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item 12 .security ownership of certain beneficial owners and management and related stockholder matters .the information required by item 12 is included under the heading 201csecurity ownership of management and certain beneficial owners 201d in the 2017 proxy statement , and that information is incorporated by reference in this form 10-k .equity compensation plan information the following table provides information about our equity compensation plans that authorize the issuance of shares of lockheed martin common stock to employees and directors .the information is provided as of december 31 , 2016 .plan category number of securities to be issued exercise of outstanding options , warrants and rights weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ( 1 ) 5802673 $ 85.82 6216471 equity compensation plans not approved by security holders ( 2 ) 1082347 2014 2481032 .
[['plan category', 'number of securities to beissued upon exercise of outstanding options warrants and rights ( a )', 'weighted-average exercise price of outstanding options warrants and rights ( b )', 'number of securities remaining availablefor future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )'], ['equity compensation plans approved by securityholders ( 1 )', '5802673', '$ 85.82', '6216471'], ['equity compensation plans not approved bysecurity holders ( 2 )', '1082347', '2014', '2481032'], ['total', '6885020', '$ 85.82', '8697503']]
( 1 ) column ( a ) includes , as of december 31 , 2016 : 1747151 shares that have been granted as restricted stock units ( rsus ) , 936308 shares that could be earned pursuant to grants of performance stock units ( psus ) ( assuming the maximum number of psus are earned and payable at the end of the three-year performance period ) and 2967046 shares granted as options under the lockheed martin corporation 2011 incentive performance award plan ( 2011 ipa plan ) or predecessor plans prior to january 1 , 2013 and 23346 shares granted as options and 128822 stock units payable in stock or cash under the lockheed martin corporation 2009 directors equity plan ( directors equity plan ) or predecessor plans for members ( or former members ) of the board of directors .column ( c ) includes , as of december 31 , 2016 , 5751655 shares available for future issuance under the 2011 ipa plan as options , stock appreciation rights ( sars ) , restricted stock awards ( rsas ) , rsus or psus and 464816 shares available for future issuance under the directors equity plan as stock options and stock units .of the 5751655 shares available for grant under the 2011 ipa plan on december 31 , 2016 , 516653 and 236654 shares are issuable pursuant to grants made on january 26 , 2017 , of rsus and psus ( assuming the maximum number of psus are earned and payable at the end of the three-year performance period ) , respectively .the weighted average price does not take into account shares issued pursuant to rsus or psus .( 2 ) the shares represent annual incentive bonuses and long-term incentive performance ( ltip ) payments earned and voluntarily deferred by employees .the deferred amounts are payable under the deferred management incentive compensation plan ( dmicp ) .deferred amounts are credited as phantom stock units at the closing price of our stock on the date the deferral is effective .amounts equal to our dividend are credited as stock units at the time we pay a dividend .following termination of employment , a number of shares of stock equal to the number of stock units credited to the employee 2019s dmicp account are distributed to the employee .there is no discount or value transfer on the stock distributed .distributions may be made from newly issued shares or shares purchased on the open market .historically , all distributions have come from shares held in a separate trust and , therefore , do not further dilute our common shares outstanding .as a result , these shares also were not considered in calculating the total weighted average exercise price in the table .because the dmicp shares are outstanding , they should be included in the denominator ( and not the numerator ) of a dilution calculation .item 13 .certain relationships and related transactions and director independence .the information required by this item 13 is included under the captions 201ccorporate governance 2013 related person transaction policy , 201d 201ccorporate governance 2013 certain relationships and related person transactions of directors , executive officers , and 5 percent stockholders , 201d and 201ccorporate governance 2013 director independence 201d in the 2017 proxy statement , and that information is incorporated by reference in this form 10-k .item 14 .principal accountant fees and services .the information required by this item 14 is included under the caption 201cproposal 2 2013 ratification of appointment of independent auditors 201d in the 2017 proxy statement , and that information is incorporated by reference in this form 10-k. .
|
what portion of the total number of issues securities is approved by the security holders?
|
84.3%
|
{
"answer": "84.3%",
"decimal": 0.843,
"type": "percentage"
}
| |
35% ( 35 % ) due primarily to certain undistributed foreign earnings for which no u.s .taxes are provided because such earnings are intended to be indefinitely reinvested outside the u.s .as of september 24 , 2011 , the company had deferred tax assets arising from deductible temporary differences , tax losses , and tax credits of $ 3.2 billion , and deferred tax liabilities of $ 9.2 billion .management believes it is more likely than not that forecasted income , including income that may be generated as a result of certain tax planning strategies , together with future reversals of existing taxable temporary differences , will be sufficient to fully recover the deferred tax assets .the company will continue to evaluate the realizability of deferred tax assets quarterly by assessing the need for and amount of a valuation allowance .the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments .the company has contested certain of these adjustments through the irs appeals office .the irs is currently examining the years 2007 through 2009 .all irs audit issues for years prior to 2004 have been resolved .in addition , the company is subject to audits by state , local , and foreign tax authorities .management believes that adequate provisions have been made for any adjustments that may result from tax examinations .however , the outcome of tax audits cannot be predicted with certainty .if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income taxes in the period such resolution occurs .liquidity and capital resources the following table presents selected financial information and statistics as of and for the three years ended september 24 , 2011 ( in millions ) : .
[['', '2011', '2010', '2009'], ['cash cash equivalents and marketable securities', '$ 81570', '$ 51011', '$ 33992'], ['accounts receivable net', '$ 5369', '$ 5510', '$ 3361'], ['inventories', '$ 776', '$ 1051', '$ 455'], ['working capital', '$ 17018', '$ 20956', '$ 20049'], ['annual operating cash flow', '$ 37529', '$ 18595', '$ 10159']]
cash , cash equivalents and marketable securities increased $ 30.6 billion or 60% ( 60 % ) during 2011 .the principal components of this net increase was the cash generated by operating activities of $ 37.5 billion , which was partially offset by payments for acquisition of property , plant and equipment of $ 4.3 billion , payments for acquisition of intangible assets of $ 3.2 billion and payments made in connection with business acquisitions , net of cash acquired , of $ 244 million .the company believes its existing balances of cash , cash equivalents and marketable securities will be sufficient to satisfy its working capital needs , capital asset purchases , outstanding commitments and other liquidity requirements associated with its existing operations over the next 12 months .the company 2019s marketable securities investment portfolio is invested primarily in highly rated securities and its policy generally limits the amount of credit exposure to any one issuer .the company 2019s investment policy requires investments to generally be investment grade with the objective of minimizing the potential risk of principal loss .as of september 24 , 2011 and september 25 , 2010 , $ 54.3 billion and $ 30.8 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s .dollar-denominated holdings .amounts held by foreign subsidiaries are generally subject to u.s .income taxation on repatriation to the u.s .capital assets the company 2019s capital expenditures were $ 4.6 billion during 2011 , consisting of approximately $ 614 million for retail store facilities and $ 4.0 billion for other capital expenditures , including product tooling and manufacturing .
|
what is the percentage change in annual operating cash flow from 2009 to 2010?
|
83%
|
{
"answer": "83%",
"decimal": 0.83,
"type": "percentage"
}
| |
supplementary information on oil and gas producing activities ( unaudited ) c o n t i n u e d summary of changes in standardized measure of discounted future net cash flows relating to proved oil and gas reserves ( in millions ) 2006 2005 2004 sales and transfers of oil and gas produced , net of production , transportation and administrative costs $ ( 5312 ) $ ( 3754 ) $ ( 2689 ) net changes in prices and production , transportation and administrative costs related to future production ( 1342 ) 6648 771 .
[['( in millions )', '2006', '2005', '2004'], ['sales and transfers of oil and gas produced net of production transportation and administrative costs', '$ -5312 ( 5312 )', '$ -3754 ( 3754 )', '$ -2689 ( 2689 )'], ['net changes in prices and production transportation and administrative costs related to future production', '-1342 ( 1342 )', '6648', '771'], ['extensions discoveries and improved recovery less related costs', '1290', '700', '1349'], ['development costs incurred during the period', '1251', '1030', '609'], ['changes in estimated future development costs', '-527 ( 527 )', '-552 ( 552 )', '-628 ( 628 )'], ['revisions of previous quantity estimates', '1319', '820', '948'], ['net changes in purchases and sales of minerals in place', '30', '4557', '33'], ['accretion of discount', '1882', '1124', '757'], ['net change in income taxes', '-660 ( 660 )', '-6694 ( 6694 )', '-627 ( 627 )'], ['timing and other', '-14 ( 14 )', '307', '97'], ['net change for the year', '-2083 ( 2083 )', '4186', '620'], ['beginning of year', '10601', '6415', '5795'], ['end of year', '$ 8518', '$ 10601', '$ 6415'], ['net change for the year from discontinued operations', '$ -216 ( 216 )', '$ 162', '$ -152 ( 152 )']]
.
|
what was the average upward revisions of cash flow of previous quantity estimates during the three year period , in millions?
|
1029
|
{
"answer": "1029",
"decimal": 1029,
"type": "float"
}
| |
discount rate 2014the assumed discount rate is used to determine the current retirement related benefit plan expense and obligations , and represents the interest rate that is used to determine the present value of future cash flows currently expected to be required to effectively settle a plan 2019s benefit obligations .the discount rate assumption is determined for each plan by constructing a portfolio of high quality bonds with cash flows that match the estimated outflows for future benefit payments to determine a single equivalent discount rate .benefit payments are not only contingent on the terms of a plan , but also on the underlying participant demographics , including current age , and assumed mortality .we use only bonds that are denominated in u.s .dollars , rated aa or better by two of three nationally recognized statistical rating agencies , have a minimum outstanding issue of $ 50 million as of the measurement date , and are not callable , convertible , or index linked .since bond yields are generally unavailable beyond 30 years , we assume those rates will remain constant beyond that point .taking into consideration the factors noted above , our weighted average discount rate for pensions was 5.23% ( 5.23 % ) and 5.84% ( 5.84 % ) , as of december 31 , 2011 and 2010 , respectively .our weighted average discount rate for other postretirement benefits was 4.94% ( 4.94 % ) and 5.58% ( 5.58 % ) as of december 31 , 2011 and 2010 , respectively .expected long-term rate of return 2014the expected long-term rate of return on assets is used to calculate net periodic expense , and is based on such factors as historical returns , targeted asset allocations , investment policy , duration , expected future long-term performance of individual asset classes , inflation trends , portfolio volatility , and risk management strategies .while studies are helpful in understanding current trends and performance , the assumption is based more on longer term and prospective views .in order to reflect expected lower future market returns , we have reduced the expected long-term rate of return assumption from 8.50% ( 8.50 % ) , used to record 2011 expense , to 8.00% ( 8.00 % ) for 2012 .the decrease in the expected return on assets assumption is primarily related to lower bond yields and updated return assumptions for equities .unless plan assets and benefit obligations are subject to remeasurement during the year , the expected return on pension assets is based on the fair value of plan assets at the beginning of the year .an increase or decrease of 25 basis points in the discount rate and the expected long-term rate of return assumptions would have had the following approximate impacts on pensions : ( $ in millions ) increase ( decrease ) in 2012 expense increase ( decrease ) in december 31 , 2011 obligations .
[['( $ in millions )', 'increase ( decrease ) in 2012 expense', 'increase ( decrease ) in december 31 2011 obligations'], ['25 basis point decrease in discount rate', '$ 18', '$ 146'], ['25 basis point increase in discount rate', '-17 ( 17 )', '-154 ( 154 )'], ['25 basis point decrease in expected return on assets', '8', 'n.a .'], ['25 basis point increase in expected return on assets', '-8 ( 8 )', 'n.a .']]
differences arising from actual experience or changes in assumptions might materially affect retirement related benefit plan obligations and the funded status .actuarial gains and losses arising from differences from actual experience or changes in assumptions are deferred in accumulated other comprehensive income .this unrecognized amount is amortized to the extent it exceeds 10% ( 10 % ) of the greater of the plan 2019s benefit obligation or plan assets .the amortization period for actuarial gains and losses is the estimated average remaining service life of the plan participants , which is approximately 10 years .cas expense 2014in addition to providing the methodology for calculating retirement related benefit plan costs , cas also prescribes the method for assigning those costs to specific periods .while the ultimate liability for such costs under fas and cas is similar , the pattern of cost recognition is different .the key drivers of cas pension expense include the funded status and the method used to calculate cas reimbursement for each of our plans as well as our expected long-term rate of return on assets assumption .unlike fas , cas requires the discount rate to be consistent with the expected long-term rate of return on assets assumption , which changes infrequently given its long-term nature .as a result , changes in bond or other interest rates generally do not impact cas .in addition , unlike under fas , we can only allocate pension costs for a plan under cas until such plan is fully funded as determined under erisa requirements .other fas and cas considerations 2014we update our estimates of future fas and cas costs at least annually based on factors such as calendar year actual plan asset returns , final census data from the end of the prior year , and other actual and projected experience .a key driver of the difference between fas and cas expense ( and consequently , the fas/cas adjustment ) is the pattern of earnings and expense recognition for gains and losses that arise when our asset and liability experiences differ from our assumptions under each set of requirements .under fas , our net gains and losses exceeding the 10% ( 10 % ) corridor are amortized .
|
what was the ratio of the 25 basis point decrease in discount rate to the expected return on assets expense in 2012
|
2.25
|
{
"answer": "2.25",
"decimal": 2.25,
"type": "float"
}
|
the rate of the 25 basis point decrease in discount rate in 2012 to the 25 basis point decrease in expected return on assets was 2.25 to 1
|
discount rate 2014the assumed discount rate is used to determine the current retirement related benefit plan expense and obligations , and represents the interest rate that is used to determine the present value of future cash flows currently expected to be required to effectively settle a plan 2019s benefit obligations .the discount rate assumption is determined for each plan by constructing a portfolio of high quality bonds with cash flows that match the estimated outflows for future benefit payments to determine a single equivalent discount rate .benefit payments are not only contingent on the terms of a plan , but also on the underlying participant demographics , including current age , and assumed mortality .we use only bonds that are denominated in u.s .dollars , rated aa or better by two of three nationally recognized statistical rating agencies , have a minimum outstanding issue of $ 50 million as of the measurement date , and are not callable , convertible , or index linked .since bond yields are generally unavailable beyond 30 years , we assume those rates will remain constant beyond that point .taking into consideration the factors noted above , our weighted average discount rate for pensions was 5.23% ( 5.23 % ) and 5.84% ( 5.84 % ) , as of december 31 , 2011 and 2010 , respectively .our weighted average discount rate for other postretirement benefits was 4.94% ( 4.94 % ) and 5.58% ( 5.58 % ) as of december 31 , 2011 and 2010 , respectively .expected long-term rate of return 2014the expected long-term rate of return on assets is used to calculate net periodic expense , and is based on such factors as historical returns , targeted asset allocations , investment policy , duration , expected future long-term performance of individual asset classes , inflation trends , portfolio volatility , and risk management strategies .while studies are helpful in understanding current trends and performance , the assumption is based more on longer term and prospective views .in order to reflect expected lower future market returns , we have reduced the expected long-term rate of return assumption from 8.50% ( 8.50 % ) , used to record 2011 expense , to 8.00% ( 8.00 % ) for 2012 .the decrease in the expected return on assets assumption is primarily related to lower bond yields and updated return assumptions for equities .unless plan assets and benefit obligations are subject to remeasurement during the year , the expected return on pension assets is based on the fair value of plan assets at the beginning of the year .an increase or decrease of 25 basis points in the discount rate and the expected long-term rate of return assumptions would have had the following approximate impacts on pensions : ( $ in millions ) increase ( decrease ) in 2012 expense increase ( decrease ) in december 31 , 2011 obligations .
[['( $ in millions )', 'increase ( decrease ) in 2012 expense', 'increase ( decrease ) in december 31 2011 obligations'], ['25 basis point decrease in discount rate', '$ 18', '$ 146'], ['25 basis point increase in discount rate', '-17 ( 17 )', '-154 ( 154 )'], ['25 basis point decrease in expected return on assets', '8', 'n.a .'], ['25 basis point increase in expected return on assets', '-8 ( 8 )', 'n.a .']]
differences arising from actual experience or changes in assumptions might materially affect retirement related benefit plan obligations and the funded status .actuarial gains and losses arising from differences from actual experience or changes in assumptions are deferred in accumulated other comprehensive income .this unrecognized amount is amortized to the extent it exceeds 10% ( 10 % ) of the greater of the plan 2019s benefit obligation or plan assets .the amortization period for actuarial gains and losses is the estimated average remaining service life of the plan participants , which is approximately 10 years .cas expense 2014in addition to providing the methodology for calculating retirement related benefit plan costs , cas also prescribes the method for assigning those costs to specific periods .while the ultimate liability for such costs under fas and cas is similar , the pattern of cost recognition is different .the key drivers of cas pension expense include the funded status and the method used to calculate cas reimbursement for each of our plans as well as our expected long-term rate of return on assets assumption .unlike fas , cas requires the discount rate to be consistent with the expected long-term rate of return on assets assumption , which changes infrequently given its long-term nature .as a result , changes in bond or other interest rates generally do not impact cas .in addition , unlike under fas , we can only allocate pension costs for a plan under cas until such plan is fully funded as determined under erisa requirements .other fas and cas considerations 2014we update our estimates of future fas and cas costs at least annually based on factors such as calendar year actual plan asset returns , final census data from the end of the prior year , and other actual and projected experience .a key driver of the difference between fas and cas expense ( and consequently , the fas/cas adjustment ) is the pattern of earnings and expense recognition for gains and losses that arise when our asset and liability experiences differ from our assumptions under each set of requirements .under fas , our net gains and losses exceeding the 10% ( 10 % ) corridor are amortized .
|
what was the net change in the 25 basis point decrease and increase in discount rate in 2012 in millions
|
1
|
{
"answer": "1",
"decimal": 1,
"type": "float"
}
|
the net change in 2012 was the sum of the increase and decrease in the 25 basis point discount rate
|
gain or loss on ownership change in map results from contributions to map of certain environmental capital expenditures and leased property acquisitions funded by marathon and ashland .in accordance with map 2019s limited liability company agreement , in certain instances , environmental capital expenditures and acquisitions of leased properties are funded by the original contributor of the assets , but no change in ownership interest may result from these contributions .an excess of ashland funded improvements over marathon funded improvements results in a net gain and an excess of marathon funded improvements over ashland funded improvements results in a net loss .cost of revenues increased by $ 5.822 billion in 2004 from 2003 and by $ 6.040 billion in 2003 from 2002 .the increases are primarily in the rm&t segment and result from higher acquisition costs for crude oil , refined products , refinery charge and blend feedstocks and increased manufacturing expenses .selling , general and administrative expenses increased by $ 105 million in 2004 from 2003 and by $ 97 million in 2003 from 2002 .the increase in 2004 was primarily due to increased stock-based compensation and higher costs associated with business transformation and outsourcing .our 2004 results were also impacted by start-up costs associated with the lng project in equatorial guinea and the increased cost of complying with governmental regulations .the increase in 2003 was primarily due to increased employee benefit expenses ( caused by increased pension expense resulting from changes in actuarial assumptions and a decrease in realized returns on plan assets ) and other employee related costs .additionally , during 2003 , we recorded a charge of $ 24 million related to organizational and business process changes .inventory market valuation reserve ( 2018 2018imv 2019 2019 ) is established to reduce the cost basis of inventories to current market value .generally , we will establish an imv reserve when crude oil prices fall below $ 22 per barrel .the 2002 results of operations include credits to income from operations of $ 71 million , reversing the imv reserve at december 31 , 2001 .net interest and other financial costs decreased by $ 25 million in 2004 from 2003 and by $ 82 million in 2003 from 2002 .the decrease in 2004 is primarily due to an increase in interest income .the decrease in 2003 is primarily due to an increase in capitalized interest related to increased long-term construction projects , the favorable effect of interest rate swaps , the favorable effect of a reduction in interest on tax deficiencies and increased interest income on investments .additionally , included in net interest and other financing costs are foreign currency gains of $ 9 million , $ 13 million and $ 8 million for 2004 , 2003 and 2002 .loss from early extinguishment of debt in 2002 was attributable to the retirement of $ 337 million aggregate principal amount of debt , resulting in a loss of $ 53 million .minority interest in income of map , which represents ashland 2019s 38 percent ownership interest , increased by $ 230 million in 2004 from 2003 and by $ 129 million in 2003 from 2002 .map income was higher in 2004 compared to 2003 and in 2003 compared to 2002 as discussed below in the rm&t segment .minority interest in loss of equatorial guinea lng holdings limited , which represents gepetrol 2019s 25 percent ownership interest , was $ 7 million in 2004 , primarily resulting from gepetrol 2019s share of start-up costs associated with the lng project in equatorial guinea .provision for income taxes increased by $ 143 million in 2004 from 2003 and by $ 215 million in 2003 from 2002 , primarily due to $ 388 million and $ 720 million increases in income before income taxes .the effective tax rate for 2004 was 36.6 percent compared to 36.6 percent and 42.1 percent for 2003 and 2002 .the higher rate in 2002 was due to the united kingdom enactment of a supplementary 10 percent tax on profits from the north sea oil and gas production , retroactively effective to april 17 , 2002 .in 2002 , we recognized a one-time noncash deferred tax adjustment of $ 61 million as a result of the rate increase .the following is an analysis of the effective tax rate for the periods presented: .
[['', '2004', '2003', '2002'], ['statutory tax rate', '35.0% ( 35.0 % )', '35.0% ( 35.0 % )', '35.0% ( 35.0 % )'], ['effects of foreign operations ( a )', '1.3', '-0.4 ( 0.4 )', '5.6'], ['state and local income taxes after federal income tax effects', '1.6', '2.2', '3.9'], ['other federal tax effects', '-1.3 ( 1.3 )', '-0.2 ( 0.2 )', '-2.4 ( 2.4 )'], ['effective tax rate', '36.6% ( 36.6 % )', '36.6% ( 36.6 % )', '42.1% ( 42.1 % )']]
( a ) the deferred tax effect related to the enactment of a supplemental tax in the u.k .increased the effective tax rate 7.0 percent in .
|
for the three year period , what were average state and local income taxes after federal income tax effects , in millions?
|
2.57
|
{
"answer": "2.57",
"decimal": 2.57,
"type": "float"
}
| |
cash and cash equivalents cash equivalents include highly-liquid investments with a maturity of three months or less when purchased .accounts receivable and allowance for doubtful accounts accounts receivable are carried at the invoiced amounts , less an allowance for doubtful accounts , and generally do not bear interest .the company estimates the balance of allowance for doubtful accounts by analyzing accounts receivable balances by age and applying historical write-off and collection trend rates .the company 2019s estimates include separately providing for customer receivables based on specific circumstances and credit conditions , and when it is deemed probable that the balance is uncollectible .account balances are charged off against the allowance when it is determined the receivable will not be recovered .the company 2019s allowance for doubtful accounts balance also includes an allowance for the expected return of products shipped and credits related to pricing or quantities shipped of $ 14 million , $ 15 million and $ 14 million as of december 31 , 2016 , 2015 , and 2014 , respectively .returns and credit activity is recorded directly to sales as a reduction .the following table summarizes the activity in the allowance for doubtful accounts: .
[['( millions )', '2016', '2015', '2014'], ['beginning balance', '$ 75', '$ 77', '$ 81'], ['bad debt expense', '20', '26', '23'], ['write-offs', '-25 ( 25 )', '-22 ( 22 )', '-20 ( 20 )'], ['other ( a )', '-2 ( 2 )', '-6 ( 6 )', '-7 ( 7 )'], ['ending balance', '$ 68', '$ 75', '$ 77']]
( a ) other amounts are primarily the effects of changes in currency translations and the impact of allowance for returns and credits .inventory valuations inventories are valued at the lower of cost or market .certain u.s .inventory costs are determined on a last-in , first-out ( 201clifo 201d ) basis .lifo inventories represented 40% ( 40 % ) and 39% ( 39 % ) of consolidated inventories as of december 31 , 2016 and 2015 , respectively .lifo inventories include certain legacy nalco u.s .inventory acquired at fair value as part of the nalco merger .all other inventory costs are determined using either the average cost or first-in , first-out ( 201cfifo 201d ) methods .inventory values at fifo , as shown in note 5 , approximate replacement cost .during 2015 , the company improved and standardized estimates related to its inventory reserves and product costing , resulting in a net pre-tax charge of approximately $ 6 million .separately , the actions resulted in a charge of $ 20.6 million related to inventory reserve calculations , partially offset by a gain of $ 14.5 million related to the capitalization of certain cost components into inventory .during 2016 , the company took additional actions to improve and standardize estimates related to the capitalization of certain cost components into inventory , which resulted in a gain of $ 6.2 million .these items are reflected within special ( gains ) and charges , as discussed in note 3 .property , plant and equipment property , plant and equipment assets are stated at cost .merchandising and customer equipment consists principally of various dispensing systems for the company 2019s cleaning and sanitizing products , dishwashing machines and process control and monitoring equipment .certain dispensing systems capitalized by the company are accounted for on a mass asset basis , whereby equipment is capitalized and depreciated as a group and written off when fully depreciated .the company capitalizes both internal and external costs of development or purchase of computer software for internal use .costs incurred for data conversion , training and maintenance associated with capitalized software are expensed as incurred .expenditures for major renewals and improvements , which significantly extend the useful lives of existing plant and equipment , are capitalized and depreciated .expenditures for repairs and maintenance are charged to expense as incurred .upon retirement or disposition of plant and equipment , the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in income .depreciation is charged to operations using the straight-line method over the assets 2019 estimated useful lives ranging from 5 to 40 years for buildings and leasehold improvements , 3 to 20 years for machinery and equipment , 3 to 15 years for merchandising and customer equipment and 3 to 7 years for capitalized software .the straight-line method of depreciation reflects an appropriate allocation of the cost of the assets to earnings in proportion to the amount of economic benefits obtained by the company in each reporting period .depreciation expense was $ 561 million , $ 560 million and $ 558 million for 2016 , 2015 and 2014 , respectively. .
|
what is the net change in the balance of allowance for doubtful accounts during 2015?
|
-2
|
{
"answer": "-2",
"decimal": -2,
"type": "float"
}
| |
the goldman sachs group , inc .and subsidiaries notes to consolidated financial statements long-term debt instruments the aggregate contractual principal amount of long-term other secured financings for which the fair value option was elected exceeded the related fair value by $ 361 million and $ 362 million as of december 2016 and december 2015 , respectively .the aggregate contractual principal amount of unsecured long-term borrowings for which the fair value option was elected exceeded the related fair value by $ 1.56 billion and $ 1.12 billion as of december 2016 and december 2015 , respectively .the amounts above include both principal- and non-principal-protected long-term borrowings .impact of credit spreads on loans and lending commitments the estimated net gain attributable to changes in instrument-specific credit spreads on loans and lending commitments for which the fair value option was elected was $ 281 million for 2016 , $ 751 million for 2015 and $ 1.83 billion for 2014 , respectively .the firm generally calculates the fair value of loans and lending commitments for which the fair value option is elected by discounting future cash flows at a rate which incorporates the instrument-specific credit spreads .for floating-rate loans and lending commitments , substantially all changes in fair value are attributable to changes in instrument-specific credit spreads , whereas for fixed-rate loans and lending commitments , changes in fair value are also attributable to changes in interest rates .debt valuation adjustment the firm calculates the fair value of financial liabilities for which the fair value option is elected by discounting future cash flows at a rate which incorporates the firm 2019s credit spreads .the net dva on such financial liabilities was a loss of $ 844 million ( $ 544 million , net of tax ) for 2016 and was included in 201cdebt valuation adjustment 201d in the consolidated statements of comprehensive income .the gains/ ( losses ) reclassified to earnings from accumulated other comprehensive loss upon extinguishment of such financial liabilities were not material for 2016 .note 9 .loans receivable loans receivable is comprised of loans held for investment that are accounted for at amortized cost net of allowance for loan losses .interest on loans receivable is recognized over the life of the loan and is recorded on an accrual basis .the table below presents details about loans receivable. .
