and higher perform- ance-based incentives .caf 2019s overhead ratio improved from 36% ( 36 % ) in 2002 to 35% ( 35 % ) in 2003 , as a result of strong revenue growth , con- tinued productivity gains and disciplined expense management .credit costs increased 18% ( 18 % ) to $ 205 million , primarily reflecting a 32% ( 32 % ) increase in average loan and lease receivables .credit quality continued to be strong relative to 2002 , as evidenced by a lower net charge-off ratio and 30+ day delinquency rate .caf also comprises chase education finance , a top provider of government-guaranteed and private loans for higher education .loans are provided through a joint venture with sallie mae , a government-sponsored enterprise and the leader in funding and servicing education loans .chase education finance 2019s origination volume totaled $ 2.7 billion , an increase of 4% ( 4 % ) from last year .management 2019s discussion and analysis j.p .morgan chase & co .42 j.p .morgan chase & co ./ 2003 annual report .
|
what was the operating revenue in 2002
|
157.85%
|
{
"answer": "157.85%",
"decimal": 1.5785,
"type": "percentage"
}
| |
liquidity monitoring and measurement stress testing liquidity stress testing is performed for each of citi 2019s major entities , operating subsidiaries and/or countries .stress testing and scenario analyses are intended to quantify the potential impact of a liquidity event on the balance sheet and liquidity position , and to identify viable funding alternatives that can be utilized .these scenarios include assumptions about significant changes in key funding sources , market triggers ( such as credit ratings ) , potential uses of funding and political and economic conditions in certain countries .these conditions include expected and stressed market conditions as well as company- specific events .liquidity stress tests are conducted to ascertain potential mismatches between liquidity sources and uses over a variety of time horizons ( overnight , one week , two weeks , one month , three months , one year ) and over a variety of stressed conditions .liquidity limits are set accordingly .to monitor the liquidity of an entity , these stress tests and potential mismatches are calculated with varying frequencies , with several tests performed daily .given the range of potential stresses , citi maintains a series of contingency funding plans on a consolidated basis and for individual entities .these plans specify a wide range of readily available actions for a variety of adverse market conditions or idiosyncratic stresses .short-term liquidity measurement : liquidity coverage ratio ( lcr ) in addition to internal measures that citi has developed for a 30-day stress scenario , citi also monitors its liquidity by reference to the lcr , as calculated pursuant to the u.s .lcr rules .generally , the lcr is designed to ensure that banks maintain an adequate level of hqla to meet liquidity needs under an acute 30-day stress scenario .the lcr is calculated by dividing hqla by estimated net outflows over a stressed 30-day period , with the net outflows determined by applying prescribed outflow factors to various categories of liabilities , such as deposits , unsecured and secured wholesale borrowings , unused lending commitments and derivatives- related exposures , partially offset by inflows from assets maturing within 30 days .banks are required to calculate an add-on to address potential maturity mismatches between contractual cash outflows and inflows within the 30-day period in determining the total amount of net outflows .the minimum lcr requirement is 100% ( 100 % ) , effective january 2017 .in december 2016 , the federal reserve board adopted final rules which require additional disclosures relating to the lcr of large financial institutions , including citi .among other things , the final rules require citi to disclose components of its average hqla , lcr and inflows and outflows each quarter .in addition , the final rules require disclosure of citi 2019s calculation of the maturity mismatch add-on as well as other qualitative disclosures .the effective date for these disclosures is april 1 , 2017 .the table below sets forth the components of citi 2019s lcr calculation and hqla in excess of net outflows for the periods indicated : in billions of dollars dec .31 , sept .30 , dec .31 .
[['in billions of dollars', 'dec . 31 2016', 'sept . 30 2016', 'dec . 31 2015'], ['hqla', '$ 403.7', '$ 403.8', '$ 389.2'], ['net outflows', '332.5', '335.3', '344.4'], ['lcr', '121% ( 121 % )', '120% ( 120 % )', '113% ( 113 % )'], ['hqla in excess of net outflows', '$ 71.3', '$ 68.5', '$ 44.8']]
note : amounts set forth in the table above are presented on an average basis .as set forth in the table above , citi 2019s lcr increased both year-over-year and sequentially .the increase year-over-year was driven by both an increase in hqla and a reduction in net outflows .sequentially , the increase was driven by a slight reduction in net outflows , as hqla remained largely unchanged .long-term liquidity measurement : net stable funding ratio ( nsfr ) in the second quarter of 2016 , the federal reserve board , the fdic and the occ issued a proposed rule to implement the basel iii nsfr requirement .the u.s.-proposed nsfr is largely consistent with the basel committee 2019s final nsfr rules .in general , the nsfr assesses the availability of a bank 2019s stable funding against a required level .a bank 2019s available stable funding would include portions of equity , deposits and long-term debt , while its required stable funding would be based on the liquidity characteristics of its assets , derivatives and commitments .standardized weightings would be required to be applied to the various asset and liabilities classes .the ratio of available stable funding to required stable funding would be required to be greater than 100% ( 100 % ) .while citi believes that it is compliant with the proposed u.s .nsfr rules as of december 31 , 2016 , it will need to evaluate any final version of the rules , which are expected to be released during 2017 .the proposed rules would require full implementation of the u.s .nsfr beginning january 1 , 2018. .
|
what was the change in billions of net outflows from december 31 , 2015 to december 31 , 2016?
