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affiliated company .the loss recorded on the sale was approximately $ 14 million and is recorded as a loss on sale of assets and asset impairment expenses in the accompanying consolidated statements of operations .in the second quarter of 2002 , the company recorded an impairment charge of approximately $ 40 million , after income taxes , on an equity method investment in a telecommunications company in latin america held by edc .the impairment charge resulted from sustained poor operating performance coupled with recent funding problems at the invested company .during 2001 , the company lost operational control of central electricity supply corporation ( 2018 2018cesco 2019 2019 ) , a distribution company located in the state of orissa , india .cesco is accounted for as a cost method investment .in may 2000 , the company completed the acquisition of 100% ( 100 % ) of tractebel power ltd ( 2018 2018tpl 2019 2019 ) for approximately $ 67 million and assumed liabilities of approximately $ 200 million .tpl owned 46% ( 46 % ) of nigen .the company also acquired an additional 6% ( 6 % ) interest in nigen from minority stockholders during the year ended december 31 , 2000 through the issuance of approximately 99000 common shares of aes stock valued at approximately $ 4.9 million .with the completion of these transactions , the company owns approximately 98% ( 98 % ) of nigen 2019s common stock and began consolidating its financial results beginning may 12 , 2000 .approximately $ 100 million of the purchase price was allocated to excess of costs over net assets acquired and was amortized through january 1 , 2002 at which time the company adopted sfas no .142 and ceased amortization of goodwill .in august 2000 , a subsidiary of the company acquired a 49% ( 49 % ) interest in songas limited ( 2018 2018songas 2019 2019 ) for approximately $ 40 million .the company acquired an additional 16.79% ( 16.79 % ) of songas for approximately $ 12.5 million , and the company began consolidating this entity in 2002 .songas owns the songo songo gas-to-electricity project in tanzania .in december 2002 , the company signed a sales purchase agreement to sell songas .the sale is expected to close in early 2003 .see note 4 for further discussion of the transaction .the following table presents summarized comparative financial information ( in millions ) for the company 2019s investments in 50% ( 50 % ) or less owned investments accounted for using the equity method. .
[['as of and for the years ended december 31,', '2002', '2001', '2000'], ['revenues', '$ 2832', '$ 6147', '$ 6241'], ['operating income', '695', '1717', '1989'], ['net income', '229', '650', '859'], ['current assets', '1097', '3700', '2423'], ['noncurrent assets', '6751', '14942', '13080'], ['current liabilities', '1418', '3510', '3370'], ['noncurrent liabilities', '3349', '8297', '5927'], ["stockholder's equity", '3081', '6835', '6206']]
in 2002 , 2001 and 2000 , the results of operations and the financial position of cemig were negatively impacted by the devaluation of the brazilian real and the impairment charge recorded in 2002 .the brazilian real devalued 32% ( 32 % ) , 19% ( 19 % ) and 8% ( 8 % ) for the years ended december 31 , 2002 , 2001 and 2000 , respectively .the company recorded $ 83 million , $ 210 million , and $ 64 million of pre-tax non-cash foreign currency transaction losses on its investments in brazilian equity method affiliates during 2002 , 2001 and 2000 , respectively. .
|
what is the implied value of nigen based on the 2000 acquisition?
|
81.7
|
{
"answer": "81.7",
"decimal": 81.7,
"type": "float"
}
| |
adobe systems incorporated notes to consolidated financial statements ( continued ) note 15 .commitments and contingencies lease commitments we lease certain of our facilities and some of our equipment under non-cancellable operating lease arrangements that expire at various dates through 2028 .we also have one land lease that expires in 2091 .rent expense includes base contractual rent and variable costs such as building expenses , utilities , taxes , insurance and equipment rental .rent expense and sublease income for these leases for fiscal 2014 , 2013 and 2012 were as follows ( in thousands ) : .
[['', '2014', '2013', '2012'], ['rent expense', '$ 111149', '$ 118976', '$ 105809'], ['less : sublease income', '1412', '3057', '2330'], ['net rent expense', '$ 109737', '$ 115919', '$ 103479']]
we occupy three office buildings in san jose , california where our corporate headquarters are located .we reference these office buildings as the almaden tower and the east and west towers .in august 2014 , we exercised our option to purchase the east and west towers for a total purchase price of $ 143.2 million .upon purchase , our investment in the lease receivable of $ 126.8 million was credited against the total purchase price and we were no longer required to maintain a standby letter of credit as stipulated in the east and west towers lease agreement .we capitalized the east and west towers as property and equipment on our consolidated balance sheets at $ 144.1 million , the lesser of cost or fair value , which represented the total purchase price plus other direct costs associated with the purchase .see note 6 for discussion of our east and west towers purchase .the lease agreement for the almaden tower is effective through march 2017 .we are the investors in the lease receivable related to the almaden tower lease in the amount of $ 80.4 million , which is recorded as investment in lease receivable on our consolidated balance sheets .as of november 28 , 2014 , the carrying value of the lease receivable related to the almaden tower approximated fair value .under the agreement for the almaden tower , we have the option to purchase the building at any time during the lease term for $ 103.6 million .if we purchase the building , the investment in the lease receivable may be credited against the purchase price .the residual value guarantee under the almaden tower obligation is $ 89.4 million .the almaden tower lease is subject to standard covenants including certain financial ratios that are reported to the lessor quarterly .as of november 28 , 2014 , we were in compliance with all of the covenants .in the case of a default , the lessor may demand we purchase the building for an amount equal to the lease balance , or require that we remarket or relinquish the building .if we choose to remarket or are required to do so upon relinquishing the building , we are bound to arrange the sale of the building to an unrelated party and will be required to pay the lessor any shortfall between the net remarketing proceeds and the lease balance , up to the residual value guarantee amount less our investment in lease receivable .the almaden tower lease qualifies for operating lease accounting treatment and , as such , the building and the related obligation are not included in our consolidated balance sheets .see note 16 for discussion of our capital lease obligation .unconditional purchase obligations our purchase obligations consist of agreements to purchase goods and services entered into in the ordinary course of business. .
|
for rent expense for fiscal 2014 , 2013 and 2012 , what was the largest rent expense in thousands?
|
118976
|
{
"answer": "118976",
"decimal": 118976,
"type": "float"
}
| |
ventas , inc .notes to consolidated financial statements 2014 ( continued ) if we experience certain kinds of changes of control , the issuers must make an offer to repurchase the senior notes , in whole or in part , at a purchase price in cash equal to 101% ( 101 % ) of the principal amount of the senior notes , plus any accrued and unpaid interest to the date of purchase ; provided , however , that in the event moody 2019s and s&p have confirmed their ratings at ba3 or higher and bb- or higher on the senior notes and certain other conditions are met , this repurchase obligation will not apply .mortgages at december 31 , 2006 , we had outstanding 53 mortgage loans that we assumed in connection with various acquisitions .outstanding principal balances on these loans ranged from $ 0.4 million to $ 114.4 million as of december 31 , 2006 .the loans bear interest at fixed rates ranging from 5.6% ( 5.6 % ) to 8.5% ( 8.5 % ) per annum , except with respect to eight loans with outstanding principal balances ranging from $ 0.4 million to $ 114.4 million , which bear interest at the lender 2019s variable rates , ranging from 3.6% ( 3.6 % ) to 8.5% ( 8.5 % ) per annum at of december 31 , 2006 .the fixed rate debt bears interest at a weighted average annual rate of 7.06% ( 7.06 % ) and the variable rate debt bears interest at a weighted average annual rate of 5.61% ( 5.61 % ) as of december 31 , 2006 .the loans had a weighted average maturity of eight years as of december 31 , 2006 .the $ 114.4 variable mortgage debt was repaid in january 2007 .scheduled maturities of borrowing arrangements and other provisions as of december 31 , 2006 , our indebtedness has the following maturities ( in thousands ) : .
[['2007', '$ 130206'], ['2008', '33117'], ['2009', '372725'], ['2010', '265915'], ['2011', '273761'], ['thereafter', '1261265'], ['total maturities', '2336989'], ['less unamortized commission fees and discounts', '-7936 ( 7936 )'], ['senior notes payable and other debt', '$ 2329053']]
certain provisions of our long-term debt contain covenants that limit our ability and the ability of certain of our subsidiaries to , among other things : ( i ) incur debt ; ( ii ) make certain dividends , distributions and investments ; ( iii ) enter into certain transactions ; ( iv ) merge , consolidate or transfer certain assets ; and ( v ) sell assets .we and certain of our subsidiaries are also required to maintain total unencumbered assets of at least 150% ( 150 % ) of this group 2019s unsecured debt .derivatives and hedging in the normal course of business , we are exposed to the effect of interest rate changes .we limit these risks by following established risk management policies and procedures including the use of derivatives .for interest rate exposures , derivatives are used primarily to fix the rate on debt based on floating-rate indices and to manage the cost of borrowing obligations .we currently have an interest rate swap to manage interest rate risk ( the 201cswap 201d ) .we prohibit the use of derivative instruments for trading or speculative purposes .further , we have a policy of only entering into contracts with major financial institutions based upon their credit ratings and other factors .when viewed in conjunction with the underlying and offsetting exposure that the derivative is designed to hedge , we do not anticipate any material adverse effect on our net income or financial position in the future from the use of derivatives. .
|
what was the percent of the 2008 maturities as a part of the total maturities
|
1.4%
|
{
"answer": "1.4%",
"decimal": 0.013999999999999999,
"type": "percentage"
}
|
the growth rate is the change from period to period divided by the original amount
|
entergy arkansas , inc .management's financial discussion and analysis operating activities cash flow from operations increased $ 8.8 million in 2004 compared to 2003 primarily due to income tax benefits received in 2004 , and increased recovery of deferred fuel costs .this increase was substantially offset by money pool activity .in 2003 , the domestic utility companies and system energy filed , with the irs , a change in tax accounting method notification for their respective calculations of cost of goods sold .the adjustment implemented a simplified method of allocation of overhead to the production of electricity , which is provided under the irs capitalization regulations .the cumulative adjustment placing these companies on the new methodology resulted in a $ 1.171 billion deduction for entergy arkansas on entergy's 2003 income tax return .there was no cash benefit from the method change in 2003 .in 2004 , entergy arkansas realized $ 173 million in cash tax benefit from the method change .this tax accounting method change is an issue across the utility industry and will likely be challenged by the irs on audit .as of december 31 , 2004 , entergy arkansas has a net operating loss ( nol ) carryforward for tax purposes of $ 766.9 million , principally resulting from the change in tax accounting method related to cost of goods sold .if the tax accounting method change is sustained , entergy arkansas expects to utilize the nol carryforward through 2006 .cash flow from operations increased $ 80.1 million in 2003 compared to 2002 primarily due to income taxes paid of $ 2.2 million in 2003 compared to income taxes paid of $ 83.9 million in 2002 , and money pool activity .this increase was partially offset by decreased recovery of deferred fuel costs in 2003 .entergy arkansas' receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: .
[['2004', '2003', '2002', '2001'], ['( in thousands )', '( in thousands )', '( in thousands )', '( in thousands )'], ['$ 23561', '( $ 69153 )', '$ 4279', '$ 23794']]
money pool activity used $ 92.7 million of entergy arkansas' operating cash flow in 2004 , provided $ 73.4 million in 2003 , and provided $ 19.5 million in 2002 .see note 4 to the domestic utility companies and system energy financial statements for a description of the money pool .investing activities the decrease of $ 68.1 million in net cash used in investing activities in 2004 compared to 2003 was primarily due to a decrease in construction expenditures resulting from less transmission upgrade work requested by merchant generators in 2004 combined with lower spending on customer support projects in 2004 .the increase of $ 88.1 million in net cash used in investing activities in 2003 compared to 2002 was primarily due to an increase in construction expenditures of $ 57.4 million and the maturity of $ 38.4 million of other temporary investments in the first quarter of 2002 .construction expenditures increased in 2003 primarily due to the following : 2022 a ferc ruling that shifted responsibility for transmission upgrade work performed for independent power producers to entergy arkansas ; and 2022 the ano 1 steam generator , reactor vessel head , and transformer replacement project .financing activities the decrease of $ 90.7 million in net cash used in financing activities in 2004 compared to 2003 was primarily due to the net redemption of $ 2.4 million of long-term debt in 2004 compared to $ 109.3 million in 2003 , partially offset by the payment of $ 16.2 million more in common stock dividends during the same period. .
|
what is the increase in construction expenditures as a percentage of the increase in net cash used in investing activities in 2003?
|
65.2%
|
{
"answer": "65.2%",
"decimal": 0.652,
"type": "percentage"
}
| |
the following table summarizes the changes in the company 2019s valuation allowance: .
[['balance at january 1 2011', '$ 23788'], ['increases in current period tax positions', '1525'], ['decreases in current period tax positions', '-3734 ( 3734 )'], ['balance at december 31 2011', '$ 21579'], ['increases in current period tax positions', '0'], ['decreases in current period tax positions', '-2059 ( 2059 )'], ['balance at december 31 2012', '$ 19520'], ['increases in current period tax positions', '0'], ['decreases in current period tax positions', '-5965 ( 5965 )'], ['balance at december 31 2013', '$ 13555']]
included in 2013 is a discrete tax benefit totaling $ 2979 associated with an entity re-organization within the company 2019s market-based segment that allowed for the utilization of state net operating loss carryforwards and the release of an associated valuation allowance .note 14 : employee benefits pension and other postretirement benefits the company maintains noncontributory defined benefit pension plans covering eligible employees of its regulated utility and shared services operations .benefits under the plans are based on the employee 2019s years of service and compensation .the pension plans have been closed for all employees .the pension plans were closed for most employees hired on or after january 1 , 2006 .union employees hired on or after january 1 , 2001 had their accrued benefit frozen and will be able to receive this benefit as a lump sum upon termination or retirement .union employees hired on or after january 1 , 2001 and non-union employees hired on or after january 1 , 2006 are provided with a 5.25% ( 5.25 % ) of base pay defined contribution plan .the company does not participate in a multiemployer plan .the company 2019s pension funding practice is to contribute at least the greater of the minimum amount required by the employee retirement income security act of 1974 or the normal cost .further , the company will consider additional contributions if needed to avoid 201cat risk 201d status and benefit restrictions under the pension protection act of 2006 .the company may also consider increased contributions , based on other financial requirements and the plans 2019 funded position .pension plan assets are invested in a number of actively managed and indexed investments including equity and bond mutual funds , fixed income securities , guaranteed interest contracts with insurance companies and real estate investment trusts ( 201creits 201d ) .pension expense in excess of the amount contributed to the pension plans is deferred by certain regulated subsidiaries pending future recovery in rates charged for utility services as contributions are made to the plans .( see note 6 ) the company also has unfunded noncontributory supplemental non-qualified pension plans that provide additional retirement benefits to certain employees .the company maintains other postretirement benefit plans providing varying levels of medical and life insurance to eligible retirees .the retiree welfare plans are closed for union employees hired on or after january 1 , 2006 .the plans had previously closed for non-union employees hired on or after january 1 , 2002 .the company 2019s policy is to fund other postretirement benefit costs for rate-making purposes .assets of the plans are invested in equity mutual funds , bond mutual funds and fixed income securities. .
|
what is the percentage of the discrete ax benefit as a part of the balance at december 312013
|
22%
|
{
"answer": "22%",
"decimal": 0.22,
"type": "percentage"
}
|
the percentage of a number is 2979 divide by the year end balance multiplied by 100
|
provision for income taxes increased $ 1791 million in 2012 from 2011 primarily due to the increase in pretax income from continuing operations , including the impact of the resumption of sales in libya in the first quarter of 2012 .the following is an analysis of the effective income tax rates for 2012 and 2011: .
[['', '2012', '2011'], ['statutory rate applied to income from continuing operations before income taxes', '35% ( 35 % )', '35% ( 35 % )'], ['effects of foreign operations including foreign tax credits', '18', '6'], ['change in permanent reinvestment assertion', '2014', '5'], ['adjustments to valuation allowances', '21', '14'], ['tax law changes', '2014', '1'], ['effective income tax rate on continuing operations', '74% ( 74 % )', '61% ( 61 % )']]
the effective income tax rate is influenced by a variety of factors including the geographic sources of income and the relative magnitude of these sources of income .the provision for income taxes is allocated on a discrete , stand-alone basis to pretax segment income and to individual items not allocated to segments .the difference between the total provision and the sum of the amounts allocated to segments appears in the "corporate and other unallocated items" shown in the reconciliation of segment income to net income below .effects of foreign operations 2013 the effects of foreign operations on our effective tax rate increased in 2012 as compared to 2011 , primarily due to the resumption of sales in libya in the first quarter of 2012 , where the statutory rate is in excess of 90 percent .change in permanent reinvestment assertion 2013 in the second quarter of 2011 , we recorded $ 716 million of deferred u.s .tax on undistributed earnings of $ 2046 million that we previously intended to permanently reinvest in foreign operations .offsetting this tax expense were associated foreign tax credits of $ 488 million .in addition , we reduced our valuation allowance related to foreign tax credits by $ 228 million due to recognizing deferred u.s .tax on previously undistributed earnings .adjustments to valuation allowances 2013 in 2012 and 2011 , we increased the valuation allowance against foreign tax credits because it is more likely than not that we will be unable to realize all u.s .benefits on foreign taxes accrued in those years .see item 8 .financial statements and supplementary data - note 10 to the consolidated financial statements for further information about income taxes .discontinued operations is presented net of tax , and reflects our downstream business that was spun off june 30 , 2011 and our angola business which we agreed to sell in 2013 .see item 8 .financial statements and supplementary data 2013 notes 3 and 6 to the consolidated financial statements for additional information. .
|
by how much did the effective income tax rate on continuing operations increase from 2011 to 2012?
|
13%
|
{
"answer": "13%",
"decimal": 0.13,
"type": "percentage"
}
| |
the primary product offerings sold through our wholesale channels of distribution include menswear , womenswear , childrenswear , accessories , and home furnishings .our collection brands 2014 women 2019s ralph lauren collection and black label and men 2019s purple label and black label 2014 are distributed worldwide through a limited number of premier fashion retailers .department stores are our major wholesale customers in north america .in latin america , our wholesale products are sold in department stores and specialty stores .in europe , our wholesale sales are a varying mix of sales to both department stores and specialty stores , depending on the country .we also distribute product to certain licensed stores operated by franchisees in europe and asia .in addition , our club monaco products are distributed through select department stores and specialty stores in europe .in japan , our wholesale products are distributed primarily through shop-within-shops at premier and top-tier department stores , and the mix of business is weighted to women 2019s and men's blue label .in the greater china and southeast asia region , our wholesale products are sold at mid and top-tier department stores in china , thailand , and the philippines , and the mix of business is primarily weighted to men 2019s and women 2019s blue label .we sell the majority of our excess and out-of-season products through secondary distribution channels worldwide , including our retail factory stores .worldwide distribution channels the following table presents the number of doors by geographic location in which ralph lauren-branded products distributed by our wholesale segment were sold to consumers in our primary channels of distribution as of march 30 , 2013 : location number of .
[['location', 'number ofdoors'], ['the americas', '6043'], ['europe', '4504'], ['asia', '78'], ['total', '10625']]
in addition , chaps-branded products distributed by our wholesale segment were sold domestically through approximately 1200 doors as of march 30 , we have three key wholesale customers that generate significant sales volume .for fiscal 2013 , these customers in the aggregate accounted for approximately 45% ( 45 % ) of our total wholesale revenues , with macy 2019s , inc .( "macy's" ) representing approximately 25% ( 25 % ) of our total wholesale revenues .our products are sold primarily through our own sales forces .our wholesale segment maintains its primary showrooms in new york city .in addition , we maintain regional showrooms in boston , milan , paris , london , munich , madrid , and stockholm .shop-within-shops .as a critical element of our distribution to department stores , we and our licensing partners utilize shop-within-shops to enhance brand recognition , to permit more complete merchandising of our lines by the department stores , and to differentiate the presentation of our products .shop- within-shop fixed assets primarily include items such as customized freestanding fixtures , wall cases and components , decorative items , and flooring .as of march 30 , 2013 , we had approximately 20000 shop-within-shops dedicated to our ralph lauren-branded wholesale products worldwide .the size of our shop-within-shops ranges from approximately 100 to 7400 square feet .we normally share in the cost of building-out these shop-within-shops with our wholesale customers .basic stock replenishment program .basic products such as knit shirts , chino pants , oxford cloth shirts , selected accessories , and home products can be ordered by our wholesale customers at any time through our basic stock replenishment programs .we generally ship these products within two-to-five days of order receipt .our retail segment as of march 30 , 2013 , our retail segment consisted of 388 directly-operated freestanding stores worldwide , totaling approximately 3 million square feet , 494 concession-based shop-within-shops , and seven e-commerce websites .the extension of our direct-to-consumer reach is one of our primary long-term strategic goals. .
|
what percentage of doors in the wholesale segment as of march 30 , 2013 where in the europe geography?
|
43%
|
{
"answer": "43%",
"decimal": 0.43,
"type": "percentage"
}
| |
blackrock information related to our equity investment in blackrock follows: .
[['', '2009', '2008'], ['business segment earnings ( in millions ) ( a )', '$ 207', '$ 207'], ['pnc 2019s share of blackrock earnings ( b )', '23% ( 23 % )', '33% ( 33 % )'], ['carrying value of pnc 2019s investment in blackrock ( in billions ) ( b )', '$ 5.8', '$ 4.2']]
carrying value of pnc 2019s investment in blackrock ( in billions ) ( b ) $ 5.8 $ 4.2 ( a ) includes pnc 2019s share of blackrock 2019s reported gaap earnings and additional income taxes on those earnings incurred by pnc .( b ) at december 31 .blackrock/barclays global investors transaction on december 1 , 2009 , blackrock acquired bgi from barclays bank plc in exchange for approximately $ 6.65 billion in cash and 37566771 shares of blackrock common and participating preferred stock .in connection with the bgi transaction , blackrock entered into amendments to stockholder agreements with pnc and its other major shareholder .these amendments , which changed certain shareholder rights , including composition of the blackrock board of directors and share transfer restrictions , became effective upon closing of the bgi transaction .also in connection with the bgi transaction , blackrock entered into a stock purchase agreement with pnc in which we purchased 3556188 shares of blackrock 2019s series d preferred stock at a price of $ 140.60 per share , or $ 500 million , to partially finance the transaction .on january 31 , 2010 , the series d preferred stock was converted to series b preferred stock .upon closing of the bgi transaction , the carrying value of our investment in blackrock increased significantly , reflecting our portion of the increase in blackrock 2019s equity resulting from the value of blackrock shares issued in connection with their acquisition of bgi .pnc recognized this increase in value as a $ 1.076 billion pretax gain in the fourth quarter of 2009 .at december 31 , 2009 , our percentage ownership of blackrock common stock was approximately 35% ( 35 % ) .blackrock ltip programs and exchange agreements pnc 2019s noninterest income included pretax gains of $ 98 million in 2009 and $ 243 million in 2008 related to our blackrock ltip shares obligation .these gains represented the mark-to-market adjustment related to our remaining blackrock ltip common shares obligation and resulted from the decrease in the market value of blackrock common shares in those periods .as previously reported , pnc entered into an exchange agreement with blackrock on december 26 , 2008 .the transactions that resulted from this agreement restructured pnc 2019s ownership of blackrock equity without altering , to any meaningful extent , pnc 2019s economic interest in blackrock .pnc continues to be subject to the limitations on its voting rights in its existing agreements with blackrock .also on december 26 , 2008 , blackrock entered into an exchange agreement with merrill lynch in anticipation of the consummation of the merger of bank of america corporation and merrill lynch that occurred on january 1 , 2009 .the pnc and merrill lynch exchange agreements restructured pnc 2019s and merrill lynch 2019s respective ownership of blackrock common and preferred equity .the exchange contemplated by these agreements was completed on february 27 , 2009 .on that date , pnc 2019s obligation to deliver blackrock common shares was replaced with an obligation to deliver shares of blackrock 2019s new series c preferred stock .pnc acquired 2.9 million shares of series c preferred stock from blackrock in exchange for common shares on that same date .pnc accounts for these preferred shares at fair value , which offsets the impact of marking-to-market the obligation to deliver these shares to blackrock as we aligned the fair value marks on this asset and liability .the fair value of the blackrock series c preferred stock is included on our consolidated balance sheet in other assets .additional information regarding the valuation of the blackrock series c preferred stock is included in note 8 fair value in the notes to consolidated financial statements included in item 8 of this report .pnc accounts for its remaining investment in blackrock under the equity method of accounting , with its share of blackrock 2019s earnings reduced primarily due to the exchange of blackrock common stock for blackrock series c preferred stock .the series c preferred stock is not taken into consideration in determining pnc 2019s share of blackrock earnings under the equity method .pnc 2019s percentage ownership of blackrock common stock increased as a result of the substantial exchange of merrill lynch 2019s blackrock common stock for blackrock preferred stock .as a result of the blackrock preferred stock held by merrill lynch and the new blackrock preferred stock issued to merrill lynch and pnc under the exchange agreements , pnc 2019s share of blackrock common stock is higher than its overall share of blackrock 2019s equity and earnings .the transactions related to the exchange agreements do not affect our right to receive dividends declared by blackrock. .
|
the recognized increase in value as a pretax gain in the fourth quarter of 2009 equaled what percent of the total carrying value of pnc 2019s investment in blackrock?
|
21.5%
|
{
"answer": "21.5%",
"decimal": 0.215,
"type": "percentage"
}
| |
devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) debt maturities as of december 31 , 2015 , excluding premiums and discounts , are as follows ( millions ) : .
[['2016', '$ 976'], ['2017', '2014'], ['2018', '875'], ['2019', '1100'], ['2020', '414'], ['thereafter', '9763'], ['total', '$ 13128']]
credit lines devon has a $ 3.0 billion senior credit facility .the maturity date for $ 30 million of the senior credit facility is october 24 , 2017 .the maturity date for $ 164 million of the senior credit facility is october 24 , 2018 .the maturity date for the remaining $ 2.8 billion is october 24 , 2019 .amounts borrowed under the senior credit facility may , at the election of devon , bear interest at various fixed rate options for periods of up to twelve months .such rates are generally less than the prime rate .however , devon may elect to borrow at the prime rate .the senior credit facility currently provides for an annual facility fee of $ 3.8 million that is payable quarterly in arrears .as of december 31 , 2015 , there were no borrowings under the senior credit facility .the senior credit facility contains only one material financial covenant .this covenant requires devon 2019s ratio of total funded debt to total capitalization , as defined in the credit agreement , to be no greater than 65% ( 65 % ) .the credit agreement contains definitions of total funded debt and total capitalization that include adjustments to the respective amounts reported in the accompanying consolidated financial statements .also , total capitalization is adjusted to add back noncash financial write-downs such as full cost ceiling impairments or goodwill impairments .as of december 31 , 2015 , devon was in compliance with this covenant with a debt-to- capitalization ratio of 23.7% ( 23.7 % ) .commercial paper devon 2019s senior credit facility supports its $ 3.0 billion of short-term credit under its commercial paper program .commercial paper debt generally has a maturity of between 1 and 90 days , although it can have a maturity of up to 365 days , and bears interest at rates agreed to at the time of the borrowing .the interest rate is generally based on a standard index such as the federal funds rate , libor or the money market rate as found in the commercial paper market .as of december 31 , 2015 , devon 2019s outstanding commercial paper borrowings had a weighted-average borrowing rate of 0.63% ( 0.63 % ) .issuance of senior notes in june 2015 , devon issued $ 750 million of 5.0% ( 5.0 % ) senior notes due 2045 that are unsecured and unsubordinated obligations .devon used the net proceeds to repay the floating rate senior notes that matured on december 15 , 2015 , as well as outstanding commercial paper balances .in december 2015 , in conjunction with the announcement of the powder river basin and stack acquisitions , devon issued $ 850 million of 5.85% ( 5.85 % ) senior notes due 2025 that are unsecured and unsubordinated obligations .devon used the net proceeds to fund the cash portion of these acquisitions. .
|
in 2015 what was the ratio of the notes issued maturing in 2025 to 2045
|
1.13
|
{
"answer": "1.13",
"decimal": 1.13,
"type": "float"
}
|
in 2015 there was $ 1.13 of notes maturing in 2025 for each $ 1 maturing in 2045
|
part ii item 5 .market for registrant 2019s common equity and related stockholder matters market information our common stock has been traded on the new york stock exchange ( 2018 2018nyse 2019 2019 ) under the symbol 2018 2018exr 2019 2019 since our ipo on august 17 , 2004 .prior to that time there was no public market for our common stock .the following table sets forth , for the periods indicated , the high and low bid price for our common stock as reported by the nyse and the per share dividends declared : dividends high low declared .
[['', 'high', 'low', 'dividends declared'], ['period from august 17 2004 to september 30 2004', '$ 14.38', '$ 12.50', '$ 0.1113'], ['quarter ended december 31 2004', '14.55', '12.60', '0.2275'], ['quarter ended march 31 2005', '14.30', '12.55', '0.2275'], ['quarter ended june 30 2005', '14.75', '12.19', '0.2275'], ['quarter ended september 30 2005', '16.71', '14.32', '0.2275'], ['quarter ended december 31 2005', '15.90', '13.00', '0.2275']]
on february 28 , 2006 , the closing price of our common stock as reported by the nyse was $ 15.00 .at february 28 , 2006 , we had 166 holders of record of our common stock .holders of shares of common stock are entitled to receive distributions when declared by our board of directors out of any assets legally available for that purpose .as a reit , we are required to distribute at least 90% ( 90 % ) of our 2018 2018reit taxable income 2019 2019 is generally equivalent to our net taxable ordinary income , determined without regard to the deduction for dividends paid , to our stockholders annually in order to maintain our reit qualifications for u.s .federal income tax purposes .unregistered sales of equity securities and use of proceeds on june 20 , 2005 , we completed the sale of 6200000 shares of our common stock , $ .01 par value , for $ 83514 , which we reported in a current report on form 8-k filed with the securities and exchange commission on june 24 , 2005 .we used the proceeds for general corporate purposes , including debt repayment .the shares were issued pursuant to an exemption from registration under the securities act of 1933 , as amended. .
|
using the high bid price what was the percentage difference between the quarter ended december 31 , 2004 and the quarter ended march 312005?
|
-2%
|
{
"answer": "-2%",
"decimal": -0.02,
"type": "percentage"
}
| |
arconic and subsidiaries notes to the consolidated financial statements ( dollars in millions , except per-share amounts ) a .summary of significant accounting policies basis of presentation .the consolidated financial statements of arconic inc .and subsidiaries ( 201carconic 201d or the 201ccompany 201d ) are prepared in conformity with accounting principles generally accepted in the united states of america ( gaap ) and require management to make certain judgments , estimates , and assumptions .these may affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements .they also may affect the reported amounts of revenues and expenses during the reporting period .actual results could differ from those estimates upon subsequent resolution of identified matters .certain amounts in previously issued financial statements were reclassified to conform to the current period presentation ( see below and note c ) on january 1 , 2018 , arconic adopted new guidance issued by the financial accounting standards board ( fasb ) related to the following : presentation of net periodic pension cost and net periodic postretirement benefit cost that required a reclassification of costs within the statement of consolidated operations ; presentation of certain cash receipts and cash payments within the statement of consolidated cash flows that required a reclassification of amounts between operating and either financing or investing activities ; the classification of restricted cash within the statement of consolidated cash flows ; and the reclassification from accumulated other comprehensive loss to accumulated deficit in the consolidated balance sheet of stranded tax effects resulting from the tax cuts and jobs act enacted on december 22 , 2017 .see recently adopted accounting guidance below for further details .also on january 1 , 2018 , the company changed its primary measure of segment performance from adjusted earnings before interest , tax , depreciation and amortization ( 201cadjusted ebitda 201d ) to segment operating profit , which more closely aligns segment performance with operating income as presented in the statement of consolidated operations .see note c for further details .the separation of alcoa inc .into two standalone , publicly-traded companies , arconic inc .( the new name for alcoa inc. ) and alcoa corporation , became effective on november 1 , 2016 ( the 201cseparation transaction 201d ) .the financial results of alcoa corporation for 2016 have been retrospectively reflected in the statement of consolidated operations as discontinued operations and , as such , have been excluded from continuing operations and segment results for 2016 .the cash flows and comprehensive income related to alcoa corporation have not been segregated and are included in the statement of consolidated cash flows and statement of consolidated comprehensive income ( loss ) , respectively , for 2016 .see note v for additional information related to the separation transaction and discontinued operations .principles of consolidation .the consolidated financial statements include the accounts of arconic and companies in which arconic has a controlling interest .intercompany transactions have been eliminated .investments in affiliates in which arconic cannot exercise significant influence are accounted for on the cost method .management also evaluates whether an arconic entity or interest is a variable interest entity and whether arconic is the primary beneficiary .consolidation is required if both of these criteria are met .arconic does not have any variable interest entities requiring consolidation .cash equivalents .cash equivalents are highly liquid investments purchased with an original maturity of three months or less .inventory valuation .inventories are carried at the lower of cost and net realizable value , with cost for approximately half of u.s .inventories determined under the last-in , first-out ( lifo ) method .the cost of other inventories is determined under a combination of the first-in , first-out ( fifo ) and average-cost methods .properties , plants , and equipment .properties , plants , and equipment are recorded at cost .depreciation is recorded principally on the straight-line method at rates based on the estimated useful lives of the assets .the following table details the weighted-average useful lives of structures and machinery and equipment by reporting segment ( numbers in years ) : .
[['', 'structures', 'machinery and equipment'], ['engineered products and solutions', '29', '17'], ['global rolled products', '31', '21'], ['transportation and construction solutions', '27', '18']]
gains or losses from the sale of asset groups are generally recorded in restructuring and other charges while the sale of individual assets are recorded in other expense ( income ) , net ( see policy below for assets classified as held for sale and discontinued operations ) .repairs and maintenance are charged to expense as incurred .interest related to the construction of qualifying assets is capitalized as part of the construction costs. .
|
what is the difference between the weighted average useful lives of structures and machinery/equipment in the engineered products and solutions segment , in years?
|
12
|
{
"answer": "12",
"decimal": 12,
"type": "float"
}
|
it is the difference between the number of years .
|
holding other assumptions constant , the following table reflects what a one hundred basis point increase and decrease in our estimated long-term rate of return on plan assets would have on our estimated 2010 pension expense ( in millions ) : change in long-term rate of return on plan assets .
[['increase ( decrease ) in expense', 'change in long-term rateof return on plan assets increase', 'change in long-term rateof return on plan assets decrease'], ['u.s . plans', '$ -13 ( 13 )', '$ 13'], ['u.k . plans', '-32 ( 32 )', '32'], ['the netherlands plan', '-5 ( 5 )', '5'], ['canada plans', '-2 ( 2 )', '2']]
estimated future contributions we estimate contributions of approximately $ 381 million in 2010 as compared with $ 437 million in goodwill and other intangible assets goodwill represents the excess of cost over the fair market value of the net assets acquired .we classify our intangible assets acquired as either trademarks , client lists , non-compete agreements , or other purchased intangibles .our goodwill and other intangible balances at december 31 , 2009 were $ 6.1 billion and $ 791 million , respectively , compared to $ 5.6 billion and $ 779 million , respectively , at december 31 , 2008 .although goodwill is not amortized , we test it for impairment at least annually in the fourth quarter .beginning in 2009 , we also test trademarks ( which also are not amortized ) that were acquired in conjunction with the benfield merger for impairment .we test more frequently if there are indicators of impairment or whenever business circumstances suggest that the carrying value of goodwill or trademarks may not be recoverable .these indicators may include a sustained significant decline in our share price and market capitalization , a decline in our expected future cash flows , or a significant adverse change in legal factors or in the business climate , among others .no events occurred during 2009 or 2008 that indicate the existence of an impairment with respect to our reported goodwill or trademarks .we perform impairment reviews at the reporting unit level .a reporting unit is an operating segment or one level below an operating segment ( referred to as a 2018 2018component 2019 2019 ) .a component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component .an operating segment shall be deemed to be a reporting unit if all of its components are similar , if none of its components is a reporting unit , or if the segment comprises only a single component .the goodwill impairment test is a two step analysis .step one requires the fair value of each reporting unit to be compared to its book value .management must apply judgment in determining the estimated fair value of the reporting units .if the fair value of a reporting unit is determined to be greater than the carrying value of the reporting unit , goodwill and trademarks are deemed not to be impaired and no further testing is necessary .if the fair value of a reporting unit is less than the carrying value , we perform step two .step two uses the calculated fair value of the reporting unit to perform a hypothetical purchase price allocation to the fair value of the assets and liabilities of the reporting unit .the difference between the fair value of the reporting unit calculated in step one and the fair value of the underlying assets and liabilities of the reporting unit is the implied fair value of .
|
what is the increase in the value of goodwill balances during 2008 and 2009?
|
8.92%
|
{
"answer": "8.92%",
"decimal": 0.0892,
"type": "percentage"
}
|
it is the 2009's goodwill divided by the 2008's , then turned into a percentage to represent the increase .
|
equity compensation plan information the following table presents the equity securities available for issuance under our equity compensation plans as of december 31 , 2018 .equity compensation plan information plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( a ) ( b ) ( c ) equity compensation plans approved by security holders 399165 $ 0.00 3995600 equity compensation plans not approved by security holders ( 2 ) 2014 2014 2014 .
[['plan category', 'number of securities to be issued upon exercise of outstanding options warrants and rights ( 1 ) ( a ) ( b )', 'weighted-average exercise price of outstanding optionswarrants and rights', 'number of securities remaining available for future issuance under equity compensation plans ( excluding securitiesreflected in column ( a ) ) ( c )'], ['equity compensation plans approved by security holders', '399165', '$ 0.00', '3995600'], ['equity compensation plans not approved by security holders ( 2 )', '2014', '2014', '2014'], ['total', '399165', '$ 0.00', '3995600']]
( 1 ) includes grants made under the huntington ingalls industries , inc .2012 long-term incentive stock plan ( the "2012 plan" ) , which was approved by our stockholders on may 2 , 2012 , and the huntington ingalls industries , inc .2011 long-term incentive stock plan ( the "2011 plan" ) , which was approved by the sole stockholder of hii prior to its spin-off from northrop grumman corporation .of these shares , 27123 were stock rights granted under the 2011 plan .in addition , this number includes 31697 stock rights , 5051 restricted stock rights , and 335293 restricted performance stock rights granted under the 2012 plan , assuming target performance achievement .( 2 ) there are no awards made under plans not approved by security holders .item 13 .certain relationships and related transactions , and director independence information as to certain relationships and related transactions and director independence will be incorporated herein by reference to the proxy statement for our 2019 annual meeting of stockholders , to be filed within 120 days after the end of the company 2019s fiscal year .item 14 .principal accountant fees and services information as to principal accountant fees and services will be incorporated herein by reference to the proxy statement for our 2019 annual meeting of stockholders , to be filed within 120 days after the end of the company 2019s fiscal year. .
|
what portion of the equity compensation plan approved by security holders remains available for future issuance?
|
90.9%
|
{
"answer": "90.9%",
"decimal": 0.909,
"type": "percentage"
}
| |
energy ; disruptions or ineffi ciencies in the supply chain ; eff ectiveness of restructuring and cost savings initia- tives ; volatility in the market value of derivatives used to manage price risk for certain commodities ; benefi t plan expenses due to changes in plan asset values and discount rates used to determine plan liabilities ; failure or breach of our information technology systems ; for- eign economic conditions , including currency rate fl uc- tuations ; and political unrest in foreign markets and economic uncertainty due to terrorism or war .you should also consider the risk factors that we identify in item 1a of our 2015 form 10-k , which could also aff ect our future results .we undertake no obligation to publicly revise any forward-looking statements to refl ect events or circum- stances aft er the date of those statements or to refl ect the occurrence of anticipated or unanticipated events .quantitative and qualitative disclosures about market risk we are exposed to market risk stemming from changes in interest and foreign exchange rates and commod- ity and equity prices .changes in these factors could cause fl uctuations in our earnings and cash fl ows .in the normal course of business , we actively manage our exposure to these market risks by entering into vari- ous hedging transactions , authorized under established policies that place clear controls on these activities .th e counterparties in these transactions are generally highly rated institutions .we establish credit limits for each counterparty .our hedging transactions include but are not limited to a variety of derivative fi nancial instruments .for information on interest rate , foreign exchange , commodity price , and equity instrument risk , please see note 7 to the consolidated financial statements on page 52 of this report .value at risk th e estimates in the table below are intended to mea- sure the maximum potential fair value we could lose in one day from adverse changes in market interest rates , foreign exchange rates , commodity prices , and equity prices under normal market conditions .a monte carlo value-at-risk ( var ) methodology was used to quantify the market risk for our exposures .th e models assumed normal market conditions and used a 95 percent confi - dence level .th e var calculation used historical interest and for- eign exchange rates , and commodity and equity prices from the past year to estimate the potential volatility and correlation of these rates in the future .th e market data were drawn from the riskmetrics 2122 data set .th e calculations are not intended to represent actual losses in fair value that we expect to incur .further , since the hedging instrument ( the derivative ) inversely correlates with the underlying exposure , we would expect that any loss or gain in the fair value of our derivatives would be generally off set by an increase or decrease in the fair value of the underlying exposure .th e positions included in the calculations were : debt ; investments ; interest rate swaps ; foreign exchange forwards ; com- modity swaps , futures and options ; and equity instru- ments .th e calculations do not include the underlying foreign exchange and commodities or equity-related positions that are off set by these market-risk-sensitive instruments .th e table below presents the estimated maximum potential var arising from a one-day loss in fair value for our interest rate , foreign currency , commodity , and equity market-risk-sensitive instruments outstanding as of may 31 , 2015 , and may 25 , 2014 , and the average fair value impact during the year ended may 31 , 2015. .
