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consist of first and second liens , the charge-off amounts for the pool are proportionate to the composition of first and second liens in the pool .our experience has been that the ratio of first to second lien loans has been consistent over time and is appropriately represented in our pools used for roll-rate calculations .generally , our variable-rate home equity lines of credit have either a seven or ten year draw period , followed by a 20 year amortization term .during the draw period , we have home equity lines of credit where borrowers pay interest only and home equity lines of credit where borrowers pay principal and interest .based upon outstanding balances at december 31 , 2012 , the following table presents the periods when home equity lines of credit draw periods are scheduled to end .table 39 : home equity lines of credit 2013 draw period end in millions interest product principal interest product .
[['in millions', 'interestonlyproduct', 'principalandinterestproduct'], ['2013', '$ 1338', '$ 221'], ['2014', '2048', '475'], ['2015', '2024', '654'], ['2016', '1571', '504'], ['2017', '3075', '697'], ['2018 and thereafter', '5497', '4825'], ['total ( a )', '$ 15553', '$ 7376']]
( a ) includes approximately $ 166 million , $ 208 million , $ 213 million , $ 61 million , $ 70 million and $ 526 million of home equity lines of credit with balloon payments with draw periods scheduled to end in 2013 , 2014 , 2015 , 2016 , 2017 and 2018 and thereafter , respectively .we view home equity lines of credit where borrowers are paying principal and interest under the draw period as less risky than those where the borrowers are paying interest only , as these borrowers have a demonstrated ability to make some level of principal and interest payments .based upon outstanding balances , and excluding purchased impaired loans , at december 31 , 2012 , for home equity lines of credit for which the borrower can no longer draw ( e.g. , draw period has ended or borrowing privileges have been terminated ) , approximately 3.86% ( 3.86 % ) were 30-89 days past due and approximately 5.96% ( 5.96 % ) were greater than or equal to 90 days past due .generally , when a borrower becomes 60 days past due , we terminate borrowing privileges , and those privileges are not subsequently reinstated .at that point , we continue our collection/recovery processes , which may include a loss mitigation loan modification resulting in a loan that is classified as a tdr .see note 5 asset quality in the notes to consolidated financial statements in item 8 of this report for additional information .loan modifications and troubled debt restructurings consumer loan modifications we modify loans under government and pnc-developed programs based upon our commitment to help eligible homeowners and borrowers avoid foreclosure , where appropriate .initially , a borrower is evaluated for a modification under a government program .if a borrower does not qualify under a government program , the borrower is then evaluated under a pnc program .our programs utilize both temporary and permanent modifications and typically reduce the interest rate , extend the term and/or defer principal .temporary and permanent modifications under programs involving a change to loan terms are generally classified as tdrs .further , certain payment plans and trial payment arrangements which do not include a contractual change to loan terms may be classified as tdrs .additional detail on tdrs is discussed below as well as in note 5 asset quality in the notes to consolidated financial statements in item 8 of this report .a temporary modification , with a term between three and 60 months , involves a change in original loan terms for a period of time and reverts to a calculated exit rate for the remaining term of the loan as of a specific date .a permanent modification , with a term greater than 60 months , is a modification in which the terms of the original loan are changed .permanent modifications primarily include the government-created home affordable modification program ( hamp ) or pnc-developed hamp-like modification programs .for consumer loan programs , such as residential mortgages and home equity loans and lines , we will enter into a temporary modification when the borrower has indicated a temporary hardship and a willingness to bring current the delinquent loan balance .examples of this situation often include delinquency due to illness or death in the family , or a loss of employment .permanent modifications are entered into when it is confirmed that the borrower does not possess the income necessary to continue making loan payments at the current amount , but our expectation is that payments at lower amounts can be made .residential mortgage and home equity loans and lines have been modified with changes in terms for up to 60 months , although the majority involve periods of three to 24 months .we also monitor the success rates and delinquency status of our loan modification programs to assess their effectiveness in serving our customers 2019 needs while mitigating credit losses .the following tables provide the number of accounts and unpaid principal balance of modified consumer real estate related loans as well as the number of accounts and unpaid principal balance of modified loans that were 60 days or more past due as of six months , nine months , twelve months and fifteen months after the modification date .the pnc financial services group , inc .2013 form 10-k 91 .
|
what was the percent of the total of the interest only products home equity lines of credit draw periods are scheduled to end in 2017
|
19.8%
|
{
"answer": "19.8%",
"decimal": 0.198,
"type": "percentage"
}
| |
item 2 : properties information concerning applied's properties at october 25 , 2015 is set forth below: .
[['( square feet in thousands )', 'united states', 'other countries', 'total'], ['owned', '3748', '1624', '5372'], ['leased', '556', '1107', '1663'], ['total', '4304', '2731', '7035']]
because of the interrelation of applied's operations , properties within a country may be shared by the segments operating within that country .the company's headquarters offices are in santa clara , california .products in silicon systems are manufactured in austin , texas ; gloucester , massachusetts ; rehovot , israel ; and singapore .remanufactured equipment products in the applied global services segment are produced primarily in austin , texas .products in the display segment are manufactured in tainan , taiwan and santa clara , california .products in the energy and environmental solutions segment are primarily manufactured in alzenau , germany and treviso , italy .applied also owns and leases offices , plants and warehouse locations in many locations throughout the world , including in europe , japan , north america ( principally the united states ) , israel , china , india , korea , southeast asia and taiwan .these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and customer support .applied also owns a total of approximately 139 acres of buildable land in texas , california , israel and italy that could accommodate additional building space .applied considers the properties that it owns or leases as adequate to meet its current and future requirements .applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
|
what portion of the company's property are leased?
|
23.6%
|
{
"answer": "23.6%",
"decimal": 0.23600000000000002,
"type": "percentage"
}
| |
table of content part ii item 5 .market for the registrant's common equity , related stockholder matters and issuer purchases of equity securities our common stock is traded on the new york stock exchange under the trading symbol 201chfc . 201d in september 2018 , our board of directors approved a $ 1 billion share repurchase program , which replaced all existing share repurchase programs , authorizing us to repurchase common stock in the open market or through privately negotiated transactions .the timing and amount of stock repurchases will depend on market conditions and corporate , regulatory and other relevant considerations .this program may be discontinued at any time by the board of directors .the following table includes repurchases made under this program during the fourth quarter of 2018 .period total number of shares purchased average price paid per share total number of shares purchased as part of publicly announced plans or programs maximum dollar value of shares that may yet be purchased under the plans or programs .
[['period', 'total number ofshares purchased', 'average pricepaid per share', 'total number ofshares purchasedas part of publicly announced plans or programs', 'maximum dollarvalue of sharesthat may yet bepurchased under the plans or programs'], ['october 2018', '1360987', '$ 66.34', '1360987', '$ 859039458'], ['november 2018', '450000', '$ 61.36', '450000', '$ 831427985'], ['december 2018', '912360', '$ 53.93', '810000', '$ 787613605'], ['total for october to december 2018', '2723347', '', '2620987', '']]
during the quarter ended december 31 , 2018 , 102360 shares were withheld from certain executives and employees under the terms of our share-based compensation agreements to provide funds for the payment of payroll and income taxes due at vesting of restricted stock awards .as of february 13 , 2019 , we had approximately 97419 stockholders , including beneficial owners holding shares in street name .we intend to consider the declaration of a dividend on a quarterly basis , although there is no assurance as to future dividends since they are dependent upon future earnings , capital requirements , our financial condition and other factors. .
|
for the quarter ended december 31 , 2018 what was the percent of shares withheld to provide funds for the payment of payroll and income taxes in december
|
3.75%
|
{
"answer": "3.75%",
"decimal": 0.0375,
"type": "percentage"
}
| |
consolidated income statement review our consolidated income statement is presented in item 8 of this report .net income for 2012 was $ 3.0 billion compared with $ 3.1 billion for 2011 .revenue growth of 8 percent and a decline in the provision for credit losses were more than offset by a 16 percent increase in noninterest expense in 2012 compared to 2011 .further detail is included in the net interest income , noninterest income , provision for credit losses and noninterest expense portions of this consolidated income statement review .net interest income table 2 : net interest income and net interest margin year ended december 31 dollars in millions 2012 2011 .
[['year ended december 31dollars in millions', '2012', '2011'], ['net interest income', '$ 9640', '$ 8700'], ['net interest margin', '3.94% ( 3.94 % )', '3.92% ( 3.92 % )']]
changes in net interest income and margin result from the interaction of the volume and composition of interest-earning assets and related yields , interest-bearing liabilities and related rates paid , and noninterest-bearing sources of funding .see the statistical information ( unaudited ) 2013 average consolidated balance sheet and net interest analysis and analysis of year-to-year changes in net interest income in item 8 of this report and the discussion of purchase accounting accretion of purchased impaired loans in the consolidated balance sheet review in this item 7 for additional information .the increase in net interest income in 2012 compared with 2011 was primarily due to the impact of the rbc bank ( usa ) acquisition , organic loan growth and lower funding costs .purchase accounting accretion remained stable at $ 1.1 billion in both periods .the net interest margin was 3.94% ( 3.94 % ) for 2012 and 3.92% ( 3.92 % ) for 2011 .the increase in the comparison was primarily due to a decrease in the weighted-average rate accrued on total interest- bearing liabilities of 29 basis points , largely offset by a 21 basis point decrease on the yield on total interest-earning assets .the decrease in the rate on interest-bearing liabilities was primarily due to the runoff of maturing retail certificates of deposit and the redemption of additional trust preferred and hybrid capital securities during 2012 , in addition to an increase in fhlb borrowings and commercial paper as lower-cost funding sources .the decrease in the yield on interest-earning assets was primarily due to lower rates on new loan volume and lower yields on new securities in the current low rate environment .with respect to the first quarter of 2013 , we expect net interest income to decline by two to three percent compared to fourth quarter 2012 net interest income of $ 2.4 billion , due to a decrease in purchase accounting accretion of up to $ 50 to $ 60 million , including lower expected cash recoveries .for the full year 2013 , we expect net interest income to decrease compared with 2012 , assuming an expected decline in purchase accounting accretion of approximately $ 400 million , while core net interest income is expected to increase in the year-over-year comparison .we believe our net interest margin will come under pressure in 2013 , due to the expected decline in purchase accounting accretion and assuming that the current low rate environment continues .noninterest income noninterest income totaled $ 5.9 billion for 2012 and $ 5.6 billion for 2011 .the overall increase in the comparison was primarily due to an increase in residential mortgage loan sales revenue driven by higher loan origination volume , gains on sales of visa class b common shares and higher corporate service fees , largely offset by higher provision for residential mortgage repurchase obligations .asset management revenue , including blackrock , totaled $ 1.2 billion in 2012 compared with $ 1.1 billion in 2011 .this increase was primarily due to higher earnings from our blackrock investment .discretionary assets under management increased to $ 112 billion at december 31 , 2012 compared with $ 107 billion at december 31 , 2011 driven by stronger average equity markets , positive net flows and strong sales performance .for 2012 , consumer services fees were $ 1.1 billion compared with $ 1.2 billion in 2011 .the decline reflected the regulatory impact of lower interchange fees on debit card transactions partially offset by customer growth .as further discussed in the retail banking portion of the business segments review section of this item 7 , the dodd-frank limits on interchange rates were effective october 1 , 2011 and had a negative impact on revenue of approximately $ 314 million in 2012 and $ 75 million in 2011 .this impact was partially offset by higher volumes of merchant , customer credit card and debit card transactions and the impact of the rbc bank ( usa ) acquisition .corporate services revenue increased by $ .3 billion , or 30 percent , to $ 1.2 billion in 2012 compared with $ .9 billion in 2011 due to higher commercial mortgage servicing revenue and higher merger and acquisition advisory fees in 2012 .the major components of corporate services revenue are treasury management revenue , corporate finance fees , including revenue from capital markets-related products and services , and commercial mortgage servicing revenue , including commercial mortgage banking activities .see the product revenue portion of this consolidated income statement review for further detail .the pnc financial services group , inc .2013 form 10-k 39 .
|
what was the two year average for net interest income , in millions?
|
9170
|
{
"answer": "9170",
"decimal": 9170,
"type": "float"
}
| |
interest expense related to capital lease obligations was $ 1.7 million during both the years ended december 31 , 2013 and 2012 , and $ 1.5 million during the year ended december 31 , 2011 .purchase commitments in the table below , we set forth our enforceable and legally binding purchase obligations as of december 31 , 2013 .some of the amounts included in the table 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 from the table 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 to 15 years .total purchase commitments are as follows ( dollars in thousands ) : .
[['2014', '$ 120971'], ['2015', '54757'], ['2016', '14840'], ['2017', '3017'], ['2018', '2545'], ['thereafter', '11536'], ['total', '$ 207666']]
the company purchased a total of $ 61.7 million , $ 27.7 million , and $ 28.5 million during the years ended december 31 , 2013 , 2012 , and 2011 , respectively , under these purchase agreements .the increase in purchase commitments 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 1994 through 2013 , remediation costs at the company 2019s mills and corrugated plants totaled approximately $ 3.2 million .at december 31 , 2013 , the company had $ 34.1 million of environmental-related reserves recorded on its consolidated balance sheet .of the $ 34.1 million , approximately $ 26.5 million related to environmental- related asset retirement obligations discussed in note 14 , asset retirement obligations , and $ 7.6 million related to our estimate of other environmental contingencies .the company recorded $ 7.8 million in 201caccrued liabilities 201d and $ 26.3 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 .as of the date of this filing , the company believes that it is not reasonably possible that future environmental expenditures for remediation costs and asset retirement obligations above the $ 34.1 million accrued as of december 31 , 2013 , 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 , 2013 , 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. .
|
in 2015 what was the percent of the purchase commitments of the total purchase commitments
|
26.4%
|
{
"answer": "26.4%",
"decimal": 0.264,
"type": "percentage"
}
|
in 2015 the percent of the purchase commitments of the total purchase commitments was 26.4%
|
notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d .1 .nature of operations operations and segmentation 2013 we are a class i railroad that operates in the u.s .our network includes 31898 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s .gateways and providing several corridors to key mexican gateways .we own 26027 miles and operate on the remainder pursuant to trackage rights or leases .we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico .export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders .the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment .although revenue is analyzed by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network .the following table provides freight revenue by commodity group : millions 2011 2010 2009 .
[['millions', '2011', '2010', '2009'], ['agricultural', '$ 3324', '$ 3018', '$ 2666'], ['automotive', '1510', '1271', '854'], ['chemicals', '2815', '2425', '2102'], ['energy', '4084', '3489', '3118'], ['industrial products', '3166', '2639', '2147'], ['intermodal', '3609', '3227', '2486'], ['total freight revenues', '$ 18508', '$ 16069', '$ 13373'], ['other revenues', '1049', '896', '770'], ['total operatingrevenues', '$ 19557', '$ 16965', '$ 14143']]
although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported by us are outside the u.s .basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s .( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .certain prior year amounts have been disaggregated to provide more detail and conform to the current period financial statement presentation .2 .significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries .investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting .all intercompany transactions are eliminated .we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements .cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less .accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts .the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions .receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position. .
|
using a three year average , the industrial products was what percent of total revenue?
|
16.6%
|
{
"answer": "16.6%",
"decimal": 0.166,
"type": "percentage"
}
| |
jpmorgan chase & co./2009 annual report 181 the following table shows the current credit risk of derivative receivables after netting adjustments , and the current liquidity risk of derivative payables after netting adjustments , as of december 31 , 2009. .
[['december 31 2009 ( in millions )', 'derivative receivables', 'derivative payables'], ['gross derivative fair value', '$ 1565518', '$ 1519183'], ['nettingadjustment 2013 offsetting receivables/payables', '-1419840 ( 1419840 )', '-1419840 ( 1419840 )'], ['nettingadjustment 2013 cash collateral received/paid', '-65468 ( 65468 )', '-39218 ( 39218 )'], ['carrying value on consolidated balance sheets', '$ 80210', '$ 60125']]
in addition to the collateral amounts reflected in the table above , at december 31 , 2009 , the firm had received and posted liquid secu- rities collateral in the amount of $ 15.5 billion and $ 11.7 billion , respectively .the firm also receives and delivers collateral at the initiation of derivative transactions , which is available as security against potential exposure that could arise should the fair value of the transactions move in the firm 2019s or client 2019s favor , respectively .furthermore , the firm and its counterparties hold collateral related to contracts that have a non-daily call frequency for collateral to be posted , and collateral that the firm or a counterparty has agreed to return but has not yet settled as of the reporting date .at december 31 , 2009 , the firm had received $ 16.9 billion and delivered $ 5.8 billion of such additional collateral .these amounts were not netted against the derivative receivables and payables in the table above , because , at an individual counterparty level , the collateral exceeded the fair value exposure at december 31 , 2009 .credit derivatives credit derivatives are financial instruments whose value is derived from the credit risk associated with the debt of a third-party issuer ( the reference entity ) and which allow one party ( the protection purchaser ) to transfer that risk to another party ( the protection seller ) .credit derivatives expose the protection purchaser to the creditworthiness of the protection seller , as the protection seller is required to make payments under the contract when the reference entity experiences a credit event , such as a bankruptcy , a failure to pay its obligation or a restructuring .the seller of credit protection receives a premium for providing protection but has the risk that the underlying instrument referenced in the contract will be subject to a credit event .the firm is both a purchaser and seller of protection in the credit derivatives market and uses these derivatives for two primary purposes .first , in its capacity as a market-maker in the dealer/client business , the firm actively risk manages a portfolio of credit derivatives by purchasing and selling credit protection , pre- dominantly on corporate debt obligations , to meet the needs of customers .as a seller of protection , the firm 2019s exposure to a given reference entity may be offset partially , or entirely , with a contract to purchase protection from another counterparty on the same or similar reference entity .second , the firm uses credit derivatives to mitigate credit risk associated with its overall derivative receivables and traditional commercial credit lending exposures ( loans and unfunded commitments ) as well as to manage its exposure to residential and commercial mortgages .see note 3 on pages 156--- 173 of this annual report for further information on the firm 2019s mortgage-related exposures .in accomplishing the above , the firm uses different types of credit derivatives .following is a summary of various types of credit derivatives .credit default swaps credit derivatives may reference the credit of either a single refer- ence entity ( 201csingle-name 201d ) or a broad-based index , as described further below .the firm purchases and sells protection on both single- name and index-reference obligations .single-name cds and index cds contracts are both otc derivative contracts .single- name cds are used to manage the default risk of a single reference entity , while cds index are used to manage credit risk associated with the broader credit markets or credit market segments .like the s&p 500 and other market indices , a cds index is comprised of a portfolio of cds across many reference entities .new series of cds indices are established approximately every six months with a new underlying portfolio of reference entities to reflect changes in the credit markets .if one of the reference entities in the index experi- ences a credit event , then the reference entity that defaulted is removed from the index .cds can also be referenced against spe- cific portfolios of reference names or against customized exposure levels based on specific client demands : for example , to provide protection against the first $ 1 million of realized credit losses in a $ 10 million portfolio of exposure .such structures are commonly known as tranche cds .for both single-name cds contracts and index cds , upon the occurrence of a credit event , under the terms of a cds contract neither party to the cds contract has recourse to the reference entity .the protection purchaser has recourse to the protection seller for the difference between the face value of the cds contract and the fair value of the reference obligation at the time of settling the credit derivative contract , also known as the recovery value .the protection purchaser does not need to hold the debt instrument of the underlying reference entity in order to receive amounts due under the cds contract when a credit event occurs .credit-linked notes a credit linked note ( 201ccln 201d ) is a funded credit derivative where the issuer of the cln purchases credit protection on a referenced entity from the note investor .under the contract , the investor pays the issuer par value of the note at the inception of the transaction , and in return , the issuer pays periodic payments to the investor , based on the credit risk of the referenced entity .the issuer also repays the investor the par value of the note at maturity unless the reference entity experiences a specified credit event .in that event , the issuer is not obligated to repay the par value of the note , but rather , the issuer pays the investor the difference between the par value of the note .
|
what is the netting adjustment of the additional collateral in 2009 , in millions of dollars?
|
11.1
|
{
"answer": "11.1",
"decimal": 11.1,
"type": "float"
}
|
its the difference between the collateral received and delivered .
|
related employer payroll tax costs ) .the contributions of these amounts are due by march 15 of the calendar year following the year in which the company realizes the benefits of the deductions .this arrangement has been accounted for as contingent consideration .pre-2009 business combinations were accounted for under a former accounting standard which , among other aspects , precluded the recognition of certain contingent consideration as of the business combination date .instead , under the former accounting standard , contingent consideration is accounted for as additional purchase price ( goodwill ) at the time the contingency is resolved .as of december 31 , 2013 , the company accrued $ 20.9 million related to this arrangement within other current liabilities , as the company realized the tax benefit of the compensation deductions during the 2013 tax year .the company made the related cash contribution during the first quarter of 2014 .11 .earnings per share the numerator for both basic and diluted earnings per share is net income .the denominator for basic earnings per share is the weighted-average number of common shares outstanding during the period .the 2013 denominator was impacted by the common shares issued during both the ipo and the underwriters' exercise in full of the overallotment option granted to them in connection with the ipo .because such common shares were issued on july 2 , 2013 and july 31 , 2013 , respectively , they are only partially reflected in the 2013 denominator .such shares are fully reflected in the 2014 denominator .see note 9 for additional discussion of the ipo .the dilutive effect of outstanding restricted stock , restricted stock units , stock options , coworker stock purchase plan units and mpk plan units is reflected in the denominator for diluted earnings per share using the treasury stock method .the following is a reconciliation of basic shares to diluted shares: .
[['( in millions )', 'years ended december 31 , 2014', 'years ended december 31 , 2013', 'years ended december 31 , 2012'], ['weighted-average shares - basic', '170.6', '156.6', '145.1'], ['effect of dilutive securities', '2.2', '2.1', '0.7'], ['weighted-average shares - diluted', '172.8', '158.7', '145.8']]
there was an insignificant amount of potential common shares excluded from diluted earnings per share for the years ended december 31 , 2014 , 2013 and 2012 , as their inclusion would have had an anti-dilutive effect .12 .deferred compensation plan on march 10 , 2010 , in connection with the company 2019s purchase of $ 28.5 million principal amount of its outstanding senior subordinated debt , the company established the restricted debt unit plan ( the 201crdu plan 201d ) , an unfunded nonqualified deferred compensation plan .the total number of rdus that could be granted under the rdu plan was 28500 .as of december 31 , 2014 , 28500 rdus were outstanding .rdus vested daily on a pro rata basis over the three-year period from january 1 , 2012 ( or , if later , the date of hire or the date of a subsequent rdu grant ) through december 31 , 2014 .all outstanding rdus were vested as of december 31 , 2014 .participants have no rights to the underlying debt .the total amount of compensation available to be paid under the rdu plan was initially to be based on two components , a principal component and an interest component .the principal component credits the rdu plan with a notional amount equal to the $ 28.5 million face value of the senior subordinated notes ( the "debt pool" ) , together with certain redemption premium equivalents as noted below .the interest component credited the rdu plan with amounts equal to the interest that would have been earned on the debt pool from march 10 , 2010 through maturity on october 12 , 2017 , except as discussed below .interest amounts for 2010 and 2011 were deferred until 2012 , and thereafter , interest amounts were paid to participants semi-annually on the interest payment due dates .the company used a portion of the ipo proceeds together with incremental borrowings to redeem $ 324.0 million of the total senior subordinated notes outstanding on august 1 , 2013 .in connection with the ipo and the partial redemption of the senior subordinated notes , the company amended the rdu plan to increase the retentive value of the plan .in accordance with the original terms of the rdu plan , the principal component of the rdus converted to a cash-denominated pool upon the redemption of the senior subordinated notes .in addition , the company added $ 0.1 table of contents cdw corporation and subsidiaries notes to consolidated financial statements .
|
what was the average , in millions , of weighted-average diluted shares from 2012-2014?
|
158.8
|
{
"answer": "158.8",
"decimal": 158.8,
"type": "float"
}
| |
contributions and future benefit payments we expect to make contributions of $ 28.1 million to our defined benefit , other postretirement , and postemployment benefits plans in fiscal 2009 .actual 2009 contributions could exceed our current projections , as influenced by our decision to undertake discretionary funding of our benefit trusts versus other competing investment priorities and future changes in government requirements .estimated benefit payments , which reflect expected future service , as appropriate , are expected to be paid from fiscal 2009-2018 as follows : in millions defined benefit pension postretirement benefit plans gross payments medicare subsidy receipts postemployment benefit ......................................................................................................................................................................................... .
[['in millions', 'defined benefit pension plans', 'other postretirement benefit plans gross payments', 'medicare subsidy receipts', 'postemployment benefit plans'], ['2009', '$ 176.3', '$ 56.0', '$ -6.1 ( 6.1 )', '$ 16.6'], ['2010', '182.5', '59.9', '-6.7 ( 6.7 )', '17.5'], ['2011', '189.8', '63.3', '-7.3 ( 7.3 )', '18.1'], ['2012', '197.5', '67.0', '-8.0 ( 8.0 )', '18.8'], ['2013', '206.6', '71.7', '-8.7 ( 8.7 )', '19.4'], ['2014 2013 2018', '1187.3', '406.8', '-55.3 ( 55.3 )', '106.3']]
defined contribution plans the general mills savings plan is a defined contribution plan that covers salaried and nonunion employees .it had net assets of $ 2309.9 million as of may 25 , 2008 and $ 2303.0 million as of may 27 , 2007.this plan is a 401 ( k ) savings plan that includes a number of investment funds and an employee stock ownership plan ( esop ) .we sponsor another savings plan for certain hourly employees with net assets of $ 16.0 million as of may 25 , 2008 .our total recognized expense related to defined contribution plans was $ 61.9 million in fiscal 2008 , $ 48.3 million in fiscal 2007 , and $ 45.5 million in fiscal 2006 .the esop originally purchased our common stock principally with funds borrowed from third parties and guaranteed by us.the esop shares are included in net shares outstanding for the purposes of calculating eps .the esop 2019s third-party debt was repaid on june 30 , 2007 .the esop 2019s only assets are our common stock and temporary cash balances.the esop 2019s share of the total defined contribution expense was $ 52.3 million in fiscal 2008 , $ 40.1 million in fiscal 2007 , and $ 37.6 million in fiscal 2006 .the esop 2019s expensewas calculated by the 201cshares allocated 201dmethod .the esop used our common stock to convey benefits to employees and , through increased stock ownership , to further align employee interests with those of stockholders.wematched a percentage of employee contributions to the general mills savings plan with a base match plus a variable year end match that depended on annual results .employees received our match in the form of common stock .our cash contribution to the esop was calculated so as to pay off enough debt to release sufficient shares to make our match .the esop used our cash contributions to the plan , plus the dividends received on the esop 2019s leveraged shares , to make principal and interest payments on the esop 2019s debt .as loan payments were made , shares became unencumbered by debt and were committed to be allocated .the esop allocated shares to individual employee accounts on the basis of the match of employee payroll savings ( contributions ) , plus reinvested dividends received on previously allocated shares .the esop incurred net interest of less than $ 1.0 million in each of fiscal 2007 and 2006 .the esop used dividends of $ 2.5 million in fiscal 2007 and $ 3.9 million in 2006 , along with our contributions of less than $ 1.0 million in each of fiscal 2007 and 2006 to make interest and principal payments .the number of shares of our common stock allocated to participants in the esop was 5.2 million as of may 25 , 2008 , and 5.4 million as of may 27 , 2007 .annual report 2008 81 .
|
what was the average total recognized expense related to defined contribution plans from 2006 to 2008
|
51.7
|
{
"answer": "51.7",
"decimal": 51.7,
"type": "float"
}
| |
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 total pension cost , in millions , from 2004-2006?
|
38.9
|
{
"answer": "38.9",
"decimal": 38.9,
"type": "float"
}
| |
item 1 .business cna financial corporation ( continued ) and possible regulatory limitations , impositions and restrictions arising from the emergency economic stabilization act of 2008 .properties : the 333 s .wabash avenue building , located in chicago , illinois and owned by ccc , a wholly owned subsidiary of cna , serves as the home office for cna and its insurance subsidiaries .cna owns or leases office space in various cities throughout the united states and in other countries .the following table sets forth certain information with respect to the principal office buildings owned or leased by cna : location ( square feet ) principal usage 333 s .wabash avenue 803728 principal executive offices of cna chicago , illinois 401 penn street 171318 property and casualty insurance offices reading , pennsylvania 2405 lucien way 121959 property and casualty insurance offices maitland , florida 40 wall street 107927 property and casualty insurance offices new york , new york 1100 ward avenue 104478 property and casualty insurance offices honolulu , hawaii 101 s .phillips avenue 83616 property and casualty insurance offices sioux falls , south dakota 600 n .pearl street 70790 property and casualty insurance offices dallas , texas 675 placentia avenue 63538 property and casualty insurance offices brea , california 1249 s .river road 56100 property and casualty insurance offices cranbury , new jersey 4267 meridian parkway 46903 data center aurora , illinois cna leases its office space described above except for the chicago , illinois building , the reading , pennsylvania building , and the aurora , illinois building , which are owned .diamond offshore drilling , inc .diamond offshore drilling , inc .( 201cdiamond offshore 201d ) , is engaged , through its subsidiaries , in the business of owning and operating drilling rigs that are used in the drilling of offshore oil and gas wells on a contract basis for companies engaged in exploration and production of hydrocarbons .diamond offshore owns 47 offshore rigs .diamond offshore accounted for 25.9% ( 25.9 % ) , 26.3% ( 26.3 % ) and 18.3% ( 18.3 % ) of our consolidated total revenue for the years ended december 31 , 2009 , 2008 and 2007 .diamond offshore owns and operates 32 semisubmersible rigs , consisting of 13 high specification and 19 intermediate rigs .semisubmersible rigs consist of an upper working and living deck resting on vertical columns connected to lower hull members .such rigs operate in a 201csemi-submerged 201d position , remaining afloat , off bottom , in a position in which the lower hull is approximately 55 feet to 90 feet below the water line and the upper deck protrudes well above the surface .semisubmersible rigs are typically anchored in position and remain stable for drilling in the semi-submerged floating position due in part to their wave transparency characteristics at the water line .semisubmersible rigs can also be held in position through the use of a computer controlled thruster ( 201cdynamic-positioning 201d ) system to maintain the rig 2019s position over a drillsite .five semisubmersible rigs in diamond offshore 2019s fleet have this capability .diamond offshore 2019s high specification semisubmersible rigs are generally capable of working in water depths of 4000 feet or greater or in harsh environments and have other advanced features , as compared to intermediate semisubmersible rigs .as of january 25 , 2010 , seven of the 13 high specification semisubmersible rigs , including the recently acquired ocean courage , were located in the u.s .gulf of mexico ( 201cgom 201d ) .at that date diamond offshore had two high specification semisubmersible rigs operating offshore brazil , while a third was en route to brazil from the gom .of .
[['location', 'size ( square feet )', 'principal usage'], ['333 s . wabash avenue chicago illinois', '803728', 'principal executive offices of cna'], ['401 penn street reading pennsylvania', '171318', 'property and casualty insurance offices'], ['2405 lucien way maitland florida', '121959', 'property and casualty insurance offices'], ['40 wall street new york new york', '107927', 'property and casualty insurance offices'], ['1100 ward avenue honolulu hawaii', '104478', 'property and casualty insurance offices'], ['101 s . phillips avenue sioux falls south dakota', '83616', 'property and casualty insurance offices'], ['600 n . pearl street dallas texas', '70790', 'property and casualty insurance offices'], ['675 placentia avenue brea california', '63538', 'property and casualty insurance offices'], ['1249 s . river road cranbury new jersey', '56100', 'property and casualty insurance offices'], ['4267 meridian parkway aurora illinois', '46903', 'data center']]
item 1 .business cna financial corporation ( continued ) and possible regulatory limitations , impositions and restrictions arising from the emergency economic stabilization act of 2008 .properties : the 333 s .wabash avenue building , located in chicago , illinois and owned by ccc , a wholly owned subsidiary of cna , serves as the home office for cna and its insurance subsidiaries .cna owns or leases office space in various cities throughout the united states and in other countries .the following table sets forth certain information with respect to the principal office buildings owned or leased by cna : location ( square feet ) principal usage 333 s .wabash avenue 803728 principal executive offices of cna chicago , illinois 401 penn street 171318 property and casualty insurance offices reading , pennsylvania 2405 lucien way 121959 property and casualty insurance offices maitland , florida 40 wall street 107927 property and casualty insurance offices new york , new york 1100 ward avenue 104478 property and casualty insurance offices honolulu , hawaii 101 s .phillips avenue 83616 property and casualty insurance offices sioux falls , south dakota 600 n .pearl street 70790 property and casualty insurance offices dallas , texas 675 placentia avenue 63538 property and casualty insurance offices brea , california 1249 s .river road 56100 property and casualty insurance offices cranbury , new jersey 4267 meridian parkway 46903 data center aurora , illinois cna leases its office space described above except for the chicago , illinois building , the reading , pennsylvania building , and the aurora , illinois building , which are owned .diamond offshore drilling , inc .diamond offshore drilling , inc .( 201cdiamond offshore 201d ) , is engaged , through its subsidiaries , in the business of owning and operating drilling rigs that are used in the drilling of offshore oil and gas wells on a contract basis for companies engaged in exploration and production of hydrocarbons .diamond offshore owns 47 offshore rigs .diamond offshore accounted for 25.9% ( 25.9 % ) , 26.3% ( 26.3 % ) and 18.3% ( 18.3 % ) of our consolidated total revenue for the years ended december 31 , 2009 , 2008 and 2007 .diamond offshore owns and operates 32 semisubmersible rigs , consisting of 13 high specification and 19 intermediate rigs .semisubmersible rigs consist of an upper working and living deck resting on vertical columns connected to lower hull members .such rigs operate in a 201csemi-submerged 201d position , remaining afloat , off bottom , in a position in which the lower hull is approximately 55 feet to 90 feet below the water line and the upper deck protrudes well above the surface .semisubmersible rigs are typically anchored in position and remain stable for drilling in the semi-submerged floating position due in part to their wave transparency characteristics at the water line .semisubmersible rigs can also be held in position through the use of a computer controlled thruster ( 201cdynamic-positioning 201d ) system to maintain the rig 2019s position over a drillsite .five semisubmersible rigs in diamond offshore 2019s fleet have this capability .diamond offshore 2019s high specification semisubmersible rigs are generally capable of working in water depths of 4000 feet or greater or in harsh environments and have other advanced features , as compared to intermediate semisubmersible rigs .as of january 25 , 2010 , seven of the 13 high specification semisubmersible rigs , including the recently acquired ocean courage , were located in the u.s .gulf of mexico ( 201cgom 201d ) .at that date diamond offshore had two high specification semisubmersible rigs operating offshore brazil , while a third was en route to brazil from the gom .of .
|
what is diamond offshore's total rig count?
|
79
|
{
"answer": "79",
"decimal": 79,
"type": "float"
}
| |
development of prior year incurred losses was $ 135.6 million unfavorable in 2006 , $ 26.4 million favorable in 2005 and $ 249.4 million unfavorable in 2004 .such losses were the result of the reserve development noted above , as well as inher- ent uncertainty in establishing loss and lae reserves .reserves for asbestos and environmental losses and loss adjustment expenses as of year end 2006 , 7.4% ( 7.4 % ) of reserves reflect an estimate for the company 2019s ultimate liability for a&e claims for which ulti- mate value cannot be estimated using traditional reserving techniques .the company 2019s a&e liabilities stem from mt .mckinley 2019s direct insurance business and everest re 2019s assumed reinsurance business .there are significant uncertainties in estimating the amount of the company 2019s potential losses from a&e claims .see item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014asbestos and environmental exposures 201d and note 3 of notes to consolidated financial statements .mt .mckinley 2019s book of direct a&e exposed insurance is relatively small and homogenous .it also arises from a limited period , effective 1978 to 1984 .the book is based principally on excess liability policies , thereby limiting exposure analysis to a lim- ited number of policies and forms .as a result of this focused structure , the company believes that it is able to comprehen- sively analyze its exposures , allowing it to identify , analyze and actively monitor those claims which have unusual exposure , including policies in which it may be exposed to pay expenses in addition to policy limits or non-products asbestos claims .the company endeavors to be actively engaged with every insured account posing significant potential asbestos exposure to mt .mckinley .such engagement can take the form of pursuing a final settlement , negotiation , litigation , or the monitoring of claim activity under settlement in place ( 201csip 201d ) agreements .sip agreements generally condition an insurer 2019s payment upon the actual claim experience of the insured and may have annual payment caps or other measures to control the insurer 2019s payments .the company 2019s mt .mckinley operation is currently managing eight sip agreements , three of which were executed prior to the acquisition of mt .mckinley in 2000 .the company 2019s preference with respect to coverage settlements is to exe- cute settlements that call for a fixed schedule of payments , because such settlements eliminate future uncertainty .the company has significantly enhanced its classification of insureds by exposure characteristics over time , as well as its analysis by insured for those it considers to be more exposed or active .those insureds identified as relatively less exposed or active are subject to less rigorous , but still active management , with an emphasis on monitoring those characteristics , which may indicate an increasing exposure or levels of activity .the company continually focuses on further enhancement of the detailed estimation processes used to evaluate potential exposure of policyholders , including those that may not have reported significant a&e losses .everest re 2019s book of assumed reinsurance is relatively concentrated within a modest number of a&e exposed relationships .it also arises from a limited period , effectively 1977 to 1984 .because the book of business is relatively concentrated and the company has been managing the a&e exposures for many years , its claim staff is familiar with the ceding companies that have generated most of these liabilities in the past and which are therefore most likely to generate future liabilities .the company 2019s claim staff has developed familiarity both with the nature of the business written by its ceding companies and the claims handling and reserving practices of those companies .this level of familiarity enhances the quality of the company 2019s analysis of its exposure through those companies .as a result , the company believes that it can identify those claims on which it has unusual exposure , such as non-products asbestos claims , for concentrated attention .however , in setting reserves for its reinsurance liabilities , the company relies on claims data supplied , both formally and informally by its ceding companies and brokers .this furnished information is not always timely or accurate and can impact the accuracy and timeli- ness of the company 2019s ultimate loss projections .the following table summarizes the composition of the company 2019s total reserves for a&e losses , gross and net of reinsurance , for the years ended december 31: .
