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recourse and repurchase obligations as discussed in note 3 loan sale and servicing activities and variable interest entities , pnc has sold commercial mortgage , residential mortgage and home equity loans directly or indirectly through securitization and loan sale transactions in which we have continuing involvement .one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets .commercial mortgage loan recourse obligations we originate , close and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s delegated underwriting and servicing ( dus ) program .we participated in a similar program with the fhlmc .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 , 2013 and december 31 , 2012 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 11.7 billion and $ 12.8 billion , respectively .the potential maximum exposure under the loss share arrangements was $ 3.6 billion at december 31 , 2013 and $ 3.9 billion at december 31 , 2012 .we maintain a reserve for estimated losses based upon our exposure .the reserve for losses under these programs totaled $ 33 million and $ 43 million as of december 31 , 2013 and december 31 , 2012 , 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 .table 152 : analysis of commercial mortgage recourse obligations .
[['in millions', '2013', '2012'], ['january 1', '$ 43', '$ 47'], ['reserve adjustments net', '-9 ( 9 )', '4'], ['losses 2013 loan repurchases and settlements', '-1 ( 1 )', '-8 ( 8 )'], ['december 31', '$ 33', '$ 43']]
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 .for additional information on loan sales see note 3 loan sale and servicing activities and variable interest entities .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 .in the fourth quarter of 2013 , pnc reached agreements with both fnma and fhlmc to resolve their repurchase claims with respect to loans sold between 2000 and 2008 .pnc paid a total of $ 191 million related to these settlements .pnc 2019s repurchase obligations also include certain brokered home equity loans/lines of credit that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition of national city .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 loans sold in these transactions .repurchase activity associated with brokered home equity loans/lines of credit is reported in the non-strategic assets portfolio segment .indemnification and repurchase liabilities are initially recognized when loans are sold to investors and are subsequently evaluated by management .initial recognition and subsequent adjustments to the indemnification and repurchase liability for the sold residential mortgage portfolio are recognized in residential mortgage revenue on the consolidated income statement .since pnc is no longer engaged in the brokered home equity lending business , only subsequent adjustments are recognized to the home equity loans/lines indemnification and repurchase liability .these adjustments are recognized in other noninterest income on the consolidated income statement .214 the pnc financial services group , inc .2013 form 10-k .
|
what was the average potential maximum exposure under the loss share arrangements in december 31 , 2013 and december 31 , 2012 in billions?
|
3.8
|
{
"answer": "3.8",
"decimal": 3.8,
"type": "float"
}
| |
able to reasonably estimate the timing of future cash flows beyond 12 months due to uncertainties in the timing of tax audit outcomes .the remaining amount of our unrecognized tax liability was classified in other liabilities .we report accrued interest and penalties related to unrecognized tax benefit liabilities in income tax expense .for fiscal 2017 , we recognized a net benefit of $ 5.6 million of tax-related net interest and penalties , and had $ 23.1 million of accrued interest and penalties as of may 28 , 2017 .for fiscal 2016 , we recognized a net benefit of $ 2.7 million of tax-related net interest and penalties , and had $ 32.1 million of accrued interest and penalties as of may 29 , 2016 .note 15 .leases , other commitments , and contingencies the company 2019s leases are generally for warehouse space and equipment .rent expense under all operating leases from continuing operations was $ 188.1 million in fiscal 2017 , $ 189.1 million in fiscal 2016 , and $ 193.5 million in fiscal 2015 .some operating leases require payment of property taxes , insurance , and maintenance costs in addition to the rent payments .contingent and escalation rent in excess of minimum rent payments and sublease income netted in rent expense were insignificant .noncancelable future lease commitments are : operating capital in millions leases leases .
[['in millions', 'operating leases', 'capital leases'], ['fiscal 2018', '$ 118.8', '$ 0.4'], ['fiscal 2019', '101.7', '0.4'], ['fiscal 2020', '80.7', '0.2'], ['fiscal 2021', '60.7', '0.1'], ['fiscal 2022', '49.7', '2014'], ['after fiscal 2022', '89.1', '0.1'], ['total noncancelable future lease commitments', '$ 500.7', '$ 1.2'], ['less : interest', '', '-0.1 ( 0.1 )'], ['present value of obligations under capital leases', '', '$ 1.1']]
depreciation on capital leases is recorded as deprecia- tion expense in our results of operations .as of may 28 , 2017 , we have issued guarantees and comfort letters of $ 504.7 million for the debt and other obligations of consolidated subsidiaries , and guarantees and comfort letters of $ 165.3 million for the debt and other obligations of non-consolidated affiliates , mainly cpw .in addition , off-balance sheet arrangements are generally limited to the future payments under non-cancelable operating leases , which totaled $ 500.7 million as of may 28 , 2017 .note 16 .business segment and geographic information we operate in the consumer foods industry .in the third quarter of fiscal 2017 , we announced a new global orga- nization structure to streamline our leadership , enhance global scale , and drive improved operational agility to maximize our growth capabilities .as a result of this global reorganization , beginning in the third quarter of fiscal 2017 , we reported results for our four operating segments as follows : north america retail , 65.3 percent of our fiscal 2017 consolidated net sales ; convenience stores & foodservice , 12.0 percent of our fiscal 2017 consolidated net sales ; europe & australia , 11.7 percent of our fiscal 2017 consolidated net sales ; and asia & latin america , 11.0 percent of our fiscal 2017 consoli- dated net sales .we have restated our net sales by seg- ment and segment operating profit amounts to reflect our new operating segments .these segment changes had no effect on previously reported consolidated net sales , operating profit , net earnings attributable to general mills , or earnings per share .our north america retail operating segment consists of our former u.s .retail operating units and our canada region .within our north america retail operating seg- ment , our former u.s .meals operating unit and u.s .baking operating unit have been combined into one operating unit : u.s .meals & baking .our convenience stores & foodservice operating segment is unchanged .our europe & australia operating segment consists of our former europe region .our asia & latin america operating segment consists of our former asia/pacific and latin america regions .under our new organization structure , our chief operating decision maker assesses performance and makes decisions about resources to be allocated to our segments at the north america retail , convenience stores & foodservice , europe & australia , and asia & latin america operating segment level .our north america retail operating segment reflects business with a wide variety of grocery stores , mass merchandisers , membership stores , natural food chains , drug , dollar and discount chains , and e-commerce gro- cery providers .our product categories in this business 84 general mills .
|
in 2017 what was the percent of the total non-cancelable future lease commitments are for operating leases that was due in 2018
|
23.7%
|
{
"answer": "23.7%",
"decimal": 0.237,
"type": "percentage"
}
| |
for intangible assets subject to amortization , the estimated aggregate amortization expense for each of the five succeeding fiscal years is as follows : 2009 - $ 41.1 million , 2010 - $ 27.3 million , 2011 - $ 20.9 million , 2012 - $ 17.0 million , and 2013 - $ 12.0 million .fees and expenses related to the merger totaled $ 102.6 million , principally consisting of investment banking fees , legal fees and stock compensation ( $ 39.4 million as further discussed in note 10 ) , and are reflected in the 2007 results of operations .capitalized debt issuance costs as of the merger date of $ 87.4 million for merger-related financing were reflected in other long- term assets in the consolidated balance sheet .the following represents the unaudited pro forma results of the company 2019s consolidated operations as if the merger had occurred on february 3 , 2007 and february 4 , 2006 , respectively , after giving effect to certain adjustments , including the depreciation and amortization of the assets acquired based on their estimated fair values and changes in interest expense resulting from changes in consolidated debt ( in thousands ) : ( in thousands ) year ended february 1 , year ended february 2 .
[['( in thousands )', 'year endedfebruary 12008', 'year endedfebruary 22007'], ['revenue', '$ 9495246', '$ 9169822'], ['net loss', '-57939 ( 57939 )', '( 156188 )']]
the pro forma information does not purport to be indicative of what the company 2019s results of operations would have been if the acquisition had in fact occurred at the beginning of the periods presented , and is not intended to be a projection of the company 2019s future results of operations .subsequent to the announcement of the merger agreement , the company and its directors , along with other parties , were named in seven putative class actions filed in tennessee state courts alleging claims for breach of fiduciary duty arising out of the proposed merger , all as described more fully under 201clegal proceedings 201d in note 8 below .3 .strategic initiatives during 2006 , the company began implementing certain strategic initiatives related to its historical inventory management and real estate strategies , as more fully described below .inventory management in november 2006 , the company undertook an initiative to discontinue its historical inventory packaway model for virtually all merchandise by the end of fiscal 2007 .under the packaway model , certain unsold inventory items ( primarily seasonal merchandise ) were stored on-site and returned to the sales floor until the items were eventually sold , damaged or discarded .through end-of-season and other markdowns , this initiative resulted in the elimination of seasonal , home products and basic clothing packaway merchandise to allow for increased levels of newer , current-season merchandise .in connection with this strategic change , in the third quarter of 2006 the company recorded a reserve for lower of cost or market inventory .
|
what is the growth rate of revenue from 2007 to 2008?
|
3.5%
|
{
"answer": "3.5%",
"decimal": 0.035,
"type": "percentage"
}
| |
system energy resources , inc .management 2019s financial discussion and analysis sources of capital system energy 2019s sources to meet its capital requirements include : internally generated funds ; cash on hand ; debt issuances ; and bank financing under new or existing facilities .system energy may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable .all debt and common stock issuances by system energy require prior regulatory approval .debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements .system energy has sufficient capacity under these tests to meet its foreseeable capital needs .in february 2012 , system energy vie issued $ 50 million of 4.02% ( 4.02 % ) series h notes due february 2017 .system energy used the proceeds to purchase additional nuclear fuel .system energy has obtained a short-term borrowing authorization from the ferc under which it may borrow , through october 2013 , up to the aggregate amount , at any one time outstanding , of $ 200 million .see note 4 to the financial statements for further discussion of system energy 2019s short-term borrowing limits .system energy has also obtained an order from the ferc authorizing long-term securities issuances .the current long-term authorization extends through july 2013 .system energy 2019s receivables from the money pool were as follows as of december 31 for each of the following years: .
[['2011', '2010', '2009', '2008'], ['( in thousands )', '( in thousands )', '( in thousands )', '( in thousands )'], ['$ 120424', '$ 97948', '$ 90507', '$ 42915']]
see note 4 to the financial statements for a description of the money pool .nuclear matters system energy owns and operates grand gulf .system energy is , therefore , subject to the risks related to owning and operating a nuclear plant .these include risks from the use , storage , handling and disposal of high- level and low-level radioactive materials , regulatory requirement changes , including changes resulting from events at other plants , limitations on the amounts and types of insurance commercially available for losses in connection with nuclear operations , and technological and financial uncertainties related to decommissioning nuclear plants at the end of their licensed lives , including the sufficiency of funds in decommissioning trusts .in the event of an unanticipated early shutdown of grand gulf , system energy may be required to provide additional funds or credit support to satisfy regulatory requirements for decommissioning .after the nuclear incident in japan resulting from the march 2011 earthquake and tsunami , the nrc established a task force to conduct a review of processes and regulations relating to nuclear facilities in the united states .the task force issued a near term ( 90-day ) report in july 2011 that has made recommendations , which are currently being evaluated by the nrc .it is anticipated that the nrc will issue certain orders and requests for information to nuclear plant licensees by the end of the first quarter 2012 that will begin to implement the task force 2019s recommendations .these orders may require u.s .nuclear operators , including entergy , to undertake plant modifications or perform additional analyses that could , among other things , result in increased costs and capital requirements associated with operating entergy 2019s nuclear plants. .
|
what is the total system energy 2019s receivables from the money pool in the last three years?
|
308879
|
{
"answer": "308879",
"decimal": 308879,
"type": "float"
}
| |
agreements associated with the agency securitizations , most sale agreements do not provide for penalties or other remedies if we do not respond timely to investor indemnification or repurchase requests .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 and home equity loans/lines 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 and our estimate of future claims on a loan by loan basis .these relate primarily to loans originated during 2006-2008 .for the home equity loans/lines sold portfolio , we have established indemnification and repurchase liabilities based upon this same methodology for loans sold during 2005-2007 .indemnification and repurchase liabilities are initially recognized when loans are sold to investors and are subsequently evaluated by management .initial recognition and subsequent adjustments to the indemnification and repurchase liability for the sold residential mortgage portfolio are recognized in residential mortgage revenue on the consolidated income statement .since pnc is no longer engaged in the brokered home equity lending business , only subsequent adjustments are recognized to the home equity loans/lines indemnification and repurchase liability .these adjustments are recognized in other noninterest income on the consolidated income statement .management 2019s subsequent evaluation of these indemnification and repurchase liabilities is based upon trends in indemnification and repurchase requests , actual loss experience , risks in the underlying serviced loan portfolios , and current economic conditions .as part of its evaluation , management considers estimated loss projections over the life of the subject loan portfolio .at december 31 , 2011 and december 31 , 2010 , the total indemnification and repurchase liability for estimated losses on indemnification and repurchase claims totaled $ 130 million and $ 294 million , respectively , and was included in other liabilities on the consolidated balance sheet .an analysis of the changes in this liability during 2011 and 2010 follows : analysis of indemnification and repurchase liability for asserted claims and unasserted claims .
[['in millions', '2011 residential mortgages ( a )', '2011 home equity loans/lines ( b )', '2011 total', '2011 residential mortgages ( a )', '2011 home equity loans/lines ( b )', 'total'], ['january 1', '$ 144', '$ 150', '$ 294', '$ 229', '$ 41', '$ 270'], ['reserve adjustments net', '102', '4', '106', '120', '144', '264'], ['losses 2013 loan repurchases and settlements', '-163 ( 163 )', '-107 ( 107 )', '-270 ( 270 )', '-205 ( 205 )', '-35 ( 35 )', '-240 ( 240 )'], ['december 31', '$ 83', '$ 47', '$ 130', '$ 144', '$ 150', '$ 294']]
( a ) repurchase obligation associated with sold loan portfolios of $ 121.4 billion and $ 139.8 billion at december 31 , 2011 and december 31 , 2010 , respectively .( b ) repurchase obligation associated with sold loan portfolios of $ 4.5 billion and $ 6.5 billion at december 31 , 2011 and december 31 , 2010 , respectively .pnc is no longer engaged in the brokered home equity lending business , which was acquired with national city .management believes our indemnification and repurchase liabilities appropriately reflect the estimated probable losses on investor indemnification and repurchase claims at december 31 , 2011 and 2010 .while management seeks to obtain all relevant information in estimating the indemnification and repurchase liability , the estimation process is inherently uncertain and imprecise and , accordingly , it is reasonably possible that future indemnification and repurchase losses could be more or less than our established liability .factors that could affect our estimate include the volume of valid claims driven by investor strategies and behavior , our ability to successfully negotiate claims with investors , housing prices , and other economic conditions .at december 31 , 2011 , we estimate that it is reasonably possible that we could incur additional losses in excess of our indemnification and repurchase liability of up to $ 85 million .this estimate of potential additional losses in excess of our liability is based on assumed higher investor demands , lower claim rescissions , and lower home prices than our current assumptions .reinsurance agreements we have two wholly-owned captive insurance subsidiaries which provide reinsurance to third-party insurers related to insurance sold to our customers .these subsidiaries enter into various types of reinsurance agreements with third-party insurers where the subsidiary assumes the risk of loss through either an excess of loss or quota share agreement up to 100% ( 100 % ) reinsurance .in excess of loss agreements , these subsidiaries assume the risk of loss for an excess layer of coverage up to specified limits , once a defined first loss percentage is met .in quota share agreements , the subsidiaries and third-party insurers share the responsibility for payment of all claims .these subsidiaries provide reinsurance for accidental death & dismemberment , credit life , accident & health , lender placed 200 the pnc financial services group , inc .2013 form 10-k .
|
what is the difference in millions between residential mortgages as of jan 1 , 2011 and dec 31 , 2011?
|
61
|
{
"answer": "61",
"decimal": 61,
"type": "float"
}
|
both years listed as 2011
|
o .segment information 2013 ( concluded ) ( 1 ) included in net sales were export sales from the u.s .of $ 246 million , $ 277 million and $ 275 million in 2010 , 2009 and 2008 , respectively .( 2 ) intra-company sales between segments represented approximately two percent of net sales in 2010 , three percent of net sales in 2009 and one percent of net sales in 2008 .( 3 ) included in net sales were sales to one customer of $ 1993 million , $ 2053 million and $ 2058 million in 2010 , 2009 and 2008 , 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 $ 5618 million , $ 5952 million and $ 7150 million in 2010 , 2009 and 2008 , respectively .( 5 ) net sales , operating ( loss ) profit , property additions and depreciation and amortization expense for 2010 , 2009 and 2008 excluded the results of businesses reported as discontinued operations in 2010 , 2009 and 2008 .( 6 ) 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 $ 720 million .included in segment operating profit ( loss ) for 2009 were impairment charges for goodwill as follows : plumbing products 2013 $ 39 million ; other specialty products 2013 $ 223 million .included in segment operating profit ( loss ) for 2008 were impairment charges for goodwill and other intangible assets as follows : cabinets and related products 2013 $ 59 million ; plumbing products 2013 $ 203 million ; installation and other services 2013 $ 52 million ; and other specialty products 2013 $ 153 million .( 7 ) general corporate expense , net included those expenses not specifically attributable to the company 2019s segments .( 8 ) during 2009 , the company recognized a curtailment loss related to the plan to freeze all future benefit accruals beginning january 1 , 2010 under substantially all of the company 2019s domestic qualified and non-qualified defined-benefit pension plans .see note m to the consolidated financial statements .( 9 ) the charge for litigation settlement in 2009 relates to a business unit in the cabinets and related products segment .the charge for litigation settlement in 2008 relates to a business unit in the installation and other services segment .( 10 ) see note l to the consolidated financial statements .( 11 ) long-lived assets of the company 2019s operations in the u.s .and europe were $ 3684 million and $ 617 million , $ 4628 million and $ 690 million , and $ 4887 million and $ 770 million at december 31 , 2010 , 2009 and 2008 , respectively .( 12 ) segment assets for 2009 and 2008 excluded the assets of businesses reported as discontinued operations .p .other income ( expense ) , net other , net , which is included in other income ( expense ) , net , was as follows , in millions: .
[['', '2010', '2009', '2008'], ['income from cash and cash investments', '$ 6', '$ 7', '$ 22'], ['other interest income', '1', '2', '2'], ['income from financial investments net ( note e )', '9', '3', '1'], ['other items net', '-9 ( 9 )', '17', '-22 ( 22 )'], ['total other net', '$ 7', '$ 29', '$ 3']]
masco corporation notes to consolidated financial statements 2014 ( continued ) .
|
what was the increase observed in the export sales among net sales during 2008 and 2009?
|
0.72%
|
{
"answer": "0.72%",
"decimal": 0.0072,
"type": "percentage"
}
|
it is the number of sales in 2009 divided by the 2008's , then subtracted 1 and turned into a percentage.\\n
|
2016 non-qualified deferred compensation as of december 31 , 2016 , mr .may had a deferred account balance under a frozen defined contribution restoration plan .the amount is deemed invested , as chosen by the participant , in certain t .rowe price investment funds that are also available to the participant under the savings plan .mr .may has elected to receive the deferred account balance after he retires .the defined contribution restoration plan , until it was frozen in 2005 , credited eligible employees 2019 deferral accounts with employer contributions to the extent contributions under the qualified savings plan in which the employee participated were subject to limitations imposed by the code .defined contribution restoration plan executive contributions in registrant contributions in aggregate earnings in 2016 ( 1 ) aggregate withdrawals/ distributions aggregate balance at december 31 , ( a ) ( b ) ( c ) ( d ) ( e ) ( f ) .
[['name', 'executive contributions in 2016 ( b )', 'registrant contributions in 2016 ( c )', 'aggregate earnings in 2016 ( 1 ) ( d )', 'aggregate withdrawals/distributions ( e )', 'aggregate balance at december 31 2016 ( a ) ( f )'], ['phillip r . may jr .', '$ 2014', '$ 2014', '$ 177', '$ 2014', '$ 1751']]
( 1 ) amounts in this column are not included in the summary compensation table .2016 potential payments upon termination or change in control entergy corporation has plans and other arrangements that provide compensation to a named executive officer if his or her employment terminates under specified conditions , including following a change in control of entergy corporation .in addition , in 2006 entergy corporation entered into a retention agreement with mr .denault that provides possibility of additional service credit under the system executive retirement plan upon certain terminations of employment .there are no plans or agreements that would provide for payments to any of the named executive officers solely upon a change in control .the tables below reflect the amount of compensation each of the named executive officers would have received if his or her employment with their entergy employer had been terminated under various scenarios as of december 31 , 2016 .for purposes of these tables , a stock price of $ 73.47 was used , which was the closing market price on december 30 , 2016 , the last trading day of the year. .
|
what was mr . may's 12/31/15 plan balance?
|
1928
|
{
"answer": "1928",
"decimal": 1928,
"type": "float"
}
| |
adobe systems incorporated notes to consolidated financial statements ( continued ) accounting for uncertainty in income taxes during fiscal 2013 and 2012 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : .
[['', '2013', '2012'], ['beginning balance', '$ 160468', '$ 163607'], ['gross increases in unrecognized tax benefits 2013 prior year tax positions', '20244', '1038'], ['gross increases in unrecognized tax benefits 2013 current year tax positions', '16777', '23771'], ['settlements with taxing authorities', '-55851 ( 55851 )', '-1754 ( 1754 )'], ['lapse of statute of limitations', '-4066 ( 4066 )', '-25387 ( 25387 )'], ['foreign exchange gains and losses', '-1474 ( 1474 )', '-807 ( 807 )'], ['ending balance', '$ 136098', '$ 160468']]
as of november 29 , 2013 , the combined amount of accrued interest and penalties related to tax positions taken on our tax returns and included in non-current income taxes payable was approximately $ 11.4 million .we file income tax returns in the u.s .on a federal basis and in many u.s .state and foreign jurisdictions .we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities .our major tax jurisdictions are the u.s. , ireland and california .for california , ireland and the u.s. , the earliest fiscal years open for examination are 2005 , 2006 and 2010 , respectively .we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from the current examinations .we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position .in july 2013 , a u.s .income tax examination covering our fiscal years 2008 and 2009 was completed .our accrued tax and interest related to these years was $ 48.4 million and was previously reported in long-term income taxes payable .we settled the tax obligation resulting from this examination with cash and income tax assets totaling $ 41.2 million , and the resulting $ 7.2 million income tax benefit was recorded in the third quarter of fiscal 2013 .the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process .these events could cause large fluctuations in the balance sheet classification of current and non-current assets and liabilities .we believe that within the next 12 months , it is reasonably possible that either certain audits will conclude or statutes of limitations on certain income tax examination periods will expire , or both .given the uncertainties described above , we can only determine a range of estimated potential decreases in underlying unrecognized tax benefits ranging from $ 0 to approximately $ 5 million .note 10 .restructuring fiscal 2011 restructuring plan in the fourth quarter of fiscal 2011 , we initiated a restructuring plan consisting of reductions in workforce and the consolidation of facilities in order to better align our resources around our digital media and digital marketing strategies .during fiscal 2013 , we continued to implement restructuring activities under this plan .total costs incurred to date and expected to be incurred for closing redundant facilities are $ 12.2 million as all facilities under this plan have been exited as of november 29 , 2013 .other restructuring plans other restructuring plans include other adobe plans and other plans associated with certain of our acquisitions that are substantially complete .we continue to make cash outlays to settle obligations under these plans , however the current impact to our consolidated financial statements is not significant .our other restructuring plans primarily consist of the 2009 restructuring plan , which was implemented in the fourth quarter of fiscal 2009 , in order to appropriately align our costs in connection with our fiscal 2010 operating plan. .
|
what is the percentage change in total gross amount of unrecognized tax benefits from 2012 to 2013?
|
-15.2%
|
{
"answer": "-15.2%",
"decimal": -0.152,
"type": "percentage"
}
| |
amounts due from related parties at december a031 , 2010 and 2009 con- sisted of the following ( in thousands ) : .
[['', '2010', '2009'], ['due from joint ventures', '$ 1062', '$ 228'], ['officers and employees', '2014', '153'], ['other', '5233', '8189'], ['related party receivables', '$ 6295', '$ 8570']]
gramercy capital corp .see note a0 6 , 201cinvestment in unconsolidated joint ventures 2014gramercy capital corp. , 201d for disclosure on related party transactions between gramercy and the company .13 2002equit y common stock our authorized capital stock consists of 260000000 shares , $ .01 par value , of which we have authorized the issuance of up to 160000000 shares of common stock , $ .01 par value per share , 75000000 shares of excess stock , $ .01 par value per share , and 25000000 shares of preferred stock , $ .01 par value per share .as of december a031 , 2010 , 78306702 shares of common stock and no shares of excess stock were issued and outstanding .in may 2009 , we sold 19550000 shares of our common stock at a gross price of $ 20.75 per share .the net proceeds from this offer- ing ( approximately $ 387.1 a0 million ) were primarily used to repurchase unsecured debt .perpetual preferred stock in january 2010 , we sold 5400000 shares of our series a0c preferred stock in an underwritten public offering .as a result of this offering , we have 11700000 shares of the series a0 c preferred stock outstanding .the shares of series a0c preferred stock have a liquidation preference of $ 25.00 per share and are redeemable at par , plus accrued and unpaid dividends , at any time at our option .the shares were priced at $ 23.53 per share including accrued dividends equating to a yield of 8.101% ( 8.101 % ) .we used the net offering proceeds of approximately $ 122.0 a0million for gen- eral corporate and/or working capital purposes , including purchases of the indebtedness of our subsidiaries and investment opportunities .in december 2003 , we sold 6300000 shares of our 7.625% ( 7.625 % ) series a0 c preferred stock , ( including the underwriters 2019 over-allotment option of 700000 shares ) with a mandatory liquidation preference of $ 25.00 per share .net proceeds from this offering ( approximately $ 152.0 a0 million ) were used principally to repay amounts outstanding under our secured and unsecured revolving credit facilities .the series a0c preferred stockholders receive annual dividends of $ 1.90625 per share paid on a quarterly basis and dividends are cumulative , subject to cer- tain provisions .since december a0 12 , 2008 , we have been entitled to redeem the series a0c preferred stock at par for cash at our option .the series a0c preferred stock was recorded net of underwriters discount and issuance costs .12 2002related part y transactions cleaning/securit y/messenger and restoration services through al l iance bui lding services , or al l iance , first qual i t y maintenance , a0l.p. , or first quality , provides cleaning , extermination and related services , classic security a0llc provides security services , bright star couriers a0llc provides messenger services , and onyx restoration works provides restoration services with respect to certain proper- ties owned by us .alliance is partially owned by gary green , a son of stephen a0l .green , the chairman of our board of directors .in addition , first quality has the non-exclusive opportunity to provide cleaning and related services to individual tenants at our properties on a basis sepa- rately negotiated with any tenant seeking such additional services .the service corp .has entered into an arrangement with alliance whereby it will receive a profit participation above a certain threshold for services provided by alliance to certain tenants at certain buildings above the base services specified in their lease agreements .alliance paid the service corporation approximately $ 2.2 a0million , $ 1.8 a0million and $ 1.4 a0million for the years ended december a031 , 2010 , 2009 and 2008 , respectively .we paid alliance approximately $ 14.2 a0million , $ 14.9 a0million and $ 15.1 a0million for three years ended december a031 , 2010 , respectively , for these ser- vices ( excluding services provided directly to tenants ) .leases nancy peck and company leases 1003 square feet of space at 420 lexington avenue under a lease that ends in august 2015 .nancy peck and company is owned by nancy peck , the wife of stephen a0l .green .the rent due pursuant to the lease is $ 35516 per annum for year one increas- ing to $ 40000 in year seven .from february 2007 through december 2008 , nancy peck and company leased 507 square feet of space at 420 a0 lexington avenue pursuant to a lease which provided for annual rental payments of approximately $ 15210 .brokerage services cushman a0 & wakefield sonnenblick-goldman , a0 llc , or sonnenblick , a nationally recognized real estate investment banking firm , provided mortgage brokerage services to us .mr . a0 morton holliday , the father of mr . a0 marc holliday , was a managing director of sonnenblick at the time of the financings .in 2009 , we paid approximately $ 428000 to sonnenblick in connection with the purchase of a sub-leasehold interest and the refinancing of 420 lexington avenue .management fees s.l .green management corp. , a consolidated entity , receives property management fees from an entity in which stephen a0l .green owns an inter- est .the aggregate amount of fees paid to s.l .green management corp .from such entity was approximately $ 390700 in 2010 , $ 351700 in 2009 and $ 353500 in 2008 .notes to consolidated financial statements .
|
how much per square foot per month does nancy peck and company charge for its 420 lexington avenue property?
|
2.95
|
{
"answer": "2.95",
"decimal": 2.95,
"type": "float"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 7 .derivative financial instruments under the terms of the credit facility , the company is required to enter into interest rate protection agreements on at least 50% ( 50 % ) of its variable rate debt .under these agreements , the company is exposed to credit risk to the extent that a counterparty fails to meet the terms of a contract .such exposure is limited to the current value of the contract at the time the counterparty fails to perform .the company believes its contracts as of december 31 , 2004 are with credit worthy institutions .as of december 31 , 2004 , the company had two interest rate caps outstanding with an aggregate notional amount of $ 350.0 million ( each at an interest rate of 6.0% ( 6.0 % ) ) that expire in 2006 .as of december 31 , 2003 , the company had three interest rate caps outstanding with an aggregate notional amount of $ 500.0 million ( each at a rate of 5.0% ( 5.0 % ) ) that expired in 2004 .as of december 31 , 2004 and 2003 , there was no fair value associated with any of these interest rate caps .during the year ended december 31 , 2003 , the company recorded an unrealized loss of approximately $ 0.3 million ( net of a tax benefit of approximately $ 0.2 million ) in other comprehensive loss for the change in fair value of cash flow hedges and reclassified $ 5.9 million ( net of a tax benefit of approximately $ 3.2 million ) into results of operations .during the year ended december 31 , 2002 , the company recorded an unrealized loss of approximately $ 9.1 million ( net of a tax benefit of approximately $ 4.9 million ) in other comprehensive loss for the change in fair value of cash flow hedges and reclassified $ 19.5 million ( net of a tax benefit of approximately $ 10.5 million ) into results of operations .hedge ineffectiveness resulted in a gain of approximately $ 1.0 million for the year ended december 31 , 2002 , which is recorded in other expense in the accompanying consolidated statement of operations .the company records the changes in fair value of its derivative instruments that are not accounted for as hedges in other expense .the company did not reclassify any derivative losses into its statement of operations for the year ended december 31 , 2004 and does not anticipate reclassifying any derivative losses into its statement of operations within the next twelve months , as there are no amounts included in other comprehensive loss as of december 31 , 2004 .8 .commitments and contingencies lease obligations 2014the company leases certain land , office and tower space under operating leases that expire over various terms .many of the leases contain renewal options with specified increases in lease payments upon exercise of the renewal option .escalation clauses present in operating leases , excluding those tied to cpi or other inflation-based indices , are straight-lined over the term of the lease .( see note 1. ) future minimum rental payments under non-cancelable operating leases include payments for certain renewal periods at the company 2019s option because failure to renew could result in a loss of the applicable tower site and related revenues from tenant leases , thereby making it reasonably assured that the company will renew the lease .such payments in effect at december 31 , 2004 are as follows ( in thousands ) : year ending december 31 .
[['2005', '$ 106116'], ['2006', '106319'], ['2007', '106095'], ['2008', '106191'], ['2009', '106214'], ['thereafter', '1570111'], ['total', '$ 2101046']]
aggregate rent expense ( including the effect of straight-line rent expense ) under operating leases for the years ended december 31 , 2004 , 2003 and 2002 approximated $ 118741000 , $ 113956000 , and $ 109644000 , respectively. .
|
what is the percentage change in aggregate rent expense from 2003 to 2004?
|
4.2%
|
{
"answer": "4.2%",
"decimal": 0.042,
"type": "percentage"
}
| |
( $ 66 million net-of-tax ) as a result of customer credits to be realized by electric customers of entergy louisiana , consistent with the terms of the stipulated settlement in the business combination proceeding .see note 2 to the financial statements for further discussion of the business combination and customer credits .results of operations for 2015 also include the sale in december 2015 of the 583 mw rhode island state energy center for a realized gain of $ 154 million ( $ 100 million net-of-tax ) on the sale and the $ 77 million ( $ 47 million net-of-tax ) write-off and regulatory charges to recognize that a portion of the assets associated with the waterford 3 replacement steam generator project is no longer probable of recovery .see note 14 to the financial statements for further discussion of the rhode island state energy center sale .see note 2 to the financial statements for further discussion of the waterford 3 replacement steam generator prudence review proceeding .net revenue utility following is an analysis of the change in net revenue comparing 2016 to 2015 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2015 net revenue', '$ 5829'], ['retail electric price', '289'], ['louisiana business combination customer credits', '107'], ['volume/weather', '14'], ['louisiana act 55 financing savings obligation', '-17 ( 17 )'], ['other', '-43 ( 43 )'], ['2016 net revenue', '$ 6179']]
the retail electric price variance is primarily due to : 2022 an increase in base rates at entergy arkansas , as approved by the apsc .the new rates were effective february 24 , 2016 and began billing with the first billing cycle of april 2016 .the increase included an interim base rate adjustment surcharge , effective with the first billing cycle of april 2016 , to recover the incremental revenue requirement for the period february 24 , 2016 through march 31 , 2016 .a significant portion of the increase was related to the purchase of power block 2 of the union power station ; 2022 an increase in the purchased power and capacity acquisition cost recovery rider for entergy new orleans , as approved by the city council , effective with the first billing cycle of march 2016 , primarily related to the purchase of power block 1 of the union power station ; 2022 an increase in formula rate plan revenues for entergy louisiana , implemented with the first billing cycle of march 2016 , to collect the estimated first-year revenue requirement related to the purchase of power blocks 3 and 4 of the union power station ; and 2022 an increase in revenues at entergy mississippi , as approved by the mpsc , effective with the first billing cycle of july 2016 , and an increase in revenues collected through the storm damage rider .see note 2 to the financial statements for further discussion of the rate proceedings .see note 14 to the financial statements for discussion of the union power station purchase .the louisiana business combination customer credits variance is due to a regulatory liability of $ 107 million recorded by entergy in october 2015 as a result of the entergy gulf states louisiana and entergy louisiana business combination .consistent with the terms of the stipulated settlement in the business combination proceeding , electric customers of entergy louisiana will realize customer credits associated with the business combination ; accordingly , in october 2015 , entergy recorded a regulatory liability of $ 107 million ( $ 66 million net-of-tax ) .these costs are being entergy corporation and subsidiaries management 2019s financial discussion and analysis .
|
what is the growth rate in net revenue in 2016?
|
6.0%
|
{
"answer": "6.0%",
"decimal": 0.06,
"type": "percentage"
}
| |
31mar201122064257 positions which were required to be capitalized .there are no positions which we anticipate could change materially within the next twelve months .liquidity and capital resources .
[['( dollars in thousands )', 'fiscal years ended october 1 2010', 'fiscal years ended october 2 2009', 'fiscal years ended october 3 2008'], ['cash and cash equivalents at beginning of period', '$ 364221', '$ 225104', '$ 241577'], ['net cash provided by operating activities', '222962', '218805', '182673'], ['net cash used in investing activities', '-95329 ( 95329 )', '-49528 ( 49528 )', '-94959 ( 94959 )'], ['net cash used in financing activities', '-38597 ( 38597 )', '-30160 ( 30160 )', '-104187 ( 104187 )'], ['cash and cash equivalents at end of period ( 1 )', '$ 453257', '$ 364221', '$ 225104']]
( 1 ) does not include restricted cash balances cash flow from operating activities : cash provided from operating activities is net income adjusted for certain non-cash items and changes in certain assets and liabilities .for fiscal year 2010 we generated $ 223.0 million in cash flow from operations , an increase of $ 4.2 million when compared to the $ 218.8 million generated in fiscal year 2009 .during fiscal year 2010 , net income increased by $ 42.3 million to $ 137.3 million when compared to fiscal year 2009 .despite the increase in net income , net cash provided by operating activities remained relatively consistent .this was primarily due to : 2022 fiscal year 2010 net income included a deferred tax expense of $ 38.5 million compared to a $ 24.9 million deferred tax benefit included in 2009 net income due to the release of the tax valuation allowance in fiscal year 2009 .2022 during fiscal year 2010 , the company invested in working capital as result of higher business activity .compared to fiscal year 2009 , accounts receivable , inventory and accounts payable increased by $ 60.9 million , $ 38.8 million and $ 42.9 million , respectively .cash flow from investing activities : cash flow from investing activities consists primarily of capital expenditures and acquisitions .we had net cash outflows of $ 95.3 million in fiscal year 2010 , compared to $ 49.5 million in fiscal year 2009 .the increase is primarily due to an increase of $ 49.8 million in capital expenditures .we anticipate our capital spending to be consistent in fiscal year 2011 to maintain our projected growth rate .cash flow from financing activities : cash flows from financing activities consist primarily of cash transactions related to debt and equity .during fiscal year 2010 , we had net cash outflows of $ 38.6 million , compared to $ 30.2 million in fiscal year 2009 .during the year we had the following significant transactions : 2022 we retired $ 53.0 million in aggregate principal amount ( carrying value of $ 51.1 million ) of 2007 convertible notes for $ 80.7 million , which included a $ 29.6 million premium paid for the equity component of the instrument .2022 we received net proceeds from employee stock option exercises of $ 40.5 million in fiscal year 2010 , compared to $ 38.7 million in fiscal year 2009 .skyworks / 2010 annual report 103 .
|
what is the percent increase in cash and cash equivalents from year 2009 to 2010?
|
24.4%
|
{
"answer": "24.4%",
"decimal": 0.244,
"type": "percentage"
}
| |
all highly liquid securities with a maturity of three months or less at the date of purchase are considered to be cash equivalents .securities with maturities greater than three months are classified as available-for-sale and are considered to be short-term investments .the carrying value of our interest-bearing instruments approximated fair value as of december 29 , 2012 .interest rates under our revolving credit facility are variable , so interest expense for periods when the credit facility is utilized could be adversely affected by changes in interest rates .interest rates under our revolving credit facility can fluctuate based on changes in market interest rates and in an interest rate margin that varies based on our consolidated leverage ratio .as of december 29 , 2012 , we had no outstanding balance on the credit facility .see note 3 in the notes to consolidated financial statements for an additional description of our credit facility .equity price risk convertible notes our 2015 notes and 2013 notes include conversion and settlement provisions that are based on the price of our common stock at conversion or at maturity of the notes .in addition , the hedges and warrants associated with these convertible notes also include settlement provisions that are based on the price of our common stock .the amount of cash we may be required to pay , or the number of shares we may be required to provide to note holders at conversion or maturity of these notes , is determined by the price of our common stock .the amount of cash or number of shares that we may receive from hedge counterparties in connection with the related hedges and the number of shares that we may be required to provide warrant counterparties in connection with the related warrants are also determined by the price of our common stock .upon the expiration of our 2015 warrants , cadence will issue shares of common stock to the purchasers of the warrants to the extent our stock price exceeds the warrant strike price of $ 10.78 at that time .the following table shows the number of shares that cadence would issue to 2015 warrant counterparties at expiration of the warrants , assuming various cadence closing stock prices on the dates of warrant expiration : shares ( in millions ) .
[['', 'shares ( in millions )'], ['$ 11.00', '0.9'], ['$ 12.00', '4.7'], ['$ 13.00', '7.9'], ['$ 14.00', '10.7'], ['$ 15.00', '13.0'], ['$ 16.00', '15.1'], ['$ 17.00', '17.0'], ['$ 18.00', '18.6'], ['$ 19.00', '20.1'], ['$ 20.00', '21.4']]
prior to the expiration of the 2015 warrants , for purposes of calculating diluted earnings per share , our diluted weighted-average shares outstanding will increase when our average closing stock price for a quarter exceeds $ 10.78 .for an additional description of our 2015 notes and 2013 notes , see note 3 in the notes to consolidated financial statements and 201cliquidity and capital resources 2014 other factors affecting liquidity and capital resources , 201d under item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations . 201d .
|
what is the percentage difference in the number of shares to be issued if the stock price closes at $ 16 compared to if it closes at $ 20?
|
42%
|
{
"answer": "42%",
"decimal": 0.42,
"type": "percentage"
}
| |
be adjusted by reference to a grid ( the 201cpricing grid 201d ) based on the consolidated leverage ratio and ranges between 1.00% ( 1.00 % ) to 1.25% ( 1.25 % ) for adjusted libor loans and 0.00% ( 0.00 % ) to 0.25% ( 0.25 % ) for alternate base rate loans .the weighted average interest rate under the outstanding term loans and revolving credit facility borrowings was 1.6% ( 1.6 % ) and 1.3% ( 1.3 % ) during the years ended december 31 , 2016 and 2015 , respectively .the company pays a commitment fee on the average daily unused amount of the revolving credit facility and certain fees with respect to letters of credit .as of december 31 , 2016 , the commitment fee was 15.0 basis points .since inception , the company incurred and deferred $ 3.9 million in financing costs in connection with the credit agreement .3.250% ( 3.250 % ) senior notes in june 2016 , the company issued $ 600.0 million aggregate principal amount of 3.250% ( 3.250 % ) senior unsecured notes due june 15 , 2026 ( the 201cnotes 201d ) .the proceeds were used to pay down amounts outstanding under the revolving credit facility .interest is payable semi-annually on june 15 and december 15 beginning december 15 , 2016 .prior to march 15 , 2026 ( three months prior to the maturity date of the notes ) , the company may redeem some or all of the notes at any time or from time to time at a redemption price equal to the greater of 100% ( 100 % ) of the principal amount of the notes to be redeemed or a 201cmake-whole 201d amount applicable to such notes as described in the indenture governing the notes , plus accrued and unpaid interest to , but excluding , the redemption date .on or after march 15 , 2026 ( three months prior to the maturity date of the notes ) , the company may redeem some or all of the notes at any time or from time to time at a redemption price equal to 100% ( 100 % ) of the principal amount of the notes to be redeemed , plus accrued and unpaid interest to , but excluding , the redemption date .the indenture governing the notes contains covenants , including limitations that restrict the company 2019s ability and the ability of certain of its subsidiaries to create or incur secured indebtedness and enter into sale and leaseback transactions and the company 2019s ability to consolidate , merge or transfer all or substantially all of its properties or assets to another person , in each case subject to material exceptions described in the indenture .the company incurred and deferred $ 5.3 million in financing costs in connection with the notes .other long term debt in december 2012 , the company entered into a $ 50.0 million recourse loan collateralized by the land , buildings and tenant improvements comprising the company 2019s corporate headquarters .the loan has a seven year term and maturity date of december 2019 .the loan bears interest at one month libor plus a margin of 1.50% ( 1.50 % ) , and allows for prepayment without penalty .the loan includes covenants and events of default substantially consistent with the company 2019s credit agreement discussed above .the loan also requires prior approval of the lender for certain matters related to the property , including transfers of any interest in the property .as of december 31 , 2016 and 2015 , the outstanding balance on the loan was $ 42.0 million and $ 44.0 million , respectively .the weighted average interest rate on the loan was 2.0% ( 2.0 % ) and 1.7% ( 1.7 % ) for the years ended december 31 , 2016 and 2015 , respectively .the following are the scheduled maturities of long term debt as of december 31 , 2016 : ( in thousands ) .