[['in millions', 'fair value impact may 31 2015', 'fair value impact averageduringfiscal 2015', 'fair value impact may 25 2014'], ['interest rate instruments', '$ 25.1', '$ 23.7', '$ 32.7'], ['foreign currency instruments', '17.9', '8.8', '7.2'], ['commodity instruments', '3.7', '3.7', '3.0'], ['equity instruments', '1.2', '1.2', '1.1']]
36 general mills .
|
what is the net change in the balance of foreign currency instruments from 2014 to 2015?
|
10.7
|
{
"answer": "10.7",
"decimal": 10.7,
"type": "float"
}
| |
jpmorgan chase & co./2014 annual report 125 lending-related commitments the firm uses lending-related financial instruments , such as commitments ( including revolving credit facilities ) and guarantees , to meet the financing needs of its customers .the contractual amounts of these financial instruments represent the maximum possible credit risk should the counterparties draw down on these commitments or the firm fulfills its obligations under these guarantees , and the counterparties subsequently fail to perform according to the terms of these contracts .in the firm 2019s view , the total contractual amount of these wholesale lending-related commitments is not representative of the firm 2019s actual future credit exposure or funding requirements .in determining the amount of credit risk exposure the firm has to wholesale lending-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 contingent exposure that is expected , based on average portfolio historical experience , to become drawn upon in an event of a default by an obligor .the loan-equivalent amount of the firm 2019s lending- related commitments was $ 229.6 billion and $ 218.9 billion as of december 31 , 2014 and 2013 , respectively .clearing services the firm provides clearing services for clients entering into securities and derivative transactions .through the provision of these services the firm is exposed to the risk of non-performance by its clients and may be required to share in losses incurred by central counterparties ( 201cccps 201d ) .where possible , the firm seeks to mitigate its credit risk to its clients through the collection of adequate margin at inception and throughout the life of the transactions and can also cease provision of clearing services if clients do not adhere to their obligations under the clearing agreement .for further discussion of clearing services , see note 29 .derivative contracts in the normal course of business , the firm uses derivative instruments predominantly for market-making activities .derivatives enable customers to manage exposures to fluctuations in interest rates , currencies and other markets .the firm also uses derivative instruments to manage its own credit exposure .the nature of the counterparty and the settlement mechanism of the derivative affect the credit risk to which the firm is exposed .for otc derivatives the firm is exposed to the credit risk of the derivative counterparty .for exchange-traded derivatives ( 201cetd 201d ) such as futures and options , and 201ccleared 201d over-the-counter ( 201cotc-cleared 201d ) derivatives , the firm is generally exposed to the credit risk of the relevant ccp .where possible , the firm seeks to mitigate its credit risk exposures arising from derivative transactions through the use of legally enforceable master netting arrangements and collateral agreements .for further discussion of derivative contracts , counterparties and settlement types , see note 6 .the following table summarizes the net derivative receivables for the periods presented .derivative receivables .
[['december 31 ( in millions )', '2014', '2013'], ['interest rate', '$ 33725', '$ 25782'], ['credit derivatives', '1838', '1516'], ['foreign exchange', '21253', '16790'], ['equity', '8177', '12227'], ['commodity', '13982', '9444'], ['total net of cash collateral', '78975', '65759'], ['liquid securities and other cash collateral held against derivative receivables', '-19604 ( 19604 )', '-14435 ( 14435 )'], ['total net of all collateral', '$ 59371', '$ 51324']]
derivative receivables reported on the consolidated balance sheets were $ 79.0 billion and $ 65.8 billion at december 31 , 2014 and 2013 , respectively .these amounts represent the fair value of the derivative contracts , after giving effect to legally enforceable master netting agreements and cash collateral held by the firm .however , in management 2019s view , the appropriate measure of current credit risk should also take into consideration additional liquid securities ( primarily u.s .government and agency securities and other g7 government bonds ) and other cash collateral held by the firm aggregating $ 19.6 billion and $ 14.4 billion at december 31 , 2014 and 2013 , respectively , that may be used as security when the fair value of the client 2019s exposure is in the firm 2019s favor .in addition to the collateral described in the preceding paragraph , the firm also holds additional collateral ( primarily : cash ; g7 government securities ; other liquid government-agency and guaranteed securities ; and corporate debt and equity securities ) delivered by clients at the initiation of transactions , as well as collateral related to contracts that have a non-daily call frequency and collateral that the firm has agreed to return but has not yet settled as of the reporting date .although this collateral does not reduce the balances and is not included in the table above , it is available as security against potential exposure that could arise should the fair value of the client 2019s derivative transactions move in the firm 2019s favor .as of december 31 , 2014 and 2013 , the firm held $ 48.6 billion and $ 50.8 billion , respectively , of this additional collateral .the prior period amount has been revised to conform with the current period presentation .the derivative receivables fair value , net of all collateral , also does not include other credit enhancements , such as letters of credit .for additional information on the firm 2019s use of collateral agreements , see note 6. .
|
what percent of net derivative receivables were collateralized by other than cash in 2013?\\n
|
22.0%
|
{
"answer": "22.0%",
"decimal": 0.22,
"type": "percentage"
}
| |
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"
}
| |
uncertain tax positions the following is a reconciliation of the company's beginning and ending amount of uncertain tax positions ( in millions ) : .
[['', '2015', '2014'], ['balance at january 1', '$ 191', '$ 164'], ['additions based on tax positions related to the current year', '31', '31'], ['additions for tax positions of prior years', '53', '10'], ['reductions for tax positions of prior years', '-18 ( 18 )', '-6 ( 6 )'], ['settlements', '-32 ( 32 )', '2014'], ['business combinations', '2014', '5'], ['lapse of statute of limitations', '-5 ( 5 )', '-11 ( 11 )'], ['foreign currency translation', '-2 ( 2 )', '-2 ( 2 )'], ['balance at december 31', '$ 218', '$ 191']]
the company's liability for uncertain tax positions as of december 31 , 2015 , 2014 , and 2013 , includes $ 180 million , $ 154 million , and $ 141 million , respectively , related to amounts that would impact the effective tax rate if recognized .it is possible that the amount of unrecognized tax benefits may change in the next twelve months ; however , we do not expect the change to have a significant impact on our consolidated statements of income or consolidated balance sheets .these changes may be the result of settlements of ongoing audits .at this time , an estimate of the range of the reasonably possible outcomes within the twelve months cannot be made .the company recognizes interest and penalties related to uncertain tax positions in its provision for income taxes .the company accrued potential interest and penalties of $ 2 million , $ 4 million , and $ 2 million in 2015 , 2014 , and 2013 , respectively .the company recorded a liability for interest and penalties of $ 33 million , $ 31 million , and $ 27 million as of december 31 , 2015 , 2014 , and 2013 , respectively .the company and its subsidiaries file income tax returns in their respective jurisdictions .the company has substantially concluded all u.s .federal income tax matters for years through 2007 .material u.s .state and local income tax jurisdiction examinations have been concluded for years through 2005 .the company has concluded income tax examinations in its primary non-u.s .jurisdictions through 2005 .9 .shareholders' equity distributable reserves as a u.k .incorporated company , the company is required under u.k .law to have available "distributable reserves" to make share repurchases or pay dividends to shareholders .distributable reserves may be created through the earnings of the u.k .parent company and , amongst other methods , through a reduction in share capital approved by the english companies court .distributable reserves are not linked to a u.s .gaap reported amount ( e.g. , retained earnings ) .as of december 31 , 2015 and 2014 , the company had distributable reserves in excess of $ 2.1 billion and $ 4.0 billion , respectively .ordinary shares in april 2012 , the company's board of directors authorized a share repurchase program under which up to $ 5.0 billion of class a ordinary shares may be repurchased ( "2012 share repurchase program" ) .in november 2014 , the company's board of directors authorized a new $ 5.0 billion share repurchase program in addition to the existing program ( "2014 share repurchase program" and , together , the "repurchase programs" ) .under each program , shares may be repurchased through the open market or in privately negotiated transactions , based on prevailing market conditions , funded from available capital .during 2015 , the company repurchased 16.0 million shares at an average price per share of $ 97.04 for a total cost of $ 1.6 billion under the repurchase programs .during 2014 , the company repurchased 25.8 million shares at an average price per share of $ 87.18 for a total cost of $ 2.3 billion under the 2012 share repurchase plan .in august 2015 , the $ 5 billion of class a ordinary shares authorized under the 2012 share repurchase program was exhausted .at december 31 , 2015 , the remaining authorized amount for share repurchase under the 2014 share repurchase program is $ 4.1 billion .under the repurchase programs , the company repurchased a total of 78.1 million shares for an aggregate cost of $ 5.9 billion. .
|
what is the net amount of uncertain tax positions for 2015 , ( in millions )
|
27
|
{
"answer": "27",
"decimal": 27,
"type": "float"
}
| |
an institution rated single-a by the credit rating agencies .given the illiquid nature of many of these types of investments , it can be a challenge to determine their fair values .see note 7 fair value in the notes to consolidated financial statements in item 8 of this report for additional information .various pnc business units manage our equity and other investment activities .our businesses are responsible for making investment decisions within the approved policy limits and associated guidelines .a summary of our equity investments follows : table 48 : equity investments summary in millions december 31 december 31 .
[['in millions', 'december 312015', 'december 312014'], ['blackrock', '$ 6626', '$ 6265'], ['tax credit investments', '2254', '2616'], ['private equity', '1441', '1615'], ['visa', '31', '77'], ['other', '235', '155'], ['total', '$ 10587', '$ 10728']]
blackrock pnc owned approximately 35 million common stock equivalent shares of blackrock equity at december 31 , 2015 , accounted for under the equity method .the primary risk measurement , similar to other equity investments , is economic capital .the business segments review section of this item 7 includes additional information about blackrock .tax credit investments included in our equity investments are direct tax credit investments and equity investments held by consolidated partnerships which totaled $ 2.3 billion at december 31 , 2015 and $ 2.6 billion at december 31 , 2014 .these equity investment balances include unfunded commitments totaling $ 669 million and $ 717 million at december 31 , 2015 and december 31 , 2014 , respectively .these unfunded commitments are included in other liabilities on our consolidated balance sheet .note 2 loan sale and servicing activities and variable interest entities in the notes to consolidated financial statements in item 8 of this report has further information on tax credit investments .private equity the private equity portfolio is an illiquid portfolio comprised of mezzanine and equity investments that vary by industry , stage and type of investment .private equity investments carried at estimated fair value totaled $ 1.4 billion at december 31 , 2015 and $ 1.6 billion at december 31 , 2014 .as of december 31 , 2015 , $ 1.1 billion was invested directly in a variety of companies and $ .3 billion was invested indirectly through various private equity funds .included in direct investments are investment activities of two private equity funds that are consolidated for financial reporting purposes .the noncontrolling interests of these funds totaled $ 170 million as of december 31 , 2015 .the interests held in indirect private equity funds are not redeemable , but pnc may receive distributions over the life of the partnership from liquidation of the underlying investments .see item 1 business 2013 supervision and regulation and item 1a risk factors of this report for discussion of the potential impacts of the volcker rule provisions of dodd-frank on our interests in and of private funds covered by the volcker rule .in 2015 , pnc invested with six other banks in early warning services ( ews ) , a provider of fraud prevention and risk management solutions .ews then acquired clearxchange , a network through which customers send and receive person-to- person payments .integrating these businesses will enable us to , among other things , create a secure , real-time payments network .our unfunded commitments related to private equity totaled $ 126 million at december 31 , 2015 compared with $ 140 million at december 31 , 2014 .see note 7 fair value , note 20 legal proceedings and note 21 commitments and guarantees in the notes to consolidated financial statements in item 8 of this report for additional information regarding the october 2007 visa restructuring , our involvement with judgment and loss sharing agreements with visa and certain other banks , the status of pending interchange litigation , the sales of portions of our visa class b common shares and the related swap agreements with the purchasers .during 2015 , we sold 2.0 million visa class b common shares , in addition to the 16.5 million shares sold in previous years .we have entered into swap agreements with the purchasers of the shares as part of these sales .see note 7 fair value in the notes to consolidated financial statements in item 8 of this report for additional information .at december 31 , 2015 , our investment in visa class b common shares totaled approximately 4.9 million shares and had a carrying value of $ 31 million .based on the december 31 , 2015 closing price of $ 77.55 for the visa class a common shares , the fair value of our total investment was approximately $ 622 million at the current conversion rate .the visa class b common shares that we own are transferable only under limited circumstances until they can be converted into shares of the publicly traded class of stock , which cannot happen until the settlement of all of the specified litigation .90 the pnc financial services group , inc .2013 form 10-k .
|
for the blackrock common stock equivalent shares at december 31 , 2015 , accounted for under the equity method , what was the cost per share in dollars?
|
189.31
|
{
"answer": "189.31",
"decimal": 189.31,
"type": "float"
}
| |
entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis results of operations net income 2017 compared to 2016 net income decreased $ 305.7 million primarily due to the effect of the enactment of the tax cuts and jobs act , in december 2017 , which resulted in a decrease of $ 182.6 million in net income in 2017 , and the effect of a settlement with the irs related to the 2010-2011 irs audit , which resulted in a $ 136.1 million reduction of income tax expense in 2016 .also contributing to the decrease in net income were higher other operation and maintenance expenses .the decrease was partially offset by higher net revenue and higher other income .see note 3 to the financial statements for discussion of the effects of the tax cuts and jobs act and the irs audit .2016 compared to 2015 net income increased $ 175.4 million primarily due to the effect of a settlement with the irs related to the 2010-2011 irs audit , which resulted in a $ 136.1 million reduction of income tax expense in 2016 .also contributing to the increase were lower other operation and maintenance expenses , higher net revenue , and higher other income .the increase was partially offset by higher depreciation and amortization expenses , higher interest expense , and higher nuclear refueling outage expenses .see note 3 to the financial statements for discussion of the irs audit .net revenue 2017 compared to 2016 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 2017 to 2016 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2016 net revenue', '$ 2438.4'], ['regulatory credit resulting from reduction of thefederal corporate income tax rate', '55.5'], ['retail electric price', '42.8'], ['louisiana act 55 financing savings obligation', '17.2'], ['volume/weather', '-12.4 ( 12.4 )'], ['other', '19.0'], ['2017 net revenue', '$ 2560.5']]
the regulatory credit resulting from reduction of the federal corporate income tax rate variance is due to the reduction of the vidalia purchased power agreement regulatory liability by $ 30.5 million and the reduction of the louisiana act 55 financing savings obligation regulatory liabilities by $ 25 million as a result of the enactment of the tax cuts and jobs act , in december 2017 , which lowered the federal corporate income tax rate from 35% ( 35 % ) to 21% ( 21 % ) .the effects of the tax cuts and jobs act are discussed further in note 3 to the financial statements. .
|
how much higher was net revenue in 2017 than in 2016 ? ( in millions )
|
122.1
|
{
"answer": "122.1",
"decimal": 122.1,
"type": "float"
}
| |
we prepare estimates of research and development costs for projects in clinical development , which include direct costs and allocations of certain costs such as indirect labor , non-cash compensation expense , and manufacturing and other costs related to activities that benefit multiple projects , and , under our collaboration with bayer healthcare , the portion of bayer healthcare 2019s vegf trap-eye development expenses that we are obligated to reimburse .our estimates of research and development costs for clinical development programs are shown below : project costs year ended december 31 , increase ( decrease ) ( in millions ) 2009 2008 .
[['project costs ( in millions )', 'project costs 2009', '2008', '( decrease )'], ['arcalyst ae', '$ 67.7', '$ 39.2', '$ 28.5'], ['vegf trap-eye', '109.8', '82.7', '27.1'], ['aflibercept', '23.3', '32.1', '-8.8 ( 8.8 )'], ['regn88', '36.9', '21.4', '15.5'], ['other antibody candidates in clinical development', '74.4', '27.4', '47.0'], ['other research programs & unallocated costs', '86.7', '72.1', '14.6'], ['total research and development expenses', '$ 398.8', '$ 274.9', '$ 123.9']]
for the reasons described above in results of operations for the years ended december 31 , 2010 and 2009 , under the caption 201cresearch and development expenses 201d , and due to the variability in the costs necessary to develop a pharmaceutical product and the uncertainties related to future indications to be studied , the estimated cost and scope of the projects , and our ultimate ability to obtain governmental approval for commercialization , accurate and meaningful estimates of the total cost to bring our product candidates to market are not available .similarly , we are currently unable to reasonably estimate if our product candidates will generate material product revenues and net cash inflows .in 2008 , we received fda approval for arcalyst ae for the treatment of caps , a group of rare , inherited auto-inflammatory diseases that affect a very small group of people .we currently do not expect to generate material product revenues and net cash inflows from the sale of arcalyst ae for the treatment of caps .selling , general , and administrative expenses selling , general , and administrative expenses increased to $ 52.9 million in 2009 from $ 48.9 million in 2008 .in 2009 , we incurred ( i ) higher compensation expense , ( ii ) higher patent-related costs , ( iii ) higher facility-related costs due primarily to increases in administrative headcount , and ( iv ) higher patient assistance costs related to arcalyst ae .these increases were partly offset by ( i ) lower marketing costs related to arcalyst ae , ( ii ) a decrease in administrative recruitment costs , and ( iii ) lower professional fees related to various corporate matters .cost of goods sold during 2008 , we began recognizing revenue and cost of goods sold from net product sales of arcalyst ae .cost of goods sold in 2009 and 2008 was $ 1.7 million and $ 0.9 million , respectively , and consisted primarily of royalties and other period costs related to arcalyst ae commercial supplies .in 2009 and 2008 , arcalyst ae shipments to our customers consisted of supplies of inventory manufactured and expensed as research and development costs prior to fda approval in 2008 ; therefore , the costs of these supplies were not included in costs of goods sold .other income and expense investment income decreased to $ 4.5 million in 2009 from $ 18.2 million in 2008 , due primarily to lower yields on , and lower balances of , cash and marketable securities .in addition , in 2009 and 2008 , deterioration in the credit quality of specific marketable securities in our investment portfolio subjected us to the risk of not being able to recover these securities 2019 carrying values .as a result , in 2009 and 2008 , we recognized charges of $ 0.1 million and $ 2.5 million , respectively , related to these securities , which we considered to be other than temporarily impaired .in 2009 and 2008 , these charges were either wholly or partly offset by realized gains of $ 0.2 million and $ 1.2 million , respectively , on sales of marketable securities during the year. .
|
what was the percentage change in research and development costs related to arcalyst ae from 2008 to 2009?
|
73%
|
{
"answer": "73%",
"decimal": 0.73,
"type": "percentage"
}
| |
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 components of accumulated other comprehensive income are as follows ( in millions ) : accumulated foreign foreign minimum unrealized other currency currency pension gains on comprehensive translation hedges liability securities income .
[['', 'foreign currency translation', 'foreign currency hedges', 'minimum pension liability', 'unrealized gains on securities', 'accumulated other comprehensive income'], ['beginning balance at january 1 2004', '$ 179.7', '$ -40.4 ( 40.4 )', '$ -0.6 ( 0.6 )', '$ 2013', '$ 138.7'], ['other comprehensive income ( loss )', '145.5', '-33.0 ( 33.0 )', '-0.3 ( 0.3 )', '2.4', '114.6'], ['balance at december 31 2004', '$ 325.2', '$ -73.4 ( 73.4 )', '$ -0.9 ( 0.9 )', '$ 2.4', '$ 253.3']]
accounting pronouncements 2013 in november 2004 , the no .123 ( r ) requires all share-based payments to employees , fasb issued fasb staff position ( 2018 2018fsp 2019 2019 ) 109-1 , 2018 2018application including stock options , to be expensed based on their fair of fasb statement no .109 , accounting for income taxes , to values .the company has disclosed the effect on net earnings the tax deduction on qualified production activities and earnings per share if the company had applied the fair provided by the american jobs creation act of 2004 2019 2019 and value recognition provisions of sfas 123 .sfas 123 ( r ) fsp 109-2 , 2018 2018accounting and disclosure guidance for the contains three methodologies for adoption : 1 ) adopt foreign earnings repatriation provision within the american sfas 123 ( r ) on the effective date for interim periods jobs creation act of 2004 2019 2019 .fsp 109-1 states that a thereafter , 2 ) adopt sfas 123 ( r ) on the effective date for company 2019s deduction under the american jobs creation act interim periods thereafter and restate prior interim periods of 2004 ( the 2018 2018act 2019 2019 ) should be accounted for as a special included in the fiscal year of adoption under the provisions of deduction in accordance with sfas no .109 and not as a tax sfas 123 , or 3 ) adopt sfas 123 ( r ) on the effective date for rate reduction .fsp 109-2 provides accounting and disclosure interim periods thereafter and restate all prior interim guidance for repatriation provisions included under the act .periods under the provisions of sfas 123 .the company has fsp 109-1 and fsp 109-2 were both effective upon issuance .not determined an adoption methodology .the company is in the adoption of these fsp 2019s did not have a material impact the process of assessing the impact that sfas 123 ( r ) will on the company 2019s financial position , results of operations or have on its financial position , results of operations and cash cash flows in 2004 .flows .sfas 123 ( r ) is effective for the company on july 1 , in november 2004 , the fasb issued sfas no .151 , 2005 .2018 2018inventory costs 2019 2019 to clarify the accounting for abnormal amounts of idle facility expense .sfas no .151 requires that 3 .acquisitions fixed overhead production costs be applied to inventory at centerpulse ag and incentive capital ag 2018 2018normal capacity 2019 2019 and any excess fixed overhead production costs be charged to expense in the period in which they were on october 2 , 2003 ( the 2018 2018closing date 2019 2019 ) , the company incurred .sfas no .151 is effective for fiscal years beginning closed its exchange offer for centerpulse , a global after june 15 , 2005 .the company does not expect sfas orthopaedic medical device company headquartered in no .151 to have a material impact on its financial position , switzerland that services the reconstructive joint , spine and results of operations , or cash flows .dental implant markets .the company also closed its in december 2004 , the fasb issued sfas no .153 , exchange offer for incentive , a company that , at the closing 2018 2018exchanges of nonmonetary assets 2019 2019 , which is effective for date , owned only cash and beneficially owned 18.3 percent of fiscal years beginning after june 15 , 2004 .the company does the issued centerpulse shares .the primary reason for not routinely engage in exchanges of nonmonetary assets ; as making the centerpulse and incentive exchange offers ( the such , sfas no .153 is not expected to have a material impact 2018 2018exchange offers 2019 2019 ) was to create a global leader in the on the company 2019s financial position , results of operations or design , development , manufacture and marketing of cash flows .orthopaedic reconstructive implants , including joint and in may 2004 , the fasb issued fsp 106-2 2018 2018accounting dental , spine implants , and trauma products .the strategic and disclosure requirements related to the medicare compatibility of the products and technologies of the prescription drug , improvement and modernization act of company and centerpulse is expected to provide significant 2003 2019 2019 , which is effective for the first interim or annual period earnings power and a strong platform from which it can beginning after june 15 , 2004 .the company does not expect actively pursue growth opportunities in the industry .for the to be eligible for the federal subsidy available pursuant to the company , centerpulse provides a unique platform for growth medicare prescription drug improvement and modernization and diversification in europe as well as in the spine and act of 2003 ; therefore , this staff position did not have a dental areas of the medical device industry .as a result of the material impact on the company 2019s results of operations , exchange offers , the company beneficially owned financial position or cash flow .98.7 percent of the issued centerpulse shares ( including the in december 2004 , the fasb issued sfas no .123 ( r ) , centerpulse shares owned by incentive ) and 99.9 percent of 2018 2018share-based payment 2019 2019 , which is a revision to sfas no .123 , the issued incentive shares on the closing date .2018 2018accounting for stock based compensation 2019 2019 .sfas .
|
what was the percentage change in foreign currency translation in 2004?
|
81%
|
{
"answer": "81%",
"decimal": 0.81,
"type": "percentage"
}
| |
entergy new orleans , inc .management's financial discussion and analysis results of operations net income ( loss ) 2004 compared to 2003 net income increased $ 20.2 million primarily due to higher net revenue .2003 compared to 2002 entergy new orleans had net income of $ 7.9 million in 2003 compared to a net loss in 2002 .the increase was due to higher net revenue and lower interest expense , partially offset by higher other operation and maintenance expenses and depreciation and amortization expenses .net revenue 2004 compared to 2003 net revenue , which is entergy new orleans' measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory credits .following is an analysis of the change in net revenue comparing 2004 to 2003. .
[['', '( in millions )'], ['2003 net revenue', '$ 208.3'], ['base rates', '10.6'], ['volume/weather', '8.3'], ['2004 deferrals', '7.5'], ['price applied to unbilled electric sales', '3.7'], ['other', '0.6'], ['2004 net revenue', '$ 239.0']]
the increase in base rates was effective june 2003 .the rate increase is discussed in note 2 to the domestic utility companies and system energy financial statements .the volume/weather variance is primarily due to increased billed electric usage of 162 gwh in the industrial service sector .the increase was partially offset by milder weather in the residential and commercial sectors .the 2004 deferrals variance is due to the deferral of voluntary severance plan and fossil plant maintenance expenses in accordance with a stipulation approved by the city council in august 2004 .the stipulation allows for the recovery of these costs through amortization of a regulatory asset .the voluntary severance plan and fossil plant maintenance expenses are being amortized over a five-year period that became effective january 2004 and january 2003 , respectively .the formula rate plan is discussed in note 2 to the domestic utility companies and system energy financial statements .the price applied to unbilled electric sales variance is due to an increase in the fuel price applied to unbilled sales. .
|
what is the growth rate in net revenue for entergy new orleans , inc . in 2004?
|
14.7%
|
{
"answer": "14.7%",
"decimal": 0.147,
"type": "percentage"
}
| |
shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the securities and exchange commission , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing .the following graph shows a five year comparison of cumulative total shareowners 2019 returns for our class b common stock , the standard & poor 2019s 500 index , and the dow jones transportation average .the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2005 in the standard & poor 2019s 500 index , the dow jones transportation average , and our class b common stock .comparison of five year cumulative total return $ 40.00 $ 60.00 $ 80.00 $ 100.00 $ 120.00 $ 140.00 $ 160.00 201020092008200720062005 s&p 500 ups dj transport .
[['', '12/31/05', '12/31/06', '12/31/07', '12/31/08', '12/31/09', '12/31/10'], ['united parcel service inc .', '$ 100.00', '$ 101.76', '$ 98.20', '$ 78.76', '$ 84.87', '$ 110.57'], ['standard & poor 2019s 500 index', '$ 100.00', '$ 115.79', '$ 122.16', '$ 76.96', '$ 97.33', '$ 111.99'], ['dow jones transportation average', '$ 100.00', '$ 109.82', '$ 111.38', '$ 87.52', '$ 103.79', '$ 131.59']]
.
|
what is the difference in total cumulative return on investment between united parcel service inc . and the dow jones transportation average for the five year period ending 12/31/10?
|
-21.02
|
{
"answer": "-21.02",
"decimal": -21.02,
"type": "float"
}
| |
2022 expand client relationships - the overall market we serve continues to gravitate beyond single-application purchases to multi-solution partnerships .as the market dynamics shift , we expect our clients and prospects to rely more on our multidimensional service offerings .our leveraged solutions and processing expertise can produce meaningful value and cost savings for our clients through more efficient operating processes , improved service quality and convenience for our clients' customers .2022 build global diversification - we continue to deploy resources in global markets where we expect to achieve meaningful scale .revenues by segment the table below summarizes our revenues by reporting segment ( in millions ) : .
[['', '2017', '2016', '2015'], ['ifs', '$ 4630', '$ 4525', '$ 3809'], ['gfs', '4138', '4250', '2361'], ['corporate and other', '355', '466', '426'], ['total consolidated revenues', '$ 9123', '$ 9241', '$ 6596']]
integrated financial solutions ( "ifs" ) the ifs segment is focused primarily on serving north american regional and community bank and savings institutions for transaction and account processing , payment solutions , channel solutions , digital channels , fraud , risk management and compliance solutions , lending and wealth and retirement solutions , and corporate liquidity , capitalizing on the continuing trend to outsource these solutions .clients in this segment include regional and community banks , credit unions and commercial lenders , as well as government institutions , merchants and other commercial organizations .these markets are primarily served through integrated solutions and characterized by multi-year processing contracts that generate highly recurring revenues .the predictable nature of cash flows generated from this segment provides opportunities for further investments in innovation , integration , information and security , and compliance in a cost-effective manner .our solutions in this segment include : 2022 core processing and ancillary applications .our core processing software applications are designed to run banking processes for our financial institution clients , including deposit and lending systems , customer management , and other central management systems , serving as the system of record for processed activity .our diverse selection of market- focused core systems enables fis to compete effectively in a wide range of markets .we also offer a number of services that are ancillary to the primary applications listed above , including branch automation , back-office support systems and compliance support .2022 digital solutions , including internet , mobile and ebanking .our comprehensive suite of retail delivery applications enables financial institutions to integrate and streamline customer-facing operations and back-office processes , thereby improving customer interaction across all channels ( e.g. , branch offices , internet , atm , mobile , call centers ) .fis' focus on consumer access has driven significant market innovation in this area , with multi-channel and multi-host solutions and a strategy that provides tight integration of services and a seamless customer experience .fis is a leader in mobile banking solutions and electronic banking enabling clients to manage banking and payments through the internet , mobile devices , accounting software and telephone .our corporate electronic banking solutions provide commercial treasury capabilities including cash management services and multi-bank collection and disbursement services that address the specialized needs of corporate clients .fis systems provide full accounting and reconciliation for such transactions , serving also as the system of record. .
|
what is the growth rate in revenues generated by the fis segment from 2016 to 2017?
|
2.3%
|
{
"answer": "2.3%",
"decimal": 0.023,
"type": "percentage"
}
| |
at december 31 , 2012 and 2011 , we had a working capital surplus .this reflects a strong cash position , which provides enhanced liquidity in an uncertain economic environment .in addition , we believe we have adequate access to capital markets to meet any foreseeable cash requirements , and we have sufficient financial capacity to satisfy our current liabilities .cash flows millions 2012 2011 2010 .
[['cash flowsmillions', '2012', '2011', '2010'], ['cash provided by operating activities', '$ 6161', '$ 5873', '$ 4105'], ['cash used in investing activities', '-3633 ( 3633 )', '-3119 ( 3119 )', '-2488 ( 2488 )'], ['cash used in financing activities', '-2682 ( 2682 )', '-2623 ( 2623 )', '-2381 ( 2381 )'], ['net change in cash and cashequivalents', '$ -154 ( 154 )', '$ 131', '$ -764 ( 764 )']]
operating activities higher net income in 2012 increased cash provided by operating activities compared to 2011 , partially offset by lower tax benefits from bonus depreciation ( as explained below ) and payments for past wages based on national labor negotiations settled earlier this year .higher net income and lower cash income tax payments in 2011 increased cash provided by operating activities compared to 2010 .the tax relief , unemployment insurance reauthorization , and job creation act of 2010 provided for 100% ( 100 % ) bonus depreciation for qualified investments made during 2011 , and 50% ( 50 % ) bonus depreciation for qualified investments made during 2012 .as a result of the act , the company deferred a substantial portion of its 2011 income tax expense .this deferral decreased 2011 income tax payments , thereby contributing to the positive operating cash flow .in future years , however , additional cash will be used to pay income taxes that were previously deferred .in addition , the adoption of a new accounting standard in january of 2010 changed the accounting treatment for our receivables securitization facility from a sale of undivided interests ( recorded as an operating activity ) to a secured borrowing ( recorded as a financing activity ) , which decreased cash provided by operating activities by $ 400 million in 2010 .investing activities higher capital investments in 2012 drove the increase in cash used in investing activities compared to 2011 .included in capital investments in 2012 was $ 75 million for the early buyout of 165 locomotives under long-term operating and capital leases during the first quarter of 2012 , which we exercised due to favorable economic terms and market conditions .higher capital investments partially offset by higher proceeds from asset sales in 2011 drove the increase in cash used in investing activities compared to 2010. .
|
what was the average cost per locomotive for the 2012 early buyout?
|
454545
|
{
"answer": "454545",
"decimal": 454545,
"type": "float"
}
| |
kinder morgan , inc .form 10-k indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by section 13 or 15 ( d ) of the securities exchange act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days .yes f06f no f0fe indicate by check mark whether the registrant has submitted electronically and posted on its corporate website , if any , every interactive data file required to be submitted and posted pursuant to rule 405 of regulation s-t during the preceding 12 months ( or for such shorter period that the registrant was required to submit and post such files ) .yes f06f no f06f indicate by check mark if disclosure of delinquent filers pursuant to item 405 of regulation s-k is not contained herein , and will not be contained , to the best of registrant 2019s knowledge , in definitive proxy or information statements incorporated by reference in part iii of this form 10-k or any amendment to this form 10-k .f0fe indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non-accelerated filer , or a smaller reporting company ( as defined in rule 12b-2 of the securities exchange act of 1934 ) .large accelerated filer f06f accelerated filer f06f non-accelerated filer f0fe smaller reporting company f06f indicate by check mark whether the registrant is a shell company ( as defined in rule 12b-2 of the securities exchange act of 1934 ) .yes f06f no f0fe as of june 30 , 2010 , the registrant was a privately held company , and therefore the market value of its common equity held by nonaffiliates was zero .as of february 16 , 2011 , the registrant had the following number of shares of common stock outstanding: .
[['class a common stock', '597213410'], ['class b common stock', '100000000'], ['class c common stock', '2462927'], ['class p common stock', '109786590']]
explanatory note prior to the consummation of its february 2011 initial public offering , kinder morgan , inc. , was a delaware limited liability company named kinder morgan holdco llc whose unitholders became stockholders of kinder morgan , inc .upon the completion of its initial public offering .except as disclosed in the accompanying report , the consolidated financial statements and selected historical consolidated financial data and other historical financial information included in this report are those of kinder morgan holdco llc or its predecessor and their respective subsidiaries and do not give effect to the conversion .kinder morgan holdco llc 2019s wholly owned subsidiary , kinder morgan , inc. , who was not the registrant under our initial public offering , has changed its name to kinder morgan kansas , inc. .
|
what is the total number of shares of common stock outstanding?
|
809462927
|
{
"answer": "809462927",
"decimal": 809462927,
"type": "float"
}
| |
hlikk has four revolving credit facilities in support of operations .two of the credit facilities have no amounts drawn as of december 31 , 2013 with borrowing limits of approximately a55 billion , or $ 48 each , and individually have expiration dates of january 5 , 2015 and september 30 , 2014 .in december 2013 , hlikk entered into two new revolving credit facility agreements with two japanese banks in order to finance certain withholding taxes on mutual fund gains , that are subsequently credited when hlikk files its 2019 income tax returns .at december 31 , 2013 , hlikk had drawn the total borrowing limits of a55 billion , or $ 48 , and a520 billion , or $ 190 on these credit facilities .the a55 billion credit facility accrues interest at a variable rate based on the one month tokyo interbank offering rate ( tibor ) plus 3 bps , which as of december 31 , 2013 the interest rate was 15 bps , and the a520 billion credit facility accrues interest at a variable rate based on tibor plus 3 bps , or the actual cost of funding , which as of december 31 , 2013 the interest rate was 20 bps .both of the credit facilities expire on september 30 , 2014 .derivative commitments certain of the company 2019s derivative agreements contain provisions that are tied to the financial strength ratings of the individual legal entity that entered into the derivative agreement as set by nationally recognized statistical rating agencies .if the legal entity 2019s financial strength were to fall below certain ratings , the counterparties to the derivative agreements could demand immediate and ongoing full collateralization and in certain instances demand immediate settlement of all outstanding derivative positions traded under each impacted bilateral agreement .the settlement amount is determined by netting the derivative positions transacted under each agreement .if the termination rights were to be exercised by the counterparties , it could impact the legal entity 2019s ability to conduct hedging activities by increasing the associated costs and decreasing the willingness of counterparties to transact with the legal entity .the aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a net liability position as of december 31 , 2013 was $ 1.2 billion .of this $ 1.2 billion the legal entities have posted collateral of $ 1.4 billion in the normal course of business .in addition , the company has posted collateral of $ 44 associated with a customized gmwb derivative .based on derivative market values as of december 31 , 2013 , a downgrade of one level below the current financial strength ratings by either moody 2019s or s&p could require approximately an additional $ 12 to be posted as collateral .based on derivative market values as of december 31 , 2013 , a downgrade by either moody 2019s or s&p of two levels below the legal entities 2019 current financial strength ratings could require approximately an additional $ 33 of assets to be posted as collateral .these collateral amounts could change as derivative market values change , as a result of changes in our hedging activities or to the extent changes in contractual terms are negotiated .the nature of the collateral that we would post , if required , would be primarily in the form of u.s .treasury bills , u.s .treasury notes and government agency securities .as of december 31 , 2013 , the aggregate notional amount and fair value of derivative relationships that could be subject to immediate termination in the event of rating agency downgrades to either bbb+ or baa1 was $ 536 and $ ( 17 ) , respectively .insurance operations current and expected patterns of claim frequency and severity or surrenders may change from period to period but continue to be within historical norms and , therefore , the company 2019s insurance operations 2019 current liquidity position is considered to be sufficient to meet anticipated demands over the next twelve months , including any obligations related to the company 2019s restructuring activities .for a discussion and tabular presentation of the company 2019s current contractual obligations by period , refer to off-balance sheet arrangements and aggregate contractual obligations within the capital resources and liquidity section of the md&a .the principal sources of operating funds are premiums , fees earned from assets under management and investment income , while investing cash flows originate from maturities and sales of invested assets .the primary uses of funds are to pay claims , claim adjustment expenses , commissions and other underwriting expenses , to purchase new investments and to make dividend payments to the hfsg holding company .the company 2019s insurance operations consist of property and casualty insurance products ( collectively referred to as 201cproperty & casualty operations 201d ) and life insurance and legacy annuity products ( collectively referred to as 201clife operations 201d ) .property & casualty operations property & casualty operations holds fixed maturity securities including a significant short-term investment position ( securities with maturities of one year or less at the time of purchase ) to meet liquidity needs .as of december 31 , 2013 , property & casualty operations 2019 fixed maturities , short-term investments , and cash are summarized as follows: .