[['( dollars in millions )', '2006', '2005', '2004'], ['case reserves reported by ceding companies', '$ 135.6', '$ 125.2', '$ 148.5'], ['additional case reserves established by the company ( assumed reinsurance ) ( 1 )', '152.1', '157.6', '151.3'], ['case reserves established by the company ( direct insurance )', '213.7', '243.5', '272.1'], ['incurred but not reported reserves', '148.7', '123.3', '156.4'], ['gross reserves', '650.1', '649.6', '728.3'], ['reinsurance receivable', '-138.7 ( 138.7 )', '-199.1 ( 199.1 )', '-221.6 ( 221.6 )'], ['net reserves', '$ 511.4', '$ 450.5', '$ 506.7']]
( 1 ) additional reserves are case specific reserves determined by the company to be needed over and above those reported by the ceding company .81790fin_a 4/13/07 11:08 am page 15 .
|
what is the average gross reserves from 2004 to 2006 in millions
|
676
|
{
"answer": "676",
"decimal": 676,
"type": "float"
}
| |
united parcel service , inc .and subsidiaries management's discussion and analysis of financial condition and results of operations issuances of debt in 2014 and 2013 consisted primarily of longer-maturity commercial paper .issuances of debt in 2012 consisted primarily of senior fixed rate note offerings totaling $ 1.75 billion .repayments of debt in 2014 and 2013 consisted primarily of the maturity of our $ 1.0 and $ 1.75 billion senior fixed rate notes that matured in april 2014 and january 2013 , respectively .the remaining repayments of debt during the 2012 through 2014 time period included paydowns of commercial paper and scheduled principal payments on our capitalized lease obligations .we consider the overall fixed and floating interest rate mix of our portfolio and the related overall cost of borrowing when planning for future issuances and non-scheduled repayments of debt .we had $ 772 million of commercial paper outstanding at december 31 , 2014 , and no commercial paper outstanding at december 31 , 2013 and 2012 .the amount of commercial paper outstanding fluctuates throughout each year based on daily liquidity needs .the average commercial paper balance was $ 1.356 billion and the average interest rate paid was 0.10% ( 0.10 % ) in 2014 ( $ 1.013 billion and 0.07% ( 0.07 % ) in 2013 , and $ 962 million and 0.07% ( 0.07 % ) in 2012 , respectively ) .the variation in cash received from common stock issuances to employees was primarily due to level of stock option exercises in the 2012 through 2014 period .the cash outflows in other financing activities were impacted by several factors .cash inflows ( outflows ) from the premium payments and settlements of capped call options for the purchase of ups class b shares were $ ( 47 ) , $ ( 93 ) and $ 206 million for 2014 , 2013 and 2012 , respectively .cash outflows related to the repurchase of shares to satisfy tax withholding obligations on vested employee stock awards were $ 224 , $ 253 and $ 234 million for 2014 , 2013 and 2012 , respectively .in 2013 , we paid $ 70 million to purchase the noncontrolling interest in a joint venture that operates in the middle east , turkey and portions of the central asia region .in 2012 , we settled several interest rate derivatives that were designated as hedges of the senior fixed-rate debt offerings that year , which resulted in a cash outflow of $ 70 million .sources of credit see note 7 to the audited consolidated financial statements for a discussion of our available credit and debt covenants .guarantees and other off-balance sheet arrangements we do not have guarantees or other off-balance sheet financing arrangements , including variable interest entities , which we believe could have a material impact on financial condition or liquidity .contractual commitments we have contractual obligations and commitments in the form of capital leases , operating leases , debt obligations , purchase commitments , and certain other liabilities .we intend to satisfy these obligations through the use of cash flow from operations .the following table summarizes the expected cash outflow to satisfy our contractual obligations and commitments as of december 31 , 2014 ( in millions ) : .
[['commitment type', '2015', '2016', '2017', '2018', '2019', 'after 2019', 'total'], ['capital leases', '$ 75', '$ 74', '$ 67', '$ 62', '$ 59', '$ 435', '$ 772'], ['operating leases', '323', '257', '210', '150', '90', '274', '1304'], ['debt principal', '876', '8', '377', '752', '1000', '7068', '10081'], ['debt interest', '295', '293', '293', '282', '260', '4259', '5682'], ['purchase commitments', '269', '195', '71', '19', '8', '26', '588'], ['pension fundings', '1030', '1161', '344', '347', '400', '488', '3770'], ['other liabilities', '43', '23', '10', '5', '2014', '2014', '81'], ['total', '$ 2911', '$ 2011', '$ 1372', '$ 1617', '$ 1817', '$ 12550', '$ 22278']]
.
|
what portion of the total contractual obligations is due in 2015?
|
13.1%
|
{
"answer": "13.1%",
"decimal": 0.131,
"type": "percentage"
}
| |
management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) 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 $ 156.1 in 2015 .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 , euro and south african rand as of december 31 , 2015 compared to december 31 , 2014. .
[['balance sheet data', 'december 31 , 2016', 'december 31 , 2015'], ['cash cash equivalents and marketable securities', '$ 1100.6', '$ 1509.7'], ['short-term borrowings', '$ 85.7', '$ 132.9'], ['current portion of long-term debt', '323.9', '1.9'], ['long-term debt', '1280.7', '1610.3'], ['total debt', '$ 1690.3', '$ 1745.1']]
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 .funding requirements our most significant funding requirements include our operations , non-cancelable operating lease obligations , capital expenditures , acquisitions , common stock dividends , taxes and debt service .additionally , we may be required to make payments to minority shareholders in certain subsidiaries if they exercise their options to sell us their equity interests .notable funding requirements include : 2022 debt service 2013 our 2.25% ( 2.25 % ) senior notes in aggregate principal amount of $ 300.0 mature on november 15 , 2017 , and a $ 22.6 note classified within our other notes payable is due on june 30 , 2017 .we expect to use available cash to fund the retirement of the outstanding notes upon maturity .the remainder of our debt is primarily long-term , with maturities scheduled through 2024 .see the table below for the maturity schedule of our long-term debt .2022 acquisitions 2013 we paid cash of $ 52.1 , net of cash acquired of $ 13.6 , for acquisitions completed in 2016 .we also paid $ 0.5 in up-front payments and $ 59.3 in deferred payments for prior-year acquisitions as well as ownership increases in our consolidated subsidiaries .in addition to potential cash expenditures for new acquisitions , we expect to pay approximately $ 77.0 in 2017 related to prior-year acquisitions .we may also be required to pay approximately $ 31.0 in 2017 related to put options held by minority shareholders if exercised .we will continue to evaluate strategic opportunities to grow and continue to strengthen our market position , particularly in our digital and marketing services offerings , and to expand our presence in high-growth and key strategic world markets .2022 dividends 2013 during 2016 , we paid four quarterly cash dividends of $ 0.15 per share on our common stock , which corresponded to aggregate dividend payments of $ 238.4 .on february 10 , 2017 , we announced that our board of directors ( the 201cboard 201d ) had declared a common stock cash dividend of $ 0.18 per share , payable on march 15 , 2017 to holders of record as of the close of business on march 1 , 2017 .assuming we pay a quarterly dividend of $ 0.18 per share and there is no significant change in the number of outstanding shares as of december 31 , 2016 , we would expect to pay approximately $ 280.0 over the next twelve months. .
|
how much has cash equivalents and marketable securities decreased from 2014 to 2016?
|
33.9% decrease
|
{
"answer": "33.9% decrease",
"decimal": 0.33899999999999997,
"type": "percentage"
}
|
to find the amount of cash equivalent and marketable securities in 2014 , one needs to add the amount that was given in line 1 by 2015 . then to find the percentage difference one will subtract 2014 by 2016 and then divide that solution by 2014 .
|
entergy arkansas , inc .and subsidiaries management 2019s financial discussion and analysis stock restrict the amount of retained earnings available for the payment of cash dividends or other distributions on its common and preferred stock .sources of capital entergy arkansas 2019s sources to meet its capital requirements include : 2022 internally generated funds ; 2022 cash on hand ; 2022 debt or preferred stock issuances ; and 2022 bank financing under new or existing facilities .entergy arkansas may refinance , redeem , or otherwise retire debt and preferred stock prior to maturity , to the extent market conditions and interest and dividend rates are favorable .all debt and common and preferred stock issuances by entergy arkansas require prior regulatory approval .preferred stock and debt issuances are also subject to issuance tests set forth in entergy arkansas 2019s corporate charters , bond indentures , and other agreements .entergy arkansas has sufficient capacity under these tests to meet its foreseeable capital needs .entergy arkansas 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years. .
[['2016', '2015', '2014', '2013'], ['( in thousands )', '( in thousands )', '( in thousands )', '( in thousands )'], ['( $ 51232 )', '( $ 52742 )', '$ 2218', '$ 17531']]
see note 4 to the financial statements for a description of the money pool .entergy arkansas has a credit facility in the amount of $ 150 million scheduled to expire in august 2021 .entergy arkansas also has a $ 20 million credit facility scheduled to expire in april 2017 .the $ 150 million credit facility allows entergy arkansas to issue letters of credit against 50% ( 50 % ) of the borrowing capacity of the facility .as of december 31 , 2016 , there were no cash borrowings and no letters of credit outstanding under the credit facilities .in addition , entergy arkansas is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations under miso .as of december 31 , 2016 , a $ 1 million letter of credit was outstanding under entergy arkansas 2019s uncommitted letter of credit facility .see note 4 to the financial statements for additional discussion of the credit facilities .the entergy arkansas nuclear fuel company variable interest entity has a credit facility in the amount of $ 80 million scheduled to expire in may 2019 .as of december 31 , 2016 , no letters of credit were outstanding under the credit facility to support commercial paper issued by the entergy arkansas nuclear fuel company variable interest entity .see note 4 to the financial statements for additional discussion of the nuclear fuel company variable interest entity credit facility .entergy arkansas obtained authorizations from the ferc through october 2017 for short-term borrowings not to exceed an aggregate amount of $ 250 million at any time outstanding and long-term borrowings by its nuclear fuel company variable interest entity .see note 4 to the financial statements for further discussion of entergy arkansas 2019s short-term borrowing limits .the long-term securities issuances of entergy arkansas are limited to amounts authorized by the apsc and the tennessee regulatory authority ; the current authorizations extend through december 2018. .
|
how is cash flow of entergy arkansas affected by the change in balance of money pool from 2014 to 2015?
|
54960
|
{
"answer": "54960",
"decimal": 54960,
"type": "float"
}
| |
segment includes awe and our share of earnings for our investment in ula , which provides expendable launch services to the u.s .government .space systems 2019 operating results included the following ( in millions ) : .
[['', '2016', '2015', '2014'], ['net sales', '$ 9409', '$ 9105', '$ 9202'], ['operating profit', '1289', '1171', '1187'], ['operating margin', '13.7% ( 13.7 % )', '12.9% ( 12.9 % )', '12.9% ( 12.9 % )'], ['backlog atyear-end', '$ 18900', '$ 17400', '$ 20300']]
2016 compared to 2015 space systems 2019 net sales in 2016 increased $ 304 million , or 3% ( 3 % ) , compared to 2015 .the increase was attributable to net sales of approximately $ 410 million from awe following the consolidation of this business in the third quarter of 2016 ; and approximately $ 150 million for commercial space transportation programs due to increased launch-related activities ; and approximately $ 70 million of higher net sales for various programs ( primarily fleet ballistic missiles ) due to increased volume .these increases were partially offset by a decrease in net sales of approximately $ 340 million for government satellite programs due to decreased volume ( primarily sbirs and muos ) and the wind-down or completion of mission solutions programs .space systems 2019 operating profit in 2016 increased $ 118 million , or 10% ( 10 % ) , compared to 2015 .the increase was primarily attributable to a non-cash , pre-tax gain of approximately $ 127 million related to the consolidation of awe ; and approximately $ 80 million of increased equity earnings from joint ventures ( primarily ula ) .these increases were partially offset by a decrease of approximately $ 105 million for government satellite programs due to lower risk retirements ( primarily sbirs , muos and mission solutions programs ) and decreased volume .adjustments not related to volume , including net profit booking rate adjustments , were approximately $ 185 million lower in 2016 compared to 2015 .2015 compared to 2014 space systems 2019 net sales in 2015 decreased $ 97 million , or 1% ( 1 % ) , compared to 2014 .the decrease was attributable to approximately $ 335 million lower net sales for government satellite programs due to decreased volume ( primarily aehf ) and the wind-down or completion of mission solutions programs ; and approximately $ 55 million for strategic missile and defense systems due to lower volume .these decreases were partially offset by higher net sales of approximately $ 235 million for businesses acquired in 2014 ; and approximately $ 75 million for the orion program due to increased volume .space systems 2019 operating profit in 2015 decreased $ 16 million , or 1% ( 1 % ) , compared to 2014 .operating profit increased approximately $ 85 million for government satellite programs due primarily to increased risk retirements .this increase was offset by lower operating profit of approximately $ 65 million for commercial satellite programs due to performance matters on certain programs ; and approximately $ 35 million due to decreased equity earnings in joint ventures .adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 105 million higher in 2015 compared to 2014 .equity earnings total equity earnings recognized by space systems ( primarily ula ) represented approximately $ 325 million , $ 245 million and $ 280 million , or 25% ( 25 % ) , 21% ( 21 % ) and 24% ( 24 % ) of this business segment 2019s operating profit during 2016 , 2015 and backlog backlog increased in 2016 compared to 2015 primarily due to the addition of awe 2019s backlog .backlog decreased in 2015 compared to 2014 primarily due to lower orders for government satellite programs and the orion program and higher sales on the orion program .trends we expect space systems 2019 2017 net sales to decrease in the mid-single digit percentage range as compared to 2016 , driven by program lifecycles on government satellite programs , partially offset by the recognition of awe net sales for a full year in 2017 versus a partial year in 2016 following the consolidation of awe in the third quarter of 2016 .operating profit .
|
what is the growth rate for backlog at year-end from 2015 to 2016?
|
8.6%
|
{
"answer": "8.6%",
"decimal": 0.086,
"type": "percentage"
}
| |
consumer lending asset classes home equity and residential real estate loan classes we use several credit quality indicators , including delinquency information , nonperforming loan information , updated credit scores , originated and updated ltv ratios , and geography , to monitor and manage credit risk within the home equity and residential real estate loan classes .we evaluate mortgage loan performance by source originators and loan servicers .a summary of asset quality indicators follows : delinquency/delinquency rates : we monitor trending of delinquency/delinquency rates for home equity and residential real estate loans .see the asset quality section of this note 3 for additional information .nonperforming loans : we monitor trending of nonperforming loans for home equity and residential real estate loans .see the asset quality section of this note 3 for additional information .credit scores : we use a national third-party provider to update fico credit scores for home equity loans and lines of credit and residential real estate loans at least quarterly .the updated scores are incorporated into a series of credit management reports , which are utilized to monitor the risk in the loan classes .ltv ( inclusive of combined loan-to-value ( cltv ) for first and subordinate lien positions ) : at least annually , we update the property values of real estate collateral and calculate an updated ltv ratio .for open-end credit lines secured by real estate in regions experiencing significant declines in property values , more frequent valuations may occur .we examine ltv migration and stratify ltv into categories to monitor the risk in the loan classes .historically , we used , and we continue to use , a combination of original ltv and updated ltv for internal risk management and reporting purposes ( e.g. , line management , loss mitigation strategies ) .in addition to the fact that estimated property values by their nature are estimates , given certain data limitations it is important to note that updated ltvs may be based upon management 2019s assumptions ( e.g. , if an updated ltv is not provided by the third-party service provider , home price index ( hpi ) changes will be incorporated in arriving at management 2019s estimate of updated ltv ) .geography : geographic concentrations are monitored to evaluate and manage exposures .loan purchase programs are sensitive to , and focused within , certain regions to manage geographic exposures and associated risks .a combination of updated fico scores , originated and updated ltv ratios and geographic location assigned to home equity loans and lines of credit and residential real estate loans is used to monitor the risk in the loan classes .loans with higher fico scores and lower ltvs tend to have a lower level of risk .conversely , loans with lower fico scores , higher ltvs , and in certain geographic locations tend to have a higher level of risk .consumer purchased impaired loan class estimates of the expected cash flows primarily determine the valuation of consumer purchased impaired loans .consumer cash flow estimates are influenced by a number of credit related items , which include , but are not limited to : estimated real estate values , payment patterns , updated fico scores , the current economic environment , updated ltv ratios and the date of origination .these key factors are monitored to help ensure that concentrations of risk are managed and cash flows are maximized .see note 4 purchased loans for additional information .table 63 : home equity and residential real estate balances in millions december 31 december 31 .
[['in millions', 'december 312014', 'december 31 2013'], ['home equity and residential real estate loans 2013 excluding purchased impaired loans ( a )', '$ 43348', '$ 44376'], ['home equity and residential real estate loans 2013 purchased impaired loans ( b )', '4541', '5548'], ['government insured or guaranteed residential real estate mortgages ( a )', '1188', '1704'], ['purchase accounting adjustments 2013 purchased impaired loans', '7', '-116 ( 116 )'], ['total home equity and residential real estate loans ( a )', '$ 49084', '$ 51512']]
( a ) represents recorded investment .( b ) represents outstanding balance .the pnc financial services group , inc .2013 form 10-k 133 .
|
what is the total , in millions , that represents outstanding balances in 2013 and 2014?
|
10089
|
{
"answer": "10089",
"decimal": 10089,
"type": "float"
}
| |
part iii item 10 .directors and executive officers of the registrant .pursuant to section 406 of the sarbanes-oxley act of 2002 , we have adopted a code of ethics for senior financial officers that applies to our principal executive officer and principal financial officer , principal accounting officer and controller , and other persons performing similar functions .our code of ethics for senior financial officers is publicly available on our website at www.hologic.com .we intend to satisfy the disclosure requirement under item 5.05 of current report on form 8-k regarding an amendment to , or waiver from , a provision of this code by posting such information on our website , at the address specified above .the additional information required by this item is incorporated by reference to our definitive proxy statement for our annual meeting of stockholders to be filed with the securities and exchange commission within 120 days after the close of our fiscal year .item 11 .executive compensation .the information required by this item is incorporated by reference to our definitive proxy statement for our annual meeting of stockholders to be filed with the securities and exchange commission within 120 days after the close of our fiscal year .item 12 .security ownership of certain beneficial owners and management and related stockholder matters .we maintain a number of equity compensation plans for employees , officers , directors and others whose efforts contribute to our success .the table below sets forth certain information as our fiscal year ended september 24 , 2005 regarding the shares of our common stock available for grant or granted under stock option plans that ( i ) were approved by our stockholders , and ( ii ) were not approved by our stockholders .the number of securities and the exercise price of the outstanding securities have been adjusted to reflect our two-for-one stock split effected on november 30 , 2005 .equity compensation plan information plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ( 1 ) .............................3841008 $ 7.84 1016520 equity compensation plans not approved by security holders ( 2 ) ......................863604 $ 6.44 0 .
[['plan category', 'number of securities to be issued upon exerciseof outstanding options warrants and rights ( a )', 'weighted-average exercise price of outstanding options warrants and rights ( b )', 'number of securities remaining available for future issuance under equitycompensation plans ( excluding securities reflected in column ( a ) ) ( c )'], ['equity compensation plans approved by security holders ( 1 )', '3841008', '$ 7.84', '1016520'], ['equity compensation plans not approved by security holders ( 2 )', '863604', '$ 6.44', '0'], ['total', '4704612', '$ 7.58', '1016520']]
( 1 ) includes the following plans : 1986 combination stock option plan ; amended and restated 1990 non-employee director stock option plan ; 1995 combination stock option plan ; amended and restated 1999 equity incentive plan ; and 2000 employee stock purchase plan .also includes the following plans which we assumed in connection with our acquisition of fluoroscan imaging systems in 1996 : fluoroscan imaging systems , inc .1994 amended and restated stock incentive plan and fluoroscan imaging systems , inc .1995 stock incentive plan .for a description of these plans , please refer to footnote 5 contained in our consolidated financial statements. .
|
what portion of the total number of issues securities is approved by security holders?
|
81.6%
|
{
"answer": "81.6%",
"decimal": 0.816,
"type": "percentage"
}
| |
u.s .equity securities and international equity securities categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year .for u.s .equity securities and international equity securities not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker or investment manager .these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor or categorized as level 3 if the custodian obtains uncorroborated quotes from a broker or investment manager .commingled equity funds categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year .for commingled equity funds not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker or investment manager .these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor .fixed income investments categorized as level 2 are valued by the trustee using pricing models that use verifiable observable market data ( e.g. , interest rates and yield curves observable at commonly quoted intervals and credit spreads ) , bids provided by brokers or dealers or quoted prices of securities with similar characteristics .fixed income investments are categorized at level 3 when valuations using observable inputs are unavailable .the trustee obtains pricing based on indicative quotes or bid evaluations from vendors , brokers or the investment manager .commodities are traded on an active commodity exchange and are valued at their closing prices on the last trading day of the certain commingled equity funds , consisting of equity mutual funds , are valued using the nav.aa thenavaa valuations are based on the underlying investments and typically redeemable within 90 days .private equity funds consist of partnership and co-investment funds .the navaa is based on valuation models of the underlying securities , which includes unobservable inputs that cannot be corroborated using verifiable observable market data .these funds typically have redemption periods between eight and 12 years .real estate funds consist of partnerships , most of which are closed-end funds , for which the navaa is based on valuationmodels and periodic appraisals .these funds typically have redemption periods between eight and 10 years .hedge funds consist of direct hedge funds forwhich thenavaa is generally based on the valuation of the underlying investments .redemptions in hedge funds are based on the specific terms of each fund , and generally range from a minimum of one month to several months .contributions and expected benefit payments the funding of our qualified defined benefit pension plans is determined in accordance with erisa , as amended by the ppa , and in a manner consistent with cas and internal revenue code rules .there were no material contributions to our qualified defined benefit pension plans during 2017 .we will make contributions of $ 5.0 billion to our qualified defined benefit pension plans in 2018 , including required and discretionary contributions.as a result of these contributions , we do not expect any material qualified defined benefit cash funding will be required until 2021.we plan to fund these contributions using a mix of cash on hand and commercial paper .while we do not anticipate a need to do so , our capital structure and resources would allow us to issue new debt if circumstances change .the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2017 ( in millions ) : .
[['', '2018', '2019', '2020', '2021', '2022', '2023 2013 2027'], ['qualified defined benefit pension plans', '$ 2450', '$ 2480', '$ 2560', '$ 2630', '$ 2700', '$ 14200'], ['retiree medical and life insurance plans', '180', '180', '180', '180', '180', '820']]
defined contribution plans wemaintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees .under the provisions of our 401 ( k ) plans , wematchmost employees 2019 eligible contributions at rates specified in the plan documents .our contributions were $ 613 million in 2017 , $ 617 million in 2016 and $ 393 million in 2015 , the majority of which were funded using our common stock .our defined contribution plans held approximately 35.5 million and 36.9 million shares of our common stock as of december 31 , 2017 and 2016. .
|
what is the change in millions of qualified defined benefit pension plans expected payments from 2019 to 2020?
|
80
|
{
"answer": "80",
"decimal": 80,
"type": "float"
}
| |
economic useful life is the duration of time an asset is expected to be productively employed by us , which may be less than its physical life .assumptions on the following factors , among others , affect the determination of estimated economic useful life : wear and tear , obsolescence , technical standards , contract life , market demand , competitive position , raw material availability , and geographic location .the estimated economic useful life of an asset is monitored to determine its appropriateness , especially in light of changed business circumstances .for example , changes in technology , changes in the estimated future demand for products , or excessive wear and tear may result in a shorter estimated useful life than originally anticipated .in these cases , we would depreciate the remaining net book value over the new estimated remaining life , thereby increasing depreciation expense per year on a prospective basis .likewise , if the estimated useful life is increased , the adjustment to the useful life decreases depreciation expense per year on a prospective basis .we have numerous long-term customer supply contracts , particularly in the gases on-site business within the tonnage gases segment .these contracts principally have initial contract terms of 15 to 20 years .there are also long-term customer supply contracts associated with the tonnage gases business within the electronics and performance materials segment .these contracts principally have initial terms of 10 to 15 years .additionally , we have several customer supply contracts within the equipment and energy segment with contract terms that are primarily five to 10 years .the depreciable lives of assets within this segment can be extended to 20 years for certain redeployable assets .depreciable lives of the production assets related to long-term contracts are matched to the contract lives .extensions to the contract term of supply frequently occur prior to the expiration of the initial term .as contract terms are extended , the depreciable life of the remaining net book value of the production assets is adjusted to match the new contract term , as long as it does not exceed the physical life of the asset .the depreciable lives of production facilities within the merchant gases segment are principally 15 years .customer contracts associated with products produced at these types of facilities typically have a much shorter term .the depreciable lives of production facilities within the electronics and performance materials segment , where there is not an associated long-term supply agreement , range from 10 to 15 years .these depreciable lives have been determined based on historical experience combined with judgment on future assumptions such as technological advances , potential obsolescence , competitors 2019 actions , etc .management monitors its assumptions and may potentially need to adjust depreciable life as circumstances change .a change in the depreciable life by one year for production facilities within the merchant gases and electronics and performance materials segments for which there is not an associated long-term customer supply agreement would impact annual depreciation expense as summarized below : decrease life by 1 year increase life by 1 year .
[['', 'decrease lifeby 1 year', 'increase life by 1 year'], ['merchant gases', '$ 32', '$ -24 ( 24 )'], ['electronics and performance materials', '$ 12', '$ -11 ( 11 )']]
impairment of assets plant and equipment plant and equipment held for use is grouped for impairment testing at the lowest level for which there is identifiable cash flows .impairment testing of the asset group occurs whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable .such circumstances would include a significant decrease in the market value of a long-lived asset grouping , a significant adverse change in the manner in which the asset grouping is being used or in its physical condition , a history of operating or cash flow losses associated with the use of the asset grouping , or changes in the expected useful life of the long-lived assets .if such circumstances are determined to exist , an estimate of undiscounted future cash flows produced by that asset group is compared to the carrying value to determine whether impairment exists .if an asset group is determined to be impaired , the loss is measured based on the difference between the asset group 2019s fair value and its carrying value .an estimate of the asset group 2019s fair value is based on the discounted value of its estimated cash flows .assets to be disposed of by sale are reported at the lower of carrying amount or fair value less cost to sell .the assumptions underlying cash flow projections represent management 2019s best estimates at the time of the impairment review .factors that management must estimate include industry and market conditions , sales volume and prices , costs to produce , inflation , etc .changes in key assumptions or actual conditions that differ from estimates could result in an impairment charge .we use reasonable and supportable assumptions when performing .
|
considering the contract terms of 15 years , what will be the total expense with the depreciation of the merchant gases segment?\\n
|
360
|
{
"answer": "360",
"decimal": 360,
"type": "float"
}
|
it is the number of years of the contract multiplied by the increased life by year .
|
9 .junior subordinated debt securities payable in accordance with the provisions of the junior subordinated debt securities which were issued on march 29 , 2004 , holdings elected to redeem the $ 329897 thousand of 6.2% ( 6.2 % ) junior subordinated debt securities outstanding on may 24 , 2013 .as a result of the early redemption , the company incurred pre-tax expense of $ 7282 thousand related to the immediate amortization of the remaining capitalized issuance costs on the trust preferred securities .interest expense incurred in connection with these junior subordinated debt securities is as follows for the periods indicated: .
[['( dollars in thousands )', 'years ended december 31 , 2015', 'years ended december 31 , 2014', 'years ended december 31 , 2013'], ['interest expense incurred', '$ -', '$ -', '$ 8181']]
holdings considered the mechanisms and obligations relating to the trust preferred securities , taken together , constituted a full and unconditional guarantee by holdings of capital trust ii 2019s payment obligations with respect to their trust preferred securities .10 .reinsurance and trust agreements certain subsidiaries of group have established trust agreements , which effectively use the company 2019s investments as collateral , as security for assumed losses payable to certain non-affiliated ceding companies .at december 31 , 2015 , the total amount on deposit in trust accounts was $ 454384 thousand .on april 24 , 2014 , the company entered into two collateralized reinsurance agreements with kilimanjaro re limited ( 201ckilimanjaro 201d ) , a bermuda based special purpose reinsurer , to provide the company with catastrophe reinsurance coverage .these agreements are multi-year reinsurance contracts which cover specified named storm and earthquake events .the first agreement provides up to $ 250000 thousand of reinsurance coverage from named storms in specified states of the southeastern united states .the second agreement provides up to $ 200000 thousand of reinsurance coverage from named storms in specified states of the southeast , mid-atlantic and northeast regions of the united states and puerto rico as well as reinsurance coverage from earthquakes in specified states of the southeast , mid-atlantic , northeast and west regions of the united states , puerto rico and british columbia .on november 18 , 2014 , the company entered into a collateralized reinsurance agreement with kilimanjaro re to provide the company with catastrophe reinsurance coverage .this agreement is a multi-year reinsurance contract which covers specified earthquake events .the agreement provides up to $ 500000 thousand of reinsurance coverage from earthquakes in the united states , puerto rico and canada .on december 1 , 2015 the company entered into two collateralized reinsurance agreements with kilimanjaro re to provide the company with catastrophe reinsurance coverage .these agreements are multi-year reinsurance contracts which cover named storm and earthquake events .the first agreement provides up to $ 300000 thousand of reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .the second agreement provides up to $ 325000 thousand of reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .kilimanjaro has financed the various property catastrophe reinsurance coverage by issuing catastrophe bonds to unrelated , external investors .on april 24 , 2014 , kilimanjaro issued $ 450000 thousand of notes ( 201cseries 2014-1 notes 201d ) .on november 18 , 2014 , kilimanjaro issued $ 500000 thousand of notes ( 201cseries 2014-2 notes 201d ) .on december 1 , 2015 , kilimanjaro issued $ 625000 thousand of notes ( 201cseries 2015-1 notes ) .the proceeds from the issuance of the series 2014-1 notes , the series 2014-2 notes and the series 2015-1 notes are held in reinsurance trust throughout the duration of the applicable reinsurance agreements and invested solely in us government money market funds with a rating of at least 201caaam 201d by standard & poor 2019s. .
|
what is the yearly interest incurred by the redeemed amount of junior subordinated debt , in thousands?
|
20453.6
|
{
"answer": "20453.6",
"decimal": 20453.6,
"type": "float"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) company is currently unable to estimate the impact of the amount of such changes , if any , to previously recorded uncertain tax positions .a reconciliation of the beginning and ending amount of unrecognized tax benefits for the year ending december 31 , 2007 is as follows ( in thousands ) : .
[['balance at january 1 2007', '$ 183953'], ['additions based on tax positions related to the current year', '2598'], ['additions for tax positions of prior years', '5412'], ['reductions for tax positions of prior years', '-120016 ( 120016 )'], ['cash advance in connection with proposed settlement', '-6682 ( 6682 )'], ['settlements with taxing authorities', '-5372 ( 5372 )'], ['reductions as a result of the lapse of statute of limitations', '-669 ( 669 )'], ['balance as of december 31 2007', '$ 59224']]
during the year ended december 31 , 2007 , the company recorded penalties and tax-related interest income of $ 2.5 million and interest income from tax refunds of $ 1.5 million for the year ended december 31 , 2007 .as of december 31 , 2007 and january 1 , 2007 , the total unrecognized tax benefits included in other long-term liabilities in the consolidated balance sheets was $ 29.6 million and $ 34.3 million , respectively .as of december 31 , 2007 and january 1 , 2007 , the total amount of accrued income tax-related interest and penalties included in other long-term liabilities in the consolidated balance sheets was $ 30.7 million and $ 33.2 million , respectively .in the fourth quarter of 2007 , the company entered into a tax amnesty program with the mexican tax authority .as of december 31 , 2007 , the company had met all of the administrative requirements of the program , which enabled the company to recognize certain tax benefits .this was confirmed by the mexican tax authority on february 5 , 2008 .these benefits include a reduction of uncertain tax benefits of $ 5.4 million along with penalties and interest of $ 12.5 million related to 2002 , all of which reduced income tax expense .in connection with the above program , the company paid $ 6.7 million to the mexican tax authority as a settlement offer for other uncertain tax positions related to 2003 and 2004 .this offer is currently under review by the mexican tax authority ; the company cannot yet determine the specific timing or the amount of any potential settlement .during 2007 , the statute of limitations on certain unrecognized tax benefits lapsed , which resulted in a $ 0.7 million decrease in the liability for uncertain tax benefits , all of which reduced the income tax provision .the company files numerous consolidated and separate income tax returns , including u.s .federal and state tax returns and foreign tax returns in mexico and brazil .as a result of the company 2019s ability to carry forward federal and state net operating losses , the applicable tax years remain open to examination until three years after the applicable loss carryforwards have been used or expired .however , the company has completed u.s .federal income tax examinations for tax years up to and including 2002 .the company is currently undergoing u.s .federal income tax examinations for tax years 2004 and 2005 .additionally , it is subject to examinations in various u.s .state jurisdictions for certain tax years , and is under examination in brazil for the 2001 through 2006 tax years and mexico for the 2002 tax year .sfas no .109 , 201caccounting for income taxes , 201d requires that companies record a valuation allowance when it is 201cmore likely than not that some portion or all of the deferred tax assets will not be realized . 201d at december 31 , 2007 , the company has provided a valuation allowance of approximately $ 88.2 million , including approximately .
|
what is the percentage change in he total amount of accrued income tax-related interest and penalties included in other long-term liabilities during 2007?
|
-7.5%
|
{
"answer": "-7.5%",
"decimal": -0.075,
"type": "percentage"
}
| |
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 percentage of total leased locations are located in united states?
|
47.1%
|
{
"answer": "47.1%",
"decimal": 0.47100000000000003,
"type": "percentage"
}
| |
asian industrial packaging net sales for 2007 were $ 265 million compared with $ 180 million in 2006 .in 2005 , net sales were $ 105 million sub- sequent to international paper 2019s acquisition of a majority interest in this business in august 2005 .operating profits totaled $ 6 million in 2007 and $ 3 million in 2006 , compared with a loss of $ 4 million in consumer packaging demand and pricing for consumer packaging prod- ucts correlate closely with consumer spending and general economic activity .in addition to prices and volumes , major factors affecting the profitability of consumer packaging are raw material and energy costs , freight costs , manufacturing efficiency and product mix .consumer packaging net sales increased 12% ( 12 % ) compared with 2006 and 24% ( 24 % ) compared with 2005 .operating profits rose 15% ( 15 % ) from 2006 and 24% ( 24 % ) from 2005 levels .benefits from improved average sales price realizations ( $ 52 million ) , higher sales volumes for u.s .and european coated paperboard ( $ 9 million ) , favorable mill operations ( $ 14 million ) and contributions from international paper & sun cartonboard co. , ltd .acquired in 2006 ( $ 16 million ) , were partially offset by higher raw material and energy costs ( $ 53 million ) , an unfavorable mix of products sold ( $ 4 million ) , increased freight costs ( $ 5 million ) and other costs ( $ 3 million ) .consumer packaging in millions 2007 2006 2005 .
[['in millions', '2007', '2006', '2005'], ['sales', '$ 3015', '$ 2685', '$ 2435'], ['operating profit', '$ 198', '$ 172', '$ 160']]
north american consumer packaging net sales were $ 2.4 billion in both 2007 and 2006 com- pared with $ 2.2 billion in 2005 .operating earnings of $ 143 million in 2007 improved from $ 129 million in 2006 and $ 121 million in 2005 .coated paperboard sales volumes increased in 2007 compared with 2006 , particularly for folding carton board , reflecting improved demand .average sales price realizations substantially improved in 2007 for both folding carton board and cup stock .the impact of the higher sales prices combined with improved manufacturing performance at our mills more than offset the negative effects of higher wood and energy costs .foodservice sales volumes were slightly higher in 2007 than in 2006 .average sales prices were also higher reflecting the realization of price increases implemented to recover raw material cost increases .in addition , a more favorable mix of hot cups and food containers led to higher average margins .raw material costs for bleached board and polystyrene were higher than in 2006 , but these increases were partially offset by improved manufacturing costs reflecting increased productivity and reduced waste .shorewood sales volumes in 2007 declined from 2006 levels due to weak demand in the home enter- tainment , tobacco and display markets , although demand was stronger in the consumer products segment .sales margins declined from 2006 reflect- ing a less favorable mix of products sold .raw material costs were higher for bleached board , but this impact was more than offset by improved manufacturing operations and lower operating costs .charges to restructure operations also impacted 2007 results .entering 2008 , coated paperboard sales volumes are expected to be about even with the fourth quarter of 2007 , while average sales price realizations are expected to slightly improve .earnings should bene- fit from fewer planned mill maintenance outages compared with the 2007 fourth quarter .however , costs for wood , polyethylene and energy are expected to be higher .foodservice results are expected to benefit from increased sales volumes and higher sales price realizations .shorewood sales volumes for the first quarter 2008 are expected to seasonally decline , but this negative impact should be partially offset by benefits from cost improve- ments associated with prior-year restructuring actions .european consumer packaging net sales in 2007 were $ 280 million compared with $ 230 million in 2006 and $ 190 million in 2005 .sales volumes in 2007 were higher than in 2006 reflecting stronger market demand and improved productivity at our kwidzyn mill .average sales price realizations also improved in 2007 .operating earnings in 2007 of $ 37 million declined from $ 41 million in 2006 and $ 39 million in 2005 .the additional contribution from higher net sales was more than offset by higher input costs for wood , energy and freight .entering 2008 , sales volumes and prices are expected to be comparable to the fourth quarter .machine performance and sales mix are expected to improve ; however , wood costs are expected to be higher , especially in russia due to strong demand ahead of tariff increases , and energy costs are anticipated to be seasonally higher. .
|
what percentage of consumer packaging sales cam from european consumer packaging net sales in 2006?
|
9%
|
{
"answer": "9%",
"decimal": 0.09,
"type": "percentage"
}
| |
consumer foods net sales decreased $ 94 million for the year to $ 6.5 billion .sales volume declined by 1% ( 1 % ) in fiscal 2006 , principally due to declines in certain shelf stable brands .sales of the company 2019s top thirty brands , which represented approximately 83% ( 83 % ) of total segment sales during fiscal 2006 , were flat as a group , as sales of some of the company 2019s most significant brands , including chef boyardee ae , marie callender 2019s ae , orville redenbacher 2019s ae , slim jim ae , hebrew national ae , kid cuisine ae , reddi-wip ae , vancamp ae , libby 2019s ae , lachoy ae , the max ae , manwich ae , david 2019s ae , ro*tel ae , angela mia ae , and mama rosa ae grew in fiscal 2006 , but were largely offset by sales declines for the year for hunt 2019s ae , wesson ae , act ii ae , snack pack ae , swiss miss ae , pam ae , egg beaters ae , blue bonnet ae , parkay ae , and rosarita ae .food and ingredients net sales increased $ 203 million to $ 3.2 billion , primarily reflecting price increases driven by higher input costs for potato , wheat milling , and dehydrated vegetable operations .net sales were also impacted , to a lesser degree , by a 4% ( 4 % ) increase in potato products volume compared to the prior year .trading and merchandising net sales decreased $ 38 million to $ 1.2 billion .the decrease resulted principally from lower grain and edible bean merchandising volume resulting from the divestment or closure of various locations .international foods net sales increased $ 27 million to $ 603 million .the strengthening of foreign currencies relative to the u.s .dollar accounted for $ 24 million of the increase .overall volume growth was modest as the 10% ( 10 % ) volume growth from the top six international brands ( orville redenbacher 2019s ae , act ii ae , snack pack ae , chef boyardee ae , hunt 2019s ae , and pam ae ) , which account for 55% ( 55 % ) of total segment sales , was offset by sales declines related to the discontinuance of a number of low margin products .gross profit ( net sales less cost of goods sold ) ( $ in millions ) reporting segment fiscal 2006 gross profit fiscal 2005 gross profit % ( % ) increase/ ( decrease ) .