[['2017', '$ 27000'], ['2018', '27000'], ['2019', '63000'], ['2020', '25000'], ['2021', '86250'], ['2022 and thereafter', '600000'], ['total scheduled maturities of long term debt', '$ 828250'], ['current maturities of long term debt', '$ 27000']]
.
|
what percentage of total scheduled maturities of long term debt are due in 2020?
|
3%
|
{
"answer": "3%",
"decimal": 0.03,
"type": "percentage"
}
| |
dollar general corporation and subsidiaries notes to consolidated financial statements ( continued ) 3 .merger ( continued ) merger as a subsidiary of buck .the company 2019s results of operations after july 6 , 2007 include the effects of the merger .the aggregate purchase price was approximately $ 7.1 billion , including direct costs of the merger , and was funded primarily through debt financings as described more fully below in note 7 and cash equity contributions from kkr , gs capital partners vi fund , l.p .and affiliated funds ( affiliates of goldman , sachs & co. ) , and other equity co-investors ( collectively , the 2018 2018investors 2019 2019 of approximately $ 2.8 billion ( 316.2 million shares of new common stock , $ 0.875 par value per share , valued at $ 8.75 per share ) .also in connection with the merger , certain of the company 2019s management employees invested in and were issued new shares , representing less than 1% ( 1 % ) of the outstanding shares , in the company .pursuant to the terms of the merger agreement , the former holders of the predecessor 2019s common stock , par value $ 0.50 per share , received $ 22.00 per share , or approximately $ 6.9 billion , and all such shares were acquired as a result of the merger .as discussed in note 1 , the merger was accounted for as a reverse acquisition in accordance with applicable purchase accounting provisions .because of this accounting treatment , the company 2019s assets and liabilities have properly been accounted for at their estimated fair values as of the merger date .the aggregate purchase price has been allocated to the tangible and intangible assets acquired and liabilities assumed based upon an assessment of their relative fair values as of the merger date .the allocation of the purchase price is as follows ( in thousands ) : .
[['cash and cash equivalents', '$ 349615'], ['short-term investments', '30906'], ['merchandise inventories', '1368130'], ['income taxes receivable', '40199'], ['deferred income taxes', '57176'], ['prepaid expenses and other current assets', '63204'], ['property and equipment net', '1301119'], ['goodwill', '4338589'], ['intangible assets', '1396612'], ['other assets net', '66537'], ['current portion of long-term obligations', '-7088 ( 7088 )'], ['accounts payable', '-585518 ( 585518 )'], ['accrued expenses and other', '-306394 ( 306394 )'], ['income taxes payable', '-84 ( 84 )'], ['long-term obligations', '-267927 ( 267927 )'], ['deferred income taxes', '-540675 ( 540675 )'], ['other liabilities', '-208710 ( 208710 )'], ['total purchase price assigned', '$ 7095691']]
the purchase price allocation included approximately $ 4.34 billion of goodwill , none of which is expected to be deductible for tax purposes .the goodwill balance at january 30 , 2009 decreased $ 6.3 million from the balance at february 1 , 2008 due to an adjustment to income tax contingencies as further discussed in note 6. .
|
how much of the purchase price was allocated to intangibles?
|
5735201
|
{
"answer": "5735201",
"decimal": 5735201,
"type": "float"
}
|
goodwill is also an intangible
|
performance graph the graph below compares the cumulative total shareholder return on pmi's common stock with the cumulative total return for the same period of pmi's compensation survey group and the s&p 500 index .the graph assumes the investment of $ 100 as of december 31 , 2010 , in pmi common stock ( at prices quoted on the new york stock exchange ) and each of the indices as of the market close and reinvestment of dividends on a quarterly basis .date pmi pmi compensation survey group ( 12 ) s&p 500 index .
[['date', 'pmi', 'pmi compensation survey group ( 12 )', 's&p 500 index'], ['december 31 2010', '$ 100.00', '$ 100.00', '$ 100.00'], ['december 31 2011', '$ 139.80', '$ 114.10', '$ 102.10'], ['december 31 2012', '$ 154.60', '$ 128.00', '$ 118.50'], ['december 31 2013', '$ 167.70', '$ 163.60', '$ 156.80'], ['december 31 2014', '$ 164.20', '$ 170.10', '$ 178.30'], ['december 31 2015', '$ 186.20', '$ 179.20', '$ 180.80']]
( 1 ) the pmi compensation survey group consists of the following companies with substantial global sales that are direct competitors ; or have similar market capitalization ; or are primarily focused on consumer products ( excluding high technology and financial services ) ; and are companies for which comparative executive compensation data are readily available : bayer ag , british american tobacco p.l.c. , the coca-cola company , diageo plc , glaxosmithkline , heineken n.v. , imperial brands plc ( formerly , imperial tobacco group plc ) , johnson & johnson , mcdonald's corp. , international , inc. , nestl e9 s.a. , novartis ag , pepsico , inc. , pfizer inc. , roche holding ag , unilever nv and plc and vodafone group plc .( 2 ) on october 1 , 2012 , international , inc .( nasdaq : mdlz ) , formerly kraft foods inc. , announced that it had completed the spin-off of its north american grocery business , kraft foods group , inc .( nasdaq : krft ) .international , inc .was retained in the pmi compensation survey group index because of its global footprint .the pmi compensation survey group index total cumulative return calculation weights international , inc.'s total shareholder return at 65% ( 65 % ) of historical kraft foods inc.'s market capitalization on december 31 , 2010 , based on international , inc.'s initial market capitalization relative to the combined market capitalization of international , inc .and kraft foods group , inc .on october 2 , 2012 .note : figures are rounded to the nearest $ 0.10. .
|
what is the roi of an investment in s&p 500 in 2010 and liquidated in 2011?
|
2.1%
|
{
"answer": "2.1%",
"decimal": 0.021,
"type": "percentage"
}
| |
management 2019s discussion and analysis of financial condition and results of operations ( continued ) funding deposits : we provide products and services including custody , accounting , administration , daily pricing , foreign exchange services , cash management , financial asset management , securities finance and investment advisory services .as a provider of these products and services , we generate client deposits , which have generally provided a stable , low-cost source of funds .as a global custodian , clients place deposits with state street entities in various currencies .we invest these client deposits in a combination of investment securities and short- duration financial instruments whose mix is determined by the characteristics of the deposits .for the past several years , we have experienced higher client deposit inflows toward the end of the quarter or the end of the year .as a result , we believe average client deposit balances are more reflective of ongoing funding than period-end balances .table 33 : client deposits average balance december 31 , year ended december 31 .
[['( in millions )', 'december 31 , 2014', 'december 31 , 2013', 'december 31 , 2014', '2013'], ['client deposits ( 1 )', '$ 195276', '$ 182268', '$ 167470', '$ 143043']]
client deposits ( 1 ) $ 195276 $ 182268 $ 167470 $ 143043 ( 1 ) balance as of december 31 , 2014 excluded term wholesale certificates of deposit , or cds , of $ 13.76 billion ; average balances for the year ended december 31 , 2014 and 2013 excluded average cds of $ 6.87 billion and $ 2.50 billion , respectively .short-term funding : our corporate commercial paper program , under which we can issue up to $ 3.0 billion of commercial paper with original maturities of up to 270 days from the date of issuance , had $ 2.48 billion and $ 1.82 billion of commercial paper outstanding as of december 31 , 2014 and 2013 , respectively .our on-balance sheet liquid assets are also an integral component of our liquidity management strategy .these assets provide liquidity through maturities of the assets , but more importantly , they provide us with the ability to raise funds by pledging the securities as collateral for borrowings or through outright sales .in addition , our access to the global capital markets gives us the ability to source incremental funding at reasonable rates of interest from wholesale investors .as discussed earlier under 201casset liquidity , 201d state street bank's membership in the fhlb allows for advances of liquidity with varying terms against high-quality collateral .short-term secured funding also comes in the form of securities lent or sold under agreements to repurchase .these transactions are short-term in nature , generally overnight , and are collateralized by high-quality investment securities .these balances were $ 8.93 billion and $ 7.95 billion as of december 31 , 2014 and 2013 , respectively .state street bank currently maintains a line of credit with a financial institution of cad $ 800 million , or approximately $ 690 million as of december 31 , 2014 , to support its canadian securities processing operations .the line of credit has no stated termination date and is cancelable by either party with prior notice .as of december 31 , 2014 , there was no balance outstanding on this line of credit .long-term funding : as of december 31 , 2014 , state street bank had board authority to issue unsecured senior debt securities from time to time , provided that the aggregate principal amount of such unsecured senior debt outstanding at any one time does not exceed $ 5 billion .as of december 31 , 2014 , $ 4.1 billion was available for issuance pursuant to this authority .as of december 31 , 2014 , state street bank also had board authority to issue an additional $ 500 million of subordinated debt .we maintain an effective universal shelf registration that allows for the public offering and sale of debt securities , capital securities , common stock , depositary shares and preferred stock , and warrants to purchase such securities , including any shares into which the preferred stock and depositary shares may be convertible , or any combination thereof .we have issued in the past , and we may issue in the future , securities pursuant to our shelf registration .the issuance of debt or equity securities will depend on future market conditions , funding needs and other factors .agency credit ratings our ability to maintain consistent access to liquidity is fostered by the maintenance of high investment-grade ratings as measured by the major independent credit rating agencies .factors essential to maintaining high credit ratings include diverse and stable core earnings ; relative market position ; strong risk management ; strong capital ratios ; diverse liquidity sources , including the global capital markets and client deposits ; strong liquidity monitoring procedures ; and preparedness for current or future regulatory developments .high ratings limit borrowing costs and enhance our liquidity by providing assurance for unsecured funding and depositors , increasing the potential market for our debt and improving our ability to offer products , serve markets , and engage in transactions in which clients value high credit ratings .a downgrade or reduction of our credit ratings could have a material adverse effect on our liquidity by restricting our ability to access the capital .
|
what is the growth rate in the deposits of clients from 2012 to 2013?
|
8.8%
|
{
"answer": "8.8%",
"decimal": 0.08800000000000001,
"type": "percentage"
}
| |
five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the dj trans , and the s&p 500 .the graph assumes that $ 100 was invested in the common stock of union pacific corporation and each index on december 31 , 2012 and that all dividends were reinvested .the information below is historical in nature and is not necessarily indicative of future performance .purchases of equity securities 2013 during 2017 , we repurchased 37122405 shares of our common stock at an average price of $ 110.50 .the following table presents common stock repurchases during each month for the fourth quarter of 2017 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares remaining under the plan or program [b] .
[['period', 'total number of shares purchased [a]', 'average price paid per share', 'total number of shares purchased as part of a publicly announcedplan or program [b]', 'maximum number of shares remaining under the plan or program [b]'], ['oct . 1 through oct . 31', '3831636', '$ 113.61', '3800000', '89078662'], ['nov . 1 through nov . 30', '3005225', '117.07', '2937410', '86141252'], ['dec . 1 through dec . 31', '2718319', '130.76', '2494100', '83647152'], ['total', '9555180', '$ 119.58', '9231510', 'n/a']]
[a] total number of shares purchased during the quarter includes approximately 323670 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares .[b] effective january 1 , 2017 , our board of directors authorized the repurchase of up to 120 million shares of our common stock by december 31 , 2020 .these repurchases may be made on the open market or through other transactions .our management has sole discretion with respect to determining the timing and amount of these transactions. .
|
for the fourth quarter of 2017 what was the percent of the total number of shares purchased in october
|
40.1%
|
{
"answer": "40.1%",
"decimal": 0.401,
"type": "percentage"
}
| |
stockholder return performance graph the following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the nasdaq composite index and the s&p 400 information technology index .the graph assumes that the value of the investment in our common stock and in each index on december 31 , 2011 ( including reinvestment of dividends ) was $ 100 and tracks it each year thereafter on the last day of our fiscal year through december 31 , 2016 and , for each index , on the last day of the calendar year .comparison of 5 year cumulative total return* among cadence design systems , inc. , the nasdaq composite index , and s&p 400 information technology cadence design systems , inc .nasdaq composite s&p 400 information technology 12/31/1612/28/13 1/2/1612/31/11 1/3/1512/29/12 *$ 100 invested on 12/31/11 in stock or 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. .
[['', '12/31/2011', '12/29/2012', '12/28/2013', '1/3/2015', '1/2/2016', '12/31/2016'], ['cadence design systems inc .', '100.00', '129.23', '133.94', '181.06', '200.10', '242.50'], ['nasdaq composite', '100.00', '116.41', '165.47', '188.69', '200.32', '216.54'], ['s&p 400 information technology', '100.00', '118.41', '165.38', '170.50', '178.74', '219.65']]
the stock price performance included in this graph is not necessarily indicative of future stock price performance. .
|
what was the difference in percentage cumulative 5-year total stockholder return on cadence design systems inc . common stock and the s&p 400 information technology for the period ended 12/31/2016?
|
22.85%
|
{
"answer": "22.85%",
"decimal": 0.2285,
"type": "percentage"
}
| |
marathon oil corporation notes to consolidated financial statements been reported as discontinued operations in the consolidated statements of income and the consolidated statements of cash flows for all periods presented .discontinued operations 2014revenues and pretax income associated with our discontinued irish and gabonese operations are shown in the following table : ( in millions ) 2009 2008 2007 .
[['( in millions )', '2009', '2008', '2007'], ['revenues applicable to discontinued operations', '$ 188', '$ 439', '$ 456'], ['pretax income from discontinued operations', '$ 80', '$ 221', '$ 281']]
angola disposition 2013 in july 2009 , we entered into an agreement to sell an undivided 20 percent outside- operated interest in the production sharing contract and joint operating agreement in block 32 offshore angola for $ 1.3 billion , excluding any purchase price adjustments at closing , with an effective date of january 1 , 2009 .the sale closed and we received net proceeds of $ 1.3 billion in february 2010 .the pretax gain on the sale will be approximately $ 800 million .we retained a 10 percent outside-operated interest in block 32 .gabon disposition 2013 in december 2009 , we closed the sale of our operated fields offshore gabon , receiving net proceeds of $ 269 million , after closing adjustments .a $ 232 million pretax gain on this disposition was reported in discontinued operations for 2009 .permian basin disposition 2013 in june 2009 , we closed the sale of our operated and a portion of our outside- operated permian basin producing assets in new mexico and west texas for net proceeds after closing adjustments of $ 293 million .a $ 196 million pretax gain on the sale was recorded .ireland dispositions 2013 in april 2009 , we closed the sale of our operated properties in ireland for net proceeds of $ 84 million , after adjusting for cash held by the sold subsidiary .a $ 158 million pretax gain on the sale was recorded .as a result of this sale , we terminated our pension plan in ireland , incurring a charge of $ 18 million .in june 2009 , we entered into an agreement to sell the subsidiary holding our 19 percent outside-operated interest in the corrib natural gas development offshore ireland .total proceeds were estimated to range between $ 235 million and $ 400 million , subject to the timing of first commercial gas at corrib and closing adjustments .at closing on july 30 , 2009 , the initial $ 100 million payment plus closing adjustments was received .the fair value of the proceeds was estimated to be $ 311 million .fair value of anticipated sale proceeds includes ( i ) $ 100 million received at closing , ( ii ) $ 135 million minimum amount due at the earlier of first gas or december 31 , 2012 , and ( iii ) a range of zero to $ 165 million of contingent proceeds subject to the timing of first commercial gas .a $ 154 million impairment of the held for sale asset was recognized in discontinued operations in the second quarter of 2009 ( see note 16 ) since the fair value of the disposal group was less than the net book value .final proceeds will range between $ 135 million ( minimum amount ) to $ 300 million and are due on the earlier of first commercial gas or december 31 , 2012 .the fair value of the expected final proceeds was recorded as an asset at closing .as a result of new public information in the fourth quarter of 2009 , a writeoff was recorded on the contingent portion of the proceeds ( see note 10 ) .existing guarantees of our subsidiaries 2019 performance issued to irish government entities will remain in place after the sales until the purchasers issue similar guarantees to replace them .the guarantees , related to asset retirement obligations and natural gas production levels , have been indemnified by the purchasers .the fair value of these guarantees is not significant .norwegian disposition 2013 on october 31 , 2008 , we closed the sale of our norwegian outside-operated e&p properties and undeveloped offshore acreage in the heimdal area of the norwegian north sea for net proceeds of $ 301 million , with a pretax gain of $ 254 million as of december 31 , 2008 .pilot travel centers disposition 2013 on october 8 , 2008 , we completed the sale of our 50 percent ownership interest in ptc .sale proceeds were $ 625 million , with a pretax gain on the sale of $ 126 million .immediately preceding the sale , we received a $ 75 million partial redemption of our ownership interest from ptc that was accounted for as a return of investment .this was an investment of our rm&t segment. .
|
what was the lowest yearly revenues applicable to discontinued operations?
|
188
|
{
"answer": "188",
"decimal": 188,
"type": "float"
}
| |
s c h e d u l e i v ace limited and subsidiaries s u p p l e m e n t a l i n f o r m a t i o n c o n c e r n i n g r e i n s u r a n c e premiums earned for the years ended december 31 , 2010 , 2009 , and 2008 ( in millions of u.s .dollars , except for percentages ) direct amount ceded to companies assumed from other companies net amount percentage of amount assumed to .
[['for the years ended december 31 2010 2009 and 2008 ( in millions of u.s . dollars except for percentages )', 'directamount', 'ceded to other companies', 'assumed from other companies', 'net amount', 'percentage of amount assumed to net'], ['2010', '$ 15780', '$ 5792', '$ 3516', '$ 13504', '26% ( 26 % )'], ['2009', '$ 15415', '$ 5943', '$ 3768', '$ 13240', '28% ( 28 % )'], ['2008', '$ 16087', '$ 6144', '$ 3260', '$ 13203', '25% ( 25 % )']]
.
|
what is the growth rate in direct amount from 2009 to 2010?
|
2.4%
|
{
"answer": "2.4%",
"decimal": 0.024,
"type": "percentage"
}
| |
table of contents totaled an absolute notional equivalent of $ 292.3 million and $ 190.5 million , respectively , with the year-over-year increase primarily driven by earnings growth .at this time , we do not hedge these long-term investment exposures .we do not use foreign exchange contracts for speculative trading purposes , nor do we hedge our foreign currency exposure in a manner that entirely offsets the effects of changes in foreign exchange rates .we regularly review our hedging program and assess the need to utilize financial instruments to hedge currency exposures on an ongoing basis .cash flow hedging 2014hedges of forecasted foreign currency revenue we may use foreign exchange purchased options or forward contracts to hedge foreign currency revenue denominated in euros , british pounds and japanese yen .we hedge these cash flow exposures to reduce the risk that our earnings and cash flows will be adversely affected by changes in exchange rates .these foreign exchange contracts , carried at fair value , may have maturities between one and twelve months .we enter into these foreign exchange contracts to hedge forecasted revenue in the normal course of business and accordingly , they are not speculative in nature .we record changes in the intrinsic value of these cash flow hedges in accumulated other comprehensive income ( loss ) until the forecasted transaction occurs .when the forecasted transaction occurs , we reclassify the related gain or loss on the cash flow hedge to revenue .in the event the underlying forecasted transaction does not occur , or it becomes probable that it will not occur , we reclassify the gain or loss on the related cash flow hedge from accumulated other comprehensive income ( loss ) to interest and other income , net on our consolidated statements of income at that time .for the fiscal year ended november 30 , 2018 , there were no net gains or losses recognized in other income relating to hedges of forecasted transactions that did not occur .balance sheet hedging 2014hedging of foreign currency assets and liabilities we hedge exposures related to our net recognized foreign currency assets and liabilities with foreign exchange forward contracts to reduce the risk that our earnings and cash flows will be adversely affected by changes in foreign currency exchange rates .these foreign exchange contracts are carried at fair value with changes in the fair value recorded as interest and other income , net .these foreign exchange contracts do not subject us to material balance sheet risk due to exchange rate movements because gains and losses on these contracts are intended to offset gains and losses on the assets and liabilities being hedged .at november 30 , 2018 , the outstanding balance sheet hedging derivatives had maturities of 180 days or less .see note 5 of our notes to consolidated financial statements for information regarding our hedging activities .interest rate risk short-term investments and fixed income securities at november 30 , 2018 , we had debt securities classified as short-term investments of $ 1.59 billion .changes in interest rates could adversely affect the market value of these investments .the following table separates these investments , based on stated maturities , to show the approximate exposure to interest rates ( in millions ) : .
[['due within one year', '$ 612.1'], ['due between one and two years', '564.2'], ['due between two and three years', '282.2'], ['due after three years', '127.7'], ['total', '$ 1586.2']]
a sensitivity analysis was performed on our investment portfolio as of november 30 , 2018 .the analysis is based on an estimate of the hypothetical changes in market value of the portfolio that would result from an immediate parallel shift in the yield curve of various magnitudes. .
|
of the short-term investments and fixed income securities at november 30 , 2018 , what percentage are due after three years?
|
8.1%
|
{
"answer": "8.1%",
"decimal": 0.081,
"type": "percentage"
}
| |
our refineries processed 944 mbpd of crude oil and 207 mbpd of other charge and blend stocks .the table below sets forth the location and daily crude oil refining capacity of each of our refineries as of december 31 , 2008 .crude oil refining capacity ( thousands of barrels per day ) 2008 .
[['( thousands of barrels per day )', '2008'], ['garyville louisiana', '256'], ['catlettsburg kentucky', '226'], ['robinson illinois', '204'], ['detroit michigan', '102'], ['canton ohio', '78'], ['texas city texas', '76'], ['st . paul park minnesota', '74'], ['total', '1016']]
our refineries include crude oil atmospheric and vacuum distillation , fluid catalytic cracking , catalytic reforming , desulfurization and sulfur recovery units .the refineries process a wide variety of crude oils and produce numerous refined products , ranging from transportation fuels , such as reformulated gasolines , blend- grade gasolines intended for blending with fuel ethanol and ultra-low sulfur diesel fuel , to heavy fuel oil and asphalt .additionally , we manufacture aromatics , cumene , propane , propylene , sulfur and maleic anhydride .our refineries are integrated with each other via pipelines , terminals and barges to maximize operating efficiency .the transportation links that connect our refineries allow the movement of intermediate products between refineries to optimize operations , produce higher margin products and utilize our processing capacity efficiently .our garyville , louisiana , refinery is located along the mississippi river in southeastern louisiana .the garyville refinery processes heavy sour crude oil into products such as gasoline , distillates , sulfur , asphalt , propane , polymer grade propylene , isobutane and coke .in 2006 , we approved an expansion of our garyville refinery by 180 mbpd to 436 mbpd , with a currently projected cost of $ 3.35 billion ( excluding capitalized interest ) .construction commenced in early 2007 and is continuing on schedule .we estimate that , as of december 31 , 2008 , this project is approximately 75 percent complete .we expect to complete the expansion in late 2009 .our catlettsburg , kentucky , refinery is located in northeastern kentucky on the western bank of the big sandy river , near the confluence with the ohio river .the catlettsburg refinery processes sweet and sour crude oils into products such as gasoline , asphalt , diesel , jet fuel , petrochemicals , propane , propylene and sulfur .our robinson , illinois , refinery is located in the southeastern illinois town of robinson .the robinson refinery processes sweet and sour crude oils into products such as multiple grades of gasoline , jet fuel , kerosene , diesel fuel , propane , propylene , sulfur and anode-grade coke .our detroit , michigan , refinery is located near interstate 75 in southwest detroit .the detroit refinery processes light sweet and heavy sour crude oils , including canadian crude oils , into products such as gasoline , diesel , asphalt , slurry , propane , chemical grade propylene and sulfur .in 2007 , we approved a heavy oil upgrading and expansion project at our detroit , michigan , refinery , with a current projected cost of $ 2.2 billion ( excluding capitalized interest ) .this project will enable the refinery to process additional heavy sour crude oils , including canadian bitumen blends , and will increase its crude oil refining capacity by about 15 percent .construction began in the first half of 2008 and is presently expected to be complete in mid-2012 .our canton , ohio , refinery is located approximately 60 miles southeast of cleveland , ohio .the canton refinery processes sweet and sour crude oils into products such as gasoline , diesel fuels , kerosene , propane , sulfur , asphalt , roofing flux , home heating oil and no .6 industrial fuel oil .our texas city , texas , refinery is located on the texas gulf coast approximately 30 miles south of houston , texas .the refinery processes sweet crude oil into products such as gasoline , propane , chemical grade propylene , slurry , sulfur and aromatics .our st .paul park , minnesota , refinery is located in st .paul park , a suburb of minneapolis-st .paul .the st .paul park refinery processes predominantly canadian crude oils into products such as gasoline , diesel , jet fuel , kerosene , asphalt , propane , propylene and sulfur. .
|
what percentage of crude oil refining capacity is located in detroit michigan?
|
10.0%
|
{
"answer": "10.0%",
"decimal": 0.1,
"type": "percentage"
}
| |
overview we finance our operations and capital expenditures through a combination of internally generated cash from operations and from borrowings under our senior secured asset-based revolving credit facility .we believe that our current sources of funds will be sufficient to fund our cash operating requirements for the next year .in addition , we believe that , in spite of the uncertainty of future macroeconomic conditions , we have adequate sources of liquidity and funding available to meet our longer-term needs .however , there are a number of factors that may negatively impact our available sources of funds .the amount of cash generated from operations will be dependent upon factors such as the successful execution of our business plan and general economic conditions .long-term debt activities during the year ended december 31 , 2014 , we had significant debt refinancings .in connection with these refinancings , we recorded a loss on extinguishment of long-term debt of $ 90.7 million in our consolidated statement of operations for the year ended december 31 , 2014 .see note 7 to the accompanying audited consolidated financial statements included elsewhere in this report for additional details .share repurchase program on november 6 , 2014 , we announced that our board of directors approved a $ 500 million share repurchase program effective immediately under which we may repurchase shares of our common stock in the open market or through privately negotiated transactions , depending on share price , market conditions and other factors .the share repurchase program does not obligate us to repurchase any dollar amount or number of shares , and repurchases may be commenced or suspended from time to time without prior notice .as of the date of this filing , no shares have been repurchased under the share repurchase program .dividends a summary of 2014 dividend activity for our common stock is shown below: .
[['dividend amount', 'declaration date', 'record date', 'payment date'], ['$ 0.0425', 'february 12 2014', 'february 25 2014', 'march 10 2014'], ['$ 0.0425', 'may 8 2014', 'may 27 2014', 'june 10 2014'], ['$ 0.0425', 'july 31 2014', 'august 25 2014', 'september 10 2014'], ['$ 0.0675', 'november 6 2014', 'november 25 2014', 'december 10 2014']]
on february 10 , 2015 , we announced that our board of directors declared a quarterly cash dividend on our common stock of $ 0.0675 per share .the dividend will be paid on march 10 , 2015 to all stockholders of record as of the close of business on february 25 , 2015 .the payment of any future dividends will be at the discretion of our board of directors and will depend upon our results of operations , financial condition , business prospects , capital requirements , contractual restrictions , any potential indebtedness we may incur , restrictions imposed by applicable law , tax considerations and other factors that our board of directors deems relevant .in addition , our ability to pay dividends on our common stock will be limited by restrictions on our ability to pay dividends or make distributions to our stockholders and on the ability of our subsidiaries to pay dividends or make distributions to us , in each case , under the terms of our current and any future agreements governing our indebtedness .table of contents .
|
was the dividend declared on february 10 , 2015 greater than the quarterly cash dividend on our common stock declared on february 12 2014?
|
yes
|
{
"answer": "yes",
"decimal": 1,
"type": "bool"
}
| |
unit shipments increased 49% ( 49 % ) to 217.4 million units in 2006 , compared to 146.0 million units in 2005 .the overall increase was driven by increased unit shipments of products for gsm , cdma and 3g technologies , partially offset by decreased unit shipments of products for iden technology .for the full year 2006 , unit shipments by the segment increased in all regions .due to the segment 2019s increase in unit shipments outpacing overall growth in the worldwide handset market , which grew approximately 20% ( 20 % ) in 2006 , the segment believes that it expanded its global handset market share to an estimated 22% ( 22 % ) for the full year 2006 .in 2006 , asp decreased approximately 11% ( 11 % ) compared to 2005 .the overall decrease in asp was driven primarily by changes in the geographic and product-tier mix of sales .by comparison , asp decreased approximately 10% ( 10 % ) in 2005 and increased approximately 15% ( 15 % ) in 2004 .asp is impacted by numerous factors , including product mix , market conditions and competitive product offerings , and asp trends often vary over time .in 2006 , the largest of the segment 2019s end customers ( including sales through distributors ) were china mobile , verizon , sprint nextel , cingular , and t-mobile .these five largest customers accounted for approximately 39% ( 39 % ) of the segment 2019s net sales in 2006 .besides selling directly to carriers and operators , the segment also sold products through a variety of third-party distributors and retailers , which accounted for approximately 38% ( 38 % ) of the segment 2019s net sales .the largest of these distributors was brightstar corporation .although the u.s .market continued to be the segment 2019s largest individual market , many of our customers , and more than 65% ( 65 % ) of the segment 2019s 2006 net sales , were outside the u.s .the largest of these international markets were china , brazil , the united kingdom and mexico .home and networks mobility segment the home and networks mobility segment designs , manufactures , sells , installs and services : ( i ) digital video , internet protocol ( 201cip 201d ) video and broadcast network interactive set-tops ( 201cdigital entertainment devices 201d ) , end-to- end video delivery solutions , broadband access infrastructure systems , and associated data and voice customer premise equipment ( 201cbroadband gateways 201d ) to cable television and telecom service providers ( collectively , referred to as the 201chome business 201d ) , and ( ii ) wireless access systems ( 201cwireless networks 201d ) , including cellular infrastructure systems and wireless broadband systems , to wireless service providers .in 2007 , the segment 2019s net sales represented 27% ( 27 % ) of the company 2019s consolidated net sales , compared to 21% ( 21 % ) in 2006 and 26% ( 26 % ) in 2005 .( dollars in millions ) 2007 2006 2005 2007 20142006 2006 20142005 years ended december 31 percent change .
[['( dollars in millions )', 'years ended december 31 2007', 'years ended december 31 2006', 'years ended december 31 2005', 'years ended december 31 2007 20142006', '2006 20142005'], ['segment net sales', '$ 10014', '$ 9164', '$ 9037', '9% ( 9 % )', '1% ( 1 % )'], ['operating earnings', '709', '787', '1232', '( 10 ) % ( % )', '( 36 ) % ( % )']]
segment results 20142007 compared to 2006 in 2007 , the segment 2019s net sales increased 9% ( 9 % ) to $ 10.0 billion , compared to $ 9.2 billion in 2006 .the 9% ( 9 % ) increase in net sales reflects a 27% ( 27 % ) increase in net sales in the home business , partially offset by a 1% ( 1 % ) decrease in net sales of wireless networks .net sales of digital entertainment devices increased approximately 43% ( 43 % ) , reflecting increased demand for digital set-tops , including hd/dvr set-tops and ip set-tops , partially offset by a decline in asp due to a product mix shift towards all-digital set-tops .unit shipments of digital entertainment devices increased 51% ( 51 % ) to 15.2 million units .net sales of broadband gateways increased approximately 6% ( 6 % ) , primarily due to higher net sales of data modems , driven by net sales from the netopia business acquired in february 2007 .net sales of wireless networks decreased 1% ( 1 % ) , primarily driven by lower net sales of iden and cdma infrastructure equipment , partially offset by higher net sales of gsm infrastructure equipment , despite competitive pricing pressure .on a geographic basis , the 9% ( 9 % ) increase in net sales reflects higher net sales in all geographic regions .the increase in net sales in north america was driven primarily by higher sales of digital entertainment devices , partially offset by lower net sales of iden and cdma infrastructure equipment .the increase in net sales in asia was primarily due to higher net sales of gsm infrastructure equipment , partially offset by lower net sales of cdma infrastructure equipment .the increase in net sales in emea was , primarily due to higher net sales of gsm infrastructure equipment , partially offset by lower demand for iden and cdma infrastructure equipment .net sales in north america continue to comprise a significant portion of the segment 2019s business , accounting for 52% ( 52 % ) of the segment 2019s total net sales in 2007 , compared to 56% ( 56 % ) of the segment 2019s total net sales in 2006 .60 management 2019s discussion and analysis of financial condition and results of operations .
|
how much segmented net sales was earned in the north america in 2007?
|
$ 5207
|
{
"answer": "$ 5207",
"decimal": 5207,
"type": "money"
}
|
in line 29 , it explains that 52% of segmented net sales was done in north america in 2007 . to find out how much net sales was created in north america we must multiple 52% by the 2007 segmented net sales . this then gives us $ 5207.3
|
2011 compared to 2010 mfc 2019s net sales for 2011 increased $ 533 million , or 8% ( 8 % ) , compared to 2010 .the increase was attributable to higher volume of about $ 420 million on air and missile defense programs ( primarily pac-3 and thaad ) ; and about $ 245 million from fire control systems programs primarily related to the sof clss program , which began late in the third quarter of 2010 .partially offsetting these increases were lower net sales due to decreased volume of approximately $ 75 million primarily from various services programs and approximately $ 20 million from tactical missile programs ( primarily mlrs and jassm ) .mfc 2019s operating profit for 2011 increased $ 96 million , or 10% ( 10 % ) , compared to 2010 .the increase was attributable to higher operating profit of about $ 60 million for air and missile defense programs ( primarily pac-3 and thaad ) as a result of increased volume and retirement of risks ; and approximately $ 25 million for various services programs .adjustments not related to volume , including net profit rate adjustments described above , were approximately $ 35 million higher in 2011 compared to 2010 .backlog 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 .backlog increased in 2011 compared to 2010 primarily due to increased orders on air and missile defense programs ( primarily thaad ) .trends we expect mfc 2019s net sales for 2013 will be comparable with 2012 .we expect low double digit percentage growth in air and missile defense programs , offset by an expected decline in volume on logistics services programs .operating profit and margin are expected to be comparable with 2012 results .mission systems and training our mst business segment provides surface ship and submarine combat systems ; sea and land-based missile defense systems ; radar systems ; mission systems and sensors for rotary and fixed-wing aircraft ; littoral combat ships ; simulation and training services ; unmanned technologies and platforms ; ship systems integration ; and military and commercial training systems .mst 2019s major programs include aegis , mk-41 vertical launching system ( vls ) , tpq-53 radar system , mh-60 , lcs , and ptds .mst 2019s operating results included the following ( in millions ) : .
[['', '2012', '2011', '2010'], ['net sales', '$ 7579', '$ 7132', '$ 7443'], ['operating profit', '737', '645', '713'], ['operating margins', '9.7% ( 9.7 % )', '9.0% ( 9.0 % )', '9.6% ( 9.6 % )'], ['backlog at year-end', '10700', '10500', '10600']]
2012 compared to 2011 mst 2019s net sales for 2012 increased $ 447 million , or 6% ( 6 % ) , compared to 2011 .the increase in net sales for 2012 was attributable to higher volume and risk retirements of approximately $ 395 million from ship and aviation system programs ( primarily ptds ; lcs ; vls ; and mh-60 ) ; about $ 115 million for training and logistics solutions programs primarily due to net sales from sim industries , which was acquired in the fourth quarter of 2011 ; and approximately $ 30 million as a result of increased volume on integrated warfare systems and sensors programs ( primarily aegis ) .partially offsetting the increases were lower net sales of approximately $ 70 million from undersea systems programs due to lower volume on an international combat system program and towed array systems ; and about $ 25 million due to lower volume on various other programs .mst 2019s operating profit for 2012 increased $ 92 million , or 14% ( 14 % ) , compared to 2011 .the increase was attributable to higher operating profit of approximately $ 175 million from ship and aviation system programs , which reflects higher volume and risk retirements on certain programs ( primarily vls ; ptds ; mh-60 ; and lcs ) and reserves of about $ 55 million for contract cost matters on ship and aviation system programs recorded in the fourth quarter of 2011 ( including the terminated presidential helicopter program ) .partially offsetting the increase was lower operating profit of approximately $ 40 million from undersea systems programs due to reduced profit booking rates on certain programs and lower volume on an international combat system program and towed array systems ; and about $ 40 million due to lower volume on various other programs .adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 150 million higher for 2012 compared to 2011. .
|
what was the ratio of the mst 2019 change in net sales compared to msf from 2010 to 2011
|
-0.58
|
{
"answer": "-0.58",
"decimal": -0.58,
"type": "float"
}
| |
management 2019s discussion and analysis business-specific limits .the firmwide finance committee sets asset and liability limits for each business and aged inventory limits for certain financial instruments as a disincentive to hold inventory over longer periods of time .these limits are set at levels which are close to actual operating levels in order to ensure prompt escalation and discussion among business managers and managers in our independent control and support functions on a routine basis .the firmwide finance committee reviews and approves balance sheet limits on a quarterly basis and may also approve changes in limits on an ad hoc basis in response to changing business needs or market conditions .monitoring of key metrics .we monitor key balance sheet metrics daily both by business and on a consolidated basis , including asset and liability size and composition , aged inventory , limit utilization , risk measures and capital usage .we allocate assets to businesses and review and analyze movements resulting from new business activity as well as market fluctuations .scenario analyses .we conduct scenario analyses to determine how we would manage the size and composition of our balance sheet and maintain appropriate funding , liquidity and capital positions in a variety of situations : 2030 these scenarios cover short-term and long-term time horizons using various macro-economic and firm-specific assumptions .we use these analyses to assist us in developing longer-term funding plans , including the level of unsecured debt issuances , the size of our secured funding program and the amount and composition of our equity capital .we also consider any potential future constraints , such as limits on our ability to grow our asset base in the absence of appropriate funding .2030 through our internal capital adequacy assessment process ( icaap ) , ccar , the stress tests we are required to conduct under the dodd-frank act , and our resolution and recovery planning , we further analyze how we would manage our balance sheet and risks through the duration of a severe crisis and we develop plans to access funding , generate liquidity , and/or redeploy or issue equity capital , as appropriate .balance sheet allocation in addition to preparing our consolidated statements of financial condition in accordance with u.s .gaap , we prepare a balance sheet that generally allocates assets to our businesses , which is a non-gaap presentation and may not be comparable to similar non-gaap presentations used by other companies .we believe that presenting our assets on this basis is meaningful because it is consistent with the way management views and manages risks associated with the firm 2019s assets and better enables investors to assess the liquidity of the firm 2019s assets .the table below presents a summary of this balance sheet allocation. .
[['in millions', 'as of december 2012', 'as of december 2011'], ['excess liquidity ( global core excess )', '$ 174622', '$ 171581'], ['other cash', '6839', '7888'], ['excess liquidity and cash', '181461', '179469'], ['secured client financing', '229442', '283707'], ['inventory', '318323', '273640'], ['secured financing agreements', '76277', '71103'], ['receivables', '36273', '35769'], ['institutional client services', '430873', '380512'], ['icbc1', '2082', '4713'], ['equity ( excluding icbc )', '21267', '23041'], ['debt', '25386', '23311'], ['receivables and other', '8421', '5320'], ['investing & lending', '57156', '56385'], ['total inventory and related assets', '488029', '436897'], ['otherassets2', '39623', '23152'], ['total assets', '$ 938555', '$ 923225']]
1 .in january 2013 , we sold approximately 45% ( 45 % ) of our ordinary shares of icbc .2 .includes assets related to our reinsurance business classified as held for sale as of december 2012 .see note 12 to the consolidated financial statements for further information .62 goldman sachs 2012 annual report .
|
what is the debt-to-asset ratio in 2011?
|
2.5%
|
{
"answer": "2.5%",
"decimal": 0.025,
"type": "percentage"
}
| |
entergy new orleans , inc .management's financial discussion and analysis entergy new orleans' receivables from 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 )'], ['$ 1413', '$ 1783', '$ 3500', '$ 9208']]
money pool activity provided $ 0.4 million of entergy new orleans' operating cash flow in 2004 , provided $ 1.7 million in 2003 , and provided $ 5.7 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 net cash used in investing activities decreased $ 15.5 million in 2004 primarily due to capital expenditures related to a turbine inspection project at a fossil plant in 2003 and decreased customer service spending .net cash used in investing activities increased $ 23.2 million in 2003 compared to 2002 primarily due to the maturity of $ 14.9 million of other temporary investments in 2002 and increased construction expenditures due to increased customer service spending .financing activities net cash used in financing activities increased $ 7.0 million in 2004 primarily due to the costs and expenses related to refinancing $ 75 million of long-term debt in 2004 and an increase of $ 2.2 million in common stock dividends paid .net cash used in financing activities increased $ 1.5 million in 2003 primarily due to additional common stock dividends paid of $ 2.2 million .in july 2003 , entergy new orleans issued $ 30 million of 3.875% ( 3.875 % ) series first mortgage bonds due august 2008 and $ 70 million of 5.25% ( 5.25 % ) series first mortgage bonds due august 2013 .the proceeds from these issuances were used to redeem , prior to maturity , $ 30 million of 7% ( 7 % ) series first mortgage bonds due july 2008 , $ 40 million of 8% ( 8 % ) series bonds due march 2006 , and $ 30 million of 6.65% ( 6.65 % ) series first mortgage bonds due march 2004 .the issuances and redemptions are not shown on the cash flow statement because the proceeds from the issuances were placed in a trust for use in the redemptions and never held as cash by entergy new orleans .see note 5 to the domestic utility companies and system energy financial statements for details on long- term debt .uses of capital entergy new orleans requires capital resources for : 2022 construction and other capital investments ; 2022 debt and preferred stock maturities ; 2022 working capital purposes , including the financing of fuel and purchased power costs ; and 2022 dividend and interest payments. .
|
what is the net cash flow from money pool activity for entergy new orleans' operating cash flow in the last three years?
|
7.8
|
{
"answer": "7.8",
"decimal": 7.8,
"type": "float"
}
| |
entergy corporation and subsidiaries notes to financial statements liability to $ 60 million , and recorded the $ 2.7 million difference as a credit to interest expense .the $ 60 million remaining liability was eliminated upon payment of the cash portion of the purchase price .as of december 31 , 2016 , entergy louisiana , in connection with the waterford 3 lease obligation , had a future minimum lease payment ( reflecting an interest rate of 8.09% ( 8.09 % ) ) of $ 57.5 million , including $ 2.3 million in interest , due january 2017 that is recorded as long-term debt .in february 2017 the leases were terminated and the leased assets were conveyed to entergy louisiana .grand gulf lease obligations in 1988 , in two separate but substantially identical transactions , system energy sold and leased back undivided ownership interests in grand gulf for the aggregate sum of $ 500 million .the initial term of the leases expired in july 2015 .system energy renewed the leases for fair market value with renewal terms expiring in july 2036 .at the end of the new lease renewal terms , system energy has the option to repurchase the leased interests in grand gulf or renew the leases at fair market value .in the event that system energy does not renew or purchase the interests , system energy would surrender such interests and their associated entitlement of grand gulf 2019s capacity and energy .system energy is required to report the sale-leaseback as a financing transaction in its financial statements .for financial reporting purposes , system energy expenses the interest portion of the lease obligation and the plant depreciation .however , operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes .consistent with a recommendation contained in a ferc audit report , system energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis , resulting in a zero net balance for the regulatory asset at the end of the lease term .the amount was a net regulatory liability of $ 55.6 million and $ 55.6 million as of december 31 , 2016 and 2015 , respectively .as of december 31 , 2016 , system energy , in connection with the grand gulf sale and leaseback transactions , had future minimum lease payments ( reflecting an implicit rate of 5.13% ( 5.13 % ) ) that are recorded as long-term debt , as follows : amount ( in thousands ) .