[['fixed maturities', '$ 24704'], ['short-term investments', '984'], ['cash', '189'], ['less : derivative collateral', '241'], ['total', '$ 25636']]
.
|
what percent of total amount is held on fixed maturities?
|
96.36%
|
{
"answer": "96.36%",
"decimal": 0.9636,
"type": "percentage"
}
| |
entergy louisiana , llc management's financial discussion and analysis 2007 compared to 2006 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .following is an analysis of the change in net revenue comparing 2007 to 2006 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2006 net revenue', '$ 942.1'], ['base revenues', '78.4'], ['volume/weather', '37.5'], ['transmission revenue', '9.2'], ['purchased power capacity', '-80.0 ( 80.0 )'], ['other', '3.9'], ['2007 net revenue', '$ 991.1']]
the base revenues variance is primarily due to increases effective september 2006 for the 2005 formula rate plan filing to recover lpsc-approved incremental deferred and ongoing capacity costs .see "state and local rate regulation" below and note 2 to the financial statements for a discussion of the formula rate plan filing .the volume/weather variance is due to increased electricity usage , including electricity sales during the unbilled service period .billed retail electricity usage increased a total of 666 gwh in all sectors compared to 2006 .see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues .the transmission revenue variance is primarily due to higher rates .the purchased power capacity variance is primarily due to higher purchased power capacity charges and the amortization of capacity charges effective september 2006 as a result of the formula rate plan filing in may 2006 .a portion of the purchased power capacity costs is offset in base revenues due to a base rate increase implemented to recover incremental deferred and ongoing purchased power capacity charges , as mentioned above .see "state and local rate regulation" below and note 2 to the financial statements for a discussion of the formula rate plan filing .gross operating revenues , fuel , purchased power expenses , and other regulatory charges ( credits ) gross operating revenues increased primarily due to : an increase of $ 143.1 million in fuel cost recovery revenues due to higher fuel rates and usage ; an increase of $ 78.4 million in base revenues , as discussed above ; and an increase of $ 37.5 million related to volume/weather , as discussed above .fuel and purchased power expenses increased primarily due to an increase in net area demand and an increase in deferred fuel expense as a result of higher fuel rates , as discussed above .other regulatory credits decreased primarily due to the deferral of capacity charges in 2006 in addition to the amortization of these capacity charges in 2007 as a result of the may 2006 formula rate plan filing ( for the 2005 test year ) with the lpsc to recover such costs through base rates effective september 2006 .see note 2 to the financial statements for a discussion of the formula rate plan and storm cost recovery filings with the lpsc. .
|
what is the net change in net revenue during 2007?
|
49
|
{
"answer": "49",
"decimal": 49,
"type": "float"
}
| |
as noted above , as a result of these sales , these regulated subsidiaries are presented as discontinued operations for all periods presented .therefore , the amounts , statistics and tables presented in this section refer only to on-going operations , unless otherwise noted .the following table sets forth our regulated businesses operating revenue for 2012 and number of customers from continuing operations as well as an estimate of population served as of december 31 , 2012 : operating revenues ( in millions ) % ( % ) of total number of customers % ( % ) of total estimated population served ( in millions ) % ( % ) of total .
[['new jersey', 'operating revenues ( in millions ) $ 639.0', '% ( % ) of total 24.9% ( 24.9 % )', 'number of customers 639838', '% ( % ) of total 20.3% ( 20.3 % )', 'estimated population served ( in millions ) 2.5', '% ( % ) of total 21.9% ( 21.9 % )'], ['pennsylvania', '557.7', '21.7% ( 21.7 % )', '658153', '20.8% ( 20.8 % )', '2.2', '19.3% ( 19.3 % )'], ['missouri', '279.5', '10.9% ( 10.9 % )', '455730', '14.4% ( 14.4 % )', '1.5', '13.2% ( 13.2 % )'], ['illinois ( a )', '256.4', '10.0% ( 10.0 % )', '308014', '9.8% ( 9.8 % )', '1.2', '10.5% ( 10.5 % )'], ['indiana', '198.7', '7.8% ( 7.8 % )', '289068', '9.2% ( 9.2 % )', '1.2', '10.5% ( 10.5 % )'], ['california', '193.3', '7.5% ( 7.5 % )', '174188', '5.5% ( 5.5 % )', '0.6', '5.3% ( 5.3 % )'], ['west virginia ( b )', '125.0', '4.9% ( 4.9 % )', '172159', '5.4% ( 5.4 % )', '0.6', '5.3% ( 5.3 % )'], ['subtotal ( top seven states )', '2249.6', '87.7% ( 87.7 % )', '2697150', '85.4% ( 85.4 % )', '9.8', '86.0% ( 86.0 % )'], ['other ( c )', '314.8', '12.3% ( 12.3 % )', '461076', '14.6% ( 14.6 % )', '1.6', '14.0% ( 14.0 % )'], ['total regulated businesses', '$ 2564.4', '100.0% ( 100.0 % )', '3158226', '100.0% ( 100.0 % )', '11.4', '100.0% ( 100.0 % )']]
( a ) includes illinois-american water company , which we refer to as ilawc and american lake water company , also a regulated subsidiary in illinois .( b ) west virginia-american water company , which we refer to as wvawc , and its subsidiary bluefield valley water works company .( c ) includes data from our operating subsidiaries in the following states : georgia , hawaii , iowa , kentucky , maryland , michigan , new york , tennessee , and virginia .approximately 87.7% ( 87.7 % ) of operating revenue from our regulated businesses in 2012 was generated from approximately 2.7 million customers in our seven largest states , as measured by operating revenues .in fiscal year 2012 , no single customer accounted for more than 10% ( 10 % ) of our annual operating revenue .overview of networks , facilities and water supply our regulated businesses operate in approximately 1500 communities in 16 states in the united states .our primary operating assets include approximately 80 surface water treatment plants , 500 groundwater treatment plants , 1000 groundwater wells , 100 wastewater treatment facilities , 1200 treated water storage facilities , 1300 pumping stations , 90 dams and 46000 miles of mains and collection pipes .our regulated utilities own substantially all of the assets used by our regulated businesses .we generally own the land and physical assets used to store , extract and treat source water .typically , we do not own the water itself , which is held in public trust and is allocated to us through contracts and allocation rights granted by federal and state agencies or through the ownership of water rights pursuant to local law .maintaining the reliability of our networks is a key activity of our regulated businesses .we have ongoing infrastructure renewal programs in all states in which our regulated businesses operate .these programs consist of both rehabilitation of existing mains and replacement of mains that have reached the end of their useful service lives .our ability to meet the existing and future water demands of our customers depends on an adequate supply of water .drought , governmental restrictions , overuse of sources of water , the protection of threatened species or habitats or other factors may limit the availability of ground and surface water .we employ a variety of measures to ensure that we have adequate sources of water supply , both in the short-term and over the long-term .the geographic diversity of our service areas tends to mitigate some of the economic effect of weather extremes we .
|
what is the approximate customer penetration for the total regulated businesses?
|
28%
|
{
"answer": "28%",
"decimal": 0.28,
"type": "percentage"
}
|
customer penetration - customers divided by total population in those states
|
2011 compared to 2010 is&gs 2019 net sales for 2011 decreased $ 540 million , or 5% ( 5 % ) , compared to 2010 .the decrease primarily was attributable to lower volume of approximately $ 665 million due to the absence of the dris program that supported the 2010 u.s .census and a decline in activities on the jtrs program .this decrease partially was offset by increased net sales on numerous programs .is&gs 2019 operating profit for 2011 increased $ 60 million , or 7% ( 7 % ) , compared to 2010 .operating profit increased approximately $ 180 million due to volume and the retirement of risks in 2011 and the absence of reserves recognized in 2010 on numerous programs ( including among others , odin ( about $ 60 million ) and twic and automated flight service station programs ) .the increases in operating profit partially were offset by the absence of the dris program and a decline in activities on the jtrs program of about $ 120 million .adjustments not related to volume , including net profit rate adjustments described above , were approximately $ 130 million higher in 2011 compared to 2010 .backlog backlog decreased in 2012 compared to 2011 primarily due to the substantial completion of various programs in 2011 ( primarily odin , u.k .census , and jtrs ) .the decrease in backlog during 2011 compared to 2010 mainly was due to declining activities on the jtrs program and several other smaller programs .trends we expect is&gs 2019 net sales to decline in 2013 in the mid single digit percentage range as compared to 2012 primarily due to the continued downturn in federal information technology budgets .operating profit is expected to decline in 2013 in the mid single digit percentage range consistent with the expected decline in net sales , resulting in margins that are comparable with 2012 results .missiles and fire control our mfc business segment provides air and missile defense systems ; tactical missiles and air-to-ground precision strike weapon systems ; fire control systems ; mission operations support , readiness , engineering support , and integration services ; logistics and other technical services ; and manned and unmanned ground vehicles .mfc 2019s major programs include pac-3 , thaad , multiple launch rocket system ( mlrs ) , hellfire , javelin , joint air-to-surface standoff missile ( jassm ) , apache fire control system ( apache ) , sniper ae , low altitude navigation and targeting infrared for night ( lantirn ae ) , and sof clss .mfc 2019s operating results included the following ( in millions ) : .
[['', '2012', '2011', '2010'], ['net sales', '$ 7457', '$ 7463', '$ 6930'], ['operating profit', '1256', '1069', '973'], ['operating margins', '16.8% ( 16.8 % )', '14.3% ( 14.3 % )', '14.0% ( 14.0 % )'], ['backlog at year-end', '14700', '14400', '12800']]
2012 compared to 2011 mfc 2019s net sales for 2012 were comparable to 2011 .net sales decreased approximately $ 130 million due to lower volume and risk retirements on various services programs , and about $ 60 million due to lower volume from fire control systems programs ( primarily sniper ae ; lantirn ae ; and apache ) .the decreases largely were offset by higher net sales of approximately $ 95 million due to higher volume from tactical missile programs ( primarily javelin and hellfire ) and approximately $ 80 million for air and missile defense programs ( primarily pac-3 and thaad ) .mfc 2019s operating profit for 2012 increased $ 187 million , or 17% ( 17 % ) , compared to 2011 .the increase was attributable to higher risk retirements and volume of about $ 95 million from tactical missile programs ( primarily javelin and hellfire ) ; increased risk retirements and volume of approximately $ 60 million for air and missile defense programs ( primarily thaad and pac-3 ) ; and about $ 45 million from a resolution of contractual matters .partially offsetting these increases was lower risk retirements and volume on various programs , including $ 25 million for services programs .adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 145 million higher for 2012 compared to 2011. .
|
what is the growth rate in net sales for mfc in 2012?
|
-0.1%
|
{
"answer": "-0.1%",
"decimal": -0.001,
"type": "percentage"
}
| |
host hotels & resorts , inc. , host hotels & resorts , l.p. , and subsidiaries notes to consolidated financial statements 2014 ( continued ) cash paid for income taxes , net of refunds received , was $ 40 million , $ 15 million , and $ 9 million in 2017 , 2016 , and 2015 , respectively .a reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows ( in millions ) : .
[['', '2017', '2016'], ['balance at january 1', '$ 11', '$ 11'], ['balance at december 31', '$ 11', '$ 11']]
all of such uncertain tax position amounts , if recognized , would impact our reconciliation between the income tax provision calculated at the statutory u.s .federal income tax rate of 35% ( 35 % ) ( 21% ( 21 % ) beginning with calendar year 2018 ) and the actual income tax provision recorded each year .as of december 31 , 2017 , the tax years that remain subject to examination by major tax jurisdictions generally include 2014-2017 .there were no material interest or penalties recorded for the years ended december 31 , 2017 , 2016 , and 2015 .7 .leases taxable reit subsidiaries leases we lease substantially all of our hotels to a wholly owned subsidiary that qualifies as a taxable reit subsidiary due to federal income tax restrictions on a reit 2019s ability to derive revenue directly from the operation and management of a hotel .ground leases as of december 31 , 2017 , all or a portion of 26 of our hotels are subject to ground leases , generally with multiple renewal options , all of which are accounted for as operating leases .for lease agreements with scheduled rent increases , we recognize the lease expense ratably over the term of the lease .certain of these leases contain provisions for the payment of contingent rentals based on a percentage of sales in excess of stipulated amounts .other lease information we also have leases on facilities used in our former restaurant business , all of which we subsequently subleased .these leases and subleases contain one or more renewal options , generally for five- or ten-year periods .the restaurant leases are accounted for as operating leases .our contingent liability related to these leases is $ 9 million as of december 31 , 2017 .we , however , consider the likelihood of any material funding related to these leases to be remote .our leasing activity also includes those entered into by our hotels for various types of equipment , such as computer equipment , vehicles and telephone systems .equipment leases are accounted for either as operating or capital leases , depending upon the characteristics of the particular lease arrangement .equipment leases that are characterized as capital leases are classified as furniture and equipment and are depreciated over the life of the lease .the amortization expense applicable to capitalized leases is included in depreciation expense. .
|
what was the percentage change in cash paid for income taxes , net of refunds received between 2016 and 2017?
|
167%
|
{
"answer": "167%",
"decimal": 1.67,
"type": "percentage"
}
| |
jpmorgan chase & co./2018 form 10-k 117 lending-related commitments the firm uses lending-related financial instruments , such as commitments ( including revolving credit facilities ) and guarantees , to address the financing needs of its clients .the contractual amounts of these financial instruments represent the maximum possible credit risk should the clients draw down on these commitments or the firm fulfill its obligations under these guarantees , and the clients subsequently fail to perform according to the terms of these contracts .most of these commitments and guarantees are refinanced , extended , cancelled , or expire without being drawn upon or a default occurring .in the firm 2019s view , the total contractual amount of these wholesale lending-related commitments is not representative of the firm 2019s expected future credit exposure or funding requirements .for further information on wholesale lending-related commitments , refer to note 27 .clearing services the firm provides clearing services for clients entering into certain securities and derivative contracts .through the provision of these services the firm is exposed to the risk of non-performance by its clients and may be required to share in losses incurred by ccps .where possible , the firm seeks to mitigate its credit risk to its clients through the collection of adequate margin at inception and throughout the life of the transactions and can also cease provision of clearing services if clients do not adhere to their obligations under the clearing agreement .for further discussion of clearing services , refer to note 27 .derivative contracts derivatives enable clients and counterparties to manage risks including credit risk and risks arising from fluctuations in interest rates , foreign exchange , equities , and commodities .the firm makes markets in derivatives in order to meet these needs and uses derivatives to manage certain risks associated with net open risk positions from its market-making activities , including the counterparty credit risk arising from derivative receivables .the firm also uses derivative instruments to manage its own credit and other market risk exposure .the nature of the counterparty and the settlement mechanism of the derivative affect the credit risk to which the firm is exposed .for otc derivatives the firm is exposed to the credit risk of the derivative counterparty .for exchange-traded derivatives ( 201cetd 201d ) , such as futures and options , and 201ccleared 201d over-the-counter ( 201cotc-cleared 201d ) derivatives , the firm is generally exposed to the credit risk of the relevant ccp .where possible , the firm seeks to mitigate its credit risk exposures arising from derivative contracts through the use of legally enforceable master netting arrangements and collateral agreements .for a further discussion of derivative contracts , counterparties and settlement types , refer to note 5 .the following table summarizes the net derivative receivables for the periods presented .derivative receivables .
[['december 31 ( in millions )', '2018', '2017'], ['total net of cash collateral', '$ 54213', '$ 56523'], ['liquid securities and other cash collateral held against derivative receivables ( a )', '-15322 ( 15322 )', '-16108 ( 16108 )'], ['total net of all collateral', '$ 38891', '$ 40415']]
( a ) includes collateral related to derivative instruments where appropriate legal opinions have not been either sought or obtained with respect to master netting agreements .the fair value of derivative receivables reported on the consolidated balance sheets were $ 54.2 billion and $ 56.5 billion at december 31 , 2018 and 2017 , respectively .derivative receivables represent the fair value of the derivative contracts after giving effect to legally enforceable master netting agreements and cash collateral held by the firm .however , in management 2019s view , the appropriate measure of current credit risk should also take into consideration additional liquid securities ( primarily u.s .government and agency securities and other group of seven nations ( 201cg7 201d ) government securities ) and other cash collateral held by the firm aggregating $ 15.3 billion and $ 16.1 billion at december 31 , 2018 and 2017 , respectively , that may be used as security when the fair value of the client 2019s exposure is in the firm 2019s favor .in addition to the collateral described in the preceding paragraph , the firm also holds additional collateral ( primarily cash , g7 government securities , other liquid government-agency and guaranteed securities , and corporate debt and equity securities ) delivered by clients at the initiation of transactions , as well as collateral related to contracts that have a non-daily call frequency and collateral that the firm has agreed to return but has not yet settled as of the reporting date .although this collateral does not reduce the balances and is not included in the table above , it is available as security against potential exposure that could arise should the fair value of the client 2019s derivative contracts move in the firm 2019s favor .the derivative receivables fair value , net of all collateral , also does not include other credit enhancements , such as letters of credit .for additional information on the firm 2019s use of collateral agreements , refer to note 5 .while useful as a current view of credit exposure , the net fair value of the derivative receivables does not capture the potential future variability of that credit exposure .to capture the potential future variability of credit exposure , the firm calculates , on a client-by-client basis , three measures of potential derivatives-related credit loss : peak , derivative risk equivalent ( 201cdre 201d ) , and average exposure ( 201cavg 201d ) .these measures all incorporate netting and collateral benefits , where applicable .peak represents a conservative measure of potential exposure to a counterparty calculated in a manner that is broadly equivalent to a 97.5% ( 97.5 % ) confidence level over the life of the transaction .peak is the primary measure used by the firm for setting of credit limits for derivative contracts , senior management reporting and derivatives exposure management .dre exposure is a measure that expresses the risk of derivative exposure on a basis intended to be .
|
what was the ratio of the fair value of derivative receivables reported on the consolidated balance sheets at december 31 , 2018 and 2017 .
|
0.96
|
{
"answer": "0.96",
"decimal": 0.96,
"type": "float"
}
| |
edwards lifesciences corporation notes to consolidated financial statements 2014 ( continued ) as of december 31 , 2004 , the company has approximately $ 64.6 million of non-united states tax net operating losses and $ 1.0 million of non-united states , non-expiring tax credits that are available for carryforward .net operating loss carryforwards , and the related carryforward periods , at december 31 , 2004 are summarized as follows ( in millions ) : gross net tax benefit carryforward operating loss amount period ends non-united states net operating loss****************** $ 35.3 $ 9.2 2005 20132014 non-united states net operating loss****************** 29.3 13.9 indefinite total ******************************************** $ 64.6 $ 23.1 a valuation allowance of $ 6.8 million has been provided for certain of the above carryforwards .this valuation allowance reduces the deferred tax asset of $ 23.1 million to an amount that is more likely than not to be realized .the company 2019s income tax returns in several locations are being examined by the local taxation authorities .management believes that adequate amounts of tax and related interest , if any , have been provided for any adjustments that may result from these examinations .17 .legal proceedings on june 29 , 2000 , edwards lifesciences filed a lawsuit against st .jude medical , inc .alleging infringement of several edwards lifesciences united states patents .this lawsuit was filed in the united states district court for the central district of california , seeking monetary damages and injunctive relief .pursuant to the terms of a january 7 , 2005 settlement agreement , edwards lifesciences was paid $ 5.5 million by st .jude , edwards lifesciences granted st .jude a paid-up license for certain of its heart valve therapy products and the lawsuit was dismissed .the settlement will not have a material financial impact on the company .on august 18 , 2003 , edwards lifesciences filed a lawsuit against medtronic , inc. , medtronic ave , cook , inc .and w.l .gore & associates alleging infringement of a patent exclusively licensed to the company .the lawsuit was filed in the united states district court for the northern district of california , seeking monetary damages and injunctive relief .on september 2 , 2003 , a second patent exclusively licensed to the company was added to the lawsuit .each of the defendants has answered and asserted various affirmative defenses and counterclaims .discovery is proceeding .in addition , edwards lifesciences is or may be a party to , or may be otherwise responsible for , pending or threatened lawsuits related primarily to products and services currently or formerly manufactured or performed , as applicable , by edwards lifesciences .such cases and claims raise difficult and complex factual and legal issues and are subject to many uncertainties and complexities , including , but not limited to , the facts and circumstances of each particular case or claim , the jurisdiction in which each suit is brought , and differences in applicable law .upon resolution of any pending legal matters , edwards lifesciences may incur charges in excess of presently established reserves .while any such charge could have a material adverse impact on edwards lifesciences 2019 net income or cash flows in the period in which it is recorded or paid , management does not believe that any such charge would have a material adverse effect on edwards lifesciences 2019 financial position , results of operations or liquidity .edwards lifesciences is also subject to various environmental laws and regulations both within and outside of the united states .the operations of edwards lifesciences , like those of other medical device companies , involve the use of substances regulated under environmental laws , primarily in manufacturing and sterilization processes .while it is difficult to quantify the potential impact of compliance with environmental protection laws .
[['', 'gross net operating loss', 'tax benefit amount', 'carryforward period ends'], ['non-united states net operating loss', '$ 35.3', '$ 9.2', '2005 20132014'], ['non-united states net operating loss', '29.3', '13.9', 'indefinite'], ['total', '$ 64.6', '$ 23.1', '']]
edwards lifesciences corporation notes to consolidated financial statements 2014 ( continued ) as of december 31 , 2004 , the company has approximately $ 64.6 million of non-united states tax net operating losses and $ 1.0 million of non-united states , non-expiring tax credits that are available for carryforward .net operating loss carryforwards , and the related carryforward periods , at december 31 , 2004 are summarized as follows ( in millions ) : gross net tax benefit carryforward operating loss amount period ends non-united states net operating loss****************** $ 35.3 $ 9.2 2005 20132014 non-united states net operating loss****************** 29.3 13.9 indefinite total ******************************************** $ 64.6 $ 23.1 a valuation allowance of $ 6.8 million has been provided for certain of the above carryforwards .this valuation allowance reduces the deferred tax asset of $ 23.1 million to an amount that is more likely than not to be realized .the company 2019s income tax returns in several locations are being examined by the local taxation authorities .management believes that adequate amounts of tax and related interest , if any , have been provided for any adjustments that may result from these examinations .17 .legal proceedings on june 29 , 2000 , edwards lifesciences filed a lawsuit against st .jude medical , inc .alleging infringement of several edwards lifesciences united states patents .this lawsuit was filed in the united states district court for the central district of california , seeking monetary damages and injunctive relief .pursuant to the terms of a january 7 , 2005 settlement agreement , edwards lifesciences was paid $ 5.5 million by st .jude , edwards lifesciences granted st .jude a paid-up license for certain of its heart valve therapy products and the lawsuit was dismissed .the settlement will not have a material financial impact on the company .on august 18 , 2003 , edwards lifesciences filed a lawsuit against medtronic , inc. , medtronic ave , cook , inc .and w.l .gore & associates alleging infringement of a patent exclusively licensed to the company .the lawsuit was filed in the united states district court for the northern district of california , seeking monetary damages and injunctive relief .on september 2 , 2003 , a second patent exclusively licensed to the company was added to the lawsuit .each of the defendants has answered and asserted various affirmative defenses and counterclaims .discovery is proceeding .in addition , edwards lifesciences is or may be a party to , or may be otherwise responsible for , pending or threatened lawsuits related primarily to products and services currently or formerly manufactured or performed , as applicable , by edwards lifesciences .such cases and claims raise difficult and complex factual and legal issues and are subject to many uncertainties and complexities , including , but not limited to , the facts and circumstances of each particular case or claim , the jurisdiction in which each suit is brought , and differences in applicable law .upon resolution of any pending legal matters , edwards lifesciences may incur charges in excess of presently established reserves .while any such charge could have a material adverse impact on edwards lifesciences 2019 net income or cash flows in the period in which it is recorded or paid , management does not believe that any such charge would have a material adverse effect on edwards lifesciences 2019 financial position , results of operations or liquidity .edwards lifesciences is also subject to various environmental laws and regulations both within and outside of the united states .the operations of edwards lifesciences , like those of other medical device companies , involve the use of substances regulated under environmental laws , primarily in manufacturing and sterilization processes .while it is difficult to quantify the potential impact of compliance with environmental protection laws .
|
what is the percentage of the tax benefit compared to the gross net operating loss for the non-united states net operating loss from 2005 -2014?
|
26%
|
{
"answer": "26%",
"decimal": 0.26,
"type": "percentage"
}
| |
notes to consolidated financial statements the amortized cost and fair value of fixed maturities by contractual maturity as of december 31 , 2007 , are as follows : amortized fair ( millions ) cost value .
[['( millions )', 'amortizedcost', 'fairvalue'], ['due in one year or less', '$ 50', '$ 50'], ['due after one year through five years', '52', '52'], ['due after five years through ten years', '47', '47'], ['due after ten years', '1', '1'], ['total fixed maturities', '$ 150', '$ 150']]
expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties .for categorization purposes , aon considers any rating of baa or higher by moody 2019s investor services or equivalent rating agency to be investment grade .aon 2019s continuing operations have no fixed maturities with an unrealized loss at december 31 , 2007 .aon 2019s fixed-maturity portfolio is subject to interest rate , market and credit risks .with a carrying value of approximately $ 150 million at december 31 , 2007 , aon 2019s total fixed-maturity portfolio is approximately 96% ( 96 % ) investment grade based on market value .aon 2019s non publicly-traded fixed maturity portfolio had a carrying value of $ 9 million .valuations of these securities primarily reflect the fundamental analysis of the issuer and current market price of comparable securities .aon 2019s equity portfolio is comprised of a preferred stock not publicly traded .this portfolio is subject to interest rate , market , credit , illiquidity , concentration and operational performance risks .limited partnership securitization .in 2001 , aon sold the vast majority of its limited partnership ( lp ) portfolio , valued at $ 450 million , to peps i , a qspe .the common stock interest in peps i is held by a limited liability company which is owned by aon ( 49% ( 49 % ) ) and by a charitable trust , which is not controlled by aon , established for victims of september 11 ( 51% ( 51 % ) ) .approximately $ 171 million of investment grade fixed-maturity securities were sold by peps i to unaffiliated third parties .peps i then paid aon 2019s insurance underwriting subsidiaries the $ 171 million in cash and issued to them an additional $ 279 million in fixed-maturity and preferred stock securities .as part of this transaction , aon is required to purchase from peps i additional fixed-maturity securities in an amount equal to the unfunded limited partnership commitments , as they are requested .aon funded $ 2 million of commitments in both 2007 and 2006 .as of december 31 , 2007 , these unfunded commitments amounted to $ 44 million .these commitments have specific expiration dates and the general partners may decide not to draw on these commitments .the carrying value of the peps i preferred stock was $ 168 million and $ 210 million at december 31 , 2007 and 2006 , respectively .prior to 2007 , income distributions received from peps i were limited to interest payments on various peps i debt instruments .beginning in 2007 , peps i had redeemed or collateralized all of its debt , and as a result , began to pay preferred income distributions .in 2007 , the company received $ 61 million of income distributions from peps i , which are included in investment income .aon corporation .
|
after selling the its lp portfolio to peps i , what is the value of lp is still owned by aon indirectly , ( in millions ) ?
|
220.5
|
{
"answer": "220.5",
"decimal": 220.5,
"type": "float"
}
| |
stock performance graph the following graph compares the most recent five-year performance of the company 2019s common stock with ( 1 ) the standard & poor 2019s ( s&p ) 500 ae index , ( 2 ) the s&p 500 ae materials index , a group of 25 companies categorized by standard & poor 2019s as active in the 201cmaterials 201d market sector , ( 3 ) the s&p aerospace & defense select industry index , a group of 33 companies categorized by standard & poor 2019s as active in the 201caerospace & defense 201d industry and ( 4 ) the s&p 500 ae industrials index , a group of 69 companies categorized by standard & poor 2019s as active in the 201cindustrials 201d market sector .the graph assumes , in each case , an initial investment of $ 100 on december 31 , 2013 , and the reinvestment of dividends .historical prices prior to the separation of alcoa corporation from the company on november 1 , 2016 , have been adjusted to reflect the value of the separation transaction .the graph , table and related information shall not be deemed to be 201cfiled 201d with the sec , nor shall such information be incorporated by reference into future filings under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates it by reference into such filing .please note that the company intends to replace the s&p 500 ae materials index with the s&p aerospace & defense select industry index and the s&p 500 ae industrials index in subsequent stock performance graphs .we believe that the companies and industries represented in the s&p aerospace & defense select industry index and the s&p 500 ae industrials index better reflect the markets in which the company currently participates .all three indices are represented in the graph below .arconic inc .s&p 500 s&p materials s&p aerospace & defense s&p industrials cumulative total return based upon an initial investment of $ 100 at december 31 , 2013 with dividends reinvested 12/13 12/14 12/15 12/16 12/17 12/18 period ending copyright a9 2019 standard & poor's , a division of s&p global .all rights reserved. .
[['as of december 31,', '2013', '2014', '2015', '2016', '2017', '2018'], ['arconic inc .', '$ 100', '$ 149.83', '$ 94.62', '$ 80.22', '$ 119.02', '$ 74.47'], ['s&p 500 aeindex', '100', '113.69', '115.26', '129.05', '157.22', '150.33'], ['s&p 500 aematerials index', '100', '106.91', '97.95', '114.30', '141.55', '120.74'], ['s&p aerospace & defense select industry index', '100', '111.43', '117.49', '139.70', '197.50', '181.56'], ['s&p 500 aeindustrials index', '100', '109.83', '107.04', '127.23', '153.99', '133.53']]
s&p 500 ae index 100 113.69 115.26 129.05 157.22 150.33 s&p 500 ae materials index 100 106.91 97.95 114.30 141.55 120.74 s&p aerospace & defense select industry index 100 111.43 117.49 139.70 197.50 181.56 s&p 500 ae industrials index 100 109.83 107.04 127.23 153.99 133.53 .
|
considering one year of investment , what is the variation between the return provided by arconic inc . and the one provided by s&p 500 aeindustrials index?
|
40%
|
{
"answer": "40%",
"decimal": 0.4,
"type": "percentage"
}
|
it is the difference between the percentage of return of the initial $ 100 in both indices .
|
issuer purchases of equity securities the following table provides information about purchases by us during the three months ended december 31 , 2013 of equity securities that are registered by us pursuant to section 12 of the exchange act : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs ( 1 ) ( 2 ) dollar value of shares that may yet be purchased under the plans or programs ( 1 ) .
[['period', 'total number of shares purchased ( 1 )', 'average price paid per share', 'total number of shares purchased as part of publicly announcedplans or programs ( 1 ) ( 2 )', 'dollar value of shares that may yet be purchased under the plans orprograms ( 1 )'], ['october 2013', '0', '$ 0', '0', '$ 781118739'], ['november 2013', '1191867', '98.18', '1191867', '664123417'], ['december 2013', '802930', '104.10', '802930', '580555202'], ['total', '1994797', '$ 100.56', '1994797', '']]
( 1 ) as announced on may 1 , 2013 , in april 2013 , the board of directors replaced its previously approved share repurchase authorization of up to $ 1 billion with a current authorization for repurchases of up to $ 1 billion of our common shares exclusive of shares repurchased in connection with employee stock plans , expiring on june 30 , 2015 .under the current share repurchase authorization , shares may be purchased from time to time at prevailing prices in the open market , by block purchases , or in privately-negotiated transactions , subject to certain regulatory restrictions on volume , pricing , and timing .as of february 1 , 2014 , the remaining authorized amount under the current authorization totaled approximately $ 580 million .( 2 ) excludes 0.1 million shares repurchased in connection with employee stock plans. .
|
what is the percentual increase observed in the average price paid per share during november and december of 2013?
|
6.03%
|
{
"answer": "6.03%",
"decimal": 0.0603,
"type": "percentage"
}
|
it is the average price paid per share during december divided by november's one , then transformed into a percentage .
|
page 62 of 94 notes to consolidated financial statements ball corporation and subsidiaries 14 .taxes on income ( continued ) at december 31 , 2007 , ball corporation and its domestic subsidiaries had net operating loss carryforwards , expiring between 2020 and 2026 , of $ 64.6 million with a related tax benefit of $ 25.2 million .also at december 31 , 2007 , ball packaging europe and its subsidiaries had net operating loss carryforwards , with no expiration date , of $ 54.4 million with a related tax benefit of $ 14.6 million .ball packaging products canada corp .had a net operating loss carryforward , with no expiration date , of $ 15.8 million with a related tax benefit of $ 5.4 million .due to the uncertainty of ultimate realization , these european and canadian benefits have been offset by valuation allowances of $ 8.6 million and $ 5.4 million , respectively .upon realization , $ 5.3 million of the european valuation allowance will be recognized as a reduction in goodwill .at december 31 , 2007 , the company has foreign tax credit carryforwards of $ 5.8 million ; however , due to the uncertainty of realization of the entire credit , a valuation allowance of $ 3.8 million has been applied to reduce the carrying value to $ 2 million .effective january 1 , 2007 , ball adopted fin no .48 , 201caccounting for uncertainty in income taxes . 201d as of the date of adoption , the accrual for uncertain tax position was $ 45.8 million , and the cumulative effect of the adoption was an increase in the reserve for uncertain tax positions of $ 2.1 million .the accrual includes an $ 11.4 million reduction in opening retained earnings and a $ 9.3 million reduction in goodwill .a reconciliation of the unrecognized tax benefits follows : ( $ in millions ) as adjusted for accounting change .
[['( $ in millions )', 'as adjusted for accounting change'], ['balance at january 1 2007', '$ 45.8'], ['additions based on tax positions related to the current year', '3.9'], ['additions for tax positions of prior years', '7.6'], ['reductions for settlements', '-18.4 ( 18.4 )'], ['effect of foreign currency exchange rates', '2.2'], ['balance at december 31 2007', '$ 41.1'], ['balance sheet classification:', ''], ['income taxes payable', '$ 4.2'], ['deferred taxes and other liabilities', '36.9'], ['total', '$ 41.1']]
the amount of unrecognized tax benefits at december 31 , 2007 , that , if recognized , would reduce tax expense is $ 35.9 million .at this time there are no positions where the unrecognized tax benefit is expected to increase or decrease significantly within the next 12 months .u.s .federal and state income tax returns filed for the years 2000- 2006 are open for audit , with an effective settlement of the federal returns through 2004 .the income tax returns filed in europe for the years 2002 through 2006 are also open for audit .the company 2019s significant filings in europe are in germany , france , the netherlands , poland , serbia and the united kingdom .the company recognizes the accrual of interest and penalties related to unrecognized tax benefits in income tax expense .during the year ended december 31 , 2007 , ball recognized approximately $ 2.7 million of interest expense .the accrual for uncertain tax positions at december 31 , 2007 , includes approximately $ 5.1 million representing potential interest expense .no penalties have been accrued .the 2007 provision for income taxes included an $ 11.5 million accrual under fin no .48 .the majority of this provision was related to the effective settlement during the third quarter of 2007 with the internal revenue service for interest deductions on incurred loans from a company-owned life insurance plan .the total accrual at december 31 , 2007 , for the effective settlement of the applicable prior years 2000-2004 under examination , and unaudited years 2005 through 2007 , was $ 18.4 million , including estimated interest .the settlement resulted in a majority of the interest deductions being sustained with prospective application that results in no significant impact to future earnings per share or cash flows. .
|
what percentage of total unrecognized tax benefits as of december 31 , 2007 is comprised of deferred taxes and other liabilities?
|
90%
|
{
"answer": "90%",
"decimal": 0.9,
"type": "percentage"
}
| |
management 2019s discussion and analysis of financial condition and results of operations in 2008 , asp was flat compared to 2007 .by comparison , asp decreased approximately 9% ( 9 % ) in 2007 and decreased approximately 11% ( 11 % ) in 2006 .the segment has several large customers located throughout the world .in 2008 , aggregate net sales to the segment 2019s five largest customers accounted for approximately 41% ( 41 % ) of the segment 2019s net sales .besides selling directly to carriers and operators , the segment also sells products through a variety of third-party distributors and retailers , which accounted for approximately 24% ( 24 % ) of the segment 2019s net sales in 2008 .although the u.s .market continued to be the segment 2019s largest individual market , many of our customers , and 56% ( 56 % ) of the segment 2019s 2008 net sales , were outside the u.s .in 2008 , the largest of these international markets were brazil , china and mexico .as the segment 2019s revenue transactions are largely denominated in local currencies , we are impacted by the weakening in the value of these local currencies against the u.s .dollar .a number of our more significant international markets , particularly in latin america , were impacted by this trend in late 2008 .home and networks mobility segment the home and networks mobility segment designs , manufactures , sells , installs and services : ( i ) digital video , internet protocol video and broadcast network interactive set-tops , end-to-end video distribution systems , broadband access infrastructure platforms , and associated data and voice customer premise equipment to cable television and telecom service providers ( collectively , referred to as the 2018 2018home business 2019 2019 ) , and ( ii ) wireless access systems , including cellular infrastructure systems and wireless broadband systems , to wireless service providers ( collectively , referred to as the 2018 2018network business 2019 2019 ) .in 2009 , the segment 2019s net sales represented 36% ( 36 % ) of the company 2019s consolidated net sales , compared to 33% ( 33 % ) in 2008 and 27% ( 27 % ) in 2007 .years ended december 31 percent change ( dollars in millions ) 2009 2008 2007 2009 20142008 2008 20142007 .
[['( dollars in millions )', 'years ended december 31 2009', 'years ended december 31 2008', 'years ended december 31 2007', 'years ended december 31 2009 20142008', '2008 20142007'], ['segment net sales', '$ 7963', '$ 10086', '$ 10014', '( 21 ) % ( % )', '1% ( 1 % )'], ['operating earnings', '558', '918', '709', '( 39 ) % ( % )', '29% ( 29 % )']]
segment results 20142009 compared to 2008 in 2009 , the segment 2019s net sales were $ 8.0 billion , a decrease of 21% ( 21 % ) compared to net sales of $ 10.1 billion in 2008 .the 21% ( 21 % ) decrease in net sales reflects a 22% ( 22 % ) decrease in net sales in the networks business and a 21% ( 21 % ) decrease in net sales in the home business .the 22% ( 22 % ) decrease in net sales in the networks business was primarily driven by lower net sales of gsm , cdma , umts and iden infrastructure equipment , partially offset by higher net sales of wimax products .the 21% ( 21 % ) decrease in net sales in the home business was primarily driven by a 24% ( 24 % ) decrease in net sales of digital entertainment devices , reflecting : ( i ) an 18% ( 18 % ) decrease in shipments of digital entertainment devices , primarily due to lower shipments to large cable and telecommunications operators in north america as a result of macroeconomic conditions , and ( ii ) a lower asp due to an unfavorable shift in product mix .the segment shipped 14.7 million digital entertainment devices in 2009 , compared to 18.0 million shipped in 2008 .on a geographic basis , the 21% ( 21 % ) decrease in net sales was driven by lower net sales in all regions .the decrease in net sales in north america was primarily due to : ( i ) lower net sales in the home business , and ( ii ) lower net sales of cdma and iden infrastructure equipment , partially offset by higher net sales of wimax products .the decrease in net sales in emea was primarily due to lower net sales of gsm infrastructure equipment , partially offset by higher net sales of wimax products and higher net sales in the home business .the decrease in net sales in asia was primarily driven by lower net sales of gsm , umts and cdma infrastructure equipment , partially offset by higher net sales in the home business .the decrease in net sales in latin america was primarily due to : ( i ) lower net sales in the home business , and ( ii ) lower net sales of iden infrastructure equipment , partially offset by higher net sales of wimax products .net sales in north america accounted for approximately 51% ( 51 % ) of the segment 2019s total net sales in 2009 , compared to approximately 50% ( 50 % ) of the segment 2019s total net sales in 2008. .
|
what was the average segment net sales from 2007 to 2009 in millions
|
9354.3
|
{
"answer": "9354.3",
"decimal": 9354.3,
"type": "float"
}
| |
indemnification and repurchase claims are typically settled on an individual loan basis through make-whole payments or loan repurchases ; however , on occasion we may negotiate pooled settlements with investors .in connection with pooled settlements , we typically do not repurchase loans and the consummation of such transactions generally results in us no longer having indemnification and repurchase exposure with the investor in the transaction .for the first and second-lien mortgage balances of unresolved and settled claims contained in the tables below , a significant amount of these claims were associated with sold loans originated through correspondent lender and broker origination channels .in certain instances when indemnification or repurchase claims are settled for these types of sold loans , we have recourse back to the correspondent lenders , brokers and other third-parties ( e.g. , contract underwriting companies , closing agents , appraisers , etc. ) .depending on the underlying reason for the investor claim , we determine our ability to pursue recourse with these parties and file claims with them accordingly .our historical recourse recovery rate has been insignificant as our efforts have been impacted by the inability of such parties to reimburse us for their recourse obligations ( e.g. , their capital availability or whether they remain in business ) or factors that limit our ability to pursue recourse from these parties ( e.g. , contractual loss caps , statutes of limitations ) .origination and sale of residential mortgages is an ongoing business activity , and , accordingly , management continually assesses the need to recognize indemnification and repurchase liabilities pursuant to the associated investor sale agreements .we establish indemnification and repurchase liabilities for estimated losses on sold first and second-lien mortgages for which indemnification is expected to be provided or for loans that are expected to be repurchased .for the first and second- lien mortgage sold portfolio , we have established an indemnification and repurchase liability pursuant to investor sale agreements based on claims made , demand patterns observed to date and/or expected in the future , and our estimate of future claims on a loan by loan basis .to estimate the mortgage repurchase liability arising from breaches of representations and warranties , we consider the following factors : ( i ) borrower performance in our historically sold portfolio ( both actual and estimated future defaults ) , ( ii ) the level of outstanding unresolved repurchase claims , ( iii ) estimated probable future repurchase claims , considering information about file requests , delinquent and liquidated loans , resolved and unresolved mortgage insurance rescission notices and our historical experience with claim rescissions , ( iv ) the potential ability to cure the defects identified in the repurchase claims ( 201crescission rate 201d ) , and ( v ) the estimated severity of loss upon repurchase of the loan or collateral , make-whole settlement , or indemnification .see note 24 commitments and guarantees in the notes to consolidated financial statements in item 8 of this report for additional information .the following tables present the unpaid principal balance of repurchase claims by vintage and total unresolved repurchase claims for the past five quarters .table 28 : analysis of quarterly residential mortgage repurchase claims by vintage dollars in millions december 31 september 30 june 30 march 31 december 31 .