[['$ in millions', 'as of december 2016', 'as of december 2015'], ['corporate loans', '$ 24837', '$ 20740'], ['loans to private wealth management clients', '13828', '13961'], ['loans backed by commercial real estate', '4761', '5271'], ['loans backed by residential real estate', '3865', '2316'], ['other loans', '2890', '3533'], ['total loans receivable gross', '50181', '45821'], ['allowance for loan losses', '-509 ( 509 )', '-414 ( 414 )'], ['total loans receivable', '$ 49672', '$ 45407']]
as of december 2016 and december 2015 , the fair value of loans receivable was $ 49.80 billion and $ 45.19 billion , respectively .as of december 2016 , had these loans been carried at fair value and included in the fair value hierarchy , $ 28.40 billion and $ 21.40 billion would have been classified in level 2 and level 3 , respectively .as of december 2015 , had these loans been carried at fair value and included in the fair value hierarchy , $ 23.91 billion and $ 21.28 billion would have been classified in level 2 and level 3 , respectively .the firm also extends lending commitments that are held for investment and accounted for on an accrual basis .as of december 2016 and december 2015 , such lending commitments were $ 98.05 billion and $ 93.92 billion , respectively .substantially all of these commitments were extended to corporate borrowers and were primarily related to the firm 2019s relationship lending activities .the carrying value and the estimated fair value of such lending commitments were liabilities of $ 327 million and $ 2.55 billion , respectively , as of december 2016 , and $ 291 million and $ 3.32 billion , respectively , as of december 2015 .as of december 2016 , had these lending commitments been carried at fair value and included in the fair value hierarchy , $ 1.10 billion and $ 1.45 billion would have been classified in level 2 and level 3 , respectively .as of december 2015 , had these lending commitments been carried at fair value and included in the fair value hierarchy , $ 1.35 billion and $ 1.97 billion would have been classified in level 2 and level 3 , respectively .goldman sachs 2016 form 10-k 147 .
|
for december 2016 and december 2015 , what was total fair value of loans receivable in billions?
|
94.99
|
{
"answer": "94.99",
"decimal": 94.99,
"type": "float"
}
| |
management 2019s discussion and analysis institutional client services our institutional client services segment is comprised of : fixed income , currency and commodities client execution .includes client execution activities related to making markets in interest rate products , credit products , mortgages , currencies and commodities .we generate market-making revenues in these activities in three ways : 2030 in large , highly liquid markets ( such as markets for u.s .treasury bills or certain mortgage pass-through certificates ) , we execute a high volume of transactions for our clients for modest spreads and fees .2030 in less liquid markets ( such as mid-cap corporate bonds , growth market currencies or certain non-agency mortgage-backed securities ) , we execute transactions for our clients for spreads and fees that are generally somewhat larger .2030 we also structure and execute transactions involving customized or tailor-made products that address our clients 2019 risk exposures , investment objectives or other complex needs ( such as a jet fuel hedge for an airline ) .given the focus on the mortgage market , our mortgage activities are further described below .our activities in mortgages include commercial mortgage- related securities , loans and derivatives , residential mortgage-related securities , loans and derivatives ( including u.s .government agency-issued collateralized mortgage obligations , other prime , subprime and alt-a securities and loans ) , and other asset-backed securities , loans and derivatives .we buy , hold and sell long and short mortgage positions , primarily for market making for our clients .our inventory therefore changes based on client demands and is generally held for short-term periods .see notes 18 and 27 to the consolidated financial statements for information about exposure to mortgage repurchase requests , mortgage rescissions and mortgage-related litigation .equities .includes client execution activities related to making markets in equity products and commissions and fees from executing and clearing institutional client transactions on major stock , options and futures exchanges worldwide , as well as over-the-counter transactions .equities also includes our securities services business , which provides financing , securities lending and other prime brokerage services to institutional clients , including hedge funds , mutual funds , pension funds and foundations , and generates revenues primarily in the form of interest rate spreads or fees .the table below presents the operating results of our institutional client services segment. .
[['in millions', 'year ended december 2013', 'year ended december 2012', 'year ended december 2011'], ['fixed income currency and commodities client execution', '$ 8651', '$ 9914', '$ 9018'], ['equities client execution1', '2594', '3171', '3031'], ['commissions and fees', '3103', '3053', '3633'], ['securities services', '1373', '1986', '1598'], ['total equities', '7070', '8210', '8262'], ['total net revenues', '15721', '18124', '17280'], ['operating expenses', '11782', '12480', '12837'], ['pre-tax earnings', '$ 3939', '$ 5644', '$ 4443']]
1 .in april 2013 , we completed the sale of a majority stake in our americas reinsurance business and no longer consolidate this business .net revenues related to the americas reinsurance business were $ 317 million for 2013 , $ 1.08 billion for 2012 and $ 880 million for 2011 .see note 12 to the consolidated financial statements for further information about this sale .2013 versus 2012 .net revenues in institutional client services were $ 15.72 billion for 2013 , 13% ( 13 % ) lower than 2012 .net revenues in fixed income , currency and commodities client execution were $ 8.65 billion for 2013 , 13% ( 13 % ) lower than 2012 , reflecting significantly lower net revenues in interest rate products compared with a solid 2012 , and significantly lower net revenues in mortgages compared with a strong 2012 .the decrease in interest rate products and mortgages primarily reflected the impact of a more challenging environment and lower activity levels compared with 2012 .in addition , net revenues in currencies were slightly lower , while net revenues in credit products and commodities were essentially unchanged compared with 2012 .in december 2013 , we completed the sale of a majority stake in our european insurance business and recognized a gain of $ 211 million .50 goldman sachs 2013 annual report .
|
for 2013 , operating expenses were what percent of pre-tax earnings?
|
299%
|
{
"answer": "299%",
"decimal": 2.99,
"type": "percentage"
}
| |
from those currently anticipated and expressed in such forward-looking statements as a result of a number of factors , including those we discuss under 201crisk factors 201d and elsewhere in this form 10-k .you should read 201crisk factors 201d and 201cforward-looking statements . 201d executive overview general american water works company , inc .( herein referred to as 201camerican water 201d or the 201ccompany 201d ) is the largest investor-owned united states water and wastewater utility company , as measured both by operating revenues and population served .our approximately 6400 employees provide drinking water , wastewater and other water related services to an estimated 15 million people in 47 states and in one canadian province .our primary business involves the ownership of water and wastewater utilities that provide water and wastewater services to residential , commercial , industrial and other customers .our regulated businesses that provide these services are generally subject to economic regulation by state regulatory agencies in the states in which they operate .the federal government and the states also regulate environmental , health and safety and water quality matters .our regulated businesses provide services in 16 states and serve approximately 3.2 million customers based on the number of active service connections to our water and wastewater networks .we report the results of these businesses in our regulated businesses segment .we also provide services that are not subject to economic regulation by state regulatory agencies .we report the results of these businesses in our market-based operations segment .in 2014 , we continued the execution of our strategic goals .our commitment to growth through investment in our regulated infrastructure and expansion of our regulated customer base and our market-based operations , combined with operational excellence led to continued improvement in regulated operating efficiency , improved performance of our market-based operations , and enabled us to provide increased value to our customers and investors .during the year , we focused on growth , addressed regulatory lag , made more efficient use of capital and improved our regulated operation and maintenance ( 201co&m 201d ) efficiency ratio .2014 financial results for the year ended december 31 , 2014 , we continued to increase net income , while making significant capital investment in our infrastructure and implementing operational efficiency improvements to keep customer rates affordable .highlights of our 2014 operating results compared to 2013 and 2012 include: .
[['', '2014', '2013', '2012'], ['income from continuing operations', '$ 2.39', '$ 2.07', '$ 2.10'], ['income ( loss ) from discontinued operations net of tax', '$ -0.04 ( 0.04 )', '$ -0.01 ( 0.01 )', '$ -0.09 ( 0.09 )'], ['diluted earnings per share', '$ 2.35', '$ 2.06', '$ 2.01']]
continuing operations income from continuing operations included 4 cents per diluted share of costs resulting from the freedom industries chemical spill in west virginia in 2014 and included 14 cents per diluted share in 2013 related to a tender offer .earnings from continuing operations , adjusted for these two items , increased 10% ( 10 % ) , or 22 cents per share , mainly due to favorable operating results from our regulated businesses segment due to higher revenues and lower operating expenses , partially offset by higher depreciation expenses .also contributing to the overall increase in income from continuing operations was lower interest expense in 2014 compared to the same period in 2013. .
|
by how much did income from continuing operations increase from 2012 to 2014?
|
13.8%
|
{
"answer": "13.8%",
"decimal": 0.138,
"type": "percentage"
}
| |
equity compensation plan information the following table presents the equity securities available for issuance under our equity compensation plans as of december 31 , 2015 .equity compensation plan information plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights ( 2 ) number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1424356 $ 33.90 4281952 equity compensation plans not approved by security holders ( 3 ) 2014 2014 2014 .
[['plan category', 'number of securities to be issued upon exercise of outstanding options warrants and rights ( 1 ) ( a ) ( b )', 'weighted-average exercise price of outstanding optionswarrants and rights ( 2 )', 'number of securities remaining available for future issuance under equity compensation plans ( excluding securitiesreflected in column ( a ) ) ( c )'], ['equity compensation plans approved by security holders', '1424356', '$ 33.90', '4281952'], ['equity compensation plans not approved by security holders ( 3 )', '2014', '2014', '2014'], ['total', '1424356', '$ 33.90', '4281952']]
( 1 ) includes grants made under the huntington ingalls industries , inc .2012 long-term incentive stock plan ( the "2012 plan" ) , which was approved by our stockholders on may 2 , 2012 , and the huntington ingalls industries , inc .2011 long-term incentive stock plan ( the "2011 plan" ) , which was approved by the sole stockholder of hii prior to its spin-off from northrop grumman corporation .of these shares , 533397 were subject to stock options and 54191 were stock rights granted under the 2011 plan .in addition , this number includes 35553 stock rights , 10279 restricted stock rights , and 790936 restricted performance stock rights granted under the 2012 plan , assuming target performance achievement .( 2 ) this is the weighted average exercise price of the 533397 outstanding stock options only .( 3 ) there are no awards made under plans not approved by security holders .item 13 .certain relationships and related transactions , and director independence information as to certain relationships and related transactions and director independence will be incorporated herein by reference to the proxy statement for our 2016 annual meeting of stockholders , to be filed within 120 days after the end of the company 2019s fiscal year .item 14 .principal accountant fees and services information as to principal accountant fees and services will be incorporated herein by reference to the proxy statement for our 2016 annual meeting of stockholders , to be filed within 120 days after the end of the company 2019s fiscal year. .
|
what portion of the equity compensation plans approved by security holders remains available for future issuance?
|
75.0%
|
{
"answer": "75.0%",
"decimal": 0.75,
"type": "percentage"
}
| |
currencies of major industrial countries .we may also enter into foreign currency option contracts to hedge anticipated transactions where there is a high probability that anticipated exposures will materialize .the foreign currency forward contracts entered into to hedge antici- pated transactions have been designated as foreign currency cash-flow hedges and have varying maturities through the end of march 2015 .hedge effectiveness of foreign currency forward contracts is based on a hypo- thetical derivative methodology and excludes the portion of fair value attributable to the spot-forward difference which is recorded in current-period earnings .hedge effectiveness of foreign currency option contracts is based on a dollar offset methodology .the ineffective portion of both foreign currency forward and option con- tracts is recorded in current-period earnings .for hedge contracts that are no longer deemed highly effective , hedge accounting is discontinued and gains and losses accumulated in other comprehensive income ( loss ) are reclassified to earnings when the underlying forecasted transaction occurs .if it is probable that the forecasted transaction will no longer occur , then any gains or losses in accumulated other comprehensive income ( loss ) are reclassified to current-period earnings .as of june 30 , 2013 , these foreign currency cash-flow hedges were highly effective in all material respects .at june 30 , 2013 , we had foreign currency forward contracts in the amount of $ 1579.6 million .the foreign currencies included in foreign currency forward contracts ( notional value stated in u.s .dollars ) are principally the british pound ( $ 426.2 million ) , euro ( $ 268.8 million ) , canadian dollar ( $ 198.6 million ) , swiss franc ( $ 111.5 mil- lion ) , australian dollar ( $ 92.1 million ) , thailand baht ( $ 75.5 million ) and hong kong dollar ( $ 58.1 million ) .credit risk as a matter of policy , we only enter into derivative con- tracts with counterparties that have a long-term credit rat- ing of at least a- or higher by at least two nationally recognized rating agencies .the counterparties to these contracts are major financial institutions .exposure to credit risk in the event of nonperformance by any of the counterparties is limited to the gross fair value of con- tracts in asset positions , which totaled $ 21.7 million at june 30 , 2013 .to manage this risk , we have established counterparty credit guidelines that are continually moni- tored .accordingly , management believes risk of loss under these hedging contracts is remote .certain of our derivative financial instruments contain credit-risk-related contingent features .at june 30 , 2013 , we were in a net asset position for certain derivative contracts that contain such features with two counter- parties .the fair value of those contracts as of june 30 , 2013 was approximately $ 4.6 million .as of june 30 , 2013 , we were in compliance with such credit-risk-related contingent features .market risk we use a value-at-risk model to assess the market risk of our derivative financial instruments .value-at-risk repre- sents the potential losses for an instrument or portfolio from adverse changes in market factors for a specified time period and confidence level .we estimate value-at- risk across all of our derivative financial instruments using a model with historical volatilities and correlations calcu- lated over the past 250-day period .the high , low and average measured value-at-risk during fiscal 2013 related to our foreign exchange contracts is as follows: .
[['( in millions )', 'year ended june 30 2013 high', 'year ended june 30 2013 low', 'year ended june 30 2013 average'], ['foreign exchange contracts', '$ 24.5', '$ 19.1', '$ 21.9']]
foreign exchange contracts $ 24.5 $ 19.1 $ 21.9 the model estimates were made assuming normal market conditions and a 95 percent confidence level .we used a statistical simulation model that valued our derivative financial instruments against one thousand randomly gen- erated market price paths .our calculated value-at-risk exposure represents an estimate of reasonably possible net losses that would be recognized on our portfolio of derivative financial instruments assuming hypothetical movements in future market rates and is not necessarily indicative of actual results , which may or may not occur .it does not represent the maximum possible loss or any expected loss that may occur , since actual future gains and losses will differ from those estimated , based upon actual fluctuations in market rates , operating exposures , and the timing thereof , and changes in our portfolio of derivative financial instruments during the year .we believe , however , that any such loss incurred would be offset by the effects of market rate movements on the respective underlying transactions for which the deriva- tive financial instrument was intended .off-balance sheet arrangements we do not maintain any off-balance sheet arrangements , transactions , obligations or other relationships with unconsolidated entities , other than operating leases , that would be expected to have a material current or future effect upon our financial condition or results of operations .the est{e lauder companies inc .135 .
|
what is the percentage of the british pound among the total foreign currency forward contracts?
|
27%
|
{
"answer": "27%",
"decimal": 0.27,
"type": "percentage"
}
|
it is the number of dollars in the british pound divided by the total amount of foreign currency forward contracts .
|
notes to consolidated financial statements ( continued ) | 72 snap-on incorporated following is a reconciliation of the beginning and ending amount of unrecognized tax benefits : ( amounts in millions ) amount .
[['( amounts in millions )', 'amount'], ['unrecognized tax benefits as of december 31 2006', '$ 21.3'], ['gross increases 2013 tax positions in prior periods', '0.5'], ['gross decreases 2013 tax positions in prior periods', '-0.4 ( 0.4 )'], ['gross increases 2013 tax positions in the current period', '0.5'], ['settlements with taxing authorities', '-3.0 ( 3.0 )'], ['lapsing of statutes of limitations', '-0.2 ( 0.2 )'], ['unrecognized tax benefits as of december 29 2007', '$ 18.7']]
of the $ 18.7 million of unrecognized tax benefits at the end of 2007 , approximately $ 16.2 million would impact the effective income tax rate if recognized .interest and penalties related to unrecognized tax benefits are recorded in income tax expense .during the years ended december 29 , 2007 , december 30 , 2006 , and december 31 , 2005 , the company recognized approximately $ 1.2 million , $ 0.5 million and ( $ 0.5 ) million in net interest expense ( benefit ) , respectively .the company has provided for approximately $ 3.4 million , $ 2.2 million , and $ 1.7 million of accrued interest related to unrecognized tax benefits at the end of fiscal year 2007 , 2006 and 2005 , respectively .during the next 12 months , the company does not anticipate any significant changes to the total amount of unrecognized tax benefits , other than the accrual of additional interest expense in an amount similar to the prior year 2019s expense .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 2003 , and snap-on is no longer subject to non-u.s .income tax examinations by tax authorities for years prior to 2001 .the undistributed earnings of all non-u.s .subsidiaries totaled $ 338.5 million , $ 247.4 million and $ 173.6 million at the end of fiscal 2007 , 2006 and 2005 , 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 .the american jobs creation act of 2004 ( the 201cajca 201d ) created a one-time tax incentive for u.s .corporations to repatriate accumulated foreign earnings by providing a tax deduction of 85% ( 85 % ) of qualifying dividends received from foreign affiliates .under the provisions of the ajca , snap-on repatriated approximately $ 93 million of qualifying dividends in 2005 that resulted in additional income tax expense of $ 3.3 million for the year .note 9 : short-term and long-term debt notes payable and long-term debt as of december 29 , 2007 , was $ 517.9 million ; no commercial paper was outstanding at december 29 , 2007 .as of december 30 , 2006 , notes payable and long-term debt was $ 549.2 million , including $ 314.9 million of commercial paper .snap-on presented $ 300 million of the december 30 , 2006 , outstanding commercial paper as 201clong-term debt 201d on the accompanying december 30 , 2006 , consolidated balance sheet .on january 12 , 2007 , snap-on sold $ 300 million of unsecured notes consisting of $ 150 million of floating rate notes that mature on january 12 , 2010 , and $ 150 million of fixed rate notes that mature on january 15 , 2017 .interest on the floating rate notes accrues at a rate equal to the three-month london interbank offer rate plus 0.13% ( 0.13 % ) per year and is payable quarterly .interest on the fixed rate notes accrues at a rate of 5.50% ( 5.50 % ) per year and is payable semi-annually .snap-on used the proceeds from the sale of the notes , net of $ 1.5 million of transaction costs , to repay commercial paper obligations issued to finance the acquisition of business solutions .on january 12 , 2007 , the company also terminated a $ 250 million bridge credit agreement that snap-on established prior to its acquisition of business solutions. .
|
in 2007 what was the change in the unrecognized tax benefits in millions
|
12.2%
|
{
"answer": "12.2%",
"decimal": 0.122,
"type": "percentage"
}
| |
59jackhenry.com note 12 .business acquisition bayside business solutions , inc .effective july 1 , 2015 , the company acquired all of the equity interests of bayside business solutions , an alabama-based company that provides technology solutions and payment processing services primarily for the financial services industry , for $ 10000 paid in cash .this acquisition was funded using existing operating cash .the acquisition of bayside business solutions expanded the company 2019s presence in commercial lending within the industry .management has completed a purchase price allocation of bayside business solutions and its assessment of the fair value of acquired assets and liabilities assumed .the recognized amounts of identifiable assets acquired and liabilities assumed , based upon their fair values as of july 1 , 2015 are set forth below: .
[['current assets', '$ 1922'], ['long-term assets', '253'], ['identifiable intangible assets', '5005'], ['total liabilities assumed', '-3279 ( 3279 )'], ['total identifiable net assets', '3901'], ['goodwill', '6099'], ['net assets acquired', '$ 10000']]
the goodwill of $ 6099 arising from this acquisition consists largely of the growth potential , synergies and economies of scale expected from combining the operations of the company with those of bayside business solutions , together with the value of bayside business solutions 2019 assembled workforce .goodwill from this acquisition has been allocated to our bank systems and services segment .the goodwill is not expected to be deductible for income tax purposes .identifiable intangible assets from this acquisition consist of customer relationships of $ 3402 , $ 659 of computer software and other intangible assets of $ 944 .the weighted average amortization period for acquired customer relationships , acquired computer software , and other intangible assets is 15 years , 5 years , and 20 years , respectively .current assets were inclusive of cash acquired of $ 1725 .the fair value of current assets acquired included accounts receivable of $ 178 .the gross amount of receivables was $ 178 , none of which was expected to be uncollectible .during fiscal year 2016 , the company incurred $ 55 in costs related to the acquisition of bayside business solutions .these costs included fees for legal , valuation and other fees .these costs were included within general and administrative expenses .the results of bayside business solutions 2019 operations included in the company 2019s consolidated statement of income for the twelve months ended june 30 , 2017 included revenue of $ 6536 and after-tax net income of $ 1307 .for the twelve months ended june 30 , 2016 , bayside business solutions 2019 contributed $ 4273 to revenue , and after-tax net income of $ 303 .the accompanying consolidated statements of income do not include any revenues and expenses related to this acquisition prior to the acquisition date .the impact of this acquisition was considered immaterial to both the current and prior periods of our consolidated financial statements and pro forma financial information has not been provided. .
|
of the current assets ( inclusive of cash acquired of $ 1725 ) , what percentage was accounts receivable?
|
10.3%
|
{
"answer": "10.3%",
"decimal": 0.10300000000000001,
"type": "percentage"
}
| |
2014 , 2013 and 2012 .the decrease in our consolidated net adjustments for 2014 compared to 2013 was primarily due to a decrease in profit booking rate adjustments at our aeronautics , mfc and mst business segments .the increase in our consolidated net adjustments for 2013 as compared to 2012 was primarily due to an increase in profit booking rate adjustments at our mst and mfc business segments and , to a lesser extent , the increase in the favorable resolution of contractual matters for the corporation .the consolidated net adjustments for 2014 are inclusive of approximately $ 650 million in unfavorable items , which include reserves recorded on certain training and logistics solutions programs at mst and net warranty reserve adjustments for various programs ( including jassm and gmlrs ) at mfc as described in the respective business segment 2019s results of operations below .the consolidated net adjustments for 2013 and 2012 are inclusive of approximately $ 600 million and $ 500 million in unfavorable items , which include a significant profit reduction on the f-35 development contract in both years , as well as a significant profit reduction on the c-5 program in 2013 , each as described in our aeronautics business segment 2019s results of operations discussion below .aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles and related technologies .aeronautics 2019 major programs include the f-35 lightning ii joint strike fighter , c-130 hercules , f-16 fighting falcon , f-22 raptor and the c-5m super galaxy .aeronautics 2019 operating results included the following ( in millions ) : .
[['', '2014', '2013', '2012'], ['net sales', '$ 14920', '$ 14123', '$ 14953'], ['operating profit', '1649', '1612', '1699'], ['operating margins', '11.1% ( 11.1 % )', '11.4% ( 11.4 % )', '11.4% ( 11.4 % )'], ['backlog at year-end', '$ 27600', '$ 28000', '$ 30100']]
2014 compared to 2013 aeronautics 2019 net sales for 2014 increased $ 797 million , or 6% ( 6 % ) , compared to 2013 .the increase was primarily attributable to higher net sales of approximately $ 790 million for f-35 production contracts due to increased volume and sustainment activities ; about $ 55 million for the f-16 program due to increased deliveries ( 17 aircraft delivered in 2014 compared to 13 delivered in 2013 ) partially offset by contract mix ; and approximately $ 45 million for the f-22 program due to increased risk retirements .the increases were partially offset by lower net sales of approximately $ 55 million for the f-35 development contract due to decreased volume , partially offset by the absence in 2014 of the downward revision to the profit booking rate that occurred in 2013 ; and about $ 40 million for the c-130 program due to fewer deliveries ( 24 aircraft delivered in 2014 compared to 25 delivered in 2013 ) and decreased sustainment activities , partially offset by contract mix .aeronautics 2019 operating profit for 2014 increased $ 37 million , or 2% ( 2 % ) , compared to 2013 .the increase was primarily attributable to higher operating profit of approximately $ 85 million for the f-35 development contract due to the absence in 2014 of the downward revision to the profit booking rate that occurred in 2013 ; about $ 75 million for the f-22 program due to increased risk retirements ; approximately $ 50 million for the c-130 program due to increased risk retirements and contract mix , partially offset by fewer deliveries ; and about $ 25 million for the c-5 program due to the absence in 2014 of the downward revisions to the profit booking rate that occurred in 2013 .the increases were partially offset by lower operating profit of approximately $ 130 million for the f-16 program due to decreased risk retirements , partially offset by increased deliveries ; and about $ 70 million for sustainment activities due to decreased risk retirements and volume .operating profit was comparable for f-35 production contracts as higher volume was offset by lower risk retirements .adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 105 million lower for 2014 compared to 2013 .2013 compared to 2012 aeronautics 2019 net sales for 2013 decreased $ 830 million , or 6% ( 6 % ) , compared to 2012 .the decrease was primarily attributable to lower net sales of approximately $ 530 million for the f-16 program due to fewer aircraft deliveries ( 13 aircraft delivered in 2013 compared to 37 delivered in 2012 ) partially offset by aircraft configuration mix ; about $ 385 million for the c-130 program due to fewer aircraft deliveries ( 25 aircraft delivered in 2013 compared to 34 in 2012 ) partially offset by increased sustainment activities ; approximately $ 255 million for the f-22 program , which includes about $ 205 million due to .
|
what was the percent of the change in the operating profit from 2013 to 2014
|
2.3%
|
{
"answer": "2.3%",
"decimal": 0.023,
"type": "percentage"
}
| |
part iii item 10 .directors , executive officers and corporate governance the information required by this item is incorporated by reference to the 201celection of directors 201d section , the 201cdirector selection process 201d section , the 201ccode of conduct 201d section , the 201cprincipal committees of the board of directors 201d section , the 201caudit committee 201d section and the 201csection 16 ( a ) beneficial ownership reporting compliance 201d section of the proxy statement for the annual meeting of stockholders to be held on may 27 , 2010 ( the 201cproxy statement 201d ) , except for the description of our executive officers , which appears in part i of this report on form 10-k under the heading 201cexecutive officers of ipg . 201d new york stock exchange certification in 2009 , our ceo provided the annual ceo certification to the new york stock exchange , as required under section 303a.12 ( a ) of the new york stock exchange listed company manual .item 11 .executive compensation the information required by this item is incorporated by reference to the 201ccompensation of executive officers 201d section , the 201cnon-management director compensation 201d section , the 201ccompensation discussion and analysis 201d section and the 201ccompensation committee report 201d section of the proxy statement .item 12 .security ownership of certain beneficial owners and management and related stockholder matters the information required by this item is incorporated by reference to the 201coutstanding shares 201d section of the proxy statement , except for information regarding the shares of common stock to be issued or which may be issued under our equity compensation plans as of december 31 , 2009 , which is provided in the following table .equity compensation plan information plan category number of shares of common stock to be issued upon exercise of outstanding options , warrants and rights ( a ) 12 weighted-average exercise price of outstanding stock options ( b ) number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column a ) ( c ) 3 equity compensation plans approved by security holders .........34317386 $ 16.11 52359299 equity compensation plans not approved by security holders 4 .....612500 $ 27.53 2014 .
[['plan category', 'number of shares of common stock to be issued upon exercise of outstandingoptions warrants and rights ( a ) 12', 'weighted-average exercise price of outstanding stock options ( b )', 'number of securities remaining available for futureissuance under equity compensation plans ( excluding securities reflected in column a ) ( c ) 3'], ['equity compensation plans approved by security holders', '34317386', '$ 16.11', '52359299'], ['equity compensation plans not approved by security holders4', '612500', '$ 27.53', '2014'], ['total', '34929886', '$ 16.31', '52359299']]
1 includes a total of 6058967 performance-based share awards made under the 2004 , 2006 and 2009 performance incentive plan representing the target number of shares to be issued to employees following the completion of the 2007-2009 performance period ( the 201c2009 ltip share awards 201d ) , the 2008- 2010 performance period ( the 201c2010 ltip share awards 201d ) and the 2009-2011 performance period ( the 201c2011 ltip share awards 201d ) respectively .the computation of the weighted-average exercise price in column ( b ) of this table does not take the 2009 ltip share awards , the 2010 ltip share awards or the 2011 ltip share awards into account .2 includes a total of 3914804 restricted share unit and performance-based awards ( 201cshare unit awards 201d ) which may be settled in shares or cash .the computation of the weighted-average exercise price in column ( b ) of this table does not take the share unit awards into account .each share unit award actually settled in cash will increase the number of shares of common stock available for issuance shown in column ( c ) .3 includes ( i ) 37885502 shares of common stock available for issuance under the 2009 performance incentive plan , ( ii ) 13660306 shares of common stock available for issuance under the employee stock purchase plan ( 2006 ) and ( iii ) 813491 shares of common stock available for issuance under the 2009 non-management directors 2019 stock incentive plan .4 consists of special stock option grants awarded to certain true north executives following our acquisition of true north ( the 201ctrue north options 201d ) .the true north options have an exercise price equal to the fair market value of interpublic 2019s common stock on the date of the grant .the terms and conditions of these stock option awards are governed by interpublic 2019s 1997 performance incentive plan .generally , the options become exercisable between two and five years after the date of the grant and expire ten years from the grant date. .
|
what was the total cost of all shares of common stock upon the exercise of outstanding stock options that were approved by security holders?
|
552853088
|
{
"answer": "552853088",
"decimal": 552853088,
"type": "float"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements recognizing customer revenue , the company must assess the collectability of both the amounts billed and the portion recognized on a straight-line basis .this assessment takes customer credit risk and business and industry conditions into consideration to ultimately determine the collectability of the amounts billed .to the extent the amounts , based on management 2019s estimates , may not be collectible , recognition is deferred until such point as the uncertainty is resolved .any amounts which were previously recognized as revenue and subsequently determined to be uncollectible are charged to bad debt expense .accounts receivable are reported net of allowances for doubtful accounts related to estimated losses resulting from a customer 2019s inability to make required payments and reserves for amounts invoiced whose collectability is not reasonably assured .these allowances are generally estimated based on payment patterns , days past due and collection history , and incorporate changes in economic conditions that may not be reflected in historical trends , such as customers in bankruptcy , liquidation or reorganization .receivables are written-off against the allowances when they are determined uncollectible .such determination includes analysis and consideration of the particular conditions of the account .changes in the allowances were as follows for the years ended december 31 , ( in thousands ) : .