[['', 'amount ( in thousands )'], ['2017', '$ 17188'], ['2018', '17188'], ['2019', '17188'], ['2020', '17188'], ['2021', '17188'], ['years thereafter', '257812'], ['total', '343752'], ['less : amount representing interest', '309393'], ['present value of net minimum lease payments', '$ 34359']]
.
|
what portion of the total future minimum lease payment for entergy louisiana will be used for interest payments?
|
4.0%
|
{
"answer": "4.0%",
"decimal": 0.04,
"type": "percentage"
}
| |
part ii , item 7 in 2006 , cash provided by financing activities was $ 291 million which was primarily due to the proceeds from employee stock plans ( $ 442 million ) and an increase in debt of $ 1.5 billion partially offset by the repurchase of 17.99 million shares of schlumberger stock ( $ 1.07 billion ) and the payment of dividends to shareholders ( $ 568 million ) .schlumberger believes that at december 31 , 2006 , cash and short-term investments of $ 3.0 billion and available and unused credit facilities of $ 2.2 billion are sufficient to meet future business requirements for at least the next twelve months .summary of major contractual commitments ( stated in millions ) .
[['contractual commitments', 'total', 'payment period 2007', 'payment period 2008 - 2009', 'payment period 2010 - 2011', 'payment period after 2011'], ['debt1', '$ 5986', '$ 1322', '$ 2055', '$ 1961', '$ 648'], ['operating leases', '$ 691', '$ 191', '$ 205', '$ 106', '$ 189'], ['purchase obligations2', '$ 1526', '$ 1490', '$ 36', '$ 2013', '$ 2013']]
purchase obligations 2 $ 1526 $ 1490 $ 36 $ 2013 $ 2013 1 .excludes future payments for interest .includes amounts relating to the $ 1425 million of convertible debentures which are described in note 11 of the consolidated financial statements .2 .represents an estimate of contractual obligations in the ordinary course of business .although these contractual obligations are considered enforceable and legally binding , the terms generally allow schlumberger the option to reschedule and adjust their requirements based on business needs prior to the delivery of goods .refer to note 4 of the consolidated financial statements for details regarding potential commitments associated with schlumberger 2019s prior business acquisitions .refer to note 20 of the consolidated financial statements for details regarding schlumberger 2019s pension and other postretirement benefit obligations .schlumberger has outstanding letters of credit/guarantees which relate to business performance bonds , custom/excise tax commitments , facility lease/rental obligations , etc .these were entered into in the ordinary course of business and are customary practices in the various countries where schlumberger operates .critical accounting policies and estimates the preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the united states requires schlumberger to make estimates and assumptions that affect the reported amounts of assets and liabilities , the disclosure of contingent assets and liabilities and the reported amounts of revenue and expenses .the following accounting policies involve 201ccritical accounting estimates 201d because they are particularly dependent on estimates and assumptions made by schlumberger about matters that are inherently uncertain .a summary of all of schlumberger 2019s significant accounting policies is included in note 2 to the consolidated financial statements .schlumberger bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances , the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources .actual results may differ from these estimates under different assumptions or conditions .multiclient seismic data the westerngeco segment capitalizes the costs associated with obtaining multiclient seismic data .the carrying value of the multiclient seismic data library at december 31 , 2006 , 2005 and 2004 was $ 227 million , $ 222 million and $ 347 million , respectively .such costs are charged to cost of goods sold and services based on the percentage of the total costs to the estimated total revenue that schlumberger expects to receive from the sales of such data .however , except as described below under 201cwesterngeco purchase accounting , 201d under no circumstance will an individual survey carry a net book value greater than a 4-year straight-lined amortized value. .
|
what percentage of debt repayment will take place during 2008-2009?
|
34.3%
|
{
"answer": "34.3%",
"decimal": 0.34299999999999997,
"type": "percentage"
}
| |
agreements .deferred financing costs amounted to $ 51 million and $ 60 million , net of accumulated amortization , as of december 31 , 2007 and 2006 , respectively .amortization of deferred financing costs totaled $ 13 million , $ 15 million and $ 14 million in 2007 , 2006 and 2005 , respectively , and is included in interest expense on the accompanying statements of operations .amortization of property and equipment under capital leases totaled $ 2 million , $ 2 million and $ 3 million in 2007 , 2006 and 2005 , respectively , and is included in depreciation and amortization on the accompanying consolidated state- ments of operations .5 stockholders 2019 equity seven hundred fifty million shares of common stock , with a par value of $ 0.01 per share , are authorized , of which 522.6 million and 521.1 million were outstanding as of december 31 , 2007 and 2006 , respectively .fifty million shares of no par value preferred stock are authorized , with 4.0 million shares out- standing as of december 31 , 2007 and 2006 .dividends we are required to distribute at least 90% ( 90 % ) of our annual taxable income , excluding net capital gain , to qualify as a reit .however , our policy on common dividends is generally to distribute 100% ( 100 % ) of our estimated annual taxable income , including net capital gain , unless otherwise contractually restricted .for our preferred dividends , we will generally pay the quarterly dividend , regard- less of the amount of taxable income , unless similarly contractu- ally restricted .the amount of any dividends will be determined by host 2019s board of directors .all dividends declared in 2007 , 2006 and 2005 were determined to be ordinary income .the table below presents the amount of common and preferred dividends declared per share as follows: .
[['', '2007', '2006', '2005'], ['common stock', '$ 1.00', '$ .76', '$ .41'], ['class b preferred stock 10% ( 10 % )', '2014', '2014', '.87'], ['class c preferred stock 10% ( 10 % )', '2014', '.625', '2.50'], ['class e preferred stock 87/8% ( 87/8 % )', '2.22', '2.22', '2.22']]
class e preferred stock 8 7/8% ( 7/8 % ) 2.22 2.22 2.22 common stock on april 10 , 2006 , we issued approximately 133.5 million com- mon shares for the acquisition of hotels from starwood hotels & resorts .see note 12 , acquisitions-starwood acquisition .during 2006 , we converted our convertible subordinated debentures into approximately 24 million shares of common stock .the remainder was redeemed for $ 2 million in april 2006 .see note 4 , debt .preferred stock we currently have one class of publicly-traded preferred stock outstanding : 4034400 shares of 8 7/8% ( 7/8 % ) class e preferred stock .holders of the preferred stock are entitled to receive cumulative cash dividends at 8 7/8% ( 7/8 % ) per annum of the $ 25.00 per share liqui- dation preference , which are payable quarterly in arrears .after june 2 , 2009 , we have the option to redeem the class e preferred stock for $ 25.00 per share , plus accrued and unpaid dividends to the date of redemption .the preferred stock ranks senior to the common stock and the authorized series a junior participating preferred stock ( discussed below ) .the preferred stockholders generally have no voting rights .accrued preferred dividends at december 31 , 2007 and 2006 were approximately $ 2 million .during 2006 and 2005 , we redeemed , at par , all of our then outstanding shares of class c and b cumulative preferred stock , respectively .the fair value of the preferred stock ( which was equal to the redemption price ) exceeded the carrying value of the class c and b preferred stock by approximately $ 6 million and $ 4 million , respectively .these amounts represent the origi- nal issuance costs .the original issuance costs for the class c and b preferred stock have been reflected in the determination of net income available to common stockholders for the pur- pose of calculating our basic and diluted earnings per share in the respective years of redemption .stockholders rights plan in 1998 , the board of directors adopted a stockholder rights plan under which a dividend of one preferred stock purchase right was distributed for each outstanding share of our com- mon stock .each right when exercisable entitles the holder to buy 1/1000th of a share of a series a junior participating pre- ferred stock of ours at an exercise price of $ 55 per share , subject to adjustment .the rights are exercisable 10 days after a person or group acquired beneficial ownership of at least 20% ( 20 % ) , or began a tender or exchange offer for at least 20% ( 20 % ) , of our com- mon stock .shares owned by a person or group on november 3 , 1998 and held continuously thereafter are exempt for purposes of determining beneficial ownership under the rights plan .the rights are non-voting and expire on november 22 , 2008 , unless exercised or previously redeemed by us for $ .005 each .if we were involved in a merger or certain other business combina- tions not approved by the board of directors , each right entitles its holder , other than the acquiring person or group , to purchase common stock of either our company or the acquiror having a value of twice the exercise price of the right .stock repurchase plan our board of directors has authorized a program to repur- chase up to $ 500 million of common stock .the common stock may be purchased in the open market or through private trans- actions , dependent upon market conditions .the plan does not obligate us to repurchase any specific number of shares and may be suspended at any time at management 2019s discretion .6 income taxes we elected to be treated as a reit effective january 1 , 1999 , pursuant to the u.s .internal revenue code of 1986 , as amended .in general , a corporation that elects reit status and meets certain tax law requirements regarding the distribution of its taxable income to its stockholders as prescribed by applicable tax laws and complies with certain other requirements ( relating primarily to the nature of its assets and the sources of its revenues ) is generally not subject to federal and state income taxation on its operating income distributed to its stockholders .in addition to paying federal and state income taxes on any retained income , we are subject to taxes on 201cbuilt-in-gains 201d resulting from sales of certain assets .additionally , our taxable reit subsidiaries are subject to federal , state and foreign 63h o s t h o t e l s & r e s o r t s 2 0 0 7 60629p21-80x4 4/8/08 4:02 pm page 63 .
|
what was the percent of the increase in the common stock dividend from 2006 to 2007
|
31.6%
|
{
"answer": "31.6%",
"decimal": 0.316,
"type": "percentage"
}
|
the common stock dividend increased by 316% from 2006 to 2007
|
part ii item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities .our series a common stock , series b common stock and series c common stock are listed and traded on the nasdaq global select market ( 201cnasdaq 201d ) under the symbols 201cdisca , 201d 201cdiscb 201d and 201cdisck , 201d respectively .the following table sets forth , for the periods indicated , the range of high and low sales prices per share of our series a common stock , series b common stock and series c common stock as reported on yahoo! finance ( finance.yahoo.com ) .series a common stock series b common stock series c common stock high low high low high low fourth quarter $ 23.73 $ 16.28 $ 26.80 $ 20.00 $ 22.47 $ 15.27 third quarter $ 27.18 $ 20.80 $ 27.90 $ 22.00 $ 26.21 $ 19.62 second quarter $ 29.40 $ 25.11 $ 29.55 $ 25.45 $ 28.90 $ 24.39 first quarter $ 29.62 $ 26.34 $ 29.65 $ 27.55 $ 28.87 $ 25.76 fourth quarter $ 29.55 $ 25.01 $ 30.50 $ 26.00 $ 28.66 $ 24.20 third quarter $ 26.97 $ 24.27 $ 28.00 $ 25.21 $ 26.31 $ 23.44 second quarter $ 29.31 $ 23.73 $ 29.34 $ 24.15 $ 28.48 $ 22.54 first quarter $ 29.42 $ 24.33 $ 29.34 $ 24.30 $ 28.00 $ 23.81 as of february 21 , 2018 , there were approximately 1308 , 75 and 1414 record holders of our series a common stock , series b common stock and series c common stock , respectively .these amounts do not include the number of shareholders whose shares are held of record by banks , brokerage houses or other institutions , but include each such institution as one shareholder .we have not paid any cash dividends on our series a common stock , series b common stock or series c common stock , and we have no present intention to do so .payment of cash dividends , if any , will be determined by our board of directors after consideration of our earnings , financial condition and other relevant factors such as our credit facility's restrictions on our ability to declare dividends in certain situations .purchases of equity securities the following table presents information about our repurchases of common stock that were made through open market transactions during the three months ended december 31 , 2017 ( in millions , except per share amounts ) .period total number of series c shares purchased average paid per share : series c ( a ) total number of shares purchased as part of publicly announced plans or programs ( b ) ( c ) approximate dollar value of shares that may yet be purchased under the plans or programs ( a ) ( b ) october 1 , 2017 - october 31 , 2017 2014 $ 2014 2014 $ 2014 november 1 , 2017 - november 30 , 2017 2014 $ 2014 2014 $ 2014 december 1 , 2017 - december 31 , 2017 2014 $ 2014 2014 $ 2014 total 2014 2014 $ 2014 ( a ) the amounts do not give effect to any fees , commissions or other costs associated with repurchases of shares .( b ) under the stock repurchase program , management was authorized to purchase shares of the company's common stock from time to time through open market purchases or privately negotiated transactions at prevailing prices or pursuant to one or more accelerated stock repurchase agreements or other derivative arrangements as permitted by securities laws and other legal requirements , and subject to stock price , business and market conditions and other factors .the company's authorization under the program expired on october 8 , 2017 and we have not repurchased any shares of common stock since then .we historically have funded and in the future may fund stock repurchases through a combination of cash on hand and cash generated by operations and the issuance of debt .in the future , if further authorization is provided , we may also choose to fund stock repurchases through borrowings under our revolving credit facility or future financing transactions .there were no repurchases of our series a and b common stock during 2017 and no repurchases of series c common stock during the three months ended december 31 , 2017 .the company first announced its stock repurchase program on august 3 , 2010 .( c ) we entered into an agreement with advance/newhouse to repurchase , on a quarterly basis , a number of shares of series c-1 convertible preferred stock convertible into a number of shares of series c common stock .we did not convert any any shares of series c-1 convertible preferred stock during the three months ended december 31 , 2017 .there are no planned repurchases of series c-1 convertible preferred stock for the first quarter of 2018 as there were no repurchases of series a or series c common stock during the three months ended december 31 , 2017 .stock performance graph the following graph sets forth the cumulative total shareholder return on our series a common stock , series b common stock and series c common stock as compared with the cumulative total return of the companies listed in the standard and poor 2019s 500 stock index ( 201cs&p 500 index 201d ) and a peer group of companies comprised of cbs corporation class b common stock , scripps network interactive , inc. , time warner , inc. , twenty-first century fox , inc .class a common stock ( news corporation class a common stock prior to june 2013 ) , viacom , inc .class b common stock and the walt disney company .the graph assumes $ 100 originally invested on december 31 , 2012 in each of our series a common stock , series b common stock and series c common stock , the s&p 500 index , and the stock of our peer group companies , including reinvestment of dividends , for the years ended december 31 , 2013 , 2014 , 2015 , 2016 and 2017 .december 31 , december 31 , december 31 , december 31 , december 31 , december 31 .
[['', 'december 312012', 'december 312013', 'december 312014', 'december 312015', 'december 312016', 'december 312017'], ['disca', '$ 100.00', '$ 139.42', '$ 106.23', '$ 82.27', '$ 84.53', '$ 69.01'], ['discb', '$ 100.00', '$ 144.61', '$ 116.45', '$ 85.03', '$ 91.70', '$ 78.01'], ['disck', '$ 100.00', '$ 143.35', '$ 115.28', '$ 86.22', '$ 91.56', '$ 72.38'], ['s&p 500', '$ 100.00', '$ 129.60', '$ 144.36', '$ 143.31', '$ 156.98', '$ 187.47'], ['peer group', '$ 100.00', '$ 163.16', '$ 186.87', '$ 180.10', '$ 200.65', '$ 208.79']]
.
|
what was the percentage cumulative total shareholder return on disca common stock for the five year period ended december 31 , 2017?
|
-30.99%
|
{
"answer": "-30.99%",
"decimal": -0.3099,
"type": "percentage"
}
| |
stock-based compensation 2013 we have several stock-based compensation plans under which employees and non-employee directors receive stock options , nonvested retention shares , and nonvested stock units .we refer to the nonvested shares and stock units collectively as 201cretention awards 201d .we issue treasury shares to cover option exercises and stock unit vestings , while new shares are issued when retention shares vest .we adopted fasb statement no .123 ( r ) , share-based payment ( fas 123 ( r ) ) , on january 1 , 2006 .fas 123 ( r ) requires us to measure and recognize compensation expense for all stock-based awards made to employees and directors , including stock options .compensation expense is based on the calculated fair value of the awards as measured at the grant date and is expensed ratably over the service period of the awards ( generally the vesting period ) .the fair value of retention awards is the stock price on the date of grant , while the fair value of stock options is determined by using the black-scholes option pricing model .we elected to use the modified prospective transition method as permitted by fas 123 ( r ) and did not restate financial results for prior periods .we did not make an adjustment for the cumulative effect of these estimated forfeitures , as the impact was not material .as a result of the adoption of fas 123 ( r ) , we recognized expense for stock options in 2006 , in addition to retention awards , which were expensed prior to 2006 .stock-based compensation expense for the year ended december 31 , 2006 was $ 22 million , after tax , or $ 0.08 per basic and diluted share .this includes $ 9 million for stock options and $ 13 million for retention awards for 2006 .before taxes , stock-based compensation expense included $ 14 million for stock options and $ 21 million for retention awards for 2006 .we recorded $ 29 million of excess tax benefits as an inflow of financing activities in the consolidated statement of cash flows for the year ended december 31 , 2006 .prior to the adoption of fas 123 ( r ) , we applied the recognition and measurement principles of accounting principles board opinion no .25 , accounting for stock issued to employees , and related interpretations .no stock- based employee compensation expense related to stock option grants was reflected in net income , as all options granted under those plans had a grant price equal to the market value of our common stock on the date of grant .stock-based compensation expense related to retention shares , stock units , and other incentive plans was reflected in net income .the following table details the effect on net income and earnings per share had compensation expense for all of our stock-based awards , including stock options , been recorded in the years ended december 31 , 2005 and 2004 based on the fair value method under fasb statement no .123 , accounting for stock-based compensation .pro forma stock-based compensation expense year ended december 31 , millions of dollars , except per share amounts 2005 2004 .
[['pro forma stock-based compensation expense', 'pro forma stock-based compensation expense', ''], ['millions of dollars except per share amounts', '2005', '2004'], ['net income as reported', '$ 1026', '$ 604'], ['stock-based employee compensation expense reported in net income net of tax', '13', '13'], ['total stock-based employee compensation expense determined under fair value 2013based method for allawards net of tax [a]', '-50 ( 50 )', '-35 ( 35 )'], ['pro forma net income', '$ 989', '$ 582'], ['earnings per share 2013 basic as reported', '$ 3.89', '$ 2.33'], ['earnings per share 2013 basic pro forma', '$ 3.75', '$ 2.25'], ['earnings per share 2013 diluted as reported', '$ 3.85', '$ 2.30'], ['earnings per share 2013 diluted pro forma', '$ 3.71', '$ 2.22']]
[a] stock options for executives granted in 2003 and 2002 included a reload feature .this reload feature allowed executives to exercise their options using shares of union pacific corporation common stock that they already owned and obtain a new grant of options in the amount of the shares used for exercise plus any shares withheld for tax purposes .the reload feature of these option grants could only be exercised if the .
|
what was the percentage of the increase in the basic earnings per share 2013 as reported from 2005 to 2006
|
66.9%
|
{
"answer": "66.9%",
"decimal": 0.669,
"type": "percentage"
}
| |
table of contents extinguishment costs incurred as a result of the repayment of certain aircraft secured indebtedness , including cash interest charges and non-cash write offs of unamortized debt issuance costs .as a result of the 2013 refinancing activities and the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes in 2014 , we recognized $ 100 million less interest expense in 2014 as compared to the 2013 period .other nonoperating expense , net in 2014 consisted principally of net foreign currency losses of $ 114 million and early debt extinguishment charges of $ 56 million .other nonoperating expense , net in 2013 consisted principally of net foreign currency losses of $ 56 million and early debt extinguishment charges of $ 29 million .other nonoperating expense , net increased $ 64 million , or 73.1% ( 73.1 % ) , during 2014 primarily due to special charges recognized as a result of early debt extinguishment and an increase in foreign currency losses driven by the strengthening of the u.s .dollar in foreign currency transactions , principally in latin american markets .we recorded a $ 43 million special charge for venezuelan foreign currency losses in 2014 .see part ii , item 7a .quantitative and qualitative disclosures about market risk for further discussion of our cash held in venezuelan bolivars .in addition , our 2014 nonoperating special items included $ 56 million primarily related to the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes and other indebtedness .reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases .the following table summarizes the components included in reorganization items , net on aag 2019s consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : .
[['', '2013'], ['labor-related deemed claim ( 1 )', '$ 1733'], ['aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )', '325'], ['fair value of conversion discount ( 4 )', '218'], ['professional fees', '199'], ['other', '180'], ['total reorganization items net', '$ 2655']]
( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , we agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees .each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes .the total value of this deemed claim was approximately $ 1.7 billion .( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds .the debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the bankruptcy court to reject or modify such financing or facility agreement and the debtors believed that it was probable the motion would be approved , and there was sufficient information to estimate the claim .see note 2 to aag 2019s consolidated financial statements in part ii , item 8a for further information .( 3 ) pursuant to the plan , the debtors agreed to allow certain post-petition unsecured claims on obligations .as a result , during the year ended december 31 , 2013 , we recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $ 180 million , allowed general unsecured claims related to the 1990 and 1994 series of special facility revenue bonds that financed certain improvements at jfk , and rejected bonds that financed certain improvements at ord , which are included in the table above. .
|
what was the ratio of the labor-related deemed claim to the professional fees as part of the re-organization
|
8.7
|
{
"answer": "8.7",
"decimal": 8.7,
"type": "float"
}
|
for every dollar spend on professional fees there $ 8.7 of labor-related deemed claim
|
2022 the failure of our information systems to function as intended or their penetration by outside parties with the intent to corrupt them or our failure to comply with privacy laws and regulations could result in business disruption , litigation and regulatory action , and loss of revenue , assets or personal or other confidential data .we use information systems to help manage business processes , collect and interpret business data and communicate internally and externally with employees , suppliers , customers and others .some of these information systems are managed by third-party service providers .we have backup systems and business continuity plans in place , and we take care to protect our systems and data from unauthorized access .nevertheless , failure of our systems to function as intended , or penetration of our systems by outside parties intent on extracting or corrupting information or otherwise disrupting business processes , could place us at a competitive disadvantage , result in a loss of revenue , assets or personal or other sensitive data , litigation and regulatory action , cause damage to our reputation and that of our brands and result in significant remediation and other costs .failure to protect personal data and respect the rights of data subjects could subject us to substantial fines under regulations such as the eu general data protection regulation .2022 we may be required to replace third-party contract manufacturers or service providers with our own resources .in certain instances , we contract with third parties to manufacture some of our products or product parts or to provide other services .we may be unable to renew these agreements on satisfactory terms for numerous reasons , including government regulations .accordingly , our costs may increase significantly if we must replace such third parties with our own resources .item 1b .unresolved staff comments .item 2 .properties .at december 31 , 2017 , we operated and owned 46 manufacturing facilities and maintained contract manufacturing relationships with 25 third-party manufacturers across 23 markets .in addition , we work with 38 third-party operators in indonesia who manufacture our hand-rolled cigarettes .pmi-owned manufacturing facilities eema asia america canada total .
[['', 'eu ( 1 )', 'eema', 'asia', 'latinamerica&canada', 'total'], ['fully integrated', '7', '8', '9', '7', '31'], ['make-pack', '3', '2014', '1', '2', '6'], ['other', '3', '1', '3', '2', '9'], ['total', '13', '9', '13', '11', '46']]
( 1 ) includes facilities that produced heated tobacco units in 2017 .in 2017 , 23 of our facilities each manufactured over 10 billion cigarettes , of which eight facilities each produced over 30 billion units .our largest factories are in karawang and sukorejo ( indonesia ) , izmir ( turkey ) , krakow ( poland ) , st .petersburg and krasnodar ( russia ) , batangas and marikina ( philippines ) , berlin ( germany ) , kharkiv ( ukraine ) , and kutna hora ( czech republic ) .our smallest factories are mostly in latin america and asia , where due to tariff and other constraints we have established small manufacturing units in individual markets .we will continue to optimize our manufacturing base , taking into consideration the evolution of trade blocks .the plants and properties owned or leased and operated by our subsidiaries are maintained in good condition and are believed to be suitable and adequate for our present needs .we are integrating the production of heated tobacco units into a number of our existing manufacturing facilities and progressing with our plans to build manufacturing capacity for our other rrp platforms. .
|
what percentage of pmi-owned manufacturing facilities eema asia america canada are in asia?
|
28%
|
{
"answer": "28%",
"decimal": 0.28,
"type": "percentage"
}
| |
under this line are primarily used by our european subsidiaries to settle intercompany sales and are denominated in the respective local currencies of its european subsidiaries .the line of credit may be canceled by the bank with 30 days notice .at september 27 , 2003 , there were no outstanding borrowings under this line .in september 2001 we obtained a secured loan from wells fargo foothill , inc .the loan agreement with wells fargo foothill , inc .provides for a term loan of approximately $ 2.4 million , which we borrowed at signing , and a revolving line of credit facility .the maximum amount we can borrow under the loan agreement and amendments is $ 20.0 million .the loan agreement and amendments contain financial and other covenants and the actual amount which we can borrow under the line of credit at any time is based upon a formula tied to the amount of our qualifying accounts receivable .in july 2003 we amended this loan agreement primarily to simplify financial covenants and to reduce the fees related to this facility .the term loan accrues interest at prime plus 1.0% ( 1.0 % ) for five years .the line of credit advances accrue interest at prime plus 0.25% ( 0.25 % ) .the line of credit expires in september 2005 .we were in compliance with all covenants as of september 27 , 2003 .in april 2002 , we began an implementation project for an integrated enterprise wide software application .we began operational use of this software application at the bedford , ma and newark , de facilities on november 24 , 2002 , at the danbury , ct facility on february 24 , 2003 and at the brussels , belgium location on october 2 , 2003 .through september 27 , 2003 we have made payments totaling $ 3.4 million for hardware , software and consulting services representing substantially all of our capital commitments related to this implementation project .most of the cost has been capitalized and we began to amortize these costs over their expected useful lives in december 2002 .in september 2002 , we completed a sale/leaseback transaction for our headquarters and manufacturing facility located in bedford , massachusetts and our lorad manufacturing facility in danbury , connecticut .the transaction resulted in net proceeds to us of $ 31.4 million .the new lease for these facilities , including the associated land , has a term of 20 years , with four five-year year renewal terms , which we may exercise at our option .the basic rent for the facilities is $ 3.2 million per year , which is subject to adjustment for increases in the consumer price index .the aggregate total minimum lease payments during the initial 20-year term are $ 62.9 million .in addition , we are required to maintain the facilities during the term of the lease and to pay all taxes , insurance , utilities and other costs associated with those facilities .under the lease , we make customary representations and warranties and agree to certain financial covenants and indemnities .in the event we default on the lease , the landlord may terminate the lease , accelerate payments and collect liquidated damages .the following table summarizes our contractual obligations and commitments as of september 27 , 2003 : payments due by period ( in thousands ) contractual obligations total less than 1 year years thereafter .
[['contractual obligations', 'payments due by period ( in thousands ) total', 'payments due by period ( in thousands ) less than 1 year', 'payments due by period ( in thousands ) 2-3 years', 'payments due by period ( in thousands ) 4-5 years', 'payments due by period ( in thousands ) thereafter'], ['long term debt', '$ 2030', '$ 480', '$ 1550', '$ 2014', '$ 2014'], ['operating leases', '$ 62934', '$ 4371', '$ 8160', '$ 6482', '$ 43921'], ['total contractual cash obligations', '$ 64964', '$ 4851', '$ 9710', '$ 6482', '$ 43921']]
except as set forth above , we do not have any other significant capital commitments .we are working on several projects , with an emphasis on direct radiography plates .we believe that we have sufficient funds in order to fund our expected operations over the next twelve months .recent accounting pronouncements in december 2002 , sfas no .148 , accounting for stock-based compensation 2013 transition and disclosure was issued .sfas no .148 amends sfas no .123 to provide alternative methods of transition to the fair value method of accounting for stock-based employee compensation .in addition , sfas no .148 amends the disclosure provisions of sfas no .123 to require disclosure in the summary of significant accounting policies of the effects .
|
what percentage of total contractual obligations and commitments as of september 27 , 2003 : payments due is composed of operating leases?
|
97%
|
{
"answer": "97%",
"decimal": 0.97,
"type": "percentage"
}
| |
management 2019s discussion and analysis 128 jpmorgan chase & co./2010 annual report year ended december 31 .
[['( in millions )', '2010', '2009', '2008'], ['hedges of lending-related commitments ( a )', '$ -279 ( 279 )', '$ -3258 ( 3258 )', '$ 2216'], ['cva and hedges of cva ( a )', '-403 ( 403 )', '1920', '-2359 ( 2359 )'], ['net gains/ ( losses )', '$ -682 ( 682 )', '$ -1338 ( 1338 )', '$ -143 ( 143 )']]
( a ) these hedges do not qualify for hedge accounting under u.s .gaap .lending-related commitments jpmorgan chase uses lending-related financial instruments , such as commitments and guarantees , to meet the financing needs of its customers .the contractual amount of these financial instruments represents the maximum possible credit risk should the counterpar- ties draw down on these commitments or the firm fulfills its obliga- tion under these guarantees , and should the counterparties subsequently fail to perform according to the terms of these con- tracts .wholesale lending-related commitments were $ 346.1 billion at december 31 , 2010 , compared with $ 347.2 billion at december 31 , 2009 .the decrease reflected the january 1 , 2010 , adoption of accounting guidance related to vies .excluding the effect of the accounting guidance , lending-related commitments would have increased by $ 16.6 billion .in the firm 2019s view , the total contractual amount of these wholesale lending-related commitments is not representative of the firm 2019s actual credit risk exposure or funding requirements .in determining the amount of credit risk exposure the firm has to wholesale lend- ing-related commitments , which is used as the basis for allocating credit risk capital to these commitments , the firm has established a 201cloan-equivalent 201d amount for each commitment ; this amount represents the portion of the unused commitment or other contin- gent exposure that is expected , based on average portfolio histori- cal experience , to become drawn upon in an event of a default by an obligor .the loan-equivalent amounts of the firm 2019s lending- related commitments were $ 189.9 billion and $ 179.8 billion as of december 31 , 2010 and 2009 , respectively .country exposure the firm 2019s wholesale portfolio includes country risk exposures to both developed and emerging markets .the firm seeks to diversify its country exposures , including its credit-related lending , trading and investment activities , whether cross-border or locally funded .country exposure under the firm 2019s internal risk management ap- proach is reported based on the country where the assets of the obligor , counterparty or guarantor are located .exposure amounts , including resale agreements , are adjusted for collateral and for credit enhancements ( e.g. , guarantees and letters of credit ) pro- vided by third parties ; outstandings supported by a guarantor located outside the country or backed by collateral held outside the country are assigned to the country of the enhancement provider .in addition , the effect of credit derivative hedges and other short credit or equity trading positions are taken into consideration .total exposure measures include activity with both government and private-sector entities in a country .the firm also reports country exposure for regulatory purposes following ffiec guidelines , which are different from the firm 2019s internal risk management approach for measuring country expo- sure .for additional information on the ffiec exposures , see cross- border outstandings on page 314 of this annual report .several european countries , including greece , portugal , spain , italy and ireland , have been subject to credit deterioration due to weak- nesses in their economic and fiscal situations .the firm is closely monitoring its exposures to these five countries .aggregate net exposures to these five countries as measured under the firm 2019s internal approach was less than $ 15.0 billion at december 31 , 2010 , with no country representing a majority of the exposure .sovereign exposure in all five countries represented less than half the aggregate net exposure .the firm currently believes its exposure to these five countries is modest relative to the firm 2019s overall risk expo- sures and is manageable given the size and types of exposures to each of the countries and the diversification of the aggregate expo- sure .the firm continues to conduct business and support client activity in these countries and , therefore , the firm 2019s aggregate net exposures may vary over time .in addition , the net exposures may be impacted by changes in market conditions , and the effects of interest rates and credit spreads on market valuations .as part of its ongoing country risk management process , the firm monitors exposure to emerging market countries , and utilizes country stress tests to measure and manage the risk of extreme loss associated with a sovereign crisis .there is no common definition of emerging markets , but the firm generally includes in its definition those countries whose sovereign debt ratings are equivalent to 201ca+ 201d or lower .the table below presents the firm 2019s exposure to its top 10 emerging markets countries based on its internal measure- ment approach .the selection of countries is based solely on the firm 2019s largest total exposures by country and does not represent its view of any actual or potentially adverse credit conditions. .
|
what was the percent of the net gains and losses from cva and hedges of cva ( a )
|
59.1%
|
{
"answer": "59.1%",
"decimal": 0.591,
"type": "percentage"
}
| |
notes to consolidated financial statements ( continued ) note 8 2014commitments and contingencies ( continued ) provide renewal options for terms of 3 to 7 additional years .leases for retail space are for terms of 5 to 20 years , the majority of which are for 10 years , and often contain multi-year renewal options .as of september 29 , 2007 , the company 2019s total future minimum lease payments under noncancelable operating leases were $ 1.4 billion , of which $ 1.1 billion related to leases for retail space .rent expense under all operating leases , including both cancelable and noncancelable leases , was $ 151 million , $ 138 million , and $ 140 million in 2007 , 2006 , and 2005 , respectively .future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 29 , 2007 , are as follows ( in millions ) : fiscal years .
[['2008', '$ 155'], ['2009', '172'], ['2010', '173'], ['2011', '160'], ['2012', '148'], ['thereafter', '617'], ['total minimum lease payments', '$ 1425']]
accrued warranty and indemnifications the company offers a basic limited parts and labor warranty on its hardware products .the basic warranty period for hardware products is typically one year from the date of purchase by the end-user .the company also offers a 90-day basic warranty for its service parts used to repair the company 2019s hardware products .the company provides currently for the estimated cost that may be incurred under its basic limited product warranties at the time related revenue is recognized .factors considered in determining appropriate accruals for product warranty obligations include the size of the installed base of products subject to warranty protection , historical and projected warranty claim rates , historical and projected cost-per-claim , and knowledge of specific product failures that are outside of the company 2019s typical experience .the company assesses the adequacy of its preexisting warranty liabilities and adjusts the amounts as necessary based on actual experience and changes in future estimates .for products accounted for under subscription accounting pursuant to sop no .97-2 , the company recognizes warranty expense as incurred .the company periodically provides updates to its applications and system software to maintain the software 2019s compliance with specifications .the estimated cost to develop such updates is accounted for as warranty costs that are recognized at the time related software revenue is recognized .factors considered in determining appropriate accruals related to such updates include the number of units delivered , the number of updates expected to occur , and the historical cost and estimated future cost of the resources necessary to develop these updates. .
|
what percentage of future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year are due in 2010?
|
13%
|
{
"answer": "13%",
"decimal": 0.13,
"type": "percentage"
}
| |
there were no changes in the company 2019s valuation techniques used to measure fair values on a recurring basis as a result of adopting asc 820 .pca had no assets or liabilities that were measured on a nonrecurring basis .11 .stockholders 2019 equity on october 17 , 2007 , pca announced that its board of directors authorized a $ 150.0 million common stock repurchase program .there is no expiration date for the common stock repurchase program .through december 31 , 2008 , the company repurchased 3818729 shares of common stock , with 3142600 shares repurchased during 2008 and 676129 shares repurchased during 2007 .all repurchased shares were retired prior to december 31 , 2008 .there were no shares repurchased in 2009 .as of december 31 , 2009 , $ 65.0 million of the $ 150.0 million authorization remained available for repurchase of the company 2019s common stock .12 .commitments and contingencies capital commitments the company had authorized capital commitments of approximately $ 41.7 million and $ 43.0 million as of december 31 , 2009 and 2008 , respectively , in connection with the expansion and replacement of existing facilities and equipment .in addition , commitments at december 31 , 2009 for the major energy optimization projects at its counce and valdosta mills totaled $ 156.3 million .lease obligations pca leases space for certain of its facilities and cutting rights to approximately 91000 acres of timberland under long-term leases .the company also leases equipment , primarily vehicles and rolling stock , and other assets under long-term leases with a duration of two to seven years .the minimum lease payments under non-cancelable operating leases with lease terms in excess of one year are as follows: .
[['', '( in thousands )'], ['2010', '$ 28162'], ['2011', '25181'], ['2012', '17338'], ['2013', '11557'], ['2014', '7742'], ['thereafter', '18072'], ['total', '$ 108052']]
total lease expense , including base rent on all leases and executory costs , such as insurance , taxes , and maintenance , for the years ended december 31 , 2009 , 2008 and 2007 was $ 41.3 million , $ 41.6 million and $ 39.8 million , respectively .these costs are included in cost of goods sold and selling and administrative expenses .pca was obligated under capital leases covering buildings and machinery and equipment in the amount of $ 23.1 million and $ 23.7 million at december 31 , 2009 and 2008 , respectively .during the fourth quarter of 2008 , the company entered into a capital lease relating to buildings and machinery , totaling $ 23.9 million , payable over 20 years .this capital lease amount is a non-cash transaction and , accordingly , has been excluded packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2009 .
|
as of december 31 , 2009 , what percentage of the $ 150.0 million authorization remained available for repurchase of the company 2019s common stock?
|
43.3%
|
{
"answer": "43.3%",
"decimal": 0.433,
"type": "percentage"
}
| |
entergy gulf states louisiana , l.l.c .management 2019s financial discussion and analysis plan to spin off the utility 2019s transmission business see the 201cplan to spin off the utility 2019s transmission business 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for a discussion of this matter , including the planned retirement of debt and preferred securities .results of operations net income 2011 compared to 2010 net income increased $ 12.3 million primarily due to lower interest expense and lower other operation and maintenance expenses , offset by higher depreciation and amortization expenses and a higher effective income tax 2010 compared to 2009 net income increased $ 37.7 million primarily due to higher net revenue , a lower effective income tax rate , and lower interest expense , offset by higher other operation and maintenance expenses , lower other income , and higher taxes other than income taxes .net revenue 2011 compared to 2010 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory credits .following is an analysis of the change in net revenue comparing 2011 to 2010 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2010 net revenue', '$ 933.6'], ['retail electric price', '-20.1 ( 20.1 )'], ['volume/weather', '-5.2 ( 5.2 )'], ['fuel recovery', '14.8'], ['transmission revenue', '12.4'], ['other', '-2.1 ( 2.1 )'], ['2011 net revenue', '$ 933.4']]
the retail electric price variance is primarily due to an increase in credits passed on to customers as a result of the act 55 storm cost financing .see 201cmanagement 2019s financial discussion and analysis 2013 hurricane gustav and hurricane ike 201d and note 2 to the financial statements for a discussion of the act 55 storm cost financing .the volume/weather variance is primarily due to less favorable weather on the residential sector as well as the unbilled sales period .the decrease was partially offset by an increase of 62 gwh , or 0.3% ( 0.3 % ) , in billed electricity usage , primarily due to increased consumption by an industrial customer as a result of the customer 2019s cogeneration outage and the addition of a new production unit by the industrial customer .the fuel recovery variance resulted primarily from an adjustment to deferred fuel costs in 2010 .see note 2 to the financial statements for a discussion of fuel recovery. .
|
by what percentage point did the net income margin improve in 2010?
|
4.0
|
{
"answer": "4.0",
"decimal": 4,
"type": "float"
}
| |
table of contents the notional amounts for outstanding derivative instruments provide one measure of the transaction volume outstanding and do not represent the amount of the company 2019s exposure to credit or market loss .the credit risk amounts represent the company 2019s gross exposure to potential accounting loss on derivative instruments that are outstanding or unsettled if all counterparties failed to perform according to the terms of the contract , based on then-current currency or interest rates at each respective date .the company 2019s exposure to credit loss and market risk will vary over time as currency and interest rates change .although the table above reflects the notional and credit risk amounts of the company 2019s derivative instruments , it does not reflect the gains or losses associated with the exposures and transactions that the instruments are intended to hedge .the amounts ultimately realized upon settlement of these financial instruments , together with the gains and losses on the underlying exposures , will depend on actual market conditions during the remaining life of the instruments .the company generally enters into master netting arrangements , which are designed to reduce credit risk by permitting net settlement of transactions with the same counterparty .to further limit credit risk , the company generally enters into collateral security arrangements that provide for collateral to be received or posted when the net fair value of certain financial instruments fluctuates from contractually established thresholds .the company presents its derivative assets and derivative liabilities at their gross fair values in its consolidated balance sheets .the net cash collateral received by the company related to derivative instruments under its collateral security arrangements was $ 1.0 billion as of september 26 , 2015 and $ 2.1 billion as of september 27 , 2014 .under master netting arrangements with the respective counterparties to the company 2019s derivative contracts , the company is allowed to net settle transactions with a single net amount payable by one party to the other .as of september 26 , 2015 and september 27 , 2014 , the potential effects of these rights of set-off associated with the company 2019s derivative contracts , including the effects of collateral , would be a reduction to both derivative assets and derivative liabilities of $ 2.2 billion and $ 1.6 billion , respectively , resulting in net derivative liabilities of $ 78 million and $ 549 million , respectively .accounts receivable receivables the company has considerable trade receivables outstanding with its third-party cellular network carriers , wholesalers , retailers , value-added resellers , small and mid-sized businesses and education , enterprise and government customers .the company generally does not require collateral from its customers ; however , the company will require collateral in certain instances to limit credit risk .in addition , when possible , the company attempts to limit credit risk on trade receivables with credit insurance for certain customers or by requiring third-party financing , loans or leases to support credit exposure .these credit-financing arrangements are directly between the third-party financing company and the end customer .as such , the company generally does not assume any recourse or credit risk sharing related to any of these arrangements .as of september 26 , 2015 , the company had one customer that represented 10% ( 10 % ) or more of total trade receivables , which accounted for 12% ( 12 % ) .as of september 27 , 2014 , the company had two customers that represented 10% ( 10 % ) or more of total trade receivables , one of which accounted for 16% ( 16 % ) and the other 13% ( 13 % ) .the company 2019s cellular network carriers accounted for 71% ( 71 % ) and 72% ( 72 % ) of trade receivables as of september 26 , 2015 and september 27 , 2014 , respectively .vendor non-trade receivables the company has non-trade receivables from certain of its manufacturing vendors resulting from the sale of components to these vendors who manufacture sub-assemblies or assemble final products for the company .the company purchases these components directly from suppliers .vendor non-trade receivables from three of the company 2019s vendors accounted for 38% ( 38 % ) , 18% ( 18 % ) and 14% ( 14 % ) of total vendor non-trade receivables as of september 26 , 2015 and three of the company 2019s vendors accounted for 51% ( 51 % ) , 16% ( 16 % ) and 14% ( 14 % ) of total vendor non-trade receivables as of september 27 , 2014 .note 3 2013 consolidated financial statement details the following tables show the company 2019s consolidated financial statement details as of september 26 , 2015 and september 27 , 2014 ( in millions ) : property , plant and equipment , net .