[['dollars in millions', 'december 31 2012', 'september 30 2012', 'june 30 2012', 'march 31 2012', 'december 312011'], ['2004 & prior', '$ 11', '$ 15', '$ 31', '$ 10', '$ 11'], ['2005', '8', '10', '19', '12', '13'], ['2006', '23', '30', '56', '41', '28'], ['2007', '45', '137', '182', '100', '90'], ['2008', '7', '23', '49', '17', '18'], ['2008 & prior', '94', '215', '337', '180', '160'], ['2009 2013 2012', '38', '52', '42', '33', '29'], ['total', '$ 132', '$ 267', '$ 379', '$ 213', '$ 189'], ['fnma fhlmc and gnma % ( % )', '94% ( 94 % )', '87% ( 87 % )', '86% ( 86 % )', '88% ( 88 % )', '91% ( 91 % )']]
the pnc financial services group , inc .2013 form 10-k 79 .
|
how much in combined repurchase claims , in millions , were recorded in the first quarter of 2005 , 2006 , 2007 , 2008?
|
170
|
{
"answer": "170",
"decimal": 170,
"type": "float"
}
| |
note 17 .accumulated other comprehensive losses : pmi's accumulated other comprehensive losses , net of taxes , consisted of the following: .
[['( losses ) earnings ( in millions )', '( losses ) earnings 2017', '( losses ) earnings 2016', '2015'], ['currency translation adjustments', '$ -5761 ( 5761 )', '$ -6091 ( 6091 )', '$ -6129 ( 6129 )'], ['pension and other benefits', '-2816 ( 2816 )', '-3565 ( 3565 )', '-3332 ( 3332 )'], ['derivatives accounted for as hedges', '42', '97', '59'], ['total accumulated other comprehensive losses', '$ -8535 ( 8535 )', '$ -9559 ( 9559 )', '$ -9402 ( 9402 )']]
reclassifications from other comprehensive earnings the movements in accumulated other comprehensive losses and the related tax impact , for each of the components above , that are due to current period activity and reclassifications to the income statement are shown on the consolidated statements of comprehensive earnings for the years ended december 31 , 2017 , 2016 , and 2015 .for the years ended december 31 , 2017 , 2016 , and 2015 , $ 2 million , $ ( 5 ) million and $ 1 million of net currency translation adjustment gains/ ( losses ) were transferred from other comprehensive earnings to marketing , administration and research costs in the consolidated statements of earnings , respectively , upon liquidation of subsidiaries .for additional information , see note 13 .benefit plans and note 15 .financial instruments for disclosures related to pmi's pension and other benefits and derivative financial instruments .note 18 .contingencies : tobacco-related litigation legal proceedings covering a wide range of matters are pending or threatened against us , and/or our subsidiaries , and/or our indemnitees in various jurisdictions .our indemnitees include distributors , licensees and others that have been named as parties in certain cases and that we have agreed to defend , as well as to pay costs and some or all of judgments , if any , that may be entered against them .pursuant to the terms of the distribution agreement between altria group , inc .( "altria" ) and pmi , pmi will indemnify altria and philip morris usa inc .( "pm usa" ) , a u.s .tobacco subsidiary of altria , for tobacco product claims based in substantial part on products manufactured by pmi or contract manufactured for pmi by pm usa , and pm usa will indemnify pmi for tobacco product claims based in substantial part on products manufactured by pm usa , excluding tobacco products contract manufactured for pmi .it is possible that there could be adverse developments in pending cases against us and our subsidiaries .an unfavorable outcome or settlement of pending tobacco-related litigation could encourage the commencement of additional litigation .damages claimed in some of the tobacco-related litigation are significant and , in certain cases in brazil , canada and nigeria , range into the billions of u.s .dollars .the variability in pleadings in multiple jurisdictions , together with the actual experience of management in litigating claims , demonstrate that the monetary relief that may be specified in a lawsuit bears little relevance to the ultimate outcome .much of the tobacco-related litigation is in its early stages , and litigation is subject to uncertainty .however , as discussed below , we have to date been largely successful in defending tobacco-related litigation .we and our subsidiaries record provisions in the consolidated financial statements for pending litigation when we determine that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated .at the present time , while it is reasonably possible that an unfavorable outcome in a case may occur , after assessing the information available to it ( i ) management has not concluded that it is probable that a loss has been incurred in any of the pending tobacco-related cases ; ( ii ) management is unable to estimate the possible loss or range of loss for any of the pending tobacco-related cases ; and ( iii ) accordingly , no estimated loss has been accrued in the consolidated financial statements for unfavorable outcomes in these cases , if any .legal defense costs are expensed as incurred. .
|
what was the change in millions of total accumulated other comprehensive losses from 2015 to 2016?
|
-157
|
{
"answer": "-157",
"decimal": -157,
"type": "float"
}
| |
note 6 2014mergers and acquisitions eldertrust merger on february 5 , 2004 , the company consummated a merger transaction in an all cash transaction valued at $ 184 million ( the 201celdertrust transaction 201d ) .the eldertrust transaction adds nine assisted living facilities , one independent living facility , five skilled nursing facilities , two med- ical office buildings and a financial office building ( the 201celdertrust properties 201d ) to the company 2019s portfolio.the eldertrust properties are leased by the company to various operators under leases providing for aggregated , annual cash base rent of approxi- mately $ 16.2 million , subject to escalation as provided in the leases.the leases have remaining terms primarily ranging from four to 11 years.at the closing of the eldertrust transaction , the company also acquired all of the limited partnership units in eldertrust operating limited partnership ( 201cetop 201d ) directly from their owners at $ 12.50 per unit , excluding 31455 class c units in etop ( which will remain outstanding ) .etop owns directly or indirectly all of the eldertrust properties .the company funded the $ 101 million equity portion of the purchase price with cash on eldertrust 2019s balance sheet , a portion of the $ 85 million in proceeds from its december 2003 sale of ten facilities to kindred and draws on the company 2019s revolving credit facility ( the 201crevolving credit facility 201d ) under its second amended and restated security and guaranty agreement , dated as of april 17 , 2002 ( the 201c2002 credit agreement 201d ) .the company 2019s ownership of the eldertrust properties is subject to approximately $ 83 million of property level debt and other liabilities.at the close of the eldertrust transaction , eldertrust had approximately $ 33.5 million in unrestricted and restricted cash on hand .the acquisition was accounted for under the purchase method .the following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of acquisition .such estimates are subject to refinement as additional valuation information is received .operations from this merger will be reflected in the company 2019s consolidated financial state- ments for periods subsequent to the acquisition date of february 5 , 2004.the company is in the process of computing fair values , thus , the allocation of the purchase price is subject to refinement. .
[['', '( in millions )'], ['real estate investments', '$ 162'], ['cash and cash equivalents', '28'], ['other assets', '5'], ['total assets acquired', '$ 195'], ['notes payable and other debt', '83'], ['accounts payable and other accrued liabilities', '2'], ['total liabilities assumed', '85'], ['net assets acquired', '$ 110']]
transaction with brookdale on january 29 , 2004 , the company entered into 14 definitive purchase agreements ( each , a 201cbrookdale purchase agreement 201d ) with certain affiliates of brookdale living communities , inc .( 201cbrookdale 201d ) to purchase ( each such purchase , a 201cbrookdale acquisition 201d ) a total of 14 independent living or assisted living facilities ( each , a 201cbrookdale facility 201d ) for an aggregate purchase price of $ 115 million.affiliates of brookdale have agreed to lease and operate the brookdale facilities pursuant to one or more triple-net leases.all of the brookdale leases , which have an initial term of 15 years , will be guaranteed by brookdale and provide for aggregated annual base rent of approximately $ 10 million , escalating each year by the greater of ( i ) 1.5% ( 1.5 % ) or ( ii ) 75% ( 75 % ) of the consumer price index .the company expects to fund the brookdale acquisitions by assuming an aggregate of approximately $ 41 million of non- recourse property level debt on certain of the brookdale facilities , with the balance to be paid from cash on hand and/or draws on the revolving credit facility.the property level debt encumbers seven of the brookdale facilities .on january 29 , 2004 , the company completed the acquisitions of four brookdale facilities for an aggregate purchase price of $ 37 million.the company 2019s acquisition of the remaining ten brookdale facilities is expected to be completed shortly , subject to customary closing conditions .however , the consummation of each such brookdale acquisition is not conditioned upon the consummation of any other such brookdale acquisition and there can be no assurance which , if any , of such remaining brookdale acquisitions will be consummated or when they will be consummated .transactions with trans healthcare , inc .on november 4 , 2002 , the company , through its wholly owned subsidiary ventas realty , completed a $ 120.0 million transaction ( the 201cthi transaction 201d ) with trans healthcare , inc. , a privately owned long-term care and hospital company ( 201cthi 201d ) .the thi transaction was structured as a $ 53.0 million sale leaseback trans- action ( the 201cthi sale leaseback 201d ) and a $ 67.0 million loan ( the 201cthi loan 201d ) , comprised of a first mortgage loan ( the 201cthi senior loan 201d ) and a mezzanine loan ( the 201cthi mezzanine loan 201d ) .following a sale of the thi senior loan in december 2002 ( see below ) , the company 2019s investment in thi was $ 70.0 million .as part of the thi sale leasebackventas realty purchased 5 properties and is leasing them back to thi under a 201ctriple-net 201d master lease ( the 201cthi master lease 201d ) .the properties subject to the sale leaseback are four skilled nursing facilities and one con- tinuing care retirement community.the thi master lease , which has an initial term of ten years , provides for annual base rent of $ 5.9 million.the thi master lease provides that if thi meets specified revenue parameters , annual base rent will escalate each year by the greater of ( i ) three percent or ( ii ) 50% ( 50 % ) of the consumer price index .ventas , inc .page 37 annual report 2003 .
|
what percentage of total assets acquired were real estate investments?
|
83.1%
|
{
"answer": "83.1%",
"decimal": 0.831,
"type": "percentage"
}
| |
guarantees we adopted fasb interpretation no .45 ( 201cfin 45 201d ) , 201cguarantor 2019s accounting and disclosure requirements for guarantees , including indirect guarantees of indebtedness of others 201d at the beginning of our fiscal 2003 .see 201crecent accounting pronouncements 201d for further information regarding fin 45 .the lease agreements for our three office buildings in san jose , california provide for residual value guarantees .these lease agreements were in place prior to december 31 , 2002 and are disclosed in note 14 .in the normal course of business , we provide indemnifications of varying scope to customers against claims of intellectual property infringement made by third parties arising from the use of our products .historically , costs related to these indemnification provisions have not been significant and we are unable to estimate the maximum potential impact of these indemnification provisions on our future results of operations .we have commitments to make certain milestone and/or retention payments typically entered into in conjunction with various acquisitions , for which we have made accruals in our consolidated financial statements .in connection with our purchases of technology assets during fiscal 2003 , we entered into employee retention agreements totaling $ 2.2 million .we are required to make payments upon satisfaction of certain conditions in the agreements .as permitted under delaware law , we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is , or was serving , at our request in such capacity .the indemnification period covers all pertinent events and occurrences during the officer 2019s or director 2019s lifetime .the maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited ; however , we have director and officer insurance coverage that limits our exposure and enables us to recover a portion of any future amounts paid .we believe the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal .as part of our limited partnership interests in adobe ventures , we have provided a general indemnification to granite ventures , an independent venture capital firm and sole general partner of adobe ventures , for certain events or occurrences while granite ventures is , or was serving , at our request in such capacity provided that granite ventures acts in good faith on behalf of the partnerships .we are unable to develop an estimate of the maximum potential amount of future payments that could potentially result from any hypothetical future claim , but believe the risk of having to make any payments under this general indemnification to be remote .we accrue for costs associated with future obligations which include costs for undetected bugs that are discovered only after the product is installed and used by customers .the accrual remaining at the end of fiscal 2003 primarily relates to new releases of our creative suites products during the fourth quarter of fiscal 2003 .the table below summarizes the activity related to the accrual during fiscal 2003 : balance at november 29 , 2002 accruals payments balance at november 28 , 2003 .
[['balance at november 29 2002', 'accruals', 'payments', 'balance at november 28 2003'], ['$ 2014', '$ 5554', '$ -2369 ( 2369 )', '$ 3185']]
advertising expenses we expense all advertising costs as incurred and classify these costs under sales and marketing expense .advertising expenses for fiscal years 2003 , 2002 , and 2001 were $ 24.0 million , $ 26.7 million and $ 30.5 million , respectively .foreign currency and other hedging instruments statement of financial accounting standards no .133 ( 201csfas no .133 201d ) , 201caccounting for derivative instruments and hedging activities , 201d establishes accounting and reporting standards for derivative instruments and hedging activities and requires us to recognize these as either assets or liabilities on the balance sheet and measure them at fair value .as described in note 15 , gains and losses resulting from .
|
what is the growth rate in advertising expense in 2003 relative to 2002?
|
-10.1%
|
{
"answer": "-10.1%",
"decimal": -0.10099999999999999,
"type": "percentage"
}
| |
customary conditions .we will retain a 20% ( 20 % ) equity interest in the joint venture .as of december 31 , 2008 , the joint venture has acquired seven properties from us and we received year-to-date net sale proceeds and financing distributions of approximately $ 251.6 million .in january 2008 , we sold a tract of land to an unconsolidated joint venture in which we hold a 50% ( 50 % ) equity interest and received a distribution , commensurate to our partner 2019s 50% ( 50 % ) ownership interest , of approximately $ 38.3 million .in november 2008 , that unconsolidated joint venture entered a loan agreement with a consortium of banks and distributed a portion of the loan proceeds to us and our partner , with our share of the distribution totaling $ 20.4 million .uses of liquidity our principal uses of liquidity include the following : 2022 property investment ; 2022 recurring leasing/capital costs ; 2022 dividends and distributions to shareholders and unitholders ; 2022 long-term debt maturities ; 2022 opportunistic repurchases of outstanding debt ; 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 disposing of selected properties .in light of current economic conditions , management continues to evaluate our investment priorities and we are limiting new development expenditures .recurring expenditures one of our principal uses of our liquidity is to fund the recurring leasing/capital expenditures of our real estate investments .the following is a summary of our recurring capital expenditures for the years ended december 31 , 2008 , 2007 and 2006 , respectively ( in thousands ) : .
[['', '2008', '2007', '2006'], ['recurring tenant improvements', '$ 36885', '$ 45296', '$ 41895'], ['recurring leasing costs', '28205', '32238', '32983'], ['building improvements', '9724', '8402', '8122'], ['totals', '$ 74814', '$ 85936', '$ 83000']]
dividends and distributions in order to qualify as a reit for federal income tax purposes , we must currently distribute at least 90% ( 90 % ) of our taxable income to shareholders .because depreciation is a non-cash expense , cash flow will typically be greater than operating income .we paid dividends per share of $ 1.93 , $ 1.91 and $ 1.89 for the years ended december 31 , 2008 , 2007 and 2006 , respectively .we expect to continue to distribute taxable earnings to meet the requirements to maintain our reit status .however , distributions are declared at the discretion of our board of directors and are subject to actual cash available for distribution , our financial condition , capital requirements and such other factors as our board of directors deems relevant . in january 2009 , our board of directors resolved to decrease our annual dividend from $ 1.94 per share to $ 1.00 per share in order to retain additional cash to help meet our capital needs .we anticipate retaining additional cash of approximately $ 145.2 million per year , when compared to an annual dividend of $ 1.94 per share , as the result of this action .at december 31 , 2008 we had six series of preferred shares outstanding .the annual dividend rates on our preferred shares range between 6.5% ( 6.5 % ) and 8.375% ( 8.375 % ) and are paid in arrears quarterly. .
|
what was the average dividend per share from 2006 to 2008 in dollars per share
|
1.91
|
{
"answer": "1.91",
"decimal": 1.91,
"type": "float"
}
| |
note 10 loan sales and securitizations loan sales we sell residential and commercial mortgage loans in loan securitization transactions sponsored by government national mortgage association ( gnma ) , fnma , and fhlmc and in certain instances to other third-party investors .gnma , fnma , and the fhlmc securitize our transferred loans into mortgage-backed securities for sale into the secondary market .generally , we do not retain any interest in the transferred loans other than mortgage servicing rights .refer to note 9 goodwill and other intangible assets for further discussion on our residential and commercial mortgage servicing rights assets .during 2009 , residential and commercial mortgage loans sold totaled $ 19.8 billion and $ 5.7 billion , respectively .during 2008 , commercial mortgage loans sold totaled $ 3.1 billion .there were no residential mortgage loans sales in 2008 as these activities were obtained through our acquisition of national city .our continuing involvement in these loan sales consists primarily of servicing and limited repurchase obligations for loan and servicer breaches in representations and warranties .generally , we hold a cleanup call repurchase option for loans sold with servicing retained to the other third-party investors .in certain circumstances as servicer , we advance principal and interest payments to the gses and other third-party investors and also may make collateral protection advances .our risk of loss in these servicing advances has historically been minimal .we maintain a liability for estimated losses on loans expected to be repurchased as a result of breaches in loan and servicer representations and warranties .we have also entered into recourse arrangements associated with commercial mortgage loans sold to fnma and fhlmc .refer to note 25 commitments and guarantees for further discussion on our repurchase liability and recourse arrangements .our maximum exposure to loss in our loan sale activities is limited to these repurchase and recourse obligations .in addition , for certain loans transferred in the gnma and fnma transactions , we hold an option to repurchase individual delinquent loans that meet certain criteria .without prior authorization from these gses , this option gives pnc the ability to repurchase the delinquent loan at par .under gaap , once we have the unilateral ability to repurchase the delinquent loan , effective control over the loan has been regained and we are required to recognize the loan and a corresponding repurchase liability on the balance sheet regardless of our intent to repurchase the loan .at december 31 , 2009 and december 31 , 2008 , the balance of our repurchase option asset and liability totaled $ 577 million and $ 476 million , respectively .securitizations in securitizations , loans are typically transferred to a qualifying special purpose entity ( qspe ) that is demonstrably distinct from the transferor to transfer the risk from our consolidated balance sheet .a qspe is a bankruptcy-remote trust allowed to perform only certain passive activities .in addition , these entities are self-liquidating and in certain instances are structured as real estate mortgage investment conduits ( remics ) for tax purposes .the qspes are generally financed by issuing certificates for various levels of senior and subordinated tranches .qspes are exempt from consolidation provided certain conditions are met .our securitization activities were primarily obtained through our acquisition of national city .credit card receivables , automobile , and residential mortgage loans were securitized through qspes sponsored by ncb .these qspes were financed primarily through the issuance and sale of beneficial interests to independent third parties and were not consolidated on our balance sheet at december 31 , 2009 or december 31 , 2008 .however , see note 1 accounting policies regarding accounting guidance that impacts the accounting for these qspes effective january 1 , 2010 .qualitative and quantitative information about the securitization qspes and our retained interests in these transactions follow .the following summarizes the assets and liabilities of the securitization qspes associated with securitization transactions that were outstanding at december 31 , 2009. .
[['in millions', 'december 31 2009 credit card', 'december 31 2009 mortgage', 'december 31 2009 credit card', 'mortgage'], ['assets ( a )', '$ 2368', '$ 232', '$ 2129', '$ 319'], ['liabilities', '1622', '232', '1824', '319']]
( a ) represents period-end outstanding principal balances of loans transferred to the securitization qspes .credit card loans at december 31 , 2009 , the credit card securitization series 2005-1 , 2006-1 , 2007-1 , and 2008-3 were outstanding .during the fourth quarter of 2009 , the 2008-1 and 2008-2 credit card securitization series matured .our continuing involvement in the securitized credit card receivables consists primarily of servicing and our holding of certain retained interests .servicing fees earned approximate current market rates for servicing fees ; therefore , no servicing asset or liability is recognized .we hold a clean-up call repurchase option to the extent a securitization series extends past its scheduled note principal payoff date .to the extent this occurs , the clean-up call option is triggered when the principal balance of the asset- backed notes of any series reaches 5% ( 5 % ) of the initial principal balance of the asset-backed notes issued at the securitization .
|
for how much more was the 2009 residential loan sold than the 2008 and 2009 commercial loans combined , in billions?
|
10
|
{
"answer": "10",
"decimal": 10,
"type": "float"
}
| |
business subsequent to the acquisition .the liabilities for these payments are classified as level 3 liabilities because the related fair value measurement , which is determined using an income approach , includes significant inputs not observable in the market .financial assets and liabilities not measured at fair value our debt is reflected on the consolidated balance sheets at cost .based on market conditions as of december 31 , 2018 and 2017 , the fair value of our credit agreement borrowings reasonably approximated the carrying values of $ 1.7 billion and $ 2.0 billion , respectively .in addition , based on market conditions , the fair values of the outstanding borrowings under the receivables facility reasonably approximated the carrying values of $ 110 million and $ 100 million at december 31 , 2018 and december 31 , 2017 , respectively .as of december 31 , 2018 and december 31 , 2017 , the fair values of the u.s .notes ( 2023 ) were approximately $ 574 million and $ 615 million , respectively , compared to a carrying value of $ 600 million at each date .as of december 31 , 2018 and december 31 , 2017 , the fair values of the euro notes ( 2024 ) were approximately $ 586 million and $ 658 million compared to carrying values of $ 573 million and $ 600 million , respectively .as of december 31 , 2018 , the fair value of the euro notes ( 2026/28 ) approximated the carrying value of $ 1.1 billion .the fair value measurements of the borrowings under our credit agreement and receivables facility are classified as level 2 within the fair value hierarchy since they are determined based upon significant inputs observable in the market , including interest rates on recent financing transactions with similar terms and maturities .we estimated the fair value by calculating the upfront cash payment a market participant would require at december 31 , 2018 to assume these obligations .the fair value of our u.s .notes ( 2023 ) is classified as level 1 within the fair value hierarchy since it is determined based upon observable market inputs including quoted market prices in an active market .the fair values of our euro notes ( 2024 ) and euro notes ( 2026/28 ) are determined based upon observable market inputs including quoted market prices in markets that are not active , and therefore are classified as level 2 within the fair value hierarchy .note 13 .commitments and contingencies operating leases we are obligated under noncancelable operating leases for corporate office space , warehouse and distribution facilities , trucks and certain equipment .the future minimum lease commitments under these leases at december 31 , 2018 are as follows ( in thousands ) : years ending december 31: .
[['2019', '$ 294269'], ['2020', '256172'], ['2021', '210632'], ['2022', '158763'], ['2023', '131518'], ['thereafter', '777165'], ['future minimum lease payments', '$ 1828519']]
rental expense for operating leases was approximately $ 300 million , $ 247 million , and $ 212 million during the years ended december 31 , 2018 , 2017 and 2016 , respectively .we guarantee the residual values of the majority of our truck and equipment operating leases .the residual values decline over the lease terms to a defined percentage of original cost .in the event the lessor does not realize the residual value when a piece of equipment is sold , we would be responsible for a portion of the shortfall .similarly , if the lessor realizes more than the residual value when a piece of equipment is sold , we would be paid the amount realized over the residual value .had we terminated all of our operating leases subject to these guarantees at december 31 , 2018 , our portion of the guaranteed residual value would have totaled approximately $ 76 million .we have not recorded a liability for the guaranteed residual value of equipment under operating leases as the recovery on disposition of the equipment under the leases is expected to approximate the guaranteed residual value .litigation and related contingencies we have certain contingencies resulting from litigation , claims and other commitments and are subject to a variety of environmental and pollution control laws and regulations incident to the ordinary course of business .we currently expect that the resolution of such contingencies will not materially affect our financial position , results of operations or cash flows. .
|
what was the percentage change in rental expenses from 2017 to 2018?
|
21%
|
{
"answer": "21%",
"decimal": 0.21,
"type": "percentage"
}
| |
entergy mississippi , inc .management's financial discussion and analysis results of operations net income 2008 compared to 2007 net income decreased $ 12.4 million primarily due to higher other operation and maintenance expenses , lower other income , and higher depreciation and amortization expenses , partially offset by higher net revenue .2007 compared to 2006 net income increased $ 19.8 million primarily due to higher net revenue , lower other operation and maintenance expenses , higher other income , and lower interest expense , partially offset by higher depreciation and amortization expenses .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', '$ 486.9'], ['attala costs', '9.9'], ['rider revenue', '6.0'], ['base revenue', '5.1'], ['reserve equalization', '-2.4 ( 2.4 )'], ['net wholesale revenue', '-4.0 ( 4.0 )'], ['other', '-2.7 ( 2.7 )'], ['2008 net revenue', '$ 498.8']]
the attala costs variance is primarily due to an increase in the attala power plant costs that are recovered through the power management rider .the net income effect of this recovery in limited to a portion representing an allowed return on equity with the remainder offset by attala power plant costs in other operation and maintenance expenses , depreciation expenses , and taxes other than income taxes .the recovery of attala power plant costs is discussed further in "liquidity and capital resources - uses of capital" below .the rider revenue variance is the result of a storm damage rider that became effective in october 2007 .the establishment of this rider results in an increase in rider revenue and a corresponding increase in other operation and maintenance expense for the storm reserve with no effect on net income .the base revenue variance is primarily due to a formula rate plan increase effective july 2007 .the formula rate plan filing is discussed further in "state and local rate regulation" below .the reserve equalization variance is primarily due to changes in the entergy system generation mix compared to the same period in 2007. .
|
what percent of the change in net revenue was due to rider revenue?
|
50.4%
|
{
"answer": "50.4%",
"decimal": 0.504,
"type": "percentage"
}
| |
analog devices , inc .notes to consolidated financial statements 2014 ( continued ) the total intrinsic value of options exercised ( i.e .the difference between the market price at exercise and the price paid by the employee to exercise the options ) during fiscal 2016 , 2015 and 2014 was $ 46.6 million , $ 99.2 million and $ 130.6 million , respectively , and the total amount of proceeds received by the company from exercise of these options during fiscal 2016 , 2015 and 2014 was $ 61.5 million , $ 122.6 million and $ 200.1 million , respectively .a summary of the company 2019s restricted stock unit award activity as of october 29 , 2016 and changes during the fiscal year then ended is presented below : restricted stock units outstanding ( in thousands ) weighted- average grant- date fair value per share .
[['', 'restrictedstock unitsoutstanding ( in thousands )', 'weighted-average grant-date fair valueper share'], ['restricted stock units outstanding at october 31 2015', '2698', '$ 47.59'], ['units granted', '1099', '$ 51.59'], ['restrictions lapsed', '-905 ( 905 )', '$ 44.30'], ['forfeited', '-202 ( 202 )', '$ 50.34'], ['restricted stock units outstanding at october 29 2016', '2690', '$ 50.11']]
as of october 29 , 2016 , there was $ 112.3 million of total unrecognized compensation cost related to unvested share- based awards comprised of stock options and restricted stock units .that cost is expected to be recognized over a weighted- average period of 1.4 years .the total grant-date fair value of shares that vested during fiscal 2016 , 2015 and 2014 was approximately $ 62.8 million , $ 65.6 million and $ 57.4 million , respectively .common stock repurchases the company 2019s common stock repurchase program has been in place since august 2004 .in the aggregate , the board of directors has authorized the company to repurchase $ 6.2 billion of the company 2019s common stock under the program .the company may repurchase outstanding shares of its common stock from time to time in the open market and through privately negotiated transactions .unless terminated earlier by resolution of the company 2019s board of directors , the repurchase program will expire when the company has repurchased all shares authorized under the program .as of october 29 , 2016 , the company had repurchased a total of approximately 147.0 million shares of its common stock for approximately $ 5.4 billion under this program .an additional $ 792.5 million remains available for repurchase of shares under the current authorized program .the repurchased shares are held as authorized but unissued shares of common stock .as a result of the company's planned acquisition of linear technology corporation , see note 6 , acquisitions , of these notes to consolidated financial statements , the company temporarily suspended the common stock repurchase plan in the third quarter of 2016 .the company also , from time to time , repurchases shares in settlement of employee minimum tax withholding obligations due upon the vesting of restricted stock units or the exercise of stock options .the withholding amount is based on the employees minimum statutory withholding requirement .any future common stock repurchases will be dependent upon several factors , including the company's financial performance , outlook , liquidity and the amount of cash the company has available in the united states .preferred stock the company has 471934 authorized shares of $ 1.00 par value preferred stock , none of which is issued or outstanding .the board of directors is authorized to fix designations , relative rights , preferences and limitations on the preferred stock at the time of issuance. .
|
what is the total value of the forfeited shares?
|
10168.7
|
{
"answer": "10168.7",
"decimal": 10168.7,
"type": "float"
}
| |
masco corporation notes to consolidated financial statements ( continued ) o .segment information ( continued ) ( 1 ) included in net sales were export sales from the u.s .of $ 229 million , $ 241 million and $ 246 million in 2012 , 2011 and 2010 , respectively .( 2 ) excluded from net sales were intra-company sales between segments of approximately two percent of net sales in each of 2012 , 2011 and 2010 .( 3 ) included in net sales were sales to one customer of $ 2143 million , $ 1984 million and $ 1993 million in 2012 , 2011 and 2010 , respectively .such net sales were included in the following segments : cabinets and related products , plumbing products , decorative architectural products and other specialty products .( 4 ) net sales from the company 2019s operations in the u.s .were $ 5793 million , $ 5394 million and $ 5618 million in 2012 , 2011 and 2010 , respectively .( 5 ) net sales , operating ( loss ) profit , property additions and depreciation and amortization expense for 2012 , 2011 and 2010 excluded the results of businesses reported as discontinued operations in 2012 , 2011 and 2010 .( 6 ) included in segment operating profit ( loss ) for 2012 was an impairment charge for other intangible assets as follows : other specialty products 2013 $ 42 million .included in segment operating ( loss ) profit for 2011 were impairment charges for goodwill and other intangible assets as follows : cabinets and related products 2013 $ 44 million ; plumbing products 2013 $ 1 million ; decorative architectural products 2013 $ 75 million ; and other specialty products 2013 $ 374 million .included in segment operating ( loss ) profit for 2010 were impairment charges for goodwill and other intangible assets as follows : plumbing products 2013 $ 1 million ; and installation and other services 2013 $ 697 million .( 7 ) general corporate expense , net included those expenses not specifically attributable to the company 2019s segments .( 8 ) the charge for litigation settlement , net in 2012 primarily relates to a business in the installation and other services segment and in 2011 relates to business units in the cabinets and related products and the other specialty products segments .( 9 ) long-lived assets of the company 2019s operations in the u.s .and europe were $ 2795 million and $ 567 million , $ 2964 million and $ 565 million , and $ 3684 million and $ 617 million at december 31 , 2012 , 2011 and 2010 , respectively .( 10 ) segment assets for 2012 and 2011 excluded the assets of businesses reported as discontinued operations in the respective years .p .severance costs as part of the company 2019s continuing review of its operations , actions were taken during 2012 , 2011 and 2010 to respond to market conditions .the company recorded charges related to severance and early retirement programs of $ 36 million , $ 17 million and $ 14 million for the years ended december 31 , 2012 , 2011 and 2010 , respectively .such charges are principally reflected in the statement of operations in selling , general and administrative expenses and were paid when incurred .q .other income ( expense ) , net other , net , which is included in other income ( expense ) , net , was as follows , in millions: .
[['', '2012', '2011', '2010'], ['income from cash and cash investments', '$ 6', '$ 8', '$ 6'], ['other interest income', '1', '1', '1'], ['income from financial investments net ( note e )', '24', '73', '9'], ['other items net', '-4 ( 4 )', '-5 ( 5 )', '-9 ( 9 )'], ['total other net', '$ 27', '$ 77', '$ 7']]
other items , net , included realized foreign currency transaction losses of $ 2 million , $ 5 million and $ 2 million in 2012 , 2011 and 2010 , respectively , as well as other miscellaneous items. .
|
what was the difference in income from financial investments net in millions from 2010 to 2011?
|
64
|
{
"answer": "64",
"decimal": 64,
"type": "float"
}
| |
marketing we are a supplier of gasoline and distillates to resellers and consumers within our market area in the midwest , upper great plains , gulf coast and southeastern regions of the united states .in 2007 , our refined products sales volumes totaled 21.6 billion gallons , or 1.410 mmbpd .the average sales price of our refined products in aggregate was $ 86.53 per barrel for 2007 .the following table sets forth our refined products sales by product group and our average sales price for each of the last three years .refined product sales ( thousands of barrels per day ) 2007 2006 2005 .
[['( thousands of barrels per day )', '2007', '2006', '2005'], ['gasoline', '791', '804', '836'], ['distillates', '377', '375', '385'], ['propane', '23', '23', '22'], ['feedstocks and special products', '103', '106', '96'], ['heavy fuel oil', '29', '26', '29'], ['asphalt', '87', '91', '87'], ['total ( a )', '1410', '1425', '1455'], ['average sales price ( dollars per barrel )', '$ 86.53', '$ 77.76', '$ 66.42']]
total ( a ) 1410 1425 1455 average sales price ( dollars per barrel ) $ 86.53 $ 77.76 $ 66.42 ( a ) includes matching buy/sell volumes of 24 mbpd and 77 mbpd in 2006 and 2005 .on april 1 , 2006 , we changed our accounting for matching buy/sell arrangements as a result of a new accounting standard .this change resulted in lower refined products sales volumes for 2007 and the remainder of 2006 than would have been reported under our previous accounting practices .see note 2 to the consolidated financial statements .the wholesale distribution of petroleum products to private brand marketers and to large commercial and industrial consumers and sales in the spot market accounted for 69 percent of our refined products sales volumes in 2007 .we sold 49 percent of our gasoline volumes and 89 percent of our distillates volumes on a wholesale or spot market basis .half of our propane is sold into the home heating market , with the balance being purchased by industrial consumers .propylene , cumene , aromatics , aliphatics and sulfur are domestically marketed to customers in the chemical industry .base lube oils , maleic anhydride , slack wax , extract and pitch are sold throughout the united states and canada , with pitch products also being exported worldwide .we market asphalt through owned and leased terminals throughout the midwest , upper great plains , gulf coast and southeastern regions of the united states .our customer base includes approximately 750 asphalt-paving contractors , government entities ( states , counties , cities and townships ) and asphalt roofing shingle manufacturers .we have blended ethanol with gasoline for over 15 years and increased our blending program in 2007 , in part due to renewable fuel mandates .we blended 41 mbpd of ethanol into gasoline in 2007 and 35 mbpd in both 2006 and 2005 .the future expansion or contraction of our ethanol blending program will be driven by the economics of the ethanol supply and changes in government regulations .we sell reformulated gasoline in parts of our marketing territory , primarily chicago , illinois ; louisville , kentucky ; northern kentucky ; milwaukee , wisconsin and hartford , illinois , and we sell low-vapor-pressure gasoline in nine states .we also sell biodiesel in minnesota , illinois and kentucky .as of december 31 , 2007 , we supplied petroleum products to about 4400 marathon branded-retail outlets located primarily in ohio , michigan , indiana , kentucky and illinois .branded retail outlets are also located in georgia , florida , minnesota , wisconsin , north carolina , tennessee , west virginia , virginia , south carolina , alabama , pennsylvania , and texas .sales to marathon-brand jobbers and dealers accounted for 16 percent of our refined product sales volumes in 2007 .speedway superamerica llc ( 201cssa 201d ) , our wholly-owned subsidiary , sells gasoline and diesel fuel primarily through retail outlets that we operate .sales of refined products through these ssa retail outlets accounted for 15 percent of our refined products sales volumes in 2007 .as of december 31 , 2007 , ssa had 1636 retail outlets in nine states that sold petroleum products and convenience store merchandise and services , primarily under the brand names 201cspeedway 201d and 201csuperamerica . 201d ssa 2019s revenues from the sale of non-petroleum merchandise totaled $ 2.796 billion in 2007 , compared with $ 2.706 billion in 2006 .profit levels from the sale of such merchandise and services tend to be less volatile than profit levels from the retail sale of gasoline and diesel fuel .ssa also operates 59 valvoline instant oil change retail outlets located in michigan and northwest ohio .pilot travel centers llc ( 201cptc 201d ) , our joint venture with pilot corporation ( 201cpilot 201d ) , is the largest operator of travel centers in the united states with 286 locations in 37 states and canada at december 31 , 2007 .the travel centers offer diesel fuel , gasoline and a variety of other services , including on-premises brand-name restaurants at many locations .pilot and marathon each own a 50 percent interest in ptc. .
|
what was the decline in matching buy/sell volumes in mbpd between 2006 and 2005?
|
-53
|
{
"answer": "-53",
"decimal": -53,
"type": "float"
}
| |
sysco corporation a0- a0form a010-k 3 part a0i item a01 a0business our distribution centers , which we refer to as operating companies , distribute nationally-branded merchandise , as well as products packaged under our private brands .products packaged under our private brands have been manufactured for sysco according to specifi cations that have been developed by our quality assurance team .in addition , our quality assurance team certifi es the manufacturing and processing plants where these products are packaged , enforces our quality control standards and identifi es supply sources that satisfy our requirements .we believe that prompt and accurate delivery of orders , competitive pricing , 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 foodservice products to our customers .our operating companies offer daily delivery to certain customer locations and have the capability of delivering special orders on short notice .through our approximately 12800 sales and marketing representatives and support staff of sysco and our operating companies , we stay informed of the needs of our customers and acquaint them with new products and services .our 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 the fi scal year ended june 28 , 2014 .we estimate that our sales by type of customer during the past three fi scal years were as follows: .
[['type of customer', '2014', '2013', '2012'], ['restaurants', '62% ( 62 % )', '61% ( 61 % )', '63% ( 63 % )'], ['healthcare', '9', '10', '10'], ['education government', '9', '8', '8'], ['travel leisure retail', '8', '8', '8'], ['other ( 1 )', '12', '13', '11'], ['totals', '100% ( 100 % )', '100% ( 100 % )', '100% ( 100 % )']]
( 1 ) other includes cafeterias that are not stand alone restaurants , bakeries , caterers , churches , civic and fraternal organizations , vending distributors , other distributors and international exports .none of these types of customers , as a group , exceeded 5% ( 5 % ) of total sales in any of the years for which information is presented .sources of supply we purchase from thousands of suppliers , both domestic and international , none of which individually accounts for more than 10% ( 10 % ) of our purchases .these suppliers consist generally of large corporations selling brand name and private label merchandise , as well as independent regional brand and private label processors and packers .purchasing is generally carried out through both centrally developed purchasing programs and direct purchasing programs established by our various operating companies .we administer a consolidated product procurement program designed to develop , obtain and ensure consistent quality food and non-food products .the program covers the purchasing and marketing of sysco brand merchandise , as well as products from a number of national brand suppliers , encompassing substantially all product lines .sysco 2019s operating companies purchase product from the suppliers participating in these consolidated programs and from other suppliers , although sysco brand products are only available to the operating companies through these consolidated programs .we also focus on increasing profi tability by lowering operating costs and by lowering aggregate inventory levels , which reduces future facility expansion needs at our broadline operating companies , while providing greater value to our suppliers and customers .this includes the construction and operation of regional distribution centers ( rdcs ) , which aggregate inventory demand to optimize the supply chain activities for certain products for all sysco broadline operating companies in the region .currently , we have two rdcs in operation , one in virginia and one in florida .working capital practices our growth is funded through a combination of cash fl ow from operations , commercial paper issuances and long-term borrowings .see the discussion in 201cmanagement 2019s discussion and analysis of financial condition and results of operations , liquidity and capital resources 201d at item 7 regarding our liquidity , fi nancial position and sources and uses of funds .credit terms we extend to our customers can vary from cash on delivery to 30 days or more based on our assessment of each customer 2019s credit worthiness .we monitor each customer 2019s account and will suspend shipments if necessary .a majority of our sales orders are fi lled within 24 hours of when customer orders are placed .we generally maintain inventory on hand to be able to meet customer demand .the level of inventory on hand will vary by product depending on shelf-life , supplier order fulfi llment lead times and customer demand .we also make purchases of additional volumes of certain products based on supply or pricing opportunities .we take advantage of suppliers 2019 cash discounts where appropriate and otherwise generally receive payment terms from our suppliers ranging from weekly to 30 days or more. .
|
what was the change in restaurants percentage of sales from 2012 to 2013?
|
-2%
|
{
"answer": "-2%",
"decimal": -0.02,
"type": "percentage"
}
| |
we cannot assure you that the gener restructuring will be completed or that the terms thereof will not be changed materially .in addition , gener is in the process of restructuring the debt of its subsidiaries , termoandes s.a .( 2018 2018termoandes 2019 2019 ) and interandes , s.a .( 2018 2018interandes 2019 2019 ) , and expects that the maturities of these obligations will be extended .under-performing businesses during 2003 we sold or discontinued under-performing businesses and construction projects that did not meet our investment criteria or did not provide reasonable opportunities to restructure .it is anticipated that there will be less ongoing activity related to write-offs of development or construction projects and impairment charges in the future .the businesses , which were affected in 2003 , are listed below .impairment project name project type date location ( in millions ) .