|
-11.9
|
{
"answer": "-11.9",
"decimal": -11.9,
"type": "float"
}
| |
entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis plan to spin off the utility 2019s transmission business see the 201cplan to spin off the utility 2019s transmission business 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for a discussion of this matter , including the planned retirement of debt and preferred securities .results of operations net income 2011 compared to 2010 net income increased $ 242.5 million primarily due to a settlement with the irs related to the mark-to-market income tax treatment of power purchase contracts , which resulted in a $ 422 million income tax benefit .the net income effect was partially offset by a $ 199 million regulatory charge , which reduced net revenue , because a portion of the benefit will be shared with customers .see note 3 to the financial statements for additional discussion of the settlement and benefit sharing .2010 compared to 2009 net income decreased slightly by $ 1.4 million primarily due to higher other operation and maintenance expenses , a higher effective income tax rate , and higher interest expense , almost entirely offset by higher net revenue .net revenue 2011 compared to 2010 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .following is an analysis of the change in net revenue comparing 2011 to 2010 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2010 net revenue', '$ 1043.7'], ['mark-to-market tax settlement sharing', '-195.9 ( 195.9 )'], ['retail electric price', '32.5'], ['volume/weather', '11.6'], ['other', '-5.7 ( 5.7 )'], ['2011 net revenue', '$ 886.2']]
the mark-to-market tax settlement sharing variance results from a regulatory charge because a portion of the benefits of a settlement with the irs related to the mark-to-market income tax treatment of power purchase contracts will be shared with customers , slightly offset by the amortization of a portion of that charge beginning in october 2011 .see notes 3 and 8 to the financial statements for additional discussion of the settlement and benefit sharing .the retail electric price variance is primarily due to a formula rate plan increase effective may 2011 .see note 2 to the financial statements for discussion of the formula rate plan increase. .
|
what is the growth rate in net revenue from 2010 to 2011?
|
-15.1%
|
{
"answer": "-15.1%",
"decimal": -0.151,
"type": "percentage"
}
| |
consolidated results of operations year ended december 31 , 2018 compared to year ended december 31 , 2017 net revenues increased $ 203.9 million , or 4.1% ( 4.1 % ) , to $ 5193.2 million in 2018 from $ 4989.2 million in 2017 .net revenues by product category are summarized below: .
[['( in thousands )', 'year ended december 31 , 2018', 'year ended december 31 , 2017', 'year ended december 31 , $ change', 'year ended december 31 , % ( % ) change'], ['apparel', '$ 3462372', '$ 3287121', '$ 175251', '5.3% ( 5.3 % )'], ['footwear', '1063175', '1037840', '25335', '2.4'], ['accessories', '422496', '445838', '-23342 ( 23342 )', '-5.2 ( 5.2 )'], ['total net sales', '4948043', '4770799', '177244', '3.7'], ['license', '124785', '116575', '8210', '7.0'], ['connected fitness', '120357', '101870', '18487', '18.1'], ['total net revenues', '$ 5193185', '$ 4989244', '$ 203941', '4.1% ( 4.1 % )']]
the increase in net sales was driven primarily by : 2022 apparel unit sales growth driven by the train category ; and 2022 footwear unit sales growth , led by the run category .the increase was partially offset by unit sales decline in accessories .license revenues increased $ 8.2 million , or 7.0% ( 7.0 % ) , to $ 124.8 million in 2018 from $ 116.6 million in 2017 .connected fitness revenue increased $ 18.5 million , or 18.1% ( 18.1 % ) , to $ 120.4 million in 2018 from $ 101.9 million in 2017 primarily driven by increased subscribers on our fitness applications .gross profit increased $ 89.1 million to $ 2340.5 million in 2018 from $ 2251.4 million in 2017 .gross profit as a percentage of net revenues , or gross margin , was unchanged at 45.1% ( 45.1 % ) in 2018 compared to 2017 .gross profit percentage was favorably impacted by lower promotional activity , improvements in product cost , lower air freight , higher proportion of international and connected fitness revenue and changes in foreign currency ; these favorable impacts were offset by channel mix including higher sales to our off-price channel and restructuring related charges .with the exception of improvements in product input costs and air freight improvements , we do not expect these trends to have a material impact on the full year 2019 .selling , general and administrative expenses increased $ 82.8 million to $ 2182.3 million in 2018 from $ 2099.5 million in 2017 .as a percentage of net revenues , selling , general and administrative expenses decreased slightly to 42.0% ( 42.0 % ) in 2018 from 42.1% ( 42.1 % ) in 2017 .selling , general and administrative expense was impacted by the following : 2022 marketing costs decreased $ 21.3 million to $ 543.8 million in 2018 from $ 565.1 million in 2017 .this decrease was primarily due to restructuring efforts , resulting in lower compensation and contractual sports marketing .this decrease was partially offset by higher costs in connection with brand marketing campaigns and increased marketing investments with the growth of our international business .as a percentage of net revenues , marketing costs decreased to 10.5% ( 10.5 % ) in 2018 from 11.3% ( 11.3 % ) in 2017 .2022 other costs increased $ 104.1 million to $ 1638.5 million in 2018 from $ 1534.4 million in 2017 .this increase was primarily due to higher incentive compensation expense and higher costs incurred for the continued expansion of our direct to consumer distribution channel and international business .as a percentage of net revenues , other costs increased to 31.6% ( 31.6 % ) in 2018 from 30.8% ( 30.8 % ) in 2017 .restructuring and impairment charges increased $ 59.1 million to $ 183.1 million from $ 124.0 million in 2017 .refer to the restructuring plans section above for a summary of charges .income ( loss ) from operations decreased $ 52.8 million , or 189.9% ( 189.9 % ) , to a loss of $ 25.0 million in 2018 from income of $ 27.8 million in 2017 .as a percentage of net revenues , income from operations decreased to a loss of 0.4% ( 0.4 % ) in 2018 from income of 0.5% ( 0.5 % ) in 2017 .income from operations for the year ended december 31 , 2018 was negatively impacted by $ 203.9 million of restructuring , impairment and related charges in connection with the 2018 restructuring plan .income from operations for the year ended december 31 , 2017 was negatively impacted by $ 129.1 million of restructuring , impairment and related charges in connection with the 2017 restructuring plan .interest expense , net decreased $ 0.9 million to $ 33.6 million in 2018 from $ 34.5 million in 2017. .