[['', '2010', '2009', '2008'], ['balance as of january 1,', '$ 28520', '$ 11482', '$ 8850'], ['current year increases', '16219', '26771', '12059'], ['recoveries and other', '-22234 ( 22234 )', '-9733 ( 9733 )', '-9427 ( 9427 )'], ['balance as of december 31,', '$ 22505', '$ 28520', '$ 11482']]
the company 2019s largest international customer is iusacell , which is the brand name under which a group of companies controlled by grupo iusacell , s.a .de c.v .( 201cgrupo iusacell 201d ) operates .iusacell represented approximately 4% ( 4 % ) of the company 2019s total revenue for the year ended december 31 , 2010 .grupo iusacell has been engaged in a refinancing of a majority of its u.s .dollar denominated debt , and in connection with this process , two of the legal entities of the group , including grupo iusacell , voluntarily filed for a pre-packaged concurso mercantil ( a process substantially equivalent to chapter 11 of u.s .bankruptcy law ) with the backing of a majority of their financial creditors in december 2010 .as of december 31 , 2010 , iusacell notes receivable , net , and related assets ( which include financing lease commitments and a deferred rent asset that are primarily long-term in nature ) were $ 19.7 million and $ 51.2 million , respectively .functional currency 2014as a result of changes to the organizational structure of the company 2019s subsidiaries in latin america in 2010 , the company determined that effective january 1 , 2010 , the functional currency of its foreign subsidiary in brazil is the brazilian real .from that point forward , all assets and liabilities held by the subsidiary in brazil are translated into u.s .dollars at the exchange rate in effect at the end of the applicable reporting period .revenues and expenses are translated at the average monthly exchange rates and the cumulative translation effect is included in stockholders 2019 equity .the change in functional currency from u.s .dollars to brazilian real gave rise to an increase in the net value of certain non-monetary assets and liabilities .the aggregate impact on such assets and liabilities was $ 39.8 million with an offsetting increase in accumulated other comprehensive income ( loss ) .as a result of the renegotiation of the company 2019s agreements with its largest international customer , iusacell , which included , among other changes , converting all of iusacell 2019s contractual obligations to the company from u.s .dollars to mexican pesos , the company has determined that effective april 1 , 2010 , the functional currency of certain of its foreign subsidiaries in mexico is the mexican peso .from that point forward , all assets and liabilities held by those subsidiaries in mexico are translated into u.s .dollars at the exchange rate in effect at the end of the applicable reporting period .revenues and expenses are translated at the average monthly exchange rates and the cumulative translation effect is included in stockholders 2019 equity .the change in functional .
|
what is the percentage change in the balance of allowances from 2008 to 2009?
|
148.4%
|
{
"answer": "148.4%",
"decimal": 1.484,
"type": "percentage"
}
| |
domestic utility companies and system energy notes to respective financial statements protested the disallowance of these deductions to the office of irs appeals .entergy expects to receive a notice of deficiency in 2005 for this item , and plans to vigorously contest this matter .entergy believes that the contingency provision established in its financial statements sufficiently covers the risk associated with this item .mark to market of certain power contracts in 2001 , entergy louisiana changed its method of accounting for tax purposes related to its wholesale electric power contracts .the most significant of these is the contract to purchase power from the vidalia hydroelectric project .the new tax accounting method has provided a cumulative cash flow benefit of approximately $ 790 million as of december 31 , 2004 .the related irs interest exposure is $ 93 million at december 31 , 2004 .this benefit is expected to reverse in the years 2005 through 2031 .the election did not reduce book income tax expense .the timing of the reversal of this benefit depends on several variables , including the price of power .due to the temporary nature of the tax benefit , the potential interest charge represents entergy's net earnings exposure .entergy louisiana's 2001 tax return is currently under examination by the irs , though no adjustments have yet been proposed with respect to the mark to market election .entergy believes that the contingency provision established in its financial statements will sufficiently cover the risk associated with this issue .cashpoint bankruptcy ( entergy arkansas , entergy gulf states , entergy louisiana , entergy mississippi , and entergy new orleans ) in 2003 the domestic utility companies entered an agreement with cashpoint network services ( cashpoint ) under which cashpoint was to manage a network of payment agents through which entergy's utility customers could pay their bills .the payment agent system allows customers to pay their bills at various commercial or governmental locations , rather than sending payments by mail .approximately one-third of entergy's utility customers use payment agents .on april 19 , 2004 , cashpoint failed to pay funds due to the domestic utility companies that had been collected through payment agents .the domestic utility companies then obtained a temporary restraining order from the civil district court for the parish of orleans , state of louisiana , enjoining cashpoint from distributing funds belonging to entergy , except by paying those funds to entergy .on april 22 , 2004 , a petition for involuntary chapter 7 bankruptcy was filed against cashpoint by other creditors in the united states bankruptcy court for the southern district of new york .in response to these events , the domestic utility companies expanded an existing contract with another company to manage all of their payment agents .the domestic utility companies filed proofs of claim in the cashpoint bankruptcy proceeding in september 2004 .although entergy cannot precisely determine at this time the amount that cashpoint owes to the domestic utility companies that may not be repaid , it has accrued an estimate of loss based on current information .if no cash is repaid to the domestic utility companies , an event entergy does not believe is likely , the current estimates of maximum exposure to loss are approximately as follows : amount ( in millions ) .
[['', 'amount ( in millions )'], ['entergy arkansas', '$ 1.8'], ['entergy gulf states', '$ 7.7'], ['entergy louisiana', '$ 8.8'], ['entergy mississippi', '$ 4.3'], ['entergy new orleans', '$ 2.4']]
environmental issues ( entergy gulf states ) entergy gulf states has been designated as a prp for the cleanup of certain hazardous waste disposal sites .as of december 31 , 2004 , entergy gulf states does not expect the remaining clean-up costs to exceed its recorded liability of $ 1.5 million for the remaining sites at which the epa has designated entergy gulf states as a prp. .
|
what are the current estimates of maximum exposure to loss for entergy louisiana as a percentage of the cumulative cash flow benefit?
|
1.11%
|
{
"answer": "1.11%",
"decimal": 0.0111,
"type": "percentage"
}
| |
table 46 : allowance for loan and lease losses .
[['dollars in millions', '2013', '2012'], ['january 1', '$ 4036', '$ 4347'], ['total net charge-offs', '-1077 ( 1077 )', '-1289 ( 1289 )'], ['provision for credit losses', '643', '987'], ['net change in allowance for unfunded loan commitments and letters of credit', '8', '-10 ( 10 )'], ['other', '-1 ( 1 )', '1'], ['december 31', '$ 3609', '$ 4036'], ['net charge-offs to average loans ( for the year ended ) ( a )', '.57% ( .57 % )', '.73% ( .73 % )'], ['allowance for loan and lease losses to total loans', '1.84', '2.17'], ['commercial lending net charge-offs', '$ -249 ( 249 )', '$ -359 ( 359 )'], ['consumer lending net charge-offs', '-828 ( 828 )', '-930 ( 930 )'], ['total net charge-offs', '$ -1077 ( 1077 )', '$ -1289 ( 1289 )'], ['net charge-offs to average loans ( for the year ended )', '', ''], ['commercial lending', '.22% ( .22 % )', '.35% ( .35 % )'], ['consumer lending ( a )', '1.07', '1.24']]
( a ) includes charge-offs of $ 134 million taken pursuant to alignment with interagency guidance on practices for loans and lines of credit related to consumer lending in the first quarter of 2013 .the provision for credit losses totaled $ 643 million for 2013 compared to $ 987 million for 2012 .the primary driver of the decrease to the provision was improved overall credit quality , including improved commercial loan risk factors , lower consumer loan delinquencies and improvements in expected cash flows for our purchased impaired loans .for 2013 , the provision for commercial lending credit losses decreased by $ 102 million , or 74% ( 74 % ) , from 2012 .the provision for consumer lending credit losses decreased $ 242 million , or 29% ( 29 % ) , from 2012 .at december 31 , 2013 , total alll to total nonperforming loans was 117% ( 117 % ) .the comparable amount for december 31 , 2012 was 124% ( 124 % ) .these ratios are 72% ( 72 % ) and 79% ( 79 % ) , respectively , when excluding the $ 1.4 billion and $ 1.5 billion , respectively , of alll at december 31 , 2013 and december 31 , 2012 allocated to consumer loans and lines of credit not secured by residential real estate and purchased impaired loans .we have excluded consumer loans and lines of credit not secured by real estate as they are charged off after 120 to 180 days past due and not placed on nonperforming status .additionally , we have excluded purchased impaired loans as they are considered performing regardless of their delinquency status as interest is accreted based on our estimate of expected cash flows and additional allowance is recorded when these cash flows are below recorded investment .see table 35 within this credit risk management section for additional information .the alll balance increases or decreases across periods in relation to fluctuating risk factors , including asset quality trends , charge-offs and changes in aggregate portfolio balances .during 2013 , improving asset quality trends , including , but not limited to , delinquency status and improving economic conditions , realization of previously estimated losses through charge-offs , including the impact of alignment with interagency guidance and overall portfolio growth , combined to result in the alll balance declining $ .4 billion , or 11% ( 11 % ) to $ 3.6 billion as of december 31 , 2013 compared to december 31 , 2012 .see note 7 allowances for loan and lease losses and unfunded loan commitments and letters of credit and note 6 purchased loans in the notes to consolidated financial statements in item 8 of this report regarding changes in the alll and in the allowance for unfunded loan commitments and letters of credit .operational risk management operational risk is the risk of loss resulting from inadequate or failed internal processes or systems , human factors , or external events .this includes losses that may arise as a result of non- compliance with laws or regulations , failure to fulfill fiduciary responsibilities , as well as litigation or other legal actions .operational risk may occur in any of our business activities and manifests itself in various ways , including but not limited to : 2022 transaction processing errors , 2022 unauthorized transactions and fraud by employees or third parties , 2022 material disruption in business activities , 2022 system breaches and misuse of sensitive information , 2022 regulatory or governmental actions , fines or penalties , and 2022 significant legal expenses , judgments or settlements .pnc 2019s operational risk management is inclusive of technology risk management , compliance and business continuity risk .operational risk management focuses on balancing business needs , regulatory expectations and risk management priorities through an adaptive and proactive program that is designed to provide a strong governance model , sound and consistent risk management processes and transparent operational risk reporting across the enterprise .the pnc board determines the strategic approach to operational risk via establishment of the operational risk appetite and appropriate risk management structure .this includes establishment of risk metrics and limits and a reporting structure to identify , understand and manage operational risks .executive management has responsibility for operational risk management .the executive management team is responsible for monitoring significant risks , key controls and related issues through management reporting and a governance structure of risk committees and sub-committees .within risk management , operational risk management functions are responsible for developing and maintaining the 84 the pnc financial services group , inc .2013 form 10-k .
|
what was the percentage change in the provision for credit losses from 2012 to 2013
|
-34.9%
|
{
"answer": "-34.9%",
"decimal": -0.349,
"type": "percentage"
}
| |
company stock performance the following graph shows a five-year comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s .technology index .the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s .technology index on september 30 , 2006 .data points on the graph are annual .note that historic stock price performance is not necessarily indicative of future stock price performance .comparison of 5 year cumulative total return* among apple inc. , the s&p 500 index , the s&p computer hardware index and the dow jones us technology index sep-10sep-09sep-08sep-07sep-06 sep-11 apple inc .s&p 500 s&p computer hardware dow jones us technology *$ 100 invested on 9/30/06 in stock or index , including reinvestment of dividends .fiscal year ending september 30 .copyright a9 2011 s&p , a division of the mcgraw-hill companies inc .all rights reserved .copyright a9 2011 dow jones & co .all rights reserved .september 30 , september 30 , september 30 , september 30 , september 30 , september 30 .
[['', 'september 30 2006', 'september 30 2007', 'september 30 2008', 'september 30 2009', 'september 30 2010', 'september 30 2011'], ['apple inc .', '$ 100', '$ 199', '$ 148', '$ 241', '$ 369', '$ 495'], ['s&p 500', '$ 100', '$ 116', '$ 91', '$ 85', '$ 93', '$ 94'], ['s&p computer hardware', '$ 100', '$ 148', '$ 124', '$ 147', '$ 174', '$ 197'], ['dow jones us technology', '$ 100', '$ 123', '$ 94', '$ 104', '$ 117', '$ 120']]
.
|
did apple achieve a greater return in the year ended sept . 30 2009 than the s&p 500?
|
yes
|
{
"answer": "yes",
"decimal": 1,
"type": "bool"
}
| |
gain on land sales are derived from sales of undeveloped land owned by us .we pursue opportunities to dispose of land in markets with a high concentration of undeveloped land and in those markets where the land no longer meets our strategic development plans .the increase was partially attributable to a land sale to a current corporate tenant for potential future expansion .we recorded $ 424000 and $ 560000 of impairment charges associated with contracts to sell land parcels for the years ended december 31 , 2004 and 2003 , respectively .as of december 31 , 2004 , only one parcel on which we recorded impairment charges is still owned by us .we anticipate selling this parcel in the first quarter of 2005 .discontinued operations we have classified operations of 86 buildings as discontinued operations as of december 31 , 2004 .these 86 buildings consist of 69 industrial , 12 office and five retail properties .as a result , we classified net income from operations , net of minority interest , of $ 1.6 million , $ 6.3 million and $ 10.7 million as net income from discontinued operations for the years ended december 31 , 2004 , 2003 and 2002 , respectively .in addition , 41 of the properties classified in discontinued operations were sold during 2004 , 42 properties were sold during 2003 , two properties were sold during 2002 and one operating property is classified as held-for-sale at december 31 , 2004 .the gains on disposal of these properties , net of impairment adjustment and minority interest , of $ 23.9 million and $ 11.8 million for the years ended december 31 , 2004 and 2003 , respectively , are also reported in discontinued operations .for the year ended december 31 , 2002 , a $ 4.5 million loss on disposal of properties , net of impairment adjustments and minority interest , is reported in discontinued operations due to impairment charges of $ 7.7 million recorded on three properties in 2002 that were later sold in 2003 and 2004 .comparison of year ended december 31 , 2003 to year ended december 31 , 2002 rental income from continuing operations rental income from continuing operations increased from $ 652.8 million in 2002 to $ 689.3 million in 2003 .the following table reconciles rental income by reportable segment to our total reported rental income from continuing operations for the years ended december 31 , 2003 and 2002 ( in thousands ) : .
[['', '2003', '2002'], ['office', '$ 419962', '$ 393810'], ['industrial', '259762', '250391'], ['retail', '5863', '4733'], ['other', '3756', '3893'], ['total', '$ 689343', '$ 652827']]
although our three reportable segments comprising rental operations ( office , industrial and retail ) are all within the real estate industry , they are not necessarily affected by the same economic and industry conditions .for example , our retail segment experienced high occupancies and strong overall performance during 2003 , while our office and industrial segments reflected the weaker economic environment for those property types .the primary causes of the increase in rental income from continuing operations , with specific references to a particular segment when applicable , are summarized below : 25cf during 2003 , in-service occupancy improved from 87.1% ( 87.1 % ) at the end of 2002 to 89.3% ( 89.3 % ) at the end of 2003 .the second half of 2003 was highlighted by a significant increase in the industrial portfolio occupancy of 2.1% ( 2.1 % ) along with a slight increase in office portfolio occupancy of 0.9% ( 0.9 % ) .25cf lease termination fees totaled $ 27.4 million in 2002 compared to $ 16.2 million in 2003 .most of this decrease was attributable to the office segment , which recognized $ 21.1 million of termination fees in 2002 as compared to $ 11.8 million in 2003 .lease termination fees relate to specific tenants that pay a fee to terminate their lease obligations before the end of the contractual lease term .the high volume of termination fees in 2002 was reflective of the contraction of the business of large office users during that year and their desire to downsize their use of office space .the decrease in termination fees for 2003 was indicative of an improving economy and a more stable financial position of our tenants .25cf during the year ended 2003 , we acquired $ 232 million of properties totaling 2.1 million square feet .the acquisitions were primarily class a office buildings in existing markets with overall occupancy near 90% ( 90 % ) .revenues associated with these acquisitions totaled $ 11.9 million in 2003 .in addition , revenues from 2002 acquisitions totaled $ 15.8 million in 2003 compared to $ 4.8 million in 2002 .this significant increase is primarily due to a large office acquisition that closed at the end of december 2002 .25cf developments placed in-service in 2003 provided revenues of $ 6.6 million , while revenues associated with developments placed in-service in 2002 totaled $ 13.7 million in 2003 compared to $ 4.7 million in 25cf proceeds from dispositions of held for rental properties totaled $ 126.1 million in 2003 , compared to $ 40.9 million in 2002 .these properties generated revenue of $ 12.5 million in 2003 versus $ 19.6 million in 2002 .equity in earnings of unconsolidated companies equity in earnings represents our ownership share of net income from investments in unconsolidated companies .these joint ventures generally own and operate rental properties and hold land for development .these earnings decreased from $ 27.2 million in 2002 to $ 23.7 million in 2003 .this decrease is a result of the following significant activity: .
|
what are the lease termination fees as a percentage of rental income from continuing operations in 2003?
|
2.35%
|
{
"answer": "2.35%",
"decimal": 0.0235,
"type": "percentage"
}
| |
management 2019s discussion and analysis of financial condition and results of operations comcast corporation and subsidiaries28 comcast corporation and subsidiaries the exchangeable notes varies based upon the fair market value of the security to which it is indexed .the exchangeable notes are collateralized by our investments in cablevision , microsoft and vodafone , respectively .the comcast exchangeable notes are collateralized by our class a special common stock held in treasury .we have settled and intend in the future to settle all of the comcast exchangeable notes using cash .during 2004 and 2003 , we settled an aggregate of $ 847 million face amount and $ 638 million face amount , respectively , of our obligations relating to our notes exchangeable into comcast stock by delivering cash to the counterparty upon maturity of the instruments , and the equity collar agreements related to the underlying shares expired or were settled .during 2004 and 2003 , we settled $ 2.359 billion face amount and $ 1.213 billion face amount , respectively , of our obligations relating to our exchangeable notes by delivering the underlying shares of common stock to the counterparty upon maturity of the investments .as of december 31 , 2004 , our debt includes an aggregate of $ 1.699 billion of exchangeable notes , including $ 1.645 billion within current portion of long-term debt .as of december 31 , 2004 , the securities we hold collateralizing the exchangeable notes were sufficient to substantially satisfy the debt obligations associated with the outstanding exchangeable notes .stock repurchases .during 2004 , under our board-authorized , $ 2 billion share repurchase program , we repurchased 46.9 million shares of our class a special common stock for $ 1.328 billion .we expect such repurchases to continue from time to time in the open market or in private transactions , subject to market conditions .refer to notes 8 and 10 to our consolidated financial statements for a discussion of our financing activities .investing activities net cash used in investing activities from continuing operations was $ 4.512 billion for the year ended december 31 , 2004 , and consists primarily of capital expenditures of $ 3.660 billion , additions to intangible and other noncurrent assets of $ 628 million and the acquisition of techtv for approximately $ 300 million .capital expenditures .our most significant recurring investing activity has been and is expected to continue to be capital expendi- tures .the following table illustrates the capital expenditures we incurred in our cable segment during 2004 and expect to incur in 2005 ( dollars in millions ) : .
[['', '2004', '2005'], ['deployment of cable modems digital converters and new service offerings', '$ 2106', '$ 2300'], ['upgrading of cable systems', '902', '200'], ['recurring capital projects', '614', '500'], ['total cable segment capital expenditures', '$ 3622', '$ 3000']]
the amount of our capital expenditures for 2005 and for subsequent years will depend on numerous factors , some of which are beyond our control , including competition , changes in technology and the timing and rate of deployment of new services .additions to intangibles .additions to intangibles during 2004 primarily relate to our investment in a $ 250 million long-term strategic license agreement with gemstar , multiple dwelling unit contracts of approximately $ 133 million and other licenses and software intangibles of approximately $ 168 million .investments .proceeds from sales , settlements and restructurings of investments totaled $ 228 million during 2004 , related to the sales of our non-strategic investments , including our 20% ( 20 % ) interest in dhc ventures , llc ( discovery health channel ) for approximately $ 149 million .we consider investments that we determine to be non-strategic , highly-valued , or both to be a source of liquidity .we consider our investment in $ 1.5 billion in time warner common-equivalent preferred stock to be an anticipated source of liquidity .we do not have any significant contractual funding commitments with respect to any of our investments .refer to notes 6 and 7 to our consolidated financial statements for a discussion of our investments and our intangible assets , respectively .off-balance sheet arrangements we do not have any significant off-balance sheet arrangements that are reasonably likely to have a current or future effect on our financial condition , results of operations , liquidity , capital expenditures or capital resources. .
|
what percentage of total cable segment capital expenditures in 2005 where due to upgrading of cable systems?
|
7%
|
{
"answer": "7%",
"decimal": 0.07,
"type": "percentage"
}
| |
of exercise for stock options exercised or at period end for outstanding stock options , less the applicable exercise price .the company issued new shares to satisfy exercised stock options .compensation expense the company recorded $ 43 million , $ 34 million , and $ 44 million of expense related to stock awards for the years ended december 31 , 2015 , 2014 , and 2013 , respectively .the company recorded $ 17 million , $ 13 million , and $ 17 million as a tax benefit related to stock awards and stock options for the years ended december 31 , 2015 , 2014 , and 2013 , respectively .the company recognized tax benefits for the years ended december 31 , 2015 , 2014 , and 2013 , of $ 41 million , $ 53 million , and $ 32 million , respectively , from the issuance of stock in settlement of stock awards , and $ 4 million , $ 5 million , and $ 4 million for the years ended december 31 , 2015 , 2014 , and 2013 , respectively , from the exercise of stock options .unrecognized compensation expense as of december 31 , 2015 , the company had less than $ 1 million of unrecognized compensation expense associated with rsrs granted in 2015 and 2014 , which will be recognized over a weighted average period of 1.0 year , and $ 25 million of unrecognized expense associated with rpsrs granted in 2015 , 2014 , and 2013 , which will be recognized over a weighted average period of 0.6 years .as of december 31 , 2015 , the company had no unrecognized compensation expense related to stock options .compensation expense for stock options was fully recognized as of december 31 , 2013 .20 .unaudited selected quarterly data unaudited quarterly financial results for the years ended december 31 , 2015 and 2014 , are set forth in the following tables: .
[['( $ in millions except per share amounts )', 'year ended december 31 2015 1st qtr', 'year ended december 31 2015 2nd qtr ( 1 )', 'year ended december 31 2015 3rd qtr', 'year ended december 31 2015 4th qtr ( 2 )'], ['sales and service revenues', '$ 1570', '$ 1745', '$ 1800', '$ 1905'], ['operating income ( loss )', '156', '269', '200', '144'], ['earnings ( loss ) before income taxes', '133', '244', '175', '80'], ['net earnings ( loss )', '87', '156', '111', '50'], ['dividends declared per share', '$ 0.40', '$ 0.40', '$ 0.40', '$ 0.50'], ['basic earnings ( loss ) per share', '$ 1.80', '$ 3.22', '$ 2.31', '$ 1.07'], ['diluted earnings ( loss ) per share', '$ 1.79', '$ 3.20', '$ 2.29', '$ 1.06']]
( 1 ) in the second quarter of 2015 , the company recorded a $ 59 million goodwill impairment charge .during the same period , the company recorded $ 136 million of operating income as a result of the aon settlement .( 2 ) in the fourth quarter of 2015 , the company recorded $ 16 million goodwill impairment and $ 27 million intangible asset impairment charges. .
|
what was the total sales revenue in 2015 in millions
|
7020
|
{
"answer": "7020",
"decimal": 7020,
"type": "float"
}
|
the sales is the sum of all quarterly sales
|
secured financing is primarily conducted through citi 2019s broker-dealer subsidiaries to facilitate customer matched-book activity and to efficiently fund a portion of the trading inventory .secured financing appears as a liability on citi 2019s consolidated balance sheet ( 201csecurities loaned or sold under agreements to repurchase 201d ) .as of december 31 , 2010 , secured financing was $ 189.6 billion and averaged approximately $ 207 billion during the quarter ended december 31 , 2010 .secured financing at december 31 , 2010 increased by $ 35 billion from $ 154.3 billion at december 31 , 2009 .during the same period , reverse repos and securities borrowing increased by $ 25 billion .the majority of secured financing is collateralized by highly liquid government , government-backed and government agency securities .this collateral comes primarily from citi 2019s trading assets and its secured lending , and is part of citi 2019s client matched-book activity given that citi both borrows and lends similar asset types on a secured basis .the minority of secured financing is collateralized by less liquid collateral , and supports both citi 2019s trading assets as well as the business of secured lending to customers , which is also part of citi 2019s client matched-book activity .the less liquid secured borrowing is carefully calibrated by asset quality , tenor and counterparty exposure , including those that might be sensitive to ratings stresses , in order to increase the reliability of the funding .citi believes there are several potential mitigants available to it in the event of stress on the secured financing markets for less liquid collateral .citi 2019s significant liquidity resources in its non-bank entities as of december 31 , 2010 , supplemented by collateralized liquidity transfers between entities , provide a cushion .within the matched-book activity , the secured lending positions , which are carefully managed in terms of collateral and tenor , could be unwound to provide additional liquidity under stress .citi also has excess funding capacity for less liquid collateral with existing counterparties that can be accessed during potential dislocation .in addition , citi has the ability to adjust the size of select trading books to provide further mitigation .at december 31 , 2010 , commercial paper outstanding for citigroup 2019s non- bank entities and bank subsidiaries , respectively , was as follows : in billions of dollars non-bank bank ( 1 ) citigroup .
[['in billions of dollars', 'non-bank', 'bank', '-1 ( 1 )', 'total citigroup'], ['commercial paper', '$ 9.7', '$ 15.0', '', '$ 24.7']]
( 1 ) includes $ 15 billion of commercial paper related to vies consolidated effective january 1 , 2010 with the adoption of sfas 166/167 .other short-term borrowings of approximately $ 54 billion ( as set forth in the secured financing and short-term borrowings table above ) include $ 42.4 billion of borrowings from banks and other market participants , which includes borrowings from the federal home loan banks .this represented a decrease of approximately $ 11 billion as compared to year-end 2009 .the average balance of borrowings from banks and other market participants for the quarter ended december 31 , 2010 was approximately $ 43 billion .other short-term borrowings also include $ 11.7 billion of broker borrowings at december 31 , 2010 , which averaged approximately $ 13 billion for the quarter ended december 31 , 2010 .see notes 12 and 19 to the consolidated financial statements for further information on citigroup 2019s and its affiliates 2019 outstanding long-term debt and short-term borrowings .liquidity transfer between entities liquidity is generally transferable within the non-bank , subject to regulatory restrictions ( if any ) and standard legal terms .similarly , the non-bank can generally transfer excess liquidity into citi 2019s bank subsidiaries , such as citibank , n.a .in addition , citigroup 2019s bank subsidiaries , including citibank , n.a. , can lend to the citigroup parent and broker-dealer in accordance with section 23a of the federal reserve act .as of december 31 , 2010 , the amount available for lending under section 23a was approximately $ 26.6 billion , provided the funds are collateralized appropriately. .
|
what percentage of commercial paper outstanding as of december 31 , 2010 was for non-bank subsidiaries?
|
39%
|
{
"answer": "39%",
"decimal": 0.39,
"type": "percentage"
}
| |
management 2019s discussion and analysis 126 jpmorgan chase & co./2014 annual report 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 exposure to a counterparty is an extreme measure of exposure calculated at a 97.5% ( 97.5 % ) confidence level .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 .the measurement is done by equating the unexpected loss in a derivative counterparty exposure ( which takes into consideration both the loss volatility and the credit rating of the counterparty ) with the unexpected loss in a loan exposure ( which takes into consideration only the credit rating of the counterparty ) .dre is a less extreme measure of potential credit loss than peak and is the primary measure used by the firm for credit approval of derivative transactions .finally , 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 capital and the cva , as further described below .the three year avg exposure was $ 37.5 billion and $ 35.4 billion at december 31 , 2014 and 2013 , respectively , compared with derivative receivables , net of all collateral , of $ 59.4 billion and $ 51.3 billion at december 31 , 2014 and 2013 , respectively .the fair value of the firm 2019s derivative receivables incorporates an adjustment , the cva , to reflect the credit quality of counterparties .the cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market .the primary components of changes in cva are credit spreads , new deal activity or unwinds , and changes in the underlying market environment .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 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 dre and avg metrics .the two measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio .the following table summarizes the ratings profile by derivative counterparty of the firm 2019s derivative receivables , including credit derivatives , net of other liquid securities collateral , for 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 2014 2013 ( 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 net of all collateral', 'exposure net of all collateral', '% ( % ) of exposure net of all collateral'], ['aaa/aaa to aa-/aa3', '$ 19202', '32% ( 32 % )', '$ 12953', '25% ( 25 % )'], ['a+/a1 to a-/a3', '13940', '24', '12930', '25'], ['bbb+/baa1 to bbb-/baa3', '19008', '32', '15220', '30'], ['bb+/ba1 to b-/b3', '6384', '11', '6806', '13'], ['ccc+/caa1 and below', '837', '1', '3415', '7'], ['total', '$ 59371', '100% ( 100 % )', '$ 51324', '100% ( 100 % )']]
( a ) the prior period amounts have been revised to conform with the current period presentation. .
|
what percent of the ratings profile of derivative receivables were junk rated in 2014?
|
12
|
{
"answer": "12",
"decimal": 12,
"type": "float"
}
| |
during 2015 , 2014 and 2013 , netherland , sewell & associates , inc .( "nsai" ) prepared a certification of the prior year's reserves for the alba field in e.g .the nsai summary reports are filed as an exhibit to this annual report on form 10-k .members of the nsai team have multiple years of industry experience , having worked for large , international oil and gas companies before joining nsai .the senior technical advisor has over 35 years of practical experience in petroleum geosciences , with over 15 years experience in the estimation and evaluation of reserves .the second team member has over 10 years of practical experience in petroleum engineering , with over five years experience in the estimation and evaluation of reserves .both are registered professional engineers in the state of texas .ryder scott company ( "ryder scott" ) also performed audits of the prior years' reserves of several of our fields in 2015 , 2014 and 2013 .their summary reports are filed as exhibits to this annual report on form 10-k .the team lead for ryder scott has over 20 years of industry experience , having worked for a major international oil and gas company before joining ryder scott .he is a member of spe , where he served on the oil and gas reserves committee , and is a registered professional engineer in the state of texas .changes in proved undeveloped reserves as of december 31 , 2015 , 603 mmboe of proved undeveloped reserves were reported , a decrease of 125 mmboe from december 31 , 2014 .the following table shows changes in total proved undeveloped reserves for 2015 : ( mmboe ) .