[['reporting segment', 'fiscal 2006 gross profit', 'fiscal 2005 gross profit', '% ( % ) increase/ ( decrease )'], ['consumer foods', '$ 1842', '$ 1890', '( 3 ) % ( % )'], ['food and ingredients', '538', '512', '5% ( 5 % )'], ['trading and merchandising', '278', '282', '( 1 ) % ( % )'], ['international foods', '165', '150', '10% ( 10 % )'], ['total', '$ 2823', '$ 2834', '2014% ( 2014 % )']]
the company 2019s gross profit for fiscal 2006 was $ 2.8 billion , a decrease of $ 11 million from the prior year , as improvements in the foods and ingredients and international foods segments were more than offset by declines in the consumer foods and trading and merchandising segments .gross profit includes $ 20 million of costs associated with the company 2019s restructuring plans in fiscal 2006 , and $ 17 million of costs incurred to implement the company 2019s operational efficiency initiatives in fiscal 2005 .consumer foods gross profit for fiscal 2006 was $ 1.8 billion , a decrease of $ 48 million from fiscal 2005 , driven principally by a 2% ( 2 % ) decline in sales volumes .fiscal 2006 gross profit includes $ 20 million of costs related to the company 2019s restructuring plan , and fiscal 2005 gross profit includes $ 16 million of costs related to implementing the company 2019s operational efficiency initiatives .gross profit was negatively impacted by increased costs of fuel and energy , transportation and warehousing , steel , and other packaging materials in both fiscal 2006 and 2005 .food and ingredients gross profit for fiscal 2006 was $ 538 million , an increase of $ 26 million over the prior year .the gross profit improvement was driven almost entirely by the vegetable processing and dehydration businesses ( including potatoes , garlic , onions , and chili peppers ) as a result of higher volume ( both domestic and export ) , increased value-added sales mix and pricing improvements partially offset by higher raw product and conversion costs. .
|
what percentage of total gross profit was due to food and ingredients in fiscal 2005?
|
18%
|
{
"answer": "18%",
"decimal": 0.18,
"type": "percentage"
}
| |
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. .
|
at december 31 , 2015 , what percent of the environmental-related reserves related to environmental-related asset retirement obligations ?
|
65%
|
{
"answer": "65%",
"decimal": 0.65,
"type": "percentage"
}
| |
volatility of capital markets or macroeconomic factors could adversely affect our business .changes in financial and capital markets , including market disruptions , limited liquidity , uncertainty regarding brexit , and interest rate volatility , including as a result of the use or discontinued use of certain benchmark rates such as libor , may increase the cost of financing as well as the risks of refinancing maturing debt .in addition , our borrowing costs can be affected by short and long-term ratings assigned by rating organizations .a decrease in these ratings could limit our access to capital markets and increase our borrowing costs , which could materially and adversely affect our financial condition and operating results .some of our customers and counterparties are highly leveraged .consolidations in some of the industries in which our customers operate have created larger customers , some of which are highly leveraged and facing increased competition and continued credit market volatility .these factors have caused some customers to be less profitable , increasing our exposure to credit risk .a significant adverse change in the financial and/or credit position of a customer or counterparty could require us to assume greater credit risk relating to that customer or counterparty and could limit our ability to collect receivables .this could have an adverse impact on our financial condition and liquidity .item 1b .unresolved staff comments .item 2 .properties .our corporate co-headquarters are located in pittsburgh , pennsylvania and chicago , illinois .our co-headquarters are leased and house certain executive offices , our u.s .business units , and our administrative , finance , legal , and human resource functions .we maintain additional owned and leased offices throughout the regions in which we operate .we manufacture our products in our network of manufacturing and processing facilities located throughout the world .as of december 29 , 2018 , we operated 84 manufacturing and processing facilities .we own 81 and lease three of these facilities .our manufacturing and processing facilities count by segment as of december 29 , 2018 was: .
[['', 'owned', 'leased'], ['united states', '40', '1'], ['canada', '2', '2014'], ['emea', '12', '2014'], ['rest of world', '27', '2']]
we maintain all of our manufacturing and processing facilities in good condition and believe they are suitable and are adequate for our present needs .we also enter into co-manufacturing arrangements with third parties if we determine it is advantageous to outsource the production of any of our products .in the fourth quarter of 2018 , we announced our plans to divest certain assets and operations , predominantly in canada and india , including one owned manufacturing facility in canada and one owned and one leased facility in india .see note 5 , acquisitions and divestitures , in item 8 , financial statements and supplementary data , for additional information on these transactions .item 3 .legal proceedings .see note 18 , commitments and contingencies , in item 8 , financial statements and supplementary data .item 4 .mine safety disclosures .not applicable .part ii item 5 .market for registrant's common equity , related stockholder matters and issuer purchases of equity securities .our common stock is listed on nasdaq under the ticker symbol 201ckhc 201d .at june 5 , 2019 , there were approximately 49000 holders of record of our common stock .see equity and dividends in item 7 , management 2019s discussion and analysis of financial condition and results of operations , for a discussion of cash dividends declared on our common stock. .
|
what percent of owned facilities are in the us?
|
49.38%
|
{
"answer": "49.38%",
"decimal": 0.4938,
"type": "percentage"
}
| |
table of contents other areas in which we do business .depending on the scope of such regulation , certain of our facilities and operations , or the operations of our suppliers , may be subject to additional operating and other permit requirements , potentially resulting in increased operating costs .future regulatory developments future regulatory developments and actions could affect operations and increase operating costs for the airline industry , including our airline subsidiaries .see part i , item 1a .risk factors 2013 201cif we are unable to obtain and maintain adequate facilities and infrastructure throughout our system and , at some airports , adequate slots , we may be unable to operate our existing flight schedule and to expand or change our route network in the future , which may have a material adverse impact on our operations , 201d 201cour business is subject to extensive government regulation , which may result in increases in our costs , disruptions to our operations , limits on our operating flexibility , reductions in the demand for air travel , and competitive disadvantages 201d and 201cwe are subject to many forms of environmental regulation and may incur substantial costs as a result 201d for additional information .employees and labor relations the airline business is labor intensive .in 2015 , salaries , wages and benefits were our largest expenses and represented approximately 31% ( 31 % ) of our operating expenses .the table below presents our approximate number of active full-time equivalent employees as of december 31 , 2015 .mainline operations wholly-owned regional carriers total .
[['', 'mainline operations', 'wholly-owned regional carriers', 'total'], ['pilots and flight crew training instructors', '13100', '3200', '16300'], ['flight attendants', '24100', '1900', '26000'], ['maintenance personnel', '14400', '1800', '16200'], ['fleet service personnel', '16100', '3200', '19300'], ['passenger service personnel', '16500', '7100', '23600'], ['administrative and other', '14700', '2400', '17100'], ['total', '98900', '19600', '118500']]
.
|
what is the percent of the mainline operations full-time equivalent employees to the total number of full-time equivalent employees
|
83.5%
|
{
"answer": "83.5%",
"decimal": 0.835,
"type": "percentage"
}
|
the percent is amount in question divided by the total amount
|
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 2015 ( mmboe ) . .
[['', 'u.s .', 'canada', 'total'], ['proved undeveloped reserves as of december 31 2014', '305', '384', '689'], ['extensions and discoveries', '13', '11', '24'], ['revisions due to prices', '-115 ( 115 )', '80', '-35 ( 35 )'], ['revisions other than price', '-40 ( 40 )', '-80 ( 80 )', '-120 ( 120 )'], ['conversion to proved developed reserves', '-88 ( 88 )', '-94 ( 94 )', '-182 ( 182 )'], ['proved undeveloped reserves as of december 31 2015', '75', '301', '376']]
proved undeveloped reserves decreased 45% ( 45 % ) from year-end 2014 to year-end 2015 , and the year-end 2015 balance represents 17% ( 17 % ) of total proved reserves .drilling and development activities increased devon 2019s proved undeveloped reserves 24 mmboe and resulted in the conversion of 182 mmboe , or 26% ( 26 % ) , of the 2014 proved undeveloped reserves to proved developed reserves .costs incurred to develop and convert devon 2019s proved undeveloped reserves were approximately $ 2.2 billion for 2015 .additionally , revisions other than price decreased devon 2019s proved undeveloped reserves 120 mmboe primarily due to evaluations of certain properties in the u.s .and canada .the largest revisions , which reduced reserves by 80 mmboe , relate to evaluations of jackfish bitumen reserves .of the 40 mmboe revisions recorded for u.s .properties , a reduction of approximately 27 mmboe represents reserves that devon now does not expect to develop in the next five years , including 20 mmboe attributable to the eagle ford .a significant amount of devon 2019s proved undeveloped reserves at the end of 2015 related to its jackfish operations .at december 31 , 2015 and 2014 , devon 2019s jackfish proved undeveloped reserves were 301 mmboe and 384 mmboe , respectively .development schedules for the jackfish reserves are primarily controlled by the need to keep the processing plants at their 35 mbbl 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 through to 2030 .at the end of 2015 , approximately 184 mmboe of proved undeveloped reserves at jackfish have remained undeveloped for five years or more since the initial booking .no other projects have proved undeveloped reserves that have remained undeveloped more than five years from the initial booking of the reserves .furthermore , approximately 180 mmboe of proved undeveloped reserves at jackfish will require in excess of five years , from the date of this filing , to develop .price revisions 2015 2013 reserves decreased 302 mmboe primarily due to lower commodity prices across all products .the lower bitumen price increased canadian reserves due to the decline in royalties , which increases devon 2019s after- royalty volumes .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. .
|
as of december 31 2014 what was the percent of the proved undeveloped reserves in the us
|
44.2%
|
{
"answer": "44.2%",
"decimal": 0.442,
"type": "percentage"
}
| |
23t .rowe price group | annual report 2013 contractual obligations the following table presents a summary of our future obligations ( in millions ) under the terms of existing operating leases and other contractual cash purchase commitments at december 31 , 2013 .other purchase commitments include contractual amounts that will be due for the purchase of goods or services to be used in our operations and may be cancelable at earlier times than those indicated , under certain conditions that may involve termination fees .because these obligations are generally of a normal recurring nature , we expect that we will fund them from future cash flows from operations .the information presented does not include operating expenses or capital expenditures that will be committed in the normal course of operations in 2014 and future years .the information also excludes the $ 4.8 million of uncertain tax positions discussed in note 8 to our consolidated financial statements because it is not possible to estimate the time period in which a payment might be made to the tax authorities. .
[['', 'total', '2014', '2015-16', '2017-18', 'later'], ['noncancelable operating leases', '$ 124', '$ 32', '$ 57', '$ 25', '$ 10'], ['other purchase commitments', '149', '108', '34', '7', '2014'], ['total', '$ 273', '$ 140', '$ 91', '$ 32', '$ 10']]
we also have outstanding commitments to fund additional contributions to investment partnerships totaling $ 40.7 million at december 31 , 2013 .the vast majority of these additional contributions will be made to investment partnerships in which we have an existing investment .in addition to such amounts , a percentage of prior distributions may be called under certain circumstances .in january 2014 , we renewed and extended our operating lease at our corporate headquarters in baltimore , maryland through 2027 .this lease agreement increases the above disclosed total noncancelable operating lease commitments by an additional $ 133.0 million , the vast majority of which will be paid after 2018 .critical accounting policies the preparation of financial statements often requires the selection of specific accounting methods and policies from among several acceptable alternatives .further , significant estimates and judgments may be required in selecting and applying those methods and policies in the recognition of the assets and liabilities in our consolidated balance sheets , the revenues and expenses in our consolidated statements of income , and the information that is contained in our significant accounting policies and notes to consolidated financial statements .making these estimates and judgments requires the analysis of information concerning events that may not yet be complete and of facts and circumstances that may change over time .accordingly , actual amounts or future results can differ materially from those estimates that we include currently in our consolidated financial statements , significant accounting policies , and notes .we present those significant accounting policies used in the preparation of our consolidated financial statements as an integral part of those statements within this 2013 annual report .in the following discussion , we highlight and explain further certain of those policies that are most critical to the preparation and understanding of our financial statements .other-than-temporary impairments of available-for-sale securities .we generally classify our investment holdings in sponsored funds as available-for-sale if we are not deemed to a have a controlling financial interest .at the end of each quarter , we mark the carrying amount of each investment holding to fair value and recognize an unrealized gain or loss as a component of comprehensive income within the consolidated statements of comprehensive income .we next review each individual security position that has an unrealized loss or impairment to determine if that impairment is other than temporary .in determining whether a mutual fund holding is other-than-temporarily impaired , we consider many factors , including the duration of time it has existed , the severity of the impairment , any subsequent changes in value , and our intent and ability to hold the security for a period of time sufficient for an anticipated recovery in fair value .subject to the other considerations noted above , we believe a fund holding with an unrealized loss that has persisted daily throughout the six months between quarter-ends is generally presumed to have an other-than-temporary impairment .we may also recognize an other-than-temporary loss of less than six months in our consolidated statements of income if the particular circumstances of the underlying investment do not warrant our belief that a near-term recovery is possible. .
|
taking into account the renewal of the lease on corporate headquarters what would be the total contractual obligations due after 2018 in millions?
|
143
|
{
"answer": "143",
"decimal": 143,
"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 is the total number of common shares outstanding at the end of the year 2015 , ( in millions ) ?
|
310.3
|
{
"answer": "310.3",
"decimal": 310.3,
"type": "float"
}
| |
commodity prices risk : certain commodities the company uses in the production of its products are exposed to market price risks .3m manages commodity price risks through negotiated supply contracts , price protection agreements and forward physical contracts .the company uses commodity price swaps relative to natural gas as cash flow hedges of forecasted transactions to manage price volatility .generally , the length of time over which 3m hedges its exposure to the variability in future cash flows for its forecasted natural gas transactions is 12 months .3m also enters into commodity price swaps that are not designated in hedge relationships to offset , in part , the impacts of fluctuations in costs associated with the use of certain precious metals .the dollar equivalent gross notional amount of the company 2019s natural gas commodity price swaps designated as cash flow hedges and precious metal commodity price swaps not designated in hedge relationships were $ 19 million and $ 2 million , respectively , at december 31 , 2013 .value at risk : the value at risk analysis is performed annually .a monte carlo simulation technique was used to test the company 2019s exposure to changes in currency rates , interest rates , and commodity prices and assess the risk of loss or benefit in after- tax earnings of financial instruments ( primarily debt ) , derivatives and underlying exposures outstanding at december 31 , 2013 .the model ( third-party bank dataset ) used a 95 percent confidence level over a 12-month time horizon .the exposure to changes in currency rates model used 18 currencies , interest rates related to four currencies , and commodity prices related to five commodities .this model does not purport to represent what actually will be experienced by the company .this model does not include certain hedge transactions , because the company believes their inclusion would not materially impact the results .foreign exchange rate risk of loss or benefit increased in 2013 , primarily due to increases in exposures , which is one of the key drivers in the valuation model .interest rate volatility remained stable in 2013 because interest rates are currently very low and are projected to remain low , based on forward rates .the following table summarizes the possible adverse and positive impacts to after-tax earnings related to these exposures .adverse impact on after-tax earnings positive impact on after-tax earnings .
[['( millions )', 'adverse impact on after-tax earnings 2013', 'adverse impact on after-tax earnings 2012', 'adverse impact on after-tax earnings 2013', '2012'], ['foreign exchange rates', '$ -111 ( 111 )', '$ -97 ( 97 )', '$ 119', '$ 105'], ['interest rates', '-2 ( 2 )', '-2 ( 2 )', '1', '1'], ['commodity prices', '-2 ( 2 )', '-9 ( 9 )', '3', '7']]
in addition to the possible adverse and positive impacts discussed in the preceding table related to foreign exchange rates , recent historical information is as follows .3m estimates that year-on-year currency effects , including hedging impacts , had the following effects on net income attributable to 3m : 2013 ( $ 74 million decrease ) and 2012 ( $ 103 million decrease ) .this estimate includes the effect of translating profits from local currencies into u.s .dollars ; the impact of currency fluctuations on the transfer of goods between 3m operations in the united states and abroad ; and transaction gains and losses , including derivative instruments designed to reduce foreign currency exchange rate risks and the negative impact of swapping venezuelan bolivars into u.s .dollars .3m estimates that year-on-year derivative and other transaction gains and losses had the following effects on net income attributable to 3m : 2013 ( $ 12 million decrease ) and 2012 ( $ 49 million increase ) .an analysis of the global exposures related to purchased components and materials is performed at each year-end .a one percent price change would result in a pre-tax cost or savings of approximately $ 76 million per year .the global energy exposure is such that a 10 percent price change would result in a pre-tax cost or savings of approximately $ 45 million per .
|
\\nwhat was ratio of the estimates of the year-on-year derivative and other transaction gains and losses 2012 to 2013
|
4.1
|
{
"answer": "4.1",
"decimal": 4.1,
"type": "float"
}
| |
management 2019s discussion and analysis 128 jpmorgan chase & co./2010 annual report year ended december 31 .
[['( in millions )', '2010', '2009', '2008'], ['hedges of lending-related commitments ( a )', '$ -279 ( 279 )', '$ -3258 ( 3258 )', '$ 2216'], ['cva and hedges of cva ( a )', '-403 ( 403 )', '1920', '-2359 ( 2359 )'], ['net gains/ ( losses )', '$ -682 ( 682 )', '$ -1338 ( 1338 )', '$ -143 ( 143 )']]
( a ) these hedges do not qualify for hedge accounting under u.s .gaap .lending-related commitments jpmorgan chase uses lending-related financial instruments , such as commitments and guarantees , to meet the financing needs of its customers .the contractual amount of these financial instruments represents the maximum possible credit risk should the counterpar- ties draw down on these commitments or the firm fulfills its obliga- tion under these guarantees , and should the counterparties subsequently fail to perform according to the terms of these con- tracts .wholesale lending-related commitments were $ 346.1 billion at december 31 , 2010 , compared with $ 347.2 billion at december 31 , 2009 .the decrease reflected the january 1 , 2010 , adoption of accounting guidance related to vies .excluding the effect of the accounting guidance , lending-related commitments would have increased by $ 16.6 billion .in the firm 2019s view , the total contractual amount of these wholesale lending-related commitments is not representative of the firm 2019s actual credit risk exposure or funding requirements .in determining the amount of credit risk exposure the firm has to wholesale lend- ing-related commitments , which is used as the basis for allocating credit risk capital to these commitments , the firm has established a 201cloan-equivalent 201d amount for each commitment ; this amount represents the portion of the unused commitment or other contin- gent exposure that is expected , based on average portfolio histori- cal experience , to become drawn upon in an event of a default by an obligor .the loan-equivalent amounts of the firm 2019s lending- related commitments were $ 189.9 billion and $ 179.8 billion as of december 31 , 2010 and 2009 , respectively .country exposure the firm 2019s wholesale portfolio includes country risk exposures to both developed and emerging markets .the firm seeks to diversify its country exposures , including its credit-related lending , trading and investment activities , whether cross-border or locally funded .country exposure under the firm 2019s internal risk management ap- proach is reported based on the country where the assets of the obligor , counterparty or guarantor are located .exposure amounts , including resale agreements , are adjusted for collateral and for credit enhancements ( e.g. , guarantees and letters of credit ) pro- vided by third parties ; outstandings supported by a guarantor located outside the country or backed by collateral held outside the country are assigned to the country of the enhancement provider .in addition , the effect of credit derivative hedges and other short credit or equity trading positions are taken into consideration .total exposure measures include activity with both government and private-sector entities in a country .the firm also reports country exposure for regulatory purposes following ffiec guidelines , which are different from the firm 2019s internal risk management approach for measuring country expo- sure .for additional information on the ffiec exposures , see cross- border outstandings on page 314 of this annual report .several european countries , including greece , portugal , spain , italy and ireland , have been subject to credit deterioration due to weak- nesses in their economic and fiscal situations .the firm is closely monitoring its exposures to these five countries .aggregate net exposures to these five countries as measured under the firm 2019s internal approach was less than $ 15.0 billion at december 31 , 2010 , with no country representing a majority of the exposure .sovereign exposure in all five countries represented less than half the aggregate net exposure .the firm currently believes its exposure to these five countries is modest relative to the firm 2019s overall risk expo- sures and is manageable given the size and types of exposures to each of the countries and the diversification of the aggregate expo- sure .the firm continues to conduct business and support client activity in these countries and , therefore , the firm 2019s aggregate net exposures may vary over time .in addition , the net exposures may be impacted by changes in market conditions , and the effects of interest rates and credit spreads on market valuations .as part of its ongoing country risk management process , the firm monitors exposure to emerging market countries , and utilizes country stress tests to measure and manage the risk of extreme loss associated with a sovereign crisis .there is no common definition of emerging markets , but the firm generally includes in its definition those countries whose sovereign debt ratings are equivalent to 201ca+ 201d or lower .the table below presents the firm 2019s exposure to its top 10 emerging markets countries based on its internal measure- ment approach .the selection of countries is based solely on the firm 2019s largest total exposures by country and does not represent its view of any actual or potentially adverse credit conditions. .
|
what was the annual decline in wholesale lending-related commitments in 2010?
|
.3%
|
{
"answer": ".3%",
"decimal": 0.03,
"type": "percentage"
}
| |
there were no options granted in excess of market value in 2011 , 2010 or 2009 .shares of common stock available during the next year for the granting of options and other awards under the incentive plans were 33775543 at december 31 , 2011 .total shares of pnc common stock authorized for future issuance under equity compensation plans totaled 35304422 shares at december 31 , 2011 , which includes shares available for issuance under the incentive plans and the employee stock purchase plan ( espp ) as described below .during 2011 , we issued 731336 shares from treasury stock in connection with stock option exercise activity .as with past exercise activity , we currently intend to utilize primarily treasury stock for any future stock option exercises .awards granted to non-employee directors in 2011 , 2010 and 2009 include 27090 , 29040 , and 39552 deferred stock units , respectively , awarded under the outside directors deferred stock unit plan .a deferred stock unit is a phantom share of our common stock , which requires liability accounting treatment until such awards are paid to the participants as cash .as there are no vesting or service requirements on these awards , total compensation expense is recognized in full on awarded deferred stock units on the date of grant .incentive/performance unit share awards and restricted stock/unit awards the fair value of nonvested incentive/performance unit share awards and restricted stock/unit awards is initially determined based on prices not less than the market value of our common stock price on the date of grant .the value of certain incentive/ performance unit share awards is subsequently remeasured based on the achievement of one or more financial and other performance goals generally over a three-year period .the personnel and compensation committee of the board of directors approves the final award payout with respect to incentive/performance unit share awards .restricted stock/unit awards have various vesting periods generally ranging from 36 months to 60 months .beginning in 2011 , we incorporated two changes to certain awards under our existing long-term incentive compensation programs .first , for certain grants of incentive performance units , the future payout amount will be subject to a negative annual adjustment if pnc fails to meet certain risk-related performance metrics .this adjustment is in addition to the existing financial performance metrics relative to our peers .these grants have a three-year performance period and are payable in either stock or a combination of stock and cash .second , performance-based restricted share units ( performance rsus ) were granted in 2011 to certain of our executives in lieu of stock options .these performance rsus ( which are payable solely in stock ) have a service condition , an internal risk-related performance condition , and an external market condition .satisfaction of the performance condition is based on four independent one-year performance periods .the weighted-average grant-date fair value of incentive/ performance unit share awards and restricted stock/unit awards granted in 2011 , 2010 and 2009 was $ 63.25 , $ 54.59 and $ 41.16 per share , respectively .we recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program .nonvested incentive/performance unit share awards and restricted stock/unit awards 2013 rollforward shares in thousands nonvested incentive/ performance unit shares weighted- average date fair nonvested restricted stock/ shares weighted- average date fair .
[['shares in thousands december 31 2010', 'nonvested incentive/ performance unit shares 363', 'weighted- average grant date fair value $ 56.40', 'nonvested restricted stock/ unit shares 2250', 'weighted- average grant date fair value $ 49.95'], ['granted', '623', '64.21', '1059', '62.68'], ['vested', '-156 ( 156 )', '59.54', '-706 ( 706 )', '51.27'], ['forfeited', '', '', '-91 ( 91 )', '52.24'], ['december 31 2011', '830', '$ 61.68', '2512', '$ 54.87']]
in the chart above , the unit shares and related weighted- average grant-date fair value of the incentive/performance awards exclude the effect of dividends on the underlying shares , as those dividends will be paid in cash .at december 31 , 2011 , there was $ 61 million of unrecognized deferred compensation expense related to nonvested share- based compensation arrangements granted under the incentive plans .this cost is expected to be recognized as expense over a period of no longer than five years .the total fair value of incentive/performance unit share and restricted stock/unit awards vested during 2011 , 2010 and 2009 was approximately $ 52 million , $ 39 million and $ 47 million , respectively .liability awards we grant annually cash-payable restricted share units to certain executives .the grants were made primarily as part of an annual bonus incentive deferral plan .while there are time- based and service-related vesting criteria , there are no market or performance criteria associated with these awards .compensation expense recognized related to these awards was recorded in prior periods as part of annual cash bonus criteria .as of december 31 , 2011 , there were 753203 of these cash- payable restricted share units outstanding .174 the pnc financial services group , inc .2013 form 10-k .
|
as of december 31 2011 , what were total non-vest iso's and restricted share units , in thousands?
|
3342
|
{
"answer": "3342",
"decimal": 3342,
"type": "float"
}
| |
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. .
|
increased license costs are how much of the total year over year cost increases?
|
22%
|
{
"answer": "22%",
"decimal": 0.22,
"type": "percentage"
}
| |
performance graph the performance graph below shows the five-year cumulative total stockholder return on applied common stock during the period from october 30 , 2011 through october 30 , 2016 .this is compared with the cumulative total return of the standard & poor 2019s 500 stock index and the rdg semiconductor composite index over the same period .the comparison assumes $ 100 was invested on october 30 , 2011 in applied common stock and in each of the foregoing indices and assumes reinvestment of dividends , if any .dollar amounts in the graph are rounded to the nearest whole dollar .the performance shown in the graph represents past performance and should not be considered an indication of future performance .comparison of 5 year cumulative total return* among applied materials , inc. , the s&p 500 index and the rdg semiconductor composite index *assumes $ 100 invested on 10/30/11 in stock or 10/31/11 in index , including reinvestment of dividends .indexes calculated on month-end basis .copyright a9 2016 standard & poor 2019s , a division of s&p global .all rights reserved. .
[['', '10/30/2011', '10/28/2012', '10/27/2013', '10/26/2014', '10/25/2015', '10/30/2016'], ['applied materials', '100.00', '86.93', '148.68', '179.96', '143.74', '255.27'], ['s&p 500 index', '100.00', '115.21', '146.52', '171.82', '180.75', '188.90'], ['rdg semiconductor composite index', '100.00', '96.65', '127.68', '160.86', '154.90', '191.65']]
dividends during each of fiscal 2016 , 2015 , and 2014 , applied 2019s board of directors declared four quarterly cash dividends in the amount of $ 0.10 per share .applied currently anticipates that cash dividends will continue to be paid on a quarterly basis , although the declaration of any future cash dividend is at the discretion of the board of directors and will depend on applied 2019s financial condition , results of operations , capital requirements , business conditions and other factors , as well as a determination by the board of directors that cash dividends are in the best interests of applied 2019s stockholders .10/30/11 10/28/12 10/27/13 10/26/14 10/25/15 10/30/16 applied materials , inc .s&p 500 rdg semiconductor composite .
|
what is the total return if 1000000 is invested in s&p500 in 2011 and sold in 2012?
|
152100
|
{
"answer": "152100",
"decimal": 152100,
"type": "float"
}
| |
jpmorgan chase & co./2016 annual report 35 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co .( 201cjpmorgan chase 201d or the 201cfirm 201d ) common stock with the cumulative return of the s&p 500 index , the kbw bank index and the s&p financial index .the s&p 500 index is a commonly referenced united states of america ( 201cu.s . 201d ) equity benchmark consisting of leading companies from different economic sectors .the kbw bank index seeks to reflect the performance of banks and thrifts that are publicly traded in the u.s .and is composed of leading national money center and regional banks and thrifts .the s&p financial index is an index of financial companies , all of which are components of the s&p 500 .the firm is a component of all three industry indices .the following table and graph assume simultaneous investments of $ 100 on december 31 , 2011 , in jpmorgan chase common stock and in each of the above indices .the comparison assumes that all dividends are reinvested .december 31 , ( in dollars ) 2011 2012 2013 2014 2015 2016 .
[['december 31 ( in dollars )', '2011', '2012', '2013', '2014', '2015', '2016'], ['jpmorgan chase', '$ 100.00', '$ 136.18', '$ 186.17', '$ 204.57', '$ 221.68', '$ 298.31'], ['kbw bank index', '100.00', '133.03', '183.26', '200.42', '201.40', '258.82'], ['s&p financial index', '100.00', '128.75', '174.57', '201.06', '197.92', '242.94'], ['s&p 500 index', '100.00', '115.99', '153.55', '174.55', '176.95', '198.10']]
december 31 , ( in dollars ) .
|
what was the 5 year return of jpmorgan chase's stock?
|
198.31%
|
{
"answer": "198.31%",
"decimal": 1.9831,
"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 growth in allowance for other funds used during construction from 2013 to 2014
|
-44.4%
|
{
"answer": "-44.4%",
"decimal": -0.444,
"type": "percentage"
}
|
the growth rate is the division of the change by the begin balance
|
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 is the total cash spent to purchase back all shares in 2006?
|
86253771
|
{
"answer": "86253771",
"decimal": 86253771,
"type": "float"
}
| |
management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) the effect of foreign exchange rate changes on cash , cash equivalents and restricted cash included in the consolidated statements of cash flows resulted in an increase of $ 11.6 in 2016 , primarily a result of the brazilian real strengthening against the u.s .dollar as of december 31 , 2016 compared to december 31 , 2015. .
[['balance sheet data', 'december 31 , 2017', 'december 31 , 2016'], ['cash cash equivalents and marketable securities', '$ 791.0', '$ 1100.6'], ['short-term borrowings', '$ 84.9', '$ 85.7'], ['current portion of long-term debt', '2.0', '323.9'], ['long-term debt', '1285.6', '1280.7'], ['total debt', '$ 1372.5', '$ 1690.3']]
liquidity outlook we expect our cash flow from operations and existing 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 , uncommitted lines of credit and a commercial paper program 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 ratings , 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 , or continue to access existing sources of liquidity , on commercially reasonable terms , or at all .funding requirements our most significant funding requirements include our operations , non-cancelable operating lease obligations , capital expenditures , acquisitions , common stock dividends , taxes and debt service .additionally , we may be required to make payments to minority shareholders in certain subsidiaries if they exercise their options to sell us their equity interests .notable funding requirements include : 2022 debt service 2013 as of december 31 , 2017 , we had outstanding short-term borrowings of $ 84.9 from our uncommitted lines of credit used primarily to fund seasonal working capital needs .the remainder of our debt is primarily long-term , with maturities scheduled through 2024 .see the table below for the maturity schedule of our long-term debt .2022 acquisitions 2013 we paid cash of $ 29.7 , net of cash acquired of $ 7.1 , for acquisitions completed in 2017 .we also paid $ 0.9 in up-front payments and $ 100.8 in deferred payments for prior-year acquisitions as well as ownership increases in our consolidated subsidiaries .in addition to potential cash expenditures for new acquisitions , we expect to pay approximately $ 42.0 in 2018 related to prior acquisitions .we may also be required to pay approximately $ 33.0 in 2018 related to put options held by minority shareholders if exercised .we will continue to evaluate strategic opportunities to grow and continue to strengthen our market position , particularly in our digital and marketing services offerings , and to expand our presence in high-growth and key strategic world markets .2022 dividends 2013 during 2017 , we paid four quarterly cash dividends of $ 0.18 per share on our common stock , which corresponded to aggregate dividend payments of $ 280.3 .on february 14 , 2018 , we announced that our board of directors ( the 201cboard 201d ) had declared a common stock cash dividend of $ 0.21 per share , payable on march 15 , 2018 to holders of record as of the close of business on march 1 , 2018 .assuming we pay a quarterly dividend of $ 0.21 per share and there is no significant change in the number of outstanding shares as of december 31 , 2017 , we would expect to pay approximately $ 320.0 over the next twelve months. .
|
what are the total current liabilities at the end of 2017?
|
86.9
|
{
"answer": "86.9",
"decimal": 86.9,
"type": "float"
}
| |
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 is the ratio of total cash to total long-term debt?
|
1:50
|
{
"answer": "1:50",
"decimal": 0.02,
"type": "open_ended_answer"
}
|
turn 0.02 into ratio form
|
amount of commitment expiration per period other commercial commitments after millions total 2013 2014 2015 2016 2017 2017 .
[['other commercial commitmentsmillions', 'total', 'amount of commitment expiration per period 2013', 'amount of commitment expiration per period 2014', 'amount of commitment expiration per period 2015', 'amount of commitment expiration per period 2016', 'amount of commitment expiration per period 2017', 'amount of commitment expiration per period after 2017'], ['credit facilities [a]', '$ 1800', '$ -', '$ -', '$ 1800', '$ -', '$ -', '$ -'], ['receivables securitization facility [b]', '600', '600', '-', '-', '-', '-', '-'], ['guarantees [c]', '307', '8', '214', '12', '30', '10', '33'], ['standby letters of credit [d]', '25', '24', '1', '-', '-', '-', '-'], ['total commercialcommitments', '$ 2732', '$ 632', '$ 215', '$ 1812', '$ 30', '$ 10', '$ 33']]
[a] none of the credit facility was used as of december 31 , 2012 .[b] $ 100 million of the receivables securitization facility was utilized at december 31 , 2012 , which is accounted for as debt .the full program matures in july 2013 .[c] includes guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations .[d] none of the letters of credit were drawn upon as of december 31 , 2012 .off-balance sheet arrangements guarantees 2013 at december 31 , 2012 , we were contingently liable for $ 307 million in guarantees .we have recorded a liability of $ 2 million for the fair value of these obligations as of december 31 , 2012 and 2011 .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 .other matters labor agreements 2013 approximately 86% ( 86 % ) of our 45928 full-time-equivalent employees are represented by 14 major rail unions .during the year , we concluded the most recent round of negotiations , which began in 2010 , with the ratification of new agreements by several unions that continued negotiating into 2012 .all of the unions executed similar multi-year agreements that provide for higher employee cost sharing of employee health and welfare benefits and higher wages .the current agreements will remain in effect until renegotiated under provisions of the railway labor act .the next round of negotiations will begin in early 2015 .inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies .as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts .derivative financial instruments 2013 we may use derivative financial instruments in limited instances to assist in managing our overall exposure to fluctuations in interest rates and fuel prices .we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes .derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period .we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness .changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings .we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable price movements .market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item .we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements .at december 31 , 2012 and 2011 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities. .
|
without the receivables securitization facility in 2012 , what would total commitments have been , in millions?\\n
|
2632
|
{
"answer": "2632",
"decimal": 2632,
"type": "float"
}
| |
cash and cash equivalents cash equivalents include highly-liquid investments with a maturity of three months or less when purchased .accounts receivable and allowance for doubtful accounts accounts receivable are carried at the invoiced amounts , less an allowance for doubtful accounts , and generally do not bear interest .the company estimates the balance of allowance for doubtful accounts by analyzing accounts receivable balances by age and applying historical write-off and collection trend rates .the company 2019s estimates include separately providing for customer receivables based on specific circumstances and credit conditions , and when it is deemed probable that the balance is uncollectible .account balances are written off against the allowance when it is determined the receivable will not be recovered .the company 2019s allowance for doubtful accounts balance also includes an allowance for the expected return of products shipped and credits related to pricing or quantities shipped of $ 15 million , $ 14 million and $ 15 million as of december 31 , 2017 , 2016 , and 2015 , respectively .returns and credit activity is recorded directly to sales as a reduction .the following table summarizes the activity in the allowance for doubtful accounts: .