|
what was connected fitness as a percentage of total net revenue in 2017?
|
2%
|
{
"answer": "2%",
"decimal": 0.02,
"type": "percentage"
}
| |
jpmorgan chase & co ./ 2004 annual report 29 firms were aligned to provide consistency across the business segments .in addition , expenses related to certain corporate functions , technology and operations ceased to be allocated to the business segments and are retained in corporate .these retained expenses include parent company costs that would not be incurred if the segments were stand-alone businesses ; adjustments to align certain corporate staff , technology and operations allocations with market prices ; and other one-time items not aligned with the business segments .capital allocation each business segment is allocated capital by taking into consideration stand- alone peer comparisons , economic risk measures and regulatory capital requirements .the amount of capital assigned to each business is referred to as equity .effective with the third quarter of 2004 , new methodologies were implemented to calculate the amount of capital allocated to each segment .as part of the new methodology , goodwill , as well as the associated capital , is allocated solely to corporate .although u.s .gaap requires the allocation of goodwill to the business segments for impairment testing ( see note 15 on page 109 of this annual report ) , the firm has elected not to include goodwill or the related capital in each of the business segments for management reporting purposes .see the capital management section on page 50 of this annual report for a discussion of the equity framework .credit reimbursement tss reimburses the ib for credit portfolio exposures the ib manages on behalf of clients the segments share .at the time of the merger , the reimbursement methodology was revised to be based on pre-tax earnings , net of the cost of capital related to those exposures .prior to the merger , the credit reimburse- ment was based on pre-tax earnings , plus the allocated capital associated with the shared clients .tax-equivalent adjustments segment results reflect revenues on a tax-equivalent basis for segment reporting purposes .refer to page 25 of this annual report for additional details .description of business segment reporting methodology results of the business segments are intended to reflect each segment as if it were essentially a stand-alone business .the management reporting process that derives these results allocates income and expense using market-based methodologies .at the time of the merger , several of the allocation method- ologies were revised , as noted below .the changes became effective july 1 , 2004 .as prior periods have not been revised to reflect these new methodologies , they are not comparable to the presentation of periods begin- ning with the third quarter of 2004 .further , the firm intends to continue to assess the assumptions , methodologies and reporting reclassifications used for segment reporting , and it is anticipated that further refinements may be implemented in future periods .revenue sharing when business segments join efforts to sell products and services to the firm 2019s clients , the participating business segments agree to share revenues from those transactions .these revenue sharing agreements were revised on the merger date to provide consistency across the lines of businesses .funds transfer pricing funds transfer pricing ( 201cftp 201d ) is used to allocate interest income and interest expense to each line of business and also serves to transfer interest rate risk to corporate .while business segments may periodically retain interest rate exposures related to customer pricing or other business-specific risks , the bal- ance of the firm 2019s overall interest rate risk exposure is included and managed in corporate .in the third quarter of 2004 , ftp was revised to conform the policies of the combined firms .expense allocation where business segments use services provided by support units within the firm , the costs of those support units are allocated to the business segments .those expenses are allocated based on their actual cost , or the lower of actual cost or market cost , as well as upon usage of the services provided .effective with the third quarter of 2004 , the cost allocation methodologies of the heritage segment results 2013 operating basis ( a ) ( b ) ( table continued from previous page ) year ended december 31 , operating earnings return on common equity 2013 goodwill ( c ) .
[['year ended december 31 , ( in millions except ratios )', 'year ended december 31 , 2004', 'year ended december 31 , 2003', 'year ended december 31 , change', '2004', '2003'], ['investment bank', '$ 2948', '$ 2805', '5% ( 5 % )', '17% ( 17 % )', '15% ( 15 % )'], ['retail financial services', '2199', '1547', '42', '24', '37'], ['card services', '1274', '683', '87', '17', '20'], ['commercial banking', '608', '307', '98', '29', '29'], ['treasury & securities services', '440', '422', '4', '17', '15'], ['asset & wealth management', '681', '287', '137', '17', '5'], ['corporate', '61', '668', '-91 ( 91 )', 'nm', 'nm'], ['total', '$ 8211', '$ 6719', '22% ( 22 % )', '16% ( 16 % )', '19% ( 19 % )']]
.
|
in 2004 , what percent of operating earnings were allocated to commercial banking?