[['project name', 'project type', 'date', 'location', 'impairment ( in millions )'], ['ede este ( 1 )', 'operating', 'december 2003', 'dominican republic', '$ 60'], ['wolf hollow', 'operating', 'december 2003', 'united states', '$ 120'], ['granite ridge', 'operating', 'december 2003', 'united states', '$ 201'], ['colombia i', 'operating', 'november 2003', 'colombia', '$ 19'], ['zeg', 'construction', 'december 2003', 'poland', '$ 23'], ['bujagali', 'construction', 'august 2003', 'uganda', '$ 76'], ['el faro', 'construction', 'april 2003', 'honduras', '$ 20']]
( 1 ) see note 4 2014discontinued operations .improving credit quality our de-leveraging efforts reduced parent level debt by $ 1.2 billion in 2003 ( including the secured equity-linked loan previously issued by aes new york funding l.l.c. ) .we refinanced and paid down near-term maturities by $ 3.5 billion and enhanced our year-end liquidity to over $ 1 billion .our average debt maturity was extended from 2009 to 2012 .at the subsidiary level we continue to pursue limited recourse financing to reduce parent credit risk .these factors resulted in an overall reduced cost of capital , improved credit statistics and expanded access to credit at both aes and our subsidiaries .liquidity at the aes parent level is an important factor for the rating agencies in determining whether the company 2019s credit quality should improve .currency and political risk tend to be biggest variables to sustaining predictable cash flow .the nature of our large contractual and concession-based cash flow from these businesses serves to mitigate these variables .in 2003 , over 81% ( 81 % ) of cash distributions to the parent company were from u.s .large utilities and worldwide contract generation .on february 4 , 2004 , we called for redemption of $ 155049000 aggregate principal amount of outstanding 8% ( 8 % ) senior notes due 2008 , which represents the entire outstanding principal amount of the 8% ( 8 % ) senior notes due 2008 , and $ 34174000 aggregate principal amount of outstanding 10% ( 10 % ) secured senior notes due 2005 .the 8% ( 8 % ) senior notes due 2008 and the 10% ( 10 % ) secured senior notes due 2005 were redeemed on march 8 , 2004 at a redemption price equal to 100% ( 100 % ) of the principal amount plus accrued and unpaid interest to the redemption date .the mandatory redemption of the 10% ( 10 % ) secured senior notes due 2005 was being made with a portion of our 2018 2018adjusted free cash flow 2019 2019 ( as defined in the indenture pursuant to which the notes were issued ) for the fiscal year ended december 31 , 2003 as required by the indenture and was made on a pro rata basis .on february 13 , 2004 we issued $ 500 million of unsecured senior notes .the unsecured senior notes mature on march 1 , 2014 and are callable at our option at any time at a redemption price equal to 100% ( 100 % ) of the principal amount of the unsecured senior notes plus a make-whole premium .the unsecured senior notes were issued at a price of 98.288% ( 98.288 % ) and pay interest semi-annually at an annual .
|
what was the total in millions of impairment projects in the construction category in 2003?
|
119
|
{
"answer": "119",
"decimal": 119,
"type": "float"
}
| |
valuation techniques 2013 cash equivalents are mostly comprised of short-term money-market instruments and are valued at cost , which approximates fair value .u.s .equity securities and international equity securities categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year .for u.s .equity securities and international equity securities not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker , or investment manager .these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor or categorized as level 3 if the custodian obtains uncorroborated quotes from a broker or investment manager .commingled equity funds are investment vehicles valued using the net asset value ( nav ) provided by the fund managers .the nav is the total value of the fund divided by the number of shares outstanding .commingled equity funds are categorized as level 1 if traded at their nav on a nationally recognized securities exchange or categorized as level 2 if the nav is corroborated by observable market data ( e.g. , purchases or sales activity ) and we are able to redeem our investment in the near-term .fixed income investments categorized as level 2 are valued by the trustee using pricing models that use verifiable observable market data ( e.g. , interest rates and yield curves observable at commonly quoted intervals and credit spreads ) , bids provided by brokers or dealers , or quoted prices of securities with similar characteristics .fixed income investments are categorized at level 3 when valuations using observable inputs are unavailable .the trustee obtains pricing based on indicative quotes or bid evaluations from vendors , brokers , or the investment manager .private equity funds , real estate funds , and hedge funds are valued using the nav based on valuation models of underlying securities which generally include significant unobservable inputs that cannot be corroborated using verifiable observable market data .valuations for private equity funds and real estate funds are determined by the general partners .depending on the nature of the assets , the general partners may use various valuation methodologies , including the income and market approaches in their models .the market approach consists of analyzing market transactions for comparable assets while the income approach uses earnings or the net present value of estimated future cash flows adjusted for liquidity and other risk factors .hedge funds are valued by independent administrators using various pricing sources and models based on the nature of the securities .private equity funds , real estate funds , and hedge funds are generally categorized as level 3 as we cannot fully redeem our investment in the near-term .commodities are traded on an active commodity exchange and are valued at their closing prices on the last trading day of the year .contributions and expected benefit payments we generally determine funding requirements for our defined benefit pension plans in a manner consistent with cas and internal revenue code rules .in 2013 , we made contributions of $ 2.25 billion related to our qualified defined benefit pension plans .we currently plan to make contributions of approximately $ 1.0 billion related to the qualified defined benefit pension plans in 2014 .in 2013 , we made contributions of $ 98 million to our retiree medical and life insurance plans .we do not expect to make contributions related to the retiree medical and life insurance plans in 2014 as a result of our 2013 contributions .the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2013 ( in millions ) : .
[['', '2014', '2015', '2016', '2017', '2018', '2019 - 2023'], ['qualified defined benefit pension plans', '$ 1960', '$ 2030', '$ 2110', '$ 2200', '$ 2300', '$ 13240'], ['retiree medical and life insurance plans', '200', '210', '210', '220', '220', '1070']]
defined contribution plans we maintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees .under the provisions of our 401 ( k ) plans , we match most employees 2019 eligible contributions at rates specified in the plan documents .our contributions were $ 383 million in 2013 , $ 380 million in 2012 , and $ 378 million in 2011 , the majority of which were funded in our common stock .our defined contribution plans held approximately 44.7 million and 48.6 million shares of our common stock as of december 31 , 2013 and 2012. .
|
what is the change in estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2013 , from 2015 to 2016 in millions?
|
80
|
{
"answer": "80",
"decimal": 80,
"type": "float"
}
| |
jpmorgan chase & co ./ 2004 annual report 29 firms were aligned to provide consistency across the business segments .in addition , expenses related to certain corporate functions , technology and operations ceased to be allocated to the business segments and are retained in corporate .these retained expenses include parent company costs that would not be incurred if the segments were stand-alone businesses ; adjustments to align certain corporate staff , technology and operations allocations with market prices ; and other one-time items not aligned with the business segments .capital allocation each business segment is allocated capital by taking into consideration stand- alone peer comparisons , economic risk measures and regulatory capital requirements .the amount of capital assigned to each business is referred to as equity .effective with the third quarter of 2004 , new methodologies were implemented to calculate the amount of capital allocated to each segment .as part of the new methodology , goodwill , as well as the associated capital , is allocated solely to corporate .although u.s .gaap requires the allocation of goodwill to the business segments for impairment testing ( see note 15 on page 109 of this annual report ) , the firm has elected not to include goodwill or the related capital in each of the business segments for management reporting purposes .see the capital management section on page 50 of this annual report for a discussion of the equity framework .credit reimbursement tss reimburses the ib for credit portfolio exposures the ib manages on behalf of clients the segments share .at the time of the merger , the reimbursement methodology was revised to be based on pre-tax earnings , net of the cost of capital related to those exposures .prior to the merger , the credit reimburse- ment was based on pre-tax earnings , plus the allocated capital associated with the shared clients .tax-equivalent adjustments segment results reflect revenues on a tax-equivalent basis for segment reporting purposes .refer to page 25 of this annual report for additional details .description of business segment reporting methodology results of the business segments are intended to reflect each segment as if it were essentially a stand-alone business .the management reporting process that derives these results allocates income and expense using market-based methodologies .at the time of the merger , several of the allocation method- ologies were revised , as noted below .the changes became effective july 1 , 2004 .as prior periods have not been revised to reflect these new methodologies , they are not comparable to the presentation of periods begin- ning with the third quarter of 2004 .further , the firm intends to continue to assess the assumptions , methodologies and reporting reclassifications used for segment reporting , and it is anticipated that further refinements may be implemented in future periods .revenue sharing when business segments join efforts to sell products and services to the firm 2019s clients , the participating business segments agree to share revenues from those transactions .these revenue sharing agreements were revised on the merger date to provide consistency across the lines of businesses .funds transfer pricing funds transfer pricing ( 201cftp 201d ) is used to allocate interest income and interest expense to each line of business and also serves to transfer interest rate risk to corporate .while business segments may periodically retain interest rate exposures related to customer pricing or other business-specific risks , the bal- ance of the firm 2019s overall interest rate risk exposure is included and managed in corporate .in the third quarter of 2004 , ftp was revised to conform the policies of the combined firms .expense allocation where business segments use services provided by support units within the firm , the costs of those support units are allocated to the business segments .those expenses are allocated based on their actual cost , or the lower of actual cost or market cost , as well as upon usage of the services provided .effective with the third quarter of 2004 , the cost allocation methodologies of the heritage segment results 2013 operating basis ( a ) ( b ) ( table continued from previous page ) year ended december 31 , operating earnings return on common equity 2013 goodwill ( c ) .
[['year ended december 31 , ( in millions except ratios )', 'year ended december 31 , 2004', 'year ended december 31 , 2003', 'year ended december 31 , change', '2004', '2003'], ['investment bank', '$ 2948', '$ 2805', '5% ( 5 % )', '17% ( 17 % )', '15% ( 15 % )'], ['retail financial services', '2199', '1547', '42', '24', '37'], ['card services', '1274', '683', '87', '17', '20'], ['commercial banking', '608', '307', '98', '29', '29'], ['treasury & securities services', '440', '422', '4', '17', '15'], ['asset & wealth management', '681', '287', '137', '17', '5'], ['corporate', '61', '668', '-91 ( 91 )', 'nm', 'nm'], ['total', '$ 8211', '$ 6719', '22% ( 22 % )', '16% ( 16 % )', '19% ( 19 % )']]
.
|
in 2004 what was the ratio of the investment bank to the retail financial services operations operating earnings
|
1.34
|
{
"answer": "1.34",
"decimal": 1.34,
"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. .
|
how much was the total operating expenses in 2016 in millions of dollars?
|
1414.4
|
{
"answer": "1414.4",
"decimal": 1414.4,
"type": "float"
}
|
considering the increase of $ 544 as a 4% variation , the original value is calculated dividing $ 54.4 by its percentage , then adding the original value plus the variation .
|
advance auto parts , inc .and subsidiaries notes to the consolidated financial statements december 31 , 2011 , january 1 , 2011 and january 2 , 2010 ( in thousands , except per share data ) 2011-12 superseded certain pending paragraphs in asu 2011-05 201ccomprehensive income 2013 presentation of comprehensive income 201d to effectively defer only those changes in asu 2011-05 that related to the presentation of reclassification adjustments out of accumulated other comprehensive income .the adoption of asu 2011-05 is not expected to have a material impact on the company 2019s consolidated financial condition , results of operations or cash flows .in january 2010 , the fasb issued asu no .2010-06 201cfair value measurements and disclosures 2013 improving disclosures about fair value measurements . 201d asu 2010-06 requires new disclosures for significant transfers in and out of level 1 and 2 of the fair value hierarchy and the activity within level 3 of the fair value hierarchy .the updated guidance also clarifies existing disclosures regarding the level of disaggregation of assets or liabilities and the valuation techniques and inputs used to measure fair value .the updated guidance is effective for interim and annual reporting periods beginning after december 15 , 2009 , with the exception of the new level 3 activity disclosures , which are effective for interim and annual reporting periods beginning after december 15 , 2010 .the adoption of asu 2010-06 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows .3 .inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at december 31 , 2011 and january 1 , 2011 .under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2011 and prior years .as a result of utilizing lifo , the company recorded an increase to cost of sales of $ 24708 for fiscal 2011 due to an increase in supply chain costs and inflationary pressures affecting certain product categories .the company recorded a reduction to cost of sales of $ 29554 and $ 16040 for fiscal 2010 and 2009 , respectively .prior to fiscal 2011 , the company 2019s overall costs to acquire inventory for the same or similar products generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies .product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( "fifo" ) method .product cores are included as part of the company's merchandise costs and are either passed on to the customer or returned to the vendor .because product cores are not subject to frequent cost changes like the company's other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method .inventory overhead costs purchasing and warehousing costs included in inventory , at fifo , at december 31 , 2011 and january 1 , 2011 , were $ 126840 and $ 103989 , respectively .inventory balance and inventory reserves inventory balances at year-end for fiscal 2011 and 2010 were as follows : inventories at fifo , net adjustments to state inventories at lifo inventories at lifo , net december 31 , $ 1941055 102103 $ 2043158 january 1 , $ 1737059 126811 $ 1863870 .
[['', 'december 312011', 'january 12011'], ['inventories at fifo net', '$ 1941055', '$ 1737059'], ['adjustments to state inventories at lifo', '102103', '126811'], ['inventories at lifo net', '$ 2043158', '$ 1863870']]
advance auto parts , inc .and subsidiaries notes to the consolidated financial statements december 31 , 2011 , january 1 , 2011 and january 2 , 2010 ( in thousands , except per share data ) 2011-12 superseded certain pending paragraphs in asu 2011-05 201ccomprehensive income 2013 presentation of comprehensive income 201d to effectively defer only those changes in asu 2011-05 that related to the presentation of reclassification adjustments out of accumulated other comprehensive income .the adoption of asu 2011-05 is not expected to have a material impact on the company 2019s consolidated financial condition , results of operations or cash flows .in january 2010 , the fasb issued asu no .2010-06 201cfair value measurements and disclosures 2013 improving disclosures about fair value measurements . 201d asu 2010-06 requires new disclosures for significant transfers in and out of level 1 and 2 of the fair value hierarchy and the activity within level 3 of the fair value hierarchy .the updated guidance also clarifies existing disclosures regarding the level of disaggregation of assets or liabilities and the valuation techniques and inputs used to measure fair value .the updated guidance is effective for interim and annual reporting periods beginning after december 15 , 2009 , with the exception of the new level 3 activity disclosures , which are effective for interim and annual reporting periods beginning after december 15 , 2010 .the adoption of asu 2010-06 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows .3 .inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at december 31 , 2011 and january 1 , 2011 .under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2011 and prior years .as a result of utilizing lifo , the company recorded an increase to cost of sales of $ 24708 for fiscal 2011 due to an increase in supply chain costs and inflationary pressures affecting certain product categories .the company recorded a reduction to cost of sales of $ 29554 and $ 16040 for fiscal 2010 and 2009 , respectively .prior to fiscal 2011 , the company 2019s overall costs to acquire inventory for the same or similar products generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies .product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( "fifo" ) method .product cores are included as part of the company's merchandise costs and are either passed on to the customer or returned to the vendor .because product cores are not subject to frequent cost changes like the company's other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method .inventory overhead costs purchasing and warehousing costs included in inventory , at fifo , at december 31 , 2011 and january 1 , 2011 , were $ 126840 and $ 103989 , respectively .inventory balance and inventory reserves inventory balances at year-end for fiscal 2011 and 2010 were as follows : inventories at fifo , net adjustments to state inventories at lifo inventories at lifo , net december 31 , $ 1941055 102103 $ 2043158 january 1 , $ 1737059 126811 $ 1863870 .
|
how is the cashflow from operations affected by the change in inventories at lifo net?
|
-179288
|
{
"answer": "-179288",
"decimal": -179288,
"type": "float"
}
| |
united parcel service , inc .and subsidiaries management's discussion and analysis of financial condition and results of operations liquidity and capital resources as of december 31 , 2017 , we had $ 4.069 billion in cash , cash equivalents and marketable securities .we believe that our current cash position , access to the long-term debt capital markets and cash flow generated from operations should be adequate not only for operating requirements but also to enable us to complete our capital expenditure programs and to fund dividend payments , share repurchases and long-term debt payments through the next several years .in addition , we have funds available from our commercial paper program and the ability to obtain alternative sources of financing .we regularly evaluate opportunities to optimize our capital structure , including through issuances of debt to refinance existing debt and to fund ongoing cash needs .cash flows from operating activities the following is a summary of the significant sources ( uses ) of cash from operating activities ( amounts in millions ) : .
[['', '2017', '2016', '2015'], ['net income', '$ 4910', '$ 3431', '$ 4844'], ['non-cash operating activities ( 1 )', '5776', '6444', '4122'], ['pension and postretirement plan contributions ( ups-sponsored plans )', '-7794 ( 7794 )', '-2668 ( 2668 )', '-1229 ( 1229 )'], ['hedge margin receivables and payables', '-732 ( 732 )', '-142 ( 142 )', '170'], ['income tax receivables and payables', '-550 ( 550 )', '-505 ( 505 )', '-6 ( 6 )'], ['changes in working capital and other non-current assets and liabilities', '-178 ( 178 )', '-62 ( 62 )', '-418 ( 418 )'], ['other operating activities', '47', '-25 ( 25 )', '-53 ( 53 )'], ['net cash from operating activities', '$ 1479', '$ 6473', '$ 7430']]
( 1 ) represents depreciation and amortization , gains and losses on derivative transactions and foreign exchange , deferred income taxes , provisions for uncollectible accounts , pension and postretirement benefit expense , stock compensation expense and other non-cash items .cash from operating activities remained strong throughout 2015 to 2017 .most of the variability in operating cash flows during the 2015 to 2017 time period relates to the funding of our company-sponsored pension and postretirement benefit plans ( and related cash tax deductions ) .except for discretionary or accelerated fundings of our plans , contributions to our company- sponsored pension plans have largely varied based on whether any minimum funding requirements are present for individual pension plans .2022 we made discretionary contributions to our three primary company-sponsored u.s .pension plans totaling $ 7.291 , $ 2.461 and $ 1.030 billion in 2017 , 2016 and 2015 , respectively .2022 the remaining contributions from 2015 to 2017 were largely due to contributions to our international pension plans and u.s .postretirement medical benefit plans .apart from the transactions described above , operating cash flow was impacted by changes in our working capital position , payments for income taxes and changes in hedge margin payables and receivables .cash payments for income taxes were $ 1.559 , $ 2.064 and $ 1.913 billion for 2017 , 2016 and 2015 , respectively , and were primarily impacted by the timing of current tax deductions .the net hedge margin collateral ( paid ) /received from derivative counterparties was $ ( 732 ) , $ ( 142 ) and $ 170 million during 2017 , 2016 and 2015 , respectively , due to settlements and changes in the fair value of the derivative contracts used in our currency and interest rate hedging programs .as of december 31 , 2017 , the total of our worldwide holdings of cash , cash equivalents and marketable securities were $ 4.069 billion , of which approximately $ 1.800 billion was held by foreign subsidiaries .the amount of cash , cash equivalents and marketable securities held by our u.s .and foreign subsidiaries fluctuates throughout the year due to a variety of factors , including the timing of cash receipts and disbursements in the normal course of business .cash provided by operating activities in the u.s .continues to be our primary source of funds to finance domestic operating needs , capital expenditures , share repurchases and dividend payments to shareowners .as a result of the tax act , all cash , cash equivalents and marketable securities held by foreign subsidiaries are generally available for distribution to the u.s .without any u.s .federal income taxes .any such distributions may be subject to foreign withholding and u.s .state taxes .when amounts earned by foreign subsidiaries are expected to be indefinitely reinvested , no accrual for taxes is provided. .
|
what was the difference in millions of pension and postretirement plan contributions ( ups-sponsored plans ) from 2016 to 2017?
|
5126
|
{
"answer": "5126",
"decimal": 5126,
"type": "float"
}
| |
for securities that are quoted in active markets , the trustee/ custodian determines fair value by applying securities 2019 prices obtained from its pricing vendors .for commingled funds that are not actively traded , the trustee applies pricing information provided by investment management firms to the unit quanti- ties of such funds .investment management firms employ their own pricing vendors to value the securities underlying each commingled fund .underlying securities that are not actively traded derive their prices from investment managers , which in turn , employ vendors that use pricing models ( e.g. , discounted cash flow , comparables ) .the domestic defined benefit plans have no investment in our stock , except through the s&p 500 commingled trust index fund .the trustee obtains estimated prices from vendors for secu- rities that are not easily quotable and they are categorized accordingly as level 3 .the following table details further information on our plan assets where we have used significant unobservable inputs ( level 3 ) : .
[['( in millions )', 'level 3'], ['balance as of december 31 2016', '$ 11'], ['purchases', '28'], ['distributions', '-1 ( 1 )'], ['gain ( loss )', '1'], ['balance as of december 31 2017', '$ 39']]
pension trusts 2019 asset allocations there are two pension trusts , one in the u.s .and one in the u.k .the u.s .pension trust had assets of $ 1739 a0 million and $ 1632 a0million as of december a031 , 2017 and 2016 respectively , and the target allocations in 2017 include 68% ( 68 % ) fixed income , 27% ( 27 % ) domestic equities and 5% ( 5 % ) international equities .the u.k .pension trust had assets of $ 480 a0 million and $ 441 a0 million as of december a0 31 , 2017 and 2016 , respec- tively , and the target allocations in 2017 include 40% ( 40 % ) fixed income , 30% ( 30 % ) diversified growth funds , 20% ( 20 % ) equities and 10% ( 10 % ) real estate .the pension assets are invested with the goal of producing a combination of capital growth , income and a liability hedge .the mix of assets is established after consideration of the long- term performance and risk characteristics of asset classes .investments are selected based on their potential to enhance returns , preserve capital and reduce overall volatility .holdings are diversified within each asset class .the portfolios employ a mix of index and actively managed equity strategies by market capitalization , style , geographic regions and economic sec- tors .the fixed income strategies include u.s .long duration securities , opportunistic fixed income securities and u.k .debt instruments .the short-term portfolio , whose primary goal is capital preservation for liquidity purposes , is composed of gov- ernment and government- agency securities , uninvested cash , receivables and payables .the portfolios do not employ any financial leverage .u.s .defined contribution plans assets of the defined contribution plans in the u.s .consist pri- marily of investment options which include actively managed equity , indexed equity , actively managed equity/bond funds , target date funds , s&p global inc .common stock , stable value and money market strategies .there is also a self- directed mutual fund investment option .the plans purchased 228248 shares and sold 297750 shares of s&p global inc .common stock in 2017 and purchased 216035 shares and sold 437283 shares of s&p global inc .common stock in 2016 .the plans held approximately 1.5 a0million shares of s&p global inc .com- mon stock as of december a031 , 2017 and 1.6 a0million shares as of december a031 , 2016 , with market values of $ 255 a0million and $ 171 a0million , respectively .the plans received dividends on s&p global inc .common stock of $ 3 a0million and $ 2 a0million during the years ended december a031 , 2017 and december a031 , 2016 respectively .8 .stock-based compensation we issue stock-based incentive awards to our eligible employ- ees and directors under the 2002 employee stock incentive plan and a director deferred stock ownership plan .2002 employee stock incentive plan ( the 201c2002 plan 201d ) 2014 the 2002 plan permits the granting of nonquali- fied stock options , stock appreciation rights , performance stock , restricted stock and other stock-based awards .director deferred stock ownership plan 2014 under this plan , common stock reserved may be credited to deferred stock accounts for eligible directors .in general , the plan requires that 50% ( 50 % ) of eligible directors 2019 annual com- pensation plus dividend equivalents be credited to deferred stock accounts .each director may also elect to defer all or a portion of the remaining compensation and have an equiva- lent number of shares credited to the deferred stock account .recipients under this plan are not required to provide con- sideration to us other than rendering service .shares will be delivered as of the date a recipient ceases to be a member of the board of directors or within five years thereafter , if so elected .the plan will remain in effect until terminated by the board of directors or until no shares of stock remain avail- able under the plan .s&p global 2017 annual report 71 .
|
what was the ratio of the pension trust assets for 2017 to 2016 $ 1739 million and $ 1632
|
1.1
|
{
"answer": "1.1",
"decimal": 1.1,
"type": "float"
}
|
for every dollar of pension trust assets in 2016 there was $ 1.1 in 2017
|
in particular , we have received commitments for $ 30.0 billion in debt financing to fund the transactions which is comprised of ( i ) a $ 4.0 billion secured revolving credit facility , ( ii ) a $ 7.0 billion term loan credit facility and ( iii ) a $ 19.0 billion secured bridge loan facility .our reliance on the financing from the $ 19.0 billion secured bridge loan facility commitment is intended to be reduced through one or more secured note offerings or other long-term financings prior to the merger closing .however , there can be no assurance that we will be able to issue any such secured notes or other long-term financings on terms we find acceptable or at all , especially in light of the recent debt market volatility , in which case we may have to exercise some or all of the commitments under the secured bridge facility to fund the transactions .accordingly , the costs of financing for the transactions may be higher than expected .credit rating downgrades could adversely affect the businesses , cash flows , financial condition and operating results of t-mobile and , following the transactions , the combined company .credit ratings impact the cost and availability of future borrowings , and , as a result , cost of capital .our current ratings reflect each rating agency 2019s opinion of our financial strength , operating performance and ability to meet our debt obligations or , following the completion of the transactions , obligations to the combined company 2019s obligors .each rating agency reviews these ratings periodically and there can be no assurance that such ratings will be maintained in the future .a downgrade in the rating of us and/or sprint could adversely affect the businesses , cash flows , financial condition and operating results of t- mobile and , following the transactions , the combined company .we have incurred , and will incur , direct and indirect costs as a result of the transactions .we have incurred , and will incur , substantial expenses in connection with and as a result of completing the transactions , and over a period of time following the completion of the transactions , the combined company also expects to incur substantial expenses in connection with integrating and coordinating our and sprint 2019s businesses , operations , policies and procedures .a portion of the transaction costs related to the transactions will be incurred regardless of whether the transactions are completed .while we have assumed that a certain level of transaction expenses will be incurred , factors beyond our control could affect the total amount or the timing of these expenses .many of the expenses that will be incurred , by their nature , are difficult to estimate accurately .these expenses will exceed the costs historically borne by us .these costs could adversely affect our financial condition and results of operations prior to the transactions and the financial condition and results of operations of the combined company following the transactions .item 1b .unresolved staff comments item 2 .properties as of december 31 , 2018 , our significant properties that we primarily lease and use in connection with switching centers , data centers , call centers and warehouses were as follows: .
[['', 'approximate number', 'approximate size in square feet'], ['switching centers', '61', '1300000'], ['data centers', '6', '500000'], ['call center', '17', '1300000'], ['warehouses', '21', '500000']]
as of december 31 , 2018 , we primarily leased : 2022 approximately 64000 macro towers and 21000 distributed antenna system and small cell sites .2022 approximately 2200 t-mobile and metro by t-mobile retail locations , including stores and kiosks ranging in size from approximately 100 square feet to 17000 square feet .2022 office space totaling approximately 1000000 square feet for our corporate headquarters in bellevue , washington .in january 2019 , we executed leases totaling approximately 170000 additional square feet for our corporate headquarters .we use these offices for engineering and administrative purposes .2022 office space throughout the u.s. , totaling approximately 1700000 square feet , for use by our regional offices primarily for administrative , engineering and sales purposes. .
|
what was the average size of the 61 switching centers in square feet
|
21312
|
{
"answer": "21312",
"decimal": 21312,
"type": "float"
}
|
the average square feet is the total square feet divide by the number of locations
|
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) of certain of its assets and liabilities under its interest rate swap agreements held as of december 31 , 2006 and entered into during the first half of 2007 .in addition , the company paid $ 8.0 million related to a treasury rate lock agreement entered into and settled during the year ended december 31 , 2008 .the cost of the treasury rate lock is being recognized as additional interest expense over the 10-year term of the 7.00% ( 7.00 % ) notes .during the year ended december 31 , 2007 , the company also received $ 3.1 million in cash upon settlement of the assets and liabilities under ten forward starting interest rate swap agreements with an aggregate notional amount of $ 1.4 billion , which were designated as cash flow hedges to manage exposure to variability in cash flows relating to forecasted interest payments in connection with the certificates issued in the securitization in may 2007 .the settlement is being recognized as a reduction in interest expense over the five-year period for which the interest rate swaps were designated as hedges .the company also received $ 17.0 million in cash upon settlement of the assets and liabilities under thirteen additional interest rate swap agreements with an aggregate notional amount of $ 850.0 million that managed exposure to variability of interest rates under the credit facilities but were not considered cash flow hedges for accounting purposes .this gain is included in other income in the accompanying consolidated statement of operations for the year ended december 31 , 2007 .as of december 31 , 2008 and 2007 , other comprehensive ( loss ) income included the following items related to derivative financial instruments ( in thousands ) : .
[['', '2008', '2007'], ['deferred loss on the settlement of the treasury rate lock net of tax', '$ -4332 ( 4332 )', '$ -4901 ( 4901 )'], ['deferred gain on the settlement of interest rate swap agreements entered into in connection with the securitization net oftax', '1238', '1636'], ['unrealized losses related to interest rate swap agreements net of tax', '-16349 ( 16349 )', '-486 ( 486 )']]
during the years ended december 31 , 2008 and 2007 , the company recorded an aggregate net unrealized loss of approximately $ 15.8 million and $ 3.2 million , respectively ( net of a tax provision of approximately $ 10.2 million and $ 2.0 million , respectively ) in other comprehensive loss for the change in fair value of interest rate swaps designated as cash flow hedges and reclassified an aggregate of $ 0.1 million and $ 6.2 million , respectively ( net of an income tax provision of $ 2.0 million and an income tax benefit of $ 3.3 million , respectively ) into results of operations .9 .fair valuemeasurements the company determines the fair market values of its financial instruments based on the fair value hierarchy established in sfas no .157 , which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value .the standard describes three levels of inputs that may be used to measure fair value .level 1 quoted prices in active markets for identical assets or liabilities that the company has the ability to access at the measurement date .the company 2019s level 1 assets consist of available-for-sale securities traded on active markets as well as certain brazilian treasury securities that are highly liquid and are actively traded in over-the-counter markets .level 2 observable inputs other than level 1 prices , such as quoted prices for similar assets or liabilities ; quoted prices in markets that are not active ; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. .
|
what is the pre-tax aggregate net unrealized loss in 2008?
|
26
|
{
"answer": "26",
"decimal": 26,
"type": "float"
}
| |
performance graph the performance graph below shows the five-year cumulative total stockholder return on applied common stock during the period from october 28 , 2012 through october 29 , 2017 .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 28 , 2012 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 10/28/12 in stock or 10/31/12 in index , including reinvestment of dividends .indexes calculated on month-end basis .copyright a9 2017 standard & poor 2019s , a division of s&p global .all rights reserved. .
[['', '10/28/2012', '10/27/2013', '10/26/2014', '10/25/2015', '10/30/2016', '10/29/2017'], ['applied materials', '100.00', '171.03', '207.01', '165.34', '293.64', '586.91'], ['s&p 500 index', '100.00', '127.18', '149.14', '156.89', '163.97', '202.72'], ['rdg semiconductor composite index', '100.00', '131.94', '167.25', '160.80', '193.36', '288.96']]
dividends during each of fiscal 2017 , 2016 and 2015 , 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 .10/28/12 10/27/13 10/26/14 10/25/15 10/30/16 10/29/17 applied materials , inc .s&p 500 rdg semiconductor composite .
|
how much percent did the investor make on applied materials from the first 5 years compared to the 2016 to 2017 time period ? ( not including compound interest )
|
the investor made 93.1% more money in the first 5 years compared to the 2016 to 2017 period .
|
{
"answer": "the investor made 93.1% more money in the first 5 years compared to the 2016 to 2017 period .",
"decimal": 0.9309999999999999,
"type": "percentage"
}
|
to see the difference between the years one will need to calculate the total percentage change over those years . for the first 5 years its pretty easy because we started with $ 100 making it a 193% return . for the years 2016 to 2017 , one needs to subtract the starting price by the ending price and then divide that number by the starting price . this gives us a 99.9% return in 2016 to 2017 .
|
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) of certain of its assets and liabilities under its interest rate swap agreements held as of december 31 , 2006 and entered into during the first half of 2007 .in addition , the company paid $ 8.0 million related to a treasury rate lock agreement entered into and settled during the year ended december 31 , 2008 .the cost of the treasury rate lock is being recognized as additional interest expense over the 10-year term of the 7.00% ( 7.00 % ) notes .during the year ended december 31 , 2007 , the company also received $ 3.1 million in cash upon settlement of the assets and liabilities under ten forward starting interest rate swap agreements with an aggregate notional amount of $ 1.4 billion , which were designated as cash flow hedges to manage exposure to variability in cash flows relating to forecasted interest payments in connection with the certificates issued in the securitization in may 2007 .the settlement is being recognized as a reduction in interest expense over the five-year period for which the interest rate swaps were designated as hedges .the company also received $ 17.0 million in cash upon settlement of the assets and liabilities under thirteen additional interest rate swap agreements with an aggregate notional amount of $ 850.0 million that managed exposure to variability of interest rates under the credit facilities but were not considered cash flow hedges for accounting purposes .this gain is included in other income in the accompanying consolidated statement of operations for the year ended december 31 , 2007 .as of december 31 , 2008 and 2007 , other comprehensive ( loss ) income included the following items related to derivative financial instruments ( in thousands ) : .
[['', '2008', '2007'], ['deferred loss on the settlement of the treasury rate lock net of tax', '$ -4332 ( 4332 )', '$ -4901 ( 4901 )'], ['deferred gain on the settlement of interest rate swap agreements entered into in connection with the securitization net oftax', '1238', '1636'], ['unrealized losses related to interest rate swap agreements net of tax', '-16349 ( 16349 )', '-486 ( 486 )']]
during the years ended december 31 , 2008 and 2007 , the company recorded an aggregate net unrealized loss of approximately $ 15.8 million and $ 3.2 million , respectively ( net of a tax provision of approximately $ 10.2 million and $ 2.0 million , respectively ) in other comprehensive loss for the change in fair value of interest rate swaps designated as cash flow hedges and reclassified an aggregate of $ 0.1 million and $ 6.2 million , respectively ( net of an income tax provision of $ 2.0 million and an income tax benefit of $ 3.3 million , respectively ) into results of operations .9 .fair valuemeasurements the company determines the fair market values of its financial instruments based on the fair value hierarchy established in sfas no .157 , which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value .the standard describes three levels of inputs that may be used to measure fair value .level 1 quoted prices in active markets for identical assets or liabilities that the company has the ability to access at the measurement date .the company 2019s level 1 assets consist of available-for-sale securities traded on active markets as well as certain brazilian treasury securities that are highly liquid and are actively traded in over-the-counter markets .level 2 observable inputs other than level 1 prices , such as quoted prices for similar assets or liabilities ; quoted prices in markets that are not active ; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. .
|
in 2008 what was the approximate tax rate on the company recorded an aggregate net unrealized loss
|
54.9%
|
{
"answer": "54.9%",
"decimal": 0.5489999999999999,
"type": "percentage"
}
| |
taxes .if group or its bermuda subsidiaries were to become subject to u.s .income tax ; there could be a material adverse effect on the company 2019s financial condition , results of operations and cash flows .united kingdom .bermuda re 2019s uk branch conducts business in the uk and is subject to taxation in the uk .bermuda re believes that it has operated and will continue to operate its bermuda operation in a manner which will not cause them to be subject to uk taxation .if bermuda re 2019s bermuda operations were to become subject to uk income tax there could be a material adverse impact on the company 2019s financial condition , results of operations and cash flow .available information the company 2019s annual reports on form 10-k , quarterly reports on form 10-q , current reports on form 8-k , proxy state- ments 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 ) .i t e m 1 a .r i s k f a c t o r s 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 , finan- cial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly .r i s k s r e l a t i n g t o o u r b u s i n e s s 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 .we define a catastrophe as an event that causes a pre-tax loss on property exposures before reinsurance of at least $ 5.0 million , before corporate level rein- surance and taxes .effective for the third quarter 2005 , industrial risk losses have been excluded from catastrophe losses , with prior periods adjusted for comparison purposes .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', 'calendar year', ''], ['2006', '$ 287.9', 'million'], ['2005', '$ 1485.7', 'million'], ['2004', '$ 390.0', 'million'], ['2003', '$ 35.0', 'million'], ['2002', '$ 30.0', 'million']]
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 under- writing tool .we use these loss projections to estimate our potential catastrophe losses in certain geographic areas and decide on the purchase 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 .we focus on potential losses that can be generated by any single event as part of our evaluation and monitoring of our aggre- gate exposure to catastrophic events .accordingly , we employ various techniques to estimate the amount of loss we could sustain from any single catastrophic event in various geographical areas .these techniques range from non-modeled deterministic approaches 2014such as tracking aggregate limits exposed in catastrophe-prone zones and applying historic dam- age factors 2014to modeled approaches that scientifically measure catastrophe risks using sophisticated monte carlo simulation techniques that provide insights into the frequency and severity of expected losses on a probabilistic basis .if our loss reserves are inadequate to meet our actual losses , net income would be reduced or we could incur a loss .we are required to maintain reserves to cover our estimated ultimate liability of losses and loss adjustment expenses for both reported and unreported claims incurred .these reserves are only estimates of what we believe the settlement and adminis- tration of claims will cost based on facts and circumstances known to us .in setting reserves for our reinsurance liabilities , we rely on claim data supplied by our ceding companies and brokers and we employ actuarial and statistical projections .the information received from our ceding companies is not always timely or accurate , which can contribute to inaccuracies in our 81790fin_a 4/13/07 11:08 am page 23 http://www.everestre.com .
|
what is the percentage change of the , pre-tax catastrophe losses from 2003 to 2004
|
1014%
|
{
"answer": "1014%",
"decimal": 10.14,
"type": "percentage"
}
| |
prior to its adoption of sfas no .123 ( r ) , the company recorded compensation expense for restricted stock awards on a straight-line basis over their vesting period .if an employee forfeited the award prior to vesting , the company reversed out the previously expensed amounts in the period of forfeiture .as required upon adoption of sfas no .123 ( r ) , the company must base its accruals of compensation expense on the estimated number of awards for which the requisite service period is expected to be rendered .actual forfeitures are no longer recorded in the period of forfeiture .in 2005 , the company recorded a pre-tax credit of $ 2.8 million in cumulative effect of accounting change , that represents the amount by which compensation expense would have been reduced in periods prior to adoption of sfas no .123 ( r ) for restricted stock awards outstanding on july 1 , 2005 that are anticipated to be forfeited .a summary of non-vested restricted stock award and restricted stock unit activity is presented below : shares ( in thousands ) weighted- average date fair .