[['beginning of year', '728'], ['revisions of previous estimates', '-223 ( 223 )'], ['improved recovery', '1'], ['purchases of reserves in place', '1'], ['extensions discoveries and other additions', '175'], ['dispositions', '2014'], ['transfers to proved developed', '-79 ( 79 )'], ['end of year', '603']]
the revisions to previous estimates were largely due to a result of reductions to our capital development program which deferred proved undeveloped reserves beyond the 5-year plan .a total of 139 mmboe was booked as extensions , discoveries or other additions and revisions due to the application of reliable technology .technologies included statistical analysis of production performance , decline curve analysis , pressure and rate transient analysis , reservoir simulation and volumetric analysis .the observed statistical nature of production performance coupled with highly certain reservoir continuity or quality within the reliable technology areas and sufficient proved developed locations establish the reasonable certainty criteria required for booking proved reserves .transfers from proved undeveloped to proved developed reserves included 47 mmboe in the eagle ford , 14 mmboe in the bakken and 5 mmboe in the oklahoma resource basins due to development drilling and completions .costs incurred in 2015 , 2014 and 2013 relating to the development of proved undeveloped reserves were $ 1415 million , $ 3149 million and $ 2536 million .projects can remain in proved undeveloped reserves for extended periods in certain situations such as large development projects which take more than five years to complete , or the timing of when additional gas compression is needed .of the 603 mmboe of proved undeveloped reserves at december 31 , 2015 , 26% ( 26 % ) of the volume is associated with projects that have been included in proved reserves for more than five years .the majority of this volume is related to a compression project in e.g .that was sanctioned by our board of directors in 2004 .during 2012 , the compression project received the approval of the e.g .government , fabrication of the new platform began in 2013 and installation of the platform at the alba field occurred in january 2016 .commissioning is currently underway , with first production expected by mid-2016 .proved undeveloped reserves for the north gialo development , located in the libyan sahara desert , were booked for the first time in 2010 .this development is being executed by the operator and encompasses a multi-year drilling program including the design , fabrication and installation of extensive liquid handling and gas recycling facilities .anecdotal evidence from similar development projects in the region leads to an expected project execution time frame of more than five years from the time the reserves were initially booked .interruptions associated with the civil and political unrest have also extended the project duration .operations were interrupted in mid-2013 as a result of the shutdown of the es sider crude oil terminal , and although temporarily re-opened during the second half of 2014 , production remains shut-in through early 2016 .the operator is committed to the project 2019s completion and continues to assign resources in order to execute the project .our conversion rate for proved undeveloped reserves to proved developed reserves for 2015 was 11% ( 11 % ) .however , excluding the aforementioned long-term projects in e.g .and libya , our 2015 conversion rate would be 15% ( 15 % ) .furthermore , our .
|
how many of the year end 2015 proved undeveloped reserves were converted to proved developed reserves?
|
66.33
|
{
"answer": "66.33",
"decimal": 66.33,
"type": "float"
}
| |
result of the effects of the costa concordia incident and the continued instability in the european eco- nomic landscape .however , we continue to believe in the long term growth potential of this market .we estimate that europe was served by 102 ships with approximately 108000 berths at the beginning of 2008 and by 117 ships with approximately 156000 berths at the end of 2012 .there are approximately 9 ships with an estimated 25000 berths that are expected to be placed in service in the european cruise market between 2013 and 2017 .the following table details the growth in the global , north american and european cruise markets in terms of cruise guests and estimated weighted-average berths over the past five years : global cruise guests ( 1 ) weighted-average supply of berths marketed globally ( 1 ) north american cruise guests ( 2 ) weighted-average supply of berths marketed in north america ( 1 ) european cruise guests weighted-average supply of berths marketed in europe ( 1 ) .
[['year', 'global cruise guests ( 1 )', 'weighted-average supply of berths marketed globally ( 1 )', 'north american cruise guests ( 2 )', 'weighted-average supply of berths marketed in north america ( 1 )', 'european cruise guests', 'weighted-average supply of berths marketed in europe ( 1 )'], ['2008', '17184000', '347000', '10093000', '219000', '4500000', '120000'], ['2009', '17340000', '363000', '10198000', '222000', '5000000', '131000'], ['2010', '18800000', '391000', '10781000', '232000', '5540000', '143000'], ['2011', '20227000', '412000', '11625000', '245000', '5894000', '149000'], ['2012', '20823000', '425000', '12044000', '254000', '6040000', '152000']]
( 1 ) source : our estimates of the number of global cruise guests , and the weighted-average supply of berths marketed globally , in north america and europe are based on a combination of data that we obtain from various publicly available cruise industry trade information sources including seatrade insider and cruise line international association ( 201cclia 201d ) .in addition , our estimates incorporate our own statistical analysis utilizing the same publicly available cruise industry data as a base .( 2 ) source : cruise line international association based on cruise guests carried for at least two consecutive nights for years 2008 through 2011 .year 2012 amounts represent our estimates ( see number 1 above ) .( 3 ) source : clia europe , formerly european cruise council , for years 2008 through 2011 .year 2012 amounts represent our estimates ( see number 1 above ) .other markets in addition to expected industry growth in north america and europe as discussed above , we expect the asia/pacific region to demonstrate an even higher growth rate in the near term , although it will continue to represent a relatively small sector compared to north america and europe .competition we compete with a number of cruise lines .our princi- pal competitors are carnival corporation & plc , which owns , among others , aida cruises , carnival cruise lines , costa cruises , cunard line , holland america line , iberocruceros , p&o cruises and princess cruises ; disney cruise line ; msc cruises ; norwegian cruise line and oceania cruises .cruise lines compete with other vacation alternatives such as land-based resort hotels and sightseeing destinations for consumers 2019 leisure time .demand for such activities is influenced by political and general economic conditions .com- panies within the vacation market are dependent on consumer discretionary spending .operating strategies our principal operating strategies are to : 2022 protect the health , safety and security of our guests and employees and protect the environment in which our vessels and organization operate , 2022 strengthen and support our human capital in order to better serve our global guest base and grow our business , 2022 further strengthen our consumer engagement in order to enhance our revenues , 2022 increase the awareness and market penetration of our brands globally , 2022 focus on cost efficiency , manage our operating expenditures and ensure adequate cash and liquid- ity , with the overall goal of maximizing our return on invested capital and long-term shareholder value , 2022 strategically invest in our fleet through the revit ad alization of existing ships and the transfer of key innovations across each brand , while prudently expanding our fleet with the new state-of-the-art cruise ships recently delivered and on order , 2022 capitalize on the portability and flexibility of our ships by deploying them into those markets and itineraries that provide opportunities to optimize returns , while continuing our focus on existing key markets , 2022 further enhance our technological capabilities to service customer preferences and expectations in an innovative manner , while supporting our strategic focus on profitability , and part i 0494.indd 13 3/27/13 12:52 pm .
|
what was the approximate increase of berths per ships for 2012 compared to 2008?
|
274.51
|
{
"answer": "274.51",
"decimal": 274.51,
"type": "float"
}
| |
entergy arkansas , inc .and subsidiaries management 2019s financial discussion and analysis plan to spin off the utility 2019s transmission business see the 201cplan to spin off the utility 2019s transmission business 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for a discussion of this matter , including the planned retirement of debt and preferred securities .results of operations net income 2011 compared to 2010 net income decreased $ 7.7 million primarily due to a higher effective income tax rate , lower other income , and higher other operation and maintenance expenses , substantially offset by higher net revenue , lower depreciation and amortization expenses , and lower interest expense .2010 compared to 2009 net income increased $ 105.7 million primarily due to higher net revenue , a lower effective income tax rate , higher other income , and lower depreciation and amortization expenses , partially offset by higher other operation and maintenance expenses .net revenue 2011 compared to 2010 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .following is an analysis of the change in net revenue comparing 2011 to 2010 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2010 net revenue', '$ 1216.7'], ['retail electric price', '31.0'], ['ano decommissioning trust', '26.4'], ['transmission revenue', '13.1'], ['volume/weather', '-15.9 ( 15.9 )'], ['net wholesale revenue', '-11.9 ( 11.9 )'], ['capacity acquisition recovery', '-10.3 ( 10.3 )'], ['other', '3.2'], ['2011 net revenue', '$ 1252.3']]
the retail electric price variance is primarily due to a base rate increase effective july 2010 .see note 2 to the financial statements for more discussion of the rate case settlement .the ano decommissioning trust variance is primarily related to the deferral of investment gains from the ano 1 and 2 decommissioning trust in 2010 in accordance with regulatory treatment .the gains resulted in an increase in 2010 in interest and investment income and a corresponding increase in regulatory charges with no effect on net income. .
|
what was the ratio of the net income increase in 2010 to the decrease in 2011
|
13.7
|
{
"answer": "13.7",
"decimal": 13.7,
"type": "float"
}
| |
whether or not any claims asserted against us or others to whom we may have indemnification obligations , whether in the proceedings or other matters described above or otherwise , will have a material adverse effect on our results of operations in any future reporting period , which will depend on , among other things , the amount of the loss resulting from the claim and the amount of income otherwise reported for the reporting period .see note 23 commitments and guarantees for additional information regarding the visa indemnification and our other obligations to provide indemnification , including to current and former officers , directors , employees and agents of pnc and companies we have acquired , including national city .note 23 commitments and guarantees equity funding and other commitments our unfunded commitments at december 31 , 2011 included private equity investments of $ 247 million , and other investments of $ 3 million .standby letters of credit we issue standby letters of credit and have risk participations in standby letters of credit and bankers 2019 acceptances issued by other financial institutions , in each case to support obligations of our customers to third parties , such as remarketing programs for customers 2019 variable rate demand notes .net outstanding standby letters of credit and internal credit ratings were as follows : net outstanding standby letters of credit dollars in billions december 31 december 31 .
[['dollars in billions', 'december 31 2011', 'december 312010'], ['net outstanding standby letters of credit', '$ 10.8', '$ 10.1'], ['internal credit ratings ( as a percentage of portfolio ) :', '', ''], ['pass ( a )', '94% ( 94 % )', '90% ( 90 % )'], ['below pass ( b )', '6% ( 6 % )', '10% ( 10 % )']]
( a ) indicates that expected risk of loss is currently low .( b ) indicates a higher degree of risk of default .if the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program , then upon the request of the guaranteed party , we would be obligated to make payment to them .the standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances outstanding on december 31 , 2011 had terms ranging from less than 1 year to 7 years .the aggregate maximum amount of future payments pnc could be required to make under outstanding standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances was $ 14.4 billion at december 31 , 2011 , of which $ 7.4 billion support remarketing programs .as of december 31 , 2011 , assets of $ 2.0 billion secured certain specifically identified standby letters of credit .recourse provisions from third parties of $ 3.6 billion were also available for this purpose as of december 31 , 2011 .in addition , a portion of the remaining standby letters of credit and letter of credit risk participations issued on behalf of specific customers is also secured by collateral or guarantees that secure the customers 2019 other obligations to us .the carrying amount of the liability for our obligations related to standby letters of credit and risk participations in standby letters of credit and bankers 2019 acceptances was $ 247 million at december 31 , 2011 .standby bond purchase agreements and other liquidity facilities we enter into standby bond purchase agreements to support municipal bond obligations .at december 31 , 2011 , the aggregate of our commitments under these facilities was $ 543 million .we also enter into certain other liquidity facilities to support individual pools of receivables acquired by commercial paper conduits .at december 31 , 2011 , our total commitments under these facilities were $ 199 million .indemnifications we are a party to numerous acquisition or divestiture agreements under which we have purchased or sold , or agreed to purchase or sell , various types of assets .these agreements can cover the purchase or sale of : 2022 entire businesses , 2022 loan portfolios , 2022 branch banks , 2022 partial interests in companies , or 2022 other types of assets .these agreements generally include indemnification provisions under which we indemnify the third parties to these agreements against a variety of risks to the indemnified parties as a result of the transaction in question .when pnc is the seller , the indemnification provisions will generally also provide the buyer with protection relating to the quality of the assets we are selling and the extent of any liabilities being assumed by the buyer .due to the nature of these indemnification provisions , we cannot quantify the total potential exposure to us resulting from them .we provide indemnification in connection with securities offering transactions in which we are involved .when we are the issuer of the securities , we provide indemnification to the underwriters or placement agents analogous to the indemnification provided to the purchasers of businesses from us , as described above .when we are an underwriter or placement agent , we provide a limited indemnification to the issuer related to our actions in connection with the offering and , if there are other underwriters , indemnification to the other underwriters intended to result in an appropriate sharing of the risk of participating in the offering .due to the nature of these indemnification provisions , we cannot quantify the total potential exposure to us resulting from them .in the ordinary course of business , we enter into certain types of agreements that include provisions for indemnifying third the pnc financial services group , inc .2013 form 10-k 197 .
|
what is the total unfunded commitments at december 31 , 2011 including private equity investments and other investments , in millions?
|
250
|
{
"answer": "250",
"decimal": 250,
"type": "float"
}
| |
note 8 .acquisitions during fiscal 2017 , cadence completed two business combinations for total cash consideration of $ 142.8 million , after taking into account cash acquired of $ 4.2 million .the total purchase consideration was allocated to the assets acquired and liabilities assumed based on their respective estimated fair values on the acquisition dates .cadence recorded a total of $ 76.4 million of acquired intangible assets ( of which $ 71.5 million represents in-process technology ) , $ 90.2 million of goodwill and $ 19.6 million of net liabilities consisting primarily of deferred tax liabilities .cadence will also make payments to certain employees , subject to continued employment and other performance-based conditions , through the fourth quarter of fiscal 2020 .during fiscal 2016 , cadence completed two business combinations for total cash consideration of $ 42.4 million , after taking into account cash acquired of $ 1.8 million .the total purchase consideration was allocated to the assets acquired and liabilities assumed based on their respective estimated fair values on the acquisition dates .cadence recorded a total of $ 23.6 million of goodwill , $ 23.2 million of acquired intangible assets and $ 2.6 million of net liabilities consisting primarily of deferred revenue .cadence will also make payments to certain employees , subject to continued employment and other conditions , through the second quarter of fiscal a trust for the benefit of the children of lip-bu tan , cadence 2019s chief executive officer ( 201cceo 201d ) and director , owned less than 3% ( 3 % ) of nusemi inc , one of the companies acquired in 2017 , and less than 2% ( 2 % ) of rocketick technologies ltd. , one of the companies acquired in 2016 .mr .tan and his wife serve as co-trustees of the trust and disclaim pecuniary and economic interest in the trust .the board of directors of cadence reviewed the transactions and concluded that it was in the best interests of cadence to proceed with the transactions .mr .tan recused himself from the board of directors 2019 discussion of the valuation of nusemi inc and rocketick technologies ltd .and on whether to proceed with the transactions .acquisition-related transaction costs there were no direct transaction costs associated with acquisitions during fiscal 2018 .transaction costs associated with acquisitions were $ 0.6 million and $ 1.1 million during fiscal 2017 and 2016 , respectively .these costs consist of professional fees and administrative costs and were expensed as incurred in cadence 2019s consolidated income statements .note 9 .goodwill and acquired intangibles goodwill the changes in the carrying amount of goodwill during fiscal 2018 and 2017 were as follows : gross carrying amount ( in thousands ) .
[['', 'gross carryingamount ( in thousands )'], ['balance as of december 31 2016', '$ 572764'], ['goodwill resulting from acquisitions', '90218'], ['effect of foreign currency translation', '3027'], ['balance as of december 30 2017', '666009'], ['effect of foreign currency translation', '-3737 ( 3737 )'], ['balance as of december 29 2018', '$ 662272']]
cadence completed its annual goodwill impairment test during the third quarter of fiscal 2018 and determined that the fair value of cadence 2019s single reporting unit substantially exceeded the carrying amount of its net assets and that no impairment existed. .
|
for acquisitions in 2017 what percentage of recorded a total acquired intangible assets was goodwill?
|
118%
|
{
"answer": "118%",
"decimal": 1.18,
"type": "percentage"
}
| |
item 7a .quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items .from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks .derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes .interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations .the majority of our debt ( approximately 93% ( 93 % ) and 89% ( 89 % ) as of december 31 , 2016 and 2015 , respectively ) bears interest at fixed rates .we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows .the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below .increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .
[['as of december 31,', 'increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates', 'increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates'], ['2016', '$ -26.3 ( 26.3 )', '$ 26.9'], ['2015', '-33.7 ( 33.7 )', '34.7']]
we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates .we do not have any interest rate swaps outstanding as of december 31 , 2016 .we had $ 1100.6 of cash , cash equivalents and marketable securities as of december 31 , 2016 that we generally invest in conservative , short-term bank deposits or securities .the interest income generated from these investments is subject to both domestic and foreign interest rate movements .during 2016 and 2015 , we had interest income of $ 20.1 and $ 22.8 , respectively .based on our 2016 results , a 100 basis-point increase or decrease in interest rates would affect our interest income by approximately $ 11.0 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2016 levels .foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates .since we report revenues and expenses in u.s .dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s .dollars ) from foreign operations .the foreign currencies that most impacted our results during 2016 included the british pound sterling and , to a lesser extent , the argentine peso , brazilian real and japanese yen .based on 2016 exchange rates and operating results , if the u.s .dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2016 levels .the functional currency of our foreign operations is generally their respective local currency .assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented .the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets .our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk .however , certain subsidiaries may enter into transactions in currencies other than their functional currency .assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement .currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses .we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures .we do not enter into foreign exchange contracts or other derivatives for speculative purposes. .
|
what is the statistical interval for 2017's interest income using 2016's interest income as a midpoint?
|
9.1 < interest income < 31.1 or the interest income has an interval between 9.1 and 31.1
|
{
"answer": "9.1 < interest income < 31.1 or the interest income has an interval between 9.1 and 31.1",
"decimal": null,
"type": "open_ended_answer"
}
|
to find the statistical interval you need to subtract the change and also add the change to the year 2016 . this will give you a range of the next year to come .
|
note 10 loan sales and securitizations loan sales we sell residential and commercial mortgage loans in loan securitization transactions sponsored by government national mortgage association ( gnma ) , fnma , and fhlmc and in certain instances to other third-party investors .gnma , fnma , and the fhlmc securitize our transferred loans into mortgage-backed securities for sale into the secondary market .generally , we do not retain any interest in the transferred loans other than mortgage servicing rights .refer to note 9 goodwill and other intangible assets for further discussion on our residential and commercial mortgage servicing rights assets .during 2009 , residential and commercial mortgage loans sold totaled $ 19.8 billion and $ 5.7 billion , respectively .during 2008 , commercial mortgage loans sold totaled $ 3.1 billion .there were no residential mortgage loans sales in 2008 as these activities were obtained through our acquisition of national city .our continuing involvement in these loan sales consists primarily of servicing and limited repurchase obligations for loan and servicer breaches in representations and warranties .generally , we hold a cleanup call repurchase option for loans sold with servicing retained to the other third-party investors .in certain circumstances as servicer , we advance principal and interest payments to the gses and other third-party investors and also may make collateral protection advances .our risk of loss in these servicing advances has historically been minimal .we maintain a liability for estimated losses on loans expected to be repurchased as a result of breaches in loan and servicer representations and warranties .we have also entered into recourse arrangements associated with commercial mortgage loans sold to fnma and fhlmc .refer to note 25 commitments and guarantees for further discussion on our repurchase liability and recourse arrangements .our maximum exposure to loss in our loan sale activities is limited to these repurchase and recourse obligations .in addition , for certain loans transferred in the gnma and fnma transactions , we hold an option to repurchase individual delinquent loans that meet certain criteria .without prior authorization from these gses , this option gives pnc the ability to repurchase the delinquent loan at par .under gaap , once we have the unilateral ability to repurchase the delinquent loan , effective control over the loan has been regained and we are required to recognize the loan and a corresponding repurchase liability on the balance sheet regardless of our intent to repurchase the loan .at december 31 , 2009 and december 31 , 2008 , the balance of our repurchase option asset and liability totaled $ 577 million and $ 476 million , respectively .securitizations in securitizations , loans are typically transferred to a qualifying special purpose entity ( qspe ) that is demonstrably distinct from the transferor to transfer the risk from our consolidated balance sheet .a qspe is a bankruptcy-remote trust allowed to perform only certain passive activities .in addition , these entities are self-liquidating and in certain instances are structured as real estate mortgage investment conduits ( remics ) for tax purposes .the qspes are generally financed by issuing certificates for various levels of senior and subordinated tranches .qspes are exempt from consolidation provided certain conditions are met .our securitization activities were primarily obtained through our acquisition of national city .credit card receivables , automobile , and residential mortgage loans were securitized through qspes sponsored by ncb .these qspes were financed primarily through the issuance and sale of beneficial interests to independent third parties and were not consolidated on our balance sheet at december 31 , 2009 or december 31 , 2008 .however , see note 1 accounting policies regarding accounting guidance that impacts the accounting for these qspes effective january 1 , 2010 .qualitative and quantitative information about the securitization qspes and our retained interests in these transactions follow .the following summarizes the assets and liabilities of the securitization qspes associated with securitization transactions that were outstanding at december 31 , 2009. .
[['in millions', 'december 31 2009 credit card', 'december 31 2009 mortgage', 'december 31 2009 credit card', 'mortgage'], ['assets ( a )', '$ 2368', '$ 232', '$ 2129', '$ 319'], ['liabilities', '1622', '232', '1824', '319']]
( a ) represents period-end outstanding principal balances of loans transferred to the securitization qspes .credit card loans at december 31 , 2009 , the credit card securitization series 2005-1 , 2006-1 , 2007-1 , and 2008-3 were outstanding .during the fourth quarter of 2009 , the 2008-1 and 2008-2 credit card securitization series matured .our continuing involvement in the securitized credit card receivables consists primarily of servicing and our holding of certain retained interests .servicing fees earned approximate current market rates for servicing fees ; therefore , no servicing asset or liability is recognized .we hold a clean-up call repurchase option to the extent a securitization series extends past its scheduled note principal payoff date .to the extent this occurs , the clean-up call option is triggered when the principal balance of the asset- backed notes of any series reaches 5% ( 5 % ) of the initial principal balance of the asset-backed notes issued at the securitization .
|
in 2009 what was the percentage of the total loans sold that was from commercial mortagages
|
22.4%
|
{
"answer": "22.4%",
"decimal": 0.22399999999999998,
"type": "percentage"
}
| |
notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have guaranteed certain obligations of our subsidiaries relating principally to operating leases and uncommitted lines of credit of certain subsidiaries .as of december 31 , 2018 and 2017 , the amount of parent company guarantees on lease obligations was $ 824.5 and $ 829.2 , respectively , the amount of parent company guarantees primarily relating to uncommitted lines of credit was $ 349.1 and $ 308.8 , respectively , and the amount of parent company guarantees related to daylight overdrafts , primarily utilized to manage intra-day overdrafts due to timing of transactions under cash pooling arrangements without resulting in incremental borrowings , was $ 207.8 and $ 182.2 , respectively .in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee .as of december 31 , 2018 , there were no material assets pledged as security for such parent company guarantees .contingent acquisition obligations the following table details the estimated future contingent acquisition obligations payable in cash as of december 31 .
[['', '2019', '2020', '2021', '2022', '2023', 'thereafter', 'total'], ['deferred acquisition payments', '$ 65.7', '$ 20.0', '$ 23.6', '$ 4.7', '$ 10.2', '$ 2.7', '$ 126.9'], ['redeemable noncontrolling interests and call options with affiliates1', '30.1', '30.6', '42.9', '5.7', '3.5', '2.5', '115.3'], ['total contingent acquisition payments', '$ 95.8', '$ 50.6', '$ 66.5', '$ 10.4', '$ 13.7', '$ 5.2', '$ 242.2']]
1 we have entered into certain acquisitions that contain both redeemable noncontrolling interests and call options with similar terms and conditions .the estimated amounts listed would be paid in the event of exercise at the earliest exercise date .we have certain redeemable noncontrolling interests that are exercisable at the discretion of the noncontrolling equity owners as of december 31 , 2018 .these estimated payments of $ 24.9 are included within the total payments expected to be made in 2019 , and will continue to be carried forward into 2020 or beyond until exercised or expired .redeemable noncontrolling interests are included in the table at current exercise price payable in cash , not at applicable redemption value , in accordance with the authoritative guidance for classification and measurement of redeemable securities .the majority of these payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revision in accordance with the terms of the respective agreements .see note 5 for further information relating to the payment structure of our acquisitions .legal matters we are involved in various legal proceedings , and subject to investigations , inspections , audits , inquiries and similar actions by governmental authorities arising in the normal course of business .the types of allegations that arise in connection with such legal proceedings vary in nature , but can include claims related to contract , employment , tax and intellectual property matters .we evaluate all cases each reporting period and record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount , or potential range , of loss can be reasonably estimated .in certain cases , we cannot reasonably estimate the potential loss because , for example , the litigation is in its early stages .while any outcome related to litigation or such governmental proceedings in which we are involved cannot be predicted with certainty , management believes that the outcome of these matters , individually and in the aggregate , will not have a material adverse effect on our financial condition , results of operations or cash flows .as previously disclosed , on april 10 , 2015 , a federal judge in brazil authorized the search of the records of an agency 2019s offices in s e3o paulo and brasilia , in connection with an ongoing investigation by brazilian authorities involving payments potentially connected to local government contracts .the company had previously investigated the matter and taken a number of remedial and disciplinary actions .the company has been in the process of concluding a settlement related to these matters with government agencies , and that settlement was fully executed in april 2018 .the company has previously provided for such settlement in its consolidated financial statements. .
|
what percentage of the total deferred acquisition payments were made in 2019?
|
51.77%
|
{
"answer": "51.77%",
"decimal": 0.5177,
"type": "percentage"
}
| |
part ii item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our common stock on the nyse for the years 2015 and 2014. .
[['2015', 'high', 'low'], ['quarter ended march 31', '$ 101.88', '$ 93.21'], ['quarter ended june 30', '98.64', '91.99'], ['quarter ended september 30', '101.54', '86.83'], ['quarter ended december 31', '104.12', '87.23'], ['2014', 'high', 'low'], ['quarter ended march 31', '$ 84.90', '$ 78.38'], ['quarter ended june 30', '90.73', '80.10'], ['quarter ended september 30', '99.90', '89.05'], ['quarter ended december 31', '106.31', '90.20']]
on february 19 , 2016 , the closing price of our common stock was $ 87.32 per share as reported on the nyse .as of february 19 , 2016 , we had 423897556 outstanding shares of common stock and 159 registered holders .dividends as a reit , we must annually distribute to our stockholders an amount equal to at least 90% ( 90 % ) of our reit taxable income ( determined before the deduction for distributed earnings and excluding any net capital gain ) .generally , we have distributed and expect to continue to distribute all or substantially all of our reit taxable income after taking into consideration our utilization of net operating losses ( 201cnols 201d ) .we have two series of preferred stock outstanding , 5.25% ( 5.25 % ) mandatory convertible preferred stock , series a , issued in may 2014 ( the 201cseries a preferred stock 201d ) , with a dividend rate of 5.25% ( 5.25 % ) , and the 5.50% ( 5.50 % ) mandatory convertible preferred stock , series b ( the 201cseries b preferred stock 201d ) , issued in march 2015 , with a dividend rate of 5.50% ( 5.50 % ) .dividends are payable quarterly in arrears , subject to declaration by our board of directors .the amount , timing and frequency of future distributions will be at the sole discretion of our board of directors and will be dependent upon various factors , a number of which may be beyond our control , including our financial condition and operating cash flows , the amount required to maintain our qualification for taxation as a reit and reduce any income and excise taxes that we otherwise would be required to pay , limitations on distributions in our existing and future debt and preferred equity instruments , our ability to utilize nols to offset our distribution requirements , limitations on our ability to fund distributions using cash generated through our trss and other factors that our board of directors may deem relevant .we have distributed an aggregate of approximately $ 2.3 billion to our common stockholders , including the dividend paid in january 2016 , primarily subject to taxation as ordinary income .during the year ended december 31 , 2015 , we declared the following cash distributions: .
|
for the= quarter ended march 31 what was the percent of the change in the stock price from the highest to the lowest
|
9.3%
|
{
"answer": "9.3%",
"decimal": 0.09300000000000001,
"type": "percentage"
}
| |
table of contents the following performance graph is not 201csoliciting material , 201d is not deemed filed with the sec , and is not to be incorporated by reference into any of valero 2019s filings under the securities act of 1933 or the securities exchange act of 1934 , as amended , respectively .this performance graph and the related textual information are based on historical data and are not indicative of future performance .the following line graph compares the cumulative total return 1 on an investment in our common stock against the cumulative total return of the s&p 500 composite index and an index of peer companies ( that we selected ) for the five-year period commencing december 31 , 2008 and ending december 31 , 2013 .our peer group comprises the following 11 companies : alon usa energy , inc. ; bp plc ; cvr energy , inc. ; delek us holdings , inc .( dk ) ; hollyfrontier corporation ; marathon petroleum corporation ; pbf energy inc .( pbf ) ; phillips 66 ; royal dutch shell plc ; tesoro corporation ; and western refining , inc .our peer group previously included hess corporation , but it has exited the refining business , and was replaced in our peer group by dk and pbf who are also engaged in refining operations .comparison of 5 year cumulative total return1 among valero energy corporation , the s&p 500 index , old peer group , and new peer group .