|
7.4%
|
{
"answer": "7.4%",
"decimal": 0.07400000000000001,
"type": "percentage"
}
| |
in january 2016 , the company issued $ 800 million of debt securities consisting of a $ 400 million aggregate principal three year fixed rate note with a coupon rate of 2.00% ( 2.00 % ) and a $ 400 million aggregate principal seven year fixed rate note with a coupon rate of 3.25% ( 3.25 % ) .the proceeds were used to repay a portion of the company 2019s outstanding commercial paper , repay the remaining term loan balance , and for general corporate purposes .the company 2019s public notes and 144a notes may be redeemed by the company at its option at redemption prices that include accrued and unpaid interest and a make-whole premium .upon the occurrence of a change of control accompanied by a downgrade of the notes below investment grade rating , within a specified time period , the company would be required to offer to repurchase the public notes and 144a notes at a price equal to 101% ( 101 % ) of the aggregate principal amount thereof , plus any accrued and unpaid interest to the date of repurchase .the public notes and 144a notes are senior unsecured and unsubordinated obligations of the company and rank equally with all other senior and unsubordinated indebtedness of the company .the company entered into a registration rights agreement in connection with the issuance of the 144a notes .subject to certain limitations set forth in the registration rights agreement , the company has agreed to ( i ) file a registration statement ( the 201cexchange offer registration statement 201d ) with respect to registered offers to exchange the 144a notes for exchange notes ( the 201cexchange notes 201d ) , which will have terms identical in all material respects to the new 10-year notes and new 30-year notes , as applicable , except that the exchange notes will not contain transfer restrictions and will not provide for any increase in the interest rate thereon in certain circumstances and ( ii ) use commercially reasonable efforts to cause the exchange offer registration statement to be declared effective within 270 days after the date of issuance of the 144a notes .until such time as the exchange offer registration statement is declared effective , the 144a notes may only be sold in accordance with rule 144a or regulation s of the securities act of 1933 , as amended .private notes the company 2019s private notes may be redeemed by the company at its option at redemption prices that include accrued and unpaid interest and a make-whole premium .upon the occurrence of specified changes of control involving the company , the company would be required to offer to repurchase the private notes at a price equal to 100% ( 100 % ) of the aggregate principal amount thereof , plus any accrued and unpaid interest to the date of repurchase .additionally , the company would be required to make a similar offer to repurchase the private notes upon the occurrence of specified merger events or asset sales involving the company , when accompanied by a downgrade of the private notes below investment grade rating , within a specified time period .the private notes are unsecured senior obligations of the company and rank equal in right of payment with all other senior indebtedness of the company .the private notes shall be unconditionally guaranteed by subsidiaries of the company in certain circumstances , as described in the note purchase agreements as amended .other debt during 2015 , the company acquired the beneficial interest in the trust owning the leased naperville facility resulting in debt assumption of $ 100.2 million and the addition of $ 135.2 million in property , plant and equipment .certain administrative , divisional , and research and development personnel are based at the naperville facility .cash paid as a result of the transaction was $ 19.8 million .the assumption of debt and the majority of the property , plant and equipment addition represented non-cash financing and investing activities , respectively .the remaining balance on the assumed debt was settled in december 2017 and was reflected in the "other" line of the table above at december 31 , 2016 .covenants and future maturities the company is in compliance with all covenants under the company 2019s outstanding indebtedness at december 31 , 2017 .as of december 31 , 2017 , the aggregate annual maturities of long-term debt for the next five years were : ( millions ) .
[['2018', '$ 550'], ['2019', '397'], ['2020', '300'], ['2021', '1017'], ['2022', '497']]
.
|
what is the total yearly interest expense related to the notes issued in january 2016?
|
21
|
{
"answer": "21",
"decimal": 21,
"type": "float"
}
| |
operating profit for the segment decreased by 1% ( 1 % ) in 2010 compared to 2009 .for the year , operating profit declines in defense more than offset an increase in civil , while operating profit at intelligence essentially was unchanged .the $ 27 million decrease in operating profit at defense primarily was attributable to a decrease in the level of favorable performance adjustments on mission and combat systems activities in 2010 .the $ 19 million increase in civil principally was due to higher volume on enterprise civilian services .operating profit for the segment decreased by 3% ( 3 % ) in 2009 compared to 2008 .operating profit declines in civil and intelligence partially were offset by growth in defense .the decrease of $ 29 million in civil 2019s operating profit primarily was attributable to a reduction in the level of favorable performance adjustments on enterprise civilian services programs in 2009 compared to 2008 .the decrease in operating profit of $ 27 million at intelligence mainly was due to a reduction in the level of favorable performance adjustments on security solution activities in 2009 compared to 2008 .the increase in defense 2019s operating profit of $ 29 million mainly was due to volume and improved performance in mission and combat systems .the decrease in backlog during 2010 compared to 2009 mainly was due to higher sales volume on enterprise civilian service programs at civil , including volume associated with the dris 2010 program , and mission and combat system programs at defense .backlog decreased in 2009 compared to 2008 due to u.s .government 2019s exercise of the termination for convenience clause on the tsat mission operations system ( tmos ) contract at defense , which resulted in a $ 1.6 billion reduction in orders .this decline more than offset increased orders on enterprise civilian services programs at civil .we expect is&gs will experience a low single digit percentage decrease in sales for 2011 as compared to 2010 .this decline primarily is due to completion of most of the work associated with the dris 2010 program .operating profit in 2011 is expected to decline in relationship to the decline in sales volume , while operating margins are expected to be comparable between the years .space systems our space systems business segment is engaged in the design , research and development , engineering , and production of satellites , strategic and defensive missile systems , and space transportation systems , including activities related to the planned replacement of the space shuttle .government satellite programs include the advanced extremely high frequency ( aehf ) system , the mobile user objective system ( muos ) , the global positioning satellite iii ( gps iii ) system , the space-based infrared system ( sbirs ) , and the geostationary operational environmental satellite r-series ( goes-r ) .strategic and missile defense programs include the targets and countermeasures program and the fleet ballistic missile program .space transportation includes the nasa orion program and , through ownership interests in two joint ventures , expendable launch services ( united launch alliance , or ula ) and space shuttle processing activities for the u.s .government ( united space alliance , or usa ) .the space shuttle is expected to complete its final flight mission in 2011 and our involvement with its launch and processing activities will end at that time .space systems 2019 operating results included the following : ( in millions ) 2010 2009 2008 .