[['( millions )', '2017', '2016', '2015'], ['beginning balance', '$ 67.6', '$ 75.3', '$ 77.5'], ['bad debt expense', '17.1', '20.1', '25.8'], ['write-offs', '-15.7 ( 15.7 )', '-24.6 ( 24.6 )', '-21.9 ( 21.9 )'], ['other ( a )', '2.5', '-3.2 ( 3.2 )', '-6.1 ( 6.1 )'], ['ending balance', '$ 71.5', '$ 67.6', '$ 75.3']]
( a ) other amounts are primarily the effects of changes in currency translations and the impact of allowance for returns and credits .inventory valuations inventories are valued at the lower of cost or net realizable value .certain u.s .inventory costs are determined on a last-in , first-out ( 201clifo 201d ) basis .lifo inventories represented 39% ( 39 % ) and 40% ( 40 % ) of consolidated inventories as of december 31 , 2017 and 2016 , respectively .all other inventory costs are determined using either the average cost or first-in , first-out ( 201cfifo 201d ) methods .inventory values at fifo , as shown in note 5 , approximate replacement cost .property , plant and equipment property , plant and equipment assets are stated at cost .merchandising and customer equipment consists principally of various dispensing systems for the company 2019s cleaning and sanitizing products , dishwashing machines and process control and monitoring equipment .certain dispensing systems capitalized by the company are accounted for on a mass asset basis , whereby equipment is capitalized and depreciated as a group and written off when fully depreciated .the company capitalizes both internal and external costs of development or purchase of computer software for internal use .costs incurred for data conversion , training and maintenance associated with capitalized software are expensed as incurred .expenditures for major renewals and improvements , which significantly extend the useful lives of existing plant and equipment , are capitalized and depreciated .expenditures for repairs and maintenance are charged to expense as incurred .upon retirement or disposition of plant and equipment , the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in income .depreciation is charged to operations using the straight-line method over the assets 2019 estimated useful lives ranging from 5 to 40 years for buildings and leasehold improvements , 3 to 20 years for machinery and equipment , 3 to 15 years for merchandising and customer equipment and 3 to 7 years for capitalized software .the straight-line method of depreciation reflects an appropriate allocation of the cost of the assets to earnings in proportion to the amount of economic benefits obtained by the company in each reporting period .depreciation expense was $ 586 million , $ 561 million and $ 560 million for 2017 , 2016 and 2015 , respectively. .
|
what is the net change in the balance of allowance for doubtful accounts from 2016 to 2017?
|
3.9
|
{
"answer": "3.9",
"decimal": 3.9,
"type": "float"
}
| |
l iquidity and capital resources we have historically generated positive cash flow from operations and have generally used funds generated from operations and short-term borrowings on our revolving credit facility to meet capital requirements .we expect this trend to continue in the future .the company's cash and cash equivalents decreased to $ 65565 at june 30 , 2008 from $ 88617 at june 30 , 2007 .the following table summarizes net cash from operating activities in the statement of cash flows : year ended june 30 cash provided by operations increased $ 6754 to $ 181001 for the fiscal year ended june 30 , 2008 as compared to $ 174247 for the fiscal year ended june 30 , 2007 .this increase is primarily attributable to an increase in expenses that do not have a corresponding cash outflow , such as depreciation and amortization , as a percentage of total net income .cash used in investing activities for the fiscal year ended june 2008 was $ 102148 and includes payments for acquisitions of $ 48109 , plus $ 1215 in contingent consideration paid on prior years 2019 acquisitions .during fiscal 2007 , payments for acquisitions totaled $ 34006 , plus $ 5301 paid on earn-outs and other acquisition adjustments .capital expenditures for fiscal 2008 were $ 31105 compared to $ 34202 for fiscal 2007 .cash used for software development in fiscal 2008 was $ 23736 compared to $ 20743 during the prior year .net cash used in financing activities for the current fiscal year was $ 101905 and includes the repurchase of 4200 shares of our common stock for $ 100996 , the payment of dividends of $ 24683 and $ 429 net repayment on our revolving credit facilities .cash used in financing activities was partially offset by proceeds of $ 20394 from the exercise of stock options and the sale of common stock and $ 3809 excess tax benefits from stock option exercises .during fiscal 2007 , net cash used in financing activities included the repurchase of our common stock for $ 98413 and the payment of dividends of $ 21685 .as in the current year , cash used in fiscal 2007 was partially offset by proceeds from the exercise of stock options and the sale of common stock of $ 29212 , $ 4640 excess tax benefits from stock option exercises and $ 19388 net borrowings on revolving credit facilities .at june 30 , 2008 , the company had negative working capital of $ 11418 ; however , the largest component of current liabilities was deferred revenue of $ 212375 .the cash outlay necessary to provide the services related to these deferred revenues is significantly less than this recorded balance .therefore , we do not anticipate any liquidity problems to result from this condition .u.s .financial markets and many of the largest u.s .financial institutions have recently been shaken by negative developments in the home mortgage industry and the mortgage markets , and particularly the markets for subprime mortgage-backed securities .while we believe it is too early to predict what effect , if any , these developments may have , we have not experienced any significant issues with our current collec- tion efforts , and we believe that any future impact to our liquidity would be minimized by our access to available lines of credit .2008 2007 2006 .
[['2007', 'year ended june 30 2008 2007', 'year ended june 30 2008 2007', 'year ended june 30 2008'], ['net income', '$ 104222', '$ 104681', '$ 89923'], ['non-cash expenses', '70420', '56348', '52788'], ['change in receivables', '-2913 ( 2913 )', '-28853 ( 28853 )', '30413'], ['change in deferred revenue', '5100', '24576', '10561'], ['change in other assets and liabilities', '4172', '17495', '-14247 ( 14247 )'], ['net cash from operating activities', '$ 181001', '$ 174247', '$ 169438']]
.
|
in fiscal 2008 , what percentage of net cash for investment activities came from payments for acquisitions?
|
47%
|
{
"answer": "47%",
"decimal": 0.47,
"type": "percentage"
}
| |
year ended december 31 , 2005 compared to year ended december 31 , 2004 net revenues increased $ 75.9 million , or 37.0% ( 37.0 % ) , to $ 281.1 million in 2005 from $ 205.2 million in 2004 .this increase was the result of increases in both our net sales and license revenues as noted in the product category table below. .
[['( in thousands )', 'year ended december 31 , 2005', 'year ended december 31 , 2004', 'year ended december 31 , $ change', 'year ended december 31 , % ( % ) change'], ['mens', '$ 189596', '$ 151962', '$ 37634', '24.8% ( 24.8 % )'], ['womens', '53500', '28659', '24841', '86.7% ( 86.7 % )'], ['youth', '18784', '12705', '6079', '47.8% ( 47.8 % )'], ['accessories', '9409', '7548', '1861', '24.7% ( 24.7 % )'], ['total net sales', '271289', '200874', '70415', '35.1% ( 35.1 % )'], ['license revenues', '9764', '4307', '5457', '126.7% ( 126.7 % )'], ['total net revenues', '$ 281053', '$ 205181', '$ 75872', '37.0% ( 37.0 % )']]
net sales increased $ 70.4 million , or 35.1% ( 35.1 % ) , to $ 271.3 million in 2005 from $ 200.9 million in 2004 as noted in the table above .the increases in the mens , womens and youth product categories noted above primarily reflect : 2022 continued unit volume growth of our existing products sold to retail customers , while pricing of existing products remained relatively unchanged ; and 2022 new products introduced in 2005 accounted for $ 29.0 million of the increase in net sales which included the metal series , under armour tech-t line and our performance hooded sweatshirt for mens , womens and youth , and our new women 2019s duplicity sports bra .license revenues increased $ 5.5 million to $ 9.8 million in 2005 from $ 4.3 million in 2004 .this increase in license revenues was a result of increased sales by our licensees due to increased distribution , continued unit volume growth and new product offerings .gross profit increased $ 40.5 million to $ 135.9 million in 2005 from $ 95.4 million in 2004 .gross profit as a percentage of net revenues , or gross margin , increased 180 basis points to 48.3% ( 48.3 % ) in 2005 from 46.5% ( 46.5 % ) in 2004 .this net increase in gross margin was primarily driven by the following : 2022 a 70 basis point increase due to the $ 5.5 million increase in license revenues ; 2022 a 240 basis point increase due to lower product costs as a result of greater supplier discounts for increased volume and lower cost sourcing arrangements ; 2022 a 50 basis point decrease driven by larger customer incentives , partially offset by more accurate demand forecasting and better inventory management ; and 2022 a 70 basis point decrease due to higher handling costs to make products to customer specifications for immediate display in their stores and higher overhead costs associated with our quick-turn , special make-up shop , which was instituted in june 2004 .selling , general and administrative expenses increased $ 29.9 million , or 42.7% ( 42.7 % ) , to $ 100.0 million in 2005 from $ 70.1 million in 2004 .as a percentage of net revenues , selling , general and administrative expenses increased to 35.6% ( 35.6 % ) in 2005 from 34.1% ( 34.1 % ) in 2004 .this net increase was primarily driven by the following : 2022 marketing costs increased $ 8.7 million to $ 30.5 million in 2005 from $ 21.8 million in 2004 .the increase in these costs was due to increased advertising costs from our women 2019s media campaign , marketing salaries , and depreciation expense related to our in-store fixture program .as a percentage of net revenues , marketing costs increased slightly to 10.9% ( 10.9 % ) in 2005 from 10.6% ( 10.6 % ) in 2004 due to the increased costs described above. .
|
in 2005 what was the percent of the mens revenues to the total net revenues
|
67.5%
|
{
"answer": "67.5%",
"decimal": 0.675,
"type": "percentage"
}
| |
entergy new orleans , inc .and subsidiaries management 2019s financial discussion and analysis entergy new orleans 2019s receivables from the money pool were as follows as of december 31 for each of the following years. .
[['2016', '2015', '2014', '2013'], ['( in thousands )', '( in thousands )', '( in thousands )', '( in thousands )'], ['$ 14215', '$ 15794', '$ 442', '$ 4737']]
see note 4 to the financial statements for a description of the money pool .entergy new orleans has a credit facility in the amount of $ 25 million scheduled to expire in november 2018 .the credit facility allows entergy new orleans to issue letters of credit against $ 10 million of the borrowing capacity of the facility .as of december 31 , 2016 , there were no cash borrowings and a $ 0.8 million letter of credit was outstanding under the facility .in addition , entergy new orleans is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations under miso .as of december 31 , 2016 , a $ 6.2 million letter of credit was outstanding under entergy new orleans 2019s letter of credit facility .see note 4 to the financial statements for additional discussion of the credit facilities .entergy new orleans obtained authorization from the ferc through october 2017 for short-term borrowings not to exceed an aggregate amount of $ 100 million at any time outstanding .see note 4 to the financial statements for further discussion of entergy new orleans 2019s short-term borrowing limits .the long-term securities issuances of entergy new orleans are limited to amounts authorized by the city council , and the current authorization extends through june 2018 .state and local rate regulation the rates that entergy new orleans charges for electricity and natural gas significantly influence its financial position , results of operations , and liquidity .entergy new orleans is regulated and the rates charged to its customers are determined in regulatory proceedings .a governmental agency , the city council , is primarily responsible for approval of the rates charged to customers .retail rates see 201calgiers asset transfer 201d below for discussion of the transfer from entergy louisiana to entergy new orleans of certain assets that serve algiers customers .in march 2013 , entergy louisiana filed a rate case for the algiers area , which is in new orleans and is regulated by the city council .entergy louisiana requested a rate increase of $ 13 million over three years , including a 10.4% ( 10.4 % ) return on common equity and a formula rate plan mechanism identical to its lpsc request .in january 2014 the city council advisors filed direct testimony recommending a rate increase of $ 5.56 million over three years , including an 8.13% ( 8.13 % ) return on common equity .in june 2014 the city council unanimously approved a settlement that includes the following : 2022 a $ 9.3 million base rate revenue increase to be phased in on a levelized basis over four years ; 2022 recovery of an additional $ 853 thousand annually through a miso recovery rider ; and 2022 the adoption of a four-year formula rate plan requiring the filing of annual evaluation reports in may of each year , commencing may 2015 , with resulting rates being implemented in october of each year .the formula rate plan includes a midpoint target authorized return on common equity of 9.95% ( 9.95 % ) with a +/- 40 basis point bandwidth .the rate increase was effective with bills rendered on and after the first billing cycle of july 2014 .additional compliance filings were made with the city council in october 2014 for approval of the form of certain rate riders , including among others , a ninemile 6 non-fuel cost recovery interim rider , allowing for contemporaneous recovery of capacity .
|
what was the combined amount of receivables for 2013 through 2016 ( in thousands ) from the money pool?
|
35188
|
{
"answer": "35188",
"decimal": 35188,
"type": "float"
}
| |
z i m m e r h o l d i n g s , i n c .a n d s u b s i d i a r i e s 2 0 0 4 f o r m 1 0 - k contractual obligations the company has entered into contracts with various third parties in the normal course of business which will require future payments .the following table illustrates the company 2019s contractual obligations : 2006 2008 2010 and and and contractual obligations total 2005 2007 2009 thereafter .
[['contractual obligations', 'total', '2005', '2006 and 2007', '2008 and 2009', '2010 and thereafter'], ['debt obligations', '$ 651.5', '$ 27.5', '$ 449.0', '$ 175.0', '$ 2013'], ['operating leases', '103.0', '23.5', '34.2', '17.7', '27.6'], ['purchase obligations', '16.1', '15.5', '0.6', '2013', '2013'], ['other long-term liabilities', '420.9', '2013', '135.7', '30.5', '254.7'], ['total contractual obligations', '$ 1191.5', '$ 66.5', '$ 619.5', '$ 223.2', '$ 282.3']]
critical accounting estimates the financial results of the company are affected by the adequate provisions exist for income taxes for all periods and selection and application of accounting policies and methods .jurisdictions subject to review or audit .significant accounting policies which require management 2019s commitments and contingencies 2013 accruals for judgment are discussed below .product liability and other claims are established with excess inventory and instruments 2013 the company internal and external legal counsel based on current must determine as of each balance sheet date how much , if information and historical settlement information for claims , any , of its inventory may ultimately prove to be unsaleable or related fees and for claims incurred but not reported .an unsaleable at its carrying cost .similarly , the company must actuarial model is used by the company to assist also determine if instruments on hand will be put to management in determining an appropriate level of accruals productive use or remain undeployed as a result of excess for product liability claims .historical patterns of claim loss supply .reserves are established to effectively adjust development over time are statistically analyzed to arrive at inventory and instruments to net realizable value .to factors which are then applied to loss estimates in the determine the appropriate level of reserves , the company actuarial model .the amounts established represent evaluates current stock levels in relation to historical and management 2019s best estimate of the ultimate costs that it will expected patterns of demand for all of its products and incur under the various contingencies .instrument systems and components .the basis for the goodwill and intangible assets 2013 the company determination is generally the same for all inventory and evaluates the carrying value of goodwill and indefinite life instrument items and categories except for work-in-progress intangible assets annually , or whenever events or inventory , which is recorded at cost .obsolete or circumstances indicate the carrying value may not be discontinued items are generally destroyed and completely recoverable .the company evaluates the carrying value of written off .management evaluates the need for changes to finite life intangible assets whenever events or circumstances valuation reserves based on market conditions , competitive indicate the carrying value may not be recoverable .offerings and other factors on a regular basis .significant assumptions are required to estimate the fair income taxes 2013 the company estimates income tax value of goodwill and intangible assets , most notably expense and income tax liabilities and assets by taxable estimated future cash flows generated by these assets .jurisdiction .realization of deferred tax assets in each taxable changes to these assumptions could result in the company jurisdiction is dependent on the company 2019s ability to being required to record impairment charges on these assets .generate future taxable income sufficient to realize the benefits .the company evaluates deferred tax assets on an recent accounting pronouncements ongoing basis and provides valuation allowances if it is information about recent accounting pronouncements is determined to be 2018 2018more likely than not 2019 2019 that the deferred tax included in note 2 to the consolidated financial statements , benefit will not be realized .federal income taxes are which are included herein under item 8 .provided on the portion of the income of foreign subsidiaries that is expected to be remitted to the u.s .the company operates within numerous taxing jurisdictions .the company is subject to regulatory review or audit in virtually all of those jurisdictions and those reviews and audits may require extended periods of time to resolve .the company makes use of all available information and makes reasoned judgments regarding matters requiring interpretation in establishing tax expense , liabilities and reserves .the company believes .
|
what percentage of debt obligations are due 2006 and 2007?
|
69%
|
{
"answer": "69%",
"decimal": 0.69,
"type": "percentage"
}
| |
certain reclassifications and format changes have been made to prior years 2019 amounts to conform to the 2015 presentation .b .investments .fixed maturity and equity security investments available for sale , at market value , reflect unrealized appreciation and depreciation , as a result of temporary changes in market value during the period , in shareholders 2019 equity , net of income taxes in 201caccumulated other comprehensive income ( loss ) 201d in the consolidated balance sheets .fixed maturity and equity securities carried at fair value reflect fair value re- measurements as net realized capital gains and losses in the consolidated statements of operations and comprehensive income ( loss ) .the company records changes in fair value for its fixed maturities available for sale , at market value through shareholders 2019 equity , net of taxes in accumulated other comprehensive income ( loss ) since cash flows from these investments will be primarily used to settle its reserve for losses and loss adjustment expense liabilities .the company anticipates holding these investments for an extended period as the cash flow from interest and maturities will fund the projected payout of these liabilities .fixed maturities carried at fair value represent a portfolio of convertible bond securities , which have characteristics similar to equity securities and at times , designated foreign denominated fixed maturity securities , which will be used to settle loss and loss adjustment reserves in the same currency .the company carries all of its equity securities at fair value except for mutual fund investments whose underlying investments are comprised of fixed maturity securities .for equity securities , available for sale , at fair value , the company reflects changes in value as net realized capital gains and losses since these securities may be sold in the near term depending on financial market conditions .interest income on all fixed maturities and dividend income on all equity securities are included as part of net investment income in the consolidated statements of operations and comprehensive income ( loss ) .unrealized losses on fixed maturities , which are deemed other-than-temporary and related to the credit quality of a security , are charged to net income ( loss ) as net realized capital losses .short-term investments are stated at cost , which approximates market value .realized gains or losses on sales of investments are determined on the basis of identified cost .for non- publicly traded securities , market prices are determined through the use of pricing models that evaluate securities relative to the u.s .treasury yield curve , taking into account the issue type , credit quality , and cash flow characteristics of each security .for publicly traded securities , market value is based on quoted market prices or valuation models that use observable market inputs .when a sector of the financial markets is inactive or illiquid , the company may use its own assumptions about future cash flows and risk-adjusted discount rates to determine fair value .retrospective adjustments are employed to recalculate the values of asset-backed securities .each acquisition lot is reviewed to recalculate the effective yield .the recalculated effective yield is used to derive a book value as if the new yield were applied at the time of acquisition .outstanding principal factors from the time of acquisition to the adjustment date are used to calculate the prepayment history for all applicable securities .conditional prepayment rates , computed with life to date factor histories and weighted average maturities , are used to effect the calculation of projected and prepayments for pass-through security types .other invested assets include limited partnerships and rabbi trusts .limited partnerships are accounted for under the equity method of accounting , which can be recorded on a monthly or quarterly lag .c .uncollectible receivable balances .the company provides reserves for uncollectible reinsurance recoverable and premium receivable balances based on management 2019s assessment of the collectability of the outstanding balances .such reserves are presented in the table below for the periods indicated. .
[['( dollars in thousands )', 'years ended december 31 , 2015', 'years ended december 31 , 2014'], ['reinsurance receivables and premium receivables', '$ 22878', '$ 29497']]
.
|
what is the percentage change in the balance of reinsurance receivables and premium receivables from 2014 to 2015?
|
-22.4%
|
{
"answer": "-22.4%",
"decimal": -0.22399999999999998,
"type": "percentage"
}
| |
customary affirmative and negative covenants and events of default for an unsecured financing arrangement , including , among other things , limitations on consolidations , mergers and sales of assets .financial covenants include a maximum leverage ratio of 3.0 to 1.0 and a minimum interest coverage ratio of 3.5 to 1.0 .if we fall below an investment grade credit rating , additional restrictions would result , including restrictions on investments , payment of dividends and stock repurchases .we were in compliance with all covenants under the senior credit facility as of december 31 , 2007 .commitments under the senior credit facility are subject to certain fees , including a facility and a utilization fee .the senior credit facility is rated a- by standard & poor 2019s ratings services and is not rated by moody 2019s investors 2019 service , inc .we also have available uncommitted credit facilities totaling $ 70.4 million .management believes that cash flows from operations , together with available borrowings under the senior credit facility , are sufficient to meet our expected working capital , capital expenditure and debt service needs .should investment opportunities arise , we believe that our earnings , balance sheet and cash flows will allow us to obtain additional capital , if necessary .contractual obligations we have entered into contracts with various third parties in the normal course of business which will require future payments .the following table illustrates our contractual obligations ( in millions ) : contractual obligations total 2008 thereafter .
[['contractual obligations', 'total', '2008', '2009 and 2010', '2011 and 2012', '2013 and thereafter'], ['long-term debt', '$ 104.3', '$ 2013', '$ 2013', '$ 104.3', '$ 2013'], ['operating leases', '134.3', '35.4', '50.0', '28.6', '20.3'], ['purchase obligations', '24.6', '23.2', '1.4', '2013', '2013'], ['long-term income taxes payable', '137.0', '2013', '57.7', '53.9', '25.4'], ['other long-term liabilities', '191.4', '2013', '47.3', '17.1', '127.0'], ['total contractual obligations', '$ 591.6', '$ 58.6', '$ 156.4', '$ 203.9', '$ 172.7']]
total contractual obligations $ 591.6 $ 58.6 $ 156.4 $ 203.9 $ 172.7 critical accounting estimates our financial results are affected by the selection and application of accounting policies and methods .significant accounting policies which require management 2019s judgment are discussed below .excess inventory and instruments 2013 we must determine as of each balance sheet date how much , if any , of our inventory may ultimately prove to be unsaleable or unsaleable at our carrying cost .similarly , we must also determine if instruments on hand will be put to productive use or remain undeployed as a result of excess supply .reserves are established to effectively adjust inventory and instruments to net realizable value .to determine the appropriate level of reserves , we evaluate current stock levels in relation to historical and expected patterns of demand for all of our products and instrument systems and components .the basis for the determination is generally the same for all inventory and instrument items and categories except for work-in-progress inventory , which is recorded at cost .obsolete or discontinued items are generally destroyed and completely written off .management evaluates the need for changes to valuation reserves based on market conditions , competitive offerings and other factors on a regular basis .income taxes fffd we estimate income tax expense and income tax liabilities and assets by taxable jurisdiction .realization of deferred tax assets in each taxable jurisdiction is dependent on our ability to generate future taxable income sufficient to realize the benefits .we evaluate deferred tax assets on an ongoing basis and provide valuation allowances if it is determined to be 201cmore likely than not 201d that the deferred tax benefit will not be realized .federal income taxes are provided on the portion of the income of foreign subsidiaries that is expected to be remitted to the u.s .we operate within numerous taxing jurisdictions .we are subject to regulatory review or audit in virtually all of those jurisdictions and those reviews and audits may require extended periods of time to resolve .we make use of all available information and make reasoned judgments regarding matters requiring interpretation in establishing tax expense , liabilities and reserves .we believe adequate provisions exist for income taxes for all periods and jurisdictions subject to review or audit .commitments and contingencies 2013 accruals for product liability and other claims are established with internal and external legal counsel based on current information and historical settlement information for claims , related fees and for claims incurred but not reported .we use an actuarial model to assist management in determining an appropriate level of accruals for product liability claims .historical patterns of claim loss development over time are statistically analyzed to arrive at factors which are then applied to loss estimates in the actuarial model .the amounts established equate to less than 5 percent of total liabilities and represent management 2019s best estimate of the ultimate costs that we will incur under the various contingencies .goodwill and intangible assets 2013 we evaluate the carrying value of goodwill and indefinite life intangible assets annually , or whenever events or circumstances indicate the carrying value may not be recoverable .we evaluate the carrying value of finite life intangible assets whenever events or circumstances indicate the carrying value may not be recoverable .significant assumptions are required to estimate the fair value of goodwill and intangible assets , most notably estimated future cash flows generated by these assets .as such , these fair valuation measurements use significant unobservable inputs as defined under statement of financial accounting standards no .157 , fair value measurements .changes to these assumptions could require us to record impairment charges on these assets .share-based payment 2013 we account for share-based payment expense in accordance with the fair value z i m m e r h o l d i n g s , i n c .2 0 0 7 f o r m 1 0 - k a n n u a l r e p o r t .
|
what percent of contractual obligations is long term debt?
|
17.63%
|
{
"answer": "17.63%",
"decimal": 0.17629999999999998,
"type": "percentage"
}
| |
entergy arkansas , inc .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 decreased $ 7.7 million primarily due to a higher effective income tax rate , lower other income , and higher other operation and maintenance expenses , substantially offset by higher net revenue , lower depreciation and amortization expenses , and lower interest expense .2010 compared to 2009 net income increased $ 105.7 million primarily due to higher net revenue , a lower effective income tax rate , higher other income , and lower depreciation and amortization expenses , partially offset by higher other operation and maintenance expenses .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', '$ 1216.7'], ['retail electric price', '31.0'], ['ano decommissioning trust', '26.4'], ['transmission revenue', '13.1'], ['volume/weather', '-15.9 ( 15.9 )'], ['net wholesale revenue', '-11.9 ( 11.9 )'], ['capacity acquisition recovery', '-10.3 ( 10.3 )'], ['other', '3.2'], ['2011 net revenue', '$ 1252.3']]
the retail electric price variance is primarily due to a base rate increase effective july 2010 .see note 2 to the financial statements for more discussion of the rate case settlement .the ano decommissioning trust variance is primarily related to the deferral of investment gains from the ano 1 and 2 decommissioning trust in 2010 in accordance with regulatory treatment .the gains resulted in an increase in 2010 in interest and investment income and a corresponding increase in regulatory charges with no effect on net income. .
|
from the increase in net revenue , what percentage is attributed to the change in retail electric price?
|
87.1%
|
{
"answer": "87.1%",
"decimal": 0.871,
"type": "percentage"
}
| |
morgan stanley notes to consolidated financial statements 2014 ( continued ) lending commitments .primary lending commitments are those that are originated by the company whereas secondary lending commitments are purchased from third parties in the market .the commitments include lending commitments that are made to investment grade and non-investment grade companies in connection with corporate lending and other business activities .commitments for secured lending transactions .secured lending commitments are extended by the company to companies and are secured by real estate or other physical assets of the borrower .loans made under these arrangements typically are at variable rates and generally provide for over-collateralization based upon the creditworthiness of the borrower .forward starting reverse repurchase agreements .the company has entered into forward starting securities purchased under agreements to resell ( agreements that have a trade date at or prior to december 31 , 2013 and settle subsequent to period-end ) that are primarily secured by collateral from u.s .government agency securities and other sovereign government obligations .commercial and residential mortgage-related commitments .the company enters into forward purchase contracts involving residential mortgage loans , residential mortgage lending commitments to individuals and residential home equity lines of credit .in addition , the company enters into commitments to originate commercial and residential mortgage loans .underwriting commitments .the company provides underwriting commitments in connection with its capital raising sources to a diverse group of corporate and other institutional clients .other lending commitments .other commitments generally include commercial lending commitments to small businesses and commitments related to securities-based lending activities in connection with the company 2019s wealth management business segment .the company sponsors several non-consolidated investment funds for third-party investors where the company typically acts as general partner of , and investment advisor to , these funds and typically commits to invest a minority of the capital of such funds , with subscribing third-party investors contributing the majority .the company 2019s employees , including its senior officers , as well as the company 2019s directors , may participate on the same terms and conditions as other investors in certain of these funds that the company forms primarily for client investment , except that the company may waive or lower applicable fees and charges for its employees .the company has contractual capital commitments , guarantees , lending facilities and counterparty arrangements with respect to these investment funds .premises and equipment .the company has non-cancelable operating leases covering premises and equipment ( excluding commodities operating leases , shown separately ) .at december 31 , 2013 , future minimum rental commitments under such leases ( net of subleases , principally on office rentals ) were as follows ( dollars in millions ) : year ended operating premises leases .
[['year ended', 'operating premises leases'], ['2014', '$ 672'], ['2015', '656'], ['2016', '621'], ['2017', '554'], ['2018', '481'], ['thereafter', '2712']]
.
|
what is the percentage difference in future minimum rental commitments as of december 31 , 2013 between 2015 and 2016?
|
-5%
|
{
"answer": "-5%",
"decimal": -0.05,
"type": "percentage"
}
| |
stock performance graph : the graph below shows the cumulative total shareholder return assuming the investment of $ 100 , on december 31 , 2011 , and the reinvestment of dividends thereafter , if any , in the company 2019s common stock versus the standard and poor 2019s s&p 500 retail index ( 201cs&p 500 retail index 201d ) and the standard and poor 2019s s&p 500 index ( 201cs&p 500 201d ) . .
[['company/index', 'december 31 , 2011', 'december 31 , 2012', 'december 31 , 2013', 'december 31 , 2014', 'december 31 , 2015', 'december 31 , 2016'], ['o 2019reilly automotive inc .', '$ 100', '$ 112', '$ 161', '$ 241', '$ 317', '$ 348'], ['s&p 500 retail index', '100', '125', '180', '197', '245', '257'], ['s&p 500', '$ 100', '$ 113', '$ 147', '$ 164', '$ 163', '$ 178']]
.
|
what is the total return generated if $ 10 million are invested in s&p500 in 2011 and sold in 2013 , in millions?
|
4.7
|
{
"answer": "4.7",
"decimal": 4.7,
"type": "float"
}
| |
compared to 2007 .we reduced personal injury expense by $ 80 million in 2007 as a result of fewer than expected claims and lower than expected average settlement costs .in 2008 , we reduced personal injury expense and asbestos-related costs $ 82 million based on the results of updated personal injury actuarial studies and a reassessment of our potential liability for resolution of current and future asbestos claims .in addition , environmental and toxic tort expenses were $ 7 million lower in 2008 compared to 2007 .other costs were lower in 2007 compared to 2006 driven primarily by a reduction in personal injury expense .actuarial studies completed during 2007 resulted in a reduction in personal injury expense of $ 80 million , which was partially offset by an adverse development with respect to one claim .settlement of insurance claims in 2007 related to hurricane rita , and higher equity income also drove expenses lower in 2007 versus 2006 .conversely , the year-over-year comparison was affected by the settlement of insurance claims totaling $ 23 million in 2006 related to the january 2005 west coast storm and a $ 9 million gain in 2006 from the sale of two company-owned airplanes .non-operating items millions of dollars 2008 2007 2006 % ( % ) change 2008 v 2007 % ( % ) change 2007 v 2006 .
[['millions of dollars', '2008', '2007', '2006', '% ( % ) change 2008 v 2007', '% ( % ) change 2007 v 2006'], ['other income', '$ 92', '$ 116', '$ 118', '( 21 ) % ( % )', '( 2 ) % ( % )'], ['interest expense', '-511 ( 511 )', '-482 ( 482 )', '-477 ( 477 )', '6', '1'], ['income taxes', '-1318 ( 1318 )', '-1154 ( 1154 )', '-919 ( 919 )', '14 % ( % )', '26 % ( % )']]
other income 2013 other income decreased in 2008 compared to 2007 due to lower gains from real estate sales and decreased returns on cash investments reflecting lower interest rates .higher rental and licensing income and lower interest expense on our sale of receivables program partially offset the decreases .lower net gains from non-operating asset sales ( primarily real estate ) drove the reduction in other income in 2007 .recognition of rental income in 2006 from the settlement of a rent dispute also contributed to the year-over-year decrease in other income .cash investment returns increased $ 21 million due to larger cash balances and higher interest rates .interest expense 2013 interest expense increased in 2008 versus 2007 due to a higher weighted-average debt level of $ 8.3 billion , compared to $ 7.3 billion in 2007 .a lower effective interest rate of 6.1% ( 6.1 % ) in 2008 , compared to 6.6% ( 6.6 % ) in 2007 , partially offset the effects of the higher weighted-average debt level .an increase in the weighted-average debt levels to $ 7.3 billion from $ 7.1 billion in 2006 generated higher interest expense in 2007 .a lower effective interest rate of 6.6% ( 6.6 % ) in 2007 , compared to 6.7% ( 6.7 % ) in 2006 , partially offset the effects of the higher debt level .income taxes 2013 income taxes were higher in 2008 compared to 2007 , driven by higher pre-tax income .our effective tax rates were 36.1% ( 36.1 % ) and 38.4% ( 38.4 % ) in 2008 and 2007 , respectively .the lower effective tax rate in 2008 resulted from several reductions in tax expense related to federal audits and state tax law changes .in addition , the effective tax rate in 2007 was increased by illinois legislation that increased deferred tax expense in the third quarter of 2007 .income taxes were $ 235 million higher in 2007 compared to 2006 , due primarily to higher pre-tax income and the effect of new tax legislation in the state of illinois that changed how we determine the amount of our income subject to illinois tax .the illinois legislation increased our deferred tax expense by $ 27 million in 2007 .our effective tax rates were 38.4% ( 38.4 % ) and 36.4% ( 36.4 % ) in 2007 and 2006 , respectively. .
|
in 2008 what was the ratio of the reduction of the personal injury expense and asbestos-related costs to the environmental and toxic tort expenses
|
11.7
|
{
"answer": "11.7",
"decimal": 11.7,
"type": "float"
}
| |
has decreased during the period from 2002 to 2004 , principally due to the increase in earned premium and due to cost containment measures undertaken by management .in business insurance and personal lines , the expense ratio is expected to decrease further in 2005 , largely as a result of expected increases in earned premium .in specialty commercial , the expense ratio is expected to increase slightly in 2005 due to changes in the business mix , most notably the company 2019s decision in the fourth quarter of 2004 to exit the multi-peril crop insurance program which will eliminate significant expense reimbursements from the specialty commercial segment .policyholder dividend ratio : the policyholder dividend ratio is the ratio of policyholder dividends to earned premium .combined ratio : the combined ratio is the sum of the loss and loss adjustment expense ratio , the expense ratio and the policyholder dividend ratio .this ratio is a relative measurement that describes the related cost of losses and expense for every $ 100 of earned premiums .a combined ratio below 100.0 demonstrates underwriting profit ; a combined ratio above 100.0 demonstrates underwriting losses .the combined ratio has decreased from 2003 to 2004 primarily because of improvement in the expense ratio .the combined ratio in 2005 could be significantly higher or lower than the 2004 combined ratio depending on the level of catastrophe losses , but will also be impacted by changes in pricing and an expected moderation in favorable loss cost trends .catastrophe ratio : the catastrophe ratio ( a component of the loss and loss adjustment expense ratio ) represents the ratio of catastrophe losses ( net of reinsurance ) to earned premiums .a catastrophe is an event that causes $ 25 or more in industry insured property losses and affects a significant number of property and casualty policyholders and insurers .by their nature , catastrophe losses vary dramatically from year to year .based on the mix and geographic dispersion of premium written and estimates derived from various catastrophe loss models , the company 2019s expected catastrophe ratio over the long-term is 3.0 points .before considering the reduction in ongoing operation 2019s catastrophe reserves related to september 11 of $ 298 in 2004 , the catastrophe ratio in 2004 was 5.3 points .see 201crisk management strategy 201d below for a discussion of the company 2019s property catastrophe risk management program that serves to mitigate the company 2019s net exposure to catastrophe losses .combined ratio before catastrophes and prior accident year development : the combined ratio before catastrophes and prior accident year development represents the combined ratio for the current accident year , excluding the impact of catastrophes .the company believes this ratio is an important measure of the trend in profitability since it removes the impact of volatile and unpredictable catastrophe losses and prior accident year reserve development .before considering catastrophes , the combined ratio related to current accident year business has improved from 2002 to 2004 principally due to earned pricing increases and favorable claim frequency .other operations underwriting results : the other operations segment is responsible for managing operations of the hartford that have discontinued writing new or renewal business as well as managing the claims related to asbestos and environmental exposures .as such , neither earned premiums nor underwriting ratios are meaningful financial measures .instead , management believes that underwriting result is a more meaningful measure .the net underwriting loss for 2002 through 2004 is primarily due to prior accident year loss development , including $ 2.6 billion of net asbestos reserve strengthening in 2003 .reserve estimates within other operations , including estimates for asbestos and environmental claims , are inherently uncertain .refer to the other operations segment md&a for further discussion of other operation's underwriting results .total property & casualty investment earnings .