[['', '12/2008', '12/2009', '12/2010', '12/2011', '12/2012', '12/2013'], ['valero common stock', '$ 100.00', '$ 79.77', '$ 111.31', '$ 102.57', '$ 170.45', '$ 281.24'], ['s&p 500', '100.00', '126.46', '145.51', '148.59', '172.37', '228.19'], ['old peer group', '100.00', '126.98', '122.17', '127.90', '138.09', '170.45'], ['new peer group', '100.00', '127.95', '120.42', '129.69', '136.92', '166.57']]
____________ 1 assumes that an investment in valero common stock and each index was $ 100 on december 31 , 2008 .201ccumulative total return 201d is based on share price appreciation plus reinvestment of dividends from december 31 , 2008 through december 31 , 2013. .
|
what was the percentage growth of the valero common stock from 2009 to 2011
|
39.54%
|
{
"answer": "39.54%",
"decimal": 0.3954,
"type": "percentage"
}
| |
part iii item 10 .directors and executive officers of the registrant .pursuant to section 406 of the sarbanes-oxley act of 2002 , we have adopted a code of ethics for senior financial officers that applies to our principal executive officer and principal financial officer , principal accounting officer and controller , and other persons performing similar functions .our code of ethics for senior financial officers is publicly available on our website at www.hologic.com .we intend to satisfy the disclosure requirement under item 5.05 of current report on form 8-k regarding an amendment to , or waiver from , a provision of this code by posting such information on our website , at the address specified above .the additional information required by this item is incorporated by reference to our definitive proxy statement for our annual meeting of stockholders to be filed with the securities and exchange commission within 120 days after the close of our fiscal year .item 11 .executive compensation .the information required by this item is incorporated by reference to our definitive proxy statement for our annual meeting of stockholders to be filed with the securities and exchange commission within 120 days after the close of our fiscal year .item 12 .security ownership of certain beneficial owners and management and related stockholder matters .we maintain a number of equity compensation plans for employees , officers , directors and others whose efforts contribute to our success .the table below sets forth certain information as our fiscal year ended september 24 , 2005 regarding the shares of our common stock available for grant or granted under stock option plans that ( i ) were approved by our stockholders , and ( ii ) were not approved by our stockholders .the number of securities and the exercise price of the outstanding securities have been adjusted to reflect our two-for-one stock split effected on november 30 , 2005 .equity compensation plan information plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ( 1 ) .............................3841008 $ 7.84 1016520 equity compensation plans not approved by security holders ( 2 ) ......................863604 $ 6.44 0 .
[['plan category', 'number of securities to be issued upon exerciseof outstanding options warrants and rights ( a )', 'weighted-average exercise price of outstanding options warrants and rights ( b )', 'number of securities remaining available for future issuance under equitycompensation plans ( excluding securities reflected in column ( a ) ) ( c )'], ['equity compensation plans approved by security holders ( 1 )', '3841008', '$ 7.84', '1016520'], ['equity compensation plans not approved by security holders ( 2 )', '863604', '$ 6.44', '0'], ['total', '4704612', '$ 7.58', '1016520']]
( 1 ) includes the following plans : 1986 combination stock option plan ; amended and restated 1990 non-employee director stock option plan ; 1995 combination stock option plan ; amended and restated 1999 equity incentive plan ; and 2000 employee stock purchase plan .also includes the following plans which we assumed in connection with our acquisition of fluoroscan imaging systems in 1996 : fluoroscan imaging systems , inc .1994 amended and restated stock incentive plan and fluoroscan imaging systems , inc .1995 stock incentive plan .for a description of these plans , please refer to footnote 5 contained in our consolidated financial statements. .
|
what portion of the total number of issues securities is not approved by security holders?
|
18.4%
|
{
"answer": "18.4%",
"decimal": 0.184,
"type": "percentage"
}
| |
aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support , and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles , and related technologies .aeronautics 2019 major programs include the f-35 lightning ii joint strike fighter , c-130 hercules , f-16 fighting falcon , f-22 raptor , and the c-5m super galaxy .aeronautics 2019 operating results included the following ( in millions ) : .
[['', '2013', '2012', '2011'], ['net sales', '$ 14123', '$ 14953', '$ 14362'], ['operating profit', '1612', '1699', '1630'], ['operating margins', '11.4% ( 11.4 % )', '11.4% ( 11.4 % )', '11.3% ( 11.3 % )'], ['backlog at year-end', '28000', '30100', '30500']]
2013 compared to 2012 aeronautics 2019 net sales for 2013 decreased $ 830 million , or 6% ( 6 % ) , compared to 2012 .the decrease was primarily attributable to lower net sales of approximately $ 530 million for the f-16 program due to fewer aircraft deliveries ( 13 aircraft delivered in 2013 compared to 37 delivered in 2012 ) partially offset by aircraft configuration mix ; about $ 385 million for the c-130 program due to fewer aircraft deliveries ( 25 aircraft delivered in 2013 compared to 34 in 2012 ) partially offset by increased sustainment activities ; approximately $ 255 million for the f-22 program , which includes about $ 205 million due to decreased production volume as final aircraft deliveries were completed during the second quarter of 2012 and $ 50 million from the favorable resolution of a contractual matter during the second quarter of 2012 ; and about $ 270 million for various other programs ( primarily sustainment activities ) due to decreased volume .the decreases were partially offset by higher net sales of about $ 295 million for f-35 production contracts due to increased production volume and risk retirements ; approximately $ 245 million for the c-5 program due to increased aircraft deliveries ( six aircraft delivered in 2013 compared to four in 2012 ) and other modernization activities ; and about $ 70 million for the f-35 development contract due to increased volume .aeronautics 2019 operating profit for 2013 decreased $ 87 million , or 5% ( 5 % ) , compared to 2012 .the decrease was primarily attributable to lower operating profit of about $ 85 million for the f-22 program , which includes approximately $ 50 million from the favorable resolution of a contractual matter in the second quarter of 2012 and about $ 35 million due to decreased risk retirements and production volume ; approximately $ 70 million for the c-130 program due to lower risk retirements and fewer deliveries partially offset by increased sustainment activities ; about $ 65 million for the c-5 program due to the inception-to-date effect of reducing the profit booking rate in the third quarter of 2013 and lower risk retirements ; approximately $ 35 million for the f-16 program due to fewer aircraft deliveries partially offset by increased sustainment activity and aircraft configuration mix .the decreases were partially offset by higher operating profit of approximately $ 180 million for f-35 production contracts due to increased risk retirements and volume .operating profit was comparable for the f-35 development contract and included adjustments of approximately $ 85 million to reflect the inception-to-date impacts of the downward revisions to the profit booking rate in both 2013 and 2012 .adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 75 million lower for 2013 compared to 2012 compared to 2011 aeronautics 2019 net sales for 2012 increased $ 591 million , or 4% ( 4 % ) , compared to 2011 .the increase was attributable to higher net sales of approximately $ 745 million from f-35 production contracts principally due to increased production volume ; about $ 285 million from f-16 programs primarily due to higher aircraft deliveries ( 37 f-16 aircraft delivered in 2012 compared to 22 in 2011 ) partially offset by lower volume on sustainment activities due to the completion of modification programs for certain international customers ; and approximately $ 140 million from c-5 programs due to higher aircraft deliveries ( four c-5m aircraft delivered in 2012 compared to two in 2011 ) .partially offsetting the increases were lower net sales of approximately $ 365 million from decreased production volume and lower risk retirements on the f-22 program as final aircraft deliveries were completed in the second quarter of 2012 ; approximately $ 110 million from the f-35 development contract primarily due to the inception-to-date effect of reducing the profit booking rate in the second quarter of 2012 and to a lesser extent lower volume ; and about $ 95 million from a decrease in volume on other sustainment activities partially offset by various other aeronautics programs due to higher volume .net sales for c-130 programs were comparable to 2011 as a decline in sustainment activities largely was offset by increased aircraft deliveries. .
|
what was the average net sales in millions for aeronautics from 2001 to 2013?
|
14479
|
{
"answer": "14479",
"decimal": 14479,
"type": "float"
}
| |
mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the following table summarizes expected benefit payments through 2019 for the pension plans , including those payments expected to be paid from the company 2019s general assets .since the majority of the benefit payments are made in the form of lump-sum distributions , actual benefit payments may differ from expected benefit payments. .
[['2010', '$ 18181'], ['2011', '27090'], ['2012', '21548'], ['2013', '25513'], ['2014', '24002'], ['2015-2019', '128494']]
substantially all of the company 2019s u.s .employees are eligible to participate in a defined contribution savings plan ( the 201csavings plan 201d ) sponsored by the company .the savings plan allows employees to contribute a portion of their base compensation on a pre-tax and after-tax basis in accordance with specified guidelines .the company matches a percentage of employees 2019 contributions up to certain limits .in 2007 and prior years , the company could also contribute to the savings plan a discretionary profit sharing component linked to company performance during the prior year .beginning in 2008 , the discretionary profit sharing amount related to prior year company performance was paid directly to employees as a short-term cash incentive bonus rather than as a contribution to the savings plan .in addition , the company has several defined contribution plans outside of the united states .the company 2019s contribution expense related to all of its defined contribution plans was $ 40627 , $ 35341 and $ 26996 for 2009 , 2008 and 2007 , respectively .note 13 .postemployment and postretirement benefits the company maintains a postretirement plan ( the 201cpostretirement plan 201d ) providing health coverage and life insurance benefits for substantially all of its u.s .employees hired before july 1 , 2007 .the company amended the life insurance benefits under the postretirement plan effective january 1 , 2007 .the impact , net of taxes , of this amendment was an increase of $ 1715 to accumulated other comprehensive income in 2007 .in 2009 , the company recorded a $ 3944 benefit expense as a result of enhanced postretirement medical benefits under the postretirement plan provided to employees that chose to participate in a voluntary transition program. .
|
what was the ratio of the company 2019s contribution expense related to all of its defined contribution plans for 2009 to 2008
|
1.15
|
{
"answer": "1.15",
"decimal": 1.15,
"type": "float"
}
| |
notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) sales of businesses and investments 2013 primarily includes realized gains and losses relating to the sales of businesses , cumulative translation adjustment balances from the liquidation of entities and sales of marketable securities and investments in publicly traded and privately held companies in our rabbi trusts .during 2009 , we realized a gain of $ 15.2 related to the sale of an investment in our rabbi trusts , which was partially offset by losses realized from the sale of various businesses .losses in 2007 primarily related to the sale of several businesses within draftfcb for a loss of $ 9.3 and charges at lowe of $ 7.8 as a result of the realization of cumulative translation adjustment balances from the liquidation of several businesses .vendor discounts and credit adjustments 2013 we are in the process of settling our liabilities related to vendor discounts and credits established during the restatement we presented in our 2004 annual report on form 10-k .these adjustments reflect the reversal of certain of these liabilities as a result of settlements with clients or vendors or where the statute of limitations has lapsed .litigation settlement 2013 during may 2008 , the sec concluded its investigation that began in 2002 into our financial reporting practices , resulting in a settlement charge of $ 12.0 .investment impairments 2013 in 2007 we realized an other-than-temporary charge of $ 5.8 relating to a $ 12.5 investment in auction rate securities , representing our total investment in auction rate securities .see note 12 for further information .note 5 : intangible assets goodwill goodwill is the excess purchase price remaining from an acquisition after an allocation of purchase price has been made to identifiable assets acquired and liabilities assumed based on estimated fair values .the changes in the carrying value of goodwill for our segments , integrated agency networks ( 201cian 201d ) and constituency management group ( 201ccmg 201d ) , for the years ended december 31 , 2009 and 2008 are listed below. .
[['', 'ian', 'cmg', 'total 1'], ['balance as of december 31 2007', '$ 2789.7', '$ 441.9', '$ 3231.6'], ['current year acquisitions', '99.5', '1.8', '101.3'], ['contingent and deferred payments for prior acquisitions', '28.9', '1.1', '30.0'], ['other ( primarily foreign currency translation )', '-128.1 ( 128.1 )', '-13.9 ( 13.9 )', '-142.0 ( 142.0 )'], ['balance as of december 31 2008', '$ 2790.0', '$ 430.9', '$ 3220.9'], ['current year acquisitions2', '5.2', '2014', '5.2'], ['contingent and deferred payments for prior acquisitions', '14.2', '2014', '14.2'], ['other ( primarily foreign currency translation )', '76.2', '4.5', '80.7'], ['balance as of december 31 2009', '$ 2885.6', '$ 435.4', '$ 3321.0']]
1 for all periods presented we have not recorded a goodwill impairment charge .2 for acquisitions completed after january 1 , 2009 , amount includes contingent and deferred payments , which are recorded at fair value on the acquisition date .see note 6 for further information .see note 1 for further information regarding our annual impairment methodology .other intangible assets included in other intangible assets are assets with indefinite lives not subject to amortization and assets with definite lives subject to amortization .other intangible assets primarily include customer lists and trade names .intangible assets with definitive lives subject to amortization are amortized on a straight-line basis with estimated useful lives generally between 7 and 15 years .amortization expense for other intangible assets for the years ended december 31 , 2009 , 2008 and 2007 was $ 19.3 , $ 14.4 and $ 8.5 , respectively .the following table provides a summary of other intangible assets , which are included in other assets on our consolidated balance sheets. .
|
what was the percentage change in the carrying value of goodwill for integrated agency networks from 2008 to 2009
|
3.4%
|
{
"answer": "3.4%",
"decimal": 0.034,
"type": "percentage"
}
| |
echostar communications corporation notes to consolidated financial statements - continued closing price of the class a common stock on the last business day of each calendar quarter in which such shares of class a common stock are deemed sold to an employee under the espp .the espp shall terminate upon the first to occur of ( i ) october 1 , 2007 or ( ii ) the date on which the espp is terminated by the board of directors .during 2000 , 2001 and 2002 employees purchased approximately 58000 ; 80000 and 108000 shares of class a common stock through the espp , respectively .401 ( k ) employee savings plan echostar sponsors a 401 ( k ) employee savings plan ( the 201c401 ( k ) plan 201d ) for eligible employees .voluntary employee contributions to the 401 ( k ) plan may be matched 50% ( 50 % ) by echostar , subject to a maximum annual contribution by echostar of $ 1000 per employee .matching 401 ( k ) contributions totaled approximately $ 1.6 million , $ 2.1 million and $ 2.4 million during the years ended december 31 , 2000 , 2001 and 2002 , respectively .echostar also may make an annual discretionary contribution to the plan with approval by echostar 2019s board of directors , subject to the maximum deductible limit provided by the internal revenue code of 1986 , as amended .these contributions may be made in cash or in echostar stock .forfeitures of unvested participant balances which are retained by the 401 ( k ) plan may be used to fund matching and discretionary contributions .expense recognized relating to discretionary contributions was approximately $ 7 million , $ 225 thousand and $ 17 million during the years ended december 31 , 2000 , 2001 and 2002 , respectively .9 .commitments and contingencies leases future minimum lease payments under noncancelable operating leases as of december 31 , 2002 , are as follows ( in thousands ) : year ending december 31 .
[['2003', '$ 17274'], ['2004', '14424'], ['2005', '11285'], ['2006', '7698'], ['2007', '3668'], ['thereafter', '1650'], ['total minimum lease payments', '55999']]
total rent expense for operating leases approximated $ 9 million , $ 14 million and $ 16 million in 2000 , 2001 and 2002 , respectively .purchase commitments as of december 31 , 2002 , echostar 2019s purchase commitments totaled approximately $ 359 million .the majority of these commitments relate to echostar receiver systems and related components .all of the purchases related to these commitments are expected to be made during 2003 .echostar expects to finance these purchases from existing unrestricted cash balances and future cash flows generated from operations .patents and intellectual property many entities , including some of echostar 2019s competitors , now have and may in the future obtain patents and other intellectual property rights that cover or affect products or services directly or indirectly related to those that echostar offers .echostar may not be aware of all patents and other intellectual property rights that its products may potentially infringe .damages in patent infringement cases can include a tripling of actual damages in certain cases .further , echostar cannot estimate the extent to which it may be required in the future to obtain licenses with respect to .
|
what is the expected growth rate in rent expense for operating leases in 2003?
|
8.1%
|
{
"answer": "8.1%",
"decimal": 0.081,
"type": "percentage"
}
| |
the hartford financial services group , inc .notes to consolidated financial statements ( continued ) 5 .investments and derivative instruments ( continued ) collateral arrangements the company enters into various collateral arrangements in connection with its derivative instruments , which require both the pledging and accepting of collateral .as of december 31 , 2011 and 2010 , collateral pledged having a fair value of $ 1.1 billion and $ 790 , respectively , was included in fixed maturities , afs , in the consolidated balance sheets .from time to time , the company enters into secured borrowing arrangements as a means to increase net investment income .the company received cash collateral of $ 33 as of december 31 , 2011 and 2010 .the following table presents the classification and carrying amount of loaned securities and derivative instruments collateral pledged. .
[['', 'december 31 2011', 'december 31 2010'], ['fixed maturities afs', '$ 1086', '$ 823'], ['short-term investments', '199', '2014'], ['total collateral pledged', '$ 1285', '$ 823']]
as of december 31 , 2011 and 2010 , the company had accepted collateral with a fair value of $ 2.6 billion and $ 1.5 billion , respectively , of which $ 2.0 billion and $ 1.1 billion , respectively , was cash collateral which was invested and recorded in the consolidated balance sheets in fixed maturities and short-term investments with corresponding amounts recorded in other assets and other liabilities .the company is only permitted by contract to sell or repledge the noncash collateral in the event of a default by the counterparty .as of december 31 , 2011 and 2010 , noncash collateral accepted was held in separate custodial accounts and was not included in the company 2019s consolidated balance sheets .securities on deposit with states the company is required by law to deposit securities with government agencies in states where it conducts business .as of december 31 , 2011 and 2010 , the fair value of securities on deposit was approximately $ 1.6 billion and $ 1.4 billion , respectively. .
|
what was the ratio of the collateral pledged in 2011 to 2010
|
1.39
|
{
"answer": "1.39",
"decimal": 1.39,
"type": "float"
}
| |
the impairment tests performed for intangible assets as of july 31 , 2013 , 2012 and 2011 indicated no impairment charges were required .estimated amortization expense for finite-lived intangible assets for each of the five succeeding years is as follows : ( in millions ) .
[['year', 'amount'], ['2014', '$ 156'], ['2015', '126'], ['2016', '91'], ['2017', '74'], ['2018', '24']]
indefinite-lived acquired management contracts in july 2013 , in connection with the credit suisse etf transaction , the company acquired $ 231 million of indefinite-lived management contracts .in march 2012 , in connection with the claymore transaction , the company acquired $ 163 million of indefinite-lived etp management contracts .finite-lived acquired management contracts in october 2013 , in connection with the mgpa transaction , the company acquired $ 29 million of finite-lived management contracts with a weighted-average estimated useful life of approximately eight years .in september 2012 , in connection with the srpep transaction , the company acquired $ 40 million of finite- lived management contracts with a weighted-average estimated useful life of approximately 10 years .11 .other assets at march 31 , 2013 , blackrock held an approximately one- third economic equity interest in private national mortgage acceptance company , llc ( 201cpnmac 201d ) , which is accounted for as an equity method investment and is included in other assets on the consolidated statements of financial condition .on may 8 , 2013 , pennymac became the sole managing member of pnmac in connection with an initial public offering of pennymac ( the 201cpennymac ipo 201d ) .as a result of the pennymac ipo , blackrock recorded a noncash , nonoperating pre-tax gain of $ 39 million related to the carrying value of its equity method investment .subsequent to the pennymac ipo , the company contributed 6.1 million units of its investment to a new donor advised fund ( the 201ccharitable contribution 201d ) .the fair value of the charitable contribution was $ 124 million and is included in general and administration expenses on the consolidated statements of income .in connection with the charitable contribution , the company also recorded a noncash , nonoperating pre-tax gain of $ 80 million related to the contributed investment and a tax benefit of approximately $ 48 million .the carrying value and fair value of the company 2019s remaining interest ( approximately 20% ( 20 % ) or 16 million shares and units ) was approximately $ 127 million and $ 273 million , respectively , at december 31 , 2013 .the fair value of the company 2019s interest reflected the pennymac stock price at december 31 , 2013 ( level 1 input ) .12 .borrowings short-term borrowings the carrying value of short-term borrowings at december 31 , 2012 included $ 100 million under the 2012 revolving credit facility .2013 revolving credit facility .in march 2011 , the company entered into a five-year $ 3.5 billion unsecured revolving credit facility ( the 201c2011 credit facility 201d ) .in march 2012 , the 2011 credit facility was amended to extend the maturity date by one year to march 2017 and in april 2012 the amount of the aggregate commitment was increased to $ 3.785 billion ( the 201c2012 credit facility 201d ) .in march 2013 , the company 2019s credit facility was amended to extend the maturity date by one year to march 2018 and the amount of the aggregate commitment was increased to $ 3.990 billion ( the 201c2013 credit facility 201d ) .the 2013 credit facility permits the company to request up to an additional $ 1.0 billion of borrowing capacity , subject to lender credit approval , increasing the overall size of the 2013 credit facility to an aggregate principal amount not to exceed $ 4.990 billion .interest on borrowings outstanding accrues at a rate based on the applicable london interbank offered rate plus a spread .the 2013 credit facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to earnings before interest , taxes , depreciation and amortization , where net debt equals total debt less unrestricted cash ) of 3 to 1 , which was satisfied with a ratio of less than 1 to 1 at december 31 , 2013 .the 2013 credit facility provides back- up liquidity , funds ongoing working capital for general corporate purposes and funds various investment opportunities .at december 31 , 2013 , the company had no amount outstanding under the 2013 credit facility .commercial paper program .on october 14 , 2009 , blackrock established a commercial paper program ( the 201ccp program 201d ) under which the company could issue unsecured commercial paper notes ( the 201ccp notes 201d ) on a private placement basis up to a maximum aggregate amount outstanding at any time of $ 3.0 billion .on may 13 , 2011 , blackrock increased the maximum aggregate amount that may be borrowed under the cp program to $ 3.5 billion .on may 17 , 2012 , blackrock increased the maximum aggregate amount to $ 3.785 billion .in april 2013 , blackrock increased the maximum aggregate amount for which the company could issue unsecured cp notes on a private-placement basis up to a maximum aggregate amount outstanding at any time of $ 3.990 billion .the commercial paper program is currently supported by the 2013 credit facility .at december 31 , 2013 and 2012 , blackrock had no cp notes outstanding. .
|
what is the percent change in estimated amortization expense for finite-lived intangible assets from 2014 to 2015?
|
23.8%
|
{
"answer": "23.8%",
"decimal": 0.23800000000000002,
"type": "percentage"
}
| |
as of december 31 , 2014 and 2013 , our liabilities associated with unrecognized tax benefits are not material .we and our subsidiaries file income tax returns in the u.s .federal jurisdiction and various foreign jurisdictions .with few exceptions , the statute of limitations is no longer open for u.s .federal or non-u.s .income tax examinations for the years before 2011 , other than with respect to refunds .u.s .income taxes and foreign withholding taxes have not been provided on earnings of $ 291 million , $ 222 million and $ 211 million that have not been distributed by our non-u.s .companies as of december 31 , 2014 , 2013 and 2012 .our intention is to permanently reinvest these earnings , thereby indefinitely postponing their remittance to the u.s .if these earnings had been remitted , we estimate that the additional income taxes after foreign tax credits would have been approximately $ 55 million in 2014 , $ 50 million in 2013 and $ 45 million in 2012 .our federal and foreign income tax payments , net of refunds received , were $ 1.5 billion in 2014 , $ 787 million in 2013 and $ 890 million in 2012 .our 2014 and 2013 net payments reflect a $ 200 million and $ 550 million refund from the irs primarily attributable to our tax-deductible discretionary pension contributions during the fourth quarters of 2013 and 2012 , and our 2012 net payments reflect a $ 153 million refund from the irs related to a 2011 capital loss carryback .note 8 2013 debt our long-term debt consisted of the following ( in millions ) : .
[['', '2014', '2013'], ['notes with rates from 2.13% ( 2.13 % ) to 6.15% ( 6.15 % ) due 2016 to 2042', '$ 5642', '$ 5642'], ['notes with rates from 7.00% ( 7.00 % ) to 7.75% ( 7.75 % ) due 2016 to 2036', '916', '916'], ['other debt', '483', '476'], ['total long-term debt', '7041', '7034'], ['less : unamortized discounts', '-872 ( 872 )', '-882 ( 882 )'], ['total long-term debt net', '$ 6169', '$ 6152']]
in august 2014 , we entered into a new $ 1.5 billion revolving credit facility with a syndicate of banks and concurrently terminated our existing $ 1.5 billion revolving credit facility which was scheduled to expire in august 2016 .the new credit facility expires august 2019 and we may request and the banks may grant , at their discretion , an increase to the new credit facility of up to an additional $ 500 million .the credit facility also includes a sublimit of up to $ 300 million available for the issuance of letters of credit .there were no borrowings outstanding under the new facility through december 31 , 2014 .borrowings under the new credit facility would be unsecured and bear interest at rates based , at our option , on a eurodollar rate or a base rate , as defined in the new credit facility .each bank 2019s obligation to make loans under the credit facility is subject to , among other things , our compliance with various representations , warranties and covenants , including covenants limiting our ability and certain of our subsidiaries 2019 ability to encumber assets and a covenant not to exceed a maximum leverage ratio , as defined in the credit facility .the leverage ratio covenant excludes the adjustments recognized in stockholders 2019 equity related to postretirement benefit plans .as of december 31 , 2014 , we were in compliance with all covenants contained in the credit facility , as well as in our debt agreements .we have agreements in place with financial institutions to provide for the issuance of commercial paper .there were no commercial paper borrowings outstanding during 2014 or 2013 .if we were to issue commercial paper , the borrowings would be supported by the credit facility .in april 2013 , we repaid $ 150 million of long-term notes with a fixed interest rate of 7.38% ( 7.38 % ) due to their scheduled maturities .during the next five years , we have scheduled long-term debt maturities of $ 952 million due in 2016 and $ 900 million due in 2019 .interest payments were $ 326 million in 2014 , $ 340 million in 2013 and $ 378 million in 2012 .all of our existing unsecured and unsubordinated indebtedness rank equally in right of payment .note 9 2013 postretirement plans defined benefit pension plans and retiree medical and life insurance plans many of our employees are covered by qualified defined benefit pension plans and we provide certain health care and life insurance benefits to eligible retirees ( collectively , postretirement benefit plans ) .we also sponsor nonqualified defined benefit pension plans to provide for benefits in excess of qualified plan limits .non-union represented employees hired after december 2005 do not participate in our qualified defined benefit pension plans , but are eligible to participate in a qualified .
|
what was the average total long-term debt from 2013 to 2014
|
6160.5
|
{
"answer": "6160.5",
"decimal": 6160.5,
"type": "float"
}
| |
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 , 2017 and 2016 , the outstanding balance on the loan was $ 40.0 million and $ 42.0 million , respectively .the weighted average interest rate on the loan was 2.5% ( 2.5 % ) and 2.0% ( 2.0 % ) for the years ended december 31 , 2017 and 2016 , respectively .the following are the scheduled maturities of long term debt as of december 31 , 2017 : ( in thousands ) .