[['( in millions )', '2010', '2009', '2008'], ['net sales', '$ 8246', '$ 8654', '$ 8027'], ['operating profit', '972', '972', '953'], ['operating margin', '11.8% ( 11.8 % )', '11.2% ( 11.2 % )', '11.9% ( 11.9 % )'], ['backlog at year-end', '17800', '16800', '17900']]
net sales for space systems decreased by 5% ( 5 % ) in 2010 compared to 2009 .sales declined in all three lines of business during the year .the $ 253 million decrease in space transportation principally was due to lower volume on the space shuttle external tank , commercial launch vehicle activity and other human space flight programs , which partially were offset by higher volume on the orion program .there were no commercial launches in 2010 compared to one commercial launch in 2009 .strategic & defensive missile systems ( s&dms ) sales declined $ 147 million principally due to lower volume on defensive missile programs .the $ 8 million sales decline in satellites primarily was attributable to lower volume on commercial satellites , which partially were offset by higher volume on government satellite activities .there was one commercial satellite delivery in 2010 and one commercial satellite delivery in 2009 .net sales for space systems increased 8% ( 8 % ) in 2009 compared to 2008 .during the year , sales growth at satellites and space transportation offset a decline in s&dms .the sales growth of $ 707 million in satellites was due to higher volume in government satellite activities , which partially was offset by lower volume in commercial satellite activities .there was one commercial satellite delivery in 2009 and two deliveries in 2008 .the increase in sales of $ 21 million in space transportation primarily was due to higher volume on the orion program , which more than offset a decline in the space shuttle 2019s external tank program .there was one commercial launch in both 2009 and 2008 .s&dms 2019 sales decreased by $ 102 million mainly due to lower volume on defensive missile programs , which more than offset growth in strategic missile programs. .
|
what were average net sales for space systems in millions from 2008 to 2010?
|
8309
|
{
"answer": "8309",
"decimal": 8309,
"type": "float"
}
| |
the income approach indicates value for an asset or liability based on the present value of cash flow projected to be generated over the remaining economic life of the asset or liability being measured .both the amount and the duration of the cash flows are considered from a market participant perspective .our estimates of market participant net cash flows considered historical and projected pricing , remaining developmental effort , operational performance including company- specific synergies , aftermarket retention , product life cycles , material and labor pricing , and other relevant customer , contractual and market factors .where appropriate , the net cash flows are adjusted to reflect the uncertainties associated with the underlying assumptions , as well as the risk profile of the net cash flows utilized in the valuation .the adjusted future cash flows are then discounted to present value using an appropriate discount rate .projected cash flow is discounted at a required rate of return that reflects the relative risk of achieving the cash flows and the time value of money .the market approach is a valuation technique that uses prices and other relevant information generated by market transactions involving identical or comparable assets , liabilities , or a group of assets and liabilities .valuation techniques consistent with the market approach often use market multiples derived from a set of comparables .the cost approach , which estimates value by determining the current cost of replacing an asset with another of equivalent economic utility , was used , as appropriate , for property , plant and equipment .the cost to replace a given asset reflects the estimated reproduction or replacement cost , less an allowance for loss in value due to depreciation .the purchase price allocation resulted in the recognition of $ 2.8 billion of goodwill , all of which is expected to be amortizable for tax purposes .substantially all of the goodwill was assigned to our rms business .the goodwill recognized is attributable to expected revenue synergies generated by the integration of our products and technologies with those of sikorsky , costs synergies resulting from the consolidation or elimination of certain functions , and intangible assets that do not qualify for separate recognition , such as the assembled workforce of sikorsky .determining the fair value of assets acquired and liabilities assumed requires the exercise of significant judgments , including the amount and timing of expected future cash flows , long-term growth rates and discount rates .the cash flows employed in the dcf analyses are based on our best estimate of future sales , earnings and cash flows after considering factors such as general market conditions , customer budgets , existing firm orders , expected future orders , contracts with suppliers , labor agreements , changes in working capital , long term business plans and recent operating performance .use of different estimates and judgments could yield different results .impact to 2015 financial results sikorsky 2019s 2015 financial results have been included in our consolidated financial results only for the period from the november 6 , 2015 acquisition date through december 31 , 2015 .as a result , our consolidated financial results for the year ended december 31 , 2015 do not reflect a full year of sikorsky 2019s results .from the november 6 , 2015 acquisition date through december 31 , 2015 , sikorsky generated net sales of approximately $ 400 million and operating loss of approximately $ 45 million , inclusive of intangible amortization and adjustments required to account for the acquisition .we incurred approximately $ 38 million of non-recoverable transaction costs associated with the sikorsky acquisition in 2015 that were expensed as incurred .these costs are included in other income , net on our consolidated statements of earnings .we also incurred approximately $ 48 million in costs associated with issuing the $ 7.0 billion november 2015 notes used to repay all outstanding borrowings under the 364-day facility used to finance the acquisition .the financing costs were recorded as a reduction of debt and will be amortized to interest expense over the term of the related debt .supplemental pro forma financial information ( unaudited ) the following table presents summarized unaudited pro forma financial information as if sikorsky had been included in our financial results for the entire years in 2015 and 2014 ( in millions ) : .
[['', '2015', '2014'], ['net sales', '$ 45366', '$ 47369'], ['net earnings', '3534', '3475'], ['basic earnings per common share', '11.39', '10.97'], ['diluted earnings per common share', '11.23', '10.78']]
the unaudited supplemental pro forma financial data above has been calculated after applying our accounting policies and adjusting the historical results of sikorsky with pro forma adjustments , net of tax , that assume the acquisition occurred on january 1 , 2014 .significant pro forma adjustments include the recognition of additional amortization expense related to acquired intangible assets and additional interest expense related to the short-term debt used to finance the acquisition .these .
|
what was the percentage change in net earnings from 2014 to 2015 for the pro forma financials?
|
2%
|
{
"answer": "2%",
"decimal": 0.02,
"type": "percentage"
}
| |
14 .stock compensation plans the following table summarizes stock-based compensation expense recognized in continuing operations in the consolidated statements of income in compensation and benefits ( in millions ) : .