[['', 'shares ( in thousands )', 'weighted- average grant date fair value'], ['non-vested at december 31 2006:', '2878', '$ 13.01'], ['issued', '830', '$ 22.85'], ['released ( vested )', '-514 ( 514 )', '$ 15.93'], ['canceled', '-1197 ( 1197 )', '$ 13.75'], ['non-vested at december 31 2007:', '1997', '$ 15.91']]
as of december 31 , 2007 , there was $ 15.3 million of total unrecognized compensation cost related to non-vested awards .this cost is expected to be recognized over a weighted-average period of 1.6 years .the total fair value of restricted shares and restricted stock units vested was $ 11.0 million , $ 7.5 million and $ 4.1 million for the years ended december 31 , 2007 , 2006 and 2005 , respectively .employee stock purchase plan the shareholders of the company previously approved the 2002 employee stock purchase plan ( 201c2002 purchase plan 201d ) , and reserved 5000000 shares of common stock for sale to employees at a price no less than 85% ( 85 % ) of the lower of the fair market value of the common stock at the beginning of the one-year offering period or the end of each of the six-month purchase periods .under sfas no .123 ( r ) , the 2002 purchase plan was considered compensatory .effective august 1 , 2005 , the company changed the terms of its purchase plan to reduce the discount to 5% ( 5 % ) and discontinued the look-back provision .as a result , the purchase plan was not compensatory beginning august 1 , 2005 .for the year ended december 31 , 2005 , the company recorded $ 0.4 million in compensation expense for its employee stock purchase plan for the period in which the 2002 plan was considered compensatory until the terms were changed august 1 , 2005 .at december 31 , 2007 , 757123 shares were available for purchase under the 2002 purchase plan .401 ( k ) plan the company has a 401 ( k ) salary deferral program for eligible employees who have met certain service requirements .the company matches certain employee contributions ; additional contributions to this plan are at the discretion of the company .total contribution expense under this plan was $ 5.7 million , $ 5.7 million and $ 5.2 million for the years ended december 31 , 2007 , 2006 and 2005 , respectively. .
|
as of december 31 2006 what was the ratio of the non-vested to the shares issued
|
3.47
|
{
"answer": "3.47",
"decimal": 3.47,
"type": "float"
}
|
as of december 31 2006 there was 3.47 shares of the non-vested to the shares issued
|
recourse and repurchase obligations as discussed in note 3 loans sale and servicing activities and variable interest entities , pnc has sold commercial mortgage and residential mortgage loans directly or indirectly in securitizations and whole-loan sale transactions with continuing involvement .one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets in these transactions .commercial mortgage loan recourse obligations we originate , close and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s dus program .we participated in a similar program with the fhlmc .under these programs , we generally assume up to a one-third pari passu risk of loss on unpaid principal balances through a loss share arrangement .at december 31 , 2011 and december 31 , 2010 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 13.0 billion and $ 13.2 billion , respectively .the potential maximum exposure under the loss share arrangements was $ 4.0 billion at both december 31 , 2011 and december 31 , 2010 .we maintain a reserve for estimated losses based upon our exposure .the reserve for losses under these programs totaled $ 47 million and $ 54 million as of december 31 , 2011 and december 31 , 2010 , respectively , and is included in other liabilities on our consolidated balance sheet .if payment is required under these programs , we would not have a contractual interest in the collateral underlying the mortgage loans on which losses occurred , although the value of the collateral is taken into account in determining our share of such losses .our exposure and activity associated with these recourse obligations are reported in the corporate & institutional banking segment .analysis of commercial mortgage recourse obligations .
[['in millions', '2011', '2010'], ['january 1', '$ 54', '$ 71'], ['reserve adjustments net', '1', '9'], ['losses 2013 loan repurchases and settlements', '-8 ( 8 )', '-2 ( 2 )'], ['loan sales', '', '-24 ( 24 )'], ['december 31', '$ 47', '$ 54']]
residential mortgage loan and home equity repurchase obligations while residential mortgage loans are sold on a non-recourse basis , we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors .these loan repurchase obligations primarily relate to situations where pnc is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreements .residential mortgage loans covered by these loan repurchase obligations include first and second-lien mortgage loans we have sold through agency securitizations , non-agency securitizations , and whole-loan sale transactions .as discussed in note 3 in this report , agency securitizations consist of mortgage loans sale transactions with fnma , fhlmc , and gnma , while non-agency securitizations and whole-loan sale transactions consist of mortgage loans sale transactions with private investors .our historical exposure and activity associated with agency securitization repurchase obligations has primarily been related to transactions with fnma and fhlmc , as indemnification and repurchase losses associated with fha and va-insured and uninsured loans pooled in gnma securitizations historically have been minimal .repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment .pnc 2019s repurchase obligations also include certain brokered home equity loans/lines that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition .pnc is no longer engaged in the brokered home equity lending business , and our exposure under these loan repurchase obligations is limited to repurchases of whole-loans sold in these transactions .repurchase activity associated with brokered home equity loans/lines is reported in the non-strategic assets portfolio segment .loan covenants and representations and warranties are established through loan sale agreements with various investors to provide assurance that pnc has sold loans to investors of sufficient investment quality .key aspects of such covenants and representations and warranties include the loan 2019s compliance with any applicable loan criteria established by the investor , including underwriting standards , delivery of all required loan documents to the investor or its designated party , sufficient collateral valuation , and the validity of the lien securing the loan .as a result of alleged breaches of these contractual obligations , investors may request pnc to indemnify them against losses on certain loans or to repurchase loans .these investor indemnification or repurchase claims are typically settled on an individual loan basis through make- whole payments or loan repurchases ; however , on occasion we may negotiate pooled settlements with investors .indemnifications for loss or loan repurchases typically occur when , after review of the claim , we agree insufficient evidence exists to dispute the investor 2019s claim that a breach of a loan covenant and representation and warranty has occurred , such breach has not been cured , and the effect of such breach is deemed to have had a material and adverse effect on the value of the transferred loan .depending on the sale agreement and upon proper notice from the investor , we typically respond to such indemnification and repurchase requests within 60 days , although final resolution of the claim may take a longer period of time .with the exception of the sales the pnc financial services group , inc .2013 form 10-k 199 .
|
during 2011 , what was the change in reserve for estimated losses included in other liabilities on our consolidated balance sheet?
|
7
|
{
"answer": "7",
"decimal": 7,
"type": "float"
}
| |
part ii item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities market information our common stock is listed and traded on the new york stock exchange under the symbol 201cipg 201d .as of february 13 , 2019 , there were approximately 10000 registered holders of our outstanding common stock .on february 13 , 2019 , we announced that our board of directors ( the 201cboard 201d ) had declared a common stock cash dividend of $ 0.235 per share , payable on march 15 , 2019 to holders of record as of the close of business on march 1 , 2019 .although it is the board 2019s current intention to declare and pay future dividends , there can be no assurance that such additional dividends will in fact be declared and paid .any and the amount of any such declaration is at the discretion of the board and will depend upon factors such as our earnings , financial position and cash requirements .equity compensation plans see item 12 for information about our equity compensation plans .transfer agent and registrar for common stock the transfer agent and registrar for our common stock is : computershare shareowner services llc 480 washington boulevard 29th floor jersey city , new jersey 07310 telephone : ( 877 ) 363-6398 sales of unregistered securities not applicable .repurchases of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2018 to december 31 , 2018 .total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 .
[['', 'total number ofshares ( or units ) purchased1', 'average price paidper share ( or unit ) 2', 'total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3', 'maximum number ( orapproximate dollar value ) of shares ( or units ) that may yet be purchasedunder the plans orprograms3'], ['october 1 - 31', '3824', '$ 23.30', '2014', '$ 338421933'], ['november 1 - 30', '1750', '$ 23.77', '2014', '$ 338421933'], ['december 1 - 31', '2014', '2014', '2014', '$ 338421933'], ['total', '5574', '$ 23.45', '2014', '']]
1 the total number of shares of our common stock , par value $ 0.10 per share , repurchased were withheld under the terms of grants under employee stock- based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) .2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum in the applicable period of the aggregate value of the tax withholding obligations by the sum of the number of withheld shares .3 in february 2017 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2017 share repurchase program 201d ) .in february 2018 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock , which was in addition to any amounts remaining under the 2017 share repurchase program .on july 2 , 2018 , in connection with the announcement of the acxiom acquisition , we announced that share repurchases will be suspended for a period of time in order to reduce the increased debt levels incurred in conjunction with the acquisition , and no shares were repurchased pursuant to the share repurchase programs in the periods reflected .there are no expiration dates associated with the share repurchase programs. .
|
what was the percentage of the total number of shares purchased in october
|
68.6%
|
{
"answer": "68.6%",
"decimal": 0.6859999999999999,
"type": "percentage"
}
| |
equity compensation plan information the following table presents the equity securities available for issuance under our equity compensation plans as of december 31 , 2018 .equity compensation plan information plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( a ) ( b ) ( c ) equity compensation plans approved by security holders 399165 $ 0.00 3995600 equity compensation plans not approved by security holders ( 2 ) 2014 2014 2014 .
[['plan category', 'number of securities to be issued upon exercise of outstanding options warrants and rights ( 1 ) ( a ) ( b )', 'weighted-average exercise price of outstanding optionswarrants and rights', 'number of securities remaining available for future issuance under equity compensation plans ( excluding securitiesreflected in column ( a ) ) ( c )'], ['equity compensation plans approved by security holders', '399165', '$ 0.00', '3995600'], ['equity compensation plans not approved by security holders ( 2 )', '2014', '2014', '2014'], ['total', '399165', '$ 0.00', '3995600']]
( 1 ) includes grants made under the huntington ingalls industries , inc .2012 long-term incentive stock plan ( the "2012 plan" ) , which was approved by our stockholders on may 2 , 2012 , and the huntington ingalls industries , inc .2011 long-term incentive stock plan ( the "2011 plan" ) , which was approved by the sole stockholder of hii prior to its spin-off from northrop grumman corporation .of these shares , 27123 were stock rights granted under the 2011 plan .in addition , this number includes 31697 stock rights , 5051 restricted stock rights , and 335293 restricted performance stock rights granted under the 2012 plan , assuming target performance achievement .( 2 ) there are no awards made under plans not approved by security holders .item 13 .certain relationships and related transactions , and director independence information as to certain relationships and related transactions and director independence will be incorporated herein by reference to the proxy statement for our 2019 annual meeting of stockholders , to be filed within 120 days after the end of the company 2019s fiscal year .item 14 .principal accountant fees and services information as to principal accountant fees and services will be incorporated herein by reference to the proxy statement for our 2019 annual meeting of stockholders , to be filed within 120 days after the end of the company 2019s fiscal year. .
|
what portion of the equity compensation plan approved by security holders is to be issued upon the exercise of the outstanding options warrants and rights?
|
9.1%
|
{
"answer": "9.1%",
"decimal": 0.091,
"type": "percentage"
}
| |
notes to consolidated financial statements 1 .basis of presentation the accompanying consolidated financial statements and notes thereto have been prepared in accordance with u.s .generally accepted accounting principles ( "u.s .gaap" ) .the consolidated financial statements include the accounts of aon plc and all of its controlled subsidiaries ( "aon" or the "company" ) .all intercompany accounts and transactions have been eliminated .the consolidated financial statements include , in the opinion of management , all adjustments necessary to present fairly the company's consolidated financial position , results of operations and cash flows for all periods presented .reclassification certain amounts in prior years' consolidated financial statements and related notes have been reclassified to conform to the 2015 presentation .in prior periods , long-term investments were included in investments in the consolidated statement of financial position .these amounts are now included in other non-current assets in the consolidated statement of financial position , as shown in note 3 to these consolidated financial statements .long-term investments were $ 135 million at december 31 , 2015 and $ 143 million at december 31 , 2014 .in prior periods , prepaid pensions were included in other non-current assets in the consolidated statement of financial position .these amounts are now separately disclosed in the consolidated statement of financial position .prepaid pensions were $ 1033 million at december 31 , 2015 and $ 933 million at december 31 , 2014 .upon vesting of certain share-based payment arrangements , employees may elect to use a portion of the shares to satisfy tax withholding requirements , in which case aon makes a payment to the taxing authority on the employee 2019s behalf and remits the remaining shares to the employee .the company has historically presented amounts due to taxing authorities within cash flows from operating activities in the consolidated statements of cash flows .the amounts are now included in 201cissuance of shares for employee benefit plans 201d within cash flows from financing activities .the company believes this presentation provides greater clarity into the operating and financing activities of the company as the substance and accounting for these transactions is that of a share repurchase .it also aligns the company 2019s presentation to be consistent with industry practice .amounts reported in issuance of shares for employee benefit plans were $ 227 million , $ 170 million , and $ 120 million , respectively , for the years ended december 31 , 2015 , 2014 and 2013 .these amounts , which were reclassified from accounts payable and accrued liabilities and other assets and liabilities , were $ 85 million and $ 85 million in 2014 , and $ 62 million and $ 58 million in 2013 , respectively .changes to the presentation in the consolidated statements of cash flows for 2014 and 2013 were made related to certain line items within financing activities .the following line items and respective amounts have been aggregated in a new line item titled 201cnoncontrolling interests and other financing activities 201d within financing activities. .
[['years ended december 31,', '2014', '2013'], ['purchases of shares from noncontrolling interests', '3', '-8 ( 8 )'], ['dividends paid to noncontrolling interests', '-24 ( 24 )', '-19 ( 19 )'], ['proceeds from sale-leaseback', '25', '2014']]
use of estimates the preparation of the accompanying consolidated financial statements in conformity with u.s .gaap requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities , disclosures of contingent assets and liabilities at the date of the financial statements , and the reported amounts of reserves and expenses .these estimates and assumptions are based on management's best estimates and judgments .management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors , including the current economic environment .management believes its estimates to be reasonable given the current facts available .aon adjusts such estimates and assumptions when facts and circumstances dictate .illiquid credit markets , volatile equity markets , and foreign currency exchange rate movements increase the uncertainty inherent in such estimates and assumptions .as future events and their effects cannot be determined , among other factors , with precision , actual results could differ significantly from these estimates .changes in estimates resulting from continuing changes in the economic environment would , if applicable , be reflected in the financial statements in future periods. .
|
what is the net cash outflow reported for purchases of shares from noncontrolling interests and for dividends paid to noncontrolling interests?
|
-21
|
{
"answer": "-21",
"decimal": -21,
"type": "float"
}
| |
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 ( 1 ) weighted average interest rate at december 31 , 2011 .( 2 ) the company has interest rate swaps and interest rate option agreements in an aggregate notional principal amount of approximately $ 3.6 billion on non-recourse debt outstanding at december 31 , 2011 .the swap agreements economically change the variable interest rates on the portion of the debt covered by the notional amounts to fixed rates ranging from approximately 1.44% ( 1.44 % ) to 6.98% ( 6.98 % ) .the option agreements fix interest rates within a range from 1.00% ( 1.00 % ) to 7.00% ( 7.00 % ) .the agreements expire at various dates from 2016 through 2028 .( 3 ) multilateral loans include loans funded and guaranteed by bilaterals , multilaterals , development banks and other similar institutions .( 4 ) non-recourse debt of $ 704 million and $ 945 million as of december 31 , 2011 and 2010 , respectively , was excluded from non-recourse debt and included in current and long-term liabilities of held for sale and discontinued businesses in the accompanying consolidated balance sheets .non-recourse debt as of december 31 , 2011 is scheduled to reach maturity as set forth in the table below : december 31 , annual maturities ( in millions ) .
[['december 31,', 'annual maturities ( in millions )'], ['2012', '$ 2152'], ['2013', '1389'], ['2014', '1697'], ['2015', '851'], ['2016', '2301'], ['thereafter', '7698'], ['total non-recourse debt', '$ 16088']]
as of december 31 , 2011 , aes subsidiaries with facilities under construction had a total of approximately $ 1.4 billion of committed but unused credit facilities available to fund construction and other related costs .excluding these facilities under construction , aes subsidiaries had approximately $ 1.2 billion in a number of available but unused committed revolving credit lines to support their working capital , debt service reserves and other business needs .these credit lines can be used in one or more of the following ways : solely for borrowings ; solely for letters of credit ; or a combination of these uses .the weighted average interest rate on borrowings from these facilities was 14.75% ( 14.75 % ) at december 31 , 2011 .on october 3 , 2011 , dolphin subsidiary ii , inc .( 201cdolphin ii 201d ) , a newly formed , wholly-owned special purpose indirect subsidiary of aes , entered into an indenture ( the 201cindenture 201d ) with wells fargo bank , n.a .( the 201ctrustee 201d ) as part of its issuance of $ 450 million aggregate principal amount of 6.50% ( 6.50 % ) senior notes due 2016 ( the 201c2016 notes 201d ) and $ 800 million aggregate principal amount of 7.25% ( 7.25 % ) senior notes due 2021 ( the 201c7.25% ( 201c7.25 % ) 2021 notes 201d , together with the 2016 notes , the 201cnotes 201d ) to finance the acquisition ( the 201cacquisition 201d ) of dpl .upon closing of the acquisition on november 28 , 2011 , dolphin ii was merged into dpl with dpl being the surviving entity and obligor .the 2016 notes and the 7.25% ( 7.25 % ) 2021 notes are included under 201cnotes and bonds 201d in the non-recourse detail table above .see note 23 2014acquisitions and dispositions for further information .interest on the 2016 notes and the 7.25% ( 7.25 % ) 2021 notes accrues at a rate of 6.50% ( 6.50 % ) and 7.25% ( 7.25 % ) per year , respectively , and is payable on april 15 and october 15 of each year , beginning april 15 , 2012 .prior to september 15 , 2016 with respect to the 2016 notes and july 15 , 2021 with respect to the 7.25% ( 7.25 % ) 2021 notes , dpl may redeem some or all of the 2016 notes or 7.25% ( 7.25 % ) 2021 notes at par , plus a 201cmake-whole 201d amount set forth in .
|
as of december 31 , 2011 , what is the total in billions available under the committed credit facilities?
|
2.6
|
{
"answer": "2.6",
"decimal": 2.6,
"type": "float"
}
| |
notes to consolidated financial statements guarantees of subsidiaries .group inc .fully and unconditionally guarantees the securities issued by gs finance corp. , a wholly-owned finance subsidiary of the group inc .has guaranteed the payment obligations of goldman , sachs & co .( gs&co. ) , gs bank usa and goldman sachs execution & clearing , l.p .( gsec ) , subject to certain exceptions .in november 2008 , the firm contributed subsidiaries into gs bank usa , and group inc .agreed to guarantee the reimbursement of certain losses , including credit-related losses , relating to assets held by the contributed entities .in connection with this guarantee , group inc .also agreed to pledge to gs bank usa certain collateral , including interests in subsidiaries and other illiquid assets .in addition , group inc .guarantees many of the obligations of its other consolidated subsidiaries on a transaction-by- transaction basis , as negotiated with counterparties .group inc .is unable to develop an estimate of the maximum payout under its subsidiary guarantees ; however , because these guaranteed obligations are also obligations of consolidated subsidiaries , group inc . 2019s liabilities as guarantor are not separately disclosed .note 19 .shareholders 2019 equity common equity dividends declared per common share were $ 2.25 in 2014 , $ 2.05 in 2013 and $ 1.77 in 2012 .on january 15 , 2015 , group inc .declared a dividend of $ 0.60 per common share to be paid on march 30 , 2015 to common shareholders of record on march 2 , 2015 .the firm 2019s share repurchase program is intended to help maintain the appropriate level of common equity .the share repurchase program is effected primarily through regular open-market purchases ( which may include repurchase plans designed to comply with rule 10b5-1 ) , the amounts and timing of which are determined primarily by the firm 2019s current and projected capital position , but which may also be influenced by general market conditions and the prevailing price and trading volumes of the firm 2019s common stock .prior to repurchasing common stock , the firm must receive confirmation that the federal reserve board does not object to such capital actions .the table below presents the amount of common stock repurchased by the firm under the share repurchase program during 2014 , 2013 and 2012. .
[['in millions except per share amounts', 'year ended december 2014', 'year ended december 2013', 'year ended december 2012'], ['common share repurchases', '31.8', '39.3', '42.0'], ['average cost per share', '$ 171.79', '$ 157.11', '$ 110.31'], ['total cost of common share repurchases', '$ 5469', '$ 6175', '$ 4637']]
total cost of common share repurchases $ 5469 $ 6175 $ 4637 pursuant to the terms of certain share-based compensation plans , employees may remit shares to the firm or the firm may cancel restricted stock units ( rsus ) or stock options to satisfy minimum statutory employee tax withholding requirements and the exercise price of stock options .under these plans , during 2014 , 2013 and 2012 , employees remitted 174489 shares , 161211 shares and 33477 shares with a total value of $ 31 million , $ 25 million and $ 3 million , and the firm cancelled 5.8 million , 4.0 million and 12.7 million of rsus with a total value of $ 974 million , $ 599 million and $ 1.44 billion .under these plans , the firm also cancelled 15.6 million stock options with a total value of $ 2.65 billion during 2014 .170 goldman sachs 2014 annual report .
|
what was the percentage change in the total cost of common share repurchases between 2012 and 2013?
|
33%
|
{
"answer": "33%",
"decimal": 0.33,
"type": "percentage"
}
| |
f0b7 free cash flow 2013 cash generated by operating activities totaled $ 6.2 billion , reduced by $ 3.6 billion for cash used in investing activities and a 37% ( 37 % ) increase in dividends paid , yielding free cash flow of $ 1.4 billion .free cash flow is defined as cash provided by operating activities ( adjusted for the reclassification of our receivables securitization facility ) , less cash used in investing activities and dividends paid .free cash flow is not considered a financial measure under accounting principles generally accepted in the u.s .( gaap ) by sec regulation g and item 10 of sec regulation s-k and may not be defined and calculated by other companies in the same manner .we believe free cash flow is important to management and investors in evaluating our financial performance and measures our ability to generate cash without additional external financings .free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities .the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : millions 2012 2011 2010 .
[['millions', '2012', '2011', '2010'], ['cash provided by operating activities', '$ 6161', '$ 5873', '$ 4105'], ['receivables securitization facility [a]', '-', '-', '400'], ['cash provided by operating activities adjusted for the receivables securitizationfacility', '6161', '5873', '4505'], ['cash used in investing activities', '-3633 ( 3633 )', '-3119 ( 3119 )', '-2488 ( 2488 )'], ['dividends paid', '-1146 ( 1146 )', '-837 ( 837 )', '-602 ( 602 )'], ['free cash flow', '$ 1382', '$ 1917', '$ 1415']]
[a] effective january 1 , 2010 , a new accounting standard required us to account for receivables transferred under our receivables securitization facility as secured borrowings in our consolidated statements of financial position and as financing activities in our consolidated statements of cash flows .the receivables securitization facility is included in our free cash flow calculation to adjust cash provided by operating activities as though our receivables securitization facility had been accounted for under the new accounting standard for all periods presented .2013 outlook f0b7 safety 2013 operating a safe railroad benefits our employees , our customers , our shareholders , and the communities we serve .we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , quality control , training and employee engagement , and targeted capital investments .we will continue using and expanding the deployment of total safety culture throughout our operations , which allows us to identify and implement best practices for employee and operational safety .derailment prevention and the reduction of grade crossing incidents are critical aspects of our safety programs .we will continue our efforts to increase rail defect detection ; improve or close crossings ; and educate the public and law enforcement agencies about crossing safety through a combination of our own programs ( including risk assessment strategies ) , various industry programs and local community activities across our network .f0b7 network operations 2013 we will continue focusing on our six critical initiatives to improve safety , service and productivity during 2013 .we are seeing solid contributions from reducing variability , continuous improvements , and standard work .resource agility allows us to respond quickly to changing market conditions and network disruptions from weather or other events .the railroad continues to benefit from capital investments that allow us to build capacity for growth and harden our infrastructure to reduce failure .f0b7 fuel prices 2013 uncertainty about the economy makes projections of fuel prices difficult .we again could see volatile fuel prices during the year , as they are sensitive to global and u.s .domestic demand , refining capacity , geopolitical events , weather conditions and other factors .to reduce the impact of fuel price on earnings , we will continue seeking cost recovery from our customers through our fuel surcharge programs and expanding our fuel conservation efforts .f0b7 capital plan 2013 in 2013 , we plan to make total capital investments of approximately $ 3.6 billion , including expenditures for positive train control ( ptc ) , which may be revised if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments .( see further discussion in this item 7 under liquidity and capital resources 2013 capital plan. ) .
|
what percentage of 2012 operating cash flow was used for dividends?
|
18.6%
|
{
"answer": "18.6%",
"decimal": 0.18600000000000003,
"type": "percentage"
}
| |
bhge 2018 form 10-k | 39 outstanding under the commercial paper program .the maximum combined borrowing at any time under both the 2017 credit agreement and the commercial paper program is $ 3 billion .if market conditions were to change and our revenue was reduced significantly or operating costs were to increase , our cash flows and liquidity could be reduced .additionally , it could cause the rating agencies to lower our credit rating .there are no ratings triggers that would accelerate the maturity of any borrowings under our committed credit facility .however , a downgrade in our credit ratings could increase the cost of borrowings under the credit facility and could also limit or preclude our ability to issue commercial paper .should this occur , we could seek alternative sources of funding , including borrowing under the credit facility .during the year ended december 31 , 2018 , we used cash to fund a variety of activities including certain working capital needs and restructuring costs , capital expenditures , the repayment of debt , payment of dividends , distributions to ge and share repurchases .we believe that cash on hand , cash flows generated from operations and the available credit facility will provide sufficient liquidity to manage our global cash needs .cash flows cash flows provided by ( used in ) each type of activity were as follows for the years ended december 31: .
[['( in millions )', '2018', '2017', '2016'], ['operating activities', '$ 1762', '$ -799 ( 799 )', '$ 262'], ['investing activities', '-578 ( 578 )', '-4123 ( 4123 )', '-472 ( 472 )'], ['financing activities', '-4363 ( 4363 )', '10919', '-102 ( 102 )']]
operating activities our largest source of operating cash is payments from customers , of which the largest component is collecting cash related to product or services sales including advance payments or progress collections for work to be performed .the primary use of operating cash is to pay our suppliers , employees , tax authorities and others for a wide range of material and services .cash flows from operating activities generated cash of $ 1762 million and used cash of $ 799 million for the years ended december 31 , 2018 and 2017 , respectively .cash flows from operating activities increased $ 2561 million in 2018 primarily driven by better operating performance .these cash inflows were supported by strong working capital cash flows , especially in the fourth quarter of 2018 , including approximately $ 300 million for a progress collection payment from a customer .included in our cash flows from operating activities for 2018 and 2017 are payments of $ 473 million and $ 612 million , respectively , made primarily for employee severance as a result of our restructuring activities and merger and related costs .cash flows from operating activities used $ 799 million and generated $ 262 million for the years ended december 31 , 2017 and 2016 , respectively .cash flows from operating activities decreased $ 1061 million in 2017 primarily driven by a $ 1201 million negative impact from ending our receivables monetization program in the fourth quarter , and restructuring related payments throughout the year .these cash outflows were partially offset by strong working capital cash flows , especially in the fourth quarter of 2017 .included in our cash flows from operating activities for 2017 and 2016 are payments of $ 612 million and $ 177 million , respectively , made for employee severance as a result of our restructuring activities and merger and related costs .investing activities cash flows from investing activities used cash of $ 578 million , $ 4123 million and $ 472 million for the years ended december 31 , 2018 , 2017 and 2016 , respectively .our principal recurring investing activity is the funding of capital expenditures to ensure that we have the appropriate levels and types of machinery and equipment in place to generate revenue from operations .expenditures for capital assets totaled $ 995 million , $ 665 million and $ 424 million for 2018 , 2017 and 2016 , respectively , partially offset by cash flows from the sale of property , plant and equipment of $ 458 million , $ 172 million and $ 20 million in 2018 , 2017 and 2016 , respectively .proceeds from the disposal of assets related primarily .
|
what are the cash flows from the sale of property , plant and equipment in 2018 as a percentage of cash from operating activities in 2018?
|
26.0%
|
{
"answer": "26.0%",
"decimal": 0.26,
"type": "percentage"
}
| |
notes to consolidated financial statements 236 jpmorgan chase & co./2010 annual report the table below sets forth the accretable yield activity for the firm 2019s pci consumer loans for the years ended december 31 , 2010 , 2009 and .
[['year ended december 31 , ( in millions except ratios )', 'year ended december 31 , 2010', 'year ended december 31 , 2009', '2008'], ['balance january 1', '$ 25544', '$ 32619', '$ 2014'], ['washington mutual acquisition', '2014', '2014', '39454'], ['accretion into interest income', '-3232 ( 3232 )', '-4363 ( 4363 )', '-1292 ( 1292 )'], ['changes in interest rates on variable rate loans', '-819 ( 819 )', '-4849 ( 4849 )', '-5543 ( 5543 )'], ['other changes in expected cash flows ( a )', '-2396 ( 2396 )', '2137', '2014'], ['balance december 31', '$ 19097', '$ 25544', '$ 32619'], ['accretable yield percentage', '4.35% ( 4.35 % )', '5.14% ( 5.14 % )', '5.81% ( 5.81 % )']]
( a ) other changes in expected cash flows may vary from period to period as the firm continues to refine its cash flow model and periodically updates model assumptions .for the years ended december 31 , 2010 and 2009 , other changes in expected cash flows were principally driven by changes in prepayment assumptions , as well as reclassification to the nonaccretable difference .such changes are expected to have an insignificant impact on the accretable yield percentage .the factors that most significantly affect estimates of gross cash flows expected to be collected , and accordingly the accretable yield balance , include : ( i ) changes in the benchmark interest rate indices for variable rate products such as option arm and home equity loans ; and ( ii ) changes in prepayment assump- tions .to date , the decrease in the accretable yield percentage has been primarily related to a decrease in interest rates on vari- able-rate loans and , to a lesser extent , extended loan liquida- tion periods .certain events , such as extended loan liquidation periods , affect the timing of expected cash flows but not the amount of cash expected to be received ( i.e. , the accretable yield balance ) .extended loan liquidation periods reduce the accretable yield percentage because the same accretable yield balance is recognized against a higher-than-expected loan balance over a longer-than-expected period of time. .
|
what was the percentage change in the accretable yield activity for the firm 2019s pci consumer loans in 2010
|
-25.2
|
{
"answer": "-25.2",
"decimal": -25.2,
"type": "float"
}
| |
notional amounts and derivative receivables marked to market ( 201cmtm 201d ) notional amounts ( a ) derivative receivables mtm as of december 31 .
[['as of december 31 , ( in billions )', 'as of december 31 , 2005', 'as of december 31 , 2004', '2005', '2004'], ['interest rate', '$ 38493', '$ 37022', '$ 30', '$ 46'], ['foreign exchange', '2136', '1886', '3', '8'], ['equity', '458', '434', '6', '6'], ['credit derivatives', '2241', '1071', '4', '3'], ['commodity', '265', '101', '7', '3'], ['total', '$ 43593', '$ 40514', '50', '66'], ['collateral held againstderivative receivables', 'na', 'na', '-6 ( 6 )', '-9 ( 9 )'], ['exposure net of collateral', 'na', 'na', '$ 44 ( b )', '$ 57 ( c )']]
( a ) the notional amounts represent the gross sum of long and short third-party notional derivative contracts , excluding written options and foreign exchange spot contracts , which significantly exceed the possible credit losses that could arise from such transactions .for most derivative transactions , the notional principal amount does not change hands ; it is used simply as a reference to calculate payments .( b ) the firm held $ 33 billion of collateral against derivative receivables as of december 31 , 2005 , consisting of $ 27 billion in net cash received under credit support annexes to legally enforceable master netting agreements , and $ 6 billion of other liquid securities collateral .the benefit of the $ 27 billion is reflected within the $ 50 billion of derivative receivables mtm .excluded from the $ 33 billion of collateral is $ 10 billion of collateral delivered by clients at the initiation of transactions ; this collateral secures exposure that could arise in the derivatives portfolio should the mtm of the client 2019s transactions move in the firm 2019s favor .also excluded are credit enhancements in the form of letters of credit and surety receivables .( c ) the firm held $ 41 billion of collateral against derivative receivables as of december 31 , 2004 , consisting of $ 32 billion in net cash received under credit support annexes to legally enforceable master netting agreements , and $ 9 billion of other liquid securities collateral .the benefit of the $ 32 billion is reflected within the $ 66 billion of derivative receivables mtm .excluded from the $ 41 billion of collateral is $ 10 billion of collateral delivered by clients at the initiation of transactions ; this collateral secures exposure that could arise in the derivatives portfolio should the mtm of the client 2019s transactions move in the firm 2019s favor .also excluded are credit enhancements in the form of letters of credit and surety receivables .management 2019s discussion and analysis jpmorgan chase & co .68 jpmorgan chase & co ./ 2005 annual report 1 year 2 years 5 years 10 years mdp avgavgdredre exposure profile of derivatives measures december 31 , 2005 ( in billions ) the following table summarizes the aggregate notional amounts and the reported derivative receivables ( i.e. , the mtm or fair value of the derivative contracts after taking into account the effects of legally enforceable master netting agreements ) at each of the dates indicated : the mtm of derivative receivables contracts represents the cost to replace the contracts at current market rates should the counterparty default .when jpmorgan chase has more than one transaction outstanding with a counter- party , and a legally enforceable master netting agreement exists with that counterparty , the netted mtm exposure , less collateral held , represents , in the firm 2019s view , the appropriate measure of current credit risk .while useful as a current view of credit exposure , the net mtm value of the derivative receivables does not capture the potential future variability of that credit exposure .to capture the potential future variability of credit exposure , the firm calculates , on a client-by-client basis , three measures of potential derivatives-related credit loss : peak , derivative risk equivalent ( 201cdre 201d ) and average exposure ( 201cavg 201d ) .these measures all incorporate netting and collateral benefits , where applicable .peak exposure to a counterparty is an extreme measure of exposure calculated at a 97.5% ( 97.5 % ) confidence level .however , the total potential future credit risk embedded in the firm 2019s derivatives portfolio is not the simple sum of all peak client credit risks .this is because , at the portfolio level , credit risk is reduced by the fact that when offsetting transactions are done with separate counter- parties , only one of the two trades can generate a credit loss , even if both counterparties were to default simultaneously .the firm refers to this effect as market diversification , and the market-diversified peak ( 201cmdp 201d ) measure is a portfolio aggregation of counterparty peak measures , representing the maximum losses at the 97.5% ( 97.5 % ) confidence level that would occur if all coun- terparties defaulted under any one given market scenario and time frame .derivative risk equivalent ( 201cdre 201d ) exposure is a measure that expresses the riskiness of derivative exposure on a basis intended to be equivalent to the riskiness of loan exposures .the measurement is done by equating the unexpected loss in a derivative counterparty exposure ( which takes into consideration both the loss volatility and the credit rating of the counterparty ) with the unexpected loss in a loan exposure ( which takes into consideration only the credit rating of the counterparty ) .dre is a less extreme measure of potential credit loss than peak and is the primary measure used by the firm for credit approval of derivative transactions .finally , average exposure ( 201cavg 201d ) is a measure of the expected mtm value of the firm 2019s derivative receivables at future time periods , including the benefit of collateral .avg exposure over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit capital and the credit valuation adjustment ( 201ccva 201d ) , as further described below .average exposure was $ 36 billion and $ 38 billion at december 31 , 2005 and 2004 , respectively , compared with derivative receivables mtm net of other highly liquid collateral of $ 44 billion and $ 57 billion at december 31 , 2005 and 2004 , respectively .the graph below shows exposure profiles to derivatives over the next 10 years as calculated by the mdp , dre and avg metrics .all three measures generally show declining exposure after the first year , if no new trades were added to the portfolio. .
|
without credit derivatives , what would 2005 total derivatives balance have been , in us$ b?
|
41352
|
{
"answer": "41352",
"decimal": 41352,
"type": "float"
}
| |
stock performance graph the following line-graph presentation compares our cumulative shareholder returns with the standard & poor 2019s information technology index and the standard & poor 2019s 500 stock index for the past five years .the line graph assumes the investment of $ 100 in our common stock , the standard & poor 2019s information technology index , and the standard & poor 2019s 500 stock index on may 31 , 2002 and assumes reinvestment of all dividends .comparison of 5 year cumulative total return* among global payments inc. , the s&p 500 index and the s&p information technology index 5/02 5/03 5/04 5/05 5/06 5/07 global payments inc .s&p 500 s&p information technology * $ 100 invested on 5/31/02 in stock or index-including reinvestment of dividends .fiscal year ending may 31 .global payments s&p 500 information technology .
[['', 'global payments', 's&p 500', 's&p information technology'], ['may 31 2002', '$ 100.00', '$ 100.00', '$ 100.00'], ['may 31 2003', '94.20', '91.94', '94.48'], ['may 31 2004', '129.77', '108.79', '115.24'], ['may 31 2005', '193.30', '117.75', '116.29'], ['may 31 2006', '260.35', '127.92', '117.14'], ['may 31 2007', '224.24', '157.08', '144.11']]
issuer purchases of equity securities on april 5 , 2007 , our board of directors authorized repurchases of our common stock in an amount up to $ 100 million .the board has authorized us to purchase shares from time to time as market conditions permit .there is no expiration date with respect to this authorization .no amounts have been repurchased during the fiscal year ended may 31 , 2007. .
|
in comparison to overall information technology sector , how much percentage would global payments have earned the investor .
|
global payments would have earned an 80.13% greater return than the overall information technology sector .
|
{
"answer": "global payments would have earned an 80.13% greater return than the overall information technology sector .",
"decimal": 0.8012999999999999,
"type": "percentage"
}
|
to calculate how much greater the return was for global payments , one must find the percentage gain of the s&p information technology and global payments . then one must subtract these two percentages to find the change between the two .
|
marathon oil corporation notes to consolidated financial statements stock-based performance unit awards 2013 during 2018 , 2017 and 2016 we granted 754140 , 563631 and 1205517 stock- based performance unit awards to officers .at december 31 , 2018 , there were 1196176 units outstanding .total stock-based performance unit awards expense was $ 13 million in 2018 , $ 8 million in 2017 and $ 6 million in 2016 .the key assumptions used in the monte carlo simulation to determine the fair value of stock-based performance units granted in 2018 , 2017 and 2016 were: .
[['', '2018', '2017', '2016'], ['valuation date stock price', '$ 14.17', '$ 14.17', '$ 14.17'], ['expected annual dividend yield', '1.4% ( 1.4 % )', '1.4% ( 1.4 % )', '1.4% ( 1.4 % )'], ['expected volatility', '39% ( 39 % )', '43% ( 43 % )', '52% ( 52 % )'], ['risk-free interest rate', '2.5% ( 2.5 % )', '2.6% ( 2.6 % )', '2.4% ( 2.4 % )'], ['fair value of stock-based performance units outstanding', '$ 19.60', '$ 19.45', '$ 21.51']]
18 .defined benefit postretirement plans and defined contribution plan we have noncontributory defined benefit pension plans covering substantially all domestic employees , as well as u.k .employees who were hired before april 2010 .certain employees located in e.g. , who are u.s .or u.k .based , also participate in these plans .benefits under these plans are based on plan provisions specific to each plan .for the u.k .pension plan , the principal employer and plan trustees reached a decision to close the plan to future benefit accruals effective december 31 , 2015 .we also have defined benefit plans for other postretirement benefits covering our u.s .employees .health care benefits are provided up to age 65 through comprehensive hospital , surgical and major medical benefit provisions subject to various cost- sharing features .post-age 65 health care benefits are provided to certain u.s .employees on a defined contribution basis .life insurance benefits are provided to certain retiree beneficiaries .these other postretirement benefits are not funded in advance .employees hired after 2016 are not eligible for any postretirement health care or life insurance benefits. .
|
by how much did the fair value of stock-based performance units outstanding decrease from 2016 to 2018?
|
-8.9%
|
{
"answer": "-8.9%",
"decimal": -0.08900000000000001,
"type": "percentage"
}
| |
compared to earlier levels .the pre-tax non-cash impairments of certain mineral rights and real estate discussed above under the caption fffdland and development impairments fffd are not included in segment income .liquidity and capital resources on january 29 , 2018 , we announced that a definitive agreement had been signed for us to acquire all of the outstanding shares of kapstone for $ 35.00 per share and the assumption of approximately $ 1.36 billion in net debt , for a total enterprise value of approximately $ 4.9 billion .in contemplation of the transaction , on march 6 , 2018 , we issued $ 600.0 million aggregate principal amount of 3.75% ( 3.75 % ) senior notes due 2025 and $ 600.0 million aggregate principal amount of 4.0% ( 4.0 % ) senior notes due 2028 in an unregistered offering pursuant to rule 144a and regulation s under the securities act of 1933 , as amended ( the fffdsecurities act fffd ) .in addition , on march 7 , 2018 , we entered into the delayed draw credit facilities ( as hereinafter defined ) that provide for $ 3.8 billion of senior unsecured term loans .on november 2 , 2018 , in connection with the closing of the kapstone acquisition , we drew upon the facility in full .the proceeds of the delayed draw credit facilities ( as hereinafter defined ) and other sources of cash were used to pay the consideration for the kapstone acquisition , to repay certain existing indebtedness of kapstone and to pay fees and expenses incurred in connection with the kapstone acquisition .we fund our working capital requirements , capital expenditures , mergers , acquisitions and investments , restructuring activities , dividends and stock repurchases from net cash provided by operating activities , borrowings under our credit facilities , proceeds from our new a/r sales agreement ( as hereinafter defined ) , proceeds from the sale of property , plant and equipment removed from service and proceeds received in connection with the issuance of debt and equity securities .see fffdnote 13 .debt fffdtt of the notes to consolidated financial statements for additional information .funding for our domestic operations in the foreseeable future is expected to come from sources of liquidity within our domestic operations , including cash and cash equivalents , and available borrowings under our credit facilities .as such , our foreign cash and cash equivalents are not expected to be a key source of liquidity to our domestic operations .at september 30 , 2018 , excluding the delayed draw credit facilities , we had approximately $ 3.2 billion of availability under our committed credit facilities , primarily under our revolving credit facility , the majority of which matures on july 1 , 2022 .this liquidity may be used to provide for ongoing working capital needs and for other general corporate purposes , including acquisitions , dividends and stock repurchases .certain restrictive covenants govern our maximum availability under the credit facilities .we test and report our compliance with these covenants as required and we were in compliance with all of these covenants at september 30 , 2018 .at september 30 , 2018 , we had $ 104.9 million of outstanding letters of credit not drawn cash and cash equivalents were $ 636.8 million at september 30 , 2018 and $ 298.1 million at september 30 , 2017 .we used a significant portion of the cash and cash equivalents on hand at september 30 , 2018 in connection with the closing of the kapstone acquisition .approximately 20% ( 20 % ) of the cash and cash equivalents at september 30 , 2018 were held outside of the u.s .at september 30 , 2018 , total debt was $ 6415.2 million , $ 740.7 million of which was current .at september 30 , 2017 , total debt was $ 6554.8 million , $ 608.7 million of which was current .cash flow activityy .