[['', '2015', '2014'], ['land and buildings', '$ 6956', '$ 4863'], ['machinery equipment and internal-use software', '37038', '29639'], ['leasehold improvements', '5263', '4513'], ['gross property plant and equipment', '49257', '39015'], ['accumulated depreciation and amortization', '-26786 ( 26786 )', '-18391 ( 18391 )'], ['total property plant and equipment net', '$ 22471', '$ 20624']]
apple inc .| 2015 form 10-k | 53 .
|
what is the net change in total property plant and equipment net from 2014 to 2015 in millions?
|
1847
|
{
"answer": "1847",
"decimal": 1847,
"type": "float"
}
| |
notes to the audited consolidated financial statements director stock compensation subplan eastman's 2016 director stock compensation subplan ( "directors' subplan" ) , a component of the 2012 omnibus plan , remains in effect until terminated by the board of directors or the earlier termination of thf e 2012 omnibus plan .the directors' subplan provides for structured awards of restricted shares to non-employee members of the board of directors .restricted shares awarded under the directors' subplan are subject to the same terms and conditions of the 2012 omnibus plan .the directors' subplan does not constitute a separate source of shares for grant of equity awards and all shares awarded are part of the 10 million shares authorized under the 2012 omnibus plan .shares of restricted stock are granted on the first day of a non-f employee director's initial term of service and shares of restricted stock are granted each year to each non-employee director on the date of the annual meeting of stockholders .general the company is authorized by the board of directors under the 2012 omnibus plan tof provide awards to employees and non- employee members of the board of directors .it has been the company's practice to issue new shares rather than treasury shares for equity awards that require settlement by the issuance of common stock and to withhold or accept back shares awarded to cover the related income tax obligations of employee participants .shares of unrestricted common stock owned by non-d employee directors are not eligible to be withheld or acquired to satisfy the withholding obligation related to their income taxes .aa shares of unrestricted common stock owned by specified senior management level employees are accepted by the company to pay the exercise price of stock options in accordance with the terms and conditions of their awards .for 2016 , 2015 , and 2014 , total share-based compensation expense ( before tax ) of approximately $ 36 million , $ 36 million , and $ 28 million , respectively , was recognized in selling , general and administrative exd pense in the consolidated statements of earnings , comprehensive income and retained earnings for all share-based awards of which approximately $ 7 million , $ 7 million , and $ 4 million , respectively , related to stock options .the compensation expense is recognized over the substantive vesting period , which may be a shorter time period than the stated vesting period for qualifying termination eligible employees as defined in the forms of award notice .for 2016 , 2015 , and 2014 , approximately $ 2 million , $ 2 million , and $ 1 million , respectively , of stock option compensation expense was recognized due to qualifying termination eligibility preceding the requisite vesting period .stock option awards options have been granted on an annual basis to non-employee directors under the directors' subplan and predecessor plans and by the compensation and management development committee of the board of directors under the 2012 omnibus plan and predecessor plans to employees .option awards have an exercise price equal to the closing price of the company's stock on the date of grant .the term of options is 10 years with vesting periods thf at vary up to three years .vesting usually occurs ratably over the vesting period or at the end of the vesting period .the company utilizes the black scholes merton option valuation model which relies on certain assumptions to estimate an option's fair value .the weighted average assumptions used in the determination of fair value for stock options awarded in 2016 , 2015 , and 2014 are provided in the table below: .
[['assumptions', '2016', '2015', '2014'], ['expected volatility rate', '23.71% ( 23.71 % )', '24.11% ( 24.11 % )', '25.82% ( 25.82 % )'], ['expected dividend yield', '2.31% ( 2.31 % )', '1.75% ( 1.75 % )', '1.70% ( 1.70 % )'], ['average risk-free interest rate', '1.23% ( 1.23 % )', '1.45% ( 1.45 % )', '1.44% ( 1.44 % )'], ['expected term years', '5.0', '4.8', '4.7']]
.
|
what is the percent change in total share-based compensation expense between 2014 and 2015?
|
28.5%
|
{
"answer": "28.5%",
"decimal": 0.285,
"type": "percentage"
}
| |
the goldman sachs group , inc .and subsidiaries notes to consolidated financial statements lending commitments the firm 2019s lending commitments are agreements to lend with fixed termination dates and depend on the satisfaction of all contractual conditions to borrowing .these commitments are presented net of amounts syndicated to third parties .the total commitment amount does not necessarily reflect actual future cash flows because the firm may syndicate all or substantial additional portions of these commitments .in addition , commitments can expire unused or be reduced or cancelled at the counterparty 2019s request .the table below presents information about lending commitments. .
[['$ in millions', 'as of december 2018', 'as of december 2017'], ['held for investment', '$ 120997', '$ 124504'], ['held for sale', '8602', '9838'], ['at fair value', '7983', '9404'], ['total', '$ 137582', '$ 143746']]
in the table above : 2030 held for investment lending commitments are accounted for on an accrual basis .see note 9 for further information about such commitments .2030 held for sale lending commitments are accounted for at the lower of cost or fair value .2030 gains or losses related to lending commitments at fair value , if any , are generally recorded , net of any fees in other principal transactions .2030 substantially all lending commitments relates to the firm 2019s investing & lending segment .commercial lending .the firm 2019s commercial lending commitments were primarily extended to investment-grade corporate borrowers .such commitments included $ 93.99 billion as of december 2018 and $ 85.98 billion as of december 2017 , related to relationship lending activities ( principally used for operating and general corporate purposes ) and $ 27.92 billion as of december 2018 and $ 42.41 billion as of december 2017 , related to other investment banking activities ( generally extended for contingent acquisition financing and are often intended to be short-term in nature , as borrowers often seek to replace them with other funding sources ) .the firm also extends lending commitments in connection with other types of corporate lending , as well as commercial real estate financing .see note 9 for further information about funded loans .sumitomo mitsui financial group , inc .( smfg ) provides the firm with credit loss protection on certain approved loan commitments ( primarily investment-grade commercial lending commitments ) .the notional amount of such loan commitments was $ 15.52 billion as of december 2018 and $ 25.70 billion as of december 2017 .the credit loss protection on loan commitments provided by smfg is generally limited to 95% ( 95 % ) of the first loss the firm realizes on such commitments , up to a maximum of approximately $ 950 million .in addition , subject to the satisfaction of certain conditions , upon the firm 2019s request , smfg will provide protection for 70% ( 70 % ) of additional losses on such commitments , up to a maximum of $ 1.0 billion , of which $ 550 million of protection had been provided as of both december 2018 and december 2017 .the firm also uses other financial instruments to mitigate credit risks related to certain commitments not covered by smfg .these instruments primarily include credit default swaps that reference the same or similar underlying instrument or entity , or credit default swaps that reference a market index .warehouse financing .the firm provides financing to clients who warehouse financial assets .these arrangements are secured by the warehoused assets , primarily consisting of consumer and corporate loans .contingent and forward starting collateralized agreements / forward starting collateralized financings forward starting collateralized agreements includes resale and securities borrowing agreements , and forward starting collateralized financings includes repurchase and secured lending agreements that settle at a future date , generally within three business days .the firm also enters into commitments to provide contingent financing to its clients and counterparties through resale agreements .the firm 2019s funding of these commitments depends on the satisfaction of all contractual conditions to the resale agreement and these commitments can expire unused .letters of credit the firm has commitments under letters of credit issued by various banks which the firm provides to counterparties in lieu of securities or cash to satisfy various collateral and margin deposit requirements .investment commitments investment commitments includes commitments to invest in private equity , real estate and other assets directly and through funds that the firm raises and manages .investment commitments included $ 2.42 billion as of december 2018 and $ 2.09 billion as of december 2017 , related to commitments to invest in funds managed by the firm .if these commitments are called , they would be funded at market value on the date of investment .goldman sachs 2018 form 10-k 159 .
|
what is the growth rate in the balance of total lending commitments in 2018?
|
-4.3%
|
{
"answer": "-4.3%",
"decimal": -0.043,
"type": "percentage"
}
| |
2018 emerson annual report | 37 inco me taxes the provision for income taxes is based on pretax income reported in the consolidated statements of earnings and tax rates currently enacted in each jurisdiction .certain income and expense items are recognized in different time periods for financial reporting and income tax filing purposes , and deferred income taxes are provided for the effect of temporary differences .the company also provides for foreign withholding taxes and any applicable u.s .income taxes on earnings intended to be repatriated from non-u.s .locations .no provision has been made for these taxes on approximately $ 3.4 billion of undistributed earnings of non-u.s .subsidiaries as of september 30 , 2018 , as these earnings are considered indefinitely invested or otherwise retained for continuing international operations .recognition of foreign withholding taxes and any applicable u.s .income taxes on undistributed non-u.s .earnings would be triggered by a management decision to repatriate those earnings .determination of the amount of taxes that might be paid on these undistributed earnings if eventually remitted is not practicable .see note 14 .( 2 ) weighted-average common shares basic earnings per common share consider only the weighted-average of common shares outstanding while diluted earnings per common share also consider the dilutive effects of stock options and incentive shares .an inconsequential number of shares of common stock were excluded from the computation of dilutive earnings per in 2018 as the effect would have been antidilutive , while 4.5 million and 13.3 million shares of common stock were excluded in 2017 and 2016 , respectively .earnings allocated to participating securities were inconsequential for all years presented .reconciliations of weighted-average shares for basic and diluted earnings per common share follow ( shares in millions ) : 2016 2017 2018 .
[['', '2016', '2017', '2018'], ['basic shares outstanding', '644.0', '642.1', '632.0'], ['dilutive shares', '2.8', '1.3', '3.3'], ['diluted shares outstanding', '646.8', '643.4', '635.3']]
( 3 ) acquisitions and divestitures on july 17 , 2018 , the company completed the acquisition of aventics , a global provider of smart pneumatics technologies that power machine and factory automation applications , for $ 622 , net of cash acquired .this business , which has annual sales of approximately $ 425 , is reported in the industrial solutions product offering in the automation solutions segment .the company recognized goodwill of $ 358 ( $ 20 of which is expected to be tax deductible ) , and identifiable intangible assets of $ 278 , primarily intellectual property and customer relationships with a weighted-average useful life of approximately 12 years .on july 2 , 2018 , the company completed the acquisition of textron 2019s tools and test equipment business for $ 810 , net of cash acquired .this business , with annual sales of approximately $ 470 , is a manufacturer of electrical and utility tools , diagnostics , and test and measurement instruments , and is reported in the tools & home products segment .the company recognized goodwill of $ 374 ( $ 17 of which is expected to be tax deductible ) , and identifiable intangible assets of $ 358 , primarily intellectual property and customer relationships with a weighted-average useful life of approximately 14 years .on december 1 , 2017 , the company acquired paradigm , a provider of software solutions for the oil and gas industry , for $ 505 , net of cash acquired .this business had annual sales of approximately $ 140 and is included in the measurement & analytical instrumentation product offering within automation solutions .the company recognized goodwill of $ 328 ( $ 160 of which is expected to be tax deductible ) , and identifiable intangible assets of $ 238 , primarily intellectual property and customer relationships with a weighted-average useful life of approximately 11 years .during 2018 , the company also acquired four smaller businesses , two in the automation solutions segment and two in the climate technologies segment. .
|
for the aventics acquisition what was the ratio of price paid to annual sales?
|
1.46
|
{
"answer": "1.46",
"decimal": 1.46,
"type": "float"
}
|
this is a standard valuation measure and can point out if the price was in line .
|
the following table sets forth the components of foreign currency translation adjustments for fiscal 2011 , 2010 and 2009 ( in thousands ) : beginning balance foreign currency translation adjustments income tax effect relating to translation adjustments for undistributed foreign earnings ending balance $ 7632 ( 2208 ) $ 10580 $ 10640 ( 4144 ) $ 7632 $ ( 431 ) 17343 ( 6272 ) $ 10640 stock repurchase program to facilitate our stock repurchase program , designed to return value to our stockholders and minimize dilution from stock issuances , we repurchase shares in the open market and also enter into structured repurchase agreements with third-parties .authorization to repurchase shares to cover on-going dilution was not subject to expiration .however , this repurchase program was limited to covering net dilution from stock issuances and was subject to business conditions and cash flow requirements as determined by our board of directors from time to time .during the third quarter of fiscal 2010 , our board of directors approved an amendment to our stock repurchase program authorized in april 2007 from a non-expiring share-based authority to a time-constrained dollar-based authority .as part of this amendment , the board of directors granted authority to repurchase up to $ 1.6 billion in common stock through the end of fiscal 2012 .this amended program did not affect the $ 250.0 million structured stock repurchase agreement entered into during march 2010 .as of december 3 , 2010 , no prepayments remain under that agreement .during fiscal 2011 , 2010 and 2009 , we entered into several structured repurchase agreements with large financial institutions , whereupon we provided the financial institutions with prepayments totaling $ 695.0 million , $ 850.0 million and $ 350.0 million , respectively .of the $ 850.0 million of prepayments during fiscal 2010 , $ 250.0 million was under the stock repurchase program prior to the program amendment and the remaining $ 600.0 million was under the amended $ 1.6 billion time-constrained dollar- based authority .we enter into these agreements in order to take advantage of repurchasing shares at a guaranteed discount to the volume weighted average price ( 201cvwap 201d ) of our common stock over a specified period of time .we only enter into such transactions when the discount that we receive is higher than the foregone return on our cash prepayments to the financial institutions .there were no explicit commissions or fees on these structured repurchases .under the terms of the agreements , there is no requirement for the financial institutions to return any portion of the prepayment to us .the financial institutions agree to deliver shares to us at monthly intervals during the contract term .the parameters used to calculate the number of shares deliverable are : the total notional amount of the contract , the number of trading days in the contract , the number of trading days in the interval and the average vwap of our stock during the interval less the agreed upon discount .during fiscal 2011 , we repurchased approximately 21.8 million shares at an average price of $ 31.81 through structured repurchase agreements entered into during fiscal 2011 .during fiscal 2010 , we repurchased approximately 31.2 million shares at an average price of $ 29.19 through structured repurchase agreements entered into during fiscal 2009 and fiscal 2010 .during fiscal 2009 , we repurchased approximately 15.2 million shares at an average price per share of $ 27.89 through structured repurchase agreements entered into during fiscal 2008 and fiscal 2009 .for fiscal 2011 , 2010 and 2009 , the prepayments were classified as treasury stock on our consolidated balance sheets at the payment date , though only shares physically delivered to us by december 2 , 2011 , december 3 , 2010 and november 27 , 2009 were excluded from the computation of earnings per share .as of december 2 , 2011 and december 3 , 2010 , no prepayments remained under these agreements .as of november 27 , 2009 , approximately $ 59.9 million of prepayments remained under these agreements .subsequent to december 2 , 2011 , as part of our $ 1.6 billion stock repurchase program , we entered into a structured stock repurchase agreement with a large financial institution whereupon we provided them with a prepayment of $ 80.0 million .this amount will be classified as treasury stock on our consolidated balance sheets .upon completion of the $ 80.0 million stock table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) jarcamo typewritten text .
[['', '2011', '2010', '2009'], ['beginning balance', '$ 7632', '$ 10640', '$ -431 ( 431 )'], ['foreign currency translation adjustments', '5156', '-4144 ( 4144 )', '17343'], ['income tax effect relating to translation adjustments forundistributed foreign earnings', '-2208 ( 2208 )', '1136', '-6272 ( 6272 )'], ['ending balance', '$ 10580', '$ 7632', '$ 10640']]
the following table sets forth the components of foreign currency translation adjustments for fiscal 2011 , 2010 and 2009 ( in thousands ) : beginning balance foreign currency translation adjustments income tax effect relating to translation adjustments for undistributed foreign earnings ending balance $ 7632 ( 2208 ) $ 10580 $ 10640 ( 4144 ) $ 7632 $ ( 431 ) 17343 ( 6272 ) $ 10640 stock repurchase program to facilitate our stock repurchase program , designed to return value to our stockholders and minimize dilution from stock issuances , we repurchase shares in the open market and also enter into structured repurchase agreements with third-parties .authorization to repurchase shares to cover on-going dilution was not subject to expiration .however , this repurchase program was limited to covering net dilution from stock issuances and was subject to business conditions and cash flow requirements as determined by our board of directors from time to time .during the third quarter of fiscal 2010 , our board of directors approved an amendment to our stock repurchase program authorized in april 2007 from a non-expiring share-based authority to a time-constrained dollar-based authority .as part of this amendment , the board of directors granted authority to repurchase up to $ 1.6 billion in common stock through the end of fiscal 2012 .this amended program did not affect the $ 250.0 million structured stock repurchase agreement entered into during march 2010 .as of december 3 , 2010 , no prepayments remain under that agreement .during fiscal 2011 , 2010 and 2009 , we entered into several structured repurchase agreements with large financial institutions , whereupon we provided the financial institutions with prepayments totaling $ 695.0 million , $ 850.0 million and $ 350.0 million , respectively .of the $ 850.0 million of prepayments during fiscal 2010 , $ 250.0 million was under the stock repurchase program prior to the program amendment and the remaining $ 600.0 million was under the amended $ 1.6 billion time-constrained dollar- based authority .we enter into these agreements in order to take advantage of repurchasing shares at a guaranteed discount to the volume weighted average price ( 201cvwap 201d ) of our common stock over a specified period of time .we only enter into such transactions when the discount that we receive is higher than the foregone return on our cash prepayments to the financial institutions .there were no explicit commissions or fees on these structured repurchases .under the terms of the agreements , there is no requirement for the financial institutions to return any portion of the prepayment to us .the financial institutions agree to deliver shares to us at monthly intervals during the contract term .the parameters used to calculate the number of shares deliverable are : the total notional amount of the contract , the number of trading days in the contract , the number of trading days in the interval and the average vwap of our stock during the interval less the agreed upon discount .during fiscal 2011 , we repurchased approximately 21.8 million shares at an average price of $ 31.81 through structured repurchase agreements entered into during fiscal 2011 .during fiscal 2010 , we repurchased approximately 31.2 million shares at an average price of $ 29.19 through structured repurchase agreements entered into during fiscal 2009 and fiscal 2010 .during fiscal 2009 , we repurchased approximately 15.2 million shares at an average price per share of $ 27.89 through structured repurchase agreements entered into during fiscal 2008 and fiscal 2009 .for fiscal 2011 , 2010 and 2009 , the prepayments were classified as treasury stock on our consolidated balance sheets at the payment date , though only shares physically delivered to us by december 2 , 2011 , december 3 , 2010 and november 27 , 2009 were excluded from the computation of earnings per share .as of december 2 , 2011 and december 3 , 2010 , no prepayments remained under these agreements .as of november 27 , 2009 , approximately $ 59.9 million of prepayments remained under these agreements .subsequent to december 2 , 2011 , as part of our $ 1.6 billion stock repurchase program , we entered into a structured stock repurchase agreement with a large financial institution whereupon we provided them with a prepayment of $ 80.0 million .this amount will be classified as treasury stock on our consolidated balance sheets .upon completion of the $ 80.0 million stock table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) jarcamo typewritten text .
|
for the $ 1.6 billion stock repurchase program , what percentage was the structured stock repurchase agreement with a large financial institution?
|
5%
|
{
"answer": "5%",
"decimal": 0.05,
"type": "percentage"
}
|
converted the billions to millions
|
human capital management strategic imperative entergy engaged in a strategic imperative intended to optimize the organization through a process known as human capital management .in july 2013 management completed a comprehensive review of entergy 2019s organization design and processes .this effort resulted in a new internal organization structure , which resulted in the elimination of approximately 800 employee positions .entergy incurred approximately $ 110 million in costs in 2013 associated with this phase of human capital management , primarily implementation costs , severance expenses , pension curtailment losses , special termination benefits expense , and corporate property , plant , and equipment impairments .in december 2013 , entergy deferred for future recovery approximately $ 45 million of these costs , as approved by the apsc and the lpsc .see note 2 to the financial statements for details of the deferrals and note 13 to the financial statements for details of the restructuring charges .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. .
[['', '2013', '2012'], ['debt to capital', '57.9% ( 57.9 % )', '58.7% ( 58.7 % )'], ['effect of excluding securitization bonds', '( 1.6% ( 1.6 % ) )', '( 1.8% ( 1.8 % ) )'], ['debt to capital excluding securitization bonds ( a )', '56.3% ( 56.3 % )', '56.9% ( 56.9 % )'], ['effect of subtracting cash', '( 1.5% ( 1.5 % ) )', '( 1.1% ( 1.1 % ) )'], ['net debt to net capital excluding securitization bonds ( a )', '54.8% ( 54.8 % )', '55.8% ( 55.8 % )']]
( a ) calculation excludes the arkansas , louisiana , and texas securitization bonds , which are non-recourse to entergy arkansas , entergy louisiana , and entergy texas , respectively .net debt consists of debt less cash and cash equivalents .debt consists of notes payable and commercial paper , capital lease obligations , and long-term debt , including the currently maturing portion .capital consists of debt , common shareholders 2019 equity , and subsidiaries 2019 preferred stock without sinking fund .net capital consists of capital less cash and cash equivalents .entergy uses the debt to capital ratios excluding securitization bonds in analyzing its financial condition and believes they provide useful information to its investors and creditors in evaluating entergy 2019s financial condition because the securitization bonds are non-recourse to entergy , as more fully described in note 5 to the financial statements .entergy also uses the net debt to net capital ratio excluding securitization bonds in analyzing its financial condition and believes it provides useful information to its investors and creditors in evaluating entergy 2019s financial condition because net debt indicates entergy 2019s outstanding debt position that could not be readily satisfied by cash and cash equivalents on hand .long-term debt , including the currently maturing portion , makes up most of entergy 2019s total debt outstanding .following are entergy 2019s long-term debt principal maturities and estimated interest payments as of december 31 , 2013 .to estimate future interest payments for variable rate debt , entergy used the rate as of december 31 , 2013 .the amounts below include payments on the entergy louisiana and system energy sale-leaseback transactions , which are included in long-term debt on the balance sheet .entergy corporation and subsidiaries management's financial discussion and analysis .
|
what is the percentage change in net debt to net capital excluding securitization bonds from 2012 to 2013?
|
-1.8%
|
{
"answer": "-1.8%",
"decimal": -0.018000000000000002,
"type": "percentage"
}
| |
m .employee retirement plans 2013 ( continued ) of equities and fixed-income investments , and would be less liquid than financial instruments that trade on public markets .potential events or circumstances that could have a negative effect on estimated fair value include the risks of inadequate diversification and other operating risks .to mitigate these risks , investments are diversified across and within asset classes in support of investment objectives .policies and practices to address operating risks include ongoing manager oversight , plan and asset class investment guidelines and instructions that are communicated to managers , and periodic compliance and audit reviews to ensure adherence to these policies .in addition , the company periodically seeks the input of its independent advisor to ensure the investment policy is appropriate .the company sponsors certain post-retirement benefit plans that provide medical , dental and life insurance coverage for eligible retirees and dependents in the united states based upon age and length of service .the aggregate present value of the unfunded accumulated post-retirement benefit obligation was $ 13 million at both december 31 , 2010 and 2009 .cash flows at december 31 , 2010 , the company expected to contribute approximately $ 30 million to $ 35 million to its qualified defined-benefit pension plans to meet erisa requirements in 2011 .the company also expected to pay benefits of $ 3 million and $ 10 million to participants of its unfunded foreign and non-qualified ( domestic ) defined-benefit pension plans , respectively , in 2011 .at december 31 , 2010 , the benefits expected to be paid in each of the next five years , and in aggregate for the five years thereafter , relating to the company 2019s defined-benefit pension plans , were as follows , in millions : qualified non-qualified .
[['', 'qualified plans', 'non-qualified plans'], ['2011', '$ 38', '$ 10'], ['2012', '$ 40', '$ 11'], ['2013', '$ 41', '$ 11'], ['2014', '$ 41', '$ 12'], ['2015', '$ 43', '$ 12'], ['2016-2020', '$ 235', '$ 59']]
n .shareholders 2019 equity in july 2007 , the company 2019s board of directors authorized the repurchase for retirement of up to 50 million shares of the company 2019s common stock in open-market transactions or otherwise .at december 31 , 2010 , the company had remaining authorization to repurchase up to 27 million shares .during 2010 , the company repurchased and retired three million shares of company common stock , for cash aggregating $ 45 million to offset the dilutive impact of the 2010 grant of three million shares of long-term stock awards .the company repurchased and retired two million common shares in 2009 and nine million common shares in 2008 for cash aggregating $ 11 million and $ 160 million in 2009 and 2008 , respectively .on the basis of amounts paid ( declared ) , cash dividends per common share were $ .30 ( $ .30 ) in 2010 , $ .46 ( $ .30 ) in 2009 and $ .925 ( $ .93 ) in 2008 , respectively .in 2009 , the company decreased its quarterly cash dividend to $ .075 per common share from $ .235 per common share .masco corporation notes to consolidated financial statements 2014 ( continued ) .
|
at december 31 , 2010 what was the percent of the shares remaining authorization to repurchase of the amount authorization by the board in 2007
|
54%
|
{
"answer": "54%",
"decimal": 0.54,
"type": "percentage"
}
|
at december 31 , 2010 54% of the shares were remaining of the amount authorized to repurchase in 2007
|
zimmer biomet holdings , inc .2018 form 10-k annual report ( 8 ) we have incurred other various expenses from specific events or projects that we consider highly variable or have a significant impact to our operating results that we have excluded from our non-gaap financial measures .this includes legal entity and operational restructuring as well as our costs of complying with our dpa with the u.s .government related to certain fcpa matters involving biomet and certain of its subsidiaries .under the dpa , which has a three-year term , we are subject to oversight by an independent compliance monitor , which monitorship commenced in july 2017 .the excluded costs include the fees paid to the independent compliance monitor and to external legal counsel assisting in the matter .( 9 ) represents the tax effects on the previously specified items .the tax effect for the u.s .jurisdiction is calculated based on an effective rate considering federal and state taxes , as well as permanent items .for jurisdictions outside the u.s. , the tax effect is calculated based upon the statutory rates where the items were incurred .( 10 ) the 2016 period includes negative effects from finalizing the tax accounts for the biomet merger .under the applicable u.s .gaap rules , these measurement period adjustments are recognized on a prospective basis in the period of change .( 11 ) the 2017 tax act resulted in a net favorable provisional adjustment due to the reduction of deferred tax liabilities for unremitted earnings and revaluation of deferred tax liabilities to a 21 percent rate , which was partially offset by provisional tax charges related to the toll charge provision of the 2017 tax act .in 2018 , we finalized our estimates of the effects of the 2017 tax act based upon final guidance issued by u.s .tax authorities .( 12 ) other certain tax adjustments in 2018 primarily related to changes in tax rates on deferred tax liabilities recorded on intangible assets recognized in acquisition-related accounting and adjustments from internal restructuring transactions that provide us access to offshore funds in a tax efficient manner .in 2017 , other certain tax adjustments relate to tax benefits from lower tax rates unrelated to the impact of the 2017 tax act , net favorable resolutions of various tax matters and net favorable adjustments from internal restructuring transactions .the 2016 adjustment primarily related to a favorable adjustment to certain deferred tax liabilities recognized as part of acquisition-related accounting and favorable resolution of certain tax matters with taxing authorities offset by internal restructuring transactions that provide us access to offshore funds in a tax efficient manner .( 13 ) diluted share count used in adjusted diluted eps : year ended december 31 , 2018 .
[['', 'year endeddecember 31 2018'], ['diluted shares', '203.5'], ['dilutive shares assuming net earnings', '1.5'], ['adjusted diluted shares', '205.0']]
liquidity and capital resources cash flows provided by operating activities were $ 1747.4 million in 2018 compared to $ 1582.3 million and $ 1632.2 million in 2017 and 2016 , respectively .the increase in operating cash flows in 2018 compared to 2017 was driven by additional cash flows from our sale of accounts receivable in certain countries , lower acquisition and integration expenses and lower quality remediation expenses , as well as certain significant payments made in the 2017 period .in the 2017 period , we made payments related to the u.s .durom cup settlement program , and we paid $ 30.5 million in settlement payments to resolve previously-disclosed fcpa matters involving biomet and certain of its subsidiaries as discussed in note 19 to our consolidated financial statements included in item 8 of this report .the decline in operating cash flows in 2017 compared to 2016 was driven by additional investments in inventory , additional expenses for quality remediation and the significant payments made in the 2017 period as discussed in the previous sentence .these unfavorable items were partially offset by $ 174.0 million of incremental cash flows in 2017 from our sale of accounts receivable in certain countries .cash flows used in investing activities were $ 416.6 million in 2018 compared to $ 510.8 million and $ 1691.5 million in 2017 and 2016 , respectively .instrument and property , plant and equipment additions reflected ongoing investments in our product portfolio and optimization of our manufacturing and logistics network .in 2018 , we entered into receive-fixed-rate , pay-fixed-rate cross-currency interest rate swaps .our investing cash flows reflect the net cash inflows from the fixed- rate interest rate receipts/payments , as well as the termination of certain of these swaps that were in a gain position in the year .the 2016 period included cash outflows for the acquisition of ldr holding corporation ( 201cldr 201d ) and other business acquisitions .additionally , the 2016 period reflects the maturity of available-for-sale debt securities .as these investments matured , we used the cash to pay off debt and have not reinvested in any additional debt securities .cash flows used in financing activities were $ 1302.2 million in 2018 .our primary use of available cash in 2018 was for debt repayment .we received net proceeds of $ 749.5 million from the issuance of additional senior notes and borrowed $ 400.0 million from our multicurrency revolving facility to repay $ 1150.0 million of senior notes that became due on april 2 , 2018 .we subsequently repaid the $ 400.0 million of multicurrency revolving facility borrowings .also in 2018 , we borrowed another $ 675.0 million under a new u.s .term loan c and used the cash proceeds along with cash generated from operations throughout the year to repay an aggregate of $ 835.0 million on u.s .term loan a , $ 450.0 million on u.s .term loan b , and we subsequently repaid $ 140.0 million on u.s .term loan c .overall , we had approximately $ 1150 million of net principal repayments on our senior notes and term loans in 2018 .in 2017 , our primary use of available cash was also for debt repayment compared to 2016 when we were not able to repay as much debt due to financing requirements to complete the ldr and other business acquisitions .additionally in 2017 , we had net cash inflows of $ 103.5 million on factoring programs that had not been remitted to the third party .in 2018 , we had net cash outflows related to these factoring programs as we remitted the $ 103.5 million and collected only $ 66.8 million which had not yet been remitted by the end of the year .since our factoring programs started at the end of 2016 , we did not have similar cash flows in that year .in january 2019 , we borrowed an additional $ 200.0 million under u.s .term loan c and used those proceeds , along with cash on hand , to repay the remaining $ 225.0 million outstanding under u.s .term loan b .in february , may , august and december 2018 , our board of directors declared cash dividends of $ 0.24 per share .we expect to continue paying cash dividends on a quarterly basis ; however , future dividends are subject to approval of the board of directors and may be adjusted as business needs or market conditions change .as further discussed in note 11 to our consolidated financial statements , our debt facilities restrict the payment of dividends in certain circumstances. .
|
what is the percent change in cash flows provided by operating activities between 2018 and 2017?
|
-9%
|
{
"answer": "-9%",
"decimal": -0.09,
"type": "percentage"
}
| |
2003 and for hedging relationships designated after june 30 , 2003 .the adoption of sfas 149 did not have a material impact on our consolidated financial position , results of operations or cash flows .in may 2003 , the fasb issued statement of financial accounting standards no .150 ( 201csfas 150 201d ) , 201caccounting for certain financial instruments with characteristics of both liabilities and equity . 201d sfas 150 requires that certain financial instruments , which under previous guidance were accounted for as equity , must now be accounted for as liabilities .the financial instruments affected include mandatory redeemable stock , certain financial instruments that require or may require the issuer to buy back some of its shares in exchange for cash or other assets and certain obligations that can be settled with shares of stock .sfas 150 is effective for all financial instruments entered into or modified after may 31 , 2003 , and otherwise is effective at the beginning of the first interim period beginning after june 15 , 2003 .the adoption of sfas 150 did not have a material impact on our consolidated financial position , results of operations or cash flows .note 2 .acquisitions on may 19 , 2003 , we purchased the technology assets of syntrillium , a privately held company , for $ 16.5 million cash .syntrillium developed , published and marketed digital audio tools including its recording application , cool edit pro ( renamed adobe audition ) , all of which have been added to our existing line of professional digital imaging and video products .by adding adobe audition and the other tools to our existing line of products , we have improved the adobe video workflow and expanded the products and tools available to videographers , dvd authors and independent filmmakers .in connection with the purchase , we allocated $ 13.7 million to goodwill , $ 2.7 million to purchased technology and $ 0.1 million to tangible assets .we also accrued $ 0.1 million in acquisition-related legal and accounting fees .goodwill has been allocated to our digital imaging and video segment .purchased technology is being amortized to cost of product revenue over its estimated useful life of three years .the consolidated financial statements include the operating results of the purchased technology assets from the date of purchase .pro forma results of operations have not been presented because the effect of this acquisition was not material .in april 2002 , we acquired all of the outstanding common stock of accelio .accelio was a provider of web-enabled solutions that helped customers manage business processes driven by electronic forms .the acquisition of accelio broadened our epaper solution business .at the date of acquisition , the aggregate purchase price was $ 70.2 million , which included the issuance of 1.8 million shares of common stock of adobe , valued at $ 68.4 million , and cash of $ 1.8 million .the following table summarizes the purchase price allocation: .
[['cash and cash equivalents', '$ 9117'], ['accounts receivable net', '11906'], ['other current assets', '4735'], ['purchased technology', '2710'], ['goodwill', '77009'], ['in-process research and development', '410'], ['trademarks and other intangible assets', '1029'], ['total assets acquired', '106916'], ['current liabilities', '-18176 ( 18176 )'], ['liabilities recognized in connection with the business combination', '-16196 ( 16196 )'], ['deferred revenue', '-2360 ( 2360 )'], ['total liabilities assumed', '-36732 ( 36732 )'], ['net assets acquired', '$ 70184']]
we allocated $ 2.7 million to purchased technology and $ 0.4 million to in-process research and development .the amount allocated to purchased technology represented the fair market value of the technology for each of the existing products , as of the date of the acquisition .the purchased technology was assigned a useful life of three years and is being amortized to cost of product revenue .the amount allocated to in-process research and development was expensed at the time of acquisition due to the state of the development of certain products and the uncertainty of the technology .the remaining purchase price was allocated to goodwill and was assigned to our epaper segment ( which was renamed intelligent documents beginning in fiscal 2004 ) .in accordance with sfas no .142 .
|
what portion of total liability assumed from accelio was reported as current liabilities?
|
49.5%
|
{
"answer": "49.5%",
"decimal": 0.495,
"type": "percentage"
}
| |
liquidity monitoring and measurement stress testing liquidity stress testing is performed for each of citi 2019s major entities , operating subsidiaries and/or countries .stress testing and scenario analyses are intended to quantify the potential impact of an adverse liquidity event on the balance sheet and liquidity position , and to identify viable funding alternatives that can be utilized .these scenarios include assumptions about significant changes in key funding sources , market triggers ( such as credit ratings ) , potential uses of funding and geopolitical and macroeconomic conditions .these conditions include expected and stressed market conditions as well as company-specific events .liquidity stress tests are conducted to ascertain potential mismatches between liquidity sources and uses over a variety of time horizons and over different stressed conditions .liquidity limits are set accordingly .to monitor the liquidity of an entity , these stress tests and potential mismatches are calculated with varying frequencies , with several tests performed daily .given the range of potential stresses , citi maintains contingency funding plans on a consolidated basis and for individual entities .these plans specify a wide range of readily available actions for a variety of adverse market conditions or idiosyncratic stresses .short-term liquidity measurement : liquidity coverage ratio ( lcr ) in addition to internal liquidity stress metrics that citi has developed for a 30-day stress scenario , citi also monitors its liquidity by reference to the lcr , as calculated pursuant to the u.s .lcr rules .generally , the lcr is designed to ensure that banks maintain an adequate level of hqla to meet liquidity needs under an acute 30-day stress scenario .the lcr is calculated by dividing hqla by estimated net outflows over a stressed 30-day period , with the net outflows determined by applying prescribed outflow factors to various categories of liabilities , such as deposits , unsecured and secured wholesale borrowings , unused lending commitments and derivatives- related exposures , partially offset by inflows from assets maturing within 30 days .banks are required to calculate an add-on to address potential maturity mismatches between contractual cash outflows and inflows within the 30-day period in determining the total amount of net outflows .the minimum lcr requirement is 100% ( 100 % ) , effective january 2017 .pursuant to the federal reserve board 2019s final rule regarding lcr disclosures , effective april 1 , 2017 , citi began to disclose lcr in the prescribed format .the table below sets forth the components of citi 2019s lcr calculation and hqla in excess of net outflows for the periods indicated : in billions of dollars dec .31 , sept .30 , dec .31 .
[['in billions of dollars', 'dec . 31 2017', 'sept . 30 2017', 'dec . 31 2016'], ['hqla', '$ 446.4', '$ 448.6', '$ 403.7'], ['net outflows', '364.3', '365.1', '332.5'], ['lcr', '123% ( 123 % )', '123% ( 123 % )', '121% ( 121 % )'], ['hqla in excess of net outflows', '$ 82.1', '$ 83.5', '$ 71.3']]
note : amounts set forth in the table above are presented on an average basis .as set forth in the table above , citi 2019s lcr increased year- over-year , as the increase in the hqla ( as discussed above ) more than offset an increase in modeled net outflows .the increase in modeled net outflows was primarily driven by changes in assumptions , including changes in methodology to better align citi 2019s outflow assumptions with those embedded in its resolution planning .sequentially , citi 2019s lcr remained unchanged .long-term liquidity measurement : net stable funding ratio ( nsfr ) in 2016 , the federal reserve board , the fdic and the occ issued a proposed rule to implement the basel iii nsfr requirement .the u.s.-proposed nsfr is largely consistent with the basel committee 2019s final nsfr rules .in general , the nsfr assesses the availability of a bank 2019s stable funding against a required level .a bank 2019s available stable funding would include portions of equity , deposits and long-term debt , while its required stable funding would be based on the liquidity characteristics of its assets , derivatives and commitments .prescribed factors would be required to be applied to the various categories of asset and liabilities classes .the ratio of available stable funding to required stable funding would be required to be greater than 100% ( 100 % ) .while citi believes that it is compliant with the proposed u.s .nsfr rules as of december 31 , 2017 , it will need to evaluate a final version of the rules , which are expected to be released during 2018 .citi expects that the nsfr final rules implementation period will be communicated along with the final version of the rules. .
|
what was the percentage increase in the net outflows from 2016 to 2017
|
9.6%
|
{
"answer": "9.6%",
"decimal": 0.096,
"type": "percentage"
}
| |
the analysis of our depreciation studies .changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively .under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized .the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies .the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes .because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate .in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies .any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets .for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies .a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations .when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .however , many of our assets are self-constructed .a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects .costs that are directly attributable to capital projects ( including overhead costs ) are capitalized .direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment .indirect costs are capitalized if they clearly relate to the construction of the asset .general and administrative expenditures are expensed as incurred .normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .these costs are allocated using appropriate statistical bases .total expense for repairs and maintenance incurred was $ 2.3 billion for 2013 , $ 2.1 billion for 2012 , and $ 2.2 billion for 2011 .assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .12 .accounts payable and other current liabilities dec .31 , dec .31 , millions 2013 2012 .
[['millions', 'dec . 31 2013', 'dec . 312012'], ['accounts payable', '$ 803', '$ 825'], ['income and other taxes payable', '491', '368'], ['accrued wages and vacation', '385', '376'], ['dividends payable', '356', '318'], ['accrued casualty costs', '207', '213'], ['interest payable', '169', '172'], ['equipment rents payable', '96', '95'], ['other', '579', '556'], ['total accounts payable and othercurrent liabilities', '$ 3086', '$ 2923']]
.
|
what was the average repairs and maintenance incurred from 2011 to 2013 in billions
|
2.2
|
{
"answer": "2.2",
"decimal": 2.2,
"type": "float"
}
| |
jpmorgan chase & co./2015 annual report 73 in advisory fees was driven by the combined impact of a greater share of fees for completed transactions , and growth in industry-wide fees .the increase in equity underwriting fees was driven by higher industry-wide issuance .the decrease in debt underwriting fees was primarily related to lower bond underwriting fees compared with the prior year , and lower loan syndication fees on lower industry-wide fees .principal transactions revenue increased as the prior year included a $ 1.5 billion loss related to the implementation of the funding valuation adjustment ( 201cfva 201d ) framework for over-the-counter ( 201cotc 201d ) derivatives and structured notes .private equity gains increased as a result of higher net gains on sales .these increases were partially offset by lower fixed income markets revenue in cib , primarily driven by credit-related and rates products , as well as the impact of business simplification initiatives .lending- and deposit-related fees decreased compared with the prior year , reflecting the impact of business simplification initiatives and lower trade finance revenue in cib .asset management , administration and commissions revenue increased compared with the prior year , reflecting higher asset management fees driven by net client inflows and higher market levels in am and ccb .the increase was offset partially by lower commissions and other fee revenue in ccb as a result of the exit of a non-core product in 2013 .securities gains decreased compared with the prior year , reflecting lower repositioning activity related to the firm 2019s investment securities portfolio .mortgage fees and related income decreased compared with the prior year , predominantly due to lower net production revenue driven by lower volumes due to higher mortgage interest rates , and tighter margins .the decline in net production revenue was partially offset by a lower loss on the risk management of mortgage servicing rights ( 201cmsrs 201d ) .card income was relatively flat compared with the prior year , but included higher net interchange income due to growth in credit and debit card sales volume , offset by higher amortization of new account origination costs .other income decreased from the prior year , predominantly from the absence of two significant items recorded in corporate in 2013 : gains of $ 1.3 billion and $ 493 million from sales of visa shares and one chase manhattan plaza , respectively .lower valuations of seed capital investments in am and losses related to the exit of non-core portfolios in card also contributed to the decrease .these items were partially offset by higher auto lease income as a result of growth in auto lease volume , and a benefit from a tax settlement .net interest income increased slightly from the prior year , predominantly reflecting higher yields on investment securities , the impact of lower interest expense from lower rates , and higher average loan balances .the increase was partially offset by lower yields on loans due to the run-off of higher-yielding loans and new originations of lower-yielding loans , and lower average interest-earning trading asset balances .the firm 2019s average interest-earning assets were $ 2.0 trillion , and the net interest yield on these assets , on a fte basis , was 2.18% ( 2.18 % ) , a decrease of 5 basis points from the prior year .provision for credit losses year ended december 31 .