[['years ended december 31', '2009', '2008', '2007'], ['rsus', '$ 124', '$ 132', '$ 109'], ['performance plans', '60', '67', '54'], ['stock options', '21', '24', '22'], ['employee stock purchase plans', '4', '3', '3'], ['total stock-based compensation expense', '209', '226', '188'], ['tax benefit', '68', '82', '64'], ['stock-based compensation expense net of tax', '$ 141', '$ 144', '$ 124']]
during 2009 , the company converted its stock administration system to a new service provider .in connection with this conversion , a reconciliation of the methodologies and estimates utilized was performed , which resulted in a $ 12 million reduction of expense for the year ended december 31 , 2009 .stock awards stock awards , in the form of rsus , are granted to certain employees and consist of both performance-based and service-based rsus .service-based awards generally vest between three and ten years from the date of grant .the fair value of service-based awards is based upon the market price of the underlying common stock at the date of grant .with certain limited exceptions , any break in continuous employment will cause the forfeiture of all unvested awards .compensation expense associated with stock awards is recognized over the service period using the straight-line method .dividend equivalents are paid on certain service-based rsus , based on the initial grant amount .at december 31 , 2009 , 2008 and 2007 , the number of shares available for stock awards is included with options available for grant .performance-based rsus have been granted to certain employees .vesting of these awards is contingent upon meeting various individual , divisional or company-wide performance conditions , including revenue generation or growth in revenue , pretax income or earnings per share over a one- to five-year period .the performance conditions are not considered in the determination of the grant date fair value for these awards .the fair value of performance-based awards is based upon the market price of the underlying common stock at the date of grant .compensation expense is recognized over the performance period , and in certain cases an additional vesting period , based on management 2019s estimate of the number of units expected to vest .compensation expense is adjusted to reflect the actual number of shares paid out at the end of the programs .the payout of shares under these performance-based plans may range from 0-200% ( 0-200 % ) of the number of units granted , based on the plan .dividend equivalents are generally not paid on the performance-based rsus .during 2009 , the company granted approximately 2 million shares in connection with the completion of the 2006 leadership performance plan ( 2018 2018lpp 2019 2019 ) cycle .during 2009 , 2008 and 2007 , the company granted approximately 3.7 million , 4.2 million and 4.3 million restricted shares , respectively , in connection with the company 2019s incentive compensation plans. .
|
what is the highest income from performance plans?
|
67
|
{
"answer": "67",
"decimal": 67,
"type": "float"
}
|
it is the maximum value .
|
n o t e s t o c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( continued ) ace limited and subsidiaries the following table shows changes in the company 2019s restricted stock for the years ended december 31 , 2008 , 2007 , and 2006 : number of restricted stock weighted average grant- date fair value .
[['', 'number of restricted stock', 'weighted average grant- date fair value'], ['unvested restricted stock december 31 2005', '3488668', '$ 41.26'], ['granted', '1632504', '$ 56.05'], ['vested and issued', '-1181249 ( 1181249 )', '$ 40.20'], ['forfeited', '-360734 ( 360734 )', '$ 44.04'], ['unvested restricted stock december 31 2006', '3579189', '$ 48.07'], ['granted', '1818716', '$ 56.45'], ['vested and issued', '-1345412 ( 1345412 )', '$ 44.48'], ['forfeited', '-230786 ( 230786 )', '$ 51.57'], ['unvested restricted stock december 31 2007', '3821707', '$ 53.12'], ['granted', '1836532', '$ 59.84'], ['vested and issued', '-1403826 ( 1403826 )', '$ 50.96'], ['forfeited', '-371183 ( 371183 )', '$ 53.75'], ['unvested restricted stock december 31 2008', '3883230', '$ 57.01']]
under the provisions of fas 123r , the recognition of deferred compensation , a contra-equity account representing the amount of unrecognized restricted stock expense that is reduced as expense is recognized , at the date restricted stock is granted is no longer permitted .therefore , upon adoption of fas 123r , the amount of deferred compensation that had been reflected in unearned stock grant compensation was reclassified to additional paid-in capital in the company 2019s consolidated balance sheet .restricted stock units the company 2019s 2004 ltip also provides for grants of other awards , including restricted stock units .the company generally grants restricted stock units with a 4-year vesting period , based on a graded vesting schedule .each restricted stock unit repre- sents the company 2019s obligation to deliver to the holder one share of common shares upon vesting .during 2008 , the company awarded 223588 restricted stock units to officers of the company and its subsidiaries with a weighted-average grant date fair value of $ 59.93 .during 2007 , 108870 restricted stock units , with a weighted-average grant date fair value of $ 56.29 were awarded to officers of the company and its subsidiaries .during 2006 , 83370 restricted stock units , with a weighted-average grant date fair value of $ 56.36 were awarded to officers of the company and its subsidiaries .the company also grants restricted stock units with a 1-year vesting period to non-management directors .delivery of common shares on account of these restricted stock units to non-management directors is deferred until six months after the date of the non-management directors 2019 termination from the board .during 2008 , 2007 , and 2006 , 40362 restricted stock units , 29676 restricted stock units , and 23092 restricted stock units , respectively , were awarded to non-management direc- the espp gives participating employees the right to purchase common shares through payroll deductions during consecutive 201csubscription periods . 201d annual purchases by participants are limited to the number of whole shares that can be purchased by an amount equal to ten percent of the participant 2019s compensation or $ 25000 , whichever is less .the espp has two six-month subscription periods , the first of which runs between january 1 and june 30 and the second of which runs between july 1 and december 31 of each year .the amounts that have been collected from participants during a subscription period are used on the 201cexercise date 201d to purchase full shares of common shares .an exercise date is generally the last trading day of a sub- scription period .the number of shares purchased is equal to the total amount , as of the exercise date , that has been collected from the participants through payroll deductions for that subscription period , divided by the 201cpurchase price 201d , rounded down to the next full share .effective for and from the second subscription period of 2007 , the purchase price is 85 percent of the fair value of a common share on the exercise date .prior to the second subscription period of 2007 , the purchase price was calculated as the lower of ( i ) 85 percent of the fair value of a common share on the first day of the subscription period , or .