[['2018', '$ 27000'], ['2019', '63000'], ['2020', '25000'], ['2021', '86250'], ['2022', '2014'], ['2023 and thereafter', '600000'], ['total scheduled maturities of long term debt', '$ 801250'], ['current maturities of long term debt', '$ 27000']]
interest expense , net was $ 34.5 million , $ 26.4 million , and $ 14.6 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .interest expense includes the amortization of deferred financing costs , bank fees , capital and built-to-suit lease interest and interest expense under the credit and other long term debt facilities .amortization of deferred financing costs was $ 1.3 million , $ 1.2 million , and $ 0.8 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .the company monitors the financial health and stability of its lenders under the credit and other long term debt facilities , however during any period of significant instability in the credit markets lenders could be negatively impacted in their ability to perform under these facilities .7 .commitments and contingencies obligations under operating leases the company leases warehouse space , office facilities , space for its brand and factory house stores and certain equipment under non-cancelable operating leases .the leases expire at various dates through 2033 , excluding extensions at the company 2019s option , and include provisions for rental adjustments .the table below includes executed lease agreements for brand and factory house stores that the company did not yet occupy as of december 31 , 2017 and does not include contingent rent the company may incur at its stores based on future sales above a specified minimum or payments made for maintenance , insurance and real estate taxes .the following is a schedule of future minimum lease payments for non-cancelable real property operating leases as of december 31 , 2017 as well as .
|
what is the percentage change in the balance of outstanding loan from 2016 to 2017?
|
5.0%
|
{
"answer": "5.0%",
"decimal": 0.05,
"type": "percentage"
}
| |
of exercise for stock options exercised or at period end for outstanding stock options , less the applicable exercise price .the company issued new shares to satisfy exercised stock options .compensation expense the company recorded $ 43 million , $ 34 million , and $ 44 million of expense related to stock awards for the years ended december 31 , 2015 , 2014 , and 2013 , respectively .the company recorded $ 17 million , $ 13 million , and $ 17 million as a tax benefit related to stock awards and stock options for the years ended december 31 , 2015 , 2014 , and 2013 , respectively .the company recognized tax benefits for the years ended december 31 , 2015 , 2014 , and 2013 , of $ 41 million , $ 53 million , and $ 32 million , respectively , from the issuance of stock in settlement of stock awards , and $ 4 million , $ 5 million , and $ 4 million for the years ended december 31 , 2015 , 2014 , and 2013 , respectively , from the exercise of stock options .unrecognized compensation expense as of december 31 , 2015 , the company had less than $ 1 million of unrecognized compensation expense associated with rsrs granted in 2015 and 2014 , which will be recognized over a weighted average period of 1.0 year , and $ 25 million of unrecognized expense associated with rpsrs granted in 2015 , 2014 , and 2013 , which will be recognized over a weighted average period of 0.6 years .as of december 31 , 2015 , the company had no unrecognized compensation expense related to stock options .compensation expense for stock options was fully recognized as of december 31 , 2013 .20 .unaudited selected quarterly data unaudited quarterly financial results for the years ended december 31 , 2015 and 2014 , are set forth in the following tables: .
[['( $ in millions except per share amounts )', 'year ended december 31 2015 1st qtr', 'year ended december 31 2015 2nd qtr ( 1 )', 'year ended december 31 2015 3rd qtr', 'year ended december 31 2015 4th qtr ( 2 )'], ['sales and service revenues', '$ 1570', '$ 1745', '$ 1800', '$ 1905'], ['operating income ( loss )', '156', '269', '200', '144'], ['earnings ( loss ) before income taxes', '133', '244', '175', '80'], ['net earnings ( loss )', '87', '156', '111', '50'], ['dividends declared per share', '$ 0.40', '$ 0.40', '$ 0.40', '$ 0.50'], ['basic earnings ( loss ) per share', '$ 1.80', '$ 3.22', '$ 2.31', '$ 1.07'], ['diluted earnings ( loss ) per share', '$ 1.79', '$ 3.20', '$ 2.29', '$ 1.06']]
( 1 ) in the second quarter of 2015 , the company recorded a $ 59 million goodwill impairment charge .during the same period , the company recorded $ 136 million of operating income as a result of the aon settlement .( 2 ) in the fourth quarter of 2015 , the company recorded $ 16 million goodwill impairment and $ 27 million intangible asset impairment charges. .
|
what is the total revenue for the fiscal year of 2015?
|
7020
|
{
"answer": "7020",
"decimal": 7020,
"type": "float"
}
| |
a valuation allowance totaling $ 43.9 million , $ 40.4 million and $ 40.1 million as of 2012 , 2011 and 2010 year end , respectively , has been established for deferred income tax assets primarily related to certain subsidiary loss carryforwards that may not be realized .realization of the net deferred income tax assets is dependent on generating sufficient taxable income prior to their expiration .although realization is not assured , management believes it is more- likely-than-not that the net deferred income tax assets will be realized .the amount of the net deferred income tax assets considered realizable , however , could change in the near term if estimates of future taxable income during the carryforward period fluctuate .the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for 2012 , 2011 and ( amounts in millions ) 2012 2011 2010 .
[['( amounts in millions )', '2012', '2011', '2010'], ['unrecognized tax benefits at beginning of year', '$ 11.0', '$ 11.1', '$ 17.5'], ['gross increases 2013 tax positions in prior periods', '0.7', '0.5', '0.6'], ['gross decreases 2013 tax positions in prior periods', '-4.9 ( 4.9 )', '-0.4 ( 0.4 )', '-0.4 ( 0.4 )'], ['gross increases 2013 tax positions in the current period', '1.2', '2.8', '3.1'], ['settlements with taxing authorities', '2013', '-1.2 ( 1.2 )', '-9.5 ( 9.5 )'], ['increase related to acquired business', '2013', '2013', '0.4'], ['lapsing of statutes of limitations', '-1.2 ( 1.2 )', '-1.8 ( 1.8 )', '-0.6 ( 0.6 )'], ['unrecognized tax benefits at end of year', '$ 6.8', '$ 11.0', '$ 11.1']]
of the $ 6.8 million , $ 11.0 million and $ 11.1 million of unrecognized tax benefits as of 2012 , 2011 and 2010 year end , respectively , approximately $ 4.1 million , $ 9.1 million and $ 11.1 million , respectively , would impact the effective income tax rate if recognized .interest and penalties related to unrecognized tax benefits are recorded in income tax expense .during 2012 and 2011 , the company reversed a net $ 0.5 million and $ 1.4 million , respectively , of interest and penalties to income associated with unrecognized tax benefits .as of 2012 , 2011 and 2010 year end , the company has provided for $ 1.6 million , $ 1.6 million and $ 2.8 million , respectively , of accrued interest and penalties related to unrecognized tax benefits .the unrecognized tax benefits and related accrued interest and penalties are included in 201cother long-term liabilities 201d on the accompanying consolidated balance sheets .snap-on and its subsidiaries file income tax returns in the united states and in various state , local and foreign jurisdictions .it is reasonably possible that certain unrecognized tax benefits may either be settled with taxing authorities or the statutes of limitations for such items may lapse within the next 12 months , causing snap-on 2019s gross unrecognized tax benefits to decrease by a range of zero to $ 2.4 million .over the next 12 months , snap-on anticipates taking uncertain tax positions on various tax returns for which the related tax benefit does not meet the recognition threshold .accordingly , snap-on 2019s gross unrecognized tax benefits may increase by a range of zero to $ 1.6 million over the next 12 months for uncertain tax positions expected to be taken in future tax filings .with few exceptions , snap-on is no longer subject to u.s .federal and state/local income tax examinations by tax authorities for years prior to 2008 , and snap-on is no longer subject to non-u.s .income tax examinations by tax authorities for years prior to 2006 .the undistributed earnings of all non-u.s .subsidiaries totaled $ 492.2 million , $ 416.4 million and $ 386.5 million as of 2012 , 2011 and 2010 year end , respectively .snap-on has not provided any deferred taxes on these undistributed earnings as it considers the undistributed earnings to be permanently invested .determination of the amount of unrecognized deferred income tax liability related to these earnings is not practicable .2012 annual report 83 .
|
what was the average unrecognized tax benefits at end of year from 2010 to 2012
|
9.63
|
{
"answer": "9.63",
"decimal": 9.63,
"type": "float"
}
| |
rm&t segment we do not attempt to qualify commodity derivative instruments used in our rm&t operations for hedge accounting .as a result , we recognize all changes in the fair value of derivatives used in our rm&t operations in income , although most of these derivatives have an underlying physical commodity transaction .generally , derivative losses occur when market prices increase , which are offset by gains on the underlying physical commodity transactions .conversely , derivative gains occur when market prices decrease , which are offset by losses on the underlying physical commodity transactions .derivative gains or losses included in rm&t segment income for each of the last three years are summarized in the following table : strategy ( in millions ) 2004 2003 2002 .
[['strategy ( in millions )', '2004', '2003', '2002'], ['mitigate price risk', '$ -106 ( 106 )', '$ -112 ( 112 )', '$ -95 ( 95 )'], ['protect carrying values of excess inventories', '-98 ( 98 )', '-57 ( 57 )', '-41 ( 41 )'], ['protect margin on fixed price sales', '8', '5', '11'], ['protect crack spread values', '-76 ( 76 )', '6', '1'], ['trading activities', '8', '-4 ( 4 )', '2013'], ['total net derivative losses', '$ -264 ( 264 )', '$ -162 ( 162 )', '$ -124 ( 124 )']]
during 2004 , using derivative instruments map sold crack spreads forward through the fourth quarter 2005 at values higher than the company thought sustainable in the actual months these contracts expire .included in the $ 76 million derivative loss for 2004 noted in the above table for the 2018 2018protect crack spread values 2019 2019 strategy was approximately an $ 8 million gain due to changes in the fair value of crack-spread derivatives that will expire throughout 2005 .in addition , natural gas options are in place to manage the price risk associated with approximately 41 percent of the first quarter 2005 anticipated natural gas purchases for refinery use .ig segment we have used derivative instruments to convert the fixed price of a long-term gas sales contract to market prices .the underlying physical contract is for a specified annual quantity of gas and matures in 2008 .similarly , we will use derivative instruments to convert shorter term ( typically less than a year ) fixed price contracts to market prices in our ongoing purchase for resale activity ; and to hedge purchased gas injected into storage for subsequent resale .derivative gains included in ig segment income were $ 17 million in 2004 , compared to gains of $ 19 million in 2003 and losses of $ 8 million in 2002 .trading activity in the ig segment resulted in losses of $ 2 million in 2004 , compared to losses of $ 7 million in 2003 and gains of $ 4 million in 2002 and have been included in the aforementioned amounts .other commodity risk we are impacted by basis risk , caused by factors that affect the relationship between commodity futures prices reflected in derivative commodity instruments and the cash market price of the underlying commodity .natural gas transaction prices are frequently based on industry reference prices that may vary from prices experienced in local markets .for example , new york mercantile exchange ( 2018 2018nymex 2019 2019 ) contracts for natural gas are priced at louisiana 2019s henry hub , while the underlying quantities of natural gas may be produced and sold in the western united states at prices that do not move in strict correlation with nymex prices .if commodity price changes in one region are not reflected in other regions , derivative commodity instruments may no longer provide the expected hedge , resulting in increased exposure to basis risk .these regional price differences could yield favorable or unfavorable results .otc transactions are being used to manage exposure to a portion of basis risk .we are impacted by liquidity risk , caused by timing delays in liquidating contract positions due to a potential inability to identify a counterparty willing to accept an offsetting position .due to the large number of active participants , liquidity risk exposure is relatively low for exchange-traded transactions. .
|
what was the change in derivative gains included in ig segment income from 2004 , compared to 2003 , in millions?
|
-2
|
{
"answer": "-2",
"decimal": -2,
"type": "float"
}
| |
the table below sets forth information on our share repurchases and dividends paid in 2015 , 2014 and 2013 .( in billions ) share repurchases and dividends paid dividends paid share repurchases 20142013 2015 contractual obligations .
[['as of december 31 2015 ( in millions )', 'payment due by period total', 'payment due by period year 1', 'payment due by period years 2-3', 'payment due by period years 4-5', 'payment due by period more than 5'], ['debtobligations ( a )', '$ 52727', '$ 3597', '$ 6842', '$ 8482', '$ 33806'], ['capital lease obligations', '156', '30', '47', '39', '40'], ['operating lease obligations', '3459', '452', '782', '608', '1617'], ['purchaseobligations ( b )', '53644', '10848', '10080', '8537', '24179'], ['other long-term liabilities reflected on the balance sheet ( c )', '6280', '590', '1245', '2390', '2055'], ['total ( d ) ( e )', '$ 116266', '$ 15517', '$ 18996', '$ 20056', '$ 61697']]
purchase obligations ( b ) 53644 10848 10080 8537 24179 other long-term liabilities reflected on the balance sheet ( c ) 6280 590 1245 2390 2055 total ( d ) ( e ) $ 116266 $ 15517 $ 18996 $ 20056 $ 61697 refer to note 10 and note 17 to comcast 2019s consolidated financial statements .( a ) excludes interest payments .( b ) purchase obligations consist of agreements to purchase goods and services that are legally binding on us and specify all significant terms , including fixed or minimum quantities to be purchased and price provisions .our purchase obligations related to our cable communications segment include programming contracts with cable networks and local broadcast television stations ; contracts with customer premise equipment manufacturers , communications vendors and multichannel video providers for which we provide advertising sales representation ; and other contracts entered into in the normal course of business .cable communications programming contracts in the table above include amounts payable under fixed or minimum guaranteed commitments and do not represent the total fees that are expected to be paid under programming contracts , which we expect to be significantly higher because these contracts are generally based on the number of subscribers receiving the programming .our purchase obligations related to our nbcuniversal segments consist primarily of commitments to acquire film and television programming , including u.s .television rights to future olympic games through 2032 , sunday night football on the nbc network through the 2022-23 season , including the super bowl in 2018 and 2021 , nhl games through the 2020-21 season , spanish-language u.s .television rights to fifa world cup games through 2022 , u.s television rights to english premier league soccer games through the 2021-22 season , certain pga tour and other golf events through 2030 and certain nascar events through 2024 , as well as obligations under various creative talent and employment agreements , including obligations to actors , producers , television personalities and executives , and various other television commitments .purchase obligations do not include contracts with immaterial future commitments .( c ) other long-term liabilities reflected on the balance sheet consist primarily of subsidiary preferred shares ; deferred compensation obliga- tions ; and pension , postretirement and postemployment benefit obligations .a contractual obligation with a carrying value of $ 1.1 billion is not included in the table above because it is uncertain if the arrangement will be settled .the contractual obligation involves an interest held by a third party in the revenue of certain theme parks .the arrangement provides the counterparty with the right to periodic pay- ments associated with current period revenue and , beginning in 2017 , the option to require nbcuniversal to purchase the interest for cash in an amount based on a contractually specified formula , which amount could be significantly higher than our current carrying value .see note 11 to comcast 2019s consolidated financial statements for additional information related to this arrangement .reserves for uncertain tax positions of $ 1.1 billion are not included in the table above because it is uncertain if and when these reserves will become payable .payments of $ 2.1 billion of participations and residuals are also not included in the table above because we cannot make a reliable esti- mate of the period in which these obligations will be settled .( d ) our contractual obligations do not include the commitment to invest up to $ 4 billion at any one time as an investor in atairos due to our inability to estimate the timing of this funding .in addition , we do not include any future expenditures related to the construction and development of the proposed universal studios theme park in beijing , china as we are not currently obligated to make such funding .comcast 2015 annual report on form 10-k 66 .
|
what percent of total payments due in year 1 are due to purchase obligations?
|
70%
|
{
"answer": "70%",
"decimal": 0.7,
"type": "percentage"
}
| |
hologic , inc .notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) failure of the company to develop new products and product enhancements on a timely basis or within budget could harm the company 2019s results of operations and financial condition .for additional risks that may affect the company 2019s business and prospects following completion of the merger , see 201crisk factors 201d in item 1a of the company 2019s form 10-k for the year ended september 29 , 2007 .goodwill the preliminary purchase price allocation has resulted in goodwill of approximately $ 3895100 .the factors contributing to the recognition of this amount of goodwill are based upon several strategic and synergistic benefits that are expected to be realized from the combination .these benefits include the expectation that the company 2019s complementary products and technologies will create a leading women 2019s healthcare company with an enhanced presence in hospitals , private practices and healthcare organizations .the company also expects to realize substantial synergies through the use of cytyc 2019s ob/gyn and breast surgeon sales channel to cross-sell the company 2019s existing and future products .the merger provides the company broader channel coverage within the united states and expanded geographic reach internationally , as well as increased scale and scope for further expanding operations through product development and complementary strategic transactions .supplemental unaudited pro-forma information the following unaudited pro forma information presents the consolidated results of operations of the company and cytyc as if the acquisitions had occurred at the beginning of fiscal 2007 , with pro forma adjustments to give effect to amortization of intangible assets , an increase in interest expense on acquisition financing and certain other adjustments together with related tax effects: .
[['( approximate amounts in thousands except per share data )', '2007'], ['net revenue', '$ 1472400'], ['net income', '$ 62600'], ['net income per share 2014basic', '$ 0.52'], ['net income per share 2014assuming dilution', '$ 0.50']]
the $ 368200 charge for acquired in-process research and development that was a direct result of the transaction is excluded from the unaudited pro forma information above .the unaudited pro forma results are not necessarily indicative of the results that the company would have attained had the acquisitions of cytyc occurred at the beginning of the periods presented .prior to the close of the merger the board of directors of both hologic and cytyc approved a modification to certain outstanding equity awards for cytyc employees .the modification provided for the acceleration of vesting upon the close of merger for those awards that did not provide for acceleration upon a change of control as part of the original terms of the award .this modification was made so that the company will not incur stock based compensation charges that it otherwise would have if the awards had continued to vest under their original terms .credit agreement on october 22 , 2007 , company and certain of its domestic subsidiaries , entered into a senior secured credit agreement with goldman sachs credit partners l.p .and certain other lenders , ( collectively , the 201clenders 201d ) .pursuant to the terms and conditions of the credit agreement , the lenders have committed to provide senior secured financing in an aggregate amount of up to $ 2550000 .as of the closing of the cytyc merger , the company borrowed $ 2350000 under the credit facilities. .
|
what would be the net profit margin in 2007 assuming that acquisitions of the company and cytyc at the beginning of fiscal 2007?
|
4.3%
|
{
"answer": "4.3%",
"decimal": 0.043,
"type": "percentage"
}
| |
39 annual report 2010 duke realty corporation | | related party transactions we provide property and asset management , leasing , construction and other tenant related services to unconsolidated companies in which we have equity interests .for the years ended december 31 , 2010 , 2009 and 2008 , respectively , we earned management fees of $ 7.6 million , $ 8.4 million and $ 7.8 million , leasing fees of $ 2.7 million , $ 4.2 million and $ 2.8 million and construction and development fees of $ 10.3 million , $ 10.2 million and $ 12.7 million from these companies .we recorded these fees based on contractual terms that approximate market rates for these types of services , and we have eliminated our ownership percentages of these fees in the consolidated financial statements .commitments and contingencies we have guaranteed the repayment of $ 95.4 million of economic development bonds issued by various municipalities in connection with certain commercial developments .we will be required to make payments under our guarantees to the extent that incremental taxes from specified developments are not sufficient to pay the bond debt service .management does not believe that it is probable that we will be required to make any significant payments in satisfaction of these guarantees .we also have guaranteed the repayment of secured and unsecured loans of six of our unconsolidated subsidiaries .at december 31 , 2010 , the maximum guarantee exposure for these loans was approximately $ 245.4 million .with the exception of the guarantee of the debt of 3630 peachtree joint venture , for which we recorded a contingent liability in 2009 of $ 36.3 million , management believes it probable that we will not be required to satisfy these guarantees .we lease certain land positions with terms extending to december 2080 , with a total obligation of $ 103.6 million .no payments on these ground leases are material in any individual year .we are subject to various legal proceedings and claims that arise in the ordinary course of business .in the opinion of management , the amount of any ultimate liability with respect to these actions will not materially affect our consolidated financial statements or results of operations .contractual obligations at december 31 , 2010 , we were subject to certain contractual payment obligations as described in the table below: .
[['contractual obligations', 'payments due by period ( in thousands ) total', 'payments due by period ( in thousands ) 2011', 'payments due by period ( in thousands ) 2012', 'payments due by period ( in thousands ) 2013', 'payments due by period ( in thousands ) 2014', 'payments due by period ( in thousands ) 2015', 'payments due by period ( in thousands ) thereafter'], ['long-term debt ( 1 )', '$ 5413606', '$ 629781', '$ 548966', '$ 725060', '$ 498912', '$ 473417', '$ 2537470'], ['lines of credit ( 2 )', '214225', '28046', '9604', '176575', '-', '-', '-'], ['share of debt of unconsolidated joint ventures ( 3 )', '447573', '87602', '27169', '93663', '34854', '65847', '138438'], ['ground leases', '103563', '2199', '2198', '2169', '2192', '2202', '92603'], ['operating leases', '2704', '840', '419', '395', '380', '370', '300'], ['development and construction backlog costs ( 4 )', '521041', '476314', '44727', '-', '-', '-', '-'], ['other', '1967', '1015', '398', '229', '90', '54', '181'], ['total contractual obligations', '$ 6704679', '$ 1225797', '$ 633481', '$ 998091', '$ 536428', '$ 541890', '$ 2768992']]
( 1 ) our long-term debt consists of both secured and unsecured debt and includes both principal and interest .interest expense for variable rate debt was calculated using the interest rates as of december 31 , 2010 .( 2 ) our unsecured lines of credit consist of an operating line of credit that matures february 2013 and the line of credit of a consolidated subsidiary that matures july 2011 .interest expense for our unsecured lines of credit was calculated using the most recent stated interest rates that were in effect .( 3 ) our share of unconsolidated joint venture debt includes both principal and interest .interest expense for variable rate debt was calculated using the interest rate at december 31 , 2010 .( 4 ) represents estimated remaining costs on the completion of owned development projects and third-party construction projects. .
|
what was the percent of the total contractual obligations associated with lines of credit that was due in 2011
|
2.3%
|
{
"answer": "2.3%",
"decimal": 0.023,
"type": "percentage"
}
| |
jpmorgan chase & co./2017 annual report 53 net interest income excluding cib 2019s markets businesses in addition to reviewing net interest income on a managed basis , management also reviews net interest income excluding net interest income arising from cib 2019s markets businesses to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities .this net interest income is referred to as non-markets related net interest income .cib 2019s markets businesses are fixed income markets and equity markets .management believes that disclosure of non-markets related net interest income provides investors and analysts with another measure by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities .the data presented below are non-gaap financial measures due to the exclusion of markets related net interest income arising from cib .year ended december 31 , ( in millions , except rates ) 2017 2016 2015 net interest income 2013 managed basis ( a ) ( b ) $ 51410 $ 47292 $ 44620 less : cib markets net interest income ( c ) 4630 6334 5298 net interest income excluding cib markets ( a ) $ 46780 $ 40958 $ 39322 average interest-earning assets $ 2180592 $ 2101604 $ 2088242 less : average cib markets interest-earning assets ( c ) 540835 520307 510292 average interest-earning assets excluding cib markets $ 1639757 $ 1581297 $ 1577950 net interest yield on average interest-earning assets 2013 managed basis 2.36% ( 2.36 % ) 2.25% ( 2.25 % ) 2.14% ( 2.14 % ) net interest yield on average cib markets interest-earning assets ( c ) 0.86 1.22 1.04 net interest yield on average interest-earning assets excluding cib markets 2.85% ( 2.85 % ) 2.59% ( 2.59 % ) 2.49% ( 2.49 % ) ( a ) interest includes the effect of related hedges .taxable-equivalent amounts are used where applicable .( b ) for a reconciliation of net interest income on a reported and managed basis , see reconciliation from the firm 2019s reported u.s .gaap results to managed basis on page 52 .( c ) the amounts in this table differ from the prior-period presentation to align with cib 2019s markets businesses .for further information on cib 2019s markets businesses , see page 65 .calculation of certain u.s .gaap and non-gaap financial measures certain u.s .gaap and non-gaap financial measures are calculated as follows : book value per share ( 201cbvps 201d ) common stockholders 2019 equity at period-end / common shares at period-end overhead ratio total noninterest expense / total net revenue return on assets ( 201croa 201d ) reported net income / total average assets return on common equity ( 201croe 201d ) net income* / average common stockholders 2019 equity return on tangible common equity ( 201crotce 201d ) net income* / average tangible common equity tangible book value per share ( 201ctbvps 201d ) tangible common equity at period-end / common shares at period-end * represents net income applicable to common equity .
[['year ended december 31 ( in millions except rates )', '2017', '2016', '2015'], ['net interest income 2013 managed basis ( a ) ( b )', '$ 51410', '$ 47292', '$ 44620'], ['less : cib markets net interest income ( c )', '4630', '6334', '5298'], ['net interest income excluding cib markets ( a )', '$ 46780', '$ 40958', '$ 39322'], ['average interest-earning assets', '$ 2180592', '$ 2101604', '$ 2088242'], ['less : average cib markets interest-earning assets ( c )', '540835', '520307', '510292'], ['average interest-earning assets excluding cib markets', '$ 1639757', '$ 1581297', '$ 1577950'], ['net interest yield on average interest-earning assets 2013 managed basis', '2.36% ( 2.36 % )', '2.25% ( 2.25 % )', '2.14% ( 2.14 % )'], ['net interest yield on average cib markets interest-earning assets ( c )', '0.86', '1.22', '1.04'], ['net interest yield on average interest-earning assets excluding cib markets', '2.85% ( 2.85 % )', '2.59% ( 2.59 % )', '2.49% ( 2.49 % )']]
jpmorgan chase & co./2017 annual report 53 net interest income excluding cib 2019s markets businesses in addition to reviewing net interest income on a managed basis , management also reviews net interest income excluding net interest income arising from cib 2019s markets businesses to assess the performance of the firm 2019s lending , investing ( including asset-liability management ) and deposit-raising activities .this net interest income is referred to as non-markets related net interest income .cib 2019s markets businesses are fixed income markets and equity markets .management believes that disclosure of non-markets related net interest income provides investors and analysts with another measure by which to analyze the non-markets-related business trends of the firm and provides a comparable measure to other financial institutions that are primarily focused on lending , investing and deposit-raising activities .the data presented below are non-gaap financial measures due to the exclusion of markets related net interest income arising from cib .year ended december 31 , ( in millions , except rates ) 2017 2016 2015 net interest income 2013 managed basis ( a ) ( b ) $ 51410 $ 47292 $ 44620 less : cib markets net interest income ( c ) 4630 6334 5298 net interest income excluding cib markets ( a ) $ 46780 $ 40958 $ 39322 average interest-earning assets $ 2180592 $ 2101604 $ 2088242 less : average cib markets interest-earning assets ( c ) 540835 520307 510292 average interest-earning assets excluding cib markets $ 1639757 $ 1581297 $ 1577950 net interest yield on average interest-earning assets 2013 managed basis 2.36% ( 2.36 % ) 2.25% ( 2.25 % ) 2.14% ( 2.14 % ) net interest yield on average cib markets interest-earning assets ( c ) 0.86 1.22 1.04 net interest yield on average interest-earning assets excluding cib markets 2.85% ( 2.85 % ) 2.59% ( 2.59 % ) 2.49% ( 2.49 % ) ( a ) interest includes the effect of related hedges .taxable-equivalent amounts are used where applicable .( b ) for a reconciliation of net interest income on a reported and managed basis , see reconciliation from the firm 2019s reported u.s .gaap results to managed basis on page 52 .( c ) the amounts in this table differ from the prior-period presentation to align with cib 2019s markets businesses .for further information on cib 2019s markets businesses , see page 65 .calculation of certain u.s .gaap and non-gaap financial measures certain u.s .gaap and non-gaap financial measures are calculated as follows : book value per share ( 201cbvps 201d ) common stockholders 2019 equity at period-end / common shares at period-end overhead ratio total noninterest expense / total net revenue return on assets ( 201croa 201d ) reported net income / total average assets return on common equity ( 201croe 201d ) net income* / average common stockholders 2019 equity return on tangible common equity ( 201crotce 201d ) net income* / average tangible common equity tangible book value per share ( 201ctbvps 201d ) tangible common equity at period-end / common shares at period-end * represents net income applicable to common equity .
|
for 2017 what was net interest income on average managed interest-earning assets in us$ m?
|
51462
|
{
"answer": "51462",
"decimal": 51462,
"type": "float"
}
| |
12 .brokerage receivables and brokerage payables the company has receivables and payables for financial instruments sold to and purchased from brokers , dealers and customers , which arise in the ordinary course of business .citi is exposed to risk of loss from the inability of brokers , dealers or customers to pay for purchases or to deliver the financial instruments sold , in which case citi would have to sell or purchase the financial instruments at prevailing market prices .credit risk is reduced to the extent that an exchange or clearing organization acts as a counterparty to the transaction and replaces the broker , dealer or customer in question .citi seeks to protect itself from the risks associated with customer activities by requiring customers to maintain margin collateral in compliance with regulatory and internal guidelines .margin levels are monitored daily , and customers deposit additional collateral as required .where customers cannot meet collateral requirements , citi may liquidate sufficient underlying financial instruments to bring the customer into compliance with the required margin level .exposure to credit risk is impacted by market volatility , which may impair the ability of clients to satisfy their obligations to citi .credit limits are established and closely monitored for customers and for brokers and dealers engaged in forwards , futures and other transactions deemed to be credit sensitive .brokerage receivables and brokerage payables consisted of the following: .
[['in millions of dollars', 'december 31 , 2018', 'december 31 , 2017'], ['receivables from customers', '$ 14415', '$ 19215'], ['receivables from brokers dealers and clearing organizations', '21035', '19169'], ['total brokerage receivables ( 1 )', '$ 35450', '$ 38384'], ['payables to customers', '$ 40273', '$ 38741'], ['payables to brokers dealers and clearing organizations', '24298', '22601'], ['total brokerage payables ( 1 )', '$ 64571', '$ 61342']]
total brokerage payables ( 1 ) $ 64571 $ 61342 ( 1 ) includes brokerage receivables and payables recorded by citi broker-dealer entities that are accounted for in accordance with the aicpa accounting guide for brokers and dealers in securities as codified in asc 940-320. .
|
what percentage of total brokerage payables at december 31 , 2017 where receivables from customers?
|
31%
|
{
"answer": "31%",
"decimal": 0.31,
"type": "percentage"
}
| |
management 2019s discussion and analysis 102 jpmorgan chase & co./2016 annual report derivative contracts in the normal course of business , the firm uses derivative instruments predominantly for market-making activities .derivatives enable customers to manage exposures to fluctuations in interest rates , currencies and other markets .the firm also uses derivative instruments to manage its own credit 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 6 .the following table summarizes the net derivative receivables for the periods presented .derivative receivables .