[['( in millions )', '2015', '2014', '2013'], ['consumer excluding credit card', '$ -81 ( 81 )', '$ 419', '$ -1871 ( 1871 )'], ['credit card', '3122', '3079', '2179'], ['total consumer', '3041', '3498', '308'], ['wholesale', '786', '-359 ( 359 )', '-83 ( 83 )'], ['total provision for credit losses', '$ 3827', '$ 3139', '$ 225']]
2015 compared with 2014 the provision for credit losses increased from the prior year as a result of an increase in the wholesale provision , largely reflecting the impact of downgrades in the oil & gas portfolio .the increase was partially offset by a decrease in the consumer provision , reflecting lower net charge-offs due to continued discipline in credit underwriting , as well as improvement in the economy driven by increasing home prices and lower unemployment levels .the increase was partially offset by a lower reduction in the allowance for loan losses .for a more detailed discussion of the credit portfolio and the allowance for credit losses , see the segment discussions of ccb on pages 85 201393 , cb on pages 99 2013101 , and the allowance for credit losses on pages 130 2013132 .2014 compared with 2013 the provision for credit losses increased by $ 2.9 billion from the prior year as result of a lower benefit from reductions in the consumer allowance for loan losses , partially offset by lower net charge-offs .the consumer allowance reduction in 2014 was primarily related to the consumer , excluding credit card , portfolio and reflected the continued improvement in home prices and delinquencies in the residential real estate portfolio .the wholesale provision reflected a continued favorable credit environment. .
|
in 2015 what was the percent of the credit card as part of the total provision for credit losses
|
81.6%
|
{
"answer": "81.6%",
"decimal": 0.816,
"type": "percentage"
}
| |
maturity requirements on long-term debt as of december 31 , 2018 by year are as follows ( in thousands ) : years ending december 31 .
[['2019', '$ 124176'], ['2020', '159979'], ['2021', '195848'], ['2022', '267587'], ['2023', '3945053'], ['2024 and thereafter', '475000'], ['total', '$ 5167643']]
credit facility we are party to a credit facility agreement with bank of america , n.a. , as administrative agent , and a syndicate of financial institutions as lenders and other agents ( as amended from time to time , the 201ccredit facility 201d ) .as of december 31 , 2018 , the credit facility provided for secured financing comprised of ( i ) a $ 1.5 billion revolving credit facility ( the 201crevolving credit facility 201d ) ; ( ii ) a $ 1.5 billion term loan ( the 201cterm a loan 201d ) , ( iii ) a $ 1.37 billion term loan ( the 201cterm a-2 loan 201d ) , ( iv ) a $ 1.14 billion term loan facility ( the 201cterm b-2 loan 201d ) and ( v ) a $ 500 million term loan ( the 201cterm b-4 loan 201d ) .substantially all of the assets of our domestic subsidiaries are pledged as collateral under the credit facility .the borrowings outstanding under our credit facility as of december 31 , 2018 reflect amounts borrowed for acquisitions and other activities we completed in 2018 , including a reduction to the interest rate margins applicable to our term a loan , term a-2 loan , term b-2 loan and the revolving credit facility , an extension of the maturity dates of the term a loan , term a-2 loan and the revolving credit facility , and an increase in the total financing capacity under the credit facility to approximately $ 5.5 billion in june 2018 .in october 2018 , we entered into an additional term loan under the credit facility in the amount of $ 500 million ( the 201cterm b-4 loan 201d ) .we used the proceeds from the term b-4 loan to pay down a portion of the balance outstanding under our revolving credit facility .the credit facility provides for an interest rate , at our election , of either libor or a base rate , in each case plus a margin .as of december 31 , 2018 , the interest rates on the term a loan , the term a-2 loan , the term b-2 loan and the term b-4 loan were 4.02% ( 4.02 % ) , 4.01% ( 4.01 % ) , 4.27% ( 4.27 % ) and 4.27% ( 4.27 % ) , respectively , and the interest rate on the revolving credit facility was 3.92% ( 3.92 % ) .in addition , we are required to pay a quarterly commitment fee with respect to the unused portion of the revolving credit facility at an applicable rate per annum ranging from 0.20% ( 0.20 % ) to 0.30% ( 0.30 % ) depending on our leverage ratio .the term a loan and the term a-2 loan mature , and the revolving credit facility expires , on january 20 , 2023 .the term b-2 loan matures on april 22 , 2023 .the term b-4 loan matures on october 18 , 2025 .the term a loan and term a-2 loan principal amounts must each be repaid in quarterly installments in the amount of 0.625% ( 0.625 % ) of principal through june 2019 , increasing to 1.25% ( 1.25 % ) of principal through june 2021 , increasing to 1.875% ( 1.875 % ) of principal through june 2022 and increasing to 2.50% ( 2.50 % ) of principal through december 2022 , with the remaining principal balance due upon maturity in january 2023 .the term b-2 loan principal must be repaid in quarterly installments in the amount of 0.25% ( 0.25 % ) of principal through march 2023 , with the remaining principal balance due upon maturity in april 2023 .the term b-4 loan principal must be repaid in quarterly installments in the amount of 0.25% ( 0.25 % ) of principal through september 2025 , with the remaining principal balance due upon maturity in october 2025 .we may issue standby letters of credit of up to $ 100 million in the aggregate under the revolving credit facility .outstanding letters of credit under the revolving credit facility reduce the amount of borrowings available to us .borrowings available to us under the revolving credit facility are further limited by the covenants described below under 201ccompliance with covenants . 201d the total available commitments under the revolving credit facility at december 31 , 2018 were $ 783.6 million .global payments inc .| 2018 form 10-k annual report 2013 85 .
|
what portion of the total outstanding long-term debt is included in the current liabilities section as of december 31 , 2018?
|
2.4%
|
{
"answer": "2.4%",
"decimal": 0.024,
"type": "percentage"
}
| |
the new york stock exchange ( the 201cseparation 201d ) .the separation was effectuated through a pro-rata dividend distribution on july 2 , 2016 of all of the then-outstanding shares of common stock of fortive corporation to the holders of common stock of danaher as of june 15 , 2016 .in this annual report , the terms 201cfortive 201d or the 201ccompany 201d refer to either fortive corporation or to fortive corporation and its consolidated subsidiaries , as the context requires .reportable segments the table below describes the percentage of sales attributable to each of our two segments over each of the last three years ended december 31 , 2017 .for additional information regarding sales , operating profit and identifiable assets by segment , please refer to note 17 to the consolidated and combined financial statements included in this annual report. .
[['', '2017', '2016', '2015'], ['professional instrumentation', '47% ( 47 % )', '46% ( 46 % )', '48% ( 48 % )'], ['industrial technologies', '53% ( 53 % )', '54% ( 54 % )', '52% ( 52 % )']]
professional instrumentation our professional instrumentation segment offers essential products , software and services used to create actionable intelligence by measuring and monitoring a wide range of physical parameters in industrial applications , including electrical current , radio frequency signals , distance , pressure , temperature , radiation , and hazardous gases .customers for these products and services include industrial service , installation and maintenance professionals , designers and manufacturers of electronic devices and instruments , medical technicians , safety professionals and other customers for whom precision , reliability and safety are critical in their specific applications .2017 sales for this segment by geographic destination were : north america , 50% ( 50 % ) ; europe , 18% ( 18 % ) ; asia pacific , 26% ( 26 % ) , and all other regions , 6% ( 6 % ) .our professional instrumentation segment consists of our advanced instrumentation & solutions and sensing technologies businesses .our advanced instrumentation & solutions business was primarily established through the acquisitions of qualitrol in the 1980s , fluke corporation in 1998 , pacific scientific company in 1998 , tektronix in 2007 , invetech in 2007 , keithley instruments in 2010 , emaint in 2016 , industrial scientific in 2017 , landauer in 2017 and numerous bolt-on acquisitions .advanced instrumentation & solutions our advanced instrumentation & solutions business consists of : field solutions our field solutions products include a variety of compact professional test tools , thermal imaging and calibration equipment for electrical , industrial , electronic and calibration applications , online condition-based monitoring equipment ; portable gas detection equipment , consumables , and software as a service ( saas ) offerings including safety/user behavior , asset management , and compliance monitoring ; subscription-based technical , analytical , and compliance services to determine occupational and environmental radiation exposure ; and computerized maintenance management software for critical infrastructure in utility , industrial , energy , construction , public safety , mining , and healthcare applications .these products and associated software solutions measure voltage , current , resistance , power quality , frequency , pressure , temperature , radiation , hazardous gas and air quality , among other parameters .typical users of these products and software include electrical engineers , electricians , electronic technicians , safety professionals , medical technicians , network technicians , first-responders , and industrial service , installation and maintenance professionals .the business also makes and sells instruments , controls and monitoring and maintenance systems used by maintenance departments in utilities and industrial facilities to monitor assets , including transformers , generators , motors and switchgear .products are marketed under a variety of brands , including fluke , fluke biomedical , fluke networks , industrial scientific , landauer and qualitrol .product realization our product realization services and products help developers and engineers across the end-to-end product creation cycle from concepts to finished products .our test , measurement and monitoring products are used in the design , manufacturing and development of electronics , industrial , video and other advanced technologies .typical users of these products and services include research and development engineers who design , de-bug , monitor and validate the function and performance of electronic components , subassemblies and end-products , and video equipment manufacturers , content developers and broadcasters .the business also provides a full range of design , engineering and manufacturing services and highly-engineered , modular components to enable conceptualization , development and launch of products in the medical diagnostics , cell therapy and consumer markets .finally , the business designs , develops , manufactures and markets critical , highly-engineered energetic materials components in specialized vertical applications .products and services are marketed .
|
what was the change in percentage of sales attributable to professional instrumentation from 2016 to 2017?
|
1%
|
{
"answer": "1%",
"decimal": 0.01,
"type": "percentage"
}
| |
factory stores we extend our reach to additional consumer groups through our 259 factory stores worldwide , which are principally located in major outlet centers .during fiscal 2015 , we added 30 new factory stores and closed six factory stores .we operated the following factory stores as of march 28 , 2015: .
[['location', 'factory stores'], ['the americas ( a )', '165'], ['europe', '54'], ['asia ( b )', '40'], ['total', '259']]
( a ) includes the u.s .and canada .( b ) includes australia .our worldwide factory stores offer selections of our apparel , accessories , and fragrances .in addition to these product offerings , certain of our factory stores in the americas offer home furnishings .our factory stores range in size from approximately 800 to 26700 square feet .factory stores obtain products from our suppliers , our product licensing partners , and our other retail stores and e-commerce operations , and also serve as a secondary distribution channel for our excess and out-of-season products .concession-based shop-within-shops the terms of trade for shop-within-shops are largely conducted on a concession basis , whereby inventory continues to be owned by us ( not the department store ) until ultimate sale to the end consumer .the salespeople involved in the sales transactions are generally our employees and not those of the department store .as of march 28 , 2015 , we had 536 concession-based shop-within-shops at 236 retail locations dedicated to our products , which were located in asia , australia , new zealand , and europe .the size of our concession-based shop-within-shops ranges from approximately 200 to 6000 square feet .we may share in the cost of building out certain of these shop-within-shops with our department store partners .e-commerce websites in addition to our stores , our retail segment sells products online through our e-commerce channel , which includes : 2022 our north american e-commerce sites located at www.ralphlauren.com and www.clubmonaco.com , as well as our club monaco site in canada located at www.clubmonaco.ca ; 2022 our ralph lauren e-commerce sites in europe , including www.ralphlauren.co.uk ( servicing the united kingdom ) , www.ralphlauren.fr ( servicing belgium , france , italy , luxembourg , the netherlands , portugal , and spain ) , and www.ralphlauren.de ( recently expanded to service denmark , estonia , finland , latvia , slovakia , and sweden , in addition to servicing austria and germany ) ; and 2022 our ralph lauren e-commerce sites in asia , including www.ralphlauren.co.jp ( servicing japan ) , www.ralphlauren.co.kr ( servicing south korea ) , www.ralphlauren.asia ( servicing hong kong , macau , malaysia , and singapore ) , and www.ralphlauren.com.au ( servicing australia and new zealand ) .our ralph lauren e-commerce sites in the u.s. , europe , and asia offer our customers access to a broad array of ralph lauren , double rl , polo , and denim & supply apparel , accessories , fragrance , and home products , and reinforce the luxury image of our brands .while investing in e-commerce operations remains a primary focus , it is an extension of our investment in the integrated omni-channel strategy used to operate our overall retail business , in which our e-commerce operations are interdependent with our physical stores .our club monaco e-commerce sites in the u.s .and canada offer our domestic and canadian customers access to our global assortment of club monaco apparel and accessories product lines , as well as select online exclusives. .
|
what percentage of factory stores as of march 28 , 2015 where located in europe?
|
21%
|
{
"answer": "21%",
"decimal": 0.21,
"type": "percentage"
}
| |
adobe systems incorporated notes to consolidated financial statements ( continued ) in the first quarter of fiscal 2013 , the executive compensation committee certified the actual performance achievement of participants in the 2012 performance share program ( the 201c2012 program 201d ) .based upon the achievement of specific and/or market- based performance goals outlined in the 2012 program , participants had the ability to receive up to 150% ( 150 % ) of the target number of shares originally granted .actual performance resulted in participants achieving 116% ( 116 % ) of target or approximately 1.3 million shares for the 2012 program .one third of the shares under the 2012 program vested in the first quarter of fiscal 2013 and the remaining two thirds vest evenly on the following two anniversaries of the grant , contingent upon the recipient's continued service to adobe .in the first quarter of fiscal 2012 , the executive compensation committee certified the actual performance achievement of participants in the 2011 performance share program ( the 201c2011 program 201d ) .based upon the achievement of goals outlined in the 2011 program , participants had the ability to receive up to 150% ( 150 % ) of the target number of shares originally granted .actual performance resulted in participants achieving 130% ( 130 % ) of target or approximately 0.5 million shares for the 2011 program .one third of the shares under the 2011 program vested in the first quarter of fiscal 2012 and the remaining two thirds vest evenly on the following two annual anniversary dates of the grant , contingent upon the recipient's continued service to adobe .in the first quarter of fiscal 2011 , the executive compensation committee certified the actual performance achievement of participants in the 2010 performance share program ( the 201c2010 program 201d ) .based upon the achievement of goals outlined in the 2010 program , participants had the ability to receive up to 150% ( 150 % ) of the target number of shares originally granted .actual performance resulted in participants achieving 135% ( 135 % ) of target or approximately 0.3 million shares for the 2010 program .one third of the shares under the 2011 program vested in the first quarter of fiscal 2012 and the remaining two thirds vest evenly on the following two annual anniversary dates of the grant , contingent upon the recipient's continued service to adobe .the following table sets forth the summary of performance share activity under our 2010 , 2011 and 2012 programs , based upon share awards actually achieved , for the fiscal years ended november 29 , 2013 , november 30 , 2012 and december 2 , 2011 ( in thousands ) : .
[['', '2013', '2012', '2011'], ['beginning outstanding balance', '388', '405', '557'], ['achieved', '1279', '492', '337'], ['released', '-665 ( 665 )', '-464 ( 464 )', '-436 ( 436 )'], ['forfeited', '-141 ( 141 )', '-45 ( 45 )', '-53 ( 53 )'], ['ending outstanding balance', '861', '388', '405']]
the total fair value of performance awards vested during fiscal 2013 , 2012 and 2011 was $ 25.4 million , $ 14.4 million and $ 14.8 million , respectively. .
|
for the performance share program , for the years 2013 , 2012 , and 2011 , what was the maximum shares in the beginning outstanding balance in thousands?
|
557
|
{
"answer": "557",
"decimal": 557,
"type": "float"
}
| |
jpmorgan chase & co./2014 annual report 291 therefore , are not recorded on the consolidated balance sheets until settlement date .the unsettled reverse repurchase agreements and securities borrowing agreements predominantly consist of agreements with regular-way settlement periods .loan sales- and securitization-related indemnifications mortgage repurchase liability in connection with the firm 2019s mortgage loan sale and securitization activities with the gses , as described in note 16 , the firm has made representations and warranties that the loans sold meet certain requirements .the firm has been , and may be , required to repurchase loans and/or indemnify the gses ( e.g. , with 201cmake-whole 201d payments to reimburse the gses for their realized losses on liquidated loans ) .to the extent that repurchase demands that are received relate to loans that the firm purchased from third parties that remain viable , the firm typically will have the right to seek a recovery of related repurchase losses from the third party .generally , the maximum amount of future payments the firm would be required to make for breaches of these representations and warranties would be equal to the unpaid principal balance of such loans that are deemed to have defects that were sold to purchasers ( including securitization-related spes ) plus , in certain circumstances , accrued interest on such loans and certain expense .the following table summarizes the change in the mortgage repurchase liability for each of the periods presented .summary of changes in mortgage repurchase liability ( a ) year ended december 31 , ( in millions ) 2014 2013 2012 repurchase liability at beginning of period $ 681 $ 2811 $ 3557 net realized gains/ ( losses ) ( b ) 53 ( 1561 ) ( 1158 ) .
[['year ended december 31 ( in millions )', '2014', '2013', '2012'], ['repurchase liability at beginning of period', '$ 681', '$ 2811', '$ 3557'], ['net realized gains/ ( losses ) ( b )', '53', '-1561 ( 1561 )', '-1158 ( 1158 )'], ['reclassification to litigation reserve', '2014', '-179 ( 179 )', '2014'], ['( benefit ) /provision for repurchase ( c )', '-459 ( 459 )', '-390 ( 390 )', '412'], ['repurchase liability at end of period', '$ 275', '$ 681', '$ 2811']]
( benefit ) /provision for repurchase ( c ) ( 459 ) ( 390 ) 412 repurchase liability at end of period $ 275 $ 681 $ 2811 ( a ) on october 25 , 2013 , the firm announced that it had reached a $ 1.1 billion agreement with the fhfa to resolve , other than certain limited types of exposures , outstanding and future mortgage repurchase demands associated with loans sold to the gses from 2000 to 2008 .( b ) presented net of third-party recoveries and included principal losses and accrued interest on repurchased loans , 201cmake-whole 201d settlements , settlements with claimants , and certain related expense .make-whole settlements were $ 11 million , $ 414 million and $ 524 million , for the years ended december 31 , 2014 , 2013 and 2012 , respectively .( c ) included a provision related to new loan sales of $ 4 million , $ 20 million and $ 112 million , for the years ended december 31 , 2014 , 2013 and 2012 , respectively .private label securitizations the liability related to repurchase demands associated with private label securitizations is separately evaluated by the firm in establishing its litigation reserves .on november 15 , 2013 , the firm announced that it had reached a $ 4.5 billion agreement with 21 major institutional investors to make a binding offer to the trustees of 330 residential mortgage-backed securities trusts issued by j.p.morgan , chase , and bear stearns ( 201crmbs trust settlement 201d ) to resolve all representation and warranty claims , as well as all servicing claims , on all trusts issued by j.p .morgan , chase , and bear stearns between 2005 and 2008 .the seven trustees ( or separate and successor trustees ) for this group of 330 trusts have accepted the rmbs trust settlement for 319 trusts in whole or in part and excluded from the settlement 16 trusts in whole or in part .the trustees 2019 acceptance is subject to a judicial approval proceeding initiated by the trustees , which is pending in new york state court .in addition , from 2005 to 2008 , washington mutual made certain loan level representations and warranties in connection with approximately $ 165 billion of residential mortgage loans that were originally sold or deposited into private-label securitizations by washington mutual .of the $ 165 billion , approximately $ 78 billion has been repaid .in addition , approximately $ 49 billion of the principal amount of such loans has liquidated with an average loss severity of 59% ( 59 % ) .accordingly , the remaining outstanding principal balance of these loans as of december 31 , 2014 , was approximately $ 38 billion , of which $ 8 billion was 60 days or more past due .the firm believes that any repurchase obligations related to these loans remain with the fdic receivership .for additional information regarding litigation , see note 31 .loans sold with recourse the firm provides servicing for mortgages and certain commercial lending products on both a recourse and nonrecourse basis .in nonrecourse servicing , the principal credit risk to the firm is the cost of temporary servicing advances of funds ( i.e. , normal servicing advances ) .in recourse servicing , the servicer agrees to share credit risk with the owner of the mortgage loans , such as fannie mae or freddie mac or a private investor , insurer or guarantor .losses on recourse servicing predominantly occur when foreclosure sales proceeds of the property underlying a defaulted loan are less than the sum of the outstanding principal balance , plus accrued interest on the loan and the cost of holding and disposing of the underlying property .the firm 2019s securitizations are predominantly nonrecourse , thereby effectively transferring the risk of future credit losses to the purchaser of the mortgage-backed securities issued by the trust .at december 31 , 2014 and 2013 , the unpaid principal balance of loans sold with recourse totaled $ 6.1 billion and $ 7.7 billion , respectively .the carrying value of the related liability that the firm has recorded , which is representative of the firm 2019s view of the likelihood it .
|
what was the ratio of the total unpaid principal balance of loans sold with recourse for 2014 to 2013
|
0.79
|
{
"answer": "0.79",
"decimal": 0.79,
"type": "float"
}
| |
citigroup 2019s repurchases are primarily from government sponsored entities .the specific representations and warranties made by the company depend on the nature of the transaction and the requirements of the buyer .market conditions and credit-ratings agency requirements may also affect representations and warranties and the other provisions the company may agree to in loan sales .in the event of a breach of the representations and warranties , the company may be required to either repurchase the mortgage loans ( generally at unpaid principal balance plus accrued interest ) with the identified defects or indemnify ( 201cmake-whole 201d ) the investor or insurer .the company has recorded a repurchase reserve that is included in other liabilities in the consolidated balance sheet .in the case of a repurchase , the company will bear any subsequent credit loss on the mortgage loans .the company 2019s representations and warranties are generally not subject to stated limits in amount or time of coverage .however , contractual liability arises only when the representations and warranties are breached and generally only when a loss results from the breach .in the case of a repurchase , the loan is typically considered a credit- impaired loan and accounted for under sop 03-3 , 201caccounting for certain loans and debt securities , acquired in a transfer 201d ( now incorporated into asc 310-30 , receivables 2014loans and debt securities acquired with deteriorated credit quality ) .these repurchases have not had a material impact on nonperforming loan statistics , because credit-impaired purchased sop 03-3 loans are not included in nonaccrual loans .the company estimates its exposure to losses from its obligation to repurchase previously sold loans based on the probability of repurchase or make-whole and an estimated loss given repurchase or make-whole .this estimate is calculated separately by sales vintage ( i.e. , the year the loans were sold ) based on a combination of historical trends and forecasted repurchases and losses considering the : ( 1 ) trends in requests by investors for loan documentation packages to be reviewed ; ( 2 ) trends in recent repurchases and make-wholes ; ( 3 ) historical percentage of claims made as a percentage of loan documentation package requests ; ( 4 ) success rate in appealing claims ; ( 5 ) inventory of unresolved claims ; and ( 6 ) estimated loss given repurchase or make-whole , including the loss of principal , accrued interest , and foreclosure costs .the company does not change its estimation methodology by counterparty , but the historical experience and trends are considered when evaluating the overall reserve .the request for loan documentation packages is an early indicator of a potential claim .during 2009 , loan documentation package requests and the level of outstanding claims increased .in addition , our loss severity estimates increased during 2009 due to the impact of macroeconomic factors and recent experience .these factors contributed to a $ 493 million change in estimate for this reserve in 2009 .as indicated above , the repurchase reserve is calculated by sales vintage .the majority of the repurchases in 2009 were from the 2006 and 2007 sales vintages , which also represent the vintages with the largest loss- given-repurchase .an insignificant percentage of 2009 repurchases were from vintages prior to 2006 , and this is expected to decrease , because those vintages are later in the credit cycle .although early in the credit cycle , the company has experienced improved repurchase and loss-given-repurchase statistics from the 2008 and 2009 vintages .in the case of a repurchase of a credit-impaired sop 03-3 loan ( now incorporated into asc 310-30 ) , the difference between the loan 2019s fair value and unpaid principal balance at the time of the repurchase is recorded as a utilization of the repurchase reserve .payments to make the investor whole are also treated as utilizations and charged directly against the reserve .the provision for estimated probable losses arising from loan sales is recorded as an adjustment to the gain on sale , which is included in other revenue in the consolidated statement of income .a liability for representations and warranties is estimated when the company sells loans and is updated quarterly .any subsequent adjustment to the provision is recorded in other revenue in the consolidated statement of income .the activity in the repurchase reserve for the years ended december 31 , 2009 and 2008 is as follows: .
[['in millions of dollars', '2009', '2008'], ['balance beginning of the year', '$ 75', '$ 2'], ['additions for new sales', '33', '23'], ['change in estimate', '493', '59'], ['utilizations', '-119 ( 119 )', '-9 ( 9 )'], ['balance end of the year', '$ 482', '$ 75']]
goodwill goodwill represents an acquired company 2019s acquisition cost over the fair value of net tangible and intangible assets acquired .goodwill is subject to annual impairment tests , whereby goodwill is allocated to the company 2019s reporting units and an impairment is deemed to exist if the carrying value of a reporting unit exceeds its estimated fair value .furthermore , on any business dispositions , goodwill is allocated to the business disposed of based on the ratio of the fair value of the business disposed of to the fair value of the reporting unit .intangible assets intangible assets 2014including core deposit intangibles , present value of future profits , purchased credit card relationships , other customer relationships , and other intangible assets , but excluding msrs 2014are amortized over their estimated useful lives .intangible assets deemed to have indefinite useful lives , primarily certain asset management contracts and trade names , are not amortized and are subject to annual impairment tests .an impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value .for other intangible assets subject to amortization , an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the intangible asset .other assets and other liabilities other assets include , among other items , loans held-for-sale , deferred tax assets , equity-method investments , interest and fees receivable , premises and equipment , end-user derivatives in a net receivable position , repossessed assets , and other receivables. .
|
what was the percentage change in the repurchase reserve between 2008 and 2009 , in millions?
|
543%
|
{
"answer": "543%",
"decimal": 5.43,
"type": "percentage"
}
| |
notes to consolidated financial statements 2014 ( continued ) note 14 2014commitments and contingencies leases we conduct a major part of our operations using leased facilities and equipment .many of these leases have renewal and purchase options and provide that we pay the cost of property taxes , insurance and maintenance .rent expense on all operating leases for fiscal 2010 , 2009 and 2008 was $ 32.8 million , $ 30.2 million , and $ 30.4 million , respectively .future minimum lease payments for all noncancelable leases at may 31 , 2010 were as follows : operating leases .
[['', 'operating leases'], ['2011', '$ 9856'], ['2012', '3803'], ['2013', '2538'], ['2014', '1580'], ['2015', '928'], ['thereafter', '1428'], ['total future minimum lease payments', '$ 20133']]
we are party to a number of claims and lawsuits incidental to our business .in the opinion of management , the reasonably possible outcome of such matters , individually or in the aggregate , will not have a material adverse impact on our financial position , liquidity or results of operations .we define operating taxes as tax contingencies that are unrelated to income taxes , such as sales and property taxes .during the course of operations , we must interpret the meaning of various operating tax matters in the united states and in the foreign jurisdictions in which we do business .taxing authorities in those various jurisdictions may arrive at different interpretations of applicable tax laws and regulations as they relate to such operating tax matters , which could result in the payment of additional taxes in those jurisdictions .as of may 31 , 2010 and 2009 we did not have a liability for operating tax items .the amount of the liability is based on management 2019s best estimate given our history with similar matters and interpretations of current laws and regulations .bin/ica agreements in connection with our acquisition of merchant credit card operations of banks , we have entered into sponsorship or depository and processing agreements with certain of the banks .these agreements allow us to use the banks 2019 identification numbers , referred to as bank identification number for visa transactions and interbank card association number for mastercard transactions , to clear credit card transactions through visa and mastercard .certain of such agreements contain financial covenants , and we were in compliance with all such covenants as of may 31 , 2010 .on june 18 , 2010 , cibc provided notice that it will not renew its sponsorship with us for visa in canada after the initial ten year term .as a result , their canadian visa sponsorship will expire in march 2011 .we are .
|
at december 2010 what was the percent of the total future minimum lease payments for all noncancelable leases that was due in 2012
|
48.95%
|
{
"answer": "48.95%",
"decimal": 0.48950000000000005,
"type": "percentage"
}
| |
cgmhi also has substantial borrowing arrangements consisting of facilities that cgmhi has been advised are available , but where no contractual lending obligation exists .these arrangements are reviewed on an ongoing basis to ensure flexibility in meeting cgmhi 2019s short-term requirements .the company issues both fixed and variable rate debt in a range of currencies .it uses derivative contracts , primarily interest rate swaps , to effectively convert a portion of its fixed rate debt to variable rate debt and variable rate debt to fixed rate debt .the maturity structure of the derivatives generally corresponds to the maturity structure of the debt being hedged .in addition , the company uses other derivative contracts to manage the foreign exchange impact of certain debt issuances .at december 31 , 2009 , the company 2019s overall weighted average interest rate for long-term debt was 3.51% ( 3.51 % ) on a contractual basis and 3.91% ( 3.91 % ) including the effects of derivative contracts .aggregate annual maturities of long-term debt obligations ( based on final maturity dates ) including trust preferred securities are as follows: .
[['in millions of dollars', '2010', '2011', '2012', '2013', '2014', 'thereafter'], ['citigroup parent company', '$ 18030', '$ 20435', '$ 29706', '$ 17775', '$ 18916', '$ 92942'], ['other citigroup subsidiaries', '18710', '29316', '17214', '5177', '12202', '14675'], ['citigroup global markets holdings inc .', '1315', '1030', '1686', '388', '522', '8481'], ['citigroup funding inc .', '9107', '8875', '20738', '4792', '3255', '8732'], ['total', '$ 47162', '$ 59656', '$ 69344', '$ 28132', '$ 34895', '$ 124830']]
long-term debt at december 31 , 2009 and december 31 , 2008 includes $ 19345 million and $ 24060 million , respectively , of junior subordinated debt .the company formed statutory business trusts under the laws of the state of delaware .the trusts exist for the exclusive purposes of ( i ) issuing trust securities representing undivided beneficial interests in the assets of the trust ; ( ii ) investing the gross proceeds of the trust securities in junior subordinated deferrable interest debentures ( subordinated debentures ) of its parent ; and ( iii ) engaging in only those activities necessary or incidental thereto .upon approval from the federal reserve , citigroup has the right to redeem these securities .citigroup has contractually agreed not to redeem or purchase ( i ) the 6.50% ( 6.50 % ) enhanced trust preferred securities of citigroup capital xv before september 15 , 2056 , ( ii ) the 6.45% ( 6.45 % ) enhanced trust preferred securities of citigroup capital xvi before december 31 , 2046 , ( iii ) the 6.35% ( 6.35 % ) enhanced trust preferred securities of citigroup capital xvii before march 15 , 2057 , ( iv ) the 6.829% ( 6.829 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xviii before june 28 , 2047 , ( v ) the 7.250% ( 7.250 % ) enhanced trust preferred securities of citigroup capital xix before august 15 , 2047 , ( vi ) the 7.875% ( 7.875 % ) enhanced trust preferred securities of citigroup capital xx before december 15 , 2067 , and ( vii ) the 8.300% ( 8.300 % ) fixed rate/floating rate enhanced trust preferred securities of citigroup capital xxi before december 21 , 2067 , unless certain conditions , described in exhibit 4.03 to citigroup 2019s current report on form 8-k filed on september 18 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on november 28 , 2006 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on march 8 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on july 2 , 2007 , in exhibit 4.02 to citigroup 2019s current report on form 8-k filed on august 17 , 2007 , in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on november 27 , 2007 , and in exhibit 4.2 to citigroup 2019s current report on form 8-k filed on december 21 , 2007 , respectively , are met .these agreements are for the benefit of the holders of citigroup 2019s 6.00% ( 6.00 % ) junior subordinated deferrable interest debentures due 2034 .citigroup owns all of the voting securities of these subsidiary trusts .these subsidiary trusts have no assets , operations , revenues or cash flows other than those related to the issuance , administration , and repayment of the subsidiary trusts and the subsidiary trusts 2019 common securities .these subsidiary trusts 2019 obligations are fully and unconditionally guaranteed by citigroup. .
|
what is the total of aggregate annual maturities of long-term debt obligations for citigroup parent company in millions?
|
197804
|
{
"answer": "197804",
"decimal": 197804,
"type": "float"
}
| |
jpmorgan chase & co./2016 annual report 103 risk in the derivatives portfolio .in addition , the firm 2019s risk management process takes into consideration the potential impact of wrong-way risk , which is broadly defined as the potential for increased correlation between the firm 2019s exposure to a counterparty ( avg ) and the counterparty 2019s credit quality .many factors may influence the nature and magnitude of these correlations over time .to the extent that these correlations are identified , the firm may adjust the cva associated with that counterparty 2019s avg .the firm risk manages exposure to changes in cva by entering into credit derivative transactions , as well as interest rate , foreign exchange , equity and commodity derivative transactions .the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the peak , dre and avg metrics .the three measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio .exposure profile of derivatives measures december 31 , 2016 ( in billions ) the following table summarizes the ratings profile by derivative counterparty of the firm 2019s derivative receivables , including credit derivatives , net of all collateral , at the dates indicated .the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as defined by s&p and moody 2019s .ratings profile of derivative receivables rating equivalent 2016 2015 ( a ) december 31 , ( in millions , except ratios ) exposure net of all collateral % ( % ) of exposure net of all collateral exposure net of all collateral % ( % ) of exposure net of all collateral .
[['rating equivalent december 31 ( in millions except ratios )', 'rating equivalent exposure net of all collateral', 'rating equivalent % ( % ) of exposure netof all collateral', 'exposure net of all collateral', '% ( % ) of exposure netof all collateral'], ['aaa/aaa to aa-/aa3', '$ 11449', '28% ( 28 % )', '$ 10371', '24% ( 24 % )'], ['a+/a1 to a-/a3', '8505', '20', '10595', '25'], ['bbb+/baa1 to bbb-/baa3', '13127', '32', '13807', '32'], ['bb+/ba1 to b-/b3', '7308', '18', '7500', '17'], ['ccc+/caa1 and below', '984', '2', '824', '2'], ['total', '$ 41373', '100% ( 100 % )', '$ 43097', '100% ( 100 % )']]
( a ) prior period amounts have been revised to conform with the current period presentation .as previously noted , the firm uses collateral agreements to mitigate counterparty credit risk .the percentage of the firm 2019s derivatives transactions subject to collateral agreements 2014 excluding foreign exchange spot trades , which are not typically covered by collateral agreements due to their short maturity 2014 was 90% ( 90 % ) as of december 31 , 2016 , largely unchanged compared with 87% ( 87 % ) as of december 31 , 2015 .credit derivatives the firm uses credit derivatives for two primary purposes : first , in its capacity as a market-maker , and second , as an end-user to manage the firm 2019s own credit risk associated with various exposures .for a detailed description of credit derivatives , see credit derivatives in note 6 .credit portfolio management activities included in the firm 2019s end-user activities are credit derivatives used to mitigate the credit risk associated with traditional lending activities ( loans and unfunded commitments ) and derivatives counterparty exposure in the firm 2019s wholesale businesses ( collectively , 201ccredit portfolio management 201d activities ) .information on credit portfolio management activities is provided in the table below .for further information on derivatives used in credit portfolio management activities , see credit derivatives in note 6 .the firm also uses credit derivatives as an end-user to manage other exposures , including credit risk arising from certain securities held in the firm 2019s market-making businesses .these credit derivatives are not included in credit portfolio management activities ; for further information on these credit derivatives as well as credit derivatives used in the firm 2019s capacity as a market-maker in credit derivatives , see credit derivatives in note 6. .
|
what percentage of the 2016 ratings profile of derivative receivables had a rating equivalent for junk ratings?
|
20
|
{
"answer": "20",
"decimal": 20,
"type": "float"
}
|
junk is below bbb+/baa1 to bbb-/baa3
|
notes to the audited consolidated financial statements director stock compensation subplan eastman's 2016 director stock compensation subplan ( "directors' subplan" ) , a component of the 2012 omnibus plan , remains in effect until terminated by the board of directors or the earlier termination of thf e 2012 omnibus plan .the directors' subplan provides for structured awards of restricted shares to non-employee members of the board of directors .restricted shares awarded under the directors' subplan are subject to the same terms and conditions of the 2012 omnibus plan .the directors' subplan does not constitute a separate source of shares for grant of equity awards and all shares awarded are part of the 10 million shares authorized under the 2012 omnibus plan .shares of restricted stock are granted on the first day of a non-f employee director's initial term of service and shares of restricted stock are granted each year to each non-employee director on the date of the annual meeting of stockholders .general the company is authorized by the board of directors under the 2012 omnibus plan tof provide awards to employees and non- employee members of the board of directors .it has been the company's practice to issue new shares rather than treasury shares for equity awards that require settlement by the issuance of common stock and to withhold or accept back shares awarded to cover the related income tax obligations of employee participants .shares of unrestricted common stock owned by non-d employee directors are not eligible to be withheld or acquired to satisfy the withholding obligation related to their income taxes .aa shares of unrestricted common stock owned by specified senior management level employees are accepted by the company to pay the exercise price of stock options in accordance with the terms and conditions of their awards .for 2016 , 2015 , and 2014 , total share-based compensation expense ( before tax ) of approximately $ 36 million , $ 36 million , and $ 28 million , respectively , was recognized in selling , general and administrative exd pense in the consolidated statements of earnings , comprehensive income and retained earnings for all share-based awards of which approximately $ 7 million , $ 7 million , and $ 4 million , respectively , related to stock options .the compensation expense is recognized over the substantive vesting period , which may be a shorter time period than the stated vesting period for qualifying termination eligible employees as defined in the forms of award notice .for 2016 , 2015 , and 2014 , approximately $ 2 million , $ 2 million , and $ 1 million , respectively , of stock option compensation expense was recognized due to qualifying termination eligibility preceding the requisite vesting period .stock option awards options have been granted on an annual basis to non-employee directors under the directors' subplan and predecessor plans and by the compensation and management development committee of the board of directors under the 2012 omnibus plan and predecessor plans to employees .option awards have an exercise price equal to the closing price of the company's stock on the date of grant .the term of options is 10 years with vesting periods thf at vary up to three years .vesting usually occurs ratably over the vesting period or at the end of the vesting period .the company utilizes the black scholes merton option valuation model which relies on certain assumptions to estimate an option's fair value .the weighted average assumptions used in the determination of fair value for stock options awarded in 2016 , 2015 , and 2014 are provided in the table below: .
[['assumptions', '2016', '2015', '2014'], ['expected volatility rate', '23.71% ( 23.71 % )', '24.11% ( 24.11 % )', '25.82% ( 25.82 % )'], ['expected dividend yield', '2.31% ( 2.31 % )', '1.75% ( 1.75 % )', '1.70% ( 1.70 % )'], ['average risk-free interest rate', '1.23% ( 1.23 % )', '1.45% ( 1.45 % )', '1.44% ( 1.44 % )'], ['expected term years', '5.0', '4.8', '4.7']]
.
|
what percent of the total share-based compensation expense in 2016 was related to stock options?
|
19.5%
|
{
"answer": "19.5%",
"decimal": 0.195,
"type": "percentage"
}
| |
we define past-due loans as loans on which contractual principal or interest payments are over 90 days delinquent , but for which interest continues to be accrued .no institutional loans were 90 days or more contractually past due as of december 31 , 2011 , 2010 , 2009 , 2008 or 2007 .although a portion of the cre loans was 90 days or more contractually past due as of december 31 , 2011 , 2010 , 2009 and 2008 , we do not report them as past-due loans , because in accordance with gaap , the interest earned on these loans is based on an accretable yield resulting from management 2019s expectations with respect to the future cash flows for each loan relative to both the timing and collection of principal and interest as of the reporting date , not the loans 2019 contractual payment terms .these cash flow estimates are updated quarterly to reflect changes in management 2019s expectations , which consider market conditions .we generally place loans on non-accrual status once principal or interest payments are 60 days past due , or earlier if management determines that full collection is not probable .loans 60 days past due , but considered both well-secured and in the process of collection , may be excluded from non-accrual status .for loans placed on non-accrual status , revenue recognition is suspended .as of december 31 , 2011 and 2010 , approximately $ 5 million and $ 158 million , respectively , of the aforementioned cre loans had been placed by management on non-accrual status , as the yield associated with these loans , determined when the loans were acquired , was deemed to be non-accretable .this determination was based on management 2019s expectations of the future collection of principal and interest from the loans .the decline in loans on non-accrual status at december 31 , 2011 compared to december 31 , 2010 resulted mainly from the transfer of certain cre loans to other real estate owned in 2011 in connection with foreclosure or similar transactions .these transactions had no impact on our 2011 consolidated statement of income .the following table presents contractual maturities for loan and lease balances as of december 31 , 2011 : ( in millions ) total under 1 year 1 to 5 years over 5 years institutional : investment funds : u.s ...........................................$ 5592 $ 5261 $ 331 non-u.s .......................................796 796 2014 commercial and financial : u.s ...........................................563 533 30 non-u.s .......................................453 440 13 purchased receivables : u.s ...........................................563 2014 49 $ 514 non-u.s .......................................372 2014 372 2014 lease financing : u.s ...........................................397 9 39 349 non-u.s .......................................857 100 217 540 total institutional ...................................9593 7139 1051 1403 commercial real estate : u.s ...........................................460 41 21 398 total loans and leases ................................$ 10053 $ 7180 $ 1072 $ 1801 the following table presents the classification of loan and lease balances due after one year according to sensitivity to changes in interest rates as of december 31 , 2011 : ( in millions ) .