|
what is the net change in the number of unvested restricted stocks in 2007?
|
242518
|
{
"answer": "242518",
"decimal": 242518,
"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. .
|
is the weighted average useful life ( years ) greater for acquired rights to use technology than localization?
|
yes
|
{
"answer": "yes",
"decimal": 1,
"type": "bool"
}
| |
jpmorgan chase & co./2012 annual report 103 2011 compared with 2010 net income was $ 822 million , compared with $ 1.3 billion in the prior year .private equity reported net income of $ 391 million , compared with $ 588 million in the prior year .net revenue was $ 836 million , a decrease of $ 403 million , primarily related to net write-downs on private investments and the absence of prior year gains on sales .noninterest expense was $ 238 million , a decrease of $ 85 million from the prior treasury and cio reported net income of $ 1.3 billion , compared with net income of $ 3.6 billion in the prior year .net revenue was $ 3.2 billion , including $ 1.4 billion of security gains .net interest income in 2011 was lower compared with 2010 , primarily driven by repositioning of the investment securities portfolio and lower funding benefits from financing the portfolio .other corporate reported a net loss of $ 918 million , compared with a net loss of $ 2.9 billion in the prior year .net revenue was $ 103 million , compared with a net loss of $ 467 million in the prior year .noninterest expense was $ 2.9 billion which included $ 3.2 billion of additional litigation reserves , predominantly for mortgage-related matters .noninterest expense in the prior year was $ 5.5 billion which included $ 5.7 billion of additional litigation reserves .treasury and cio overview treasury and cio are predominantly responsible for measuring , monitoring , reporting and managing the firm 2019s liquidity , funding , capital and structural interest rate and foreign exchange risks .the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases , which generate both on- and off- balance sheet assets and liabilities .treasury is responsible for , among other functions , funds transfer pricing .funds transfer pricing is used to transfer structural interest rate risk and foreign exchange risk of the firm to treasury and cio and allocate interest income and expense to each business based on market rates .cio , through its management of the investment portfolio , generates net interest income to pay the lines of business market rates .any variance ( whether positive or negative ) between amounts generated by cio through its investment portfolio activities and amounts paid to or received by the lines of business are retained by cio , and are not reflected in line of business segment results .treasury and cio activities operate in support of the overall firm .cio achieves the firm 2019s asset-liability management objectives generally by investing in high-quality securities that are managed for the longer-term as part of the firm 2019s afs investment portfolio .unrealized gains and losses on securities held in the afs portfolio are recorded in other comprehensive income .for further information about securities in the afs portfolio , see note 3 and note 12 on pages 196 2013214 and 244 2013248 , respectively , of this annual report .cio also uses securities that are not classified within the afs portfolio , as well as derivatives , to meet the firm 2019s asset-liability management objectives .securities not classified within the afs portfolio are recorded in trading assets and liabilities ; realized and unrealized gains and losses on such securities are recorded in the principal transactions revenue line in the consolidated statements of income .for further information about securities included in trading assets and liabilities , see note 3 on pages 196 2013214 of this annual report .derivatives used by cio are also classified as trading assets and liabilities .for further information on derivatives , including the classification of realized and unrealized gains and losses , see note 6 on pages 218 2013227 of this annual report .cio 2019s afs portfolio consists of u.s .and non-u.s .government securities , agency and non-agency mortgage-backed securities , other asset-backed securities and corporate and municipal debt securities .treasury 2019s afs portfolio consists of u.s .and non-u.s .government securities and corporate debt securities .at december 31 , 2012 , the total treasury and cio afs portfolios were $ 344.1 billion and $ 21.3 billion , respectively ; the average credit rating of the securities comprising the treasury and cio afs portfolios was aa+ ( based upon external ratings where available and where not available , based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s ) .see note 12 on pages 244 2013248 of this annual report for further information on the details of the firm 2019s afs portfolio .for further information on liquidity and funding risk , see liquidity risk management on pages 127 2013133 of this annual report .for information on interest rate , foreign exchange and other risks , and cio var and the firm 2019s nontrading interest rate-sensitive revenue at risk , see market risk management on pages 163 2013169 of this annual report .selected income statement and balance sheet data as of or for the year ended december 31 , ( in millions ) 2012 2011 2010 securities gains ( a ) $ 2028 $ 1385 $ 2897 investment securities portfolio ( average ) 358029 330885 323673 investment securities portfolio ( period 2013end ) 365421 355605 310801 .
[['as of or for the year ended december 31 ( in millions )', '2012', '2011', '2010'], ['securities gains ( a )', '$ 2028', '$ 1385', '$ 2897'], ['investment securities portfolio ( average )', '358029', '330885', '323673'], ['investment securities portfolio ( period 2013end )', '365421', '355605', '310801'], ['mortgage loans ( average )', '10241', '13006', '9004'], ['mortgage loans ( period-end )', '7037', '13375', '10739']]
( a ) reflects repositioning of the investment securities portfolio. .
|
what was the private equity bussiness arm's 2011 efficiency ratio?