[['december 31 ( in millions )', '2016', '2015'], ['interest rate', '$ 28302', '$ 26363'], ['credit derivatives', '1294', '1423'], ['foreign exchange', '23271', '17177'], ['equity', '4939', '5529'], ['commodity', '6272', '9185'], ['total net of cash collateral', '64078', '59677'], ['liquid securities and other cash collateral held against derivative receivables ( a )', '-22705 ( 22705 )', '-16580 ( 16580 )'], ['total net of all collateral', '$ 41373', '$ 43097']]
( 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 $ 64.1 billion and $ 59.7 billion at december 31 , 2016 and 2015 , respectively .these amounts represent the fair value of the derivative contracts after giving effect to legally enforceable master netting agreements and cash collateral held by the firm .however , in management 2019s view , the appropriate measure of current credit risk should also take into consideration additional liquid securities ( primarily u.s .government and agency securities and other group of seven nations ( 201cg7 201d ) government bonds ) and other cash collateral held by the firm aggregating $ 22.7 billion and $ 16.6 billion at december 31 , 2016 and 2015 , respectively , that may be used as security when the fair value of the client 2019s exposure is in the firm 2019s favor .the change in derivative receivables was predominantly related to client-driven market-making activities in cib .the increase in derivative receivables reflected the impact of market movements , which increased foreign exchange receivables , partially offset by reduced commodity derivative receivables .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 6 .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 capital and the cva , as further described below .the three year avg exposure was $ 31.1 billion and $ 32.4 billion at december 31 , 2016 and 2015 , respectively , compared with derivative receivables , net of all collateral , of $ 41.4 billion and $ 43.1 billion at december 31 , 2016 and 2015 , respectively .the fair value of the firm 2019s derivative receivables incorporates an adjustment , the cva , to reflect the credit quality of counterparties .the cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market .the primary components of changes in cva are credit spreads , new deal activity or unwinds , and changes in the underlying market environment .the firm believes that active risk management is essential to controlling the dynamic credit .
|
what was the net three year avg derivative liability exposure , in billions , for 2016?
|
-10.3
|
{
"answer": "-10.3",
"decimal": -10.3,
"type": "float"
}
|
der . assets less liabilities
|
part ii item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our common stock on the nyse for the years 2015 and 2014. .
[['2015', 'high', 'low'], ['quarter ended march 31', '$ 101.88', '$ 93.21'], ['quarter ended june 30', '98.64', '91.99'], ['quarter ended september 30', '101.54', '86.83'], ['quarter ended december 31', '104.12', '87.23'], ['2014', 'high', 'low'], ['quarter ended march 31', '$ 84.90', '$ 78.38'], ['quarter ended june 30', '90.73', '80.10'], ['quarter ended september 30', '99.90', '89.05'], ['quarter ended december 31', '106.31', '90.20']]
on february 19 , 2016 , the closing price of our common stock was $ 87.32 per share as reported on the nyse .as of february 19 , 2016 , we had 423897556 outstanding shares of common stock and 159 registered holders .dividends as a reit , we must annually distribute to our stockholders an amount equal to at least 90% ( 90 % ) of our reit taxable income ( determined before the deduction for distributed earnings and excluding any net capital gain ) .generally , we have distributed and expect to continue to distribute all or substantially all of our reit taxable income after taking into consideration our utilization of net operating losses ( 201cnols 201d ) .we have two series of preferred stock outstanding , 5.25% ( 5.25 % ) mandatory convertible preferred stock , series a , issued in may 2014 ( the 201cseries a preferred stock 201d ) , with a dividend rate of 5.25% ( 5.25 % ) , and the 5.50% ( 5.50 % ) mandatory convertible preferred stock , series b ( the 201cseries b preferred stock 201d ) , issued in march 2015 , with a dividend rate of 5.50% ( 5.50 % ) .dividends are payable quarterly in arrears , subject to declaration by our board of directors .the amount , timing and frequency of future distributions will be at the sole discretion of our board of directors and will be dependent upon various factors , a number of which may be beyond our control , including our financial condition and operating cash flows , the amount required to maintain our qualification for taxation as a reit and reduce any income and excise taxes that we otherwise would be required to pay , limitations on distributions in our existing and future debt and preferred equity instruments , our ability to utilize nols to offset our distribution requirements , limitations on our ability to fund distributions using cash generated through our trss and other factors that our board of directors may deem relevant .we have distributed an aggregate of approximately $ 2.3 billion to our common stockholders , including the dividend paid in january 2016 , primarily subject to taxation as ordinary income .during the year ended december 31 , 2015 , we declared the following cash distributions: .
|
as of february 19 , 2016 what was the market capitalization
|
37014734589.9
|
{
"answer": "37014734589.9",
"decimal": 37014734589.9,
"type": "float"
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| |
the company further presents total net 201ceconomic 201d investment exposure , net of deferred compensation investments and hedged investments , to reflect another gauge for investors as the economic impact of investments held pursuant to deferred compensation arrangements is substantially offset by a change in compensation expense and the impact of hedged investments is substantially mitigated by total return swap hedges .carried interest capital allocations are excluded as there is no impact to blackrock 2019s stockholders 2019 equity until such amounts are realized as performance fees .finally , the company 2019s regulatory investment in federal reserve bank stock , which is not subject to market or interest rate risk , is excluded from the company 2019s net economic investment exposure .( dollar amounts in millions ) december 31 , december 31 .
[['( dollar amounts in millions )', 'december 31 2012', 'december 31 2011'], ['total investments gaap', '$ 1750', '$ 1631'], ['investments held by consolidated sponsored investmentfunds ( 1 )', '-524 ( 524 )', '-587 ( 587 )'], ['net exposure to consolidated investment funds', '430', '475'], ['total investments as adjusted', '1656', '1519'], ['federal reserve bank stock ( 2 )', '-89 ( 89 )', '-328 ( 328 )'], ['carried interest', '-85 ( 85 )', '-21 ( 21 )'], ['deferred compensation investments', '-62 ( 62 )', '-65 ( 65 )'], ['hedged investments', '-209 ( 209 )', '-43 ( 43 )'], ['total 201ceconomic 201d investment exposure', '$ 1211', '$ 1062']]
total 201ceconomic 201d investment exposure ...$ 1211 $ 1062 ( 1 ) at december 31 , 2012 and december 31 , 2011 , approximately $ 524 million and $ 587 million , respectively , of blackrock 2019s total gaap investments were maintained in sponsored investment funds that were deemed to be controlled by blackrock in accordance with gaap , and , therefore , are consolidated even though blackrock may not economically own a majority of such funds .( 2 ) the decrease of $ 239 million related to a lower holding requirement of federal reserve bank stock held by blackrock institutional trust company , n.a .( 201cbtc 201d ) .total investments , as adjusted , at december 31 , 2012 increased $ 137 million from december 31 , 2011 , resulting from $ 765 million of purchases/capital contributions , $ 185 million from positive market valuations and earnings from equity method investments , and $ 64 million from net additional carried interest capital allocations , partially offset by $ 742 million of sales/maturities and $ 135 million of distributions representing return of capital and return on investments. .
|
in 2012 , what net exposure amounted to consolidated investment funds amounted to what percent of the investments held by consolidated sponsored investment funds?
|
82.06%
|
{
"answer": "82.06%",
"decimal": 0.8206,
"type": "percentage"
}
| |
deposits 2014deposits include escrow funds and certain other deposits held in trust .the company includes cash deposits in other current assets .deferred compensation obligations 2014the company 2019s deferred compensation plans allow participants to defer certain cash compensation into notional investment accounts .the company includes such plans in other long-term liabilities .the value of the company 2019s deferred compensation obligations is based on the market value of the participants 2019 notional investment accounts .the notional investments are comprised primarily of mutual funds , which are based on observable market prices .mark-to-market derivative asset and liability 2014the company utilizes fixed-to-floating interest-rate swaps , typically designated as fair-value hedges , to achieve a targeted level of variable-rate debt as a percentage of total debt .the company also employs derivative financial instruments in the form of variable-to-fixed interest rate swaps and forward starting interest rate swaps , classified as economic hedges and cash flow hedges , respectively , in order to fix the interest cost on existing or forecasted debt .the company uses a calculation of future cash inflows and estimated future outflows , which are discounted , to determine the current fair value .additional inputs to the present value calculation include the contract terms , counterparty credit risk , interest rates and market volatility .other investments 2014other investments primarily represent money market funds used for active employee benefits .the company includes other investments in other current assets .note 18 : leases the company has entered into operating leases involving certain facilities and equipment .rental expenses under operating leases were $ 29 million , $ 24 million and $ 21 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .the operating leases for facilities will expire over the next 25 years and the operating leases for equipment will expire over the next 5 years .certain operating leases have renewal options ranging from one to five years .the minimum annual future rental commitment under operating leases that have initial or remaining non-cancelable lease terms over the next 5 years and thereafter are as follows: .
[['', 'amount'], ['2018', '$ 15'], ['2019', '14'], ['2020', '12'], ['2021', '9'], ['2022', '8'], ['thereafter', '65']]
the company has a series of agreements with various public entities ( the 201cpartners 201d ) to establish certain joint ventures , commonly referred to as 201cpublic-private partnerships . 201d under the public-private partnerships , the company constructed utility plant , financed by the company and the partners constructed utility plant ( connected to the company 2019s property ) , financed by the partners .the company agreed to transfer and convey some of its real and personal property to the partners in exchange for an equal principal amount of industrial development bonds ( 201cidbs 201d ) , issued by the partners under a state industrial development bond and commercial development act .the company leased back the total facilities , including portions funded by both the company and the partners , under leases for a period of 40 years .the leases related to the portion of the facilities funded by the company have required payments from the company to the partners that approximate the payments required by the terms of the idbs from the partners to the company ( as the holder of the idbs ) .as the ownership of the portion of the facilities constructed by the .
|
what was the change in the rental amount from 2017 to 2018 in millions
|
14
|
{
"answer": "14",
"decimal": 14,
"type": "float"
}
|
the change is the difference between the two periods
|
fidelity national information services , inc .and subsidiaries notes to consolidated financial statements - ( continued ) the following summarizes the aggregate maturities of our debt and capital leases on stated contractual maturities , excluding unamortized non-cash bond premiums and discounts net of $ 30 million as of december 31 , 2017 ( in millions ) : .
[['', 'total'], ['2018', '$ 1045'], ['2019', '44'], ['2020', '1157'], ['2021', '1546'], ['2022', '705'], ['thereafter', '4349'], ['total principal payments', '8846'], ['debt issuance costs net of accumulated amortization', '-53 ( 53 )'], ['total long-term debt', '$ 8793']]
there are no mandatory principal payments on the revolving loan and any balance outstanding on the revolving loan will be due and payable at its scheduled maturity date , which occurs at august 10 , 2021 .fis may redeem the 2018 notes , 2020 notes , 2021 notes , 2021 euro notes , 2022 notes , 2022 gbp notes , 2023 notes , 2024 notes , 2024 euro notes , 2025 notes , 2026 notes , and 2046 notes at its option in whole or in part , at any time and from time to time , at a redemption price equal to the greater of 100% ( 100 % ) of the principal amount to be redeemed and a make-whole amount calculated as described in the related indenture in each case plus accrued and unpaid interest to , but excluding , the date of redemption , provided no make-whole amount will be paid for redemptions of the 2020 notes , the 2021 notes , the 2021 euro notes and the 2022 gbp notes during the one month prior to their maturity , the 2022 notes during the two months prior to their maturity , the 2023 notes , the 2024 notes , the 2024 euro notes , the 2025 notes , and the 2026 notes during the three months prior to their maturity , and the 2046 notes during the six months prior to their maturity .debt issuance costs of $ 53 million , net of accumulated amortization , remain capitalized as of december 31 , 2017 , related to all of the above outstanding debt .we monitor the financial stability of our counterparties on an ongoing basis .the lender commitments under the undrawn portions of the revolving loan are comprised of a diversified set of financial institutions , both domestic and international .the failure of any single lender to perform its obligations under the revolving loan would not adversely impact our ability to fund operations .the fair value of the company 2019s long-term debt is estimated to be approximately $ 156 million higher than the carrying value as of december 31 , 2017 .this estimate is based on quoted prices of our senior notes and trades of our other debt in close proximity to december 31 , 2017 , which are considered level 2-type measurements .this estimate is subjective in nature and involves uncertainties and significant judgment in the interpretation of current market data .therefore , the values presented are not necessarily indicative of amounts the company could realize or settle currently. .
|
what is the amount of long-term debt that should be reported in the non-current liabilities section of the balance sheet as of december 31 , 2017?
|
7748
|
{
"answer": "7748",
"decimal": 7748,
"type": "float"
}
| |
notes to consolidated financial statements 161 fifth third bancorp as of december 31 , 2012 ( $ in millions ) significant unobservable ranges of financial instrument fair value valuation technique inputs inputs weighted-average commercial loans held for sale $ 9 appraised value appraised value nm nm cost to sell nm 10.0% ( 10.0 % ) commercial and industrial loans 83 appraised value default rates 100% ( 100 % ) nm collateral value nm nm commercial mortgage loans 46 appraised value default rates 100% ( 100 % ) nm collateral value nm nm commercial construction loans 4 appraised value default rates 100% ( 100 % ) nm collateral value nm nm msrs 697 discounted cash flow prepayment speed 0 - 100% ( 100 % ) ( fixed ) 16.1% ( 16.1 % ) ( adjustable ) 26.9% ( 26.9 % ) discount rates 9.4 - 18.0% ( 18.0 % ) ( fixed ) 10.5% ( 10.5 % ) ( adjustable ) 11.7% ( 11.7 % ) .
[['financial instrument', 'fair value', 'valuation technique', 'significant unobservableinputs', 'ranges ofinputs', 'weighted-average'], ['commercial loans held for sale', '$ 9', 'appraised value', 'appraised valuecost to sell', 'nmnm', 'nm10.0% ( nm10.0 % )'], ['commercial and industrial loans', '83', 'appraised value', 'default ratescollateral value', '100%nm', 'nmnm'], ['commercial mortgage loans', '46', 'appraised value', 'default ratescollateral value', '100%nm', 'nmnm'], ['commercial construction loans', '4', 'appraised value', 'default ratescollateral value', '100%nm', 'nmnm'], ['msrs', '697', 'discounted cash flow', 'prepayment speeddiscount rates', '0 - 100%9.4 - 18.0% ( 18.0 % )', '( fixed ) 16.1% ( 16.1 % ) ( adjustable ) 26.9% ( 26.9 % ) ( fixed ) 10.5% ( 10.5 % ) ( adjustable ) 11.7% ( 11.7 % )'], ['oreo', '165', 'appraised value', 'appraised value', 'nm', 'nm']]
commercial loans held for sale during 2013 and 2012 , the bancorp transferred $ 5 million and $ 16 million , respectively , of commercial loans from the portfolio to loans held for sale that upon transfer were measured at fair value using significant unobservable inputs .these loans had fair value adjustments in 2013 and 2012 totaling $ 4 million and $ 1 million , respectively , and were generally based on appraisals of the underlying collateral and were therefore , classified within level 3 of the valuation hierarchy .additionally , during 2013 and 2012 there were fair value adjustments on existing commercial loans held for sale of $ 3 million and $ 12 million , respectively .the fair value adjustments were also based on appraisals of the underlying collateral and were therefore classified within level 3 of the valuation hierarchy .an adverse change in the fair value of the underlying collateral would result in a decrease in the fair value measurement .the accounting department determines the procedures for valuation of commercial hfs loans which may include a comparison to recently executed transactions of similar type loans .a monthly review of the portfolio is performed for reasonableness .quarterly , appraisals approaching a year old are updated and the real estate valuation group , which reports to the chief risk and credit officer , in conjunction with the commercial line of business review the third party appraisals for reasonableness .additionally , the commercial line of business finance department , which reports to the bancorp chief financial officer , in conjunction with accounting review all loan appraisal values , carrying values and vintages .commercial loans held for investment during 2013 and 2012 , the bancorp recorded nonrecurring impairment adjustments to certain commercial and industrial , commercial mortgage and commercial construction loans held for investment .larger commercial loans included within aggregate borrower relationship balances exceeding $ 1 million that exhibit probable or observed credit weaknesses are subject to individual review for impairment .the bancorp considers the current value of collateral , credit quality of any guarantees , the guarantor 2019s liquidity and willingness to cooperate , the loan structure and other factors when evaluating whether an individual loan is impaired .when the loan is collateral dependent , the fair value of the loan is generally based on the fair value of the underlying collateral supporting the loan and therefore these loans were classified within level 3 of the valuation hierarchy .in cases where the carrying value exceeds the fair value , an impairment loss is recognized .an adverse change in the fair value of the underlying collateral would result in a decrease in the fair value measurement .the fair values and recognized impairment losses are reflected in the previous table .commercial credit risk , which reports to the chief risk and credit officer , is responsible for preparing and reviewing the fair value estimates for commercial loans held for investment .mortgage interest rates increased during the year ended december 31 , 2013 and the bancorp recognized a recovery of temporary impairment on servicing rights .the bancorp recognized temporary impairments in certain classes of the msr portfolio during the year ended december 31 , 2012 and the carrying value was adjusted to the fair value .msrs do not trade in an active , open market with readily observable prices .while sales of msrs do occur , the precise terms and conditions typically are not readily available .accordingly , the bancorp estimates the fair value of msrs using internal discounted cash flow models with certain unobservable inputs , primarily prepayment speed assumptions , discount rates and weighted average lives , resulting in a classification within level 3 of the valuation hierarchy .refer to note 11 for further information on the assumptions used in the valuation of the bancorp 2019s msrs .the secondary marketing department and treasury department are responsible for determining the valuation methodology for msrs .representatives from secondary marketing , treasury , accounting and risk management are responsible for reviewing key assumptions used in the internal discounted cash flow model .two external valuations of the msr portfolio are obtained from third parties that use valuation models in order to assess the reasonableness of the internal discounted cash flow model .additionally , the bancorp participates in peer surveys that provide additional confirmation of the reasonableness of key assumptions utilized in the msr valuation process and the resulting msr prices .during 2013 and 2012 , the bancorp recorded nonrecurring adjustments to certain commercial and residential real estate properties classified as oreo and measured at the lower of carrying amount or fair value .these nonrecurring losses are primarily due to declines in real estate values of the properties recorded in oreo .for the years ended december 31 , 2013 and 2012 , these losses include $ 19 million and $ 17 million , respectively , recorded as charge-offs , on new oreo properties transferred from loans during the respective periods and $ 26 million and $ 57 million , respectively , recorded as negative fair value adjustments on oreo in other noninterest income subsequent to their transfer from loans .as discussed in the following paragraphs , the fair value amounts are generally based on appraisals of the property values , resulting in a .
|
during 2013 , were the fair value adjustments greater for loans transferred to held for sale greater than the adjustments for loans already classified as held for sale?
|
yes
|
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"answer": "yes",
"decimal": 1,
"type": "bool"
}
| |
arconic and its subsidiaries file income tax returns in the u.s .federal jurisdiction and various states and foreign jurisdictions .with a few minor exceptions , arconic is no longer subject to income tax examinations by tax authorities for years prior to 2006 .all u.s .tax years prior to 2016 have been audited by the internal revenue service .various state and foreign jurisdiction tax authorities are in the process of examining arconic 2019s income tax returns for various tax years through 2015 .a reconciliation of the beginning and ending amount of unrecognized tax benefits ( excluding interest and penalties ) was as follows: .
[['december 31,', '2016', '2015', '2014'], ['balance at beginning of year', '$ 18', '$ 7', '$ 8'], ['additions for tax positions of the current year', '12', '-', '-'], ['additions for tax positions of prior years', '-', '14', '4'], ['reductions for tax positions of prior years', '-', '-2 ( 2 )', '-3 ( 3 )'], ['settlements with tax authorities', '-1 ( 1 )', '-', '-1 ( 1 )'], ['expiration of the statute of limitations', '-1 ( 1 )', '-1 ( 1 )', '-'], ['foreign currency translation', '-', '-', '-1 ( 1 )'], ['balance at end of year', '$ 28', '$ 18', '$ 7']]
for all periods presented , a portion of the balance at end of year pertains to state tax liabilities , which are presented before any offset for federal tax benefits .the effect of unrecognized tax benefits , if recorded , that would impact the annual effective tax rate for 2016 , 2015 , and 2014 would be approximately 6% ( 6 % ) , 7% ( 7 % ) , and 4% ( 4 % ) , respectively , of pretax book income .arconic does not anticipate that changes in its unrecognized tax benefits will have a material impact on the statement of consolidated operations during 2017 ( see tax in note l for a matter for which no reserve has been recognized ) .it is arconic 2019s policy to recognize interest and penalties related to income taxes as a component of the provision for income taxes on the accompanying statement of consolidated operations .in 2016 , 2015 , and 2014 , arconic did not recognize any interest or penalties .due to the expiration of the statute of limitations , settlements with tax authorities , and refunded overpayments , arconic recognized interest income of $ 1 in 2015 but did not recognize any interest income in 2016 or 2014 .as of december 31 , 2016 and 2015 , the amount accrued for the payment of interest and penalties was $ 2 and $ 1 , respectively .s .receivables sale of receivables programs arconic has an arrangement with three financial institutions to sell certain customer receivables without recourse on a revolving basis .the sale of such receivables is completed through the use of a bankruptcy remote special purpose entity , which is a consolidated subsidiary of arconic .this arrangement provides for minimum funding of $ 200 up to a maximum of $ 400 for receivables sold .on march 30 , 2012 , arconic initially sold $ 304 of customer receivables in exchange for $ 50 in cash and $ 254 of deferred purchase price under this arrangement .arconic has received additional net cash funding of $ 300 for receivables sold ( $ 1758 in draws and $ 1458 in repayments ) since the program 2019s inception , including $ 100 ( $ 500 in draws and $ 400 in repayments ) in 2016 .no draws or repayments occurred in 2015 .as of december 31 , 2016 and 2015 , the deferred purchase price receivable was $ 83 and $ 249 , respectively , which was included in other receivables on the accompanying consolidated balance sheet .the deferred purchase price receivable is reduced as collections of the underlying receivables occur ; however , as this is a revolving program , the sale of new receivables will result in an increase in the deferred purchase price receivable .the net change in the deferred purchase price receivable was reflected in the ( increase ) decrease in receivables line item on the accompanying statement of consolidated cash flows .this activity is reflected as an operating cash flow because the related customer receivables are the result of an operating activity with an insignificant , short-term interest rate risk. .
|
considering the years 2014-2015 , what was the increase in the additions for tax positions of prior years , in dollars?
|
10
|
{
"answer": "10",
"decimal": 10,
"type": "float"
}
|
it is the variation between those two additions for tax positions of prior years' values .
|
shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the securities and exchange commission , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing .the following graph shows a five year comparison of cumulative total shareowners 2019 returns for our class b common stock , the standard & poor 2019s 500 index , and the dow jones transportation average .the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2005 in the standard & poor 2019s 500 index , the dow jones transportation average , and our class b common stock .comparison of five year cumulative total return $ 40.00 $ 60.00 $ 80.00 $ 100.00 $ 120.00 $ 140.00 $ 160.00 201020092008200720062005 s&p 500 ups dj transport .
[['', '12/31/05', '12/31/06', '12/31/07', '12/31/08', '12/31/09', '12/31/10'], ['united parcel service inc .', '$ 100.00', '$ 101.76', '$ 98.20', '$ 78.76', '$ 84.87', '$ 110.57'], ['standard & poor 2019s 500 index', '$ 100.00', '$ 115.79', '$ 122.16', '$ 76.96', '$ 97.33', '$ 111.99'], ['dow jones transportation average', '$ 100.00', '$ 109.82', '$ 111.38', '$ 87.52', '$ 103.79', '$ 131.59']]
.
|
what was the percentage cumulative total shareowners 2019 returns for united parcel service inc . for the five years ended 12/31/10?
|
10.57%
|
{
"answer": "10.57%",
"decimal": 0.1057,
"type": "percentage"
}
| |
undistributed earnings of $ 696.9 million from certain foreign subsidiaries are considered to be permanently reinvested abroad and will not be repatriated to the united states in the foreseeable future .because those earnings are considered to be indefinitely reinvested , no domestic federal or state deferred income taxes have been provided thereon .if we were to make a distribution of any portion of those earnings in the form of dividends or otherwise , we would be subject to both u.s .income taxes ( subject to an adjustment for foreign tax credits ) and withholding taxes payable to the various foreign jurisdictions .because of the availability of u.s .foreign tax credit carryforwards , it is not practicable to determine the domestic federal income tax liability that would be payable if such earnings were no longer considered to be reinvested indefinitely .a valuation allowance is provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized .changes to our valuation allowance during the years ended may 31 , 2015 and 2014 are summarized below ( in thousands ) : .
[['balance at may 31 2013', '$ -28464 ( 28464 )'], ['utilization of foreign net operating loss carryforwards', '2822'], ['allowance for foreign tax credit carryforward', '18061'], ['other', '382'], ['balance at may 31 2014', '-7199 ( 7199 )'], ['utilization of foreign net operating loss carryforwards', '3387'], ['other', '-11 ( 11 )'], ['balance at may 31 2015', '$ -3823 ( 3823 )']]
net operating loss carryforwards of foreign subsidiaries totaling $ 12.4 million and u.s .net operating loss carryforwards previously acquired totaling $ 19.8 million at may 31 , 2015 will expire between may 31 , 2017 and may 31 , 2033 if not utilized .capital loss carryforwards of u.s .subsidiaries totaling $ 4.7 million will expire if not utilized by may 31 , 2017 .tax credit carryforwards totaling $ 8.4 million at may 31 , 2015 will expire between may 31 , 2017 and may 31 , 2023 if not utilized .we conduct business globally and file income tax returns in the u.s .federal jurisdiction and various state and foreign jurisdictions .in the normal course of business , we are subject to examination by taxing authorities around the world .as a result of events that occurred in the fourth quarter of the year ended may 31 , 2015 , management concluded that it was more likely than not that the tax positions in a foreign jurisdiction , for which we had recorded estimated liabilities of $ 65.6 million in other noncurrent liabilities on our consolidated balance sheet , would be sustained on their technical merits based on information available as of may 31 , 2015 .therefore , the liability and corresponding deferred tax assets were eliminated as of may 31 , 2015 .the uncertain tax positions have been subject to an ongoing examination in that foreign jurisdiction by the tax authority .discussions and correspondence between the tax authority and us during the fourth quarter indicated that the likelihood of the positions being sustained had increased .subsequent to may 31 , 2015 , we received a final closure notice regarding the examination resulting in no adjustments to taxable income related to this matter for the tax returns filed for the periods ended may 31 , 2010 through may 31 , 2013 .the unrecognized tax benefits were effectively settled with this final closure notice .we are no longer subjected to state income tax examinations for years ended on or before may 31 , 2008 , u.s .federal income tax examinations for fiscal years prior to 2012 and united kingdom federal income tax examinations for years ended on or before may 31 , 2013 .78 2013 global payments inc .| 2015 form 10-k annual report .
|
what is the total loss carryforwards?
|
36.9
|
{
"answer": "36.9",
"decimal": 36.9,
"type": "float"
}
| |
performance graph the following graph compares the cumulative five-year total return provided shareholders on our class a common stock relative to the cumulative total returns of the s&p 500 index and two customized peer groups .the old peer group includes intercontinentalexchange , inc. , nyse euronext and the nasdaq omx group inc .the new peer group is the same as the old peer group with the addition of cboe holdings , inc .which completed its initial public offering in june 2010 .an investment of $ 100 ( with reinvestment of all dividends ) is assumed to have been made in our class a common stock , in the peer groups and the s&p 500 index on december 31 , 2005 and its relative performance is tracked through december 31 , 2010 .comparison of 5 year cumulative total return* among cme group inc. , the s&p 500 index , an old peer group and a new peer group 12/05 12/06 12/07 12/08 12/09 12/10 cme group inc .s&p 500 old peer group *$ 100 invested on 12/31/05 in stock or index , including reinvestment of dividends .fiscal year ending december 31 .copyright a9 2011 s&p , a division of the mcgraw-hill companies inc .all rights reserved .new peer group the stock price performance included in this graph is not necessarily indicative of future stock price performance .
[['', '2006', '2007', '2008', '2009', '2010'], ['cme group inc .', '$ 139.48', '$ 188.81', '$ 58.66', '$ 96.37', '$ 93.73'], ['s&p 500', '115.80', '122.16', '76.96', '97.33', '111.99'], ['old peer group', '155.58', '190.78', '72.25', '76.11', '87.61'], ['new peer group', '155.58', '190.78', '72.25', '76.11', '87.61']]
.
|
did the cme group outperform the s&p 500?
|
no
|
{
"answer": "no",
"decimal": null,
"type": "bool"
}
| |
.