[['loans and leases with predetermined interest rates', '$ 1145'], ['loans and leases with floating or adjustable interest rates', '1728'], ['total', '$ 2873']]
.
|
what was the percent of the classification of loan and lease balances due after one year that was loans and leases with predetermined interest rates
|
39.9%
|
{
"answer": "39.9%",
"decimal": 0.39899999999999997,
"type": "percentage"
}
| |
foreign currency exchange rate risk many of our non-u.s .companies maintain both assets and liabilities in local currencies .therefore , foreign exchange rate risk is generally limited to net assets denominated in those foreign currencies .foreign exchange rate risk is reviewed as part of our risk management process .locally required capital levels are invested in home currencies in order to satisfy regulatory require- ments and to support local insurance operations regardless of currency fluctuations .the principal currencies creating foreign exchange risk for us are the british pound sterling , the euro , and the canadian dollar .the following table provides more information on our exposure to foreign exchange rate risk at december 31 , 2008 and 2007. .
[['( in millions of u.s . dollars )', '2008', '2007'], ['fair value of net assets denominated in foreign currencies', '$ 1127', '$ 1651'], ['percentage of fair value of total net assets', '7.8% ( 7.8 % )', '9.9% ( 9.9 % )'], ['pre-tax impact on equity of hypothetical 10 percent strengthening of the u.s . dollar', '$ 84', '$ 150']]
reinsurance of gmdb and gmib guarantees our net income is directly impacted by changes in the reserves calculated in connection with the reinsurance of variable annuity guarantees , primarily gmdb and gmib .these reserves are calculated in accordance with sop 03-1 ( sop reserves ) and changes in these reserves are reflected as life and annuity benefit expense , which is included in life underwriting income .in addition , our net income is directly impacted by the change in the fair value of the gmib liability ( fvl ) , which is classified as a derivative according to fas 133 .the fair value liability established for a gmib reinsurance contract represents the differ- ence between the fair value of the contract and the sop 03-1 reserves .changes in the fair value of the gmib liability , net of associated changes in the calculated sop 03-1 reserve , are reflected as realized gains or losses .ace views our variable annuity reinsurance business as having a similar risk profile to that of catastrophe reinsurance , with the probability of long-term economic loss relatively small at the time of pricing .adverse changes in market factors and policyholder behavior will have an impact on both life underwriting income and net income .when evaluating these risks , we expect to be compensated for taking both the risk of a cumulative long-term economic net loss , as well as the short-term accounting variations caused by these market movements .therefore , we evaluate this business in terms of its long-term eco- nomic risk and reward .the ultimate risk to the variable annuity guaranty reinsurance business is a long-term underperformance of investment returns , which can be exacerbated by a long-term reduction in interest rates .following a market downturn , continued market underperformance over a period of five to seven years would eventually result in a higher level of paid claims as policyholders accessed their guarantees through death or annuitization .however , if market conditions improved following a downturn , sop 03-1 reserves and fair value liability would fall reflecting a decreased likelihood of future claims , which would result in an increase in both life underwriting income and net income .as of december 31 , 2008 , management established the sop 03-1 reserve based on the benefit ratio calculated using actual market values at december 31 , 2008 .management exercises judgment in determining the extent to which short-term market movements impact the sop 03-1 reserve .the sop 03-1 reserve is based on the calculation of a long-term benefit ratio ( or loss ratio ) for the variable annuity guarantee reinsurance .despite the long-term nature of the risk the benefit ratio calculation is impacted by short-term market movements that may be judged by management to be temporary or transient .management will , in keeping with the language in sop 03-1 , regularly examine both quantitative and qualitative analysis and management will determine if , in its judgment , the change in the calculated benefit ratio is of sufficient magnitude and has persisted for a sufficient duration to warrant a change in the benefit ratio used to establish the sop 03-1 reserve .this has no impact on either premium received or claims paid nor does it impact the long-term profit or loss of the variable annuity guaran- tee reinsurance .the sop 03-1 reserve and fair value liability calculations are directly affected by market factors , including equity levels , interest rate levels , credit risk and implied volatilities , as well as policyholder behaviors , such as annuitization and lapse rates .the table below shows the sensitivity , as of december 31 , 2008 , of the sop 03-1 reserves and fair value liability associated with the variable annuity guarantee reinsurance portfolio .in addition , the tables below show the sensitivity of the fair value of specific derivative instruments held ( hedge value ) , which includes instruments purchased in january 2009 , to partially offset the risk in the variable annuity guarantee reinsurance portfolio .although these derivatives do not receive hedge accounting treatment , some portion of the change in value may be used to offset changes in the sop 03-1 reserve. .
|
what was the ratio of the pre-tax impact on equity of hypothetical 10 percent strengthening of the u.s . dollar in 2007 to 2008
|
1.79
|
{
"answer": "1.79",
"decimal": 1.79,
"type": "float"
}
| |
z i m m e r h o l d i n g s , i n c .a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k contractual obligations the company has entered into contracts with various third parties in the normal course of business which will require future payments .the following table illustrates the company 2019s contractual obligations : than 1 - 3 4 - 5 after contractual obligations total 1 year years years 5 years .
[['contractual obligations', 'total', 'less than 1 year', '1 - 3 years', '4 - 5 years', 'after 5 years'], ['long-term debt', '$ 1103.0', '$ 100.0', '$ 655.3', '$ 347.7', '$ 2013'], ['capital leases', '6.1', '1.3', '3.7', '1.1', '2013'], ['operating leases', '77.2', '23.0', '32.3', '9.2', '12.7'], ['purchase obligations', '13.3', '13.3', '2013', '2013', '2013'], ['other long-term liabilities', '352.6', '2013', '139.9', '42.0', '170.7'], ['total contractual obligations', '$ 1552.2', '$ 137.6', '$ 831.2', '$ 400.0', '$ 183.4']]
critical accounting estimates the financial results of the company are affected by the income taxes 2013 the company estimates income selection and application of accounting policies and methods .tax expense and income tax liabilities and assets by taxable significant accounting policies which require management 2019s jurisdiction .realization of deferred tax assets in each taxable judgment are discussed below .jurisdiction is dependent on the company 2019s ability to generate future taxable income sufficient to realize the excess inventory and instruments 2013 the company benefits .the company evaluates deferred tax assets on must determine as of each balance sheet date how much , if an ongoing basis and provides valuation allowances if it is any , of its inventory may ultimately prove to be unsaleable or determined to be 2018 2018more likely than not 2019 2019 that the deferred unsaleable at its carrying cost .similarly , the company must tax benefit will not be realized .federal income taxes are also determine if instruments on hand will be put to provided on the portion of the income of foreign subsidiaries productive use or remain undeployed as a result of excess that is expected to be remitted to the u.s .the company supply .reserves are established to effectively adjust operates within numerous taxing jurisdictions .the company inventory and instruments to net realizable value .to is subject to regulatory review or audit in virtually all of determine the appropriate level of reserves , the company those jurisdictions and those reviews and audits may require evaluates current stock levels in relation to historical and extended periods of time to resolve .the company makes use expected patterns of demand for all of its products and of all available information and makes reasoned judgments instrument systems and components .the basis for the regarding matters requiring interpretation in establishing determination is generally the same for all inventory and tax expense , liabilities and reserves .the company believes instrument items and categories except for work-in-progress adequate provisions exist for income taxes for all periods inventory , which is recorded at cost .obsolete or and jurisdictions subject to review or audit .discontinued items are generally destroyed and completely written off .management evaluates the need for changes to commitments and contingencies 2013 accruals for valuation reserves based on market conditions , competitive product liability and other claims are established with offerings and other factors on a regular basis .centerpulse internal and external counsel based on current information historically applied a similar conceptual framework in and historical settlement information for claims , related fees estimating market value of excess inventory and instruments and for claims incurred but not reported .an actuarial model under international financial reporting standards and is used by the company to assist management in determining u.s .generally accepted accounting principles .within that an appropriate level of accruals for product liability claims .framework , zimmer and centerpulse differed however , in historical patterns of claim loss development over time are certain respects , to their approaches to such estimation .statistically analyzed to arrive at factors which are then following the acquisition , the company determined that a applied to loss estimates in the actuarial model .the amounts consistent approach is necessary to maintaining effective established represent management 2019s best estimate of the control over financial reporting .consideration was given to ultimate costs that it will incur under the various both approaches and the company established a common contingencies .estimation technique taking both prior approaches into account .this change in estimate resulted in a charge to earnings of $ 3.0 million after tax in the fourth quarter .such change is not considered material to the company 2019s financial position , results of operations or cash flows. .
|
what percent of contractual obligations is long term debt?
|
71.06%
|
{
"answer": "71.06%",
"decimal": 0.7106,
"type": "percentage"
}
| |
is&gs 2019 operating profit decreased $ 60 million , or 8% ( 8 % ) , for 2014 compared to 2013 .the decrease was primarily attributable to the activities mentioned above for sales , lower risk retirements and reserves recorded on an international program , partially offset by severance recoveries related to the restructuring announced in november 2013 of approximately $ 20 million for 2014 .adjustments not related to volume , including net profit booking rate adjustments , were approximately $ 30 million lower for 2014 compared to 2013 .2013 compared to 2012 is&gs 2019 net sales decreased $ 479 million , or 5% ( 5 % ) , for 2013 compared to 2012 .the decrease was attributable to lower net sales of about $ 495 million due to decreased volume on various programs ( command and control programs for classified customers , ngi and eram programs ) ; and approximately $ 320 million due to the completion of certain programs ( such as total information processing support services , the transportation worker identification credential and the outsourcing desktop initiative for nasa ) .the decrease was partially offset by higher net sales of about $ 340 million due to the start-up of certain programs ( such as the disa gsm-o and the national science foundation antarctic support ) .is&gs 2019 operating profit decreased $ 49 million , or 6% ( 6 % ) , for 2013 compared to 2012 .the decrease was primarily attributable to lower operating profit of about $ 55 million due to certain programs nearing the end of their life cycles , partially offset by higher operating profit of approximately $ 15 million due to the start-up of certain programs .adjustments not related to volume , including net profit booking rate adjustments and other matters , were comparable for 2013 compared to 2012 .backlog backlog increased in 2014 compared to 2013 primarily due to several multi-year international awards and various u.s .multi-year extensions .this increase was partially offset by declining activities on various direct warfighter support and command and control programs impacted by defense budget reductions .backlog decreased in 2013 compared to 2012 primarily due to lower orders on several programs ( such as eram and ngi ) , higher sales on certain programs ( the national science foundation antarctic support and the disa gsm-o ) and declining activities on several smaller programs primarily due to the continued downturn in federal information technology budgets .trends we expect is&gs 2019 net sales to decline in 2015 in the low to mid single digit percentage range as compared to 2014 , primarily driven by the continued downturn in federal information technology budgets , an increasingly competitive environment , including the disaggregation of existing contracts , and new contract award delays , partially offset by increased sales resulting from acquisitions that occurred during the year .operating profit is expected to decline in the low double digit percentage range in 2015 primarily driven by volume and an increase in intangible amortization from 2014 acquisition activity , resulting in 2015 margins that are lower than 2014 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 ; logistics and other technical services ; fire control systems ; mission operations support , readiness , engineering support and integration services ; and manned and unmanned ground vehicles .mfc 2019s major programs include pac-3 , thaad , multiple launch rocket system , hellfire , jassm , javelin , 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 ) : .
[['', '2014', '2013', '2012'], ['net sales', '$ 7680', '$ 7757', '$ 7457'], ['operating profit', '1358', '1431', '1256'], ['operating margins', '17.7% ( 17.7 % )', '18.4% ( 18.4 % )', '16.8% ( 16.8 % )'], ['backlog at year-end', '$ 13600', '$ 15000', '$ 14700']]
2014 compared to 2013 mfc 2019s net sales for 2014 decreased $ 77 million , or 1% ( 1 % ) , compared to 2013 .the decrease was primarily attributable to lower net sales of approximately $ 385 million for technical services programs due to decreased volume reflecting market pressures ; and about $ 115 million for tactical missile programs due to fewer deliveries ( primarily high mobility artillery .
|
what is the growth rate in operating profit for mfc in 2014?
|
-5.1%
|
{
"answer": "-5.1%",
"decimal": -0.051,
"type": "percentage"
}
| |
to the two-class method .the provisions of this guidance were required for fiscal years beginning after december 15 , 2008 .the company has adopted this guidance for current period computations of earnings per share , and has updated prior period computations of earnings per share .the adoption of this guidance in the first quarter of 2009 did not have a material impact on the company 2019s computation of earnings per share .refer to note 11 for further discussion .in june 2008 , the fasb issued accounting guidance addressing the determination of whether provisions that introduce adjustment features ( including contingent adjustment features ) would prevent treating a derivative contract or an embedded derivative on a company 2019s own stock as indexed solely to the company 2019s stock .this guidance was effective for fiscal years beginning after december 15 , 2008 .the adoption of this guidance in the first quarter of 2009 did not have any impact on the company 2019s consolidated financial statements .in march 2008 , the fasb issued accounting guidance intended to improve financial reporting about derivative instruments and hedging activities by requiring enhanced disclosures to enable investors to better understand their effects on an entity 2019s financial position , financial performance , and cash flows .this guidance was effective for the fiscal years and interim periods beginning after november 15 , 2008 .the adoption of this guidance in the first quarter of 2009 did not have any impact on the company 2019s consolidated financial statements .in december 2007 , the fasb issued replacement guidance that requires the acquirer of a business to recognize and measure the identifiable assets acquired , the liabilities assumed , and any non-controlling interest in the acquired entity at fair value .this replacement guidance also requires transaction costs related to the business combination to be expensed as incurred .it was effective for business combinations for which the acquisition date was on or after the start of the fiscal year beginning after december 15 , 2008 .the adoption of this guidance in the first quarter of 2009 did not have any impact on the company 2019s consolidated financial statements .in december 2007 , the fasb issued accounting guidance that establishes accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary .this guidance was effective for fiscal years beginning after december 15 , 2008 .the adoption of this guidance in the first quarter of 2009 did not have any impact on the company 2019s consolidated financial statements .in september 2006 , the fasb issued accounting guidance which defines fair value , establishes a framework for measuring fair value in accordance with generally accepted accounting principles and expands disclosures about fair value measurements .this guidance was effective for fiscal years beginning after november 15 , 2007 , however the fasb delayed the effective date to fiscal years beginning after november 15 , 2008 for nonfinancial assets and nonfinancial liabilities , except those items recognized or disclosed at fair value on an annual or more frequent basis .the adoption of this guidance for nonfinancial assets and liabilities in the first quarter of 2009 did not have any impact on the company 2019s consolidated financial statements .3 .inventories inventories consisted of the following: .
[['( in thousands )', 'december 31 , 2009', 'december 31 , 2008'], ['finished goods', '$ 155596', '$ 187072'], ['raw materials', '785', '731'], ['work-in-process', '71', '6'], ['subtotal inventories', '156452', '187809'], ['inventories reserve', '-7964 ( 7964 )', '-5577 ( 5577 )'], ['total inventories', '$ 148488', '$ 182232']]
.
|
what was the percent of the change in the inventory reserve from 2008 to 2009
|
42.8%
|
{
"answer": "42.8%",
"decimal": 0.428,
"type": "percentage"
}
|
the inventory reserve increased by 42.8% from 2008 to 2009
|
a valuation allowance totaling $ 45.4 million , $ 43.9 million and $ 40.4 million as of 2013 , 2012 and 2011 year end , respectively , has been established for deferred income tax assets primarily related to certain subsidiary loss carryforwards that may not be realized .realization of the net deferred income tax assets is dependent on generating sufficient taxable income prior to their expiration .although realization is not assured , management believes it is more- likely-than-not that the net deferred income tax assets will be realized .the amount of the net deferred income tax assets considered realizable , however , could change in the near term if estimates of future taxable income during the carryforward period fluctuate .the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for 2013 , 2012 and ( amounts in millions ) 2013 2012 2011 .
[['( amounts in millions )', '2013', '2012', '2011'], ['unrecognized tax benefits at beginning of year', '$ 6.8', '$ 11.0', '$ 11.1'], ['gross increases 2013 tax positions in prior periods', '1.5', '0.7', '0.5'], ['gross decreases 2013 tax positions in prior periods', '-1.6 ( 1.6 )', '-4.9 ( 4.9 )', '-0.4 ( 0.4 )'], ['gross increases 2013 tax positions in the current period', '0.5', '1.2', '2.8'], ['settlements with taxing authorities', '-2.1 ( 2.1 )', '2013', '-1.2 ( 1.2 )'], ['lapsing of statutes of limitations', '-0.5 ( 0.5 )', '-1.2 ( 1.2 )', '-1.8 ( 1.8 )'], ['unrecognized tax benefits at end of year', '$ 4.6', '$ 6.8', '$ 11.0']]
of the $ 4.6 million , $ 6.8 million and $ 11.0 million of unrecognized tax benefits as of 2013 , 2012 and 2011 year end , respectively , approximately $ 4.6 million , $ 4.1 million and $ 9.1 million , respectively , would impact the effective income tax rate if recognized .interest and penalties related to unrecognized tax benefits are recorded in income tax expense .during 2013 and 2012 , the company reversed a net $ 0.6 million and $ 0.5 million , respectively , of interest and penalties to income associated with unrecognized tax benefits .as of 2013 , 2012 and 2011 year end , the company has provided for $ 0.9 million , $ 1.6 million and $ 1.6 million , respectively , of accrued interest and penalties related to unrecognized tax benefits .the unrecognized tax benefits and related accrued interest and penalties are included in 201cother long-term liabilities 201d on the accompanying consolidated balance sheets .snap-on and its subsidiaries file income tax returns in the united states and in various state , local and foreign jurisdictions .it is reasonably possible that certain unrecognized tax benefits may either be settled with taxing authorities or the statutes of limitations for such items may lapse within the next 12 months , causing snap-on 2019s gross unrecognized tax benefits to decrease by a range of zero to $ 1.1 million .over the next 12 months , snap-on anticipates taking certain tax positions on various tax returns for which the related tax benefit does not meet the recognition threshold .accordingly , snap-on 2019s gross unrecognized tax benefits may increase by a range of zero to $ 0.8 million over the next 12 months for uncertain tax positions expected to be taken in future tax filings .with few exceptions , snap-on is no longer subject to u.s .federal and state/local income tax examinations by tax authorities for years prior to 2008 , and snap-on is no longer subject to non-u.s .income tax examinations by tax authorities for years prior to 2006 .the undistributed earnings of all non-u.s .subsidiaries totaled $ 556.0 million , $ 492.2 million and $ 416.4 million as of 2013 , 2012 and 2011 year end , respectively .snap-on has not provided any deferred taxes on these undistributed earnings as it considers the undistributed earnings to be permanently invested .determination of the amount of unrecognized deferred income tax liability related to these earnings is not practicable .2013 annual report 83 .
|
in 2013 what was the percent of the unrecognized income tax benefit that could impact effective income tax rate if recognized
|
89.1%
|
{
"answer": "89.1%",
"decimal": 0.8909999999999999,
"type": "percentage"
}
| |
page 59 of 94 notes to consolidated financial statements ball corporation and subsidiaries 13 .debt and interest costs ( continued ) long-term debt obligations outstanding at december 31 , 2007 , have maturities of $ 127.1 million , $ 160 million , $ 388.4 million , $ 625.1 million and $ 550.3 million for the years ending december 31 , 2008 through 2012 , respectively , and $ 456.1 million thereafter .ball provides letters of credit in the ordinary course of business to secure liabilities recorded in connection with industrial development revenue bonds and certain self-insurance arrangements .letters of credit outstanding at december 31 , 2007 and 2006 , were $ 41 million and $ 52.4 million , respectively .the notes payable and senior credit facilities are guaranteed on a full , unconditional and joint and several basis by certain of the company 2019s domestic wholly owned subsidiaries .certain foreign denominated tranches of the senior credit facilities are similarly guaranteed by certain of the company 2019s wholly owned foreign subsidiaries .note 22 contains further details as well as condensed , consolidating financial information for the company , segregating the guarantor subsidiaries and non-guarantor subsidiaries .the company was not in default of any loan agreement at december 31 , 2007 , and has met all debt payment obligations .the u.s .note agreements , bank credit agreement and industrial development revenue bond agreements contain certain restrictions relating to dividend payments , share repurchases , investments , financial ratios , guarantees and the incurrence of additional indebtedness .on march 27 , 2006 , ball expanded its senior secured credit facilities with the addition of a $ 500 million term d loan facility due in installments through october 2011 .also on march 27 , 2006 , ball issued at a price of 99.799 percent $ 450 million of 6.625% ( 6.625 % ) senior notes ( effective yield to maturity of 6.65 percent ) due in march 2018 .the proceeds from these financings were used to refinance existing u.s .can debt with ball corporation debt at lower interest rates , acquire certain north american plastic container net assets from alcan and reduce seasonal working capital debt .( see note 3 for further details of the acquisitions. ) on october 13 , 2005 , ball refinanced its senior secured credit facilities to extend debt maturities at lower interest rate spreads and provide the company with additional borrowing capacity for future growth .during the third and fourth quarters of 2005 , ball redeemed its 7.75% ( 7.75 % ) senior notes due in august 2006 .the refinancing and senior note redemptions resulted in a debt refinancing charge of $ 19.3 million ( $ 12.3 million after tax ) for the related call premium and unamortized debt issuance costs .a summary of total interest cost paid and accrued follows: .
[['( $ in millions )', '2007', '2006', '2005'], ['interest costs before refinancing costs', '$ 155.8', '$ 142.5', '$ 102.4'], ['debt refinancing costs', '2013', '2013', '19.3'], ['total interest costs', '155.8', '142.5', '121.7'], ['amounts capitalized', '-6.4 ( 6.4 )', '-8.1 ( 8.1 )', '-5.3 ( 5.3 )'], ['interest expense', '$ 149.4', '$ 134.4', '$ 116.4'], ['interest paid during the year ( a )', '$ 153.9', '$ 125.4', '$ 138.5']]
( a ) includes $ 6.6 million paid in 2005 in connection with the redemption of the company 2019s senior and senior subordinated notes. .
|
what is the percentage change in interest expense from 2006 to 2007?
|
11.2%
|
{
"answer": "11.2%",
"decimal": 0.11199999999999999,
"type": "percentage"
}
| |
management 2019s discussion and analysis of financial conditionand results of operations d u k e r e a l t y c o r p o r a t i o n 1 1 2 0 0 2 a n n u a l r e p o r t 2022 interest expense on the company 2019s secured debt decreased from $ 30.8 million in 2001 to $ 22.9 million in 2002 as the company paid off $ 13.5 million of secured debt throughout 2002 and experienced lower borrowings on its secured line of credit during 2002 compared to 2001 .additionally , the company paid off approximately $ 128.5 million of secured debt throughout 2001 .2022 interest expense on the company 2019s $ 500 million unsecured line of credit decreased by approximately $ 1.1 million in 2002 compared to 2001 as the company maintained lower balances on the line throughout most of 2002 .as a result of the above-mentioned items , earnings from rental operations decreased $ 35.0 million from $ 254.1 million for the year ended december 31 , 2001 , to $ 219.1 million for the year ended december 31 , 2002 .service operations service operations primarily consist of leasing , management , construction and development services for joint venture properties and properties owned by third parties .service operations revenues decreased from $ 80.5 million for the year ended december 31 , 2001 , to $ 68.6 million for the year ended december 31 , 2002 .the prolonged effect of the slow economy has been the primary factor in the overall decrease in revenues .the company experienced a decrease of $ 12.7 million in net general contractor revenues because of a decrease in the volume of construction in 2002 , compared to 2001 , as well as slightly lower profit margins .property management , maintenance and leasing fee revenues decreased from $ 22.8 million in 2001 to $ 14.3 million in 2002 primarily because of a decrease in landscaping maintenance revenue resulting from the sale of the landscaping operations in the third quarter of 2001 .construction management and development activity income represents construction and development fees earned on projects where the company acts as the construction manager along with profits from the company 2019s held for sale program whereby the company develops a property for sale upon completion .the increase in revenues of $ 10.3 million in 2002 is primarily due to an increase in volume of the sale of properties from the held for sale program .service operations expenses decreased from $ 45.3 million in 2001 to $ 38.3 million in 2002 .the decrease is attributable to the decrease in construction and development activity and the reduced overhead costs as a result of the sale of the landscape business in 2001 .as a result of the above , earnings from service operations decreased from $ 35.1 million for the year ended december 31 , 2001 , to $ 30.3 million for the year ended december 31 , 2002 .general and administrative expense general and administrative expense increased from $ 15.6 million in 2001 to $ 25.4 million for the year ended december 31 , 2002 .the company has been successful reducing total operating and administration costs ; however , reduced construction and development activities have resulted in a greater amount of overhead being charged to general and administrative expense instead of being capitalized into development projects or charged to service operations .other income and expenses gain on sale of land and depreciable property dispositions , net of impairment adjustment , is comprised of the following amounts in 2002 and 2001 : gain on sales of depreciable properties represent sales of previously held for investment rental properties .beginning in 2000 and continuing into 2001 , the company pursued favorable opportunities to dispose of real estate assets that no longer met long-term investment objectives .in 2002 , the company significantly reduced this property sales program until the business climate improves and provides better investment opportunities for the sale proceeds .gain on land sales represents sales of undeveloped land owned by the company .the company pursues opportunities to dispose of land in markets with a high concentration of undeveloped land and those markets where the land no longer meets strategic development plans of the company .the company recorded a $ 9.4 million adjustment in 2002 associated with six properties determined to have an impairment of book value .the company has analyzed each of its in-service properties and has determined that there are no additional valuation adjustments that need to be made as of december 31 , 2002 .the company recorded an adjustment of $ 4.8 million in 2001 for one property that the company had contracted to sell for a price less than its book value .other revenue for the year ended december 31 , 2002 , includes $ 1.4 million of gain related to an interest rate swap that did not qualify for hedge accounting. .
[['', '2002', '2001'], ['gain on sales of depreciable properties', '$ 4491', '$ 45428'], ['gain on land sales', '4478', '5080'], ['impairment adjustment', '-9379 ( 9379 )', '-4800 ( 4800 )'], ['total', '$ -410 ( 410 )', '$ 45708']]
.
|
what is the percent change in gain on land sales from 2001 to 2002?
|
-11.9%
|
{
"answer": "-11.9%",
"decimal": -0.11900000000000001,
"type": "percentage"
}
|
unable to synthesize table and text because it is unclear whether the table is in thousands or millions .
|
management 2019s discussion and analysis expected replacement of london interbank offered rate central banks around the world , including the federal reserve , have commissioned working groups of market participants and others with the goal of finding suitable replacements for libor based on observable market transac- tions .it is expected that a transition away from the wide- spread use of libor to alternative rates will occur over the course of the next few years .effects of inflation and changes in interest and foreign exchange rates to the extent that an increased inflation outlook results in rising interest rates or has negative impacts on the valuation of financial instruments that exceed the impact on the value of our liabilities , it may adversely affect our financial position and profitability .rising inflation may also result in increases in our non-interest expenses that may not be readily recover- able in higher prices of services offered .other changes in the interest rate environment and related volatility , as well as expectations about the level of future interest rates , could also impact our results of operations .a significant portion of our business is conducted in curren- cies other than the u.s .dollar , and changes in foreign exchange rates relative to the u.s .dollar , therefore , can affect the value of non-u.s .dollar net assets , revenues and expenses .potential exposures as a result of these fluctuations in currencies are closely monitored , and , where cost-justified , strategies are adopted that are designed to reduce the impact of these fluctuations on our financial performance .these strategies may include the financing of non-u.s .dollar assets with direct or swap-based borrowings in the same currency and the use of currency forward contracts or the spot market in various hedging transactions related to net assets , revenues , expenses or cash flows .for information about cumulative foreign currency translation adjustments , see note 15 to the financial statements .off-balance sheet arrangements and contractual obligations off-balance sheet arrangements we enter into various off-balance sheet arrangements , including through unconsolidated spes and lending-related financial instruments ( e.g. , guarantees and commitments ) , primarily in connection with the institutional securities and investment management business segments .we utilize spes primarily in connection with securitization activities .for information on our securitization activities , see note 13 to the financial statements .for information on our commitments , obligations under certain guarantee arrangements and indemnities , see note 12 to the financial statements .for further information on our lending commitments , see 201cquantitative and qualitative disclosures about market risk 2014risk management 2014credit risk 2014lending activities . 201d contractual obligations in the normal course of business , we enter into various contractual obligations that may require future cash payments .contractual obligations include certain borrow- ings , other secured financings , contractual interest payments , contractual payments on time deposits , operating leases and purchase obligations .contractual obligations at december 31 , 2017 payments due in : $ in millions 2018 2019-2020 2021-2022 thereafter total borrowings1 $ 23870 $ 45963 $ 36649 $ 84581 $ 191063 other secured financings1 4992 3142 153 398 8685 contractual interest payments2 4903 7930 5680 17031 35544 time deposits3 12300 2481 108 129 15018 operating leases 2014premises4 664 1183 938 2639 5424 purchase obligations 598 607 217 197 1619 total5 $ 47327 $ 61306 $ 43745 $ 104975 $ 257353 1 .for further information on borrowings and other secured financings , see note 11 to the financial statements .amounts presented for borrowings and other secured financings are financings with original maturities greater than one year .2 .amounts represent estimated future contractual interest payments related to unse- cured borrowings with original maturities greater than one year based on applicable interest rates at december 31 , 2017 .3 .amounts represent contractual principal and interest payments related to time deposits primarily held at our u.s .bank subsidiaries .4 .for further information on operating leases covering premises and equipment , see note 12 to the financial statements .5 .amounts exclude unrecognized tax benefits , as the timing and amount of future cash payments are not determinable at this time ( see note 20 to the financial state- ments for further information ) .purchase obligations for goods and services include payments for , among other things , consulting , outsourcing , computer and telecommunications maintenance agreements , and certain transmission , transportation and storage contracts related to the commodities business .purchase obligations at december 31 , 2017 reflect the minimum contractual obliga- tion under legally enforceable contracts with contract terms that are both fixed and determinable .these amounts exclude obligations for goods and services that already have been incurred and are reflected in the balance sheets .december 2017 form 10-k 70 .
[['$ in millions', 'at december 31 2017 payments due in : 2018', 'at december 31 2017 payments due in : 2019-2020', 'at december 31 2017 payments due in : 2021-2022', 'at december 31 2017 payments due in : thereafter', 'at december 31 2017 payments due in : total'], ['borrowings1', '$ 23870', '$ 45963', '$ 36649', '$ 84581', '$ 191063'], ['other securedfinancings1', '4992', '3142', '153', '398', '8685'], ['contractual interest payments2', '4903', '7930', '5680', '17031', '35544'], ['timedeposits3', '12300', '2481', '108', '129', '15018'], ['operating leases 2014premises4', '664', '1183', '938', '2639', '5424'], ['purchase obligations', '598', '607', '217', '197', '1619'], ['total5', '$ 47327', '$ 61306', '$ 43745', '$ 104975', '$ 257353']]
management 2019s discussion and analysis expected replacement of london interbank offered rate central banks around the world , including the federal reserve , have commissioned working groups of market participants and others with the goal of finding suitable replacements for libor based on observable market transac- tions .it is expected that a transition away from the wide- spread use of libor to alternative rates will occur over the course of the next few years .effects of inflation and changes in interest and foreign exchange rates to the extent that an increased inflation outlook results in rising interest rates or has negative impacts on the valuation of financial instruments that exceed the impact on the value of our liabilities , it may adversely affect our financial position and profitability .rising inflation may also result in increases in our non-interest expenses that may not be readily recover- able in higher prices of services offered .other changes in the interest rate environment and related volatility , as well as expectations about the level of future interest rates , could also impact our results of operations .a significant portion of our business is conducted in curren- cies other than the u.s .dollar , and changes in foreign exchange rates relative to the u.s .dollar , therefore , can affect the value of non-u.s .dollar net assets , revenues and expenses .potential exposures as a result of these fluctuations in currencies are closely monitored , and , where cost-justified , strategies are adopted that are designed to reduce the impact of these fluctuations on our financial performance .these strategies may include the financing of non-u.s .dollar assets with direct or swap-based borrowings in the same currency and the use of currency forward contracts or the spot market in various hedging transactions related to net assets , revenues , expenses or cash flows .for information about cumulative foreign currency translation adjustments , see note 15 to the financial statements .off-balance sheet arrangements and contractual obligations off-balance sheet arrangements we enter into various off-balance sheet arrangements , including through unconsolidated spes and lending-related financial instruments ( e.g. , guarantees and commitments ) , primarily in connection with the institutional securities and investment management business segments .we utilize spes primarily in connection with securitization activities .for information on our securitization activities , see note 13 to the financial statements .for information on our commitments , obligations under certain guarantee arrangements and indemnities , see note 12 to the financial statements .for further information on our lending commitments , see 201cquantitative and qualitative disclosures about market risk 2014risk management 2014credit risk 2014lending activities . 201d contractual obligations in the normal course of business , we enter into various contractual obligations that may require future cash payments .contractual obligations include certain borrow- ings , other secured financings , contractual interest payments , contractual payments on time deposits , operating leases and purchase obligations .contractual obligations at december 31 , 2017 payments due in : $ in millions 2018 2019-2020 2021-2022 thereafter total borrowings1 $ 23870 $ 45963 $ 36649 $ 84581 $ 191063 other secured financings1 4992 3142 153 398 8685 contractual interest payments2 4903 7930 5680 17031 35544 time deposits3 12300 2481 108 129 15018 operating leases 2014premises4 664 1183 938 2639 5424 purchase obligations 598 607 217 197 1619 total5 $ 47327 $ 61306 $ 43745 $ 104975 $ 257353 1 .for further information on borrowings and other secured financings , see note 11 to the financial statements .amounts presented for borrowings and other secured financings are financings with original maturities greater than one year .2 .amounts represent estimated future contractual interest payments related to unse- cured borrowings with original maturities greater than one year based on applicable interest rates at december 31 , 2017 .3 .amounts represent contractual principal and interest payments related to time deposits primarily held at our u.s .bank subsidiaries .4 .for further information on operating leases covering premises and equipment , see note 12 to the financial statements .5 .amounts exclude unrecognized tax benefits , as the timing and amount of future cash payments are not determinable at this time ( see note 20 to the financial state- ments for further information ) .purchase obligations for goods and services include payments for , among other things , consulting , outsourcing , computer and telecommunications maintenance agreements , and certain transmission , transportation and storage contracts related to the commodities business .purchase obligations at december 31 , 2017 reflect the minimum contractual obliga- tion under legally enforceable contracts with contract terms that are both fixed and determinable .these amounts exclude obligations for goods and services that already have been incurred and are reflected in the balance sheets .december 2017 form 10-k 70 .
|
what percentage of total payments due in 2018 are time deposits?
|
26%
|
{
"answer": "26%",
"decimal": 0.26,
"type": "percentage"
}
| |
measurement point december 31 booking holdings nasdaq composite index s&p 500 rdg internet composite .
[['measurement pointdecember 31', 'booking holdings inc .', 'nasdaqcomposite index', 's&p 500index', 'rdg internetcomposite'], ['2012', '100.00', '100.00', '100.00', '100.00'], ['2013', '187.37', '141.63', '132.39', '163.02'], ['2014', '183.79', '162.09', '150.51', '158.81'], ['2015', '205.51', '173.33', '152.59', '224.05'], ['2016', '236.31', '187.19', '170.84', '235.33'], ['2017', '280.10', '242.29', '208.14', '338.52']]
sales of unregistered securities between october 1 , 2017 and december 31 , 2017 , we issued 103343 shares of our common stock in connection with the conversion of $ 196.1 million principal amount of our 1.0% ( 1.0 % ) convertible senior notes due 2018 .the conversions were effected in accordance with the indenture , which provides that the principal amount of converted notes be paid in cash and the conversion premium be paid in cash and/or shares of common stock at our election .in each case , we chose to pay the conversion premium in shares of common stock ( fractional shares are paid in cash ) .the issuances of the shares were not registered under the securities act of 1933 , as amended ( the "act" ) pursuant to section 3 ( a ) ( 9 ) of the act. .
|
at the measurement point december 312016 what was the ratio of the booking holdings inc . to the nasdaqcomposite index
|
1.26
|
{
"answer": "1.26",
"decimal": 1.26,
"type": "float"
}
|
at the measurement point december 312016 the ratio of the booking holdings inc . to the nasdaqcomposite index was 1.26 to 1
|
american tower corporation and subsidiaries notes to consolidated financial statements loss on retirement of long-term obligations 2014loss on retirement of long-term obligations primarily includes cash paid to retire debt in excess of its carrying value , cash paid to holders of convertible notes in connection with note conversions and non-cash charges related to the write-off of deferred financing fees .loss on retirement of long-term obligations also includes gains from repurchasing or refinancing certain of the company 2019s debt obligations .earnings per common share 2014basic and diluted 2014basic income from continuing operations per common share for the years ended december 31 , 2012 , 2011 and 2010 represents income from continuing operations attributable to american tower corporation divided by the weighted average number of common shares outstanding during the period .diluted income from continuing operations per common share for the years ended december 31 , 2012 , 2011 and 2010 represents income from continuing operations attributable to american tower corporation divided by the weighted average number of common shares outstanding during the period and any dilutive common share equivalents , including unvested restricted stock , shares issuable upon exercise of stock options and warrants as determined under the treasury stock method and upon conversion of the company 2019s convertible notes , as determined under the if-converted method .retirement plan 2014the company has a 401 ( k ) plan covering substantially all employees who meet certain age and employment requirements .the company 2019s matching contribution for the years ended december 31 , 2012 , 2011 and 2010 is 50% ( 50 % ) up to a maximum 6% ( 6 % ) of a participant 2019s contributions .for the years ended december 31 , 2012 , 2011 and 2010 , the company contributed approximately $ 4.4 million , $ 2.9 million and $ 1.9 million to the plan , respectively .2 .prepaid and other current assets prepaid and other current assets consist of the following as of december 31 , ( in thousands ) : .
[['', '2012', '2011 ( 1 )'], ['prepaid income tax', '$ 57665', '$ 31384'], ['prepaid operating ground leases', '56916', '49585'], ['value added tax and other consumption tax receivables', '22443', '81276'], ['prepaid assets', '19037', '28031'], ['other miscellaneous current assets', '66790', '59997'], ['balance as of december 31,', '$ 222851', '$ 250273']]
( 1 ) december 31 , 2011 balances have been revised to reflect purchase accounting measurement period adjustments. .
|
what was the average company contribution to the retirement plan from 2010 to 2012
|
3.06
|
{
"answer": "3.06",
"decimal": 3.06,
"type": "float"
}
| |
management 2019s discussion and analysis 122 jpmorgan chase & co./2015 annual report wholesale credit portfolio the firm 2019s wholesale businesses are exposed to credit risk through underwriting , lending , market-making , and hedging activities with and for clients and counterparties , as well as through various operating services such as cash management and clearing activities .a portion of the loans originated or acquired by the firm 2019s wholesale businesses is generally retained on the balance sheet .the firm distributes a significant percentage of the loans it originates into the market as part of its syndicated loan business and to manage portfolio concentrations and credit risk .the wholesale credit portfolio , excluding oil & gas , continued to be generally stable throughout 2015 , characterized by low levels of criticized exposure , nonaccrual loans and charge-offs .growth in loans retained was driven by increased client activity , notably in commercial real estate .discipline in underwriting across all areas of lending continues to remain a key point of focus .the wholesale portfolio is actively managed , in part by conducting ongoing , in-depth reviews of client credit quality and transaction structure , inclusive of collateral where applicable ; and of industry , product and client concentrations .wholesale credit portfolio december 31 , credit exposure nonperforming ( c ) .
[['december 31 , ( in millions )', 'december 31 , 2015', 'december 31 , 2014', '2015', '2014'], ['loans retained', '$ 357050', '$ 324502', '$ 988', '$ 599'], ['loans held-for-sale', '1104', '3801', '3', '4'], ['loans at fair value', '2861', '2611', '25', '21'], ['loans 2013 reported', '361015', '330914', '1016', '624'], ['derivative receivables', '59677', '78975', '204', '275'], ['receivables from customers and other ( a )', '13372', '28972', '2014', '2014'], ['total wholesale credit-related assets', '434064', '438861', '1220', '899'], ['lending-related commitments', '366399', '366881', '193', '103'], ['total wholesale credit exposure', '$ 800463', '$ 805742', '$ 1413', '$ 1002'], ['credit derivatives usedin credit portfolio management activities ( b )', '$ -20681 ( 20681 )', '$ -26703 ( 26703 )', '$ -9 ( 9 )', '$ 2014'], ['liquid securities and other cash collateral held against derivatives', '-16580 ( 16580 )', '-19604 ( 19604 )', 'na', 'na']]
receivables from customers and other ( a ) 13372 28972 2014 2014 total wholesale credit- related assets 434064 438861 1220 899 lending-related commitments 366399 366881 193 103 total wholesale credit exposure $ 800463 $ 805742 $ 1413 $ 1002 credit derivatives used in credit portfolio management activities ( b ) $ ( 20681 ) $ ( 26703 ) $ ( 9 ) $ 2014 liquid securities and other cash collateral held against derivatives ( 16580 ) ( 19604 ) na na ( a ) receivables from customers and other include $ 13.3 billion and $ 28.8 billion of margin loans at december 31 , 2015 and 2014 , respectively , to prime and retail brokerage customers ; these are classified in accrued interest and accounts receivable on the consolidated balance sheets .( b ) represents the net notional amount of protection purchased and sold through credit derivatives used to manage both performing and nonperforming wholesale credit exposures ; these derivatives do not qualify for hedge accounting under u.s .gaap .for additional information , see credit derivatives on page 129 , and note 6 .( c ) excludes assets acquired in loan satisfactions. .
|
what was the percentage change in loans retained from 2014 to 2015?
|
10%
|
{
"answer": "10%",
"decimal": 0.1,
"type": "percentage"
}
| |
page 59 of 94 notes to consolidated financial statements ball corporation and subsidiaries 13 .debt and interest costs ( continued ) long-term debt obligations outstanding at december 31 , 2007 , have maturities of $ 127.1 million , $ 160 million , $ 388.4 million , $ 625.1 million and $ 550.3 million for the years ending december 31 , 2008 through 2012 , respectively , and $ 456.1 million thereafter .ball provides letters of credit in the ordinary course of business to secure liabilities recorded in connection with industrial development revenue bonds and certain self-insurance arrangements .letters of credit outstanding at december 31 , 2007 and 2006 , were $ 41 million and $ 52.4 million , respectively .the notes payable and senior credit facilities are guaranteed on a full , unconditional and joint and several basis by certain of the company 2019s domestic wholly owned subsidiaries .certain foreign denominated tranches of the senior credit facilities are similarly guaranteed by certain of the company 2019s wholly owned foreign subsidiaries .note 22 contains further details as well as condensed , consolidating financial information for the company , segregating the guarantor subsidiaries and non-guarantor subsidiaries .the company was not in default of any loan agreement at december 31 , 2007 , and has met all debt payment obligations .the u.s .note agreements , bank credit agreement and industrial development revenue bond agreements contain certain restrictions relating to dividend payments , share repurchases , investments , financial ratios , guarantees and the incurrence of additional indebtedness .on march 27 , 2006 , ball expanded its senior secured credit facilities with the addition of a $ 500 million term d loan facility due in installments through october 2011 .also on march 27 , 2006 , ball issued at a price of 99.799 percent $ 450 million of 6.625% ( 6.625 % ) senior notes ( effective yield to maturity of 6.65 percent ) due in march 2018 .the proceeds from these financings were used to refinance existing u.s .can debt with ball corporation debt at lower interest rates , acquire certain north american plastic container net assets from alcan and reduce seasonal working capital debt .( see note 3 for further details of the acquisitions. ) on october 13 , 2005 , ball refinanced its senior secured credit facilities to extend debt maturities at lower interest rate spreads and provide the company with additional borrowing capacity for future growth .during the third and fourth quarters of 2005 , ball redeemed its 7.75% ( 7.75 % ) senior notes due in august 2006 .the refinancing and senior note redemptions resulted in a debt refinancing charge of $ 19.3 million ( $ 12.3 million after tax ) for the related call premium and unamortized debt issuance costs .a summary of total interest cost paid and accrued follows: .