|
28.47%
|
{
"answer": "28.47%",
"decimal": 0.2847,
"type": "percentage"
}
| |
financial assurance we must provide financial assurance to governmental agencies and a variety of other entities under applicable environmental regulations relating to our landfill operations for capping , closure and post-closure costs , and related to our performance under certain collection , landfill and transfer station contracts .we satisfy these financial assurance requirements by providing surety bonds , letters of credit , or insurance policies ( financial assurance instruments ) , or trust deposits , which are included in restricted cash and marketable securities and other assets in our consolidated balance sheets .the amount of the financial assurance requirements for capping , closure and post-closure costs is determined by applicable state environmental regulations .the financial assurance requirements for capping , closure and post-closure costs may be associated with a portion of the landfill or the entire landfill .generally , states require a third-party engineering specialist to determine the estimated capping , closure and post-closure costs that are used to determine the required amount of financial assurance for a landfill .the amount of financial assurance required can , and generally will , differ from the obligation determined and recorded under u.s .gaap .the amount of the financial assurance requirements related to contract performance varies by contract .additionally , we must provide financial assurance for our insurance program and collateral for certain performance obligations .we do not expect a material increase in financial assurance requirements during 2018 , although the mix of financial assurance instruments may change .these financial assurance instruments are issued in the normal course of business and are not considered indebtedness .because we currently have no liability for the financial assurance instruments , they are not reflected in our consolidated balance sheets ; however , we record capping , closure and post-closure liabilities and insurance liabilities as they are incurred .off-balance sheet arrangements we have no off-balance sheet debt or similar obligations , other than operating leases and financial assurances , which are not classified as debt .we have no transactions or obligations with related parties that are not disclosed , consolidated into or reflected in our reported financial position or results of operations .we have not guaranteed any third-party debt .free cash flow we define free cash flow , which is not a measure determined in accordance with u.s .gaap , as cash provided by operating activities less purchases of property and equipment , plus proceeds from sales of property and equipment , as presented in our consolidated statements of cash flows .the following table calculates our free cash flow for the years ended december 31 , 2017 , 2016 and 2015 ( in millions of dollars ) : .
[['', '2017', '2016', '2015'], ['cash provided by operating activities', '$ 1910.7', '$ 1847.8', '$ 1679.7'], ['purchases of property and equipment', '-989.8 ( 989.8 )', '-927.8 ( 927.8 )', '-945.6 ( 945.6 )'], ['proceeds from sales of property and equipment', '6.1', '9.8', '21.2'], ['free cash flow', '$ 927.0', '$ 929.8', '$ 755.3']]
for a discussion of the changes in the components of free cash flow , see our discussion regarding cash flows provided by operating activities and cash flows used in investing activities contained elsewhere in this management 2019s discussion and analysis of financial condition and results of operations. .
|
what is the percent change in free cash flow from 2015 to 2016
|
23.1%
|
{
"answer": "23.1%",
"decimal": 0.231,
"type": "percentage"
}
|
the percentage change is equal to the difference in the amounts based on the recent and earliest divide by the earliest
|
allows us to repurchase shares at times when we may otherwise be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods .subject to applicable regulations , we may elect to amend or cancel this repurchase program or the share repurchase parameters at our discretion .as of december 31 , 2018 , we have repurchased an aggregate of 4510000 shares of common stock under this program .credit facilities and short-term debt we have an unsecured revolving credit facility of $ 2.25 billion that expires in june 2023 .in march 2018 , awcc and its lenders amended and restated the credit agreement with respect to awcc 2019s revolving credit facility to increase the maximum commitments under the facility from $ 1.75 billion to $ 2.25 billion , and to extend the expiration date of the facility from june 2020 to march 2023 .all other terms , conditions and covenants with respect to the existing facility remained unchanged .subject to satisfying certain conditions , the credit agreement also permits awcc to increase the maximum commitment under the facility by up to an aggregate of $ 500 million , and to request extensions of its expiration date for up to two , one-year periods .interest rates on advances under the facility are based on a credit spread to the libor rate or base rate in accordance with moody investors service 2019s and standard & poor 2019s financial services 2019 then applicable credit rating on awcc 2019s senior unsecured , non-credit enhanced debt .the facility is used principally to support awcc 2019s commercial paper program and to provide up to $ 150 million in letters of credit .indebtedness under the facility is considered 201cdebt 201d for purposes of a support agreement between the company and awcc , which serves as a functional equivalent of a guarantee by the company of awcc 2019s payment obligations under the credit facility .awcc also has an outstanding commercial paper program that is backed by the revolving credit facility , the maximum aggregate outstanding amount of which was increased in march 2018 , from $ 1.60 billion to $ 2.10 billion .the following table provides the aggregate credit facility commitments , letter of credit sub-limit under the revolving credit facility and commercial paper limit , as well as the available capacity for each as of december 31 , 2018 and 2017 : credit facility commitment available credit facility capacity letter of credit sublimit available letter of credit capacity commercial paper limit available commercial capacity ( in millions ) december 31 , 2018 ........$ 2262 $ 2177 $ 150 $ 69 $ 2100 $ 1146 december 31 , 2017 ........1762 1673 150 66 1600 695 the weighted average interest rate on awcc short-term borrowings for the years ended december 31 , 2018 and 2017 was approximately 2.28% ( 2.28 % ) and 1.24% ( 1.24 % ) , respectively .capital structure the following table provides the percentage of our capitalization represented by the components of our capital structure as of december 31: .
[['', '2018', '2017', '2016'], ["total common shareholders' equity", '40.4% ( 40.4 % )', '41.0% ( 41.0 % )', '42.1% ( 42.1 % )'], ['long-term debt and redeemable preferred stock at redemption value', '52.4% ( 52.4 % )', '49.6% ( 49.6 % )', '46.4% ( 46.4 % )'], ['short-term debt and current portion of long-term debt', '7.2% ( 7.2 % )', '9.4% ( 9.4 % )', '11.5% ( 11.5 % )'], ['total', '100% ( 100 % )', '100% ( 100 % )', '100% ( 100 % )']]
.
|
by how much did the short-term debt and current portion of long-term debt portion of the capital structure decrease from 2016 to 2018?
|
-4.3%
|
{
"answer": "-4.3%",
"decimal": -0.043,
"type": "percentage"
}
|
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