[['', '2004', '2003', '2002'], ['investment yield after-tax', '4.1% ( 4.1 % )', '4.2% ( 4.2 % )', '4.5% ( 4.5 % )'], ['net realized capital gains ( losses ) after-tax', '$ 87', '$ 165', '$ -44 ( 44 )']]
the investment return , or yield , on property & casualty 2019s invested assets is an important element of the company 2019s earnings since insurance products are priced with the assumption that premiums received can be invested for a period of time before loss and loss adjustment expenses are paid .for longer tail lines , such as workers 2019 compensation and general liability , claims are paid over several years and , therefore , the premiums received for these lines of business can generate significant investment income .him determines the appropriate allocation of investments by asset class and measures the investment yield performance for each asset class against market indices or other benchmarks .due to the emphasis on preservation of capital and the need to maintain sufficient liquidity to satisfy claim obligations , the vast majority of property and casualty 2019s invested assets have been held in fixed maturities , including , among other asset classes , corporate bonds , municipal bonds , government debt , short-term debt , mortgage- .
|
what is the total net realized gain for the last three years?
|
208
|
{
"answer": "208",
"decimal": 208,
"type": "float"
}
| |
notes to consolidated financial statements of annual compensation was made .for the years ended december 31 , 2009 , 2008 and , 2007 , we made matching contributions of approxi- mately $ 450000 , $ 503000 and $ 457000 , respectively .note 17 / commitments and contingencies we and our operating partnership are not presently involved in any mate- rial litigation nor , to our knowledge , is any material litigation threatened against us or our properties , other than routine litigation arising in the ordinary course of business .management believes the costs , if any , incurred by us and our operating partnership related to this litigation will not materially affect our financial position , operating results or liquidity .we have entered into employment agreements with certain executives , which expire between june 2010 and january 2013 .the minimum cash-based compensation , including base salary and guaran- teed bonus payments , associated with these employment agreements totals approximately $ 7.8 million for 2010 .in march 1998 , we acquired an operating sub-leasehold posi- tion at 420 lexington avenue .the operating sub-leasehold position required annual ground lease payments totaling $ 6.0 million and sub- leasehold position payments totaling $ 1.1 million ( excluding an operating sub-lease position purchased january 1999 ) .in june 2007 , we renewed and extended the maturity date of the ground lease at 420 lexington avenue through december 31 , 2029 , with an option for further exten- sion through 2080 .ground lease rent payments through 2029 will total approximately $ 10.9 million per year .thereafter , the ground lease will be subject to a revaluation by the parties thereto .in june 2009 , we acquired an operating sub-leasehold posi- tion at 420 lexington avenue for approximately $ 7.7 million .these sub-leasehold positions were scheduled to mature in december 2029 .in october 2009 , we acquired the remaining sub-leasehold position for $ 7.6 million .the property located at 711 third avenue operates under an operating sub-lease , which expires in 2083 .under the sub-lease , we are responsible for ground rent payments of $ 1.55 million annually through july 2011 on the 50% ( 50 % ) portion of the fee we do not own .the ground rent is reset after july 2011 based on the estimated fair market value of the property .we have an option to buy out the sub-lease at a fixed future date .the property located at 461 fifth avenue operates under a ground lease ( approximately $ 2.1 million annually ) with a term expiration date of 2027 and with two options to renew for an additional 21 years each , followed by a third option for 15 years .we also have an option to purchase the ground lease for a fixed price on a specific date .the property located at 625 madison avenue operates under a ground lease ( approximately $ 4.6 million annually ) with a term expiration date of 2022 and with two options to renew for an additional 23 years .the property located at 1185 avenue of the americas oper- ates under a ground lease ( approximately $ 8.5 million in 2010 and $ 6.9 million annually thereafter ) with a term expiration of 2020 and with an option to renew for an additional 23 years .in april 1988 , the sl green predecessor entered into a lease agreement for the property at 673 first avenue , which has been capitalized for financial statement purposes .land was estimated to be approximately 70% ( 70 % ) of the fair market value of the property .the portion of the lease attributed to land is classified as an operating lease and the remainder as a capital lease .the initial lease term is 49 years with an option for an additional 26 years .beginning in lease years 11 and 25 , the lessor is entitled to additional rent as defined by the lease agreement .we continue to lease the 673 first avenue property , which has been classified as a capital lease with a cost basis of $ 12.2 million and cumulative amortization of $ 5.5 million and $ 5.2 million at december 31 , 2009 and 2008 , respectively .the following is a schedule of future minimum lease payments under capital leases and noncancellable operating leases with initial terms in excess of one year as of december 31 , 2009 ( in thousands ) : non-cancellable december 31 , capital lease operating leases .
[['december 31,', 'capital lease', 'non-cancellable operating leases'], ['2010', '$ 1451', '$ 31347'], ['2011', '1555', '28929'], ['2012', '1555', '28179'], ['2013', '1555', '28179'], ['2014', '1555', '28179'], ['thereafter', '45649', '580600'], ['total minimum lease payments', '53320', '$ 725413'], ['less amount representing interest', '-36437 ( 36437 )', ''], ['present value of net minimum lease payments', '$ 16883', '']]
note 18 / financial instruments : derivatives and hedging we recognize all derivatives on the balance sheet at fair value .derivatives that are not hedges must be adjusted to fair value through income .if a derivative is a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earn- ings , or recognized in other comprehensive income until the hedged item is recognized in earnings .the ineffective portion of a derivative 2019s change in fair value will be immediately recognized in earnings .reported net income and stockholders 2019 equity may increase or decrease prospectively , depending on future levels of interest rates and other variables affecting the fair values of derivative instruments and hedged items , but will have no effect on cash flows. .
|
assuming all options are exercised on 625 madison avenue , what year will the current agreement expire?
|
2068
|
{
"answer": "2068",
"decimal": 2068,
"type": "float"
}
| |
zimmer holdings , inc .2013 form 10-k annual report notes to consolidated financial statements ( continued ) state income tax returns are generally subject to examination for a period of 3 to 5 years after filing of the respective return .the state impact of any federal changes generally remains subject to examination by various states for a period of up to one year after formal notification to the states .we have various state income tax returns in the process of examination , administrative appeals or litigation .our tax returns are currently under examination in various foreign jurisdictions .foreign jurisdictions have statutes of limitations generally ranging from 3 to 5 years .years still open to examination by foreign tax authorities in major jurisdictions include : australia ( 2009 onward ) , canada ( 2007 onward ) , france ( 2011 onward ) , germany ( 2009 onward ) , ireland ( 2009 onward ) , italy ( 2010 onward ) , japan ( 2010 onward ) , korea ( 2008 onward ) , puerto rico ( 2008 onward ) , switzerland ( 2012 onward ) , and the united kingdom ( 2012 onward ) .16 .capital stock and earnings per share we are authorized to issue 250 million shares of preferred stock , none of which were issued or outstanding as of december 31 , 2013 .the numerator for both basic and diluted earnings per share is net earnings available to common stockholders .the denominator for basic earnings per share is the weighted average number of common shares outstanding during the period .the denominator for diluted earnings per share is weighted average shares outstanding adjusted for the effect of dilutive stock options and other equity awards .the following is a reconciliation of weighted average shares for the basic and diluted share computations ( in millions ) : .
[['for the years ended december 31,', '2013', '2012', '2011'], ['weighted average shares outstanding for basic net earnings per share', '169.6', '174.9', '187.6'], ['effect of dilutive stock options and other equity awards', '2.2', '1.1', '1.1'], ['weighted average shares outstanding for diluted net earnings per share', '171.8', '176.0', '188.7']]
weighted average shares outstanding for basic net earnings per share 169.6 174.9 187.6 effect of dilutive stock options and other equity awards 2.2 1.1 1.1 weighted average shares outstanding for diluted net earnings per share 171.8 176.0 188.7 for the year ended december 31 , 2013 , an average of 3.1 million options to purchase shares of common stock were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of the common stock .for the years ended december 31 , 2012 and 2011 , an average of 11.9 million and 13.2 million options , respectively , were not included .during 2013 , we repurchased 9.1 million shares of our common stock at an average price of $ 78.88 per share for a total cash outlay of $ 719.0 million , including commissions .effective january 1 , 2014 , we have a new share repurchase program that authorizes purchases of up to $ 1.0 billion with no expiration date .no further purchases will be made under the previous share repurchase program .17 .segment data we design , develop , manufacture and market orthopaedic reconstructive implants , biologics , dental implants , spinal implants , trauma products and related surgical products which include surgical supplies and instruments designed to aid in surgical procedures and post-operation rehabilitation .we also provide other healthcare-related services .we manage operations through three major geographic segments 2013 the americas , which is comprised principally of the u.s .and includes other north , central and south american markets ; europe , which is comprised principally of europe and includes the middle east and african markets ; and asia pacific , which is comprised primarily of japan and includes other asian and pacific markets .this structure is the basis for our reportable segment information discussed below .management evaluates reportable segment performance based upon segment operating profit exclusive of operating expenses pertaining to share-based payment expense , inventory step-up and certain other inventory and manufacturing related charges , 201ccertain claims , 201d goodwill impairment , 201cspecial items , 201d and global operations and corporate functions .global operations and corporate functions include research , development engineering , medical education , brand management , corporate legal , finance , and human resource functions , u.s. , puerto rico and ireland-based manufacturing operations and logistics and intangible asset amortization resulting from business combination accounting .intercompany transactions have been eliminated from segment operating profit .management reviews accounts receivable , inventory , property , plant and equipment , goodwill and intangible assets by reportable segment exclusive of u.s. , puerto rico and ireland-based manufacturing operations and logistics and corporate assets. .
|
what was the change in millions of weighted average shares outstanding for diluted net earnings per share between 2011 and 2012?
|
-12.7
|
{
"answer": "-12.7",
"decimal": -12.7,
"type": "float"
}
| |
during 2012 , the company granted selected employees an aggregate of 139 thousand rsus with internal performance measures and , separately , certain market thresholds .these awards vested in january 2015 .the terms of the grants specified that to the extent certain performance goals , comprised of internal measures and , separately , market thresholds were achieved , the rsus would vest ; if performance goals were surpassed , up to 175% ( 175 % ) of the target awards would be distributed ; and if performance goals were not met , the awards would be forfeited .in january 2015 , an additional 93 thousand rsus were granted and distributed because performance thresholds were exceeded .in 2015 , 2014 and 2013 , the company granted rsus , both with and without performance conditions , to certain employees under the 2007 plan .the rsus without performance conditions vest ratably over the three- year service period beginning january 1 of the year of the grant and the rsus with performance conditions vest ratably over the three-year performance period beginning january 1 of the year of the grant ( the 201cperformance period 201d ) .distribution of the performance shares is contingent upon the achievement of internal performance measures and , separately , certain market thresholds over the performance period .during 2015 , 2014 and 2013 , the company granted rsus to non-employee directors under the 2007 plan .the rsus vested on the date of grant ; however , distribution of the shares will be made within 30 days of the earlier of : ( i ) 15 months after grant date , subject to any deferral election by the director ; or ( ii ) the participant 2019s separation from service .because these rsus vested on the grant date , the total grant date fair value was recorded in operation and maintenance expense included in the expense table above on the grant date .rsus generally vest over periods ranging from one to three years .rsus granted with service-only conditions and those with internal performance measures are valued at the market value of the closing price of the company 2019s common stock on the date of grant .rsus granted with market conditions are valued using a monte carlo model .expected volatility is based on historical volatilities of traded common stock of the company and comparative companies using daily stock prices over the past three years .the expected term is three years and the risk-free interest rate is based on the three-year u.s .treasury rate in effect as of the measurement date .the following table presents the weighted-average assumptions used in the monte carlo simulation and the weighted-average grant date fair values of rsus granted for the years ended december 31: .
[['', '2015', '2014', '2013'], ['expected volatility', '14.93% ( 14.93 % )', '17.78% ( 17.78 % )', '19.37% ( 19.37 % )'], ['risk-free interest rate', '1.07% ( 1.07 % )', '0.75% ( 0.75 % )', '0.40% ( 0.40 % )'], ['expected life ( years )', '3.0', '3.0', '3.0'], ['grant date fair value per share', '$ 62.10', '$ 45.45', '$ 40.13']]
the grant date fair value of restricted stock awards that vest ratably and have market and/or performance and service conditions are amortized through expense over the requisite service period using the graded-vesting method .rsus that have no performance conditions are amortized through expense over the requisite service period using the straight-line method and are included in operations expense in the accompanying consolidated statements of operations .as of december 31 , 2015 , $ 4 of total unrecognized compensation cost related to the nonvested restricted stock units is expected to be recognized over the weighted-average remaining life of 1.4 years .the total grant date fair value of rsus vested was $ 12 , $ 11 and $ 9 for the years ended december 31 , 2015 , 2014 and 2013. .
|
by what percentage did grant date fair value per share increase from 2013 to 2015?
|
54.7%
|
{
"answer": "54.7%",
"decimal": 0.547,
"type": "percentage"
}
| |
ireland .holdings ireland , everest dublin holdings , ireland re and ireland insurance conduct business in ireland and are subject to taxation in ireland .aavailable 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.everestre.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 and private 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 in recent years .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 .by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of reinsurance , were as follows: .
[['calendar year:', 'pre-tax catastrophe losses'], ['( dollars in millions )', ''], ['2018', '$ 1800.2'], ['2017', '1472.6'], ['2016', '301.2'], ['2015', '53.8'], ['2014', '56.3']]
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 three years?
|
3574
|
{
"answer": "3574",
"decimal": 3574,
"type": "float"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements assessments in each of the tax jurisdictions resulting from these examinations .the company believes that adequate provisions have been made for income taxes for all periods through december 31 , 2010 .12 .stock-based compensation the company recognized stock-based compensation of $ 52.6 million , $ 60.7 million and $ 54.8 million for the years ended december 31 , 2010 , 2009 and 2008 , respectively .stock-based compensation for the year ended december 31 , 2009 included $ 6.9 million related to the modification of the vesting and exercise terms for certain employee 2019s equity awards .the company did not capitalize any stock-based compensation during the years ended december 31 , 2010 and 2009 .summary of stock-based compensation plans 2014the company maintains equity incentive plans that provide for the grant of stock-based awards to its directors , officers and employees .under the 2007 equity incentive plan ( 201c2007 plan 201d ) , which provides for the grant of non-qualified and incentive stock options , as well as restricted stock units , restricted stock and other stock-based awards , exercise prices in the case of non-qualified and incentive stock options are not less than the fair market value of the underlying common stock on the date of grant .equity awards typically vest ratably over various periods , generally four years , and generally expire ten years from the date of grant .stock options 2014as of december 31 , 2010 , the company had the ability to grant stock-based awards with respect to an aggregate of 22.0 million shares of common stock under the 2007 plan .the fair value of each option grant is estimated on the date of grant using the black-scholes option pricing model based on the assumptions noted in the table below .the risk-free treasury rate is based on the u.s .treasury yield in effect at the accounting measurement date .the expected life ( estimated period of time outstanding ) was estimated using the vesting term and historical exercise behavior of company employees .the expected volatility was based on historical volatility for a period equal to the expected life of the stock options .key assumptions used to apply this pricing model are as follows: .
[['', '2010', '2009', '2008'], ['range of risk-free interest rate', '1.41% ( 1.41 % ) 2013 2.39% ( 2.39 % )', '1.41% ( 1.41 % ) 2013 2.04% ( 2.04 % )', '1.44% ( 1.44 % ) 2013 3.05% ( 3.05 % )'], ['weighted average risk-free interest rate', '2.35% ( 2.35 % )', '1.71% ( 1.71 % )', '1.89% ( 1.89 % )'], ['expected life of option grants', '4.60 years', '4.00 years', '4.00 years'], ['range of expected volatility of underlying stock price', '37.11% ( 37.11 % ) 2013 37.48% ( 37.48 % )', '36.00% ( 36.00 % ) 2013 36.63% ( 36.63 % )', '28.51% ( 28.51 % ) 2013 35.30% ( 35.30 % )'], ['weighted average expected volatility of underlying stock price', '37.14% ( 37.14 % )', '36.23% ( 36.23 % )', '29.10% ( 29.10 % )'], ['expected annual dividends', 'n/a', 'n/a', 'n/a']]
the weighted average grant date fair value per share during the years ended december 31 , 2010 , 2009 and 2008 was $ 15.03 , $ 8.90 and $ 9.55 , respectively .the intrinsic value of stock options exercised during the years ended december 31 , 2010 , 2009 and 2008 was $ 62.7 million , $ 40.1 million and $ 99.1 million , respectively .as of december 31 , 2010 , total unrecognized compensation expense related to unvested stock options was approximately $ 27.7 million and is expected to be recognized over a weighted average period of approximately two years .the amount of cash received from the exercise of stock options was approximately $ 129.1 million during the year ended december 31 , 2010 .during the year ended december 31 , 2010 , the company realized approximately $ 0.3 million of state tax benefits from the exercise of stock options. .
|
what is the percentage change in the intrinsic value of stock options from 2007 to 2008?
|
-59.5%
|
{
"answer": "-59.5%",
"decimal": -0.595,
"type": "percentage"
}
| |
vornado realty trust notes to consolidated financial statements ( continued ) 20 .leases as lessor : we lease space to tenants under operating leases .most of the leases provide for the payment of fixed base rentals payable monthly in advance .office building leases generally require the tenants to reimburse us for operating costs and real estate taxes above their base year costs .shopping center leases provide for pass-through to tenants the tenant 2019s share of real estate taxes , insurance and maintenance .shopping center leases also provide for the payment by the lessee of additional rent based on a percentage of the tenants 2019 sales .as of december 31 , 2012 , future base rental revenue under non-cancelable operating leases , excluding rents for leases with an original term of less than one year and rents resulting from the exercise of renewal options , are as follows : ( amounts in thousands ) year ending december 31: .
[['2013', '$ 1842355'], ['2014', '1738439'], ['2015', '1578559'], ['2016', '1400020'], ['2017', '1249904'], ['thereafter', '6134903']]
these amounts do not include percentage rentals based on tenants 2019 sales .these percentage rents approximated $ 8466000 , $ 7995000 and $ 7339000 , for the years ended december 31 , 2012 , 2011 and 2010 , respectively .none of our tenants accounted for more than 10% ( 10 % ) of total revenues in any of the years ended december 31 , 2012 , 2011 and 2010 .former bradlees locations pursuant to a master agreement and guaranty , dated may 1 , 1992 , we were due $ 5000000 of annual rent from stop & shop which was allocated to certain bradlees former locations .on december 31 , 2002 , prior to the expiration of the leases to which the additional rent was allocated , we reallocated this rent to other former bradlees leases also guaranteed by stop & shop .stop & shop contested our right to reallocate the rent .on november 7 , 2011 , the court determined that we had a continuing right to allocate the annual rent to unexpired leases covered by the master agreement and guaranty and directed entry of a judgment in our favor ordering stop & shop to pay us the unpaid annual rent .at december 31 , 2012 , we had a $ 47900000 receivable from stop and shop , which is included as a component of 201ctenant and other receivables 201d on our consolidated balance sheet .on february 6 , 2013 , we received $ 124000000 pursuant to a settlement agreement with stop & shop ( see note 22 2013 commitments and contingencies 2013 litigation ) . .
|
for future base rental revenue under non-cancelable operating leases , excluding rents for leases with an original term of less than one year and rents resulting from the exercise of renewal options , in thousands , what was the change between 2016 and 2017?
|
150116
|
{
"answer": "150116",
"decimal": 150116,
"type": "float"
}
| |
goodwill is reviewed annually during the fourth quarter for impairment .in addition , the company performs an impairment analysis of other intangible assets based on the occurrence of other factors .such factors include , but are not limited to , signifi- cant changes in membership , state funding , medical contracts and provider networks and contracts .an impairment loss is rec- ognized if the carrying value of intangible assets exceeds the implied fair value .the company did not recognize any impair- ment losses for the periods presented .medical claims liabilities medical services costs include claims paid , claims reported but not yet paid ( inventory ) , estimates for claims incurred but not yet received ( ibnr ) and estimates for the costs necessary to process unpaid claims .the estimates of medical claims liabilities are developed using standard actuarial methods based upon historical data for payment patterns , cost trends , product mix , seasonality , utiliza- tion of healthcare services and other relevant factors including product changes .these estimates are continually reviewed and adjustments , if necessary , are reflected in the period known .management did not change actuarial methods during the years presented .management believes the amount of medical claims payable is reasonable and adequate to cover the company 2019s liabil- ity for unpaid claims as of december 31 , 2005 ; however , actual claim payments may differ from established estimates .revenue recognition the majority of the company 2019s medicaid managed care premi- um revenue is received monthly based on fixed rates per member as determined by state contracts .some contracts allow for addi- tional premium related to certain supplemental services provided such as maternity deliveries .revenue is recognized as earned over the covered period of services .revenues are recorded based on membership and eligibility data provided by the states , which may be adjusted by the states for updates to this membership and eligibility data .these adjustments are immaterial in relation to total revenue recorded and are reflected in the period known .premiums collected in advance are recorded as unearned revenue .the specialty services segment generates revenue under con- tracts with state and local government entities , our health plans and third-party customers .revenues for services are recognized when the services are provided or as ratably earned over the cov- ered period of services .for performance-based contracts , the company does not recognize revenue subject to refund until data is sufficient to measure performance .such amounts are recorded as unearned revenue .revenues due to the company are recorded as premium and related receivables and recorded net of an allowance for uncol- lectible accounts based on historical trends and management 2019s judgment on the collectibility of these accounts .activity in the allowance for uncollectible accounts for the years ended december 31 is summarized below: .
[['', '2005', '2004', '2003'], ['allowances beginning of year', '$ 462', '$ 607', '$ 219'], ['amounts charged to expense', '80', '407', '472'], ['write-offs of uncollectible receivables', '-199 ( 199 )', '-552 ( 552 )', '-84 ( 84 )'], ['allowances end of year', '$ 343', '$ 462', '$ 607']]
significant customers centene receives the majority of its revenues under contracts or subcontracts with state medicaid managed care programs .the contracts , which expire on various dates between june 30 , 2006 and august 31 , 2008 , are expected to be renewed .contracts with the states of indiana , kansas , texas and wisconsin each accounted for 18% ( 18 % ) , 12% ( 12 % ) , 22% ( 22 % ) and 23% ( 23 % ) , respectively , of the company 2019s revenues for the year ended december 31 , 2005 .reinsurance centene has purchased reinsurance from third parties to cover eligible healthcare services .the current reinsurance program covers 90% ( 90 % ) of inpatient healthcare expenses in excess of annual deductibles of $ 300 per member , up to a lifetime maximum of $ 2000 .centene 2019s medicaid managed care subsidiaries are respon- sible for inpatient charges in excess of an average daily per diem .reinsurance recoveries were $ 4014 , $ 3730 , and $ 5345 , in 2005 , 2004 , and 2003 , respectively .reinsurance expenses were approximately $ 4105 , $ 6724 , and $ 6185 in 2005 , 2004 , and 2003 , respectively .reinsurance recoveries , net of expenses , are included in medical costs .other income ( expense ) other income ( expense ) consists principally of investment income and interest expense .investment income is derived from the company 2019s cash , cash equivalents , restricted deposits and investments .interest expense relates to borrowings under our credit facility , mortgage interest , interest on capital leases and credit facility fees .income taxes deferred tax assets and liabilities are recorded for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases .deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled .the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date of the tax rate change .valuation allowances are provided when it is considered more likely than not that deferred tax assets will not be realized .in determining if a deductible temporary difference or net operating loss can be realized , the company considers future reversals of .
|
what was the percentage change in the allowance for uncollectible accounts from year end 2004 to 2005?
|
-26%
|
{
"answer": "-26%",
"decimal": -0.26,
"type": "percentage"
}
| |
notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) debt transactions see note 6 for further information regarding the company 2019s acquisition of acxiom ( the 201cacxiom acquisition 201d ) on october 1 , 2018 ( the 201cclosing date 201d ) .senior notes on september 21 , 2018 , in order to fund the acxiom acquisition and related fees and expenses , we issued a total of $ 2000.0 in aggregate principal amount of unsecured senior notes ( in four separate series of $ 500.0 each , together , the 201csenior notes 201d ) .upon issuance , the senior notes were reflected on our consolidated balance sheets net of discount of $ 5.8 and net of the capitalized debt issuance costs , including commissions and offering expenses of $ 16.1 , both of which will be amortized in interest expense through the respective maturity dates of each series of senior notes using the effective interest method .interest is payable semi-annually in arrears on april 1st and october 1st of each year , commencing on april 1 , 2019 .the issuance was comprised of the following four series of notes : senior notes par value discount at issuance net price at issuance issuance cost net proceeds .
[['senior notes', 'par value', 'discount at issuance', 'net price at issuance', 'issuance cost', 'net proceeds'], ['3.50% ( 3.50 % ) senior notes due 2020', '$ 500.0', '$ 1.0', '$ 499.0', '$ 2.9', '$ 496.1'], ['3.75% ( 3.75 % ) senior notes due 2021', '500.0', '0.3', '499.7', '3.2', '496.5'], ['4.65% ( 4.65 % ) senior notes due 2028', '500.0', '1.7', '498.3', '4.4', '493.9'], ['5.40% ( 5.40 % ) senior notes due 2048', '500.0', '2.8', '497.2', '5.6', '491.6'], ['total', '$ 2000.0', '$ 5.8', '$ 1994.2', '$ 16.1', '$ 1978.1']]
consistent with our other debt securities , the newly issued senior notes include covenants that , among other things , limit our liens and the liens of certain of our consolidated subsidiaries , but do not require us to maintain any financial ratios or specified levels of net worth or liquidity .we may redeem each series of the senior notes at any time in whole or from time to time in part in accordance with the provisions of the indenture , including the applicable supplemental indenture , under which such series of senior notes was issued .if the acxiom acquisition had been terminated or had not closed on or prior to june 30 , 2019 , we would have been required to redeem the senior notes due 2020 , 2021 and 2028 at a redemption price equal to 101% ( 101 % ) of the principal amount thereof , plus accrued and unpaid interest .additionally , upon the occurrence of a change of control repurchase event with respect to the senior notes , each holder of the senior notes has the right to require the company to purchase that holder 2019s senior notes at a price equal to 101% ( 101 % ) of the principal amount thereof , plus accrued and unpaid interest , unless the company has exercised its option to redeem all the senior notes .term loan agreement on october 1 , 2018 , in order to fund the acxiom acquisition and related fees and expenses , we borrowed $ 500.0 through debt financing arrangements with third-party lenders under a three-year term loan agreement ( the 201cterm loan agreement 201d ) , $ 100.0 of which we paid down on december 3 , 2018 .consistent with our other debt securities , the term loan agreement includes covenants that , among other things , limit our liens and the liens of certain of our consolidated subsidiaries .in addition , it requires us to maintain the same financial maintenance covenants as discussed below .loans under the term loan bear interest at a variable rate based on , at the company 2019s option , either the base rate or the eurodollar rate ( each as defined in the term loan agreement ) plus an applicable margin that is determined based on our credit ratings .as of december 31 , 2018 , the applicable margin was 0.25% ( 0.25 % ) for base rate loans and 1.25% ( 1.25 % ) for eurodollar rate loans. .
|
what was the percentage of issuance costs attributable to the senior notes due 2021
|
19.9%
|
{
"answer": "19.9%",
"decimal": 0.19899999999999998,
"type": "percentage"
}
| |
part iii item 10 .directors , executive officers and corporate governance the information required by this item is incorporated by reference to the 201celection of directors 201d section , the 201cdirector selection process 201d section , the 201ccode of conduct 201d section , the 201cprincipal committees of the board of directors 201d section , the 201caudit committee 201d section and the 201csection 16 ( a ) beneficial ownership reporting compliance 201d section of the proxy statement for the annual meeting of stockholders to be held on may 21 , 2015 ( the 201cproxy statement 201d ) , except for the description of our executive officers , which appears in part i of this report on form 10-k under the heading 201cexecutive officers of ipg . 201d new york stock exchange certification in 2014 , our chief executive officer provided the annual ceo certification to the new york stock exchange , as required under section 303a.12 ( a ) of the new york stock exchange listed company manual .item 11 .executive compensation the information required by this item is incorporated by reference to the 201cexecutive compensation 201d section , the 201cnon- management director compensation 201d section , the 201ccompensation discussion and analysis 201d section and the 201ccompensation and leadership talent committee report 201d section of the proxy statement .item 12 .security ownership of certain beneficial owners and management and related stockholder matters the information required by this item is incorporated by reference to the 201coutstanding shares and ownership of common stock 201d section of the proxy statement , except for information regarding the shares of common stock to be issued or which may be issued under our equity compensation plans as of december 31 , 2014 , which is provided in the following table .equity compensation plan information plan category number of shares of common stock to be issued upon exercise of outstanding options , warrants and rights ( a ) 123 weighted-average exercise price of outstanding stock options number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ...................15563666 9.70 41661517 equity compensation plans not approved by security holders .................none 1 included a total of 5866475 performance-based share awards made under the 2009 and 2014 performance incentive plans representing the target number of shares of common stock to be issued to employees following the completion of the 2012-2014 performance period ( the 201c2014 ltip share awards 201d ) , the 2013-2015 performance period ( the 201c2015 ltip share awards 201d ) and the 2014-2016 performance period ( the 201c2016 ltip share awards 201d ) , respectively .the computation of the weighted-average exercise price in column ( b ) of this table does not take the 2014 ltip share awards , the 2015 ltip share awards or the 2016 ltip share awards into account .2 included a total of 98877 restricted share units and performance-based awards ( 201cshare unit awards 201d ) which may be settled in shares of common stock or cash .the computation of the weighted-average exercise price in column ( b ) of this table does not take the share unit awards into account .each share unit award actually settled in cash will increase the number of shares of common stock available for issuance shown in column ( c ) .3 ipg has issued restricted cash awards ( 201cperformance cash awards 201d ) , half of which shall be settled in shares of common stock and half of which shall be settled in cash .using the 2014 closing stock price of $ 20.77 , the awards which shall be settled in shares of common stock represent rights to an additional 2721405 shares .these shares are not included in the table above .4 included ( i ) 29045044 shares of common stock available for issuance under the 2014 performance incentive plan , ( ii ) 12181214 shares of common stock available for issuance under the employee stock purchase plan ( 2006 ) and ( iii ) 435259 shares of common stock available for issuance under the 2009 non-management directors 2019 stock incentive plan. .
[['plan category', 'number of shares of common stock to be issued upon exercise of outstanding options warrants and rights ( a ) 123', 'weighted-average exercise price of outstanding stock options ( b )', 'number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c ) 4'], ['equity compensation plans approved by security holders', '15563666', '9.70', '41661517'], ['equity compensation plans not approved by security holders', 'none', '', '']]
part iii item 10 .directors , executive officers and corporate governance the information required by this item is incorporated by reference to the 201celection of directors 201d section , the 201cdirector selection process 201d section , the 201ccode of conduct 201d section , the 201cprincipal committees of the board of directors 201d section , the 201caudit committee 201d section and the 201csection 16 ( a ) beneficial ownership reporting compliance 201d section of the proxy statement for the annual meeting of stockholders to be held on may 21 , 2015 ( the 201cproxy statement 201d ) , except for the description of our executive officers , which appears in part i of this report on form 10-k under the heading 201cexecutive officers of ipg . 201d new york stock exchange certification in 2014 , our chief executive officer provided the annual ceo certification to the new york stock exchange , as required under section 303a.12 ( a ) of the new york stock exchange listed company manual .item 11 .executive compensation the information required by this item is incorporated by reference to the 201cexecutive compensation 201d section , the 201cnon- management director compensation 201d section , the 201ccompensation discussion and analysis 201d section and the 201ccompensation and leadership talent committee report 201d section of the proxy statement .item 12 .security ownership of certain beneficial owners and management and related stockholder matters the information required by this item is incorporated by reference to the 201coutstanding shares and ownership of common stock 201d section of the proxy statement , except for information regarding the shares of common stock to be issued or which may be issued under our equity compensation plans as of december 31 , 2014 , which is provided in the following table .equity compensation plan information plan category number of shares of common stock to be issued upon exercise of outstanding options , warrants and rights ( a ) 123 weighted-average exercise price of outstanding stock options number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ...................15563666 9.70 41661517 equity compensation plans not approved by security holders .................none 1 included a total of 5866475 performance-based share awards made under the 2009 and 2014 performance incentive plans representing the target number of shares of common stock to be issued to employees following the completion of the 2012-2014 performance period ( the 201c2014 ltip share awards 201d ) , the 2013-2015 performance period ( the 201c2015 ltip share awards 201d ) and the 2014-2016 performance period ( the 201c2016 ltip share awards 201d ) , respectively .the computation of the weighted-average exercise price in column ( b ) of this table does not take the 2014 ltip share awards , the 2015 ltip share awards or the 2016 ltip share awards into account .2 included a total of 98877 restricted share units and performance-based awards ( 201cshare unit awards 201d ) which may be settled in shares of common stock or cash .the computation of the weighted-average exercise price in column ( b ) of this table does not take the share unit awards into account .each share unit award actually settled in cash will increase the number of shares of common stock available for issuance shown in column ( c ) .3 ipg has issued restricted cash awards ( 201cperformance cash awards 201d ) , half of which shall be settled in shares of common stock and half of which shall be settled in cash .using the 2014 closing stock price of $ 20.77 , the awards which shall be settled in shares of common stock represent rights to an additional 2721405 shares .these shares are not included in the table above .4 included ( i ) 29045044 shares of common stock available for issuance under the 2014 performance incentive plan , ( ii ) 12181214 shares of common stock available for issuance under the employee stock purchase plan ( 2006 ) and ( iii ) 435259 shares of common stock available for issuance under the 2009 non-management directors 2019 stock incentive plan. .
|
how many combined shares are available under the 2014 incentive plan , the 2009 incentive plan and the 2006 employee stock purchase plan combined?
|
41661517
|
{
"answer": "41661517",
"decimal": 41661517,
"type": "float"
}
| |
the following table discloses purchases of shares of valero 2019s common stock made by us or on our behalf during the fourth quarter of period total number of shares purchased average price paid per share total number of shares not purchased as part of publicly announced plans or programs ( a ) total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( b ) .
[['period', 'total numberof sharespurchased', 'averageprice paidper share', 'total number ofshares notpurchased as part ofpublicly announcedplans or programs ( a )', 'total number ofshares purchased aspart of publiclyannounced plans orprograms', 'approximate dollarvalue of shares thatmay yet be purchasedunder the plans orprograms ( b )'], ['october 2014', '3180678', '$ 46.27', '302005', '2878673', '$ 1.8 billion'], ['november 2014', '2001273', '$ 50.32', '119047', '1882226', '$ 1.7 billion'], ['december 2014', '5120398', '$ 48.56', '2624', '5117774', '$ 1.5 billion'], ['total', '10302349', '$ 48.20', '423676', '9878673', '$ 1.5 billion']]
( a ) the shares reported in this column represent purchases settled in the fourth quarter of 2014 relating to ( i ) our purchases of shares in open-market transactions to meet our obligations under stock-based compensation plans , and ( ii ) our purchases of shares from our employees and non-employee directors in connection with the exercise of stock options , the vesting of restricted stock , and other stock compensation transactions in accordance with the terms of our stock-based compensation plans .( b ) on february 28 , 2008 , we announced that our board of directors approved a $ 3 billion common stock purchase program .this $ 3 billion program has no expiration date. .
|
for the quarter ended december 2014 , what was the percent of the total number of shares purchased as part of publicly announced plans or programs in november
|
19.1%
|
{
"answer": "19.1%",
"decimal": 0.191,
"type": "percentage"
}
| |
note 17 .debt our debt as of december 2 , 2011 and december 3 , 2010 consisted of the following ( in thousands ) : capital lease obligations total debt and capital lease obligations less : current portion debt and capital lease obligations $ 1494627 19681 1514308 $ 1505096 $ 1493969 28492 1522461 $ 1513662 in february 2010 , we issued $ 600.0 million of 3.25% ( 3.25 % ) senior notes due february 1 , 2015 ( the 201c2015 notes 201d ) and $ 900.0 million of 4.75% ( 4.75 % ) senior notes due february 1 , 2020 ( the 201c2020 notes 201d and , together with the 2015 notes , the 201cnotes 201d ) .our proceeds were approximately $ 1.5 billion and were net of an issuance discount of $ 6.6 million .the notes rank equally with our other unsecured and unsubordinated indebtedness .in addition , we incurred issuance costs of approximately $ 10.7 million .both the discount and issuance costs are being amortized to interest expense over the respective terms of the notes using the effective interest method .the effective interest rate including the discount and issuance costs is 3.45% ( 3.45 % ) for the 2015 notes and 4.92% ( 4.92 % ) for the 2020 notes .interest is payable semi-annually , in arrears , on february 1 and august 1 , commencing on august 1 , 2010 .during fiscal 2011 interest payments totaled $ 62.3 million .the proceeds from the notes are available for general corporate purposes , including repayment of any balance outstanding on our credit facility .based on quoted market prices , the fair value of the notes was approximately $ 1.6 billion as of december 2 , 2011 .we may redeem the notes at any time , subject to a make whole premium .in addition , upon the occurrence of certain change of control triggering events , we may be required to repurchase the notes , at a price equal to 101% ( 101 % ) of their principal amount , plus accrued and unpaid interest to the date of repurchase .the notes also include covenants that limit our ability to grant liens on assets and to enter into sale and leaseback transactions , subject to significant allowances .as of december 2 , 2011 , we were in compliance with all of the covenants .credit agreement in august 2007 , we entered into an amendment to our credit agreement dated february 2007 ( the 201camendment 201d ) , which increased the total senior unsecured revolving facility from $ 500.0 million to $ 1.0 billion .the amendment also permits us to request one-year extensions effective on each anniversary of the closing date of the original agreement , subject to the majority consent of the lenders .we also retain an option to request an additional $ 500.0 million in commitments , for a maximum aggregate facility of $ 1.5 billion .in february 2008 , we entered into a second amendment to the credit agreement dated february 26 , 2008 , which extended the maturity date of the facility by one year to february 16 , 2013 .the facility would terminate at this date if no additional extensions have been requested and granted .all other terms and conditions remain the same .the facility contains a financial covenant requiring us not to exceed a certain maximum leverage ratio .at our option , borrowings under the facility accrue interest based on either the london interbank offered rate ( 201clibor 201d ) for one , two , three or six months , or longer periods with bank consent , plus a margin according to a pricing grid tied to this financial covenant , or a base rate .the margin is set at rates between 0.20% ( 0.20 % ) and 0.475% ( 0.475 % ) .commitment fees are payable on the facility at rates between 0.05% ( 0.05 % ) and 0.15% ( 0.15 % ) per year based on the same pricing grid .the facility is available to provide loans to us and certain of our subsidiaries for general corporate purposes .on february 1 , 2010 , we paid the outstanding balance on our credit facility and the entire $ 1.0 billion credit line under this facility remains available for borrowing .capital lease obligation in june 2010 , we entered into a sale-leaseback agreement to sell equipment totaling $ 32.2 million and leaseback the same equipment over a period of 43 months .this transaction was classified as a capital lease obligation and recorded at fair value .as of december 2 , 2011 , our capital lease obligations of $ 19.7 million includes $ 9.2 million of current debt .table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .
[['', '2011', '2010'], ['notes', '$ 1494627', '$ 1493969'], ['capital lease obligations', '19681', '28492'], ['total debt and capital lease obligations', '1514308', '1522461'], ['less : current portion', '9212', '8799'], ['debt and capital lease obligations', '$ 1505096', '$ 1513662']]
note 17 .debt our debt as of december 2 , 2011 and december 3 , 2010 consisted of the following ( in thousands ) : capital lease obligations total debt and capital lease obligations less : current portion debt and capital lease obligations $ 1494627 19681 1514308 $ 1505096 $ 1493969 28492 1522461 $ 1513662 in february 2010 , we issued $ 600.0 million of 3.25% ( 3.25 % ) senior notes due february 1 , 2015 ( the 201c2015 notes 201d ) and $ 900.0 million of 4.75% ( 4.75 % ) senior notes due february 1 , 2020 ( the 201c2020 notes 201d and , together with the 2015 notes , the 201cnotes 201d ) .our proceeds were approximately $ 1.5 billion and were net of an issuance discount of $ 6.6 million .the notes rank equally with our other unsecured and unsubordinated indebtedness .in addition , we incurred issuance costs of approximately $ 10.7 million .both the discount and issuance costs are being amortized to interest expense over the respective terms of the notes using the effective interest method .the effective interest rate including the discount and issuance costs is 3.45% ( 3.45 % ) for the 2015 notes and 4.92% ( 4.92 % ) for the 2020 notes .interest is payable semi-annually , in arrears , on february 1 and august 1 , commencing on august 1 , 2010 .during fiscal 2011 interest payments totaled $ 62.3 million .the proceeds from the notes are available for general corporate purposes , including repayment of any balance outstanding on our credit facility .based on quoted market prices , the fair value of the notes was approximately $ 1.6 billion as of december 2 , 2011 .we may redeem the notes at any time , subject to a make whole premium .in addition , upon the occurrence of certain change of control triggering events , we may be required to repurchase the notes , at a price equal to 101% ( 101 % ) of their principal amount , plus accrued and unpaid interest to the date of repurchase .the notes also include covenants that limit our ability to grant liens on assets and to enter into sale and leaseback transactions , subject to significant allowances .as of december 2 , 2011 , we were in compliance with all of the covenants .credit agreement in august 2007 , we entered into an amendment to our credit agreement dated february 2007 ( the 201camendment 201d ) , which increased the total senior unsecured revolving facility from $ 500.0 million to $ 1.0 billion .the amendment also permits us to request one-year extensions effective on each anniversary of the closing date of the original agreement , subject to the majority consent of the lenders .we also retain an option to request an additional $ 500.0 million in commitments , for a maximum aggregate facility of $ 1.5 billion .in february 2008 , we entered into a second amendment to the credit agreement dated february 26 , 2008 , which extended the maturity date of the facility by one year to february 16 , 2013 .the facility would terminate at this date if no additional extensions have been requested and granted .all other terms and conditions remain the same .the facility contains a financial covenant requiring us not to exceed a certain maximum leverage ratio .at our option , borrowings under the facility accrue interest based on either the london interbank offered rate ( 201clibor 201d ) for one , two , three or six months , or longer periods with bank consent , plus a margin according to a pricing grid tied to this financial covenant , or a base rate .the margin is set at rates between 0.20% ( 0.20 % ) and 0.475% ( 0.475 % ) .commitment fees are payable on the facility at rates between 0.05% ( 0.05 % ) and 0.15% ( 0.15 % ) per year based on the same pricing grid .the facility is available to provide loans to us and certain of our subsidiaries for general corporate purposes .on february 1 , 2010 , we paid the outstanding balance on our credit facility and the entire $ 1.0 billion credit line under this facility remains available for borrowing .capital lease obligation in june 2010 , we entered into a sale-leaseback agreement to sell equipment totaling $ 32.2 million and leaseback the same equipment over a period of 43 months .this transaction was classified as a capital lease obligation and recorded at fair value .as of december 2 , 2011 , our capital lease obligations of $ 19.7 million includes $ 9.2 million of current debt .table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .
|
what portion of the total debt and capital lease obligations is included in the section of current liabilities in 2011?
|
0.6%
|
{
"answer": "0.6%",
"decimal": 0.006,
"type": "percentage"
}
| |
152 the pnc financial services group , inc .2013 form 10-k in addition to the proceedings or other matters described above , pnc and persons to whom we may have indemnification obligations , in the normal course of business , are subject to various other pending and threatened legal proceedings in which claims for monetary damages and other relief are asserted .we do not anticipate , at the present time , that the ultimate aggregate liability , if any , arising out of such other legal proceedings will have a material adverse effect on our financial position .however , we cannot now determine whether or not any claims asserted against us or others to whom we may have indemnification obligations , whether in the proceedings or other matters described above or otherwise , will have a material adverse effect on our results of operations in any future reporting period , which will depend on , among other things , the amount of the loss resulting from the claim and the amount of income otherwise reported for the reporting period .note 20 commitments in the normal course of business , we have various commitments outstanding , certain of which are not included on our consolidated balance sheet .the following table presents our outstanding commitments to extend credit along with significant other commitments as of december 31 , 2017 and december 31 , 2016 , respectively .table 98 : commitments to extend credit and other commitments in millions december 31 december 31 .
[['in millions', 'december 31 2017', 'december 31 2016'], ['commitments to extend credit', '', ''], ['total commercial lending', '$ 112125', '$ 108256'], ['home equity lines of credit', '17852', '17438'], ['credit card', '24911', '22095'], ['other', '4753', '4192'], ['total commitments to extend credit', '159641', '151981'], ['net outstanding standby letters ofcredit ( a )', '8651', '8324'], ['reinsurance agreements ( b )', '1654', '1835'], ['standby bond purchase agreements ( c )', '843', '790'], ['other commitments ( d )', '1732', '967'], ['total commitments to extendcredit and other commitments', '$ 172521', '$ 163897']]
commitments to extend credit , or net unfunded loan commitments , represent arrangements to lend funds or provide liquidity subject to specified contractual conditions .these commitments generally have fixed expiration dates , may require payment of a fee , and contain termination clauses in the event the customer 2019s credit quality deteriorates .net outstanding standby letters of credit we issue standby letters of credit and share in the risk of standby letters of credit issued by other financial institutions , in each case to support obligations of our customers to third parties , such as insurance requirements and the facilitation of transactions involving capital markets product execution .approximately 91% ( 91 % ) and 94% ( 94 % ) of our net outstanding standby letters of credit were rated as pass as of december 31 , 2017 and december 31 , 2016 , respectively , with the remainder rated as below pass .an internal credit rating of pass indicates the expected risk of loss is currently low , while a rating of below pass indicates a higher degree of risk .if the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program , then upon a draw by a beneficiary , subject to the terms of the letter of credit , we would be obligated to make payment to them .the standby letters of credit outstanding on december 31 , 2017 had terms ranging from less than one year to seven years .as of december 31 , 2017 , assets of $ 1.3 billion secured certain specifically identified standby letters of credit .in addition , a portion of the remaining standby letters of credit issued on behalf of specific customers is also secured by collateral or guarantees that secure the customers 2019 other obligations to us .the carrying amount of the liability for our obligations related to standby letters of credit and participations in standby letters of credit was $ .2 billion at december 31 , 2017 and is included in other liabilities on our consolidated balance sheet. .
|
what was the change in the total commitments to extend credit from 2016 top 2017
|
5%
|
{
"answer": "5%",
"decimal": 0.05,
"type": "percentage"
}
| |
operating expenses millions 2013 2012 2011 % ( % ) change 2013 v 2012 % ( % ) change 2012 v 2011 .
[['millions', '2013', '2012', '2011', '% ( % ) change 2013 v 2012', '% ( % ) change 2012 v 2011'], ['compensation and benefits', '$ 4807', '$ 4685', '$ 4681', '3 % ( % )', '-% ( - % )'], ['fuel', '3534', '3608', '3581', '-2 ( 2 )', '1'], ['purchased services and materials', '2315', '2143', '2005', '8', '7'], ['depreciation', '1777', '1760', '1617', '1', '9'], ['equipment and other rents', '1235', '1197', '1167', '3', '3'], ['other', '849', '788', '782', '8', '1'], ['total', '$ 14517', '$ 14181', '$ 13833', '2 % ( % )', '3% ( 3 % )']]
operating expenses increased $ 336 million in 2013 versus 2012 .wage and benefit inflation , new logistics management fees and container costs for our automotive business , locomotive overhauls , property taxes and repairs on jointly owned property contributed to higher expenses during the year .lower fuel prices partially offset the cost increases .operating expenses increased $ 348 million in 2012 versus 2011 .depreciation , wage and benefit inflation , higher fuel prices and volume- related trucking services purchased by our logistics subsidiaries , contributed to higher expenses during the year .efficiency gains , volume related fuel savings ( 2% ( 2 % ) fewer gallons of fuel consumed ) and $ 38 million of weather related expenses in 2011 , which favorably affects the comparison , partially offset the cost increase .compensation and benefits 2013 compensation and benefits include wages , payroll taxes , health and welfare costs , pension costs , other postretirement benefits , and incentive costs .general wages and benefits inflation , higher work force levels and increased pension and other postretirement benefits drove the increases in 2013 versus 2012 .the impact of ongoing productivity initiatives partially offset these increases .expenses in 2012 were essentially flat versus 2011 as operational improvements and cost reductions offset general wage and benefit inflation and higher pension and other postretirement benefits .in addition , weather related costs increased these expenses in 2011 .fuel 2013 fuel includes locomotive fuel and gasoline for highway and non-highway vehicles and heavy equipment .lower locomotive diesel fuel prices , which averaged $ 3.15 per gallon ( including taxes and transportation costs ) in 2013 , compared to $ 3.22 in 2012 , decreased expenses by $ 75 million .volume , as measured by gross ton-miles , decreased 1% ( 1 % ) while the fuel consumption rate , computed as gallons of fuel consumed divided by gross ton-miles , increased 2% ( 2 % ) compared to 2012 .declines in heavier , more fuel-efficient coal shipments drove the variances in gross-ton-miles and the fuel consumption rate .higher locomotive diesel fuel prices , which averaged $ 3.22 per gallon ( including taxes and transportation costs ) in 2012 , compared to $ 3.12 in 2011 , increased expenses by $ 105 million .volume , as measured by gross ton-miles , decreased 2% ( 2 % ) in 2012 versus 2011 , driving expense down .the fuel consumption rate was flat year-over-year .purchased services and materials 2013 expense for purchased services and materials includes the costs of services purchased from outside contractors and other service providers ( including equipment maintenance and contract expenses incurred by our subsidiaries for external transportation services ) ; materials used to maintain the railroad 2019s lines , structures , and equipment ; costs of operating facilities jointly used by uprr and other railroads ; transportation and lodging for train crew employees ; trucking and contracting costs for intermodal containers ; leased automobile maintenance expenses ; and tools and 2013 operating expenses .
|
in 2012 what was the percent of the total operating expenses for the compensation and benefits
|
33%
|
{
"answer": "33%",
"decimal": 0.33,
"type": "percentage"
}
| |
marathon oil corporation notes to consolidated financial statements been reported as discontinued operations in the consolidated statements of income and the consolidated statements of cash flows for all periods presented .discontinued operations 2014revenues and pretax income associated with our discontinued irish and gabonese operations are shown in the following table : ( in millions ) 2009 2008 2007 .
[['( in millions )', '2009', '2008', '2007'], ['revenues applicable to discontinued operations', '$ 188', '$ 439', '$ 456'], ['pretax income from discontinued operations', '$ 80', '$ 221', '$ 281']]
angola disposition 2013 in july 2009 , we entered into an agreement to sell an undivided 20 percent outside- operated interest in the production sharing contract and joint operating agreement in block 32 offshore angola for $ 1.3 billion , excluding any purchase price adjustments at closing , with an effective date of january 1 , 2009 .the sale closed and we received net proceeds of $ 1.3 billion in february 2010 .the pretax gain on the sale will be approximately $ 800 million .we retained a 10 percent outside-operated interest in block 32 .gabon disposition 2013 in december 2009 , we closed the sale of our operated fields offshore gabon , receiving net proceeds of $ 269 million , after closing adjustments .a $ 232 million pretax gain on this disposition was reported in discontinued operations for 2009 .permian basin disposition 2013 in june 2009 , we closed the sale of our operated and a portion of our outside- operated permian basin producing assets in new mexico and west texas for net proceeds after closing adjustments of $ 293 million .a $ 196 million pretax gain on the sale was recorded .ireland dispositions 2013 in april 2009 , we closed the sale of our operated properties in ireland for net proceeds of $ 84 million , after adjusting for cash held by the sold subsidiary .a $ 158 million pretax gain on the sale was recorded .as a result of this sale , we terminated our pension plan in ireland , incurring a charge of $ 18 million .in june 2009 , we entered into an agreement to sell the subsidiary holding our 19 percent outside-operated interest in the corrib natural gas development offshore ireland .total proceeds were estimated to range between $ 235 million and $ 400 million , subject to the timing of first commercial gas at corrib and closing adjustments .at closing on july 30 , 2009 , the initial $ 100 million payment plus closing adjustments was received .the fair value of the proceeds was estimated to be $ 311 million .fair value of anticipated sale proceeds includes ( i ) $ 100 million received at closing , ( ii ) $ 135 million minimum amount due at the earlier of first gas or december 31 , 2012 , and ( iii ) a range of zero to $ 165 million of contingent proceeds subject to the timing of first commercial gas .a $ 154 million impairment of the held for sale asset was recognized in discontinued operations in the second quarter of 2009 ( see note 16 ) since the fair value of the disposal group was less than the net book value .final proceeds will range between $ 135 million ( minimum amount ) to $ 300 million and are due on the earlier of first commercial gas or december 31 , 2012 .the fair value of the expected final proceeds was recorded as an asset at closing .as a result of new public information in the fourth quarter of 2009 , a writeoff was recorded on the contingent portion of the proceeds ( see note 10 ) .existing guarantees of our subsidiaries 2019 performance issued to irish government entities will remain in place after the sales until the purchasers issue similar guarantees to replace them .the guarantees , related to asset retirement obligations and natural gas production levels , have been indemnified by the purchasers .the fair value of these guarantees is not significant .norwegian disposition 2013 on october 31 , 2008 , we closed the sale of our norwegian outside-operated e&p properties and undeveloped offshore acreage in the heimdal area of the norwegian north sea for net proceeds of $ 301 million , with a pretax gain of $ 254 million as of december 31 , 2008 .pilot travel centers disposition 2013 on october 8 , 2008 , we completed the sale of our 50 percent ownership interest in ptc .sale proceeds were $ 625 million , with a pretax gain on the sale of $ 126 million .immediately preceding the sale , we received a $ 75 million partial redemption of our ownership interest from ptc that was accounted for as a return of investment .this was an investment of our rm&t segment. .
|
by how much did pretax income from discontinued operations decrease from 2007 to 2009?
|
-71.5%
|
{
"answer": "-71.5%",
"decimal": -0.715,
"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 was the change in the stock compensation plans total stock-based compensation expense in millions from 2007 to 2008
|
38
|
{
"answer": "38",
"decimal": 38,
"type": "float"
}
| |
note 4 : property , plant and equipment the following table summarizes the major classes of property , plant and equipment by category as of december 31 : 2015 2014 range of remaining useful weighted average useful life utility plant : land and other non-depreciable assets ..........$ 141 $ 137 sources of supply ..........................705 681 12 to 127 years 51 years treatment and pumping facilities ..............3070 2969 3 to 101 years 39 years transmission and distribution facilities .........8516 7963 9 to 156 years 83 years services , meters and fire hydrants .............3250 3062 8 to 93 years 35 years general structures and equipment .............1227 1096 1 to 154 years 39 years waste treatment , pumping and disposal .........313 281 2 to 115 years 46 years waste collection ...........................473 399 5 to 109 years 56 years construction work in progress ................404 303 total utility plant ..............................18099 16891 nonutility property .............................405 378 3 to 50 years 6 years total property , plant and equipment ...............$ 18504 $ 17269 property , plant and equipment depreciation expense amounted to $ 405 , $ 392 , and $ 374 for the years ended december 31 , 2015 , 2014 and 2013 , respectively and was included in depreciation and amortization expense in the accompanying consolidated statements of operations .the provision for depreciation expressed as a percentage of the aggregate average depreciable asset balances was 3.13% ( 3.13 % ) for the year ended december 31 , 2015 and 3.20% ( 3.20 % ) for years december 31 , 2014 and 2013 .note 5 : allowance for uncollectible accounts the following table summarizes the changes in the company 2019s allowances for uncollectible accounts for the years ended december 31: .
[['', '2015', '2014', '2013'], ['balance as of january 1', '$ -35 ( 35 )', '$ -34 ( 34 )', '$ -27 ( 27 )'], ['amounts charged to expense', '-32 ( 32 )', '-37 ( 37 )', '-27 ( 27 )'], ['amounts written off', '38', '43', '24'], ['recoveries of amounts written off', '-10 ( 10 )', '-7 ( 7 )', '-4 ( 4 )'], ['balance as of december 31', '$ -39 ( 39 )', '$ -35 ( 35 )', '$ -34 ( 34 )']]
.
|
by how much did property , plant and equipment depreciation expense increase from 2013 to 2015?
|
8.3%
|
{
"answer": "8.3%",
"decimal": 0.083,
"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 , did retail financial services have a greater roe than card services?
|
yes
|
{
"answer": "yes",
"decimal": 1,
"type": "bool"
}
| |
part iii item 10 .directors , and executive officers and corporate governance .pursuant to section 406 of the sarbanes-oxley act of 2002 , we have adopted a code of ethics for senior financial officers that applies to our principal executive officer and principal financial officer , principal accounting officer and controller , and other persons performing similar functions .our code of ethics for senior financial officers is publicly available on our website at www.hologic.com .we intend to satisfy the disclosure requirement under item 5.05 of current report on form 8-k regarding an amendment to , or waiver from , a provision of this code by posting such information on our website , at the address specified above .the additional information required by this item is incorporated by reference to our definitive proxy statement for our annual meeting of stockholders to be filed with the securities and exchange commission within 120 days after the close of our fiscal year .item 11 .executive compensation .the information required by this item is incorporated by reference to our definitive proxy statement for our annual meeting of stockholders to be filed with the securities and exchange commission within 120 days after the close of our fiscal year .item 12 .security ownership of certain beneficial owners and management and related stockholder matters .we maintain a number of equity compensation plans for employees , officers , directors and others whose efforts contribute to our success .the table below sets forth certain information as of the end of our fiscal year ended september 27 , 2008 regarding the shares of our common stock available for grant or granted under stock option plans and equity incentives that ( i ) were approved by our stockholders , and ( ii ) were not approved by our stockholders .the number of securities and the exercise price of the outstanding securities have been adjusted to reflect our two-for-one stock splits effected on november 30 , 2005 and april 2 , 2008 .equity compensation plan information plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ...................................15370814 $ 16.10 19977099 equity compensation plans not approved by security holders ( 1 ) ................................582881 $ 3.79 2014 .
[['plan category', 'number of securities to be issued upon exercise of outstanding options warrants and rights ( a )', 'weighted-average exercise price of outstanding options warrants and rights ( b )', 'number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )'], ['equity compensation plans approved by security holders', '15370814', '$ 16.10', '19977099'], ['equity compensation plans not approved by security holders ( 1 )', '582881', '$ 3.79', '2014'], ['total', '15953695', '$ 15.65', '19977099']]
( 1 ) includes the following plans : 1997 employee equity incentive plan and 2000 acquisition equity incentive plan .a description of each of these plans is as follows : 1997 employee equity incentive plan .the purposes of the 1997 employee equity incentive plan ( the 201c1997 plan 201d ) , adopted by the board of directors in may 1997 , are to attract and retain key employees , consultants and advisors , to provide an incentive for them to assist us in achieving long-range performance goals , and to enable such person to participate in our long-term growth .in general , under the 1997 plan , all employees .
|
what portion of the total number of issued securities is approved by security holders?
|
96.3%
|
{
"answer": "96.3%",
"decimal": 0.963,
"type": "percentage"
}
| |
portion of their plan account invested in shares of pnc common stock into other investments available within the plan .prior to this amendment , only participants age 50 or older were permitted to exercise this diversification option .employee benefits expense related to this plan was $ 52 million in 2007 , $ 52 million in 2006 and $ 47 million in 2005 .we measured employee benefits expense as the fair value of the shares and cash contributed to the plan by pnc .hilliard lyons sponsors a contributory , qualified defined contribution plan that covers substantially all of its employees who are not covered by the plan described above .contributions to this plan are made in cash and include a base contribution for those participants employed at december 31 , a matching of employee contributions , and a discretionary profit sharing contribution as determined by hilliard lyons 2019 executive compensation committee .employee benefits expense for this plan was $ 6 million in 2007 , $ 5 million in 2006 and $ 6 million in 2005 .see note 2 acquisitions and divestitures regarding our pending sale of hilliard lyons .we have a separate qualified defined contribution plan that covers substantially all us-based pfpc employees not covered by our plan .the plan is a 401 ( k ) plan and includes an esop feature .under this plan , employee contributions of up to 6% ( 6 % ) of eligible compensation as defined by the plan may be matched annually based on pfpc performance levels .participants must be employed as of december 31 of each year to receive this annual contribution .the performance- based employer matching contribution will be made primarily in shares of pnc common stock held in treasury , except in the case of those participants who have exercised their diversification election rights to have their matching portion in other investments available within the plan .mandatory employer contributions to this plan are made in cash and include employer basic and transitional contributions .employee-directed contributions are invested in a number of investment options available under the plan , including a pnc common stock fund and several blackrock mutual funds , at the direction of the employee .effective november 22 , 2005 , we amended the plan to provide all participants the ability to diversify the matching portion of their plan account invested in shares of pnc common stock into other investments available within the plan .prior to this amendment , only participants age 50 or older were permitted to exercise this diversification option .employee benefits expense for this plan was $ 10 million in 2007 , $ 9 million in 2006 and $ 12 million in 2005 .we measured employee benefits expense as the fair value of the shares and cash contributed to the plan .we also maintain a nonqualified supplemental savings plan for certain employees .note 18 stock-based compensation we have long-term incentive award plans ( 201cincentive plans 201d ) that provide for the granting of incentive stock options , nonqualified stock options , stock appreciation rights , incentive shares/performance units , restricted stock , restricted share units , other share-based awards and dollar-denominated awards to executives and , other than incentive stock options , to non-employee directors .certain incentive plan awards may be paid in stock , cash or a combination of stock and cash .we grant a substantial portion of our stock-based compensation awards during the first quarter of the year .as of december 31 , 2007 , no incentive stock options or stock appreciation rights were outstanding .nonqualified stock options options are granted at exercise prices not less than the market value of common stock on the grant date .generally , options granted since 1999 become exercisable in installments after the grant date .options granted prior to 1999 are mainly exercisable 12 months after the grant date .no option may be exercisable after 10 years from its grant date .payment of the option exercise price may be in cash or shares of common stock at market value on the exercise date .the exercise price may be paid in previously owned shares .generally , options granted under the incentive plans vest ratably over a three-year period as long as the grantee remains an employee or , in certain cases , retires from pnc .for all options granted prior to the adoption of sfas 123r , we recognized compensation expense over the three-year vesting period .if an employee retired prior to the end of the three- year vesting period , we accelerated the expensing of all unrecognized compensation costs at the retirement date .as required under sfas 123r , we recognize compensation expense for options granted to retirement-eligible employees after january 1 , 2006 in the period granted , in accordance with the service period provisions of the options .a summary of stock option activity follows: .
[['options outstanding atdecember 31shares in thousands', 'per option exercise price', 'per option weighted- average exercise price', 'shares'], ['december 31 2006', '$ 37.43 2013 $ 76.00', '$ 59.29', '14950'], ['granted', '68.06 2013 76.23', '72.95', '2170'], ['exercised', '37.43 2013 74.59', '54.34', '-2625 ( 2625 )'], ['cancelled', '38.17 2013 75.85', '69.15', '-169 ( 169 )'], ['december 31 2007', '$ 37.43 2013 $ 76.23', '$ 62.15', '14326']]
.
|
what was the net change in stock options outstanding for 2007?
|
624
|
{
"answer": "624",
"decimal": 624,
"type": "float"
}
| |
edwards lifesciences corporation notes to consolidated financial statements ( continued ) 7 .acquisitions ( continued ) transaction closed on january 23 , 2017 , and the consideration paid included the issuance of approximately 2.8 million shares of the company 2019s common stock ( fair value of $ 266.5 million ) and cash of $ 86.2 million .the company recognized in 201ccontingent consideration liabilities 201d a $ 162.9 million liability for the estimated fair value of the contingent milestone payments .the fair value of the contingent milestone payments will be remeasured each quarter , with changes in the fair value recognized within operating expenses on the consolidated statements of operations .for further information on the fair value of the contingent milestone payments , see note 10 .in connection with the acquisition , the company placed $ 27.6 million of the purchase price into escrow to satisfy any claims for indemnification made in accordance with the merger agreement .any funds remaining 15 months after the acquisition date will be disbursed to valtech 2019s former shareholders .acquisition-related costs of $ 0.6 million and $ 4.1 million were recorded in 201cselling , general , and administrative expenses 201d during the years ended december 31 , 2017 and 2016 , respectively .prior to the close of the transaction , valtech spun off its early- stage transseptal mitral valve replacement technology program .concurrent with the closing , the company entered into an agreement for an exclusive option to acquire that program and its associated intellectual property for approximately $ 200.0 million , subject to certain adjustments , plus an additional $ 50.0 million if a certain european regulatory approval is obtained within 10 years of the acquisition closing date .the option expires two years after the closing date of the transaction , but can be extended by up to one year depending on the results of certain clinical trials .valtech is a developer of a transcatheter mitral and tricuspid valve repair system .the company plans to add this technology to its portfolio of mitral and tricuspid repair products .the acquisition was accounted for as a business combination .tangible and intangible assets acquired were recorded based on their estimated fair values at the acquisition date .the excess of the purchase price over the fair value of net assets acquired was recorded to goodwill .the following table summarizes the fair values of the assets acquired and liabilities assumed ( in millions ) : .
[['current assets', '$ 22.7'], ['property and equipment net', '1.2'], ['goodwill', '316.5'], ['developed technology', '109.2'], ['ipr&d', '87.9'], ['other assets', '0.8'], ['current liabilities assumed', '-5.1 ( 5.1 )'], ['deferred income taxes', '-17.6 ( 17.6 )'], ['total purchase price', '515.6'], ['less : cash acquired', '-4.3 ( 4.3 )'], ['total purchase price net of cash acquired', '$ 511.3']]
goodwill includes expected synergies and other benefits the company believes will result from the acquisition .goodwill was assigned to the company 2019s rest of world segment and is not deductible for tax purposes .ipr&d has been capitalized at fair value as an intangible asset with an indefinite life and will be assessed for impairment in subsequent periods .the fair value of the ipr&d was determined using the income approach .this approach determines fair value based on cash flow projections which are discounted to present value using a risk-adjusted rate of return .the discount rates used to determine the fair value of the ipr&d ranged from 18.0% ( 18.0 % ) to 20.0% ( 20.0 % ) .completion of successful design developments , bench testing , pre-clinical studies .
|
what are the acquisition-related costs recorded in 201cselling , general , and administrative expenses 201d as a percentage of current assets?
|
20.7%
|
{
"answer": "20.7%",
"decimal": 0.207,
"type": "percentage"
}
| |
future minimum operating lease payments for leases with remaining terms greater than one year for each of the years in the five years ending december 31 , 2015 , and thereafter in the aggregate , are as follows ( in millions ) : .
[['2011', '$ 65.1'], ['2012', '47.6'], ['2013', '35.7'], ['2014', '27.8'], ['2015', '24.3'], ['thereafter', '78.1'], ['total', '$ 278.6']]
in addition , the company has operating lease commitments relating to office equipment and computer hardware with annual lease payments of approximately $ 16.3 million per year which renew on a short-term basis .rent expense incurred under all operating leases during the years ended december 31 , 2010 , 2009 and 2008 was $ 116.1 million , $ 100.2 million and $ 117.0 million , respectively .included in discontinued operations in the consolidated statements of earnings was rent expense of $ 2.0 million , $ 1.8 million and $ 17.0 million for the years ended december 31 , 2010 , 2009 and 2008 , respectively .data processing and maintenance services agreements .the company has agreements with various vendors , which expire between 2011 and 2017 , for portions of its computer data processing operations and related functions .the company 2019s estimated aggregate contractual obligation remaining under these agreements was approximately $ 554.3 million as of december 31 , 2010 .however , this amount could be more or less depending on various factors such as the inflation rate , foreign exchange rates , the introduction of significant new technologies , or changes in the company 2019s data processing needs .( 16 ) employee benefit plans stock purchase plan fis employees participate in an employee stock purchase plan ( espp ) .eligible employees may voluntarily purchase , at current market prices , shares of fis 2019 common stock through payroll deductions .pursuant to the espp , employees may contribute an amount between 3% ( 3 % ) and 15% ( 15 % ) of their base salary and certain commissions .shares purchased are allocated to employees based upon their contributions .the company contributes varying matching amounts as specified in the espp .the company recorded an expense of $ 14.3 million , $ 12.4 million and $ 14.3 million , respectively , for the years ended december 31 , 2010 , 2009 and 2008 , relating to the participation of fis employees in the espp .included in discontinued operations in the consolidated statements of earnings was expense of $ 0.1 million and $ 3.0 million for the years ended december 31 , 2009 and 2008 , respectively .401 ( k ) profit sharing plan the company 2019s employees are covered by a qualified 401 ( k ) plan .eligible employees may contribute up to 40% ( 40 % ) of their pretax annual compensation , up to the amount allowed pursuant to the internal revenue code .the company generally matches 50% ( 50 % ) of each dollar of employee contribution up to 6% ( 6 % ) of the employee 2019s total eligible compensation .the company recorded expense of $ 23.1 million , $ 16.6 million and $ 18.5 million , respectively , for the years ended december 31 , 2010 , 2009 and 2008 , relating to the participation of fis employees in the 401 ( k ) plan .included in discontinued operations in the consolidated statements of earnings was expense of $ 0.1 million and $ 3.9 million for the years ended december 31 , 2009 and 2008 , respectively .fidelity national information services , inc .and subsidiaries notes to consolidated financial statements 2014 ( continued ) %%transmsg*** transmitting job : g26369 pcn : 083000000 ***%%pcmsg|83 |00006|yes|no|03/28/2011 17:32|0|0|page is valid , no graphics -- color : n| .
|
what is the increase in rent expense from 2009 to 2010?
|
15.9%
|
{
"answer": "15.9%",
"decimal": 0.159,
"type": "percentage"
}
| |
in a new business model such as the retail segment is inherently risky , particularly in light of the significant investment involved , the current economic climate , and the fixed nature of a substantial portion of the retail segment's operating expenses .results for this segment are dependent upon a number of risks and uncertainties , some of which are discussed below under the heading "factors that may affect future results and financial condition." backlog in the company's experience , the actual amount of product backlog at any particular time is not a meaningful indication of its future business prospects .in particular , backlog often increases in anticipation of or immediately following new product introductions because of over- ordering by dealers anticipating shortages .backlog often is reduced once dealers and customers believe they can obtain sufficient supply .because of the foregoing , backlog cannot be considered a reliable indicator of the company's ability to achieve any particular level of revenue or financial performance .further information regarding the company's backlog may be found below under the heading "factors that may affect future results and financial condition." gross margin gross margin for the three fiscal years ended september 28 , 2002 are as follows ( in millions , except gross margin percentages ) : gross margin increased to 28% ( 28 % ) of net sales in 2002 from 23% ( 23 % ) in 2001 .as discussed below , gross margin in 2001 was unusually low resulting from negative gross margin of 2% ( 2 % ) experienced in the first quarter of 2001 .as a percentage of net sales , the company's quarterly gross margins declined during fiscal 2002 from 31% ( 31 % ) in the first quarter down to 26% ( 26 % ) in the fourth quarter .this decline resulted from several factors including a rise in component costs as the year progressed and aggressive pricing by the company across its products lines instituted as a result of continued pricing pressures in the personal computer industry .the company anticipates that its gross margin and the gross margin of the overall personal computer industry will remain under pressure throughout fiscal 2003 in light of weak economic conditions , flat demand for personal computers in general , and the resulting pressure on prices .the foregoing statements regarding anticipated gross margin in 2003 and the general demand for personal computers during 2003 are forward- looking .gross margin could differ from anticipated levels because of several factors , including certain of those set forth below in the subsection entitled "factors that may affect future results and financial condition." there can be no assurance that current gross margins will be maintained , targeted gross margin levels will be achieved , or current margins on existing individual products will be maintained .in general , gross margins and margins on individual products will remain under significant downward pressure due to a variety of factors , including continued industry wide global pricing pressures , increased competition , compressed product life cycles , potential increases in the cost and availability of raw material and outside manufacturing services , and potential changes to the company's product mix , including higher unit sales of consumer products with lower average selling prices and lower gross margins .in response to these downward pressures , the company expects it will continue to take pricing actions with respect to its products .gross margins could also be affected by the company's ability to effectively manage quality problems and warranty costs and to stimulate demand for certain of its products .the company's operating strategy and pricing take into account anticipated changes in foreign currency exchange rates over time ; however , the company's results of operations can be significantly affected in the short-term by fluctuations in exchange rates .the company orders components for its products and builds inventory in advance of product shipments .because the company's markets are volatile and subject to rapid technology and price changes , there is a risk the company will forecast incorrectly and produce or order from third parties excess or insufficient inventories of particular products or components .the company's operating results and financial condition have been in the past and may in the future be materially adversely affected by the company's ability to manage its inventory levels and outstanding purchase commitments and to respond to short-term shifts in customer demand patterns .gross margin declined to 23% ( 23 % ) of net sales in 2001 from 27% ( 27 % ) in 2000 .this decline resulted primarily from gross margin of negative 2% ( 2 % ) experienced during the first quarter of 2001 compared to 26% ( 26 % ) gross margin for the same quarter in 2000 .in addition to lower than normal net .
[['', '2002', '2001', '2000'], ['net sales', '$ 5742', '$ 5363', '$ 7983'], ['cost of sales', '4139', '4128', '5817'], ['gross margin', '$ 1603', '$ 1235', '$ 2166'], ['gross margin percentage', '28% ( 28 % )', '23% ( 23 % )', '27% ( 27 % )']]
.
|
what was the percentage change in net sales from 2000 to 2001?
|
-32%
|
{
"answer": "-32%",
"decimal": -0.32,
"type": "percentage"
}
| |
mission systems and training our mst business segment provides ship and submarine mission and combat systems ; mission systems and sensors for rotary and fixed-wing aircraft ; sea and land-based missile defense systems ; radar systems ; littoral combat ships ; simulation and training services ; and unmanned systems and technologies .mst 2019s major programs include aegis combat system ( aegis ) , littoral combat ship ( lcs ) , mh-60 , tpq-53 radar system and mk-41 vertical launching system .mst 2019s operating results included the following ( in millions ) : .
[['', '2014', '2013', '2012'], ['net sales', '$ 7147', '$ 7153', '$ 7579'], ['operating profit', '843', '905', '737'], ['operating margins', '11.8% ( 11.8 % )', '12.7% ( 12.7 % )', '9.7% ( 9.7 % )'], ['backlog at year-end', '$ 11700', '$ 10800', '$ 10700']]
2014 compared to 2013 mst 2019s net sales for 2014 were comparable to 2013 .net sales decreased by approximately $ 85 million for undersea systems programs due to decreased volume and deliveries ; and about $ 55 million related to the settlements of contract cost matters on certain programs ( including a portion of the terminated presidential helicopter program ) in 2013 that were not repeated in 2014 .the decreases were offset by higher net sales of approximately $ 80 million for integrated warfare systems and sensors programs due to increased volume ( primarily space fence ) ; and approximately $ 40 million for training and logistics solutions programs due to increased deliveries ( primarily close combat tactical trainer ) .mst 2019s operating profit for 2014 decreased $ 62 million , or 7% ( 7 % ) , compared to 2013 .the decrease was primarily attributable to lower operating profit of approximately $ 120 million related to the settlements of contract cost matters on certain programs ( including a portion of the terminated presidential helicopter program ) in 2013 that were not repeated in 2014 ; and approximately $ 45 million due to higher reserves recorded on certain training and logistics solutions programs .the decreases were partially offset by higher operating profit of approximately $ 45 million for performance matters and reserves recorded in 2013 that were not repeated in 2014 ; and about $ 60 million for various programs due to increased risk retirements ( including mh-60 and radar surveillance programs ) .adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 50 million lower for 2014 compared to 2013 .2013 compared to 2012 mst 2019s net sales for 2013 decreased $ 426 million , or 6% ( 6 % ) , compared to 2012 .the decrease was primarily attributable to lower net sales of approximately $ 275 million for various ship and aviation systems programs due to lower volume ( primarily ptds as final surveillance system deliveries occurred during the second quarter of 2012 ) ; about $ 195 million for various integrated warfare systems and sensors programs ( primarily naval systems ) due to lower volume ; approximately $ 65 million for various training and logistics programs due to lower volume ; and about $ 55 million for the aegis program due to lower volume .the decreases were partially offset by higher net sales of about $ 155 million for the lcs program due to increased volume .mst 2019s operating profit for 2013 increased $ 168 million , or 23% ( 23 % ) , compared to 2012 .the increase was primarily attributable to higher operating profit of approximately $ 120 million related to the settlement of contract cost matters on certain programs ( including a portion of the terminated presidential helicopter program ) ; about $ 55 million for integrated warfare systems and sensors programs ( primarily radar and halifax class modernization programs ) due to increased risk retirements ; and approximately $ 30 million for undersea systems programs due to increased risk retirements .the increases were partially offset by lower operating profit of about $ 55 million for training and logistics programs , primarily due to the recording of approximately $ 30 million of charges mostly related to lower-of-cost-or-market considerations ; and about $ 25 million for ship and aviation systems programs ( primarily ptds ) due to lower risk retirements and volume .operating profit related to the lcs program was comparable .adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 170 million higher for 2013 compared to 2012 .backlog backlog increased in 2014 compared to 2013 primarily due to higher orders on new program starts ( such as space fence ) .backlog increased slightly in 2013 compared to 2012 mainly due to higher orders and lower sales on integrated warfare system and sensors programs ( primarily aegis ) and lower sales on various service programs , partially offset by lower orders on ship and aviation systems ( primarily mh-60 ) . .
|
what is the growth rate in net sales for mst in 2013?
|
-5.6%
|
{
"answer": "-5.6%",
"decimal": -0.055999999999999994,
"type": "percentage"
}
| |
notes to consolidated financial statements of annual compensation was made .for the years ended december 31 , 2009 , 2008 and , 2007 , we made matching contributions of approxi- mately $ 450000 , $ 503000 and $ 457000 , respectively .note 17 / commitments and contingencies we and our operating partnership are not presently involved in any mate- rial litigation nor , to our knowledge , is any material litigation threatened against us or our properties , other than routine litigation arising in the ordinary course of business .management believes the costs , if any , incurred by us and our operating partnership related to this litigation will not materially affect our financial position , operating results or liquidity .we have entered into employment agreements with certain executives , which expire between june 2010 and january 2013 .the minimum cash-based compensation , including base salary and guaran- teed bonus payments , associated with these employment agreements totals approximately $ 7.8 million for 2010 .in march 1998 , we acquired an operating sub-leasehold posi- tion at 420 lexington avenue .the operating sub-leasehold position required annual ground lease payments totaling $ 6.0 million and sub- leasehold position payments totaling $ 1.1 million ( excluding an operating sub-lease position purchased january 1999 ) .in june 2007 , we renewed and extended the maturity date of the ground lease at 420 lexington avenue through december 31 , 2029 , with an option for further exten- sion through 2080 .ground lease rent payments through 2029 will total approximately $ 10.9 million per year .thereafter , the ground lease will be subject to a revaluation by the parties thereto .in june 2009 , we acquired an operating sub-leasehold posi- tion at 420 lexington avenue for approximately $ 7.7 million .these sub-leasehold positions were scheduled to mature in december 2029 .in october 2009 , we acquired the remaining sub-leasehold position for $ 7.6 million .the property located at 711 third avenue operates under an operating sub-lease , which expires in 2083 .under the sub-lease , we are responsible for ground rent payments of $ 1.55 million annually through july 2011 on the 50% ( 50 % ) portion of the fee we do not own .the ground rent is reset after july 2011 based on the estimated fair market value of the property .we have an option to buy out the sub-lease at a fixed future date .the property located at 461 fifth avenue operates under a ground lease ( approximately $ 2.1 million annually ) with a term expiration date of 2027 and with two options to renew for an additional 21 years each , followed by a third option for 15 years .we also have an option to purchase the ground lease for a fixed price on a specific date .the property located at 625 madison avenue operates under a ground lease ( approximately $ 4.6 million annually ) with a term expiration date of 2022 and with two options to renew for an additional 23 years .the property located at 1185 avenue of the americas oper- ates under a ground lease ( approximately $ 8.5 million in 2010 and $ 6.9 million annually thereafter ) with a term expiration of 2020 and with an option to renew for an additional 23 years .in april 1988 , the sl green predecessor entered into a lease agreement for the property at 673 first avenue , which has been capitalized for financial statement purposes .land was estimated to be approximately 70% ( 70 % ) of the fair market value of the property .the portion of the lease attributed to land is classified as an operating lease and the remainder as a capital lease .the initial lease term is 49 years with an option for an additional 26 years .beginning in lease years 11 and 25 , the lessor is entitled to additional rent as defined by the lease agreement .we continue to lease the 673 first avenue property , which has been classified as a capital lease with a cost basis of $ 12.2 million and cumulative amortization of $ 5.5 million and $ 5.2 million at december 31 , 2009 and 2008 , respectively .the following is a schedule of future minimum lease payments under capital leases and noncancellable operating leases with initial terms in excess of one year as of december 31 , 2009 ( in thousands ) : non-cancellable december 31 , capital lease operating leases .