[['( $ in millions )', '2007', '2006', '2005'], ['interest costs before refinancing costs', '$ 155.8', '$ 142.5', '$ 102.4'], ['debt refinancing costs', '2013', '2013', '19.3'], ['total interest costs', '155.8', '142.5', '121.7'], ['amounts capitalized', '-6.4 ( 6.4 )', '-8.1 ( 8.1 )', '-5.3 ( 5.3 )'], ['interest expense', '$ 149.4', '$ 134.4', '$ 116.4'], ['interest paid during the year ( a )', '$ 153.9', '$ 125.4', '$ 138.5']]
( a ) includes $ 6.6 million paid in 2005 in connection with the redemption of the company 2019s senior and senior subordinated notes. .
|
what is the average balance of letters of credit outstanding as of december 31 , 2007 and 2006 , in millions?
|
46.7
|
{
"answer": "46.7",
"decimal": 46.7,
"type": "float"
}
| |
26 | 2009 annual report in fiscal 2008 , revenues in the credit union systems and services business segment increased 14% ( 14 % ) from fiscal 2007 .all revenue components within the segment experienced growth during fiscal 2008 .license revenue generated the largest dollar growth in revenue as episys ae , our flagship core processing system aimed at larger credit unions , experienced strong sales throughout the year .support and service revenue , which is the largest component of total revenues for the credit union segment , experienced 34 percent growth in eft support and 10 percent growth in in-house support .gross profit in this business segment increased $ 9344 in fiscal 2008 compared to fiscal 2007 , due primarily to the increase in license revenue , which carries the highest margins .liquidity and capital resources we have historically generated positive cash flow from operations and have generally used funds generated from operations and short-term borrowings on our revolving credit facility to meet capital requirements .we expect this trend to continue in the future .the company 2019s cash and cash equivalents increased to $ 118251 at june 30 , 2009 from $ 65565 at june 30 , 2008 .the following table summarizes net cash from operating activities in the statement of cash flows : 2009 2008 2007 .
[['2008', 'year ended june 30 2009 2008', 'year ended june 30 2009 2008', 'year ended june 30 2009'], ['net income', '$ 103102', '$ 104222', '$ 104681'], ['non-cash expenses', '74397', '70420', '56348'], ['change in receivables', '21214', '-2913 ( 2913 )', '-28853 ( 28853 )'], ['change in deferred revenue', '21943', '5100', '24576'], ['change in other assets and liabilities', '-14068 ( 14068 )', '4172', '17495'], ['net cash from operating activities', '$ 206588', '$ 181001', '$ 174247']]
year ended june 30 , cash provided by operations increased $ 25587 to $ 206588 for the fiscal year ended june 30 , 2009 as compared to $ 181001 for the fiscal year ended june 30 , 2008 .this increase is primarily attributable to a decrease in receivables compared to the same period a year ago of $ 21214 .this decrease is largely the result of fiscal 2010 annual software maintenance billings being provided to customers earlier than in the prior year , which allowed more cash to be collected before the end of the fiscal year than in previous years .further , we collected more cash overall related to revenues that will be recognized in subsequent periods in the current year than in fiscal 2008 .cash used in investing activities for the fiscal year ended june 2009 was $ 59227 and includes $ 3027 in contingent consideration paid on prior years 2019 acquisitions .cash used in investing activities for the fiscal year ended june 2008 was $ 102148 and includes payments for acquisitions of $ 48109 , plus $ 1215 in contingent consideration paid on prior years 2019 acquisitions .capital expenditures for fiscal 2009 were $ 31562 compared to $ 31105 for fiscal 2008 .cash used for software development in fiscal 2009 was $ 24684 compared to $ 23736 during the prior year .net cash used in financing activities for the current fiscal year was $ 94675 and includes the repurchase of 3106 shares of our common stock for $ 58405 , the payment of dividends of $ 26903 and $ 13489 net repayment on our revolving credit facilities .cash used in financing activities was partially offset by proceeds of $ 3773 from the exercise of stock options and the sale of common stock ( through the employee stock purchase plan ) and $ 348 excess tax benefits from stock option exercises .during fiscal 2008 , net cash used in financing activities for the fiscal year was $ 101905 and includes the repurchase of 4200 shares of our common stock for $ 100996 , the payment of dividends of $ 24683 and $ 429 net repayment on our revolving credit facilities .cash used in financing activities was partially offset by proceeds of $ 20394 from the exercise of stock options and the sale of common stock and $ 3809 excess tax benefits from stock option exercises .beginning during fiscal 2008 , us financial markets and many of the largest us financial institutions have been shaken by negative developments in the home mortgage industry and the mortgage markets , and particularly the markets for subprime mortgage-backed securities .since that time , these and other such developments have resulted in a broad , global economic downturn .while we , as is the case with most companies , have experienced the effects of this downturn , we have not experienced any significant issues with our current collection efforts , and we believe that any future impact to our liquidity will be minimized by cash generated by recurring sources of revenue and due to our access to available lines of credit. .
|
for the year ended june 30 , cash provided by operations increased by what percent compared to the fiscal year ended june 30 , 2008?
|
14.1%
|
{
"answer": "14.1%",
"decimal": 0.141,
"type": "percentage"
}
| |
liquidity and capital resources the following table summarizes liquidity data as of the dates indicated ( in thousands ) : december 31 , december 31 .
[['', 'december 31 2016', 'december 31 2015'], ['cash and equivalents', '$ 227400', '$ 87397'], ['total debt ( 1 )', '3365687', '1599695'], ['current maturities ( 2 )', '68414', '57494'], ['capacity under credit facilities ( 3 )', '2550000', '1947000'], ['availability under credit facilities ( 3 )', '1019112', '1337653'], ['total liquidity ( cash and equivalents plus availability on credit facilities )', '1246512', '1425050']]
total debt ( 1 ) 3365687 1599695 current maturities ( 2 ) 68414 57494 capacity under credit facilities ( 3 ) 2550000 1947000 availability under credit facilities ( 3 ) 1019112 1337653 total liquidity ( cash and equivalents plus availability on credit facilities ) 1246512 1425050 ( 1 ) debt amounts reflect the gross values to be repaid ( excluding debt issuance costs of $ 23.9 million and $ 15.0 million as of december 31 , 2016 and 2015 , respectively ) .( 2 ) debt amounts reflect the gross values to be repaid ( excluding debt issuance costs of $ 2.3 million and $ 1.5 million as of december 31 , 2016 and 2015 , respectively ) .( 3 ) includes our revolving credit facilities , our receivables securitization facility , and letters of credit .we assess our liquidity in terms of our ability to fund our operations and provide for expansion through both internal development and acquisitions .our primary sources of liquidity are cash flows from operations and our credit facilities .we utilize our cash flows from operations to fund working capital and capital expenditures , with the excess amounts going towards funding acquisitions or paying down outstanding debt .as we have pursued acquisitions as part of our growth strategy , our cash flows from operations have not always been sufficient to cover our investing activities .to fund our acquisitions , we have accessed various forms of debt financing , including revolving credit facilities , senior notes , and a receivables securitization facility .as of december 31 , 2016 , we had debt outstanding and additional available sources of financing , as follows : 2022 senior secured credit facilities maturing in january 2021 , composed of term loans totaling $ 750 million ( $ 732.7 million outstanding at december 31 , 2016 ) and $ 2.45 billion in revolving credit ( $ 1.36 billion outstanding at december 31 , 2016 ) , bearing interest at variable rates ( although a portion of this debt is hedged through interest rate swap contracts ) reduced by $ 72.7 million of amounts outstanding under letters of credit 2022 senior notes totaling $ 600 million , maturing in may 2023 and bearing interest at a 4.75% ( 4.75 % ) fixed rate 2022 euro notes totaling $ 526 million ( 20ac500 million ) , maturing in april 2024 and bearing interest at a 3.875% ( 3.875 % ) fixed rate 2022 receivables securitization facility with availability up to $ 100 million ( $ 100 million outstanding as of december 31 , 2016 ) , maturing in november 2019 and bearing interest at variable commercial paper from time to time , we may undertake financing transactions to increase our available liquidity , such as our january 2016 amendment to our senior secured credit facilities , the issuance of 20ac500 million of euro notes in april 2016 , and the november 2016 amendment to our receivables securitization facility .the rhiag acquisition was the catalyst for the april issuance of 20ac500 million of euro notes .given that rhiag is a long term asset , we considered alternative financing options and decided to fund a portion of this acquisition through the issuance of long term notes .additionally , the interest rates on rhiag's acquired debt ranged between 6.45% ( 6.45 % ) and 7.25% ( 7.25 % ) .with the issuance of the 20ac500 million of senior notes at a rate of 3.875% ( 3.875 % ) , we were able to replace rhiag's borrowings with long term financing at favorable rates .this refinancing also provides financial flexibility to execute our long-term growth strategy by freeing up availability under our revolver .if we see an attractive acquisition opportunity , we have the ability to use our revolver to move quickly and have certainty of funding .as of december 31 , 2016 , we had approximately $ 1.02 billion available under our credit facilities .combined with approximately $ 227.4 million of cash and equivalents at december 31 , 2016 , we had approximately $ 1.25 billion in available liquidity , a decrease of $ 178.5 million from our available liquidity as of december 31 , 2015 .we expect to use the proceeds from the sale of pgw's glass manufacturing business to pay down borrowings under our revolving credit facilities , which would increase our available liquidity by approximately $ 310 million when the transaction closes. .
|
what was the change in total debt from 2015 to 2016?
|
1765992
|
{
"answer": "1765992",
"decimal": 1765992,
"type": "float"
}
| |
table of contents the following discussion of nonoperating income and expense excludes the results of us airways in order to provide a more meaningful year-over-year comparison .interest expense , net of capitalized interest decreased $ 129 million in 2014 from 2013 primarily due to a $ 63 million decrease in special charges recognized year-over-year as further described below , as well as refinancing activities that resulted in $ 65 million less interest expense recognized in 2014 .( 1 ) in 2014 , american recognized $ 29 million of special charges relating to non-cash interest accretion on bankruptcy settlement obligations .in 2013 , american recognized $ 48 million of special charges relating to post-petition interest expense on unsecured obligations pursuant to the plan and penalty interest related to american 2019s 10.5% ( 10.5 % ) secured notes and 7.50% ( 7.50 % ) senior secured notes .in addition , in 2013 american recorded special charges of $ 44 million for debt extinguishment costs incurred as a result of the repayment of certain aircraft secured indebtedness , including cash interest charges and non-cash write offs of unamortized debt issuance costs .( 2 ) as a result of the 2013 refinancing activities and the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes in 2014 , american incurred $ 65 million less interest expense in 2014 as compared to 2013 .other nonoperating expense , net in 2014 consisted of $ 92 million of net foreign currency losses , including a $ 43 million special charge for venezuelan foreign currency losses , and $ 48 million of early debt extinguishment costs related to the prepayment of american 2019s 7.50% ( 7.50 % ) senior secured notes and other indebtedness .the foreign currency losses were driven primarily by the strengthening of the u.s .dollar relative to other currencies during 2014 , principally in the latin american market , including a 48% ( 48 % ) decrease in the value of the venezuelan bolivar and a 14% ( 14 % ) decrease in the value of the brazilian real .other nonoperating expense , net in 2013 consisted principally of net foreign currency losses of $ 55 million and early debt extinguishment charges of $ 29 million .reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases .the following table summarizes the components included in reorganization items , net on american 2019s consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : .
[['', '2013'], ['labor-related deemed claim ( 1 )', '$ 1733'], ['aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )', '320'], ['fair value of conversion discount ( 4 )', '218'], ['professional fees', '199'], ['other', '170'], ['total reorganization items net', '$ 2640']]
( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , american agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees .each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes .the total value of this deemed claim was approximately $ 1.7 billion .( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue .
|
what was the ratio of the labor-related deemed claim to professional services in 2013
|
8.77
|
{
"answer": "8.77",
"decimal": 8.77,
"type": "float"
}
|
for every dollar spent on professional services there was 8.77 spent on labor-related deemed claim
|
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 expenditures for capital assets in 2018 as a percentage of cash from operating activities in 2018?
|
56.5%
|
{
"answer": "56.5%",
"decimal": 0.565,
"type": "percentage"
}
| |
marathon oil corporation notes to consolidated financial statements operating lease rental expense was : ( in millions ) 2008 2007 2006 minimum rental ( a ) $ 245 $ 209 $ 172 .
[['( in millions )', '2008', '2007', '2006'], ['minimum rental ( a )', '$ 245', '$ 209', '$ 172'], ['contingent rental', '22', '33', '28'], ['sublease rentals', '2013', '2013', '-7 ( 7 )'], ['net rental expense', '$ 267', '$ 242', '$ 193']]
( a ) excludes $ 5 million , $ 8 million and $ 9 million paid by united states steel in 2008 , 2007 and 2006 on assumed leases .27 .contingencies and commitments we are the subject of , or party to , a number of pending or threatened legal actions , contingencies and commitments involving a variety of matters , including laws and regulations relating to the environment .certain of these matters are discussed below .the ultimate resolution of these contingencies could , individually or in the aggregate , be material to our consolidated financial statements .however , management believes that we will remain a viable and competitive enterprise even though it is possible that these contingencies could be resolved unfavorably .environmental matters 2013 we are subject to federal , state , local and foreign laws and regulations relating to the environment .these laws generally provide for control of pollutants released into the environment and require responsible parties to undertake remediation of hazardous waste disposal sites .penalties may be imposed for noncompliance .at december 31 , 2008 and 2007 , accrued liabilities for remediation totaled $ 111 million and $ 108 million .it is not presently possible to estimate the ultimate amount of all remediation costs that might be incurred or the penalties that may be imposed .receivables for recoverable costs from certain states , under programs to assist companies in clean-up efforts related to underground storage tanks at retail marketing outlets , were $ 60 and $ 66 million at december 31 , 2008 and 2007 .we are a defendant , along with other refining companies , in 20 cases arising in three states alleging damages for methyl tertiary-butyl ether ( 201cmtbe 201d ) contamination .we have also received seven toxic substances control act notice letters involving potential claims in two states .such notice letters are often followed by litigation .like the cases that were settled in 2008 , the remaining mtbe cases are consolidated in a multidistrict litigation in the southern district of new york for pretrial proceedings .nineteen of the remaining cases allege damages to water supply wells , similar to the damages claimed in the settled cases .in the other remaining case , the state of new jersey is seeking natural resources damages allegedly resulting from contamination of groundwater by mtbe .this is the only mtbe contamination case in which we are a defendant and natural resources damages are sought .we are vigorously defending these cases .we , along with a number of other defendants , have engaged in settlement discussions related to the majority of the cases in which we are a defendant .we do not expect our share of liability , if any , for the remaining cases to significantly impact our consolidated results of operations , financial position or cash flows .a lawsuit filed in the united states district court for the southern district of west virginia alleges that our catlettsburg , kentucky , refinery distributed contaminated gasoline to wholesalers and retailers for a period prior to august , 2003 , causing permanent damage to storage tanks , dispensers and related equipment , resulting in lost profits , business disruption and personal and real property damages .following the incident , we conducted remediation operations at affected facilities , and we deny that any permanent damages resulted from the incident .class action certification was granted in august 2007 .we have entered into a tentative settlement agreement in this case .notice of the proposed settlement has been sent to the class members .approval by the court after a fairness hearing is required before the settlement can be finalized .the fairness hearing is scheduled in the first quarter of 2009 .the proposed settlement will not significantly impact our consolidated results of operations , financial position or cash flows .guarantees 2013 we have provided certain guarantees , direct and indirect , of the indebtedness of other companies .under the terms of most of these guarantee arrangements , we would be required to perform should the guaranteed party fail to fulfill its obligations under the specified arrangements .in addition to these financial guarantees , we also have various performance guarantees related to specific agreements. .
|
what was the change in millions for receivables for recoverable costs from certain states , under programs to assist companies in clean-up efforts related to underground storage tanks at retail marketing outlets , between december 31 , 2008 and 2007?
|
-6
|
{
"answer": "-6",
"decimal": -6,
"type": "float"
}
| |
average age ( yrs. ) highway revenue equipment owned leased total .
[['highway revenue equipment', 'owned', 'leased', 'total', 'averageage ( yrs. )'], ['containers', '26629', '28306', '54935', '7.1'], ['chassis', '15182', '25951', '41133', '8.9'], ['total highway revenue equipment', '41811', '54257', '96068', 'n/a']]
capital expenditures our rail network requires significant annual capital investments for replacement , improvement , and expansion .these investments enhance safety , support the transportation needs of our customers , and improve our operational efficiency .additionally , we add new locomotives and freight cars to our fleet to replace older , less efficient equipment , to support growth and customer demand , and to reduce our impact on the environment through the acquisition of more fuel-efficient and low-emission locomotives .2014 capital program 2013 during 2014 , our capital program totaled $ 4.1 billion .( see the cash capital expenditures table in management 2019s discussion and analysis of financial condition and results of operations 2013 liquidity and capital resources 2013 financial condition , item 7. ) 2015 capital plan 2013 in 2015 , we expect our capital plan to be approximately $ 4.3 billion , which will include expenditures for ptc of approximately $ 450 million and may include non-cash investments .we may revise our 2015 capital plan if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments .( see discussion of our 2015 capital plan in management 2019s discussion and analysis of financial condition and results of operations 2013 2015 outlook , item 7. ) equipment encumbrances 2013 equipment with a carrying value of approximately $ 2.8 billion and $ 2.9 billion at december 31 , 2014 , and 2013 , respectively served as collateral for capital leases and other types of equipment obligations in accordance with the secured financing arrangements utilized to acquire or refinance such railroad equipment .as a result of the merger of missouri pacific railroad company ( mprr ) with and into uprr on january 1 , 1997 , and pursuant to the underlying indentures for the mprr mortgage bonds , uprr must maintain the same value of assets after the merger in order to comply with the security requirements of the mortgage bonds .as of the merger date , the value of the mprr assets that secured the mortgage bonds was approximately $ 6.0 billion .in accordance with the terms of the indentures , this collateral value must be maintained during the entire term of the mortgage bonds irrespective of the outstanding balance of such bonds .environmental matters 2013 certain of our properties are subject to federal , state , and local laws and regulations governing the protection of the environment .( see discussion of environmental issues in business 2013 governmental and environmental regulation , item 1 , and management 2019s discussion and analysis of financial condition and results of operations 2013 critical accounting policies 2013 environmental , item 7. ) item 3 .legal proceedings from time to time , we are involved in legal proceedings , claims , and litigation that occur in connection with our business .we routinely assess our liabilities and contingencies in connection with these matters based upon the latest available information and , when necessary , we seek input from our third-party advisors when making these assessments .consistent with sec rules and requirements , we describe below material pending legal proceedings ( other than ordinary routine litigation incidental to our business ) , material proceedings known to be contemplated by governmental authorities , other proceedings arising under federal , state , or local environmental laws and regulations ( including governmental proceedings involving potential fines , penalties , or other monetary sanctions in excess of $ 100000 ) , and such other pending matters that we may determine to be appropriate. .
|
what percentage of containers are owned?
|
48%
|
{
"answer": "48%",
"decimal": 0.48,
"type": "percentage"
}
| |
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 .
|
what percentage of total debt maturities are from 2016 and 2017?
|
10.38%
|
{
"answer": "10.38%",
"decimal": 0.1038,
"type": "percentage"
}
| |
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 was the percent of the total number of shares purchased as part of publicly announced plans or programs ( 1 ) ( 2 ) in november 2013 to the total
|
59.7%
|
{
"answer": "59.7%",
"decimal": 0.597,
"type": "percentage"
}
| |
management 2019s discussion and analysis of financial condition and results of operations ( continued ) the npr is generally consistent with the basel committee 2019s lcr .however , it includes certain more stringent requirements , including an accelerated implementation time line and modifications to the definition of high-quality liquid assets and expected outflow assumptions .we continue to analyze the proposed rules and analyze their impact as well as develop strategies for compliance .the principles of the lcr are consistent with our liquidity management framework ; however , the specific calibrations of various elements within the final lcr rule , such as the eligibility of assets as hqla , operational deposit requirements and net outflow requirements could have a material effect on our liquidity , funding and business activities , including the management and composition of our investment securities portfolio and our ability to extend committed contingent credit facilities to our clients .in january 2014 , the basel committee released a revised proposal with respect to the net stable funding ratio , or nsfr , which will establish a one-year liquidity standard representing the proportion of long-term assets funded by long-term stable funding , scheduled for global implementation in 2018 .the revised nsfr has made some favorable changes regarding the treatment of operationally linked deposits and a reduction in the funding required for certain securities .however , we continue to review the specifics of the basel committee's release and will be evaluating the u.s .implementation of this standard to analyze the impact and develop strategies for compliance .u.s .banking regulators have not yet issued a proposal to implement the nsfr .contractual cash obligations and other commitments the following table presents our long-term contractual cash obligations , in total and by period due as of december 31 , 2013 .these obligations were recorded in our consolidated statement of condition as of that date , except for operating leases and the interest portions of long-term debt and capital leases .contractual cash obligations .
[['as of december 31 2013 ( in millions )', 'payments due by period total', 'payments due by period less than 1year', 'payments due by period 1-3years', 'payments due by period 4-5years', 'payments due by period over 5years'], ['long-term debt ( 1 )', '$ 10630', '$ 1015', '$ 2979', '$ 2260', '$ 4376'], ['operating leases', '923', '208', '286', '209', '220'], ['capital lease obligations', '1051', '99', '185', '169', '598'], ['total contractual cash obligations', '$ 12604', '$ 1322', '$ 3450', '$ 2638', '$ 5194']]
( 1 ) long-term debt excludes capital lease obligations ( presented as a separate line item ) and the effect of interest-rate swaps .interest payments were calculated at the stated rate with the exception of floating-rate debt , for which payments were calculated using the indexed rate in effect as of december 31 , 2013 .the table above does not include obligations which will be settled in cash , primarily in less than one year , such as client deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings .additional information about deposits , federal funds purchased , securities sold under repurchase agreements and other short-term borrowings is provided in notes 8 and 9 to the consolidated financial statements included under item 8 of this form 10-k .the table does not include obligations related to derivative instruments because the derivative-related amounts recorded in our consolidated statement of condition as of december 31 , 2013 did not represent the amounts that may ultimately be paid under the contracts upon settlement .additional information about our derivative instruments is provided in note 16 to the consolidated financial statements included under item 8 of this form 10-k .we have obligations under pension and other post-retirement benefit plans , more fully described in note 19 to the consolidated financial statements included under item 8 of this form 10-k , which are not included in the above table .additional information about contractual cash obligations related to long-term debt and operating and capital leases is provided in notes 10 and 20 to the consolidated financial statements included under item 8 of this form 10-k .our consolidated statement of cash flows , also included under item 8 of this form 10-k , provides additional liquidity information .the following table presents our commitments , other than the contractual cash obligations presented above , in total and by duration as of december 31 , 2013 .these commitments were not recorded in our consolidated statement of condition as of that date. .
|
what portion of the long-term debt is reported under the current liabilities section as of december 31 , 2013?
|
9.5%
|
{
"answer": "9.5%",
"decimal": 0.095,
"type": "percentage"
}
| |
issuer purchases of equity securities during the three months ended december 31 , 2010 , we repurchased 1460682 shares of our common stock for an aggregate of $ 74.6 million , including commissions and fees , pursuant to our publicly announced stock repurchase program , as follows : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) .
[['period', 'total number of shares purchased ( 1 )', 'average price paid per share', 'total number of shares purchased as part of publicly announced plans or programs', 'approximate dollar value of shares that may yet be purchasedunder the plans or programs ( in millions )'], ['october 2010', '722890', '$ 50.76', '722890', '$ 369.1'], ['november 2010', '400692', '$ 51.81', '400692', '$ 348.3'], ['december 2010', '337100', '$ 50.89', '337100', '$ 331.1'], ['total fourth quarter', '1460682', '$ 51.08', '1460682', '$ 331.1']]
( 1 ) repurchases made pursuant to the $ 1.5 billion stock repurchase program approved by our board of directors in february 2008 ( the 201cbuyback 201d ) .under this program , our management is authorized to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors .to facilitate repurchases , we make purchases pursuant to trading plans under rule 10b5-1 of the exchange act , which allows us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods .this program may be discontinued at any time .subsequent to december 31 , 2010 , we repurchased 1122481 shares of our common stock for an aggregate of $ 58.0 million , including commissions and fees , pursuant to the buyback .as of february 11 , 2011 , we had repurchased a total of 30.9 million shares of our common stock for an aggregate of $ 1.2 billion , including commissions and fees pursuant to the buyback .we expect to continue to manage the pacing of the remaining $ 273.1 million under the buyback in response to general market conditions and other relevant factors. .
|
what was the percent of the total number of shares purchased in fourth quarter of 2010 in october
|
49.5%
|
{
"answer": "49.5%",
"decimal": 0.495,
"type": "percentage"
}
| |
edwards lifesciences corporation notes to consolidated financial statements ( continued ) 13 .common stock ( continued ) the company also maintains the nonemployee directors stock incentive compensation program ( the 2018 2018nonemployee directors program 2019 2019 ) .under the nonemployee directors program , each nonemployee director may receive annually up to 20000 stock options or 8000 restricted stock units of the company 2019s common stock , or a combination thereof , provided that in no event may the total value of the combined annual award exceed $ 0.2 million .each option and restricted stock unit award granted in 2011 or prior generally vests in three equal annual installments .each option and restricted stock unit award granted after 2011 generally vests after one year .additionally , each nonemployee director may elect to receive all or a portion of the annual cash retainer to which the director is otherwise entitled through the issuance of stock options or restricted shares .each option received as a deferral of the cash retainer immediately vests on the grant date , and each restricted share award vests after one year .upon a director 2019s initial election to the board , the director receives an initial grant of stock options equal to a fair market value on grant date of $ 0.2 million , not to exceed 10000 shares .these grants vest over three years from the date of grant .under the nonemployee directors program , an aggregate of 1.4 million shares of the company 2019s common stock has been authorized for issuance .the company has an employee stock purchase plan for united states employees and a plan for international employees ( collectively 2018 2018espp 2019 2019 ) .under the espp , eligible employees may purchase shares of the company 2019s common stock at 85% ( 85 % ) of the lower of the fair market value of edwards lifesciences common stock on the effective date of subscription or the date of purchase .under the espp , employees can authorize the company to withhold up to 12% ( 12 % ) of their compensation for common stock purchases , subject to certain limitations .the espp is available to all active employees of the company paid from the united states payroll and to eligible employees of the company outside the united states , to the extent permitted by local law .the espp for united states employees is qualified under section 423 of the internal revenue code .the number of shares of common stock authorized for issuance under the espp was 6.9 million shares .the fair value of each option award and employee stock purchase subscription is estimated on the date of grant using the black-scholes option valuation model that uses the assumptions noted in the following tables .the risk-free interest rate is estimated using the u.s .treasury yield curve and is based on the expected term of the award .expected volatility is estimated based on a blend of the weighted-average of the historical volatility of edwards lifesciences 2019 stock and the implied volatility from traded options on edwards lifesciences 2019 stock .the expected term of awards granted is estimated from the vesting period of the award , as well as historical exercise behavior , and represents the period of time that awards granted are expected to be outstanding .the company uses historical data to estimate forfeitures and has estimated an annual forfeiture rate of 5.4% ( 5.4 % ) .the black-scholes option pricing model was used with the following weighted-average assumptions for options granted during the following periods : option awards .
[['', '2014', '2013', '2012'], ['average risk-free interest rate', '1.5% ( 1.5 % )', '0.8% ( 0.8 % )', '0.7% ( 0.7 % )'], ['expected dividend yield', 'none', 'none', 'none'], ['expected volatility', '31% ( 31 % )', '31% ( 31 % )', '31% ( 31 % )'], ['expected life ( years )', '4.6', '4.6', '4.6'], ['fair value per share', '$ 23.50', '$ 19.47', '$ 23.93']]
.
|
what is the expected change according to the model in the fair value per share between 2012 and 2013?
|
-4.46
|
{
"answer": "-4.46",
"decimal": -4.46,
"type": "float"
}
| |
management 2019s discussion and analysis 114 jpmorgan chase & co./2017 annual report derivative contracts in the normal course of business , the firm uses derivative instruments predominantly for market-making activities .derivatives enable counterparties to manage exposures to fluctuations in interest rates , currencies and other markets .the firm also uses derivative instruments to manage its own credit and other market risk exposure .the nature of the counterparty and the settlement mechanism of the derivative affect the credit risk to which the firm is exposed .for otc derivatives the firm is exposed to the credit risk of the derivative counterparty .for exchange- traded derivatives ( 201cetd 201d ) , such as futures and options , and 201ccleared 201d over-the-counter ( 201cotc-cleared 201d ) derivatives , the firm is generally exposed to the credit risk of the relevant ccp .where possible , the firm seeks to mitigate its credit risk exposures arising from derivative transactions through the use of legally enforceable master netting arrangements and collateral agreements .for further discussion of derivative contracts , counterparties and settlement types , see note 5 .the following table summarizes the net derivative receivables for the periods presented .derivative receivables .
[['december 31 ( in millions )', '2017', '2016'], ['interest rate', '$ 24673', '$ 28302'], ['credit derivatives', '869', '1294'], ['foreign exchange', '16151', '23271'], ['equity', '7882', '4939'], ['commodity', '6948', '6272'], ['total net of cash collateral', '56523', '64078'], ['liquid securities and other cash collateral held against derivative receivables ( a )', '-16108 ( 16108 )', '-22705 ( 22705 )'], ['total net of all collateral', '$ 40415', '$ 41373']]
( a ) includes collateral related to derivative instruments where an appropriate legal opinion has not been either sought or obtained .derivative receivables reported on the consolidated balance sheets were $ 56.5 billion and $ 64.1 billion at december 31 , 2017 and 2016 , respectively .derivative receivables decreased predominantly as a result of client- driven market-making activities in cib markets , which reduced foreign exchange and interest rate derivative receivables , and increased equity derivative receivables , driven by market movements .derivative receivables amounts represent the fair value of the derivative contracts after giving effect to legally enforceable master netting agreements and cash collateral held by the firm .however , in management 2019s view , the appropriate measure of current credit risk should also take into consideration additional liquid securities ( primarily u.s .government and agency securities and other group of seven nations ( 201cg7 201d ) government bonds ) and other cash collateral held by the firm aggregating $ 16.1 billion and $ 22.7 billion at december 31 , 2017 and 2016 , respectively , that may be used as security when the fair value of the client 2019s exposure is in the firm 2019s favor .in addition to the collateral described in the preceding paragraph , the firm also holds additional collateral ( primarily cash , g7 government securities , other liquid government-agency and guaranteed securities , and corporate debt and equity securities ) delivered by clients at the initiation of transactions , as well as collateral related to contracts that have a non-daily call frequency and collateral that the firm has agreed to return but has not yet settled as of the reporting date .although this collateral does not reduce the balances and is not included in the table above , it is available as security against potential exposure that could arise should the fair value of the client 2019s derivative transactions move in the firm 2019s favor .the derivative receivables fair value , net of all collateral , also does not include other credit enhancements , such as letters of credit .for additional information on the firm 2019s use of collateral agreements , see note 5 .while useful as a current view of credit exposure , the net fair value of the derivative receivables does not capture the potential future variability of that credit exposure .to capture the potential future variability of credit exposure , the firm calculates , on a client-by-client basis , three measures of potential derivatives-related credit loss : peak , derivative risk equivalent ( 201cdre 201d ) , and average exposure ( 201cavg 201d ) .these measures all incorporate netting and collateral benefits , where applicable .peak represents a conservative measure of potential exposure to a counterparty calculated in a manner that is broadly equivalent to a 97.5% ( 97.5 % ) confidence level over the life of the transaction .peak is the primary measure used by the firm for setting of credit limits for derivative transactions , senior management reporting and derivatives exposure management .dre exposure is a measure that expresses the risk of derivative exposure on a basis intended to be equivalent to the risk of loan exposures .dre is a less extreme measure of potential credit loss than peak and is used for aggregating derivative credit risk exposures with loans and other credit risk .finally , avg is a measure of the expected fair value of the firm 2019s derivative receivables at future time periods , including the benefit of collateral .avg exposure over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit risk capital and the cva , as further described below .the three year avg exposure was $ 29.0 billion and $ 31.1 billion at december 31 , 2017 and 2016 , respectively , compared with derivative receivables , net of all collateral , of $ 40.4 billion and $ 41.4 billion at december 31 , 2017 and 2016 , respectively .the fair value of the firm 2019s derivative receivables incorporates cva to reflect the credit quality of counterparties .cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market .the firm believes that active risk management is essential to controlling the dynamic credit risk in the derivatives portfolio .in addition , the firm 2019s risk management process takes into consideration the potential .
|
in 2017 what was the percent of the total net of cash collateral that was foreign exchange
|
28.6%
|
{
"answer": "28.6%",
"decimal": 0.28600000000000003,
"type": "percentage"
}
| |
mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the company does not make any contributions to its postretirement plan other than funding benefits payments .the following table summarizes expected net benefit payments from the company 2019s general assets through 2019 : benefit payments expected subsidy receipts benefit payments .
[['', 'benefit payments', 'expected subsidy receipts', 'net benefit payments'], ['2010', '$ 2714', '$ 71', '$ 2643'], ['2011', '3028', '91', '2937'], ['2012', '3369', '111', '3258'], ['2013', '3660', '134', '3526'], ['2014', '4019', '151', '3868'], ['2015 2013 2019', '22686', '1071', '21615']]
the company provides limited postemployment benefits to eligible former u.s .employees , primarily severance under a formal severance plan ( the 201cseverance plan 201d ) .the company accounts for severance expense by accruing the expected cost of the severance benefits expected to be provided to former employees after employment over their relevant service periods .the company updates the assumptions in determining the severance accrual by evaluating the actual severance activity and long-term trends underlying the assumptions .as a result of updating the assumptions , the company recorded incremental severance expense ( benefit ) related to the severance plan of $ 3471 , $ 2643 and $ ( 3418 ) , respectively , during the years 2009 , 2008 and 2007 .these amounts were part of total severance expenses of $ 135113 , $ 32997 and $ 21284 in 2009 , 2008 and 2007 , respectively , included in general and administrative expenses in the accompanying consolidated statements of operations .note 14 .debt on april 28 , 2008 , the company extended its committed unsecured revolving credit facility , dated as of april 28 , 2006 ( the 201ccredit facility 201d ) , for an additional year .the new expiration date of the credit facility is april 26 , 2011 .the available funding under the credit facility will remain at $ 2500000 through april 27 , 2010 and then decrease to $ 2000000 during the final year of the credit facility agreement .other terms and conditions in the credit facility remain unchanged .the company 2019s option to request that each lender under the credit facility extend its commitment was provided pursuant to the original terms of the credit facility agreement .borrowings under the facility are available to provide liquidity in the event of one or more settlement failures by mastercard international customers and , subject to a limit of $ 500000 , for general corporate purposes .the facility fee and borrowing cost are contingent upon the company 2019s credit rating .at december 31 , 2009 , the facility fee was 7 basis points on the total commitment , or approximately $ 1774 annually .interest on borrowings under the credit facility would be charged at the london interbank offered rate ( libor ) plus an applicable margin of 28 basis points or an alternative base rate , and a utilization fee of 10 basis points would be charged if outstanding borrowings under the facility exceed 50% ( 50 % ) of commitments .at the inception of the credit facility , the company also agreed to pay upfront fees of $ 1250 and administrative fees of $ 325 , which are being amortized over five years .facility and other fees associated with the credit facility totaled $ 2222 , $ 2353 and $ 2477 for each of the years ended december 31 , 2009 , 2008 and 2007 , respectively .mastercard was in compliance with the covenants of the credit facility and had no borrowings under the credit facility at december 31 , 2009 or december 31 , 2008 .the majority of credit facility lenders are members or affiliates of members of mastercard international .in june 1998 , mastercard international issued ten-year unsecured , subordinated notes ( the 201cnotes 201d ) paying a fixed interest rate of 6.67% ( 6.67 % ) per annum .mastercard repaid the entire principal amount of $ 80000 on june 30 , 2008 pursuant to the terms of the notes .the interest expense on the notes was $ 2668 and $ 5336 for each of the years ended december 31 , 2008 and 2007 , respectively. .
|
what is the average yearly benefit payment for the years 2015-2019?
|
4537.2
|
{
"answer": "4537.2",
"decimal": 4537.2,
"type": "float"
}
|
it is the sum of all benefit payments for the years 2015-2019 divided by five ( the period ) .
|
as a result of the transaction , we recognized a net gain of approximately $ 1.3 billion , including $ 1.2 billion recognized in 2016 .the net gain represents the $ 2.5 billion fair value of the shares of lockheed martin common stock exchanged and retired as part of the exchange offer , plus the $ 1.8 billion one-time special cash payment , less the net book value of the is&gs business of about $ 3.0 billion at august 16 , 2016 and other adjustments of about $ 100 million .in 2017 , we recognized an additional gain of $ 73 million , which reflects certain post-closing adjustments , including certain tax adjustments and the final determination of net working capital .we classified the operating results of our former is&gs business as discontinued operations in our consolidated financial statements in accordance with u.s .gaap , as the divestiture of this business represented a strategic shift that had a major effect on our operations and financial results .however , the cash flows generated by the is&gs business have not been reclassified in our consolidated statements of cash flows as we retained this cash as part of the transaction .the operating results , prior to the august 16 , 2016 divestiture date , of the is&gs business that have been reflected within net earnings from discontinued operations for the year ended december 31 , 2016 are as follows ( in millions ) : .
[['net sales', '$ 3410'], ['cost of sales', '-2953 ( 2953 )'], ['severance charges', '-19 ( 19 )'], ['gross profit', '438'], ['other income net', '16'], ['operating profit', '454'], ['earnings from discontinued operations before income taxes', '454'], ['income tax expense', '-147 ( 147 )'], ['net gain on divestiture of discontinued operations', '1205'], ['net earnings from discontinued operations', '$ 1512']]
the operating results of the is&gs business reported as discontinued operations are different than the results previously reported for the is&gs business segment .results reported within net earnings from discontinued operations only include costs that were directly attributable to the is&gs business and exclude certain corporate overhead costs that were previously allocated to the is&gs business .as a result , we reclassified $ 82 million in 2016 of corporate overhead costs from the is&gs business to other unallocated , net on our consolidated statement of earnings .additionally , we retained all assets and obligations related to the pension benefits earned by former is&gs business salaried employees through the date of divestiture .therefore , the non-service portion of net pension costs ( e.g. , interest cost , actuarial gains and losses and expected return on plan assets ) for these plans have been reclassified from the operating results of the is&gs business segment and reported as a reduction to the fas/cas pension adjustment .these net pension costs were $ 54 million for the year ended december 31 , 2016 .the service portion of net pension costs related to is&gs business 2019s salaried employees that transferred to leidos were included in the operating results of the is&gs business classified as discontinued operations because such costs are no longer incurred by us .significant severance charges related to the is&gs business were historically recorded at the lockheed martin corporate office .these charges have been reclassified into the operating results of the is&gs business , classified as discontinued operations , and excluded from the operating results of our continuing operations .the amount of severance charges reclassified were $ 19 million in 2016 .financial information related to cash flows generated by the is&gs business , such as depreciation and amortization , capital expenditures , and other non-cash items , included in our consolidated statement of cash flows for the years ended december 31 , 2016 were not significant. .
|
what is the gross profit margin?
|
12.8%
|
{
"answer": "12.8%",
"decimal": 0.128,
"type": "percentage"
}
| |
the following table reports the significant movements in our shareholders 2019 equity for the year ended december 31 , 2010. .