[['( in millions )', 'year ended september 30 , 2018', 'year ended september 30 , 2017', 'year ended september 30 , 2016'], ['net cash provided by operating activities', '$ 2420.9', '$ 1900.5', '$ 1688.4'], ['net cash used for investing activities', '$ -1298.9 ( 1298.9 )', '$ -1285.8 ( 1285.8 )', '$ -1351.4 ( 1351.4 )'], ['net cash used for financing activities', '$ -755.1 ( 755.1 )', '$ -655.4 ( 655.4 )', '$ -231.0 ( 231.0 )']]
net cash provided by operating activities during fiscal 2018 increased $ 520.4 million from fiscal 2017 primarily due to higher cash earnings and lower cash taxes due to the impact of the tax act .net cash provided by operating activities during fiscal 2017 increased $ 212.1 million from fiscal 2016 primarily due to a $ 111.6 million net increase in cash flow from working capital changes plus higher after-tax cash proceeds from our land and development segment fffds accelerated monetization .the changes in working capital in fiscal 2018 , 2017 and 2016 included a .
|
in 2018 what was the net change in the cash in millions
|
366.9
|
{
"answer": "366.9",
"decimal": 366.9,
"type": "float"
}
| |
devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) debt maturities as of december 31 , 2013 , excluding premiums and discounts , are as follows ( in millions ) : .
[['2014', '$ 4067'], ['2015', '2014'], ['2016', '500'], ['2017', '750'], ['2018', '125'], ['2019 and thereafter', '6600'], ['total', '$ 12042']]
credit lines devon has a $ 3.0 billion syndicated , unsecured revolving line of credit ( the 201csenior credit facility 201d ) that matures on october 24 , 2018 .however , prior to the maturity date , devon has the option to extend the maturity for up to one additional one-year period , subject to the approval of the lenders .amounts borrowed under the senior credit facility may , at the election of devon , bear interest at various fixed rate options for periods of up to twelve months .such rates are generally less than the prime rate .however , devon may elect to borrow at the prime rate .the senior credit facility currently provides for an annual facility fee of $ 3.8 million that is payable quarterly in arrears .as of december 31 , 2013 , there were no borrowings under the senior credit facility .the senior credit facility contains only one material financial covenant .this covenant requires devon 2019s ratio of total funded debt to total capitalization , as defined in the credit agreement , to be no greater than 65 percent .the credit agreement contains definitions of total funded debt and total capitalization that include adjustments to the respective amounts reported in the accompanying financial statements .also , total capitalization is adjusted to add back noncash financial write-downs such as full cost ceiling impairments or goodwill impairments .as of december 31 , 2013 , devon was in compliance with this covenant with a debt-to- capitalization ratio of 25.7 percent .commercial paper devon has access to $ 3.0 billion of short-term credit under its commercial paper program .commercial paper debt generally has a maturity of between 1 and 90 days , although it can have a maturity of up to 365 days , and bears interest at rates agreed to at the time of the borrowing .the interest rate is generally based on a standard index such as the federal funds rate , libor , or the money market rate as found in the commercial paper market .as of december 31 , 2013 , devon 2019s weighted average borrowing rate on its commercial paper borrowings was 0.30 percent .other debentures and notes following are descriptions of the various other debentures and notes outstanding at december 31 , 2013 , as listed in the table presented at the beginning of this note .geosouthern debt in december 2013 , in conjunction with the planned geosouthern acquisition , devon issued $ 2.25 billion aggregate principal amount of fixed and floating rate senior notes resulting in cash proceeds of approximately .
|
based on the december 31 , 2013 , devon 2019s weighted average borrowing rate on its commercial paper borrowings what was the potential value of its commercial paper asset in billions
|
0.9
|
{
"answer": "0.9",
"decimal": 0.9,
"type": "float"
}
| |
table of contents the following table presents certain payments due by the company under contractual obligations with minimum firm commitments as of september 28 , 2013 and excludes amounts already recorded on the consolidated balance sheet , except for long-term debt ( in millions ) : lease commitments the company 2019s major facility leases are typically for terms not exceeding 10 years and generally provide renewal options for terms not exceeding five additional years .leases for retail space are for terms ranging from five to 20 years , the majority of which are for 10 years , and often contain multi-year renewal options .as of september 28 , 2013 , the company 2019s total future minimum lease payments under noncancelable operating leases were $ 4.7 billion , of which $ 3.5 billion related to leases for retail space .purchase commitments with outsourcing partners and component suppliers the company utilizes several outsourcing partners to manufacture sub-assemblies for the company 2019s products and to perform final assembly and testing of finished products .these outsourcing partners acquire components and build product based on demand information supplied by the company , which typically covers periods up to 150 days .the company also obtains individual components for its products from a wide variety of individual suppliers .consistent with industry practice , the company acquires components through a combination of purchase orders , supplier contracts , and open orders based on projected demand information .where appropriate , the purchases are applied to inventory component prepayments that are outstanding with the respective supplier .as of september 28 , 2013 , the company had outstanding off-balance sheet third- party manufacturing commitments and component purchase commitments of $ 18.6 billion .other obligations in addition to the off-balance sheet commitments mentioned above , the company had outstanding obligations of $ 1.3 billion as of september 28 , 2013 , that consisted mainly of commitments to acquire capital assets , including product tooling and manufacturing process equipment , and commitments related to advertising , research and development , internet and telecommunications services and other obligations .the company 2019s other non-current liabilities in the consolidated balance sheets consist primarily of deferred tax liabilities , gross unrecognized tax benefits and the related gross interest and penalties .as of september 28 , 2013 , the company had non-current deferred tax liabilities of $ 16.5 billion .additionally , as of september 28 , 2013 , the company had gross unrecognized tax benefits of $ 2.7 billion and an additional $ 590 million for gross interest and penalties classified as non-current liabilities .at this time , the company is unable to make a reasonably reliable estimate of the timing of payments in individual years in connection with these tax liabilities ; therefore , such amounts are not included in the above contractual obligation table .indemnification the company generally does not indemnify end-users of its operating system and application software against legal claims that the software infringes third-party intellectual property rights .other agreements entered into by payments due in than 1 payments due in payments due in payments due in than 5 years total .
[['', 'payments due in less than1 year', 'payments due in 1-3 years', 'payments due in 4-5 years', 'payments due in more than5 years', 'total'], ['long-term debt', '$ 0', '$ 2500', '$ 6000', '$ 8500', '$ 17000'], ['operating leases', '610', '1200', '1056', '1855', '4721'], ['purchase obligations', '18616', '0', '0', '0', '18616'], ['other obligations', '1081', '248', '16', '3', '1348'], ['total', '$ 20307', '$ 3948', '$ 7072', '$ 10358', '$ 41685']]
.
|
as of september 28 , 2013 , the company had non-current deferred tax liabilities of $ 16.5 billion . what was the difference between this and the balance of gross unrecognized tax benefits , in billions?
|
13.8
|
{
"answer": "13.8",
"decimal": 13.8,
"type": "float"
}
| |
stock price performance the following graph shows a comparison of the cumulative total return on our common stock , the standard & poor 2019s 500 index and the standard & poor 2019s retail index .the graph assumes that the value of an investment in our common stock and in each such index was $ 100 on january 3 , 2009 , and that any dividends have been reinvested .the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock .comparison of cumulative total return among advance auto parts , inc. , s&p 500 index and s&p retail index company/index january 3 , january 2 , january 1 , december 31 , december 29 , december 28 .
[['company/index', 'january 3 2009', 'january 2 2010', 'january 1 2011', 'december 31 2011', 'december 29 2012', 'december 28 2013'], ['advance auto parts', '$ 100.00', '$ 119.28', '$ 195.80', '$ 206.86', '$ 213.14', '$ 327.63'], ['s&p 500 index', '100.00', '119.67', '134.97', '134.96', '150.51', '197.62'], ['s&p retail index', '100.00', '141.28', '174.70', '179.79', '219.77', '321.02']]
.
|
what is the total return for every dollar invested in advanced auto parts in january 2009 and sold in january 2011?
|
0.96
|
{
"answer": "0.96",
"decimal": 0.96,
"type": "float"
}
| |
the pnc financial services group , inc .2013 form 10-k 65 liquidity and capital management liquidity risk has two fundamental components .the first is potential loss assuming we were unable to meet our funding requirements at a reasonable cost .the second is the potential inability to operate our businesses because adequate contingent liquidity is not available .we manage liquidity risk at the consolidated company level ( bank , parent company and nonbank subsidiaries combined ) to help ensure that we can obtain cost-effective funding to meet current and future obligations under both normal 201cbusiness as usual 201d and stressful circumstances , and to help ensure that we maintain an appropriate level of contingent liquidity .management monitors liquidity through a series of early warning indicators that may indicate a potential market , or pnc-specific , liquidity stress event .in addition , management performs a set of liquidity stress tests over multiple time horizons with varying levels of severity and maintains a contingency funding plan to address a potential liquidity stress event .in the most severe liquidity stress simulation , we assume that our liquidity position is under pressure , while the market in general is under systemic pressure .the simulation considers , among other things , the impact of restricted access to both secured and unsecured external sources of funding , accelerated run-off of customer deposits , valuation pressure on assets and heavy demand to fund committed obligations .parent company liquidity guidelines are designed to help ensure that sufficient liquidity is available to meet our parent company obligations over the succeeding 24-month period .liquidity-related risk limits are established within our enterprise liquidity management policy and supporting policies .management committees , including the asset and liability committee , and the board of directors and its risk committee regularly review compliance with key established limits .in addition to these liquidity monitoring measures and tools described above , we also monitor our liquidity by reference to the liquidity coverage ratio ( lcr ) which is further described in the supervision and regulation section in item 1 of this report .pnc and pnc bank calculate the lcr on a daily basis and as of december 31 , 2018 , the lcr for pnc and pnc bank exceeded the fully phased-in requirement of 100% ( 100 % ) .we provide additional information regarding regulatory liquidity requirements and their potential impact on us in the supervision and regulation section of item 1 business and item 1a risk factors of this report .sources of liquidity our largest source of liquidity on a consolidated basis is the customer deposit base generated by our banking businesses .these deposits provide relatively stable and low-cost funding .total deposits increased to $ 267.8 billion at december 31 , 2018 from $ 265.1 billion at december 31 , 2017 driven by growth in interest-bearing deposits partially offset by a decrease in noninterest-bearing deposits .see the funding sources section of the consolidated balance sheet review in this report for additional information related to our deposits .additionally , certain assets determined by us to be liquid as well as unused borrowing capacity from a number of sources are also available to manage our liquidity position .at december 31 , 2018 , our liquid assets consisted of short-term investments ( federal funds sold , resale agreements , trading securities and interest-earning deposits with banks ) totaling $ 22.1 billion and securities available for sale totaling $ 63.4 billion .the level of liquid assets fluctuates over time based on many factors , including market conditions , loan and deposit growth and balance sheet management activities .our liquid assets included $ 2.7 billion of securities available for sale and trading securities pledged as collateral to secure public and trust deposits , repurchase agreements and for other purposes .in addition , $ 4.9 billion of securities held to maturity were also pledged as collateral for these purposes .we also obtain liquidity through various forms of funding , including long-term debt ( senior notes , subordinated debt and fhlb borrowings ) and short-term borrowings ( securities sold under repurchase agreements , commercial paper and other short-term borrowings ) .see note 10 borrowed funds and the funding sources section of the consolidated balance sheet review in this report for additional information related to our borrowings .total senior and subordinated debt , on a consolidated basis , decreased due to the following activity : table 24 : senior and subordinated debt .
[['in billions', '2018'], ['january 1', '$ 33.3'], ['issuances', '4.5'], ['calls and maturities', '-6.8 ( 6.8 )'], ['other', '-.1 ( .1 )'], ['december 31', '$ 30.9']]
.
|
at december 31 , 2018what was the liquid assets consisted made of short-term investments
|
25.8%
|
{
"answer": "25.8%",
"decimal": 0.258,
"type": "percentage"
}
| |
( 2 ) for purposes of calculating the ratio of earnings to fixed charges , earnings consist of earnings before income taxes minus income from equity investees plus fixed charges .fixed charges consist of interest expense and the portion of rental expense we believe is representative of the interest component of rental expense .( a ) for the years ended december 31 , 2010 and 2009 , earnings available for fixed charges were inadequate to cover fixed charges by $ 37.0 million and $ 461.2 million , respectively .( 3 ) ebitda is defined as consolidated net income ( loss ) before interest expense , income tax expense ( benefit ) , depreciation , and amortization .adjusted ebitda , which is a measure defined in our credit agreements , is calculated by adjusting ebitda for certain items of income and expense including ( but not limited to ) the following : ( a ) non-cash equity-based compensation ; ( b ) goodwill impairment charges ; ( c ) sponsor fees ; ( d ) certain consulting fees ; ( e ) debt-related legal and accounting costs ; ( f ) equity investment income and losses ; ( g ) certain severance and retention costs ; ( h ) gains and losses from the early extinguishment of debt ; ( i ) gains and losses from asset dispositions outside the ordinary course of business ; and ( j ) non-recurring , extraordinary or unusual gains or losses or expenses .we have included a reconciliation of ebitda and adjusted ebitda in the table below .both ebitda and adjusted ebitda are considered non-gaap financial measures .generally , a non-gaap financial measure is a numerical measure of a company 2019s performance , financial position or cash flows that either excludes or includes amounts that are not normally included or excluded in the most directly comparable measure calculated and presented in accordance with gaap .non-gaap measures used by the company may differ from similar measures used by other companies , even when similar terms are used to identify such measures .we believe that ebitda and adjusted ebitda provide helpful information with respect to our operating performance and cash flows including our ability to meet our future debt service , capital expenditures and working capital requirements .adjusted ebitda also provides helpful information as it is the primary measure used in certain financial covenants contained in our credit agreements .the following unaudited table sets forth reconciliations of net income ( loss ) to ebitda and ebitda to adjusted ebitda for the periods presented: .
[['( in millions )', 'years ended december 31 , 2013', 'years ended december 31 , 2012', 'years ended december 31 , 2011', 'years ended december 31 , 2010', 'years ended december 31 , 2009'], ['net income ( loss )', '$ 132.8', '$ 119.0', '$ 17.1', '$ -29.2 ( 29.2 )', '$ -373.4 ( 373.4 )'], ['depreciation and amortization', '208.2', '210.2', '204.9', '209.4', '218.2'], ['income tax expense ( benefit )', '62.7', '67.1', '11.2', '-7.8 ( 7.8 )', '-87.8 ( 87.8 )'], ['interest expense net', '250.1', '307.4', '324.2', '391.9', '431.7'], ['ebitda', '653.8', '703.7', '557.4', '564.3', '188.7'], ['non-cash equity-based compensation', '8.6', '22.1', '19.5', '11.5', '15.9'], ['sponsor fees', '2.5', '5.0', '5.0', '5.0', '5.0'], ['consulting and debt-related professional fees', '0.1', '0.6', '5.1', '15.1', '14.1'], ['goodwill impairment', '2014', '2014', '2014', '2014', '241.8'], ['net loss ( gain ) on extinguishments of long-term debt', '64.0', '17.2', '118.9', '-2.0 ( 2.0 )', '2014'], ['litigation net ( i )', '-4.1 ( 4.1 )', '4.3', '2014', '2014', '2014'], ['ipo- and secondary-offering related expenses', '75.0', '2014', '2014', '2014', '2014'], ['other adjustments ( ii )', '8.6', '13.7', '11.4', '7.9', '-0.1 ( 0.1 )'], ['adjusted ebitda', '$ 808.5', '$ 766.6', '$ 717.3', '$ 601.8', '$ 465.4']]
( i ) relates to unusual , non-recurring litigation matters .( ii ) includes certain retention costs and equity investment income , certain severance costs in 2009 and a gain related to the sale of the informacast software and equipment in 2009. .
|
what was the 2012 effective tax rate?
|
36%
|
{
"answer": "36%",
"decimal": 0.36,
"type": "percentage"
}
| |
sales of unregistered securities not applicable .repurchases of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2017 to december 31 , 2017 .total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 .
[['', 'total number ofshares ( or units ) purchased1', 'average price paidper share ( or unit ) 2', 'total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3', 'maximum number ( orapproximate dollar value ) of shares ( or units ) that may yet be purchasedunder the plans orprograms3'], ['october 1 - 31', '1231868', '$ 20.74', '1230394', '$ 214001430'], ['november 1 - 30', '1723139', '$ 18.89', '1722246', '$ 181474975'], ['december 1 - 31', '1295639', '$ 20.25', '1285000', '$ 155459545'], ['total', '4250646', '$ 19.84', '4237640', '']]
1 included shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) .we repurchased 1474 withheld shares in october 2017 , 893 withheld shares in november 2017 and 10639 withheld shares in december 2017 , for a total of 13006 withheld shares during the three-month period .2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum of the applicable period of the aggregate value of the tax withholding obligations and the aggregate amount we paid for shares acquired under our share repurchase program , described in note 5 to the consolidated financial statements , by the sum of the number of withheld shares and the number of shares acquired in our share repurchase program .3 in february 2017 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2017 share repurchase program 201d ) .on february 14 , 2018 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock .the new authorization is in addition to any amounts remaining for repurchase under the 2017 share repurchase program .there is no expiration date associated with the share repurchase programs. .
|
what portion of the total repurchase of share has occurred during november?
|
40.5%
|
{
"answer": "40.5%",
"decimal": 0.405,
"type": "percentage"
}
| |
58| | duke realty corporation annual report 2009 we recognized a loss of $ 1.1 million upon acquisition , which represents the difference between the fair value of the recognized assets and the carrying value of our pre-existing equity interest .the acquisition date fair value of the net recognized assets as compared to the acquisition date carrying value of our outstanding advances and accrued interest , as well as the acquisition date carrying value of our pre-existing equity interests , is shown as follows ( in thousands ) : .
[['net fair value of acquired assets and liabilities', '$ 206852'], ['less advances to acquired entities eliminated upon consolidation', '-173006 ( 173006 )'], ['less acquisition date carrying value of equity in acquired entities', '-34908 ( 34908 )'], ['loss on business combination', '$ -1062 ( 1062 )']]
since april 1 , 2009 , the results of operations for both acquired entities have been included in continuing operations in our consolidated financial statements .due to our significant pre-existing ownership and financing positions in the two acquired entities , the inclusion of their results of operations did not have a material effect on our operating income .acquisitions we acquired income producing real estate related assets of $ 32.1 million , $ 60.5 million and $ 219.9 million in 2009 , 2008 and 2007 , respectively .in december 2007 , in order to further establish our property positions around strategic port locations , we purchased a portfolio of five industrial buildings in seattle , virginia and houston , as well as approximately 161 acres of undeveloped land and a 12-acre container storage facility in houston .the total price was $ 89.7 million and was financed in part through assumption of secured debt that had a fair value of $ 34.3 million .of the total purchase price , $ 64.1 million was allocated to in-service real estate assets , $ 20.0 million was allocated to undeveloped land and the container storage facility , $ 5.4 million was allocated to lease related intangible assets , and the remaining amount was allocated to acquired working capital related assets and liabilities .the results of operations for the acquired properties since the date of acquisition have been included in continuing rental operations in our consolidated financial statements .all other acquisitions were not individually material .dispositions we disposed of income producing real estate related assets with gross proceeds of $ 267.0 million , $ 426.2 million and $ 590.4 million in 2009 , 2008 and 2007 , respectively .we sold five properties in 2009 and seven properties in 2008 to an unconsolidated joint venture .the gross proceeds totaled $ 84.3 million and $ 226.2 million for the years ended december 31 , 2009 and 2008 , respectively .in march 2007 , as part of our capital recycling program , we sold a portfolio of eight suburban office properties totaling 894000 square feet in the cleveland market .the sales price totaled $ 140.4 million , of which we received net proceeds of $ 139.3 million .we also sold a portfolio of twelve flex and light industrial properties in july 2007 , totaling 865000 square feet in the st .louis market , for a sales price of $ 65.0 million , of which we received net proceeds of $ 64.2 million .all other dispositions were not individually material .( 4 ) related party transactions we provide property management , leasing , construction and other tenant related services to unconsolidated companies in which we have equity interests .for the years ended december 31 , 2009 , 2008 and 2007 , respectively , we earned management fees of $ 8.4 million , $ 7.8 million and $ 7.1 million , leasing fees of $ 4.2 million , $ 2.8 million and $ 4.2 million and construction and development fees of $ 10.2 million , $ 12.7 million and $ 13.1 million from these companies .we recorded these fees based on contractual terms that approximate market rates for these types of .
|
what was the ratio of the net fair value of acquired assets and liabilities to the advances and equity
|
0.994
|
{
"answer": "0.994",
"decimal": 0.994,
"type": "float"
}
|
the net fair value of the assets and liabilities was less that the advances and equity assumed in the transaction at 0.99 to 1
|
deferred tax assets and liabilities are recorded in the accompanying consolidated balance sheet under the captions deferred income tax assets , deferred charges and other assets , other accrued liabilities and deferred income taxes .the decrease in 2009 in deferred tax assets principally relates to the tax impact of changes in recorded qualified pension liabilities , minimum tax credit utilization and an increase in the valuation allowance .the decrease in deferred income tax liabilities principally relates to less tax depreciation taken on the company 2019s assets purchased in 2009 .the valuation allowance for deferred tax assets as of december 31 , 2008 was $ 72 million .the net change in the total valuation allowance for the year ended december 31 , 2009 , was an increase of $ 274 million .the increase of $ 274 million consists primarily of : ( 1 ) $ 211 million related to the company 2019s french operations , including a valuation allowance of $ 55 million against net deferred tax assets from current year operations and $ 156 million recorded in the second quarter of 2009 for the establishment of a valuation allowance against previously recorded deferred tax assets , ( 2 ) $ 10 million for net deferred tax assets arising from the company 2019s united king- dom current year operations , and ( 3 ) $ 47 million related to a reduction of previously recorded u.s .state deferred tax assets , including $ 15 million recorded in the fourth quarter of 2009 for louisiana recycling credits .the effect on the company 2019s effec- tive tax rate of the aforementioned $ 211 million and $ 10 million is included in the line item 201ctax rate and permanent differences on non-u.s .earnings . 201d international paper adopted the provisions of new guidance under asc 740 , 201cincome taxes , 201d on jan- uary 1 , 2007 related to uncertain tax positions .as a result of the implementation of this new guidance , the company recorded a charge to the beginning balance of retained earnings of $ 94 million , which was accounted for as a reduction to the january 1 , 2007 balance of retained earnings .a reconciliation of the beginning and ending amount of unrecognized tax benefits for the year ending december 31 , 2009 and 2008 is as follows : in millions 2009 2008 2007 .
[['in millions', '2009', '2008', '2007'], ['balance at january 1', '$ -435 ( 435 )', '$ -794 ( 794 )', '-919 ( 919 )'], ['additions based on tax positions related to current year', '-28 ( 28 )', '-14 ( 14 )', '-12 ( 12 )'], ['additions for tax positions of prior years', '-82 ( 82 )', '-66 ( 66 )', '-30 ( 30 )'], ['reductions for tax positions of prior years', '72', '67', '74'], ['settlements', '174', '352', '112'], ['expiration of statutes of limitations', '2', '3', '5'], ['currency translation adjustment', '-11 ( 11 )', '17', '-24 ( 24 )'], ['balance at december 31', '$ -308 ( 308 )', '$ -435 ( 435 )', '$ -794 ( 794 )']]
included in the balance at december 31 , 2009 and 2008 are $ 56 million and $ 9 million , respectively , for tax positions for which the ultimate benefits are highly certain , but for which there is uncertainty about the timing of such benefits .however , except for the possible effect of any penalties , any dis- allowance that would change the timing of these benefits would not affect the annual effective tax rate , but would accelerate the payment of cash to the taxing authority to an earlier period .the company accrues interest on unrecognized tax benefits as a component of interest expense .penal- ties , if incurred , are recognized as a component of income tax expense .the company had approx- imately $ 95 million and $ 74 million accrued for the payment of estimated interest and penalties asso- ciated with unrecognized tax benefits at december 31 , 2009 and 2008 , respectively .the major jurisdictions where the company files income tax returns are the united states , brazil , france , poland and russia .generally , tax years 2002 through 2009 remain open and subject to examina- tion by the relevant tax authorities .the company is typically engaged in various tax examinations at any given time , both in the united states and overseas .currently , the company is engaged in discussions with the u.s .internal revenue service regarding the examination of tax years 2006 and 2007 .as a result of these discussions , other pending tax audit settle- ments , and the expiration of statutes of limitation , the company currently estimates that the amount of unrecognized tax benefits could be reduced by up to $ 125 million during the next twelve months .during 2009 , unrecognized tax benefits decreased by $ 127 million .while the company believes that it is adequately accrued for possible audit adjustments , the final resolution of these examinations cannot be determined at this time and could result in final settlements that differ from current estimates .the company 2019s 2009 income tax provision of $ 469 million included $ 279 million related to special items and other charges , consisting of a $ 534 million tax benefit related to restructuring and other charges , a $ 650 million tax expense for the alternative fuel mixture credit , and $ 163 million of tax-related adjustments including a $ 156 million tax expense to establish a valuation allowance for net operating loss carryforwards in france , a $ 26 million tax benefit for the effective settlement of federal tax audits , a $ 15 million tax expense to establish a valuation allow- ance for louisiana recycling credits , and $ 18 million of other income tax adjustments .excluding the impact of special items , the tax provision was .
|
what was the change in unrecognized tax benefits between 2008 and 2009?
|
127
|
{
"answer": "127",
"decimal": 127,
"type": "float"
}
| |
notes to consolidated financial statements j.p .morgan chase & co .98 j.p .morgan chase & co ./ 2003 annual report securities financing activities jpmorgan chase enters into resale agreements , repurchase agreements , securities borrowed transactions and securities loaned transactions primarily to finance the firm 2019s inventory positions , acquire securities to cover short positions and settle other securities obligations .the firm also enters into these transactions to accommodate customers 2019 needs .securities purchased under resale agreements ( 201cresale agreements 201d ) and securities sold under repurchase agreements ( 201crepurchase agreements 201d ) are generally treated as collateralized financing transactions and are carried on the consolidated bal- ance sheet at the amounts the securities will be subsequently sold or repurchased , plus accrued interest .where appropriate , resale and repurchase agreements with the same counterparty are reported on a net basis in accordance with fin 41 .jpmorgan chase takes possession of securities purchased under resale agreements .on a daily basis , jpmorgan chase monitors the market value of the underlying collateral received from its counterparties , consisting primarily of u.s .and non-u.s .govern- ment and agency securities , and requests additional collateral from its counterparties when necessary .similar transactions that do not meet the sfas 140 definition of a repurchase agreement are accounted for as 201cbuys 201d and 201csells 201d rather than financing transactions .these transactions are accounted for as a purchase ( sale ) of the underlying securities with a forward obligation to sell ( purchase ) the securities .the forward purchase ( sale ) obligation , a derivative , is recorded on the consolidated balance sheet at its fair value , with changes in fair value recorded in trading revenue .notional amounts of these transactions accounted for as purchases under sfas 140 were $ 15 billion and $ 8 billion at december 31 , 2003 and 2002 , respectively .notional amounts of these transactions accounted for as sales under sfas 140 were $ 8 billion and $ 13 billion at december 31 , 2003 and 2002 , respectively .based on the short-term duration of these contracts , the unrealized gain or loss is insignificant .securities borrowed and securities lent are recorded at the amount of cash collateral advanced or received .securities bor- rowed consist primarily of government and equity securities .jpmorgan chase monitors the market value of the securities borrowed and lent on a daily basis and calls for additional col- lateral when appropriate .fees received or paid are recorded in interest income or interest expense. .
[['december 31 ( in millions )', '2003', '2002'], ['securities purchased under resale agreements', '$ 62801', '$ 57645'], ['securities borrowed', '41834', '34143'], ['securities sold under repurchase agreements', '$ 105409', '$ 161394'], ['securities loaned', '2461', '1661']]
note 10 jpmorgan chase pledges certain financial instruments it owns to collateralize repurchase agreements and other securities financ- ings .pledged securities that can be sold or repledged by the secured party are identified as financial instruments owned ( pledged to various parties ) on the consolidated balance sheet .at december 31 , 2003 , the firm had received securities as col- lateral that can be repledged , delivered or otherwise used with a fair value of approximately $ 210 billion .this collateral was gen- erally obtained under resale or securities-borrowing agreements .of these securities , approximately $ 197 billion was repledged , delivered or otherwise used , generally as collateral under repur- chase agreements , securities-lending agreements or to cover short sales .notes to consolidated financial statements j.p .morgan chase & co .loans are reported at the principal amount outstanding , net of the allowance for loan losses , unearned income and any net deferred loan fees .loans held for sale are carried at the lower of aggregate cost or fair value .loans are classified as 201ctrading 201d for secondary market trading activities where positions are bought and sold to make profits from short-term movements in price .loans held for trading purposes are included in trading assets and are carried at fair value , with the gains and losses included in trading revenue .interest income is recognized using the interest method , or on a basis approximating a level rate of return over the term of the loan .nonaccrual loans are those on which the accrual of interest is discontinued .loans ( other than certain consumer loans discussed below ) are placed on nonaccrual status immediately if , in the opinion of management , full payment of principal or interest is in doubt , or when principal or interest is 90 days or more past due and collateral , if any , is insufficient to cover prin- cipal and interest .interest accrued but not collected at the date a loan is placed on nonaccrual status is reversed against interest income .in addition , the amortization of net deferred loan fees is suspended .interest income on nonaccrual loans is recognized only to the extent it is received in cash .however , where there is doubt regarding the ultimate collectibility of loan principal , all cash thereafter received is applied to reduce the carrying value of the loan .loans are restored to accrual status only when interest and principal payments are brought current and future payments are reasonably assured .consumer loans are generally charged to the allowance for loan losses upon reaching specified stages of delinquency , in accor- dance with the federal financial institutions examination council ( 201cffiec 201d ) policy .for example , credit card loans are charged off at the earlier of 180 days past due or within 60 days from receiving notification of the filing of bankruptcy .residential mortgage products are generally charged off to net realizable value at 180 days past due .other consumer products are gener- ally charged off ( to net realizable value if collateralized ) at 120 days past due .accrued interest on residential mortgage products , automobile financings and certain other consumer loans are accounted for in accordance with the nonaccrual loan policy note 11 .
|
what was the ratio of the accounted for as purchases under sfas 14 in 2003 to 2002
|
1.875
|
{
"answer": "1.875",
"decimal": 1.875,
"type": "float"
}
| |
acquisition added approximately 1700 water customers and nearly 2000 wastewater customers .the tex as assets served approximately 4200 water and 1100 wastewater customers in the greater houston metropolitan as noted above , as a result of these sales , these regulated subsidiaries are presented as discontinued operations for all periods presented .therefore , the amounts , statistics and tables presented in this section refer only to on-going operations , unless otherwise noted .the following table sets forth our regulated businesses operating revenue for 2013 and number of customers from continuing operations as well as an estimate of population served as of december 31 , 2013 : operating revenues ( in millions ) % ( % ) of total number of customers % ( % ) of total estimated population served ( in millions ) % ( % ) of total .
[['new jersey', 'operatingrevenues ( in millions ) $ 638.0', '% ( % ) of total 24.6% ( 24.6 % )', 'number ofcustomers 647168', '% ( % ) of total 20.1% ( 20.1 % )', 'estimatedpopulationserved ( in millions ) 2.5', '% ( % ) of total 21.7% ( 21.7 % )'], ['pennsylvania', '571.2', '22.0% ( 22.0 % )', '666947', '20.7% ( 20.7 % )', '2.1', '18.3% ( 18.3 % )'], ['missouri', '264.8', '10.2% ( 10.2 % )', '464232', '14.4% ( 14.4 % )', '1.5', '13.1% ( 13.1 % )'], ['illinois ( a )', '261.7', '10.1% ( 10.1 % )', '311464', '9.7% ( 9.7 % )', '1.2', '10.4% ( 10.4 % )'], ['california', '209.5', '8.1% ( 8.1 % )', '173986', '5.4% ( 5.4 % )', '0.6', '5.2% ( 5.2 % )'], ['indiana', '199.2', '7.7% ( 7.7 % )', '293345', '9.1% ( 9.1 % )', '1.2', '10.4% ( 10.4 % )'], ['west virginia ( b )', '124.2', '4.8% ( 4.8 % )', '173208', '5.4% ( 5.4 % )', '0.6', '5.2% ( 5.2 % )'], ['subtotal ( top seven states )', '2268.6', '87.5% ( 87.5 % )', '2730350', '84.8% ( 84.8 % )', '9.7', '84.3% ( 84.3 % )'], ['other ( c )', '325.3', '12.5% ( 12.5 % )', '489149', '15.2% ( 15.2 % )', '1.8', '15.7% ( 15.7 % )'], ['total regulated businesses', '$ 2593.9', '100.0% ( 100.0 % )', '3219499', '100.0% ( 100.0 % )', '11.5', '100.0% ( 100.0 % )']]
( a ) includes illinois-american water company , which we refer to as ilawc and american lake water company , also a regulated subsidiary in illinois .( b ) west virginia-american water company , which we refer to as wvawc , and its subsidiary bluefield valley water works company .( c ) includes data from our operating subsidiaries in the following states : georgia , hawaii , iowa , kentucky , maryland , michigan , new york , tennessee , and virginia .approximately 87.5 % ( % ) of operating revenue from our regulated businesses in 2013 was generated from approximately 2.7 million customers in our seven largest states , as measured by operating revenues .in fiscal year 2013 , no single customer accounted for more than 10% ( 10 % ) of our annual operating revenue .overview of networks , facilities and water supply our regulated businesses operate in approximately 1500 communities in 16 states in the united states .our primary operating assets include 87 dams along with approximately 80 surface water treatment plants , 500 groundwater treatment plants , 1000 groundwater wells , 100 wastewater treatment facilities , 1200 treated water storage facilities , 1300 pumping stations , and 47000 miles of mains and collection pipes .our regulated utilities own substantially all of the assets used by our regulated businesses .we generally own the land and physical assets used to store , extract and treat source water .typically , we do not own the water itself , which is held in public trust and is allocated to us through contracts and allocation rights granted by federal and state agencies or through the ownership of water rights pursuant to local law .maintaining the reliability of our networks is a key activity of our regulated businesses .we have ongoing infrastructure renewal programs in all states in which our regulated businesses operate .these programs consist of both rehabilitation of existing mains and replacement of mains that have reached the end of their useful service lives .our ability to meet the existing and future water demands of our customers depends on an adequate supply of water .drought , governmental restrictions , overuse of sources of water , the protection of threatened species or .
|
what is the average annual revenue per customer in new jersey?
|
986
|
{
"answer": "986",
"decimal": 986,
"type": "float"
}
| |
operations may be extended up to four additional years for each unit by mutual agreement of entergy and new york state based on an exigent reliability need for indian point generation .in accordance with the ferc-approved tariff of the new york independent system operator ( nyiso ) , entergy submitted to the nyiso a notice of generator deactivation based on the dates in the settlement ( no later than april 30 , 2020 for indian point unit 2 and april 30 , 2021 for indian point unit 3 ) .in december 2017 , nyiso issued a report stating there will not be a system reliability need following the deactivation of indian point .the nyiso also has advised that it will perform an analysis of the potential competitive impacts of the proposed retirement under provisions of its tariff .the deadline for the nyiso to make a withholding determination is in dispute and is pending before the ferc .in addition to contractually agreeing to cease commercial operations early , in february 2017 entergy filed with the nrc an amendment to its license renewal application changing the term of the requested licenses to coincide with the latest possible extension by mutual agreement based on exigent reliability needs : april 30 , 2024 for indian point 2 and april 30 , 2025 for indian point 3 .if entergy reasonably determines that the nrc will treat the amendment other than as a routine amendment , entergy may withdraw the amendment .other provisions of the settlement include termination of all then-existing investigations of indian point by the agencies signing the agreement , which include the new york state department of environmental conservation , the new york state department of state , the new york state department of public service , the new york state department of health , and the new york state attorney general .the settlement recognizes the right of new york state agencies to pursue new investigations and enforcement actions with respect to new circumstances or existing conditions that become materially exacerbated .another provision of the settlement obligates entergy to establish a $ 15 million fund for environmental projects and community support .apportionment and allocation of funds to beneficiaries are to be determined by mutual agreement of new york state and entergy .the settlement recognizes new york state 2019s right to perform an annual inspection of indian point , with scope and timing to be determined by mutual agreement .in may 2017 a plaintiff filed two parallel state court appeals challenging new york state 2019s actions in signing and implementing the indian point settlement with entergy on the basis that the state failed to perform sufficient environmental analysis of its actions .all signatories to the settlement agreement , including the entergy affiliates that hold nrc licenses for indian point , were named .the appeals were voluntarily dismissed in november 2017 .entergy corporation and subsidiaries management 2019s financial discussion and analysis liquidity and capital resources this section discusses entergy 2019s capital structure , capital spending plans and other uses of capital , sources of capital , and the cash flow activity presented in the cash flow statement .capital structure entergy 2019s capitalization is balanced between equity and debt , as shown in the following table .the increase in the debt to capital ratio for entergy as of december 31 , 2017 is primarily due to an increase in commercial paper outstanding in 2017 as compared to 2016. .
[['', '2017', '2016'], ['debt to capital', '67.1% ( 67.1 % )', '64.8% ( 64.8 % )'], ['effect of excluding securitization bonds', '( 0.8% ( 0.8 % ) )', '( 1.0% ( 1.0 % ) )'], ['debt to capital excluding securitization bonds ( a )', '66.3% ( 66.3 % )', '63.8% ( 63.8 % )'], ['effect of subtracting cash', '( 1.1% ( 1.1 % ) )', '( 2.0% ( 2.0 % ) )'], ['net debt to net capital excluding securitization bonds ( a )', '65.2% ( 65.2 % )', '61.8% ( 61.8 % )']]
( a ) calculation excludes the arkansas , louisiana , new orleans , and texas securitization bonds , which are non- recourse to entergy arkansas , entergy louisiana , entergy new orleans , and entergy texas , respectively. .
|
what is the percentage change in the debt-to-capital ratio from 2016 to 2017?
|
3.5%
|
{
"answer": "3.5%",
"decimal": 0.035,
"type": "percentage"
}
| |
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 contributions to our legacy qualified defined benefit pension plans during 2016 .we do not plan to make contributions to our legacy pension plans in 2017 because none are required using current assumptions including investment returns on plan assets .we made $ 23 million in contributions during 2016 to our newly established sikorsky pension plan and expect to make $ 45 million in contributions to this plan during 2017 .the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2016 ( in millions ) : .