[['december 31,', 'capital lease', 'non-cancellable operating leases'], ['2010', '$ 1451', '$ 31347'], ['2011', '1555', '28929'], ['2012', '1555', '28179'], ['2013', '1555', '28179'], ['2014', '1555', '28179'], ['thereafter', '45649', '580600'], ['total minimum lease payments', '53320', '$ 725413'], ['less amount representing interest', '-36437 ( 36437 )', ''], ['present value of net minimum lease payments', '$ 16883', '']]
note 18 / financial instruments : derivatives and hedging we recognize all derivatives on the balance sheet at fair value .derivatives that are not hedges must be adjusted to fair value through income .if a derivative is a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earn- ings , or recognized in other comprehensive income until the hedged item is recognized in earnings .the ineffective portion of a derivative 2019s change in fair value will be immediately recognized in earnings .reported net income and stockholders 2019 equity may increase or decrease prospectively , depending on future levels of interest rates and other variables affecting the fair values of derivative instruments and hedged items , but will have no effect on cash flows. .
|
what percent of total minimum lease payments are due after 5 years?
|
85.6%
|
{
"answer": "85.6%",
"decimal": 0.856,
"type": "percentage"
}
| |
entergy texas , inc .management's financial discussion and analysis net revenue 2008 compared to 2007 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges .following is an analysis of the change in net revenue comparing 2008 to 2007 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2007 net revenue', '$ 442.3'], ['volume/weather', '-4.6 ( 4.6 )'], ['reserve equalization', '-3.3 ( 3.3 )'], ['securitization transition charge', '9.1'], ['fuel recovery', '7.5'], ['other', '-10.1 ( 10.1 )'], ['2008 net revenue', '$ 440.9']]
the volume/weather variance is primarily due to decreased usage during the unbilled sales period .see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues .the reserve equalization variance is primarily due to lower reserve equalization revenue related to changes in the entergy system generation mix compared to the same period in 2007 .the securitization transition charge variance is primarily due to the issuance of securitization bonds .in june 2007 , entergy gulf states reconstruction funding i , a company wholly-owned and consolidated by entergy texas , issued securitization bonds and with the proceeds purchased from entergy texas the transition property , which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds .see note 5 to the financial statements for additional information regarding the securitization bonds .the fuel recovery variance is primarily due to a reserve for potential rate refunds made in the first quarter 2007 as a result of a puct ruling related to the application of past puct rulings addressing transition to competition in texas .the other variance is primarily caused by various operational effects of the jurisdictional separation on revenues and fuel and purchased power expenses .gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues increased $ 229.3 million primarily due to the following reasons : an increase of $ 157 million in fuel cost recovery revenues due to higher fuel rates and increased usage , partially offset by interim fuel refunds to customers for fuel cost recovery over-collections through november 2007 .the refund was distributed over a two-month period beginning february 2008 .the interim refund and the puct approval is discussed in note 2 to the financial statements ; an increase of $ 37.1 million in affiliated wholesale revenue primarily due to increases in the cost of energy ; an increase in transition charge amounts collected from customers to service the securitization bonds as discussed above .see note 5 to the financial statements for additional information regarding the securitization bonds ; and implementation of an interim surcharge to collect $ 10.3 million in under-recovered incremental purchased capacity costs incurred through july 2007 .the surcharge was collected over a two-month period beginning february 2008 .the incremental capacity recovery rider and puct approval is discussed in note 2 to the financial statements. .
|
what is the growth rate in net revenue in 2008 for entergy texas , inc.?
|
-0.3%
|
{
"answer": "-0.3%",
"decimal": -0.003,
"type": "percentage"
}
| |
each clearing firm is required to deposit and maintain balances in the form of cash , u.s .government securities , certain foreign government securities , bank letters of credit or other approved investments to satisfy performance bond and guaranty fund requirements .all non-cash deposits are marked-to-market and haircut on a daily basis .securities deposited by the clearing firms are not reflected in the consolidated financial statements and the clearing house does not earn any interest on these deposits .these balances may fluctuate significantly over time due to investment choices available to clearing firms and changes in the amount of contributions required .in addition , the rules and regulations of cbot require that collateral be provided for delivery of physical commodities , maintenance of capital requirements and deposits on pending arbitration matters .to satisfy these requirements , clearing firms that have accounts that trade certain cbot products have deposited cash , u.s .treasury securities or letters of credit .the clearing house marks-to-market open positions at least once a day ( twice a day for futures and options contracts ) , and require payment from clearing firms whose positions have lost value and make payments to clearing firms whose positions have gained value .the clearing house has the capability to mark-to-market more frequently as market conditions warrant .under the extremely unlikely scenario of simultaneous default by every clearing firm who has open positions with unrealized losses , the maximum exposure related to positions other than credit default and interest rate swap contracts would be one half day of changes in fair value of all open positions , before considering the clearing houses 2019 ability to access defaulting clearing firms 2019 collateral deposits .for cleared credit default swap and interest rate swap contracts , the maximum exposure related to cme 2019s guarantee would be one full day of changes in fair value of all open positions , before considering cme 2019s ability to access defaulting clearing firms 2019 collateral .during 2017 , the clearing house transferred an average of approximately $ 2.4 billion a day through the clearing system for settlement from clearing firms whose positions had lost value to clearing firms whose positions had gained value .the clearing house reduces the guarantee exposure through initial and maintenance performance bond requirements and mandatory guaranty fund contributions .the company believes that the guarantee liability is immaterial and therefore has not recorded any liability at december 31 , 2017 .at december 31 , 2016 , performance bond and guaranty fund contribution assets on the consolidated balance sheets included cash as well as u.s .treasury and u.s .government agency securities with maturity dates of 90 days or less .the u.s .treasury and u.s .government agency securities were purchased by cme , at its discretion , using cash collateral .the benefits , including interest earned , and risks of ownership accrue to cme .interest earned is included in investment income on the consolidated statements of income .there were no u.s .treasury and u.s .government agency securities held at december 31 , 2017 .the amortized cost and fair value of these securities at december 31 , 2016 were as follows : ( in millions ) amortized .
[['( in millions )', '2016 amortizedcost', '2016 fairvalue'], ['u.s . treasury securities', '$ 5548.9', '$ 5549.0'], ['u.s . government agency securities', '1228.3', '1228.3']]
cme has been designated as a systemically important financial market utility by the financial stability oversight council and maintains a cash account at the federal reserve bank of chicago .at december 31 , 2017 and december 31 , 2016 , cme maintained $ 34.2 billion and $ 6.2 billion , respectively , within the cash account at the federal reserve bank of chicago .clearing firms , at their option , may instruct cme to deposit the cash held by cme into one of the ief programs .the total principal in the ief programs was $ 1.1 billion at december 31 , 2017 and $ 6.8 billion at december 31 .
|
what was the average principal in the ief programs at december 31 , 2017 and 2016 , in billions?
|
3.95
|
{
"answer": "3.95",
"decimal": 3.95,
"type": "float"
}
| |
to the two-class method .the provisions of this guidance were required for fiscal years beginning after december 15 , 2008 .the company has adopted this guidance for current period computations of earnings per share , and has updated prior period computations of earnings per share .the adoption of this guidance in the first quarter of 2009 did not have a material impact on the company 2019s computation of earnings per share .refer to note 11 for further discussion .in june 2008 , the fasb issued accounting guidance addressing the determination of whether provisions that introduce adjustment features ( including contingent adjustment features ) would prevent treating a derivative contract or an embedded derivative on a company 2019s own stock as indexed solely to the company 2019s stock .this guidance was effective for fiscal years beginning after december 15 , 2008 .the adoption of this guidance in the first quarter of 2009 did not have any impact on the company 2019s consolidated financial statements .in march 2008 , the fasb issued accounting guidance intended to improve financial reporting about derivative instruments and hedging activities by requiring enhanced disclosures to enable investors to better understand their effects on an entity 2019s financial position , financial performance , and cash flows .this guidance was effective for the fiscal years and interim periods beginning after november 15 , 2008 .the adoption of this guidance in the first quarter of 2009 did not have any impact on the company 2019s consolidated financial statements .in december 2007 , the fasb issued replacement guidance that requires the acquirer of a business to recognize and measure the identifiable assets acquired , the liabilities assumed , and any non-controlling interest in the acquired entity at fair value .this replacement guidance also requires transaction costs related to the business combination to be expensed as incurred .it was effective for business combinations for which the acquisition date was on or after the start of the fiscal year beginning after december 15 , 2008 .the adoption of this guidance in the first quarter of 2009 did not have any impact on the company 2019s consolidated financial statements .in december 2007 , the fasb issued accounting guidance that establishes accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary .this guidance was effective for fiscal years beginning after december 15 , 2008 .the adoption of this guidance in the first quarter of 2009 did not have any impact on the company 2019s consolidated financial statements .in september 2006 , the fasb issued accounting guidance which defines fair value , establishes a framework for measuring fair value in accordance with generally accepted accounting principles and expands disclosures about fair value measurements .this guidance was effective for fiscal years beginning after november 15 , 2007 , however the fasb delayed the effective date to fiscal years beginning after november 15 , 2008 for nonfinancial assets and nonfinancial liabilities , except those items recognized or disclosed at fair value on an annual or more frequent basis .the adoption of this guidance for nonfinancial assets and liabilities in the first quarter of 2009 did not have any impact on the company 2019s consolidated financial statements .3 .inventories inventories consisted of the following: .
[['( in thousands )', 'december 31 , 2009', 'december 31 , 2008'], ['finished goods', '$ 155596', '$ 187072'], ['raw materials', '785', '731'], ['work-in-process', '71', '6'], ['subtotal inventories', '156452', '187809'], ['inventories reserve', '-7964 ( 7964 )', '-5577 ( 5577 )'], ['total inventories', '$ 148488', '$ 182232']]
.
|
what was the percent of the change in the finished goods from 2008 to 2009
|
-16.8%
|
{
"answer": "-16.8%",
"decimal": -0.168,
"type": "percentage"
}
|
the finished goods decreased by 16.8% from 2008 to 2009
|
pricing the loans .when available , valuation assumptions included observable inputs based on whole loan sales .adjustments are made to these assumptions to account for situations when uncertainties exist , including market conditions and liquidity .credit risk is included as part of our valuation process for these loans by considering expected rates of return for market participants for similar loans in the marketplace .based on the significance of unobservable inputs , we classify this portfolio as level 3 .equity investments the valuation of direct and indirect private equity investments requires significant management judgment due to the absence of quoted market prices , inherent lack of liquidity and the long-term nature of such investments .the carrying values of direct and affiliated partnership interests reflect the expected exit price and are based on various techniques including publicly traded price , multiples of adjusted earnings of the entity , independent appraisals , anticipated financing and sale transactions with third parties , or the pricing used to value the entity in a recent financing transaction .in september 2009 , the fasb issued asu 2009-12 2013 fair value measurements and disclosures ( topic 820 ) 2013 investments in certain entities that calculate net asset value per share ( or its equivalent ) .based on the guidance , we value indirect investments in private equity funds based on net asset value as provided in the financial statements that we receive from their managers .due to the time lag in our receipt of the financial information and based on a review of investments and valuation techniques applied , adjustments to the manager-provided value are made when available recent portfolio company information or market information indicates a significant change in value from that provided by the manager of the fund .these investments are classified as level 3 .customer resale agreements we account for structured resale agreements , which are economically hedged using free-standing financial derivatives , at fair value .the fair value for structured resale agreements is determined using a model which includes observable market data such as interest rates as inputs .readily observable market inputs to this model can be validated to external sources , including yield curves , implied volatility or other market-related data .these instruments are classified as level 2 .blackrock series c preferred stock effective february 27 , 2009 , we elected to account for the approximately 2.9 million shares of the blackrock series c preferred stock received in a stock exchange with blackrock at fair value .the series c preferred stock economically hedges the blackrock ltip liability that is accounted for as a derivative .the fair value of the series c preferred stock is determined using a third-party modeling approach , which includes both observable and unobservable inputs .this approach considers expectations of a default/liquidation event and the use of liquidity discounts based on our inability to sell the security at a fair , open market price in a timely manner .due to the significance of unobservable inputs , this security is classified as level 3 .level 3 assets and liabilities financial instruments are considered level 3 when their values are determined using pricing models , discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable .level 3 assets and liabilities dollars in millions level 3 assets level 3 liabilities % ( % ) of total assets at fair value % ( % ) of total liabilities at fair value consolidated assets consolidated liabilities .
[['dollars in millions', 'total level 3 assets', 'total level 3 liabilities', '% ( % ) of total assets at fair value', '% ( % ) of total liabilities at fair value', '% ( % ) of consolidated assets', '% ( % ) of consolidated liabilities', ''], ['december 31 2009', '$ 14151', '$ 295', '22% ( 22 % )', '6% ( 6 % )', '5% ( 5 % )', '< 1', '% ( % )'], ['december 31 2008', '7012', '22', '19% ( 19 % )', '< 1% ( 1 % )', '2% ( 2 % )', '< 1% ( 1 % )', '']]
during 2009 , securities transferred into level 3 from level 2 exceeded securities transferred out by $ 4.4 billion .total securities measured at fair value and classified in level 3 at december 31 , 2009 and december 31 , 2008 included securities available for sale and trading securities consisting primarily of non-agency residential mortgage-backed securities and asset- backed securities where management determined that the volume and level of activity for these assets had significantly decreased .there have been no recent new 201cprivate label 201d issues in the residential mortgage-backed securities market .the lack of relevant market activity for these securities resulted in management modifying its valuation methodology for the instruments transferred in 2009 .other level 3 assets include certain commercial mortgage loans held for sale , certain equity securities , auction rate securities , corporate debt securities , private equity investments , residential mortgage servicing rights and other assets. .
|
what percentage increase was there between 2008 and 2009 re : level 3 assets?
|
101.8%
|
{
"answer": "101.8%",
"decimal": 1.018,
"type": "percentage"
}
| |
visa inc .notes to consolidated financial statements 2014 ( continued ) september 30 , 2012 acquired by the company .the eip will continue to be in effect until all of the common stock available under the eip is delivered and all restrictions on those shares have lapsed , unless the eip is terminated earlier by the company 2019s board of directors .no awards may be granted under the plan on or after 10 years from its effective date .share-based compensation cost is recorded net of estimated forfeitures on a straight-line basis for awards with service conditions only , and on a graded-vesting basis for awards with service , performance and market conditions .the company 2019s estimated forfeiture rate is based on an evaluation of historical , actual and trended forfeiture data .for fiscal 2012 , 2011 , and 2010 , the company recorded share-based compensation cost of $ 147 million , $ 154 million and $ 135 million , respectively , in personnel on its consolidated statements of operations .the amount of capitalized share-based compensation cost was immaterial during fiscal 2012 , 2011 , and 2010 .options options issued under the eip expire 10 years from the date of grant and vest ratably over three years from the date of grant , subject to earlier vesting in full under certain conditions .during fiscal 2012 , 2011 and 2010 , the fair value of each stock option was estimated on the date of grant using a black-scholes option pricing model with the following weighted-average assumptions : 2012 2011 2010 ( 1 ) expected term ( in years ) ( 2 ) .........................................6.02 5.16 3.46 risk-free rate of return ( 3 ) ..........................................1.2% ( 1.2 % ) 1.2% ( 1.2 % ) 1.4% ( 1.4 % ) expected volatility ( 4 ) ..............................................34.9% ( 34.9 % ) 33.4% ( 33.4 % ) 36.4% ( 36.4 % ) expected dividend yield ( 5 ) .........................................0.9% ( 0.9 % ) 0.8% ( 0.8 % ) 0.7% ( 0.7 % ) .
[['', '2012', '2011', '2010 ( 1 )'], ['expected term ( in years ) ( 2 )', '6.02', '5.16', '3.46'], ['risk-free rate of return ( 3 )', '1.2% ( 1.2 % )', '1.2% ( 1.2 % )', '1.4% ( 1.4 % )'], ['expected volatility ( 4 )', '34.9% ( 34.9 % )', '33.4% ( 33.4 % )', '36.4% ( 36.4 % )'], ['expected dividend yield ( 5 )', '0.9% ( 0.9 % )', '0.8% ( 0.8 % )', '0.7% ( 0.7 % )'], ['fair value per option granted', '$ 29.65', '$ 27.50', '$ 29.46']]
( 1 ) includes the impact of 1.6 million replacement awards issued to former cybersource employees as part of the cybersource acquisition in july 2010 .these awards have a weighted-average exercise price of $ 47.34 per share and vest over a period of less than three years from the replacement grant date .( 2 ) based on a set of peer companies that management believes is generally comparable to visa .( 3 ) based upon the zero coupon u.s .treasury bond rate over the expected term of the awards .( 4 ) based on the average of the company 2019s implied and historical volatility .as the company 2019s publicly traded stock history is relatively short , historical volatility relies in part on the historical volatility of a group of peer companies that management believes is generally comparable to visa .the expected volatilities ranged from 31% ( 31 % ) to 35% ( 35 % ) in fiscal 2012 .( 5 ) based on the company 2019s annual dividend rate on the date of grant. .
|
what is the total value of the awards issued to former cybersource employee , ( in million ) ?
|
75.74
|
{
"answer": "75.74",
"decimal": 75.74,
"type": "float"
}
| |
74 2012 ppg annual report and form 10-k 25 .separation and merger transaction on january , 28 , 2013 , the company completed the previously announced separation of its commodity chemicals business and merger of its wholly-owned subsidiary , eagle spinco inc. , with a subsidiary of georgia gulf corporation in a tax efficient reverse morris trust transaction ( the 201ctransaction 201d ) .pursuant to the merger , eagle spinco , the entity holding ppg's former commodity chemicals business , is now a wholly-owned subsidiary of georgia gulf .the closing of the merger followed the expiration of the related exchange offer and the satisfaction of certain other conditions .the combined company formed by uniting georgia gulf with ppg's former commodity chemicals business is named axiall corporation ( 201caxiall 201d ) .ppg holds no ownership interest in axiall .ppg received the necessary ruling from the internal revenue service and as a result this transaction was generally tax free to ppg and its shareholders .under the terms of the exchange offer , 35249104 shares of eagle spinco common stock were available for distribution in exchange for shares of ppg common stock accepted in the offer .following the merger , each share of eagle spinco common stock automatically converted into the right to receive one share of axiall corporation common stock .accordingly , ppg shareholders who tendered their shares of ppg common stock as part of this offer received 3.2562 shares of axiall common stock for each share of ppg common stock accepted for exchange .ppg was able to accept the maximum of 10825227 shares of ppg common stock for exchange in the offer , and thereby , reduced its outstanding shares by approximately 7% ( 7 % ) .under the terms of the transaction , ppg received $ 900 million of cash and 35.2 million shares of axiall common stock ( market value of $ 1.8 billion on january 25 , 2013 ) which was distributed to ppg shareholders by the exchange offer as described above .the cash consideration is subject to customary post-closing adjustment , including a working capital adjustment .in the transaction , ppg transferred environmental remediation liabilities , defined benefit pension plan assets and liabilities and other post-employment benefit liabilities related to the commodity chemicals business to axiall .ppg will report a gain on the transaction reflecting the excess of the sum of the cash proceeds received and the cost ( closing stock price on january 25 , 2013 ) of the ppg shares tendered and accepted in the exchange for the 35.2 million shares of axiall common stock over the net book value of the net assets of ppg's former commodity chemicals business .the transaction will also result in a net partial settlement loss associated with the spin out and termination of defined benefit pension liabilities and the transfer of other post-retirement benefit liabilities under the terms of the transaction .during 2012 , the company incurred $ 21 million of pretax expense , primarily for professional services , related to the transaction .additional transaction-related expenses will be incurred in 2013 .ppg will report the results of its commodity chemicals business for january 2013 and a net gain on the transaction as results from discontinued operations when it reports its results for the quarter ending march 31 , 2013 .in the ppg results for prior periods , presented for comparative purposes beginning with the first quarter 2013 , the results of its former commodity chemicals business will be reclassified from continuing operations and presented as the results from discontinued operations .the net sales and income before income taxes of the commodity chemicals business that will be reclassified and reported as discontinued operations are presented in the table below for the years ended december 31 , 2012 , 2011 and 2010: .
[['millions', 'year-ended 2012', 'year-ended 2011', 'year-ended 2010'], ['net sales', '$ 1700', '$ 1741', '$ 1441'], ['income before income taxes', '$ 368', '$ 376', '$ 187']]
income before income taxes for the year ended december 31 , 2012 , 2011 and 2010 is $ 4 million lower , $ 6 million higher and $ 2 million lower , respectively , than segment earnings for the ppg commodity chemicals segment reported for these periods .these differences are due to the inclusion of certain gains , losses and expenses associated with the chlor-alkali and derivatives business that were not reported in the ppg commodity chemicals segment earnings in accordance with the accounting guidance on segment reporting .table of contents notes to the consolidated financial statements .
|
for the eagle spinoff , how much in total did ppg shareholders receive in us$ b?
|
2.7
|
{
"answer": "2.7",
"decimal": 2.7,
"type": "float"
}
| |
note 6 : allowance for uncollectible accounts the following table provides the changes in the allowances for uncollectible accounts for the years ended december 31: .
[['', '2018', '2017', '2016'], ['balance as of january 1', '$ -42 ( 42 )', '$ -40 ( 40 )', '$ -39 ( 39 )'], ['amounts charged to expense', '-33 ( 33 )', '-29 ( 29 )', '-27 ( 27 )'], ['amounts written off', '34', '30', '29'], ['recoveries of amounts written off', '-4 ( 4 )', '-3 ( 3 )', '-3 ( 3 )'], ['balance as of december 31', '$ -45 ( 45 )', '$ -42 ( 42 )', '$ -40 ( 40 )']]
note 7 : regulatory assets and liabilities regulatory assets regulatory assets represent costs that are probable of recovery from customers in future rates .the majority of the regulatory assets earn a return .the following table provides the composition of regulatory assets as of december 31 : 2018 2017 deferred pension expense ...................................................$ 362 $ 285 removal costs recoverable through rates .......................................292 269 regulatory balancing accounts ...............................................110 113 san clemente dam project costs ..............................................85 89 debt expense .............................................................70 67 purchase premium recoverable through rates ....................................56 57 deferred tank painting costs .................................................42 42 make-whole premium on early extinguishment of debt ............................33 27 other ...................................................................106 112 total regulatory assets ......................................................$ 1156 $ 1061 the company 2019s deferred pension expense includes a portion of the underfunded status that is probable of recovery through rates in future periods of $ 352 million and $ 270 million as of december 31 , 2018 and 2017 , respectively .the remaining portion is the pension expense in excess of the amount contributed to the pension plans which is deferred by certain subsidiaries and will be recovered in future service rates as contributions are made to the pension plan .removal costs recoverable through rates represent costs incurred for removal of property , plant and equipment or other retirement costs .regulatory balancing accounts accumulate differences between revenues recognized and authorized revenue requirements until they are collected from customers or are refunded .regulatory balancing accounts include low income programs and purchased power and water accounts .san clemente dam project costs represent costs incurred and deferred by the company 2019s utility subsidiary in california pursuant to its efforts to investigate alternatives and remove the dam due to potential earthquake and flood safety concerns .in june 2012 , the california public utilities commission ( 201ccpuc 201d ) issued a decision authorizing implementation of a project to reroute the carmel river and remove the san clemente dam .the project includes the company 2019s utility subsidiary in california , the california state conservancy and the national marine fisheries services .under the order 2019s terms , the cpuc has authorized recovery for .
|
what was total amounts written off for the three years?
|
93
|
{
"answer": "93",
"decimal": 93,
"type": "float"
}
| |
adobe systems incorporated notes to consolidated financial statements ( continued ) accounting for uncertainty in income taxes during fiscal 2014 and 2013 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : .
[['', '2014', '2013'], ['beginning balance', '$ 136098', '$ 160468'], ['gross increases in unrecognized tax benefits 2013 prior year tax positions', '144', '20244'], ['gross increases in unrecognized tax benefits 2013 current year tax positions', '18877', '16777'], ['settlements with taxing authorities', '-995 ( 995 )', '-55851 ( 55851 )'], ['lapse of statute of limitations', '-1630 ( 1630 )', '-4066 ( 4066 )'], ['foreign exchange gains and losses', '-3646 ( 3646 )', '-1474 ( 1474 )'], ['ending balance', '$ 148848', '$ 136098']]
as of november 28 , 2014 , the combined amount of accrued interest and penalties related to tax positions taken on our tax returns and included in non-current income taxes payable was approximately $ 14.6 million .we file income tax returns in the u.s .on a federal basis and in many u.s .state and foreign jurisdictions .we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities .our major tax jurisdictions are ireland , california and the u.s .for ireland , california and the u.s. , the earliest fiscal years open for examination are 2008 , 2008 and 2010 , respectively .we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from the current examinations .we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position .in july 2013 , a u.s .income tax examination covering fiscal 2008 and 2009 was completed .our accrued tax and interest related to these years was $ 48.4 million and was previously reported in long-term income taxes payable .we settled the tax obligation resulting from this examination with cash and income tax assets totaling $ 41.2 million , and the resulting $ 7.2 million income tax benefit was recorded in the third quarter of fiscal 2013 .the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process .these events could cause large fluctuations in the balance sheet classification of current and non-current assets and liabilities .we believe that within the next 12 months , it is reasonably possible that either certain audits will conclude or statutes of limitations on certain income tax examination periods will expire , or both .given the uncertainties described above , we can only determine a range of estimated potential decreases in underlying unrecognized tax benefits ranging from $ 0 to approximately $ 5 million .note 10 .restructuring fiscal 2014 restructuring plan in the fourth quarter of fiscal 2014 , in order to better align our global resources for digital media and digital marketing , we initiated a restructuring plan to vacate our research and development facility in china and our sales and marketing facility in russia .this plan consisted of reductions of approximately 350 full-time positions and we recorded restructuring charges of approximately $ 18.8 million related to ongoing termination benefits for the positions eliminated .during fiscal 2015 , we intend to vacate both of these facilities .the amount accrued for the fair value of future contractual obligations under these operating leases was insignificant .other restructuring plans during the past several years , we have implemented other restructuring plans consisting of reductions in workforce and the consolidation of facilities to better align our resources around our business strategies .as of november 28 , 2014 , we considered our other restructuring plans to be substantially complete .we continue to make cash outlays to settle obligations under these plans , however the current impact to our consolidated financial statements is not significant. .
|
what is the percentage change in the total gross amount of unrecognized tax benefits from 2012 to 2013?
|
-15.2%
|
{
"answer": "-15.2%",
"decimal": -0.152,
"type": "percentage"
}
| |
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 discussed in note 4 , the irs has completed its examinations and issued notices of deficiency for tax years 1995 through 2004 , and we are in different stages of the irs appeals process for these years .the irs is examining our tax returns for tax years 2005 and 2006 .in the third quarter of 2007 , we believe that we reached an agreement in principle with the irs to resolve all of the issues , except interest , related to tax years 1995 through 1998 , including the previously reported dispute over certain donations of property .we anticipate signing a closing agreement in 2008 .at december 31 , 2007 , we have recorded a current liability of $ 140 million for tax payments in 2008 related to federal and state income tax examinations .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 2007 2006 2005 .
[['millions of dollars', '2007', '2006', '2005'], ['rental income', '$ 68', '$ 83', '$ 59'], ['net gain on non-operating asset dispositions', '52', '72', '135'], ['interest income', '50', '29', '17'], ['sale of receivables fees', '-35 ( 35 )', '-33 ( 33 )', '-23 ( 23 )'], ['non-operating environmental costs and other', '-19 ( 19 )', '-33 ( 33 )', '-43 ( 43 )'], ['total', '$ 116', '$ 118', '$ 145']]
12 .share repurchase program on january 30 , 2007 , our board of directors authorized the repurchase of up to 20 million shares of union pacific corporation common stock through the end of 2009 .management 2019s assessments of market conditions and other pertinent facts guide the timing and volume of all repurchases .we expect to fund our common stock repurchases through cash generated from operations , the sale or lease of various operating and non- operating properties , debt issuances , and cash on hand at december 31 , 2007 .during 2007 , we repurchased approximately 13 million shares under this program at an aggregate purchase price of approximately $ 1.5 billion .these shares were recorded in treasury stock at cost , which includes any applicable commissions and fees. .
|
what was the percentage of the total other income in 2007 that was rental income
|
58.6%
|
{
"answer": "58.6%",
"decimal": 0.586,
"type": "percentage"
}
| |
united parcel service , inc .and subsidiaries notes to consolidated financial statements floating-rate senior notes the floating-rate senior notes with principal amounts totaling $ 1.043 billion , bear interest at either one or three-month libor , less a spread ranging from 30 to 45 basis points .the average interest rate for 2017 and 2016 was 0.74% ( 0.74 % ) and 0.21% ( 0.21 % ) , respectively .these notes are callable at various times after 30 years at a stated percentage of par value , and putable by the note holders at various times after one year at a stated percentage of par value .the notes have maturities ranging from 2049 through 2067 .we classified the floating-rate senior notes that are putable by the note holder as a long-term liability , due to our intent and ability to refinance the debt if the put option is exercised by the note holder .in march and november 2017 , we issued floating-rate senior notes in the principal amounts of $ 147 and $ 64 million , respectively , which are included in the $ 1.043 billion floating-rate senior notes described above .these notes will bear interest at three-month libor less 30 and 35 basis points , respectively and mature in 2067 .the remaining three floating-rate senior notes in the principal amounts of $ 350 , $ 400 and $ 500 million , bear interest at three-month libor , plus a spread ranging from 15 to 45 basis points .the average interest rate for 2017 and 2016 was 0.50% ( 0.50 % ) and 0.0% ( 0.0 % ) , respectively .these notes are not callable .the notes have maturities ranging from 2021 through 2023 .we classified the floating-rate senior notes that are putable by the note holder as a long-term liability , due to our intent and ability to refinance the debt if the put option is exercised by the note holder .capital lease obligations we have certain property , plant and equipment subject to capital leases .some of the obligations associated with these capital leases have been legally defeased .the recorded value of our property , plant and equipment subject to capital leases is as follows as of december 31 ( in millions ) : .
[['', '2017', '2016'], ['vehicles', '$ 70', '$ 68'], ['aircraft', '2291', '2291'], ['buildings', '285', '190'], ['accumulated amortization', '-990 ( 990 )', '-896 ( 896 )'], ['property plant and equipment subject to capital leases', '$ 1656', '$ 1653']]
these capital lease obligations have principal payments due at various dates from 2018 through 3005 .facility notes and bonds we have entered into agreements with certain municipalities to finance the construction of , or improvements to , facilities that support our u.s .domestic package and supply chain & freight operations in the united states .these facilities are located around airport properties in louisville , kentucky ; dallas , texas ; and philadelphia , pennsylvania .under these arrangements , we enter into a lease or loan agreement that covers the debt service obligations on the bonds issued by the municipalities , as follows : 2022 bonds with a principal balance of $ 149 million issued by the louisville regional airport authority associated with our worldport facility in louisville , kentucky .the bonds , which are due in january 2029 , bear interest at a variable rate , and the average interest rates for 2017 and 2016 were 0.83% ( 0.83 % ) and 0.37% ( 0.37 % ) , respectively .2022 bonds with a principal balance of $ 42 million and due in november 2036 issued by the louisville regional airport authority associated with our air freight facility in louisville , kentucky .the bonds bear interest at a variable rate , and the average interest rates for 2017 and 2016 were 0.80% ( 0.80 % ) and 0.36% ( 0.36 % ) , respectively .2022 bonds with a principal balance of $ 29 million issued by the dallas / fort worth international airport facility improvement corporation associated with our dallas , texas airport facilities .the bonds are due in may 2032 and bear interest at a variable rate , however the variable cash flows on the obligation have been swapped to a fixed 5.11% ( 5.11 % ) .2022 in september 2015 , we entered into an agreement with the delaware county , pennsylvania industrial development authority , associated with our philadelphia , pennsylvania airport facilities , for bonds issued with a principal balance of $ 100 million .these bonds , which are due september 2045 , bear interest at a variable rate .the average interest rate for 2017 and 2016 was 0.78% ( 0.78 % ) and 0.40% ( 0.40 % ) , respectively. .
|
what was the change in millions of vehicles from 2016 to 2017?
|
2
|
{
"answer": "2",
"decimal": 2,
"type": "float"
}
| |
on a regular basis our special asset committee closely monitors loans , primarily commercial loans , that are not included in the nonperforming or accruing past due categories and for which we are uncertain about the borrower 2019s ability to comply with existing repayment terms .these loans totaled $ .2 billion at both december 31 , 2014 and december 31 , 2013 .home equity loan portfolio our home equity loan portfolio totaled $ 34.7 billion as of december 31 , 2014 , or 17% ( 17 % ) of the total loan portfolio .of that total , $ 20.4 billion , or 59% ( 59 % ) , was outstanding under primarily variable-rate home equity lines of credit and $ 14.3 billion , or 41% ( 41 % ) , consisted of closed-end home equity installment loans .approximately 3% ( 3 % ) of the home equity portfolio was on nonperforming status as of december 31 , 2014 .as of december 31 , 2014 , we are in an originated first lien position for approximately 51% ( 51 % ) of the total portfolio and , where originated as a second lien , we currently hold or service the first lien position for approximately an additional 2% ( 2 % ) of the portfolio .the remaining 47% ( 47 % ) of the portfolio was secured by second liens where we do not hold the first lien position .the credit performance of the majority of the home equity portfolio where we are in , hold or service the first lien position , is superior to the portion of the portfolio where we hold the second lien position but do not hold the first lien .lien position information is generally based upon original ltv at the time of origination .however , after origination pnc is not typically notified when a senior lien position that is not held by pnc is satisfied .therefore , information about the current lien status of junior lien loans is less readily available in cases where pnc does not also hold the senior lien .additionally , pnc is not typically notified when a junior lien position is added after origination of a pnc first lien .this updated information for both junior and senior liens must be obtained from external sources , and therefore , pnc has contracted with an industry-leading third-party service provider to obtain updated loan , lien and collateral data that is aggregated from public and private sources .we track borrower performance monthly , including obtaining original ltvs , updated fico scores at least quarterly , updated ltvs semi-annually , and other credit metrics at least quarterly , including the historical performance of any mortgage loans regardless of lien position that we do or do not hold .this information is used for internal reporting and risk management .for internal reporting and risk management we also segment the population into pools based on product type ( e.g. , home equity loans , brokered home equity loans , home equity lines of credit , brokered home equity lines of credit ) .as part of our overall risk analysis and monitoring , we segment the home equity portfolio based upon the delinquency , modification status and bankruptcy status of these loans , as well as the delinquency , modification status and bankruptcy status of any mortgage loan with the same borrower ( regardless of whether it is a first lien senior to our second lien ) .in establishing our alll for non-impaired loans , we primarily utilize a delinquency roll-rate methodology for pools of loans .in accordance with accounting principles , under this methodology , we establish our allowance based upon incurred losses , not lifetime expected losses .the roll-rate methodology estimates transition/roll of loan balances from one delinquency state ( e.g. , 30-59 days past due ) to another delinquency state ( e.g. , 60-89 days past due ) and ultimately to charge-off .the roll through to charge-off is based on pnc 2019s actual loss experience for each type of pool .each of our home equity pools contains both first and second liens .our experience has been that the ratio of first to second lien loans has been consistent over time and the charge-off amounts for the pools , used to establish our allowance , include losses on both first and second liens loans .generally , our variable-rate home equity lines of credit have either a seven or ten year draw period , followed by a 20-year amortization term .during the draw period , we have home equity lines of credit where borrowers pay either interest or principal and interest .we view home equity lines of credit where borrowers are paying principal and interest under the draw period as less risky than those where the borrowers are paying interest only , as these borrowers have a demonstrated ability to make some level of principal and interest payments .the risk associated with the borrower 2019s ability to satisfy the loan terms upon the draw period ending is considered in establishing our alll .based upon outstanding balances at december 31 , 2014 , the following table presents the periods when home equity lines of credit draw periods are scheduled to end .table 36 : home equity lines of credit 2013 draw period end in millions interest only product principal and interest product .