[['( in millions of u.s . dollars )', '2010'], ['balance beginning of year', '$ 19667'], ['net income', '3108'], ['dividends declared on common shares', '-443 ( 443 )'], ['change in net unrealized appreciation ( depreciation ) on investments net of tax', '742'], ['repurchase of shares', '-303 ( 303 )'], ['other movements net of tax', '203'], ['balance end of year', '$ 22974']]
total shareholders 2019 equity increased $ 3.3 billion in 2010 , primarily due to net income of $ 3.1 billion and the change in net unrealized appreciation on investments of $ 742 million .short-term debt at december 31 , 2010 , in connection with the financing of the rain and hail acquisition , short-term debt includes reverse repurchase agreements totaling $ 1 billion .in addition , $ 300 million in borrowings against ace 2019s revolving credit facility were outstanding at december 31 , 2010 .at december 31 , 2009 , short-term debt consisted of a five-year term loan which we repaid in december 2010 .long-term debt our total long-term debt increased by $ 200 million during the year to $ 3.4 billion and is described in detail in note 9 to the consolidated financial statements , under item 8 .in november 2010 , ace ina issued $ 700 million of 2.6 percent senior notes due november 2015 .these senior unsecured notes are guaranteed on a senior basis by the company and they rank equally with all of the company 2019s other senior obligations .in april 2008 , as part of the financing of the combined insurance acquisition , ace ina entered into a $ 450 million float- ing interest rate syndicated term loan agreement due april 2013 .simultaneously , the company entered into a swap transaction that had the economic effect of fixing the interest rate for the term of the loan .in december 2010 , ace repaid this loan and exited the swap .in december 2008 , ace ina entered into a $ 66 million dual tranche floating interest rate term loan agreement .the first tranche , a $ 50 million three-year term loan due december 2011 , had a floating interest rate .simultaneously , the company entered into a swap transaction that had the economic effect of fixing the interest rate for the term of the loan .in december 2010 , ace repaid this loan and exited the swap .the second tranche , a $ 16 million nine-month term loan , was due and repaid in september 2009 .trust preferred securities the securities outstanding consist of $ 300 million of trust preferred securities due 2030 , issued by a special purpose entity ( a trust ) that is wholly owned by us .the sole assets of the special purpose entity are debt instruments issued by one or more of our subsidiaries .the special purpose entity looks to payments on the debt instruments to make payments on the preferred securities .we have guaranteed the payments on these debt instruments .the trustees of the trust include one or more of our officers and at least one independent trustee , such as a trust company .our officers serving as trustees of the trust do not receive any compensation or other remuneration for their services in such capacity .the full $ 309 million of outstanding trust preferred securities ( calculated as $ 300 million as discussed above plus our equity share of the trust ) is shown on our con- solidated balance sheet as a liability .additional information with respect to the trust preferred securities is contained in note 9 d ) to the consolidated financial statements , under item 8 .common shares our common shares had a par value of chf 30.57 each at december 31 , 2010 .at the annual general meeting held in may 2010 , the company 2019s shareholders approved a par value reduction in an aggregate swiss franc amount , pursuant to a formula , equal to $ 1.32 per share , which we refer to as the base annual divi- dend .the base annual dividend is payable in four installments , provided that each of the swiss franc installments will be .
|
what was the percent of the change in the shareholders 2019 equity in 2010
|
1.68
|
{
"answer": "1.68",
"decimal": 1.68,
"type": "float"
}
| |
valuation techniques 2013 cash equivalents are mostly comprised of short-term money-market instruments and are valued at cost , which approximates fair value .u.s .equity securities and international equity securities categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year .for u.s .equity securities and international equity securities not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker , or investment manager .these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor or categorized as level 3 if the custodian obtains uncorroborated quotes from a broker or investment manager .commingled equity funds are public investment vehicles valued using the net asset value ( nav ) provided by the fund manager .the nav is the total value of the fund divided by the number of shares outstanding .commingled equity funds are categorized as level 1 if traded at their nav on a nationally recognized securities exchange or categorized as level 2 if the nav is corroborated by observable market data ( e.g. , purchases or sales activity ) .fixed income securities categorized as level 2 are valued by the trustee using pricing models that use verifiable observable market data ( e.g .interest rates and yield curves observable at commonly quoted intervals ) , bids provided by brokers or dealers , or quoted prices of securities with similar characteristics .private equity funds , real estate funds , hedge funds , and fixed income securities categorized as level 3 are valued based on valuation models that include significant unobservable inputs and cannot be corroborated using verifiable observable market data .valuations for private equity funds and real estate funds are determined by the general partners , while hedge funds are valued by independent administrators .depending on the nature of the assets , the general partners or independent administrators use both the income and market approaches in their models .the market approach consists of analyzing market transactions for comparable assets while the income approach uses earnings or the net present value of estimated future cash flows adjusted for liquidity and other risk factors .commodities categorized as level 1 are traded on an active commodity exchange and are valued at their closing prices on the last trading day of the year .commodities categorized as level 2 represent shares in a commingled commodity fund valued using the nav , which is corroborated by observable market data .contributions and expected benefit payments we generally determine funding requirements for our defined benefit pension plans in a manner consistent with cas and internal revenue code rules .in 2012 , we made contributions of $ 3.6 billion related to our qualified defined benefit pension plans .we plan to make contributions of approximately $ 1.5 billion related to the qualified defined benefit pension plans in 2013 .in 2012 , we made contributions of $ 235 million related to our retiree medical and life insurance plans .we expect no required contributions related to the retiree medical and life insurance plans in 2013 .the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2012 ( in millions ) : .
[['', '2013', '2014', '2015', '2016', '2017', '2018 - 2022'], ['qualified defined benefit pension plans', '$ 1900', '$ 1970', '$ 2050', '$ 2130', '$ 2220', '$ 12880'], ['retiree medical and life insurance plans', '200', '210', '220', '220', '220', '1080']]
defined contribution plans we maintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees .under the provisions of our 401 ( k ) plans , we match most employees 2019 eligible contributions at rates specified in the plan documents .our contributions were $ 380 million in 2012 , $ 378 million in 2011 , and $ 379 million in 2010 , the majority of which were funded in our common stock .our defined contribution plans held approximately 48.6 million and 52.1 million shares of our common stock as of december 31 , 2012 and 2011. .
|
what is the ratio of the 2012 contribution to the anticipated employee contributions in 2013
|
2.4
|
{
"answer": "2.4",
"decimal": 2.4,
"type": "float"
}
| |
cash payments for federal , state , and foreign income taxes were $ 238.3 million , $ 189.5 million , and $ 90.7 million for the years ended december 31 , 2015 , 2014 , and 2013 , respectively .the following table summarizes the changes related to pca 2019s gross unrecognized tax benefits excluding interest and penalties ( dollars in millions ) : .
[['', '2015', '2014', '2013'], ['balance as of january 1', '$ -4.4 ( 4.4 )', '$ -5.4 ( 5.4 )', '$ -111.3 ( 111.3 )'], ['increase related to acquisition of boise inc . ( a )', '2014', '2014', '-65.2 ( 65.2 )'], ['increases related to prior years 2019 tax positions', '-2.8 ( 2.8 )', '-1.0 ( 1.0 )', '-0.1 ( 0.1 )'], ['increases related to current year tax positions', '-0.4 ( 0.4 )', '-0.3 ( 0.3 )', '-1.5 ( 1.5 )'], ["decreases related to prior years' tax positions ( b )", '2014', '0.9', '64.8'], ['settlements with taxing authorities ( c )', '0.7', '0.5', '106.2'], ['expiration of the statute of limitations', '1.1', '0.9', '1.7'], ['balance at december 31', '$ -5.8 ( 5.8 )', '$ -4.4 ( 4.4 )', '$ -5.4 ( 5.4 )']]
( a ) in 2013 , pca acquired $ 65.2 million of gross unrecognized tax benefits from boise inc .that related primarily to the taxability of the alternative energy tax credits .( b ) the 2013 amount includes a $ 64.3 million gross decrease related to the taxability of the alternative energy tax credits claimed in 2009 excise tax returns by boise inc .for further discussion regarding these credits , see note 7 , alternative energy tax credits .( c ) the 2013 amount includes a $ 104.7 million gross decrease related to the conclusion of the internal revenue service audit of pca 2019s alternative energy tax credits .for further discussion regarding these credits , see note 7 , alternative energy tax credits .at december 31 , 2015 , pca had recorded a $ 5.8 million gross reserve for unrecognized tax benefits , excluding interest and penalties .of the total , $ 4.2 million ( net of the federal benefit for state taxes ) would impact the effective tax rate if recognized .pca recognizes interest accrued related to unrecognized tax benefits and penalties as income tax expense .at december 31 , 2015 and 2014 , we had an insignificant amount of interest and penalties recorded for unrecognized tax benefits included in the table above .pca does not expect the unrecognized tax benefits to change significantly over the next 12 months .pca is subject to taxation in the united states and various state and foreign jurisdictions .a federal examination of the tax years 2010 2014 2012 was concluded in february 2015 .a federal examination of the 2013 tax year began in october 2015 .the tax years 2014 2014 2015 remain open to federal examination .the tax years 2011 2014 2015 remain open to state examinations .some foreign tax jurisdictions are open to examination for the 2008 tax year forward .through the boise acquisition , pca recorded net operating losses and credit carryforwards from 2008 through 2011 and 2013 that are subject to examinations and adjustments for at least three years following the year in which utilized .7 .alternative energy tax credits the company generates black liquor as a by-product of its pulp manufacturing process , which entitled it to certain federal income tax credits .when black liquor is mixed with diesel , it is considered an alternative fuel that was eligible for a $ 0.50 per gallon refundable alternative energy tax credit for gallons produced before december 31 , 2009 .black liquor was also eligible for a $ 1.01 per gallon taxable cellulosic biofuel producer credit for gallons of black liquor produced and used in 2009 .in 2013 , we reversed $ 166.0 million of a reserve for unrecognized tax benefits for alternative energy tax credits as a benefit to income taxes .approximately $ 103.9 million ( $ 102.0 million of tax , net of the federal benefit for state taxes , plus $ 1.9 million of accrued interest ) of the reversal is due to the completion of the irs .
|
what was the difference in millions of cash payments for federal , state , and foreign income taxes between 2014 and 2015?
|
48.8
|
{
"answer": "48.8",
"decimal": 48.8,
"type": "float"
}
| |
management 2019s discussion and analysis 110 jpmorgan chase & co ./ 2008 annual report the allowance for credit losses increased $ 13.7 billion from the prior year to $ 23.8 billion .the increase included $ 4.1 billion of allowance related to noncredit-impaired loans acquired in the washington mutual transaction and the related accounting conformity provision .excluding held-for-sale loans , loans carried at fair value , and pur- chased credit-impaired consumer loans , the allowance for loan losses represented 3.62% ( 3.62 % ) of loans at december 31 , 2008 , compared with 1.88% ( 1.88 % ) at december 31 , 2007 .the consumer allowance for loan losses increased $ 10.5 billion from the prior year as a result of the washington mutual transaction and increased allowance for loan loss in residential real estate and credit card .the increase included additions to the allowance for loan losses of $ 4.7 billion driven by higher estimated losses for residential mort- gage and home equity loans as the weak labor market and weak overall economic conditions have resulted in increased delinquencies , while continued weak housing prices have driven a significant increase in loss severity .the allowance for loan losses related to credit card increased $ 4.3 billion from the prior year primarily due to the acquired allowance and subsequent conforming provision for loan loss related to the washington mutual bank acquisition and an increase in provision for loan losses of $ 2.3 billion in 2008 over 2007 , as higher estimated net charge-offs are expected in the port- folio resulting from the current economic conditions .the wholesale allowance for loan losses increase of $ 3.4 billion from december 31 , 2007 , reflected the effect of a weakening credit envi- ronment and the transfer of $ 4.9 billion of funded and unfunded leveraged lending commitments to retained loans from held-for-sale .to provide for the risk of loss inherent in the firm 2019s process of extending credit , an allowance for lending-related commitments is held for both wholesale and consumer , which is reported in other lia- bilities .the wholesale component is computed using a methodology similar to that used for the wholesale loan portfolio , modified for expected maturities and probabilities of drawdown and has an asset- specific component and a formula-based component .for a further discussion on the allowance for lending-related commitment see note 15 on pages 178 2013180 of this annual report .the allowance for lending-related commitments for both wholesale and consumer was $ 659 million and $ 850 million at december 31 , 2008 and 2007 , respectively .the decrease reflects the reduction in lending-related commitments at december 31 , 2008 .for more information , see page 102 of this annual report .the following table presents the allowance for loan losses and net charge-offs ( recoveries ) by business segment at december 31 , 2008 and 2007 .net charge-offs ( recoveries ) december 31 , allowance for loan losses year ended .
[['december 31 , ( in millions )', 'december 31 , 2008', 'december 31 , 2007', '2008', '2007'], ['investment bank', '$ 3444', '$ 1329', '$ 105', '$ 36'], ['commercial banking', '2826', '1695', '288', '44'], ['treasury & securities services', '74', '18', '-2 ( 2 )', '2014'], ['asset management', '191', '112', '11', '-8 ( 8 )'], ['corporate/private equity', '10', '2014', '2014', '2014'], ['total wholesale', '6545', '3154', '402', '72'], ['retail financial services', '8918', '2668', '4877', '1350'], ['card services', '7692', '3407', '4556', '3116'], ['corporate/private equity', '9', '5', '2014', '2014'], ['total consumer 2013 reported', '16619', '6080', '9433', '4466'], ['credit card 2013 securitized', '2014', '2014', '3612', '2380'], ['total consumer 2013 managed', '16619', '6080', '13045', '6846'], ['total', '$ 23164', '$ 9234', '$ 13477', '$ 6918']]
.
|
what was the percentage change in net charge-offs relating to commercial banking between 2007 and 2008?
|
67%
|
{
"answer": "67%",
"decimal": 0.67,
"type": "percentage"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) basis step-up from corporate restructuring represents the tax effects of increasing the basis for tax purposes of certain of the company 2019s assets in conjunction with its spin-off from american radio systems corporation , its former parent company .at december 31 , 2003 , the company had net federal and state operating loss carryforwards available to reduce future taxable income of approximately $ 0.9 billion and $ 1.5 billion , respectively .if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : .
[['years ended december 31,', 'federal', 'state'], ['2004 to 2008', '$ 1451', '$ 483578'], ['2009 to 2013', '12234', '66666'], ['2014 to 2018', '10191', '235589'], ['2019 to 2023', '903010', '728139'], ['total', '$ 926886', '$ 1513972']]
sfas no .109 , 201caccounting for income taxes , 201d requires that companies record a valuation allowance when it is 201cmore likely than not that some portion or all of the deferred tax assets will not be realized . 201d at december 31 , 2003 , the company has provided a valuation allowance of approximately $ 156.7 million , primarily related to net state deferred tax assets , capital loss carryforwards and the lost tax benefit and costs associated with our tax refund claims .the company has not provided a valuation allowance for the remaining net deferred tax assets , primarily its tax refund claims and federal net operating loss carryforwards , as management believes the company will be successful with its tax refund claims and have sufficient time to realize these federal net operating loss carryforwards during the twenty-year tax carryforward period .the company intends to recover a portion of its deferred tax asset through its tax refund claims , related to certain federal net operating losses , filed during 2003 as part of a tax planning strategy implemented in 2002 .the recoverability of its remaining net deferred tax asset has been assessed utilizing stable state ( no growth ) projections based on its current operations .the projections show a significant decrease in depreciation and interest expense in the later years of the carryforward period as a result of a significant portion of its assets being fully depreciated during the first fifteen years of the carryforward period and debt repayments reducing interest expense .accordingly , the recoverability of the net deferred tax asset is not dependent on material improvements to operations , material asset sales or other non-routine transactions .based on its current outlook of future taxable income during the carryforward period , management believes that the net deferred tax asset will be realized .the realization of the company 2019s deferred tax assets will be dependent upon its ability to generate approximately $ 1.0 billion in taxable income from january 1 , 2004 to december 31 , 2023 .if the company is unable to generate sufficient taxable income in the future , or carry back losses as described above , it will be required to reduce its net deferred tax asset through a charge to income tax expense , which would result in a corresponding decrease in stockholders 2019 equity .depending on the resolution of the verestar bankruptcy proceedings described in note 2 , the company may be entitled to a worthless stock or bad debt deduction for its investment in verestar .no income tax benefit has been provided for these potential deductions due to the uncertainty surrounding the bankruptcy proceedings .13 .stockholders 2019 equity preferred stock as of december 31 , 2003 the company was authorized to issue up to 20.0 million shares of $ .01 par value preferred stock .as of december 31 , 2003 and 2002 there were no preferred shares issued or outstanding. .
|
what portion of the state operating loss carryforwards expires between 2004 and 2008?
|
31.9%
|
{
"answer": "31.9%",
"decimal": 0.319,
"type": "percentage"
}
| |
an average of 7.1 in 2000 .the top 100 largest clients used an average of 11.3 products in 2001 , up from an average of 11.2 in 2000 .state street benefits significantly from its ability to derive revenue from the transaction flows of clients .this occurs through the management of cash positions , including deposit balances and other short-term investment activities , using state street 2019s balance sheet capacity .significant foreign currency transaction volumes provide potential for foreign exchange trading revenue as well .fee revenue total operating fee revenuewas $ 2.8 billion in 2001 , compared to $ 2.7 billion in 2000 , an increase of 6% ( 6 % ) .adjusted for the formation of citistreet , the growth in fee revenue was 8% ( 8 % ) .growth in servicing fees of $ 199million , or 14% ( 14 % ) , was the primary contributor to the increase in fee revenue .this growth primarily reflects several large client wins installed starting in the latter half of 2000 and continuing throughout 2001 , and strength in fee revenue from securities lending .declines in equity market values worldwide offset some of the growth in servicing fees .management fees were down 5% ( 5 % ) , adjusted for the formation of citistreet , reflecting the decline in theworldwide equitymarkets .foreign exchange trading revenue was down 5% ( 5 % ) , reflecting lower currency volatility , and processing fees and other revenue was up 21% ( 21 % ) , primarily due to gains on the sales of investment securities .servicing and management fees are a function of several factors , including the mix and volume of assets under custody and assets under management , securities positions held , and portfolio transactions , as well as types of products and services used by clients .state street estimates , based on a study conducted in 2000 , that a 10% ( 10 % ) increase or decrease in worldwide equity values would cause a corresponding change in state street 2019s total revenue of approximately 2% ( 2 % ) .if bond values were to increase or decrease by 10% ( 10 % ) , state street would anticipate a corresponding change of approximately 1% ( 1 % ) in its total revenue .securities lending revenue in 2001 increased approximately 40% ( 40 % ) over 2000 .securities lending revenue is reflected in both servicing fees and management fees .securities lending revenue is a function of the volume of securities lent and interest rate spreads .while volumes increased in 2001 , the year-over-year increase is primarily due to wider interest rate spreads resulting from the unusual occurrence of eleven reductions in the u.s .federal funds target rate during 2001 .f e e r e v e n u e ( dollars in millions ) 2001 ( 1 ) 2000 1999 ( 2 ) change adjusted change 00-01 ( 3 ) .
[['( dollars in millions )', '2001 ( 1 )', '2000', '1999 ( 2 )', 'change 00-01', 'adjusted change 00-01 ( 3 )'], ['servicing fees', '$ 1624', '$ 1425', '$ 1170', '14% ( 14 % )', '14% ( 14 % )'], ['management fees', '511', '581', '600', '-12 ( 12 )', '-5 ( 5 )'], ['foreign exchange trading', '368', '387', '306', '-5 ( 5 )', '-5 ( 5 )'], ['processing fees and other', '329', '272', '236', '21', '21'], ['total fee revenue', '$ 2832', '$ 2665', '$ 2312', '6', '8']]
( 1 ) 2001 results exclude the write-off of state street 2019s total investment in bridge of $ 50 million ( 2 ) 1999 results exclude the one-time charge of $ 57 million related to the repositioning of the investment portfolio ( 3 ) 2000 results adjusted for the formation of citistreet 4 state street corporation .
|
what is the growth rate in total fee revenue in 2001?
|
6.3%
|
{
"answer": "6.3%",
"decimal": 0.063,
"type": "percentage"
}
| |
marathon oil corporation notes to consolidated financial statements the changes in the carrying amount of goodwill for the years ended december 31 , 2007 , and 2008 , were as follows : ( in millions ) e&p osm rm&t total .
[['( in millions )', 'e&p', 'osm', 'rm&t', 'total'], ['balance as of december 31 2006', '$ 519', '$ 2013', '$ 879', '$ 1398'], ['acquired', '71', '1437', '2013', '1508'], ['adjusted ( a )', '2013', '2013', '-7 ( 7 )', '-7 ( 7 )'], ['balance as of december 31 2007', '590', '1437', '872', '2899'], ['adjusted ( a )', '-17 ( 17 )', '-25 ( 25 )', '7', '-35 ( 35 )'], ['impaired', '2013', '-1412 ( 1412 )', '2013', '-1412 ( 1412 )'], ['disposed ( b )', '-5 ( 5 )', '', '2013', '-5 ( 5 )'], ['balance as of december 31 2008', '$ 568', '$ 2013', '$ 879', '$ 1447']]
( a ) adjustments related to prior period income tax and royalty adjustments .( b ) goodwill was allocated to the norwegian outside-operated properties sold in 2008 .17 .fair value measurements as defined in sfas no .157 , fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date .sfas no .157 describes three approaches to measuring the fair value of assets and liabilities : the market approach , the income approach and the cost approach , each of which includes multiple valuation techniques .the market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities .the income approach uses valuation techniques to measure fair value by converting future amounts , such as cash flows or earnings , into a single present value amount using current market expectations about those future amounts .the cost approach is based on the amount that would currently be required to replace the service capacity of an asset .this is often referred to as current replacement cost .the cost approach assumes that the fair value would not exceed what it would cost a market participant to acquire or construct a substitute asset of comparable utility , adjusted for obsolescence .sfas no .157 does not prescribe which valuation technique should be used when measuring fair value and does not prioritize among the techniques .sfas no .157 establishes a fair value hierarchy that prioritizes the inputs used in applying the various valuation techniques .inputs broadly refer to the assumptions that market participants use to make pricing decisions , including assumptions about risk .level 1 inputs are given the highest priority in the fair value hierarchy while level 3 inputs are given the lowest priority .the three levels of the fair value hierarchy are as follows .2022 level 1 2013 observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets as of the reporting date .active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis .2022 level 2 2013 observable market-based inputs or unobservable inputs that are corroborated by market data .these are inputs other than quoted prices in active markets included in level 1 , which are either directly or indirectly observable as of the reporting date .2022 level 3 2013 unobservable inputs that are not corroborated by market data and may be used with internally developed methodologies that result in management 2019s best estimate of fair value .we use a market or income approach for recurring fair value measurements and endeavor to use the best information available .accordingly , valuation techniques that maximize the use of observable inputs are favored .financial assets and liabilities are classified in their entirety based on the lowest priority level of input that is significant to the fair value measurement .the assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement of assets and liabilities within the levels of the fair value hierarchy. .
|
what percentage of end of the year 2008 total goodwill does rm&t consist of?
|
60.7%
|
{
"answer": "60.7%",
"decimal": 0.607,
"type": "percentage"
}
| |
the company recognizes the effect of income tax positions only if sustaining those positions is more likely than not .changes in recognition or measurement are reflected in the period in which a change in judgment occurs .the company records penalties and interest related to unrecognized tax benefits in income taxes in the company 2019s consolidated statements of income .changes in accounting principles business combinations and noncontrolling interests on january 1 , 2009 , the company adopted revised principles related to business combinations and noncontrolling interests .the revised principle on business combinations applies to all transactions or other events in which an entity obtains control over one or more businesses .it requires an acquirer to recognize the assets acquired , the liabilities assumed , and any noncontrolling interest in the acquiree at the acquisition date , measured at their fair values as of that date .business combinations achieved in stages require recognition of the identifiable assets and liabilities , as well as the noncontrolling interest in the acquiree , at the full amounts of their fair values when control is obtained .this revision also changes the requirements for recognizing assets acquired and liabilities assumed arising from contingencies , and requires direct acquisition costs to be expensed .in addition , it provides certain changes to income tax accounting for business combinations which apply to both new and previously existing business combinations .in april 2009 , additional guidance was issued which revised certain business combination guidance related to accounting for contingent liabilities assumed in a business combination .the company has adopted this guidance in conjunction with the adoption of the revised principles related to business combinations .the adoption of the revised principles related to business combinations has not had a material impact on the consolidated financial statements .the revised principle related to noncontrolling interests establishes accounting and reporting standards for the noncontrolling interests in a subsidiary and for the deconsolidation of a subsidiary .the revised principle clarifies that a noncontrolling interest in a subsidiary is an ownership interest in the consolidated entity that should be reported as a separate component of equity in the consolidated statements of financial position .the revised principle requires retrospective adjustments , for all periods presented , of stockholders 2019 equity and net income for noncontrolling interests .in addition to these financial reporting changes , the revised principle provides for significant changes in accounting related to changes in ownership of noncontrolling interests .changes in aon 2019s controlling financial interests in consolidated subsidiaries that do not result in a loss of control are accounted for as equity transactions similar to treasury stock transactions .if a change in ownership of a consolidated subsidiary results in a loss of control and deconsolidation , any retained ownership interests are remeasured at fair value with the gain or loss reported in net income .in previous periods , noncontrolling interests for operating subsidiaries were reported in other general expenses in the consolidated statements of income .prior period amounts have been restated to conform to the current year 2019s presentation .the principal effect on the prior years 2019 balance sheets related to the adoption of the new guidance related to noncontrolling interests is summarized as follows ( in millions ) : .
[['as of december 31', '2008', '2007'], ['equity as previously reported', '$ 5310', '$ 6221'], ['increase for reclassification of non-controlling interests', '105', '40'], ['equity as adjusted', '$ 5415', '$ 6261']]
the revised principle also requires that net income be adjusted to include the net income attributable to the noncontrolling interests and a new separate caption for net income attributable to aon stockholders be presented in the consolidated statements of income .the adoption of this new guidance increased net income by $ 16 million and $ 13 million for 2008 and 2007 , respectively .net .
|
what is the average equity as adjusted?
|
5838
|
{
"answer": "5838",
"decimal": 5838,
"type": "float"
}
|
it is the sum of both values of equity as adjusted divided by two .
|
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 2 f o r m 1 0 - k notes to consolidated financial statements ( continued ) rating as of december 31 , 2002 met such requirement .fair value commitments under the credit facility are subject to certain the carrying value of the company 2019s borrowings approxi- fees , including a facility and a utilization fee .mates fair value due to their short-term maturities and uncommitted credit facilities variable interest rates .the company has a $ 26 million uncommitted unsecured 8 .derivative financial instruments revolving line of credit .the purpose of this credit line is to support the working capital needs , letters of credit and the company is exposed to market risk due to changes overdraft needs for the company .the uncommitted credit in currency exchange rates .as a result , the company utilizes agreement contains customary affirmative and negative cove- foreign exchange forward contracts to offset the effect of nants and events of default , none of which are considered exchange rate fluctuations on anticipated foreign currency restrictive to the operation of the business .in addition , this transactions , primarily intercompany sales and purchases uncommitted credit agreement provides for unconditional expected to occur within the next twelve to twenty-four and irrevocable guarantees by the company .in the event the months .the company does not hold financial instruments company 2019s long-term debt ratings by both standard and for trading or speculative purposes .for derivatives which poor 2019s ratings services and moody 2019s investor 2019s service , inc. , qualify as hedges of future cash flows , the effective portion fall below bb- and ba3 , then the company may be required of changes in fair value is temporarily recorded in other to repay all outstanding and contingent obligations .the comprehensive income , then recognized in earnings when company 2019s credit rating as of december 31 , 2002 met such the hedged item affects earnings .the ineffective portion of requirement .this uncommitted credit line matures on a derivative 2019s change in fair value , if any , is reported in july 31 , 2003 .outstanding borrowings under this uncommit- earnings .the net amount recognized in earnings during the ted line of credit as of december 31 , 2002 were $ 0.5 million years ended december 31 , 2002 and 2001 , due to ineffective- with a weighted average interest rate of 6.35 percent .ness and amounts excluded from the assessment of hedge the company also has a $ 15 million uncommitted effectiveness , was not significant .revolving unsecured line of credit .the purpose of this line of the notional amounts of outstanding foreign exchange credit is to support short-term working capital needs of the forward contracts , principally japanese yen and the euro , company .the agreement for this uncommitted unsecured entered into with third parties , at december 31 , 2002 , was line of credit contains customary covenants , none of which $ 252 million .the fair value of derivative instruments recorded are considered restrictive to the operation of the business .in accrued liabilities at december 31 , 2002 , was $ 13.8 million , this uncommitted line matures on july 31 , 2003 .there were or $ 8.5 million net of taxes , which is deferred in other no borrowings under this uncommitted line of credit as of comprehensive income and is expected to be reclassified to december 31 , 2002 .earnings over the next two years , of which , $ 7.7 million , or the company has a $ 20 million uncommitted revolving $ 4.8 million , net of taxes , is expected to be reclassified to unsecured line of credit .the purpose of this line of credit is earnings over the next twelve months .to support short-term working capital needs of the company .the pricing is based upon money market rates .the agree- 9 .capital stock and earnings per share ment for this uncommitted unsecured line of credit contains as discussed in note 14 , all of the shares of company customary covenants , none of which are considered restrictive common stock were distributed at the distribution by the to the operation of the business .this uncommitted line former parent to its stockholders in the form of a dividend matures on july 31 , 2003 .there were no borrowings under of one share of company common stock , and the associated this uncommitted line of credit as of december 31 , 2002 .preferred stock purchase right , for every ten shares of the company was in compliance with all covenants common stock of the former parent .in july 2001 the board under all three of the uncommitted credit facilities as of of directors of the company adopted a rights agreement december 31 , 2002 .the company had no long-term debt intended to have anti-takeover effects .under this agreement as of december 31 , 2002 .one right attaches to each share of company common stock .outstanding debt as of december 31 , 2002 and 2001 , the rights will not become exercisable until the earlier of : consist of the following ( in millions ) : a ) the company learns that a person or group acquired , or 2002 2001 obtained the right to acquire , beneficial ownership of securi- credit facility $ 156.2 $ 358.2 ties representing more than 20 percent of the shares of uncommitted credit facilities 0.5 5.7 company common stock then outstanding , or b ) such date , if any , as may be designated by the board of directorstotal debt $ 156.7 $ 363.9 following the commencement of , or first public disclosure of the company paid $ 13.0 million and $ 4.6 million in an intention to commence , a tender offer or exchange offer interest charges during 2002 and 2001 , respectively. .
[['', '2002', '2001'], ['credit facility', '$ 156.2', '$ 358.2'], ['uncommitted credit facilities', '0.5', '5.7'], ['total debt', '$ 156.7', '$ 363.9']]
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 2 f o r m 1 0 - k notes to consolidated financial statements ( continued ) rating as of december 31 , 2002 met such requirement .fair value commitments under the credit facility are subject to certain the carrying value of the company 2019s borrowings approxi- fees , including a facility and a utilization fee .mates fair value due to their short-term maturities and uncommitted credit facilities variable interest rates .the company has a $ 26 million uncommitted unsecured 8 .derivative financial instruments revolving line of credit .the purpose of this credit line is to support the working capital needs , letters of credit and the company is exposed to market risk due to changes overdraft needs for the company .the uncommitted credit in currency exchange rates .as a result , the company utilizes agreement contains customary affirmative and negative cove- foreign exchange forward contracts to offset the effect of nants and events of default , none of which are considered exchange rate fluctuations on anticipated foreign currency restrictive to the operation of the business .in addition , this transactions , primarily intercompany sales and purchases uncommitted credit agreement provides for unconditional expected to occur within the next twelve to twenty-four and irrevocable guarantees by the company .in the event the months .the company does not hold financial instruments company 2019s long-term debt ratings by both standard and for trading or speculative purposes .for derivatives which poor 2019s ratings services and moody 2019s investor 2019s service , inc. , qualify as hedges of future cash flows , the effective portion fall below bb- and ba3 , then the company may be required of changes in fair value is temporarily recorded in other to repay all outstanding and contingent obligations .the comprehensive income , then recognized in earnings when company 2019s credit rating as of december 31 , 2002 met such the hedged item affects earnings .the ineffective portion of requirement .this uncommitted credit line matures on a derivative 2019s change in fair value , if any , is reported in july 31 , 2003 .outstanding borrowings under this uncommit- earnings .the net amount recognized in earnings during the ted line of credit as of december 31 , 2002 were $ 0.5 million years ended december 31 , 2002 and 2001 , due to ineffective- with a weighted average interest rate of 6.35 percent .ness and amounts excluded from the assessment of hedge the company also has a $ 15 million uncommitted effectiveness , was not significant .revolving unsecured line of credit .the purpose of this line of the notional amounts of outstanding foreign exchange credit is to support short-term working capital needs of the forward contracts , principally japanese yen and the euro , company .the agreement for this uncommitted unsecured entered into with third parties , at december 31 , 2002 , was line of credit contains customary covenants , none of which $ 252 million .the fair value of derivative instruments recorded are considered restrictive to the operation of the business .in accrued liabilities at december 31 , 2002 , was $ 13.8 million , this uncommitted line matures on july 31 , 2003 .there were or $ 8.5 million net of taxes , which is deferred in other no borrowings under this uncommitted line of credit as of comprehensive income and is expected to be reclassified to december 31 , 2002 .earnings over the next two years , of which , $ 7.7 million , or the company has a $ 20 million uncommitted revolving $ 4.8 million , net of taxes , is expected to be reclassified to unsecured line of credit .the purpose of this line of credit is earnings over the next twelve months .to support short-term working capital needs of the company .the pricing is based upon money market rates .the agree- 9 .capital stock and earnings per share ment for this uncommitted unsecured line of credit contains as discussed in note 14 , all of the shares of company customary covenants , none of which are considered restrictive common stock were distributed at the distribution by the to the operation of the business .this uncommitted line former parent to its stockholders in the form of a dividend matures on july 31 , 2003 .there were no borrowings under of one share of company common stock , and the associated this uncommitted line of credit as of december 31 , 2002 .preferred stock purchase right , for every ten shares of the company was in compliance with all covenants common stock of the former parent .in july 2001 the board under all three of the uncommitted credit facilities as of of directors of the company adopted a rights agreement december 31 , 2002 .the company had no long-term debt intended to have anti-takeover effects .under this agreement as of december 31 , 2002 .one right attaches to each share of company common stock .outstanding debt as of december 31 , 2002 and 2001 , the rights will not become exercisable until the earlier of : consist of the following ( in millions ) : a ) the company learns that a person or group acquired , or 2002 2001 obtained the right to acquire , beneficial ownership of securi- credit facility $ 156.2 $ 358.2 ties representing more than 20 percent of the shares of uncommitted credit facilities 0.5 5.7 company common stock then outstanding , or b ) such date , if any , as may be designated by the board of directorstotal debt $ 156.7 $ 363.9 following the commencement of , or first public disclosure of the company paid $ 13.0 million and $ 4.6 million in an intention to commence , a tender offer or exchange offer interest charges during 2002 and 2001 , respectively. .
|
what was the net change in millions of total debt from 2001 to 2002?
|
-207.2
|
{
"answer": "-207.2",
"decimal": -207.2,
"type": "float"
}
| |
the relative percentages of operating companies income ( loss ) attributable to each reportable segment and the all other category were as follows: .
[['', '2016', '2015', '2014'], ['smokeable products', '86.2% ( 86.2 % )', '87.4% ( 87.4 % )', '87.2% ( 87.2 % )'], ['smokeless products', '13.1', '12.8', '13.4'], ['wine', '1.8', '1.8', '1.7'], ['all other', '-1.1 ( 1.1 )', '-2.0 ( 2.0 )', '-2.3 ( 2.3 )'], ['total', '100.0% ( 100.0 % )', '100.0% ( 100.0 % )', '100.0% ( 100.0 % )']]
for items affecting the comparability of the relative percentages of operating companies income ( loss ) attributable to each reportable segment , see note 16 .narrative description of business portions of the information called for by this item are included in operating results by business segment in item 7 .management 2019s discussion and analysis of financial condition and results of operations of this annual report on form 10-k ( 201citem 7 201d ) .tobacco space altria group , inc . 2019s tobacco operating companies include pm usa , usstc and other subsidiaries of ust , middleton , nu mark and nat sherman .altria group distribution company provides sales , distribution and consumer engagement services to altria group , inc . 2019s tobacco operating companies .the products of altria group , inc . 2019s tobacco subsidiaries include smokeable tobacco products , consisting of cigarettes manufactured and sold by pm usa and nat sherman , machine- made large cigars and pipe tobacco manufactured and sold by middleton and premium cigars sold by nat sherman ; smokeless tobacco products manufactured and sold by usstc ; and innovative tobacco products , including e-vapor products manufactured and sold by nu mark .cigarettes : pm usa is the largest cigarette company in the united states , with total cigarette shipment volume in the united states of approximately 122.9 billion units in 2016 , a decrease of 2.5% ( 2.5 % ) from 2015 .marlboro , the principal cigarette brand of pm usa , has been the largest-selling cigarette brand in the united states for over 40 years .nat sherman sells substantially all of its super-premium cigarettes in the united states .cigars : middleton is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco to customers , substantially all of which are located in the united states .middleton sources a portion of its cigars from an importer through a third-party contract manufacturing arrangement .total shipment volume for cigars was approximately 1.4 billion units in 2016 , an increase of 5.9% ( 5.9 % ) from 2015 .black & mild is the principal cigar brand of middleton .nat sherman sources its premium cigars from importers through third-party contract manufacturing arrangements and sells substantially all of its cigars in the united states .smokeless tobacco products : usstc is the leading producer and marketer of moist smokeless tobacco ( 201cmst 201d ) products .the smokeless products segment includes the premium brands , copenhagen and skoal , and value brands , red seal and husky .substantially all of the smokeless tobacco products are manufactured and sold to customers in the united states .total smokeless products shipment volume was 853.5 million units in 2016 , an increase of 4.9% ( 4.9 % ) from 2015 .innovative tobacco products : nu mark participates in the e-vapor category and has developed and commercialized other innovative tobacco products .in addition , nu mark sources the production of its e-vapor products through overseas contract manufacturing arrangements .in 2013 , nu mark introduced markten e-vapor products .in april 2014 , nu mark acquired the e-vapor business of green smoke , inc .and its affiliates ( 201cgreen smoke 201d ) , which began selling e-vapor products in 2009 .for a further discussion of the acquisition of green smoke , see note 3 .acquisition of green smoke to the consolidated financial statements in item 8 ( 201cnote 3 201d ) .in december 2013 , altria group , inc . 2019s subsidiaries entered into a series of agreements with philip morris international inc .( 201cpmi 201d ) pursuant to which altria group , inc . 2019s subsidiaries provide an exclusive license to pmi to sell nu mark 2019s e-vapor products outside the united states , and pmi 2019s subsidiaries provide an exclusive license to altria group , inc . 2019s subsidiaries to sell two of pmi 2019s heated tobacco product platforms in the united states .further , in july 2015 , altria group , inc .announced the expansion of its strategic framework with pmi to include a joint research , development and technology-sharing agreement .under this agreement , altria group , inc . 2019s subsidiaries and pmi will collaborate to develop e-vapor products for commercialization in the united states by altria group , inc . 2019s subsidiaries and in markets outside the united states by pmi .this agreement also provides for exclusive technology cross licenses , technical information sharing and cooperation on scientific assessment , regulatory engagement and approval related to e-vapor products .in the fourth quarter of 2016 , pmi submitted a modified risk tobacco product ( 201cmrtp 201d ) application for an electronically heated tobacco product with the united states food and drug administration 2019s ( 201cfda 201d ) center for tobacco products and announced that it plans to file its corresponding pre-market tobacco product application during the first quarter of 2017 .the fda must determine whether to accept the applications for substantive review .upon regulatory authorization by the fda , altria group , inc . 2019s subsidiaries will have an exclusive license to sell this heated tobacco product in the united states .distribution , competition and raw materials : altria group , inc . 2019s tobacco subsidiaries sell their tobacco products principally to wholesalers ( including distributors ) , large retail organizations , including chain stores , and the armed services .the market for tobacco products is highly competitive , characterized by brand recognition and loyalty , with product quality , taste , price , product innovation , marketing , packaging and distribution constituting the significant methods of competition .promotional activities include , in certain instances and where .
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what would total smokeless products shipment volume be in 2017 with the same growth rate as 2016 , in billions?
|
805.3
|
{
"answer": "805.3",
"decimal": 805.3,
"type": "float"
}
| |
entergy corporation and subsidiaries management's financial discussion and analysis other income ( deductions ) changed from $ 47.6 million in 2002 to ( $ 36.0 million ) in 2003 primarily due to a decrease in "miscellaneous - net" as a result of a $ 107.7 million accrual in the second quarter of 2003 for the loss that would be associated with a final , non-appealable decision disallowing abeyed river bend plant costs .see note 2 to the consolidated financial statements for more details regarding the river bend abeyed plant costs .the decrease was partially offset by an increase in interest and dividend income as a result of the implementation of sfas 143 .interest on long-term debt decreased from $ 462.0 million in 2002 to $ 433.5 million in 2003 primarily due to the redemption and refinancing of long-term debt .non-utility nuclear following are key performance measures for non-utility nuclear: .
[['', '2004', '2003', '2002'], ['net mw in operation at december 31', '4058', '4001', '3955'], ['average realized price per mwh', '$ 41.26', '$ 39.38', '$ 40.07'], ['generation in gwh for the year', '32524', '32379', '29953'], ['capacity factor for the year', '92% ( 92 % )', '92% ( 92 % )', '93% ( 93 % )']]
2004 compared to 2003 the decrease in earnings for non-utility nuclear from $ 300.8 million to $ 245.0 million was primarily due to the $ 154.5 million net-of-tax cumulative effect of a change in accounting principle that increased earnings in the first quarter of 2003 upon implementation of sfas 143 .see "critical accounting estimates - sfas 143" below for discussion of the implementation of sfas 143 .earnings before the cumulative effect of accounting change increased by $ 98.7 million primarily due to the following : 2022 lower operation and maintenance expenses , which decreased from $ 681.8 million in 2003 to $ 595.7 million in 2004 , primarily resulting from charges recorded in 2003 in connection with the voluntary severance program ; 2022 higher revenues , which increased from $ 1.275 billion in 2003 to $ 1.342 billion in 2004 , primarily resulting from higher contract pricing .the addition of a support services contract for the cooper nuclear station and increased generation in 2004 due to power uprates completed in 2003 and fewer planned and unplanned outages in 2004 also contributed to the higher revenues ; and 2022 miscellaneous income resulting from a reduction in the decommissioning liability for a plant , as discussed in note 8 to the consolidated financial statements .partially offsetting this increase were the following : 2022 higher income taxes , which increased from $ 88.6 million in 2003 to $ 142.6 million in 2004 ; and 2022 higher depreciation expense , which increased from $ 34.3 million in 2003 to $ 48.9 million in 2004 , due to additions to plant in service .2003 compared to 2002 the increase in earnings for non-utility nuclear from $ 200.5 million to $ 300.8 million was primarily due to the $ 154.5 million net-of-tax cumulative effect of a change in accounting principle recognized in the first quarter of 2003 upon implementation of sfas 143 .see "critical accounting estimates - sfas 143" below for discussion of the implementation of sfas 143 .income before the cumulative effect of accounting change decreased by $ 54.2 million .the decrease was primarily due to $ 83.0 million ( $ 50.6 million net-of-tax ) of charges recorded in connection with the voluntary severance program .except for the effect of the voluntary severance program , operation and maintenance expenses in 2003 per mwh of generation were in line with 2002 operation and maintenance expenses. .
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what is the growth rate in generated gwh per year in 2004 compare to 2003?
|
0.4%
|
{
"answer": "0.4%",
"decimal": 0.004,
"type": "percentage"
}
|
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