[['', '2017', '2018', '2019', '2020', '2021', '2022 2013 2026'], ['qualified defined benefit pension plans', '$ 2260', '$ 2340', '$ 2420', '$ 2510', '$ 2590', '$ 13920'], ['retiree medical and life insurance plans', '180', '180', '190', '190', '190', '870']]
defined contribution plans we maintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees .under the provisions of our 401 ( k ) plans , we match most employees 2019 eligible contributions at rates specified in the plan documents .our contributions were $ 617 million in 2016 , $ 393 million in 2015 and $ 385 million in 2014 , the majority of which were funded in our common stock .our defined contribution plans held approximately 36.9 million and 40.0 million shares of our common stock as of december 31 , 2016 and 2015 .note 12 2013 stockholders 2019 equity at december 31 , 2016 and 2015 , our authorized capital was composed of 1.5 billion shares of common stock and 50 million shares of series preferred stock .of the 290 million shares of common stock issued and outstanding as of december 31 , 2016 , 289 million shares were considered outstanding for consolidated balance sheet presentation purposes ; the remaining shares were held in a separate trust .of the 305 million shares of common stock issued and outstanding as of december 31 , 2015 , 303 million shares were considered outstanding for consolidated balance sheet presentation purposes ; the remaining shares were held in a separate trust .no shares of preferred stock were issued and outstanding at december 31 , 2016 or 2015 .repurchases of common stock during 2016 , we repurchased 8.9 million shares of our common stock for $ 2.1 billion .during 2015 and 2014 , we paid $ 3.1 billion and $ 1.9 billion to repurchase 15.2 million and 11.5 million shares of our common stock .on september 22 , 2016 , our board of directors approved a $ 2.0 billion increase to our share repurchase program .inclusive of this increase , the total remaining authorization for future common share repurchases under our program was $ 3.5 billion as of december 31 , 2016 .as we repurchase our common shares , we reduce common stock for the $ 1 of par value of the shares repurchased , with the excess purchase price over par value recorded as a reduction of additional paid-in capital .due to the volume of repurchases made under our share repurchase program , additional paid-in capital was reduced to zero , with the remainder of the excess purchase price over par value of $ 1.7 billion and $ 2.4 billion recorded as a reduction of retained earnings in 2016 and 2015 .we paid dividends totaling $ 2.0 billion ( $ 6.77 per share ) in 2016 , $ 1.9 billion ( $ 6.15 per share ) in 2015 and $ 1.8 billion ( $ 5.49 per share ) in 2014 .we have increased our quarterly dividend rate in each of the last three years , including a 10% ( 10 % ) increase in the quarterly dividend rate in the fourth quarter of 2016 .we declared quarterly dividends of $ 1.65 per share during each of the first three quarters of 2016 and $ 1.82 per share during the fourth quarter of 2016 ; $ 1.50 per share during each of the first three quarters of 2015 and $ 1.65 per share during the fourth quarter of 2015 ; and $ 1.33 per share during each of the first three quarters of 2014 and $ 1.50 per share during the fourth quarter of 2014. .
|
what is the change in millions of qualified defined benefit pension plans from 2017 to 2018 in estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2016?
|
80
|
{
"answer": "80",
"decimal": 80,
"type": "float"
}
| |
j a c k h e n r y .c o m 1 5 market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the company 2019s common stock is quoted on the nasdaq global select market ( 201cnasdaq 201d ) under the symbol 201cjkhy 201d .the company established a practice of paying quarterly dividends at the end of fiscal 1990 and has paid dividends with respect to every quarter since that time .the declaration and payment of any future dividends will continue to be at the discretion of our board of directors and will depend upon , among other factors , our earnings , capital requirements , contractual restrictions , and operating and financial condition .the company does not currently foresee any changes in its dividend practices .on august 15 , 2019 , there were approximately 145300 holders of the company 2019s common stock , including individual participants in security position listings .on that same date the last sale price of the common shares as reported on nasdaq was $ 141.94 per share .issuer purchases of equity securities the following shares of the company were repurchased during the quarter ended june 30 , 2019 : total number of shares purchased ( 1 ) average price of total number of shares purchased as part of publicly announced plans ( 1 ) maximum number of shares that may yet be purchased under the plans ( 2 ) .
[['', 'total number of shares purchased ( 1 )', 'average price of share', 'total number of shares purchased as part of publicly announced plans ( 1 )', 'maximum number of shares that may yet be purchased under the plans ( 2 )'], ['april 1- april 30 2019', '2014', '$ 2014', '2014', '3732713'], ['may 1- may 31 2019', '250000', '$ 134.35', '250000', '3482713'], ['june 1- june 30 2019', '2014', '$ 2014', '2014', '3482713'], ['total', '250000', '$ 134.35', '250000', '3482713']]
( 1 ) 250000 shares were purchased through a publicly announced repurchase plan .there were no shares surrendered to the company to satisfy tax withholding obligations in connection with employee restricted stock awards .( 2 ) total stock repurchase authorizations approved by the company 2019s board of directors as of february 17 , 2015 were for 30.0 million shares .these authorizations have no specific dollar or share price targets and no expiration dates. .
|
what was the percentage of the shares purchase of the maximum number of shares that may yet be purchased under the plans
|
7.2%
|
{
"answer": "7.2%",
"decimal": 0.07200000000000001,
"type": "percentage"
}
| |
issuer purchases of equity securities the following table provides information about our repurchases of common stock during the three-month period ended december 31 , 2007 .period total number of shares purchased average price paid per total number of shares purchased as part of publicly announced program ( a ) maximum number of shares that may yet be purchased under the program ( b ) .
[['period', 'total number ofshares purchased', 'average pricepaid pershare', 'total number of sharespurchased as part ofpubliclyannouncedprogram ( a )', 'maximum number ofshares that may yet bepurchased under theprogram ( b )'], ['october', '127100', '$ 108.58', '127100', '35573131'], ['november', '1504300', '109.07', '1504300', '34068831'], ['december', '1325900', '108.78', '1325900', '32742931']]
( a ) we repurchased a total of 2957300 shares of our common stock during the quarter ended december 31 , 2007 under a share repurchase program that we announced in october 2002 .( b ) our board of directors has approved a share repurchase program for the repurchase of up to 128 million shares of our common stock from time-to-time , including 20 million shares approved for repurchase by our board of directors in september 2007 .under the program , management has discretion to determine the number and price of the shares to be repurchased , and the timing of any repurchases , in compliance with applicable law and regulation .as of december 31 , 2007 , we had repurchased a total of 95.3 million shares under the program .in 2007 , we did not make any unregistered sales of equity securities. .
|
as of december 2007 what was the percent of the shares outstanding of the authorized repurchase by the board of directors in september 2007
|
25.54%
|
{
"answer": "25.54%",
"decimal": 0.2554,
"type": "percentage"
}
| |
f-772016 annual report the hartford financial services group , inc .notes to consolidated financial statements ( continued ) 13 .debt ( continued ) the 7.875% ( 7.875 % ) and 8.125% ( 8.125 % ) debentures may be redeemed in whole prior to the call date upon certain tax or rating agency events , at a price equal to the greater of 100% ( 100 % ) of the principal amount being redeemed and the applicable make-whole amount plus any accrued and unpaid interest .the company may elect to redeem the 8.125% ( 8.125 % ) debentures in whole or part at its option prior to the call date at a price equal to the greater of 100% ( 100 % ) of the principal amount being redeemed and the applicable make-whole amount plus any accrued and unpaid interest .the company may elect to redeem the 7.875% ( 7.875 % ) and 8.125% ( 8.125 % ) debentures in whole or in part on or after the call date for the principal amount being redeemed plus accrued and unpaid interest to the date of redemption .in connection with the offering of the 8.125% ( 8.125 % ) debentures , the company entered into a replacement capital covenant ( 201crcc 201d ) for the benefit of holders of one or more designated series of the company 2019s indebtedness , initially the company 2019s 6.1% ( 6.1 % ) notes due 2041 .under the terms of the rcc , if the company redeems the 8.125% ( 8.125 % ) debentures at any time prior to june 15 , 2048 it can only do so with the proceeds from the sale of certain qualifying replacement securities .on february 7 , 2017 , the company executed an amendment to the rcc to lengthen the amount of time the company has to issue qualifying replacement securities prior to the redemption of the 8.125% ( 8.125 % ) debentures and to amend the definition of certain qualifying replacement securities .long-term debt long-term debt maturities ( at par value ) as of december 31 , 2016 .
[['2017 - current maturities', '$ 416'], ['2018', '$ 320'], ['2019', '$ 413'], ['2020', '$ 500'], ['2021', '$ 2014'], ['thereafter', '$ 3525']]
shelf registrations on july 29 , 2016 , the company filed with the securities and exchange commission ( the 201csec 201d ) an automatic shelf registration statement ( registration no .333-212778 ) for the potential offering and sale of debt and equity securities .the registration statement allows for the following types of securities to be offered : debt securities , junior subordinated debt securities , preferred stock , common stock , depositary shares , warrants , stock purchase contracts , and stock purchase units .in that the hartford is a well- known seasoned issuer , as defined in rule 405 under the securities act of 1933 , the registration statement went effective immediately upon filing and the hartford may offer and sell an unlimited amount of securities under the registration statement during the three-year life of the registration statement .contingent capital facility the hartford is party to a put option agreement that provides the hartford with the right to require the glen meadow abc trust , a delaware statutory trust , at any time and from time to time , to purchase the hartford 2019s junior subordinated notes in a maximum aggregate principal amount not to exceed $ 500 .on february 8 , 2017 , the hartford exercised the put option resulting in the issuance of $ 500 in junior subordinated notes with proceeds received on february 15 , 2017 .under the put option agreement , the hartford had been paying the glen meadow abc trust premiums on a periodic basis , calculated with respect to the aggregate principal amount of notes that the hartford had the right to put to the glen meadow abc trust for such period .the hartford has agreed to reimburse the glen meadow abc trust for certain fees and ordinary expenses .the company holds a variable interest in the glen meadow abc trust where the company is not the primary beneficiary .as a result , the company does not consolidate the glen meadow abc trust .the junior subordinated notes have a scheduled maturity of february 12 , 2047 , and a final maturity of february 12 , 2067 .the company is required to use reasonable efforts to sell certain qualifying replacement securities in order to repay the debentures at the scheduled maturity date .the junior subordinated notes bear interest at an annual rate of three-month libor plus 2.125% ( 2.125 % ) , payable quarterly , and are unsecured , subordinated indebtedness of the hartford .the hartford will have the right , on one or more occasions , to defer interest payments due on the junior subordinated notes under specified circumstances .upon receipt of the proceeds , the company entered into a replacement capital covenant ( the 201crcc 201d ) for the benefit of holders of one or more designated series of the company 2019s indebtedness , initially the company 2019s 4.3% ( 4.3 % ) notes due 2043 .under the terms of the rcc , if the company redeems the debentures at any time prior to february 12 , 2047 ( or such earlier date on which the rcc terminates by its terms ) it can only do so with the proceeds from the sale of certain qualifying replacement securities .the rcc also prohibits the company from redeeming all or any portion of the notes on or prior to february 15 , 2022 .revolving credit facilities the company has a senior unsecured five-year revolving credit facility ( the 201ccredit facility 201d ) that provides for borrowing capacity up to $ 1 billion of unsecured credit through october 31 , 2019 available in u.s .dollars , euro , sterling , canadian dollars and japanese yen .as of december 31 , 2016 , no borrowings were outstanding under the credit facility .as of december 31 , 2016 , the company was in compliance with all financial covenants within the credit facility .commercial paper the hartford 2019s maximum borrowings available under its commercial paper program are $ 1 billion .the company is dependent upon market conditions to access short-term financing through the issuance of commercial paper to investors .as of december 31 , 2016 , there was no commercial paper outstanding. .
|
what is the total long-term debt reported in the balance sheet as of december 31 , 2016?
|
5174
|
{
"answer": "5174",
"decimal": 5174,
"type": "float"
}
| |
mfc 2019s operating profit for 2013 increased $ 175 million , or 14% ( 14 % ) , compared to 2012 .the increase was primarily attributable to higher operating profit of approximately $ 85 million for air and missile defense programs ( thaad and pac-3 ) due to increased risk retirements and volume ; about $ 85 million for fire control programs ( sniper ae , lantirn ae and apache ) due to increased risk retirements and higher volume ; and approximately $ 75 million for tactical missile programs ( hellfire and various programs ) due to increased risk retirements .the increases were partially offset by lower operating profit of about $ 45 million for the resolution of contractual matters in the second quarter of 2012 ; and approximately $ 15 million for various technical services programs due to lower volume partially offset by increased risk retirements .adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 100 million higher for 2013 compared to 2012 .2012 compared to 2011 mfc 2019s net sales for 2012 were comparable to 2011 .net sales decreased approximately $ 130 million due to lower volume and risk retirements on various services programs , and about $ 60 million due to lower volume from fire control systems programs ( primarily sniper ae ; lantirn ae ; and apache ) .the decreases largely were offset by higher net sales of approximately $ 95 million due to higher volume from tactical missile programs ( primarily javelin and hellfire ) and approximately $ 80 million for air and missile defense programs ( primarily pac-3 and thaad ) .mfc 2019s operating profit for 2012 increased $ 187 million , or 17% ( 17 % ) , compared to 2011 .the increase was attributable to higher risk retirements and volume of about $ 95 million from tactical missile programs ( primarily javelin and hellfire ) ; increased risk retirements and volume of approximately $ 60 million for air and missile defense programs ( primarily thaad and pac-3 ) ; and about $ 45 million from a resolution of contractual matters .partially offsetting these increases was lower risk retirements and volume on various programs , including $ 25 million for services programs .adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 145 million higher for 2012 compared to 2011 .backlog backlog increased in 2013 compared to 2012 mainly due to higher orders on the thaad program and lower sales volume compared to new orders on certain fire control systems programs in 2013 , partially offset by lower orders on technical services programs and certain tactical missile programs .backlog increased in 2012 compared to 2011 mainly due to increased orders and lower sales on fire control systems programs ( primarily lantirn ae and sniper ae ) and on various services programs , partially offset by lower orders and higher sales volume on tactical missiles programs .trends we expect mfc 2019s net sales to be flat to slightly down in 2014 compared to 2013 , primarily due to a decrease in net sales on technical services programs partially offset by an increase in net sales from missiles and fire control programs .operating profit is expected to decrease in the high single digit percentage range , driven by a reduction in expected risk retirements in 2014 .accordingly , operating profit margin is expected to slightly decline from 2013 .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 ) , lcs , mh-60 , tpq-53 radar system , and mk-41 vertical launching system ( vls ) .mst 2019s operating results included the following ( in millions ) : .
[['', '2013', '2012', '2011'], ['net sales', '$ 7153', '$ 7579', '$ 7132'], ['operating profit', '905', '737', '645'], ['operating margins', '12.7% ( 12.7 % )', '9.7% ( 9.7 % )', '9.0% ( 9.0 % )'], ['backlog at year-end', '10800', '10700', '10500']]
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 .
|
what was the average operating profit from 2011 to 2013 in millions
|
762.3
|
{
"answer": "762.3",
"decimal": 762.3,
"type": "float"
}
| |
stock performance graph the following graph provides a comparison of five year cumulative total stockholder returns of teleflex common stock , the standard a0& poor 2019s ( s&p ) 500 stock index and the s&p 500 healthcare equipment & supply index .the annual changes for the five-year period shown on the graph are based on the assumption that $ 100 had been invested in teleflex common stock and each index on december a031 , 2012 and that all dividends were reinvested .market performance .
[['company / index', '2012', '2013', '2014', '2015', '2016', '2017'], ['teleflex incorporated', '100', '134', '166', '192', '237', '368'], ['s&p 500 index', '100', '132', '151', '153', '171', '208'], ['s&p 500 healthcare equipment & supply index', '100', '128', '161', '171', '181', '238']]
s&p 500 healthcare equipment & supply index 100 128 161 171 181 238 .
|
what is roi of an investment in s&p 500 index in 2012 and sold in 2017?
|
108%
|
{
"answer": "108%",
"decimal": 1.08,
"type": "percentage"
}
| |
management 2019s discussion and analysis supplemental financial information and disclosures income tax matters effective tax rate from continuing operations .
[['', '2017', '2016', '2015'], ['u.s . gaap', '40.1% ( 40.1 % )', '30.8% ( 30.8 % )', '25.9% ( 25.9 % )'], ['adjusted effective income taxrate 2014non-gaap1', '30.8% ( 30.8 % )', '31.6% ( 31.6 % )', '32.3% ( 32.3 % )']]
adjusted effective income tax rate 2014 non-gaap1 30.8% ( 30.8 % ) 31.6% ( 31.6 % ) 32.3% ( 32.3 % ) 1 .beginning in 2017 , income tax consequences associated with employee share-based awards are recognized in provision for income taxes in the income statements but are excluded from the intermittent net discrete tax provisions ( benefits ) adjustment as we anticipate conversion activity each year .see note 2 to the financial statements on the adoption of the accounting update improvements to employee share-based payment accounting .for 2015 , adjusted effective income tax rate also excludes dva .for further information on non-gaap measures , see 201cselected non-gaap financial information 201d herein .the effective tax rate from continuing operations for 2017 included an intermittent net discrete tax provision of $ 968 million , primarily related to the impact of the tax act , partially offset by net discrete tax benefits primarily associ- ated with the remeasurement of reserves and related interest due to new information regarding the status of multi-year irs tax examinations .the tax act , enacted on december 22 , 2017 , significantly revised u.s .corporate income tax law by , among other things , reducing the corporate income tax rate to 21% ( 21 % ) , and implementing a modified territorial tax system that includes a one-time transition tax on deemed repatriated earnings of non-u.s .subsidiaries ; imposes a minimum tax on global intangible low-taxed income ( 201cgilti 201d ) and an alternative base erosion and anti-abuse tax ( 201cbeat 201d ) on u.s .corpora- tions that make deductible payments to non-u.s .related persons in excess of specified amounts ; and broadens the tax base by partially or wholly eliminating tax deductions for certain historically deductible expenses ( e.g. , fdic premiums and executive compensation ) .we recorded an approximate $ 1.2 billion net discrete tax provision as a result of the enactment of the tax act , primarily from the remeasurement of certain deferred tax assets using the lower enacted corporate tax rate .this provi- sion incorporates the best available information as of the enactment date as well as assumptions made based upon our current interpretation of the tax act .our estimates may change as we receive additional clarification and implementa- tion guidance from the u.s .treasury department and as the interpretation of the tax act evolves over time .the ultimate impact of the income tax effects of the tax act will be deter- mined in connection with the preparation of our u.s .consoli- dated federal income tax return .taking into account our current assumptions , estimates and interpretations related to the tax act and other factors , we expect our effective tax rate from continuing operations for 2018 to be approximately 22% ( 22 % ) to 25% ( 25 % ) , depending on factors such as the geographic mix of earnings and employee share- based awards ( see 201cforward-looking statements 201d ) .subsequent to the release of the firm 2019s 2017 earnings on january 18 , 2018 , certain estimates related to the net discrete tax provision associated with the enactment of the tax act were revised , resulting in a $ 43 million increase in the provi- sion for income taxes and a reallocation of impacts among segments .this decreased diluted eps and diluted eps from continuing operations by $ 0.03 and $ 0.02 in the fourth quarter and year ended december 31 , 2017 , respectively .on a business segment basis , the change resulted in an $ 89 million increase in provision for income taxes for wealth management , a $ 45 million decrease for institutional securi- ties , and a $ 1 million decrease for investment management .the effective tax rate from continuing operations for 2016 included intermittent net discrete tax benefits of $ 68 million , primarily related to the remeasurement of reserves and related interest due to new information regarding the status of multi- year irs tax examinations , partially offset by adjustments for other tax matters .the effective tax rate from continuing operations for 2015 included intermittent net discrete tax benefits of $ 564 million , primarily associated with the repatriation of non-u.s .earn- ings at a cost lower than originally estimated due to an internal restructuring to simplify the legal entity organization in the u.k .u.s .bank subsidiaries we provide loans to a variety of customers , from large corpo- rate and institutional clients to high net worth individuals , primarily through our u.s .bank subsidiaries , morgan stanley bank n.a .( 201cmsbna 201d ) and morgan stanley private bank , national association ( 201cmspbna 201d ) ( collectively , 201cu.s .bank subsidiaries 201d ) .the lending activities in the institutional securities business segment primarily include loans and lending commitments to corporate clients .the lending activ- ities in the wealth management business segment primarily include securities-based lending that allows clients to borrow december 2017 form 10-k 52 .
|
what is the difference between u.s . gaap and adjusted effective income tax rate 2014non-gaap in 2015?
|
-6.4%
|
{
"answer": "-6.4%",
"decimal": -0.064,
"type": "percentage"
}
| |
our consolidated net cash flows used for investing activities were $ 4.2 billion in 2010 , compared with $ 3.2 billion in 2009 .net investing activities for the indicated periods were related primarily to net purchases of fixed maturities and for 2010 included the acquisitions of rain and hail and jerneh insurance berhad .our consolidated net cash flows from financing activities were $ 732 million in 2010 , compared with net cash flows used for financing activities of $ 321 million in 2009 .net cash flows from/used for financing activities in 2010 and 2009 , included dividends paid on our common shares of $ 435 million and $ 388 million , respectively .net cash flows from financing activ- ities in 2010 , included net proceeds of $ 699 million from the issuance of long-term debt , $ 1 billion in reverse repurchase agreements , and $ 300 million in credit facility borrowings .this was partially offset by repayment of $ 659 million in debt and share repurchases settled in 2010 of $ 235 million .for 2009 , net cash flows used for financing activities included net pro- ceeds from the issuance of $ 500 million in long-term debt and the net repayment of debt and reverse repurchase agreements of $ 466 million .both internal and external forces influence our financial condition , results of operations , and cash flows .claim settle- ments , premium levels , and investment returns may be impacted by changing rates of inflation and other economic conditions .in many cases , significant periods of time , ranging up to several years or more , may lapse between the occurrence of an insured loss , the reporting of the loss to us , and the settlement of the liability for that loss .from time to time , we utilize reverse repurchase agreements as a low-cost alternative for short-term funding needs .we use these instruments on a limited basis to address short-term cash timing differences without disrupting our investment portfolio holdings and settle the transactions with future operating cash flows .at december 31 , 2010 , there were $ 1 billion in reverse repurchase agreements outstanding ( refer to short-term debt ) .in addition to cash from operations , routine sales of investments , and financing arrangements , we have agreements with a bank provider which implemented two international multi-currency notional cash pooling programs to enhance cash management efficiency during periods of short-term timing mismatches between expected inflows and outflows of cash by currency .in each program , participating ace entities establish deposit accounts in different currencies with the bank provider and each day the credit or debit balances in every account are notionally translated into a single currency ( u.s .dollars ) and then notionally pooled .the bank extends overdraft credit to any participating ace entity as needed , provided that the overall notionally-pooled balance of all accounts in each pool at the end of each day is at least zero .actual cash balances are not physically converted and are not co-mingled between legal entities .ace entities may incur overdraft balances as a means to address short-term timing mismatches , and any overdraft balances incurred under this program by an ace entity would be guaranteed by ace limited ( up to $ 150 million in the aggregate ) .our revolving credit facility allows for same day drawings to fund a net pool overdraft should participating ace entities withdraw contributed funds from the pool .capital resources capital resources consist of funds deployed or available to be deployed to support our business operations .the following table summarizes the components of our capital resources at december 31 , 2010 , and 2009. .
[['( in millions of u.s . dollars except for percentages )', '2010', '2009'], ['short-term debt', '$ 1300', '$ 161'], ['long-term debt', '3358', '3158'], ['total debt', '4658', '3319'], ['trust preferred securities', '309', '309'], ['total shareholders 2019 equity', '22974', '19667'], ['total capitalization', '$ 27941', '$ 23295'], ['ratio of debt to total capitalization', '16.7% ( 16.7 % )', '14.2% ( 14.2 % )'], ['ratio of debt plus trust preferred securities to total capitalization', '17.8% ( 17.8 % )', '15.6% ( 15.6 % )']]
our ratios of debt to total capitalization and debt plus trust preferred securities to total capitalization have increased temporarily due to the increase in short-term debt , as discussed below .we expect that these ratios will decline over the next six to nine months as we repay the short-term debt .we believe our financial strength provides us with the flexibility and capacity to obtain available funds externally through debt or equity financing on both a short-term and long-term basis .our ability to access the capital markets is dependent on , among other things , market conditions and our perceived financial strength .we have accessed both the debt and equity markets from time to time. .
|
what are the total assets reported in 2010?
|
27632
|
{
"answer": "27632",
"decimal": 27632,
"type": "float"
}
| |
notes to consolidated financial statements ( continued ) management performs detailed reviews of its receivables on a monthly and/or quarterly basis to assess the adequacy of the allowances based on historical and current trends and other factors affecting credit losses and to determine if any impairment has occurred .a receivable is impaired when it is probable that all amounts related to the receivable will not be collected according to the contractual terms of the agreement .in circumstances where the company is aware of a specific customer 2019s inability to meet its financial obligations , a specific reserve is recorded against amounts due to reduce the net recognized receivable to the amount reasonably expected to be collected .additions to the allowances for doubtful accounts are maintained through adjustments to the provision for credit losses , which are charged to current period earnings ; amounts determined to be uncollectable are charged directly against the allowances , while amounts recovered on previously charged-off accounts increase the allowances .net charge-offs include the principal amount of losses charged off as well as charged-off interest and fees .recovered interest and fees previously charged-off are recorded through the allowances for doubtful accounts and increase the allowances .finance receivables are assessed for charge- off when an account becomes 120 days past due and are charged-off typically within 60 days of asset repossession .contract receivables related to equipment leases are generally charged-off when an account becomes 150 days past due , while contract receivables related to franchise finance and van leases are generally charged off up to 180 days past the asset return .for finance and contract receivables , customer bankruptcies are generally charged-off upon notification that the associated debt is not being reaffirmed or , in any event , no later than 180 days past due .snap-on does not believe that its trade accounts , finance or contract receivables represent significant concentrations of credit risk because of the diversified portfolio of individual customers and geographical areas .see note 3 for further information on receivables and allowances for doubtful accounts .other accrued liabilities : supplemental balance sheet information for 201cother accrued liabilities 201d as of 2012 and 2011 year end is as follows : ( amounts in millions ) 2012 2011 .
[['( amounts in millions )', '2012', '2011'], ['income taxes', '$ 19.6', '$ 11.7'], ['accrued restructuring', '7.2', '8.4'], ['accrued warranty', '18.9', '18.6'], ['deferred subscription revenue', '24.8', '24.9'], ['accrued property payroll and other tax', '32.9', '30.4'], ['accrued selling and promotion expense', '26.6', '29.1'], ['other', '117.9', '132.8'], ['total other accrued liabilities', '$ 247.9', '$ 255.9']]
inventories : snap-on values its inventory at the lower of cost or market and adjusts for the value of inventory that is estimated to be excess , obsolete or otherwise unmarketable .snap-on records allowances for excess and obsolete inventory based on historical and estimated future demand and market conditions .allowances for raw materials are largely based on an analysis of raw material age and actual physical inspection of raw material for fitness for use .as part of evaluating the adequacy of allowances for work-in-progress and finished goods , management reviews individual product stock-keeping units ( skus ) by product category and product life cycle .cost adjustments for each product category/product life-cycle state are generally established and maintained based on a combination of historical experience , forecasted sales and promotions , technological obsolescence , inventory age and other actual known conditions and circumstances .should actual product marketability and raw material fitness for use be affected by conditions that are different from management estimates , further adjustments to inventory allowances may be required .snap-on adopted the 201clast-in , first-out 201d ( 201clifo 201d ) inventory valuation method in 1973 for its u.s .locations .snap-on 2019s u.s .inventories accounted for on a lifo basis consist of purchased product and inventory manufactured at the company 2019s heritage u.s .manufacturing facilities ( primarily hand tools and tool storage ) .as snap-on began acquiring businesses in the 1990 2019s , the company retained the 201cfirst-in , first-out 201d ( 201cfifo 201d ) inventory valuation methodology used by the predecessor businesses prior to their acquisition by snap-on ; the company does not adopt the lifo inventory valuation methodology for new acquisitions .see note 4 for further information on inventories .72 snap-on incorporated .
|
what is the percentage change in the total other accrued liabilities from 2011 to 2012?
|
-3.1%
|
{
"answer": "-3.1%",
"decimal": -0.031,
"type": "percentage"
}
| |
in june 2011 , the fasb issued asu no .2011-05 201ccomprehensive income 2013 presentation of comprehensive income . 201d asu 2011-05 requires comprehensive income , the components of net income , and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements .in both choices , an entity is required to present each component of net income along with total net income , each component of other comprehensive income along with a total for other comprehensive income , and a total amount for comprehensive income .this update eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders' equity .the amendments in this update do not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income .the amendments in this update should be applied retrospectively and is effective for interim and annual reporting periods beginning after december 15 , 2011 .the company adopted this guidance in the first quarter of 2012 .the adoption of asu 2011-05 is for presentation purposes only and had no material impact on the company 2019s consolidated financial statements .3 .inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at both december 29 , 2012 and december 31 , 2011 .under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2012 and prior years .the company recorded a reduction to cost of sales of $ 24087 and $ 29554 in fiscal 2012 and fiscal 2010 , respectively .as a result of utilizing lifo , the company recorded an increase to cost of sales of $ 24708 for fiscal 2011 , due to an increase in supply chain costs and inflationary pressures affecting certain product categories .the company 2019s overall costs to acquire inventory for the same or similar products have generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies .product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( "fifo" ) method .product cores are included as part of the company's merchandise costs and are either passed on to the customer or returned to the vendor .because product cores are not subject to frequent cost changes like the company's other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method .inventory overhead costs purchasing and warehousing costs included in inventory at december 29 , 2012 and december 31 , 2011 , were $ 134258 and $ 126840 , respectively .inventory balance and inventory reserves inventory balances at the end of fiscal 2012 and 2011 were as follows : december 29 , december 31 .
[['', 'december 292012', 'december 312011'], ['inventories at fifo net', '$ 2182419', '$ 1941055'], ['adjustments to state inventories at lifo', '126190', '102103'], ['inventories at lifo net', '$ 2308609', '$ 2043158']]
inventory quantities are tracked through a perpetual inventory system .the company completes physical inventories and other targeted inventory counts in its store locations to ensure the accuracy of the perpetual inventory quantities of both merchandise and core inventory in these locations .in its distribution centers and pdq aes , the company uses a cycle counting program to ensure the accuracy of the perpetual inventory quantities of both merchandise and product core inventory .reserves advance auto parts , inc .and subsidiaries notes to the consolidated financial statements december 29 , 2012 , december 31 , 2011 and january 1 , 2011 ( in thousands , except per share data ) .
|
what is the percentage change in inventories at lifo net during 2012?
|
13.0%
|
{
"answer": "13.0%",
"decimal": 0.13,
"type": "percentage"
}
| |
management 2019s discussion and analysis 138 jpmorgan chase & co./2013 annual report the credit derivatives used in credit portfolio management activities do not qualify for hedge accounting under u.s .gaap ; these derivatives are reported at fair value , with gains and losses recognized in principal transactions revenue .in contrast , the loans and lending-related commitments being risk-managed are accounted for on an accrual basis .this asymmetry in accounting treatment , between loans and lending-related commitments and the credit derivatives used in credit portfolio management activities , causes earnings volatility that is not representative , in the firm 2019s view , of the true changes in value of the firm 2019s overall credit exposure .the effectiveness of the firm 2019s credit default swap ( 201ccds 201d ) protection as a hedge of the firm 2019s exposures may vary depending on a number of factors , including the named reference entity ( i.e. , the firm may experience losses on specific exposures that are different than the named reference entities in the purchased cds ) , and the contractual terms of the cds ( which may have a defined credit event that does not align with an actual loss realized by the firm ) and the maturity of the firm 2019s cds protection ( which in some cases may be shorter than the firm 2019s exposures ) .however , the firm generally seeks to purchase credit protection with a maturity date that is the same or similar to the maturity date of the exposure for which the protection was purchased , and remaining differences in maturity are actively monitored and managed by the firm .credit portfolio hedges the following table sets out the fair value related to the firm 2019s credit derivatives used in credit portfolio management activities , the fair value related to the cva ( which reflects the credit quality of derivatives counterparty exposure ) , as well as certain other hedges used in the risk management of cva .these results can vary from period-to- period due to market conditions that affect specific positions in the portfolio .net gains and losses on credit portfolio hedges year ended december 31 , ( in millions ) 2013 2012 2011 hedges of loans and lending- related commitments $ ( 142 ) $ ( 163 ) $ ( 32 ) .
[['year ended december 31 ( in millions )', '2013', '2012', '2011'], ['hedges of loans and lending-related commitments', '$ -142 ( 142 )', '$ -163 ( 163 )', '$ -32 ( 32 )'], ['cva and hedges of cva', '-130 ( 130 )', '127', '-769 ( 769 )'], ['net gains/ ( losses )', '$ -272 ( 272 )', '$ -36 ( 36 )', '$ -801 ( 801 )']]
community reinvestment act exposure the community reinvestment act ( 201ccra 201d ) encourages banks to meet the credit needs of borrowers in all segments of their communities , including neighborhoods with low or moderate incomes .the firm is a national leader in community development by providing loans , investments and community development services in communities across the united states .at december 31 , 2013 and 2012 , the firm 2019s cra loan portfolio was approximately $ 18 billion and $ 16 billion , respectively .at december 31 , 2013 and 2012 , 50% ( 50 % ) and 62% ( 62 % ) , respectively , of the cra portfolio were residential mortgage loans ; 26% ( 26 % ) and 13% ( 13 % ) , respectively , were commercial real estate loans ; 16% ( 16 % ) and 18% ( 18 % ) , respectively , were business banking loans ; and 8% ( 8 % ) and 7% ( 7 % ) , respectively , were other loans .cra nonaccrual loans were 3% ( 3 % ) and 4% ( 4 % ) , respectively , of the firm 2019s total nonaccrual loans .for the years ended december 31 , 2013 and 2012 , net charge-offs in the cra portfolio were 1% ( 1 % ) and 3% ( 3 % ) , respectively , of the firm 2019s net charge-offs in both years. .
|
at december 31 , 2013 what is the dollar amount of the cra loan portfolio that was not performing and charged off , in billions?
|
540000000
|
{
"answer": "540000000",
"decimal": 540000000,
"type": "float"
}
|
nonaccrual is assumed to be charged off
|
management 2019s discussion and analysis sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure .other sensitivity measures we use to analyze market risk are described below .10% ( 10 % ) sensitivity measures .the table below presents market risk for inventory positions that are not included in var .the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% ( 10 % ) decline in the underlying asset value .equity positions below relate to private and restricted public equity securities , including interests in funds that invest in corporate equities and real estate and interests in hedge funds , which are included in 201cfinancial instruments owned , at fair value . 201d debt positions include interests in funds that invest in corporate mezzanine and senior debt instruments , loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans .these debt positions are included in 201cfinancial instruments owned , at fair value . 201d see note 6 to the consolidated financial statements for further information about cash instruments .these measures do not reflect diversification benefits across asset categories or across other market risk measures .asset categories 10% ( 10 % ) sensitivity amount as of december in millions 2013 2012 equity 1 $ 2256 $ 2471 .
[['asset categories', 'asset categories', ''], ['in millions', '2013', '2012'], ['equity1', '$ 2256', '$ 2471'], ['debt', '1522', '1676'], ['total', '$ 3778', '$ 4147']]
1 .december 2012 includes $ 208 million related to our investment in the ordinary shares of icbc , which was sold in the first half of 2013 .credit spread sensitivity on derivatives and borrowings .var excludes the impact of changes in counterparty and our own credit spreads on derivatives as well as changes in our own credit spreads on unsecured borrowings for which the fair value option was elected .the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives was a gain of $ 4 million and $ 3 million ( including hedges ) as of december 2013 and december 2012 , respectively .in addition , the estimated sensitivity to a one basis point increase in our own credit spreads on unsecured borrowings for which the fair value option was elected was a gain of $ 8 million and $ 7 million ( including hedges ) as of december 2013 and december 2012 , respectively .however , the actual net impact of a change in our own credit spreads is also affected by the liquidity , duration and convexity ( as the sensitivity is not linear to changes in yields ) of those unsecured borrowings for which the fair value option was elected , as well as the relative performance of any hedges undertaken .interest rate sensitivity .as of december 2013 and december 2012 , the firm had $ 14.90 billion and $ 6.50 billion , respectively , of loans held for investment which were accounted for at amortized cost and included in 201creceivables from customers and counterparties , 201d substantially all of which had floating interest rates .as of december 2013 and december 2012 , the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 136 million and $ 62 million , respectively , of additional interest income over a 12-month period , which does not take into account the potential impact of an increase in costs to fund such loans .see note 8 to the consolidated financial statements for further information about loans held for investment .goldman sachs 2013 annual report 95 .
|
what was the average estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives in millions for the years of december 2013 and december 2012?
|
3.5
|
{
"answer": "3.5",
"decimal": 3.5,
"type": "float"
}
| |
management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) corporate and other expenses decreased slightly during 2012 by $ 4.7 to $ 137.3 compared to 2011 , primarily due to lower office and general expenses , partially offset by an increase in temporary help to support our information-technology system-upgrade initiatives .liquidity and capital resources cash flow overview the following tables summarize key financial data relating to our liquidity , capital resources and uses of capital. .
[['cash flow data', 'years ended december 31 , 2013', 'years ended december 31 , 2012', 'years ended december 31 , 2011'], ['net income adjusted to reconcile net income to net cashprovided by operating activities1', '$ 598.4', '$ 697.2', '$ 735.7'], ['net cash used in working capital b2', '-9.6 ( 9.6 )', '-293.2 ( 293.2 )', '-359.4 ( 359.4 )'], ['changes in other non-current assets and liabilities using cash', '4.1', '-46.8 ( 46.8 )', '-102.8 ( 102.8 )'], ['net cash provided by operating activities', '$ 592.9', '$ 357.2', '$ 273.5'], ['net cash used in investing activities', '-224.5 ( 224.5 )', '-210.2 ( 210.2 )', '-58.8 ( 58.8 )'], ['net cash ( used in ) provided by financing activities', '-1212.3 ( 1212.3 )', '131.3', '-541.0 ( 541.0 )']]
1 reflects net income adjusted primarily for depreciation and amortization of fixed assets and intangible assets , amortization of restricted stock and other non-cash compensation , non-cash loss related to early extinguishment of debt , and deferred income taxes .2 reflects changes in accounts receivable , expenditures billable to clients , other current assets , accounts payable and accrued liabilities .operating activities net cash provided by operating activities during 2013 was $ 592.9 , which was an increase of $ 235.7 as compared to 2012 , primarily as a result of an improvement in working capital usage of $ 283.6 , offset by a decrease in net income .due to the seasonality of our business , we typically generate cash from working capital in the second half of a year and use cash from working capital in the first half of a year , with the largest impacts in the first and fourth quarters .the improvement in working capital in 2013 was impacted by our media businesses and an ongoing focus on working capital management at our agencies .net cash provided by operating activities during 2012 was $ 357.2 , which was an increase of $ 83.7 as compared to 2011 , primarily as a result of a decrease in working capital usage of $ 66.2 .the net working capital usage in 2012 was primarily impacted by our media businesses .the timing of media buying on behalf of our clients affects our working capital and operating cash flow .in most of our businesses , our agencies enter into commitments to pay production and media costs on behalf of clients .to the extent possible we pay production and media charges after we have received funds from our clients .the amounts involved substantially exceed our revenues , and primarily affect the level of accounts receivable , expenditures billable to clients , accounts payable and accrued liabilities .our assets include both cash received and accounts receivable from clients for these pass-through arrangements , while our liabilities include amounts owed on behalf of clients to media and production suppliers .our accrued liabilities are also affected by the timing of certain other payments .for example , while annual cash incentive awards are accrued throughout the year , they are generally paid during the first quarter of the subsequent year .investing activities net cash used in investing activities during 2013 primarily relates to payments for capital expenditures and acquisitions .capital expenditures of $ 173.0 relate primarily to computer hardware and software and leasehold improvements .we made payments of $ 61.5 related to acquisitions completed during 2013. .
|
for net cash provided by operating activities in 2013 , how much was lost due to the decrease in net income?
|
$ 47.9 million
|
{
"answer": "$ 47.9 million",
"decimal": 47900000,
"type": "money"
}
|
to figure out the decrease in net income , one must take total change without net income and subtract it by the change between the years . this should give you $ 47.9 million .
|
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