[['in millions', 'interest onlyproduct', 'principal andinterest product'], ['2015', '$ 1597', '$ 541'], ['2016', '1366', '437'], ['2017', '2434', '596'], ['2018', '1072', '813'], ['2019 and thereafter', '3880', '5391'], ['total ( a ) ( b )', '$ 10349', '$ 7778']]
( a ) includes all home equity lines of credit that mature in 2015 or later , including those with borrowers where we have terminated borrowing privileges .( b ) includes approximately $ 154 million , $ 48 million , $ 57 million , $ 42 million and $ 564 million of home equity lines of credit with balloon payments , including those where we have terminated borrowing privileges , with draw periods scheduled to end in 2015 , 2016 , 2017 , 2018 and 2019 and thereafter , respectively .76 the pnc financial services group , inc .2013 form 10-k .
|
for total interest only home equity lines of credit , what percentage of the total includes home equity lines of credit with balloon payments , including those where we have terminated borrowing privileges , with draw periods scheduled to end in 2015?
|
1.5%
|
{
"answer": "1.5%",
"decimal": 0.015,
"type": "percentage"
}
| |
customers and products the foodservice industry consists of two major customer types 2014 2018 2018traditional 2019 2019 and 2018 2018chain restaurant . 2019 2019 traditional foodservice customers include restaurants , hospitals , schools , hotels and industrial caterers .sysco 2019s chain restaurant customers include regional and national hamburger , sandwich , pizza , chicken , steak and other chain operations .services to the company 2019s traditional foodservice and chain restaurant customers are supported by similar physical facilities , vehicles , material handling equipment and techniques , and administrative and operating staffs .products distributed by the company include a full line of frozen foods , such as meats , fully prepared entrees , fruits , vegetables and desserts ; a full line of canned and dry foods ; fresh meats ; imported specialties ; and fresh produce .the company also supplies a wide variety of non-food items , including : paper products such as disposable napkins , plates and cups ; tableware such as china and silverware ; cookware such as pots , pans and utensils ; restaurant and kitchen equipment and supplies ; and cleaning supplies .sysco 2019s operating companies distribute nationally-branded merchandise , as well as products packaged under sysco 2019s private brands .the company believes that prompt and accurate delivery of orders , close contact with customers and the ability to provide a full array of products and services to assist customers in their foodservice operations are of primary importance in the marketing and distribution of products to traditional customers .sysco 2019s operating companies offer daily delivery to certain customer locations and have the capability of delivering special orders on short notice .through the more than 13900 sales and marketing representatives and support staff of sysco and its operating companies , sysco stays informed of the needs of its customers and acquaints them with new products and services .sysco 2019s operating companies also provide ancillary services relating to foodservice distribution , such as providing customers with product usage reports and other data , menu-planning advice , food safety training and assistance in inventory control , as well as access to various third party services designed to add value to our customers 2019 businesses .no single customer accounted for 10% ( 10 % ) or more of sysco 2019s total sales for its fiscal year ended july 1 , 2006 .sysco 2019s sales to chain restaurant customers consist of a variety of food products .the company believes that consistent product quality and timely and accurate service are important factors in the selection of a chain restaurant supplier .one chain restaurant customer ( wendy 2019s international , inc. ) accounted for 5% ( 5 % ) of sysco 2019s sales for its fiscal year ended july 1 , 2006 .although this customer represents approximately 37% ( 37 % ) of the sygma segment sales , the company does not believe that the loss of this customer would have a material adverse effect on sysco as a whole .based upon available information , the company estimates that sales by type of customer during the past three fiscal years were as follows: .
[['type of customer', '2006', '2005', '2004'], ['restaurants', '63% ( 63 % )', '64% ( 64 % )', '64% ( 64 % )'], ['hospitals and nursing homes', '10', '10', '10'], ['schools and colleges', '5', '5', '5'], ['hotels and motels', '6', '6', '6'], ['other', '16', '15', '15'], ['totals', '100% ( 100 % )', '100% ( 100 % )', '100% ( 100 % )']]
restaurants **************************************************************** 63% ( 63 % ) 64% ( 64 % ) 64% ( 64 % ) hospitals and nursing homes *************************************************** 10 10 10 schools and colleges ********************************************************* 5 5 5 hotels and motels *********************************************************** 6 6 6 other********************************************************************* 16 15 15 totals ****************************************************************** 100% ( 100 % ) 100% ( 100 % ) 100% ( 100 % ) sources of supply sysco purchases from thousands of suppliers , none of which individually accounts for more than 10% ( 10 % ) of the company 2019s purchases .these suppliers consist generally of large corporations selling brand name and private label merchandise and independent regional brand and private label processors and packers .generally , purchasing is carried out through centrally developed purchasing programs and direct purchasing programs established by the company 2019s various operating companies .the company continually develops relationships with suppliers but has no material long-term purchase commitments with any supplier .in the second quarter of fiscal 2002 , sysco began a project to restructure its supply chain ( national supply chain project ) .this project is intended to increase profitability by lowering aggregate inventory levels , operating costs , and future facility expansion needs at sysco 2019s broadline operating companies while providing greater value to our suppliers and customers .%%transmsg*** transmitting job : h39408 pcn : 004000000 *** %%pcmsg|2 |00010|yes|no|09/06/2006 17:07|0|1|page is valid , no graphics -- color : n| .
|
what was the change in percentage sales to restaurants from 2004 to 2005?
|
0%
|
{
"answer": "0%",
"decimal": null,
"type": "percentage"
}
| |
notes to consolidated financial statements jpmorgan chase & co./2009 annual report 168 nonrecurring fair value changes the following table presents the total change in value of financial instruments for which a fair value adjustment has been included in the consolidated statements of income for the years ended december 31 , 2009 , 2008 and 2007 , related to financial instru- ments held at these dates .year ended december 31 .
[['( in millions )', '2009', '2008', '2007'], ['loans retained', '$ -3550 ( 3550 )', '$ -1159 ( 1159 )', '$ -218 ( 218 )'], ['loans held-for-sale', '-389 ( 389 )', '-2728 ( 2728 )', '-502 ( 502 )'], ['total loans', '-3939 ( 3939 )', '-3887 ( 3887 )', '-720 ( 720 )'], ['other assets', '-104 ( 104 )', '-685 ( 685 )', '-161 ( 161 )'], ['accounts payable andother liabilities', '31', '-285 ( 285 )', '2'], ['total nonrecurringfairvalue gains/ ( losses )', '$ -4012 ( 4012 )', '$ -4857 ( 4857 )', '$ -879 ( 879 )']]
accounts payable and other liabilities 31 ( 285 ) 2 total nonrecurring fair value gains/ ( losses ) $ ( 4012 ) $ ( 4857 ) $ ( 879 ) in the above table , loans predominantly include : ( 1 ) write-downs of delinquent mortgage and home equity loans where impairment is based on the fair value of the underlying collateral ; and ( 2 ) the change in fair value for leveraged lending loans carried on the consolidated balance sheets at the lower of cost or fair value .accounts payable and other liabilities predominantly include the change in fair value for unfunded lending-related commitments within the leveraged lending portfolio .level 3 analysis level 3 assets ( including assets measured at fair value on a nonre- curring basis ) were 6% ( 6 % ) of total firm assets at both december 31 , 2009 and 2008 .level 3 assets were $ 130.4 billion at december 31 , 2009 , reflecting a decrease of $ 7.3 billion in 2009 , due to the following : 2022 a net decrease of $ 6.3 billion in gross derivative receivables , predominantly driven by the tightening of credit spreads .offset- ting a portion of the decrease were net transfers into level 3 dur- ing the year , most notably a transfer into level 3 of $ 41.3 billion of structured credit derivative receivables , and a transfer out of level 3 of $ 17.7 billion of single-name cds on abs .the fair value of the receivables transferred into level 3 during the year was $ 22.1 billion at december 31 , 2009 .the fair value of struc- tured credit derivative payables with a similar underlying risk profile to the previously noted receivables , that are also classified in level 3 , was $ 12.5 billion at december 31 , 2009 .these de- rivatives payables offset the receivables , as they are modeled and valued the same way with the same parameters and inputs as the assets .2022 a net decrease of $ 3.5 billion in loans , predominantly driven by sales of leveraged loans and transfers of similar loans to level 2 , due to increased price transparency for such assets .leveraged loans are typically classified as held-for-sale and measured at the lower of cost or fair value and , therefore , included in the nonre- curring fair value assets .2022 a net decrease of $ 6.3 billion in trading assets 2013 debt and equity instruments , primarily in loans and residential- and commercial- mbs , principally driven by sales and markdowns , and by sales and unwinds of structured transactions with hedge funds .the declines were partially offset by a transfer from level 2 to level 3 of certain structured notes reflecting lower liquidity and less pricing ob- servability , and also increases in the fair value of other abs .2022 a net increase of $ 6.1 billion in msrs , due to increases in the fair value of the asset , related primarily to market interest rate and other changes affecting the firm's estimate of future pre- payments , as well as sales in rfs of originated loans for which servicing rights were retained .these increases were offset par- tially by servicing portfolio runoff .2022 a net increase of $ 1.9 billion in accrued interest and accounts receivable related to increases in subordinated retained interests from the firm 2019s credit card securitization activities .gains and losses gains and losses included in the tables for 2009 and 2008 included : 2022 $ 11.4 billion of net losses on derivatives , primarily related to the tightening of credit spreads .2022 net losses on trading 2013debt and equity instruments of $ 671 million , consisting of $ 2.1 billion of losses , primarily related to residential and commercial loans and mbs , principally driven by markdowns and sales , partially offset by gains of $ 1.4 billion , reflecting increases in the fair value of other abs .( for a further discussion of the gains and losses on mortgage-related expo- sures , inclusive of risk management activities , see the 201cmort- gage-related exposures carried at fair value 201d discussion below. ) 2022 $ 5.8 billion of gains on msrs .2022 $ 1.4 billion of losses related to structured note liabilities , pre- dominantly due to volatility in the equity markets .2022 losses on trading-debt and equity instruments of approximately $ 12.8 billion , principally from mortgage-related transactions and auction-rate securities .2022 losses of $ 6.9 billion on msrs .2022 losses of approximately $ 3.9 billion on leveraged loans .2022 net gains of $ 4.6 billion related to derivatives , principally due to changes in credit spreads and rate curves .2022 gains of $ 4.5 billion related to structured notes , principally due to significant volatility in the fixed income , commodities and eq- uity markets .2022 private equity losses of $ 638 million .for further information on changes in the fair value of the msrs , see note 17 on pages 223 2013224 of this annual report. .
|
what was the percent of the total loans as part the total nonrecurring fair value gains/ ( losses )
|
98.2%
|
{
"answer": "98.2%",
"decimal": 0.982,
"type": "percentage"
}
| |
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 in recent years .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 .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 )', ''], ['2016', '$ 301.2'], ['2015', '53.8'], ['2014', '56.3'], ['2013', '194.0'], ['2012', '410.0']]
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 two years?
|
355
|
{
"answer": "355",
"decimal": 355,
"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 2018 advertising costs greater than r&d expenses?
|
no
|
{
"answer": "no",
"decimal": null,
"type": "bool"
}
| |
z i m m e r h o l d i n g s , i n c .a n d s u b s i d i a r i e s 2 0 0 4 f o r m 1 0 - k notes to consolidated financial statements ( continued ) the company and implex had been operating since 2000 , the following table summarizes the estimated fair values relating to the development and distribution of reconstructive of the assets acquired and liabilities assumed at the date of implant and trauma products incorporating trabecular metal the implex acquisition : ( in millions ) technology .as ofthe merger agreement contains provisions for additional april 23 , 2004annual cash earn-out payments that are based on year-over- current assets $ 23.1year sales growth through 2006 of certain products that .
[['', 'as of april 23 2004'], ['current assets', '$ 23.1'], ['property plant and equipment', '4.5'], ['intangible assets subject to amortization:', ''], ['core technology ( 30 year useful life )', '3.6'], ['developed technology ( 30 year useful life )', '103.9'], ['other assets', '14.4'], ['goodwill', '61.0'], ['total assets acquired', '210.5'], ['current liabilities', '14.1'], ['deferred taxes', '43.3'], ['total liabilities assumed', '57.4'], ['net assets acquired', '$ 153.1']]
estimates total earn-out payments , including payments core technology ( 30 year useful life ) 3.6 already made , to be in a range from $ 120 to $ 160 million .developed technology ( 30 year useful life ) 103.9 other assets 14.4these earn-out payments represent contingent consideration goodwill 61.0and , in accordance with sfas no .141 and eitf 95-8 2018 2018accounting for contingent consideration paid to the total assets acquired 210.5 shareholders of an acquired enterprise in a purchase current liabilities 14.1 deferred taxes 43.3business combination 2019 2019 , are recorded as an additional cost of the transaction upon resolution of the contingency and total liabilities assumed 57.4 therefore increase goodwill .net assets acquired $ 153.1the implex acquisition was accounted for under the purchase method of accounting pursuant to sfas no .141 .4 .change in accounting principle accordingly , implex results of operations have been included in the company 2019s consolidated results of operations instruments are hand held devices used by orthopaedic subsequent to april 23 , 2004 , and its respective assets and surgeons during total joint replacement and other surgical liabilities have been recorded at their estimated fair values in procedures .effective january 1 , 2003 , instruments are the company 2019s consolidated statement of financial position as recognized as long-lived assets and are included in property , of april 23 , 2004 , with the excess purchase price being plant and equipment .undeployed instruments are carried at allocated to goodwill .pro forma financial information has not cost , net of allowances for obsolescence .instruments in the been included as the acquisition did not have a material field are carried at cost less accumulated depreciation .impact upon the company 2019s financial position , results of depreciation is computed using the straight-line method operations or cash flows .based on average estimated useful lives , determined the company completed the preliminary purchase price principally in reference to associated product life cycles , allocation in accordance with u.s .generally accepted primarily five years .in accordance with sfas no .144 , the accounting principles .the process included interviews with company reviews instruments for impairment whenever management , review of the economic and competitive events or changes in circumstances indicate that the carrying environment and examination of assets including historical value of an asset may not be recoverable .an impairment loss performance and future prospects .the preliminary purchase would be recognized when estimated future cash flows price allocation was based on information currently available relating to the asset are less than its carrying amount .to the company , and expectations and assumptions deemed depreciation of instruments is recognized as selling , general reasonable by the company 2019s management .no assurance can and administrative expense , consistent with the classification be given , however , that the underlying assumptions used to of instrument cost in periods prior to january 1 , 2003 .estimate expected technology based product revenues , prior to january 1 , 2003 , undeployed instruments were development costs or profitability , or the events associated carried as a prepaid expense at cost , net of allowances for with such technology , will occur as projected .the final obsolescence ( $ 54.8 million , net , at december 31 , 2002 ) , and purchase price allocation may vary from the preliminary recognized in selling , general and administrative expense in purchase price allocation .the final valuation and associated the year in which the instruments were placed into service .purchase price allocation is expected to be completed as the new method of accounting for instruments was adopted soon as possible , but no later than one year from the date of to recognize the cost of these important assets of the acquisition .to the extent that the estimates need to be company 2019s business within the consolidated balance sheet adjusted , the company will do so .and meaningfully allocate the cost of these assets over the periods benefited , typically five years .the effect of the change during the year ended december 31 , 2003 was to increase earnings before cumulative effect of change in accounting principle by $ 26.8 million ( $ 17.8 million net of tax ) , or $ 0.08 per diluted share .the cumulative effect adjustment of $ 55.1 million ( net of income taxes of $ 34.0 million ) to retroactively apply the .
|
what is the percent difference in total assets acquired and net assets acquired?
|
37.5%
|
{
"answer": "37.5%",
"decimal": 0.375,
"type": "percentage"
}
| |
34| | duke realty corporation annual report 2010 value of $ 173.9 million for which our 80% ( 80 % ) share of net proceeds totaled $ 138.3 million .we expect , and are under contract , to sell additional buildings to duke/ princeton , llc by the end of the second quarter 2011 , subject to financing and other customary closing conditions .the total 2011 sale is expected to consist of 13 office buildings , totaling over 2.0 million square feet , with an agreed upon value of $ 342.8 million , and is expected to generate proceeds of $ 274.2 million for the 80% ( 80 % ) portion that we sell .uses of liquidity our principal uses of liquidity include the following : 2022 accretive property investment ; 2022 leasing/capital costs ; 2022 dividends and distributions to shareholders and unitholders ; 2022 long-term debt maturities ; 2022 repurchases of outstanding debt and preferred stock ; and 2022 other contractual obligations .property investment we evaluate development and acquisition opportunities based upon market outlook , supply and long-term growth potential .our ability to make future property investments is dependent upon our continued access to our longer-term sources of liquidity including the issuances of debt or equity securities as well as generating cash flow by disposing of selected properties .in light of current economic conditions , management continues to evaluate our investment priorities and is focused on accretive growth .we have continued to operate at a substantially reduced level of new development activity , as compared to recent years , and are focused on the core operations of our existing base of properties .leasing/capital costs tenant improvements and leasing costs to re-let rental space that had been previously under lease to tenants are referred to as second generation expenditures .building improvements that are not specific to any tenant but serve to improve integral components of our real estate properties are also second generation expenditures .one of our principal uses of our liquidity is to fund the second generation leasing/capital expenditures of our real estate investments .the following is a summary of our second generation capital expenditures for the years ended december 31 , 2010 , 2009 and 2008 , respectively ( in thousands ) : .
[['', '2010', '2009', '2008'], ['second generation tenant improvements', '$ 36676', '$ 29321', '$ 36885'], ['second generation leasing costs', '39090', '40412', '28205'], ['building improvements', '12957', '9321', '9724'], ['totals', '$ 88723', '$ 79054', '$ 74814']]
.
|
in 2009 what was the percent of the total second generation capital expenditures associated with leasing costs
|
51.1%
|
{
"answer": "51.1%",
"decimal": 0.511,
"type": "percentage"
}
| |
notes to consolidated financial statements ( continued ) note 8 2014shareholders 2019 equity ( continued ) the following table summarizes activity in other comprehensive income related to derivatives , net of taxes , held by the company ( in millions ) : .
[['', '2006', '2005', '2004'], ['changes in fair value of derivatives', '$ 11', '$ 7', '$ -21 ( 21 )'], ['adjustment for net losses realized and included in net income', '-12 ( 12 )', '1', '33'], ['change in unrealized gain/loss on derivative instruments', '$ -1 ( 1 )', '$ 8', '$ 12']]
the tax effect related to the changes in fair value of derivatives was $ ( 8 ) million , $ ( 3 ) million , and $ 10 million for 2006 , 2005 , and 2004 , respectively .the tax effect related to derivative gains/losses reclassified from other comprehensive income to net income was $ 8 million , $ ( 2 ) million , and $ ( 13 ) million for 2006 , 2005 , and 2004 , respectively .employee benefit plans 2003 employee stock plan the 2003 employee stock plan ( the 201c2003 plan 201d ) is a shareholder approved plan that provides for broad- based grants to employees , including executive officers .based on the terms of individual option grants , options granted under the 2003 plan generally expire 7 to 10 years after the grant date and generally become exercisable over a period of 4 years , based on continued employment , with either annual or quarterly vesting .the 2003 plan permits the granting of incentive stock options , nonstatutory stock options , restricted stock units , stock appreciation rights , and stock purchase rights .1997 employee stock option plan in august 1997 , the company 2019s board of directors approved the 1997 employee stock option plan ( the 201c1997 plan 201d ) , a non-shareholder approved plan for grants of stock options to employees who are not officers of the company .based on the terms of individual option grants , options granted under the 1997 plan generally expire 7 to 10 years after the grant date and generally become exercisable over a period of 4 years , based on continued employment , with either annual or quarterly vesting .in october 2003 , the company terminated the 1997 employee stock option plan and cancelled all remaining unissued shares totaling 28590702 .no new options can be granted from the 1997 plan .employee stock option exchange program on march 20 , 2003 , the company announced a voluntary employee stock option exchange program ( the 201cexchange program 201d ) whereby eligible employees , other than executive officers and members of the board of directors , had an opportunity to exchange outstanding options with exercise prices at or above $ 12.50 per share for a predetermined smaller number of new stock options issued with exercise prices equal to the fair market value of one share of the company 2019s common stock on the day the new awards were issued , which was to be at least six months plus one day after the exchange options were cancelled .on april 17 , 2003 , in accordance with the exchange program , the company cancelled options to purchase 33138386 shares of its common stock .on october 22 , 2003 , new stock options totaling 13394736 shares were issued to employees at an exercise price of $ 11.38 per share , which is equivalent to the closing price of the company 2019s stock on that date .no financial or accounting impact to the company 2019s financial position , results of operations or cash flows was associated with this transaction. .
|
what was the total dollar amount of new stock options issues to employees on october 22 , 2003?
|
152432095.68
|
{
"answer": "152432095.68",
"decimal": 152432095.68,
"type": "float"
}
| |
during 2015 , 2014 and 2013 , netherland , sewell & associates , inc .( "nsai" ) prepared a certification of the prior year's reserves for the alba field in e.g .the nsai summary reports are filed as an exhibit to this annual report on form 10-k .members of the nsai team have multiple years of industry experience , having worked for large , international oil and gas companies before joining nsai .the senior technical advisor has over 35 years of practical experience in petroleum geosciences , with over 15 years experience in the estimation and evaluation of reserves .the second team member has over 10 years of practical experience in petroleum engineering , with over five years experience in the estimation and evaluation of reserves .both are registered professional engineers in the state of texas .ryder scott company ( "ryder scott" ) also performed audits of the prior years' reserves of several of our fields in 2015 , 2014 and 2013 .their summary reports are filed as exhibits to this annual report on form 10-k .the team lead for ryder scott has over 20 years of industry experience , having worked for a major international oil and gas company before joining ryder scott .he is a member of spe , where he served on the oil and gas reserves committee , and is a registered professional engineer in the state of texas .changes in proved undeveloped reserves as of december 31 , 2015 , 603 mmboe of proved undeveloped reserves were reported , a decrease of 125 mmboe from december 31 , 2014 .the following table shows changes in total proved undeveloped reserves for 2015 : ( mmboe ) .
[['beginning of year', '728'], ['revisions of previous estimates', '-223 ( 223 )'], ['improved recovery', '1'], ['purchases of reserves in place', '1'], ['extensions discoveries and other additions', '175'], ['dispositions', '2014'], ['transfers to proved developed', '-79 ( 79 )'], ['end of year', '603']]
the revisions to previous estimates were largely due to a result of reductions to our capital development program which deferred proved undeveloped reserves beyond the 5-year plan .a total of 139 mmboe was booked as extensions , discoveries or other additions and revisions due to the application of reliable technology .technologies included statistical analysis of production performance , decline curve analysis , pressure and rate transient analysis , reservoir simulation and volumetric analysis .the observed statistical nature of production performance coupled with highly certain reservoir continuity or quality within the reliable technology areas and sufficient proved developed locations establish the reasonable certainty criteria required for booking proved reserves .transfers from proved undeveloped to proved developed reserves included 47 mmboe in the eagle ford , 14 mmboe in the bakken and 5 mmboe in the oklahoma resource basins due to development drilling and completions .costs incurred in 2015 , 2014 and 2013 relating to the development of proved undeveloped reserves were $ 1415 million , $ 3149 million and $ 2536 million .projects can remain in proved undeveloped reserves for extended periods in certain situations such as large development projects which take more than five years to complete , or the timing of when additional gas compression is needed .of the 603 mmboe of proved undeveloped reserves at december 31 , 2015 , 26% ( 26 % ) of the volume is associated with projects that have been included in proved reserves for more than five years .the majority of this volume is related to a compression project in e.g .that was sanctioned by our board of directors in 2004 .during 2012 , the compression project received the approval of the e.g .government , fabrication of the new platform began in 2013 and installation of the platform at the alba field occurred in january 2016 .commissioning is currently underway , with first production expected by mid-2016 .proved undeveloped reserves for the north gialo development , located in the libyan sahara desert , were booked for the first time in 2010 .this development is being executed by the operator and encompasses a multi-year drilling program including the design , fabrication and installation of extensive liquid handling and gas recycling facilities .anecdotal evidence from similar development projects in the region leads to an expected project execution time frame of more than five years from the time the reserves were initially booked .interruptions associated with the civil and political unrest have also extended the project duration .operations were interrupted in mid-2013 as a result of the shutdown of the es sider crude oil terminal , and although temporarily re-opened during the second half of 2014 , production remains shut-in through early 2016 .the operator is committed to the project 2019s completion and continues to assign resources in order to execute the project .our conversion rate for proved undeveloped reserves to proved developed reserves for 2015 was 11% ( 11 % ) .however , excluding the aforementioned long-term projects in e.g .and libya , our 2015 conversion rate would be 15% ( 15 % ) .furthermore , our .
|
what was the percentage decrease in proved undeveloped reserves from 2014 to 2015?
|
17.2%
|
{
"answer": "17.2%",
"decimal": 0.172,
"type": "percentage"
}
| |
52 2013 ppg annual report and form 10-k repatriation of undistributed earnings of non-u.s .subsidiaries as of december 31 , 2013 and december 31 , 2012 would have resulted in a u.s .tax cost of approximately $ 250 million and $ 110 million , respectively .the company files federal , state and local income tax returns in numerous domestic and foreign jurisdictions .in most tax jurisdictions , returns are subject to examination by the relevant tax authorities for a number of years after the returns have been filed .the company is no longer subject to examinations by tax authorities in any major tax jurisdiction for years before 2006 .additionally , the internal revenue service has completed its examination of the company 2019s u.s .federal income tax returns filed for years through 2010 .the examination of the company 2019s u.s .federal income tax return for 2011 is currently underway and is expected to be finalized during 2014 .a reconciliation of the total amounts of unrecognized tax benefits ( excluding interest and penalties ) as of december 31 follows: .
[['( millions )', '2013', '2012', '2011'], ['balance at january 1', '$ 82', '$ 107', '$ 111'], ['additions based on tax positions related to the current year', '12', '12', '15'], ['additions for tax positions of prior years', '9', '2', '17'], ['reductions for tax positions of prior years', '-10 ( 10 )', '-12 ( 12 )', '-19 ( 19 )'], ['pre-acquisition unrecognized tax benefits', '2014', '2', '2014'], ['reductions for expiration of the applicable statute of limitations', '-10 ( 10 )', '-6 ( 6 )', '-7 ( 7 )'], ['settlements', '2014', '-23 ( 23 )', '-8 ( 8 )'], ['foreign currency translation', '2', '2014', '-2 ( 2 )'], ['balance at december 31', '$ 85', '$ 82', '$ 107']]
the company expects that any reasonably possible change in the amount of unrecognized tax benefits in the next 12 months would not be significant .the total amount of unrecognized tax benefits that , if recognized , would affect the effective tax rate was $ 81 million as of december 31 , 2013 .the company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense .as of december 31 , 2013 , 2012 and 2011 , the company had liabilities for estimated interest and penalties on unrecognized tax benefits of $ 9 million , $ 10 million and $ 15 million , respectively .the company recognized $ 2 million and $ 5 million of income in 2013 and 2012 , respectively , related to the reduction of estimated interest and penalties .the company recognized no income or expense for estimated interest and penalties during the year ended december 31 , 2011 .13 .pensions and other postretirement benefits defined benefit plans ppg has defined benefit pension plans that cover certain employees worldwide .the principal defined benefit pension plans are those in the u.s. , canada , the netherlands and the u.k .which , in the aggregate represent approximately 91% ( 91 % ) of the projected benefit obligation at december 31 , 2013 , of which the u.s .defined benefit pension plans represent the majority .ppg also sponsors welfare benefit plans that provide postretirement medical and life insurance benefits for certain u.s .and canadian employees and their dependents .these programs require retiree contributions based on retiree-selected coverage levels for certain retirees and their dependents and provide for sharing of future benefit cost increases between ppg and participants based on management discretion .the company has the right to modify or terminate certain of these benefit plans in the future .salaried and certain hourly employees in the u.s .hired on or after october 1 , 2004 , or rehired on or after october 1 , 2012 are not eligible for postretirement medical benefits .salaried employees in the u.s .hired , rehired or transferred to salaried status on or after january 1 , 2006 , and certain u.s .hourly employees hired in 2006 or thereafter are eligible to participate in a defined contribution retirement plan .these employees are not eligible for defined benefit pension plan benefits .plan design changes in january 2011 , the company approved an amendment to one of its u.s .defined benefit pension plans that represented about 77% ( 77 % ) of the total u.s .projected benefit obligation at december 31 , 2011 .depending upon the affected employee's combined age and years of service to ppg , this change resulted in certain employees no longer accruing benefits under this plan as of december 31 , 2011 , while the remaining employees will no longer accrue benefits under this plan as of december 31 , 2020 .the affected employees will participate in the company 2019s defined contribution retirement plan from the date their benefit under the defined benefit plan is frozen .the company remeasured the projected benefit obligation of this amended plan , which lowered 2011 pension expense by approximately $ 12 million .the company made similar changes to certain other u.s .defined benefit pension plans in 2011 .the company recognized a curtailment loss and special termination benefits associated with these plan amendments of $ 5 million in 2011 .the company plans to continue reviewing and potentially changing other ppg defined benefit plans in the future .separation and merger of commodity chemicals business on january 28 , 2013 , ppg completed the separation of its commodity chemicals business and the merger of the subsidiary holding the ppg commodity chemicals business with a subsidiary of georgia gulf , as discussed in note 22 , 201cseparation and merger transaction . 201d ppg transferred the defined benefit pension plan and other postretirement benefit liabilities for the affected employees in the u.s. , canada , and taiwan in the separation resulting in a net partial settlement loss of $ 33 million notes to the consolidated financial statements .
|
what is the average increase in the balance of unrecognized tax benefits from 2011 to 2013?
|
90.5%
|
{
"answer": "90.5%",
"decimal": 0.905,
"type": "percentage"
}
| |
notes to consolidated financial statements 192 jpmorgan chase & co ./ 2008 annual report consolidation analysis the multi-seller conduits administered by the firm were not consoli- dated at december 31 , 2008 and 2007 , because each conduit had issued expected loss notes ( 201celns 201d ) , the holders of which are com- mitted to absorbing the majority of the expected loss of each respective conduit .implied support the firm did not have and continues not to have any intent to pro- tect any eln holders from potential losses on any of the conduits 2019 holdings and has no plans to remove any assets from any conduit unless required to do so in its role as administrator .should such a transfer occur , the firm would allocate losses on such assets between itself and the eln holders in accordance with the terms of the applicable eln .expected loss modeling in determining the primary beneficiary of the conduits the firm uses a monte carlo 2013based model to estimate the expected losses of each of the conduits and considers the relative rights and obliga- tions of each of the variable interest holders .the firm 2019s expected loss modeling treats all variable interests , other than the elns , as its own to determine consolidation .the variability to be considered in the modeling of expected losses is based on the design of the enti- ty .the firm 2019s traditional multi-seller conduits are designed to pass credit risk , not liquidity risk , to its variable interest holders , as the assets are intended to be held in the conduit for the longer term .under fin 46 ( r ) , the firm is required to run the monte carlo-based expected loss model each time a reconsideration event occurs .in applying this guidance to the conduits , the following events , are considered to be reconsideration events , as they could affect the determination of the primary beneficiary of the conduits : 2022 new deals , including the issuance of new or additional variable interests ( credit support , liquidity facilities , etc ) ; 2022 changes in usage , including the change in the level of outstand- ing variable interests ( credit support , liquidity facilities , etc ) ; 2022 modifications of asset purchase agreements ; and 2022 sales of interests held by the primary beneficiary .from an operational perspective , the firm does not run its monte carlo-based expected loss model every time there is a reconsideration event due to the frequency of their occurrence .instead , the firm runs its expected loss model each quarter and includes a growth assump- tion for each conduit to ensure that a sufficient amount of elns exists for each conduit at any point during the quarter .as part of its normal quarterly modeling , the firm updates , when applicable , the inputs and assumptions used in the expected loss model .specifically , risk ratings and loss given default assumptions are continually updated .the total amount of expected loss notes out- standing at december 31 , 2008 and 2007 , were $ 136 million and $ 130 million , respectively .management has concluded that the model assumptions used were reflective of market participants 2019 assumptions and appropriately considered the probability of changes to risk ratings and loss given defaults .qualitative considerations the multi-seller conduits are primarily designed to provide an effi- cient means for clients to access the commercial paper market .the firm believes the conduits effectively disperse risk among all parties and that the preponderance of the economic risk in the firm 2019s multi- seller conduits is not held by jpmorgan chase .consolidated sensitivity analysis on capital the table below shows the impact on the firm 2019s reported assets , lia- bilities , tier 1 capital ratio and tier 1 leverage ratio if the firm were required to consolidate all of the multi-seller conduits that it admin- isters at their current carrying value .december 31 , 2008 ( in billions , except ratios ) reported pro forma ( a ) ( b ) .
[['( in billions except ratios )', 'reported', 'pro forma ( a ) ( b )'], ['assets', '$ 2175.1', '$ 2218.2'], ['liabilities', '2008.2', '2051.3'], ['tier 1 capital ratio', '10.9% ( 10.9 % )', '10.9% ( 10.9 % )'], ['tier 1 leverage ratio', '6.9', '6.8']]
( a ) the table shows the impact of consolidating the assets and liabilities of the multi- seller conduits at their current carrying value ; as such , there would be no income statement or capital impact at the date of consolidation .if the firm were required to consolidate the assets and liabilities of the conduits at fair value , the tier 1 capital ratio would be approximately 10.8% ( 10.8 % ) .the fair value of the assets is primarily based upon pricing for comparable transactions .the fair value of these assets could change significantly because the pricing of conduit transactions is renegotiated with the client , generally , on an annual basis and due to changes in current market conditions .( b ) consolidation is assumed to occur on the first day of the quarter , at the quarter-end levels , in order to provide a meaningful adjustment to average assets in the denomi- nator of the leverage ratio .the firm could fund purchases of assets from vies should it become necessary .2007 activity in july 2007 , a reverse repurchase agreement collateralized by prime residential mortgages held by a firm-administered multi-seller conduit was put to jpmorgan chase under its deal-specific liquidity facility .the asset was transferred to and recorded by jpmorgan chase at its par value based on the fair value of the collateral that supported the reverse repurchase agreement .during the fourth quarter of 2007 , additional information regarding the value of the collateral , including performance statistics , resulted in the determi- nation by the firm that the fair value of the collateral was impaired .impairment losses were allocated to the eln holder ( the party that absorbs the majority of the expected loss from the conduit ) in accor- dance with the contractual provisions of the eln note .on october 29 , 2007 , certain structured cdo assets originated in the second quarter of 2007 and backed by subprime mortgages were transferred to the firm from two firm-administered multi-seller conduits .it became clear in october that commercial paper investors and rating agencies were becoming increasingly concerned about cdo assets backed by subprime mortgage exposures .because of these concerns , and to ensure the continuing viability of the two conduits as financing vehicles for clients and as investment alternatives for commercial paper investors , the firm , in its role as administrator , transferred the cdo assets out of the multi-seller con- duits .the structured cdo assets were transferred to the firm at .
|
in 2008 what was the firms reported debt to the assets ratio
|
0.923
|
{
"answer": "0.923",
"decimal": 0.923,
"type": "float"
}
| |
( 1 ) the cumulative total return assumes reinvestment of dividends .( 2 ) the total return is weighted according to market capitalization of each company at the beginning of each year .( f ) purchases of equity securities by the issuer and affiliated purchasers we have not repurchased any of our common stock since the company filed its initial registration statement on march 16 , ( g ) securities authorized for issuance under equity compensation plans a description of securities authorized for issuance under our equity compensation plans will be incorporated herein by reference to the proxy statement for the 2012 annual meeting of stockholders to be filed within 120 days after the end of the company 2019s fiscal year .item 6 .selected financial data .
[['( $ in millions except per share amounts )', 'year ended december 31 2011', 'year ended december 31 2010', 'year ended december 31 2009', 'year ended december 31 2008', 'year ended december 31 2007'], ['sales and service revenues', '$ 6575', '$ 6723', '$ 6292', '$ 6189', '$ 5692'], ['goodwill impairment', '290', '0', '0', '2490', '0'], ['operating income ( loss )', '110', '248', '211', '-2354 ( 2354 )', '447'], ['net earnings ( loss )', '-94 ( 94 )', '135', '124', '-2420 ( 2420 )', '276'], ['total assets', '6001', '5203', '5036', '4760', '7658'], ['long-term debt ( 1 )', '1830', '105', '283', '283', '283'], ['total long-term obligations', '3757', '1559', '1645', '1761', '1790'], ['free cash flow ( 2 )', '331', '168', '-269 ( 269 )', '121', '364'], ['basic earnings ( loss ) per share', '$ -1.93 ( 1.93 )', '$ 2.77', '$ 2.54', '$ -49.61 ( 49.61 )', '$ 5.65'], ['diluted earnings ( loss ) per share', '$ -1.93 ( 1.93 )', '$ 2.77', '$ 2.54', '$ -49.61 ( 49.61 )', '$ 5.65']]
( 1 ) long-term debt does not include amounts payable to our former parent as of and before december 31 , 2010 , as these amounts were due upon demand and included in current liabilities .( 2 ) free cash flow is a non-gaap financial measure and represents cash from operating activities less capital expenditures .see liquidity and capital resources in item 7 for more information on this measure. .
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what was the increase in free cash flow achieved during 2011?
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97%
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{
"answer": "97%",
"decimal": 0.97,
"type": "percentage"
}
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