[['location', 'approximate square footage'], ['alpharetta georgia', '260000'], ['jersey city new jersey', '109000'], ['arlington virginia', '102000'], ['sandy utah', '66000'], ['menlo park california', '63000'], ['new york new york', '39000']]
all facilities are leased at december 31 , 2014 , including 165000 square feet of our office in alpharetta , georgia .we executed a sale-leaseback transaction on this office during 2014 .see note 9 2014property and equipment , net in item 8 .financial statements and supplementary data for more information .all of our facilities are used by either our trading and investing or balance sheet management segments , in addition to the corporate/other category .all other leased facilities with space of less than 25000 square feet are not listed by location .in addition to the significant facilities above , we also lease all 30 e*trade branches , ranging in space from approximately 2500 to 8000 square feet .we believe our facilities space is adequate to meet our needs in 2015 .item 3 .legal proceedings on october 27 , 2000 , ajaxo , inc .( "ajaxo" ) filed a complaint in the superior court for the state of california , county of santa clara .ajaxo sought damages and certain non-monetary relief for the company 2019s alleged breach of a non-disclosure agreement with ajaxo pertaining to certain wireless technology that ajaxo offered the company as well as damages and other relief against the company for their alleged misappropriation of ajaxo 2019s trade secrets .following a jury trial , a judgment was entered in 2003 in favor of ajaxo against the company for $ 1 million for breach of the ajaxo non-disclosure agreement .although the jury found in favor of ajaxo on its claim against the company for misappropriation of trade secrets , the trial court subsequently denied ajaxo 2019s requests for additional damages and relief .on december 21 , 2005 , the california court of appeal affirmed the above-described award against the company for breach of the nondisclosure agreement but remanded the case to the trial court for the limited purpose of determining what , if any , additional damages ajaxo may be entitled to as a result of the jury 2019s previous finding in favor of ajaxo on its claim against the company for misappropriation of trade secrets .although the company paid ajaxo the full amount due on the above-described judgment , the case was remanded back to the trial court , and on may 30 , 2008 , a jury returned a verdict in favor of the company denying all claims raised and demands for damages against the company .following the trial court 2019s entry of judgment in favor of the company on september 5 , 2008 , ajaxo filed post- trial motions for vacating this entry of judgment and requesting a new trial .the trial court denied these motions .on december 2 , 2008 , ajaxo filed a notice of appeal with the court of appeal of the state of california for the sixth district .on august 30 , 2010 , the court of appeal affirmed the trial court 2019s verdict in part and reversed the verdict in part , remanding the case .the company petitioned the supreme court of california for review of the court of appeal decision .on december 16 , 2010 , the california supreme court denied the company 2019s petition for review and remanded for further proceedings to the trial court .the testimonial phase of the third trial in this matter concluded on june 12 , 2012 .by order dated may 28 , 2014 , the court determined to conduct a second phase of this bench trial to allow ajaxo to attempt to prove entitlement to additional royalties .hearings in phase two of the trial concluded january 8 , 2015 , and final written closing statements will be submitted march 16 , 2015 .the company will continue to defend itself vigorously .on may 16 , 2011 , droplets inc. , the holder of two patents pertaining to user interface servers , filed a complaint in the u.s .district court for the eastern district of texas against e*trade financial corporation , e*trade securities llc , e*trade bank and multiple other unaffiliated financial services firms .plaintiff contends that the defendants engaged in patent infringement under federal law .plaintiff seeks unspecified damages and an injunction against future infringements , plus royalties , costs , interest and attorneys 2019 fees .on september 30 , 2011 , the company and several co-defendants filed a motion to transfer the case to the southern district of new york .venue discovery occurred throughout december 2011 .on january 1 , 2012 , a new judge was assigned to the case .on march 28 , 2012 , a change of venue was granted and the case was transferred to the united states district court for the southern district of new york .the company filed its answer and counterclaim on june 13 , 2012 and plaintiff moved to dismiss the counterclaim .the company filed a motion for summary judgment .plaintiffs sought to change venue back to the eastern district of texas on the theory that this case is one of several matters that should be consolidated in a single multi-district litigation .on december 12 , 2012 , the multidistrict litigation panel denied the transfer of this action to texas .by opinion dated april 4 , 2013 , the court denied defendants 2019 motion for summary judgment and plaintiff 2019s motion to dismiss the counterclaims .the court issued its order on claim construction on october 22 , 2013 , and by order dated january 28 , 2014 , the court adopted the defendants' proposed claims construction .on march 25 , 2014 , the court granted plaintiff leave to amend its complaint to add a newly-issued patent , but stayed all litigation pertaining to that patent until a covered business method review could be heard by the patent and trademark appeals board .the defendants' petitions for table of contents .
|
what was the ratio of the square footage in alpharetta georgia to jersey city new jersey as december 2014
|
2.39
|
{
"answer": "2.39",
"decimal": 2.39,
"type": "float"
}
|
there was 2.39 square footage in alpharetta georgia to each square foot jersey city new jersey as december 2014
|
492010 annual report consolidation 2013 effective february 28 , 2010 , the company adopted the fasb amended guidance for con- solidation .this guidance clarifies that the scope of the decrease in ownership provisions applies to the follow- ing : ( i ) a subsidiary or group of assets that is a business or nonprofit activity ; ( ii ) a subsidiary that is a business or nonprofit activity that is transferred to an equity method investee or joint venture ; and ( iii ) an exchange of a group of assets that constitutes a business or nonprofit activ- ity for a noncontrolling interest in an entity ( including an equity method investee or joint venture ) .this guidance also expands the disclosures about the deconsolidation of a subsidiary or derecognition of a group of assets within the scope of the guidance .the adoption of this guidance did not have a material impact on the company 2019s consolidated financial statements .3 . acquisitions : acquisition of bwe 2013 on december 17 , 2007 , the company acquired all of the issued and outstanding capital stock of beam wine estates , inc .( 201cbwe 201d ) , an indirect wholly-owned subsidiary of fortune brands , inc. , together with bwe 2019s subsidiaries : atlas peak vineyards , inc. , buena vista winery , inc. , clos du bois , inc. , gary farrell wines , inc .and peak wines international , inc .( the 201cbwe acquisition 201d ) .as a result of the bwe acquisition , the company acquired the u.s .wine portfolio of fortune brands , inc. , including certain wineries , vineyards or inter- ests therein in the state of california , as well as various super-premium and fine california wine brands including clos du bois and wild horse .the bwe acquisition sup- ports the company 2019s strategy of strengthening its portfolio with fast-growing super-premium and above wines .the bwe acquisition strengthens the company 2019s position as the leading wine company in the world and the leading premium wine company in the u.s .total consideration paid in cash was $ 877.3 million .in addition , the company incurred direct acquisition costs of $ 1.4 million .the purchase price was financed with the net proceeds from the company 2019s december 2007 senior notes ( as defined in note 11 ) and revolver borrowings under the company 2019s june 2006 credit agreement , as amended in february 2007 and november 2007 ( as defined in note 11 ) .in accordance with the purchase method of accounting , the acquired net assets are recorded at fair value at the date of acquisition .the purchase price was based primarily on the estimated future operating results of the bwe business , including the factors described above .in june 2008 , the company sold certain businesses consisting of several of the california wineries and wine brands acquired in the bwe acquisition , as well as certain wineries and wine brands from the states of washington and idaho ( collectively , the 201cpacific northwest business 201d ) ( see note 7 ) .the results of operations of the bwe business are reported in the constellation wines segment and are included in the consolidated results of operations of the company from the date of acquisition .the following table summarizes the fair values of the assets acquired and liabilities assumed in the bwe acquisition at the date of acquisition .( in millions ) current assets $ 288.4 property , plant and equipment 232.8 .
[['current assets', '$ 288.4'], ['property plant and equipment', '232.8'], ['goodwill', '334.6'], ['trademarks', '97.9'], ['other assets', '30.2'], ['total assets acquired', '983.9'], ['current liabilities', '103.9'], ['long-term liabilities', '1.3'], ['total liabilities assumed', '105.2'], ['net assets acquired', '$ 878.7']]
other assets 30.2 total assets acquired 983.9 current liabilities 103.9 long-term liabilities 1.3 total liabilities assumed 105.2 net assets acquired $ 878.7 the trademarks are not subject to amortization .all of the goodwill is expected to be deductible for tax purposes .acquisition of svedka 2013 on march 19 , 2007 , the company acquired the svedka vodka brand ( 201csvedka 201d ) in connection with the acquisition of spirits marque one llc and related business ( the 201csvedka acquisition 201d ) .svedka is a premium swedish vodka .at the time of the acquisition , the svedka acquisition supported the company 2019s strategy of expanding the company 2019s premium spirits business and provided a foundation from which the company looked to leverage its existing and future premium spirits portfolio for growth .in addition , svedka complemented the company 2019s then existing portfolio of super-premium and value vodka brands by adding a premium vodka brand .total consideration paid in cash for the svedka acquisition was $ 385.8 million .in addition , the company incurred direct acquisition costs of $ 1.3 million .the pur- chase price was financed with revolver borrowings under the company 2019s june 2006 credit agreement , as amended in february 2007 .in accordance with the purchase method of accounting , the acquired net assets are recorded at fair value at the date of acquisition .the purchase price was based primarily on the estimated future operating results of the svedka business , including the factors described above .the results of operations of the svedka business are reported in the constellation wines segment and are included in the consolidated results of operations of the company from the date of acquisition. .
|
what is the working capital of bwe at the time of the acquisition?
|
184.5
|
{
"answer": "184.5",
"decimal": 184.5,
"type": "float"
}
| |
alexion pharmaceuticals , inc .notes to consolidated financial statements 2014 ( continued ) for the years ended december 31 , 2007 and 2006 , five month period ended december 31 , 2005 , and year ended july 31 , 2005 ( amounts in thousands , except share and per share amounts ) in 2006 , we completed a final phase iii trial of pexelizumab .after reviewing results from that trial , we along with p&g , determined not to pursue further development of pexelizumab .effective march 30 , 2007 , we and p&g mutually agreed to terminate the collaboration agreement .as the relevant agreement has been terminated in march 2007 , the remaining portion of the $ 10000 non-refundable up-front license fee , or $ 5343 , was recognized as revenue in the year ended december 31 , 2007 and is included in contract research revenues .license and research and development agreements we have entered into a number of license , research and development and manufacturing development agreements since our inception .these agreements have been made with various research institutions , universities , contractors , collaborators , and government agencies in order to advance and obtain technologies and services related to our business .license agreements generally provide for an initial fee followed by annual minimum royalty payments .additionally , certain agreements call for future payments upon the attainment of agreed upon milestones , such as , but not limited to , investigational new drug , or ind , application or approval of biologics license application .these agreements require minimum royalty payments based on sales of products developed from the applicable technologies , if any .clinical and manufacturing development agreements generally provide for us to fund manufacturing development and on-going clinical trials .clinical trial and development agreements include contract services and outside contractor services including contracted clinical site services related to patient enrolment for our clinical trials .manufacturing development agreements include clinical manufacturing and manufacturing development and scale-up .we have executed a large-scale product supply agreement with lonza sales ag for the long-term commercial manufacture of soliris ( see note 9 ) .in order to maintain our rights under these agreements , we may be required to provide a minimum level of funding or support .we may elect to terminate these arrangements .accordingly , we recognize the expense and related obligation related to these arrangements over the period of performance .the minimum fixed payments ( assuming non-termination of the above agreements ) as of december 31 , 2007 , for each of the next five years are as follows : years ending december 31 , license agreements clinical and manufacturing development agreements .
[['years ending december 31,', 'license agreements', 'clinical and manufacturing development agreements'], ['2008', '$ 707', '$ 2860'], ['2009', '552', '3750'], ['2010', '322', '7500'], ['2011', '300', '7500'], ['2012', '300', '7500']]
.
|
what is the percent change in minimum fixed payments of clinical and manufacturing development agreements between 2008 and 2009?
|
31.1%
|
{
"answer": "31.1%",
"decimal": 0.311,
"type": "percentage"
}
| |
table of contents notes to consolidated financial statements ( continued ) note 5 2014income taxes ( continued ) fin 48 in the first quarter of 2008 , the company adopted fin 48 .upon adoption of fin 48 , the company 2019s cumulative effect of a change in accounting principle resulted in an increase to retained earnings of $ 11 million .the company had historically classified interest and penalties and unrecognized tax benefits as current liabilities .beginning with the adoption of fin 48 , the company classifies gross interest and penalties and unrecognized tax benefits that are not expected to result in payment or receipt of cash within one year as non-current liabilities in the consolidated balance sheet .the total amount of gross unrecognized tax benefits as of the date of adoption of fin 48 was $ 475 million , of which $ 209 million , if recognized , would affect the company 2019s effective tax rate .as of september 27 , 2008 , the total amount of gross unrecognized tax benefits was $ 506 million , of which $ 253 million , if recognized , would affect the company 2019s effective tax rate .the company 2019s total gross unrecognized tax benefits are classified as non-current liabilities in the consolidated balance sheet .the aggregate changes in the balance of gross unrecognized tax benefits , which excludes interest and penalties , for the fiscal year ended september 27 , 2008 , is as follows ( in millions ) : the company 2019s policy to include interest and penalties related to unrecognized tax benefits within the provision for income taxes did not change as a result of adopting fin 48 .as of the date of adoption , the company had accrued $ 203 million for the gross interest and penalties relating to unrecognized tax benefits .as of september 27 , 2008 , the total amount of gross interest and penalties accrued was $ 219 million , which is classified as non-current liabilities in the consolidated balance sheet .in 2008 , the company recognized interest expense in connection with tax matters of $ 16 million .the company is subject to taxation and files income tax returns in the u.s .federal jurisdiction and in many state and foreign jurisdictions .for u.s .federal income tax purposes , all years prior to 2002 are closed .the years 2002-2003 have been examined by the internal revenue service ( the 201cirs 201d ) and disputed issues have been taken to administrative appeals .the irs is currently examining the 2004-2006 years .in addition , the company is also subject to audits by state , local , and foreign tax authorities .in major states and major foreign jurisdictions , the years subsequent to 1988 and 2000 , respectively , generally remain open and could be subject to examination by the taxing authorities .management believes that an adequate provision has been made for any adjustments that may result from tax examinations .however , the outcome of tax audits cannot be predicted with certainty .if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income tax in the period such resolution occurs .although timing of the resolution and/or closure of audits is highly uncertain , the company does not believe it is reasonably possible that its unrecognized tax benefits would materially change in the next 12 months. .
[['balance as of september 30 2007', '$ 475'], ['increases related to tax positions taken during a prior period', '27'], ['decreases related to tax positions taken during a prior period', '-70 ( 70 )'], ['increases related to tax positions taken during the current period', '85'], ['decreases related to settlements with taxing authorities', '2014'], ['decreases related to expiration of statute of limitations', '-11 ( 11 )'], ['balance as of september 27 2008', '$ 506']]
.
|
what is the net of increases related to tax positions taken during a prior period and decreases related to tax positions taken during a prior period , in millions?
|
-43
|
{
"answer": "-43",
"decimal": -43,
"type": "float"
}
| |
part a0ii item a05 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our common stock is listed on the new york stock exchange under the symbol 201ctfx . 201d as of february 19 , 2019 , we had 473 holders of record of our common stock .a substantially greater number of holders of our common stock are beneficial owners whose shares are held by brokers and other financial institutions for the accounts of beneficial owners .stock performance graph the following graph provides a comparison of five year cumulative total stockholder returns of teleflex common stock , the standard a0& poor 2019s ( s&p ) 500 stock index and the s&p 500 healthcare equipment & supply index .the annual changes for the five-year period shown on the graph are based on the assumption that $ 100 had been invested in teleflex common stock and each index on december a031 , 2013 and that all dividends were reinvested .market performance .
[['company / index', '2013', '2014', '2015', '2016', '2017', '2018'], ['teleflex incorporated', '100', '124', '143', '177', '275', '288'], ['s&p 500 index', '100', '114', '115', '129', '157', '150'], ['s&p 500 healthcare equipment & supply index', '100', '126', '134', '142', '186', '213']]
s&p 500 healthcare equipment & supply index 100 126 134 142 186 213 .
|
what is the roi of an investment in teleflex incorporated from 2014 to 2015?
|
15.3%
|
{
"answer": "15.3%",
"decimal": 0.153,
"type": "percentage"
}
| |
vornado realty trust notes to consolidated financial statements ( continued ) 9 .debt - continued our revolving credit facility and senior unsecured notes contain financial covenants which require us to maintain minimum interest coverage ratios and limit our debt to market capitalization ratios .we believe that we have complied with all of our financial covenants as of december 31 , 2007 .on may 9 , 2006 , we executed supplemental indentures with respect to our senior unsecured notes due 2007 , 2009 and 2010 ( collectively , the 201cnotes 201d ) , pursuant to our consent solicitation statement dated april 18 , 2006 , as amended .holders of approximately 96.7% ( 96.7 % ) of the aggregate principal amount of the notes consented to the solicitation .the supplemental indentures contain modifications of certain covenants and related defined terms governing the terms of the notes to make them consistent with corresponding provisions of the covenants and defined terms included in the senior unsecured notes due 2011 issued on february 16 , 2006 .the supplemental indentures also include a new covenant that provides for an increase in the interest rate of the notes upon certain decreases in the ratings assigned by rating agencies to the notes .in connection with the consent solicitation we paid an aggregate fee of $ 2241000 to the consenting note holders , which will be amortized into expense over the remaining term of the notes .in addition , we incurred advisory and professional fees aggregating $ 1415000 , which were expensed in 2006 .the net carrying amount of properties collateralizing the notes and mortgages payable amounted to $ 10.920 billion at december 31 , 2007 .as at december 31 , 2007 , the principal repayments required for the next five years and thereafter are as follows : ( amounts in thousands ) .
[['year ending december 31,', 'amount'], ['2008', '$ 526768'], ['2009', '478269'], ['2010', '778320'], ['2011', '1071195'], ['2012', '609546'], ['thereafter', '5473734']]
.
|
principal payments required for 2009 were what percent of those for 2010?
|
61.4%
|
{
"answer": "61.4%",
"decimal": 0.614,
"type": "percentage"
}
| |
z i m m e r h o l d i n g s , i n c .a n d s u b s i d i a r i e s 2 0 0 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 total contractual obligations is comprised of operating leases?
|
5%
|
{
"answer": "5%",
"decimal": 0.05,
"type": "percentage"
}
| |
2022 selling costs increased $ 5.4 million to $ 17.1 million in 2005 from $ 11.7 million in 2004 .this increase was due to increased headcount in our sales force and startup costs associated with our international growth initiatives .as a percentage of net revenues , selling costs increased to 6.1% ( 6.1 % ) in 2005 from 5.7% ( 5.7 % ) in 2004 due to the increased costs described above .2022 payroll and related costs ( excluding those specifically related to marketing and selling ) increased $ 8.6 million to $ 26.9 million in 2005 , from $ 18.3 million in 2004 .the increase during 2005 was due to the following initiatives : we began to build our team to design and source our footwear line , which we expect to offer for the fall 2006 season , we added personnel to our information technology team to support our company-wide initiative to upgrade our information systems , we incurred equity compensation costs , we added personnel to operate our 3 new retail outlet stores , and we invested in the personnel needed to enhance our compliance function and operate as a public company .as a percentage of net revenues , payroll and related costs ( excluding those specifically related to marketing and selling ) increased to 9.6% ( 9.6 % ) in 2005 from 8.9% ( 8.9 % ) in 2004 due to the items described above .2022 other corporate costs increased $ 7.2 million to $ 25.5 million in 2005 , from $ 18.3 million in 2004 .this increase was attributable to higher costs in support of our footwear initiative , freight and duty related to increased canada sales , expansion of our leased corporate office space and distribution facility , and necessary costs associated with being a public company .as a percentage of net revenues , other corporate costs were 9.1% ( 9.1 % ) in 2005 , which is a slight increase from 8.9% ( 8.9 % ) in 2004 due to the items noted above .income from operations increased $ 10.5 million , or 41.4% ( 41.4 % ) , to $ 35.9 million in 2005 from $ 25.4 million in 2004 .income from operations as a percentage of net revenues increased to 12.7% ( 12.7 % ) in 2005 from 12.4% ( 12.4 % ) in 2004 .this increase was a result of an increase in gross margin partially offset by an increase in selling , general and administrative expenses as a percentage of net revenues .interest expense , net increased $ 1.6 million to $ 2.9 million in 2005 from $ 1.3 million in 2004 .this increase was primarily due to higher average borrowings and a higher effective interest rate under our revolving credit facility prior to being repaid in november 2005 with proceeds from the initial public offering .provision for income taxes increased $ 5.5 million to $ 13.3 million in 2005 from $ 7.8 million in 2004 .for the year ended december 31 , 2005 our effective tax rate was 40.2% ( 40.2 % ) compared to 32.3% ( 32.3 % ) in 2004 .this increase was primarily due to an increase in our effective state tax rate , which reflected reduced state tax credits earned as a percentage of income before taxes .net income increased $ 3.4 million to $ 19.7 million in 2005 from $ 16.3 million in 2004 , as a result of the factors described above .year ended december 31 , 2004 compared to year ended december 31 , 2003 net revenues increased $ 89.8 million , or 77.8% ( 77.8 % ) , to $ 205.2 million in 2004 from $ 115.4 million in 2003 .the increase was a result of increases in both our net sales and license revenues as noted in the product category table below. .
[['( in thousands )', 'year ended december 31 , 2004', 'year ended december 31 , 2003', 'year ended december 31 , $ change', 'year ended december 31 , % ( % ) change'], ['mens', '$ 151962', '$ 92197', '$ 59765', '64.8% ( 64.8 % )'], ['womens', '28659', '10968', '17691', '161.3% ( 161.3 % )'], ['youth', '12705', '8518', '4187', '49.2% ( 49.2 % )'], ['accessories', '7548', '2072', '5476', '264.3% ( 264.3 % )'], ['total net sales', '200874', '113755', '87119', '76.6% ( 76.6 % )'], ['license revenues', '4307', '1664', '2643', '158.8% ( 158.8 % )'], ['total net revenues', '$ 205181', '$ 115419', '$ 89762', '77.8% ( 77.8 % )']]
.
|
what was the percent of growth in total net revenues from 2003 to 2004
|
77.8%
|
{
"answer": "77.8%",
"decimal": 0.778,
"type": "percentage"
}
| |
affected by lower sales volume of cabinets , the divestiture of our arrow and moores businesses , and an unfavorable sales mix of international plumbing products , which , in aggregate , decreased sales by approximately two percent compared to 2016 .net sales for 2016 were positively affected by increased sales volume of plumbing products , paints and other coating products and builders' hardware , which , in aggregate , increased sales by approximately five percent compared to 2015 .net sales for 2016 were also positively affected by favorable sales mix of cabinets and windows , and net selling price increases of north american windows and north american and international plumbing products , which , in aggregate , increased sales approximately one percent .net sales for 2016 were negatively affected by lower sales volume of cabinets and lower net selling prices of paints and other coating products , which , in aggregate , decreased sales by approximately two percent .net sales for 2015 were positively affected by increased sales volume of plumbing products , paints and other coating products , windows and builders' hardware .net sales for 2015 were also positively affected by net selling price increases of plumbing products , cabinets and windows , as well as sales mix of north american cabinets and windows .net sales for 2015 were negatively affected by lower sales volume of cabinets and lower net selling prices of paints and other coating products .our gross profit margins were 34.2 percent , 33.4 percent and 31.5 percent in 2017 , 2016 and 2015 , respectively .the 2017 and 2016 gross profit margins were positively impacted by increased sales volume , a more favorable relationship between net selling prices and commodity costs , and cost savings initiatives .2016 gross profit margins were negatively impacted by an increase in warranty costs resulting from a change in our estimate of expected future warranty claim costs .selling , general and administrative expenses as a percent of sales were 18.9 percent in 2017 compared with 19.1 percent in 2016 and 18.7 percent in 2015 .selling , general and administrative expenses as a percent of sales in 2017 reflect increased sales and the effect of cost containment measures , partially offset by an increase in strategic growth investments , stock-based compensation , health insurance costs and trade show costs .selling , general and administrative expenses as a percent of sales in 2016 reflect strategic growth investments , erp system implementation costs and higher insurance costs .the following table reconciles reported operating profit to operating profit , as adjusted to exclude certain items , dollars in millions: .
[['', '2017', '2016', '2015'], ['operating profit as reported', '$ 1169', '$ 1053', '$ 914'], ['rationalization charges', '4', '22', '18'], ['gain from sale of property and equipment', '2014', '2014', '-5 ( 5 )'], ['operating profit as adjusted', '$ 1173', '$ 1075', '$ 927'], ['operating profit margins as reported', '15.3% ( 15.3 % )', '14.3% ( 14.3 % )', '12.8% ( 12.8 % )'], ['operating profit margins as adjusted', '15.3% ( 15.3 % )', '14.6% ( 14.6 % )', '13.0% ( 13.0 % )']]
operating profit margins in 2017 and 2016 were positively affected by increased sales volume , cost savings initiatives , and a more favorable relationship between net selling prices and commodity costs .operating profit margin in 2017 was negatively impacted by an increase in strategic growth investments and certain other expenses , including stock-based compensation , health insurance costs , trade show costs and increased head count .operating profit margin in 2016 was negatively impacted by an increase in warranty costs by a business in our windows and other specialty products segment and an increase in strategic growth investments , as well as erp system implementation costs and higher insurance costs ........................................................... ................................................................... ...................................... ......................................................... ............................................. .............................................. .
|
what was the percent of the increase in the operating profit as reported from 2016 to 2017
|
11%
|
{
"answer": "11%",
"decimal": 0.11,
"type": "percentage"
}
|
the operating profit as reported increased by 11% from 2016 to 2017
|
table of contents ( 4 ) the increase in cash flows was primarily due to the timing of inventory purchases and longer payment terms with certain vendors .in order to manage our working capital and operating cash needs , we monitor our cash conversion cycle , defined as days of sales outstanding in accounts receivable plus days of supply in inventory minus days of purchases outstanding in accounts payable , based on a rolling three-month average .components of our cash conversion cycle are as follows: .
[['( in days )', 'december 31 , 2017', 'december 31 , 2016', 'december 31 , 2015'], ['days of sales outstanding ( dso ) ( 1 )', '52', '51', '48'], ['days of supply in inventory ( dio ) ( 2 )', '12', '12', '13'], ['days of purchases outstanding ( dpo ) ( 3 )', '-45 ( 45 )', '-44 ( 44 )', '-40 ( 40 )'], ['cash conversion cycle', '19', '19', '21']]
( 1 ) represents the rolling three-month average of the balance of accounts receivable , net at the end of the period , divided by average daily net sales for the same three-month period .also incorporates components of other miscellaneous receivables .( 2 ) represents the rolling three-month average of the balance of merchandise inventory at the end of the period divided by average daily cost of sales for the same three-month period .( 3 ) represents the rolling three-month average of the combined balance of accounts payable-trade , excluding cash overdrafts , and accounts payable-inventory financing at the end of the period divided by average daily cost of sales for the same three-month period .the cash conversion cycle was 19 days at december 31 , 2017 and 2016 .the increase in dso was primarily driven by higher net sales and related accounts receivable for third-party services such as saas , software assurance and warranties .these services have an unfavorable impact on dso as the receivable is recognized on the consolidated balance sheet on a gross basis while the corresponding sales amount in the consolidated statement of operations is recorded on a net basis .this also results in a favorable impact on dpo as the payable is recognized on the consolidated balance sheet without a corresponding cost of sales in the statement of operations because the cost paid to the vendor or third-party service provider is recorded as a reduction to net sales .in addition , dpo also increased due to the mix of payables with certain vendors that have longer payment terms .the cash conversion cycle was 19 and 21 days at december 31 , 2016 and 2015 , respectively .the increase in dso was primarily driven by higher net sales and related accounts receivable for third-party services such as saas , software assurance and warranties .these services have an unfavorable impact on dso as the receivable is recognized on the balance sheet on a gross basis while the corresponding sales amount in the statement of operations is recorded on a net basis .these services have a favorable impact on dpo as the payable is recognized on the balance sheet without a corresponding cost of sale in the statement of operations because the cost paid to the vendor or third-party service provider is recorded as a reduction to net sales .in addition to the impact of these services on dpo , dpo also increased due to the mix of payables with certain vendors that have longer payment terms .investing activities net cash used in investing activities increased $ 15 million in 2017 compared to 2016 .capital expenditures increased $ 17 million to $ 81 million from $ 64 million for 2017 and 2016 , respectively , primarily related to improvements to our information technology systems .net cash used in investing activities decreased $ 289 million in 2016 compared to 2015 .the decrease in cash used was primarily due to the completion of the acquisition of cdw uk in 2015 .additionally , capital expenditures decreased $ 26 million to $ 64 million from $ 90 million for 2016 and 2015 , respectively , primarily due to spending for our new office location in 2015 .financing activities net cash used in financing activities increased $ 514 million in 2017 compared to 2016 .the increase was primarily driven by changes in accounts payable-inventory financing , which resulted in an increase in cash used for financing activities of $ 228 million and by share repurchases during 2017 , which resulted in an increase in cash used for financing activities of $ 167 million .for more information on our share repurchase program , see part ii , item 5 , 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities . 201d the increase in cash used for accounts payable-inventory financing was primarily driven by the termination of one of our inventory financing agreements in the fourth quarter of 2016 , with amounts .
|
by what percentage did the cash conversion cycle decrease from dec 31 , 2015 to dec 31 , 2016?
|
9.5%
|
{
"answer": "9.5%",
"decimal": 0.095,
"type": "percentage"
}
| |
notes to consolidated financial statements investments in funds that calculate net asset value per share cash instruments at fair value include investments in funds that are valued based on the net asset value per share ( nav ) of the investment fund .the firm uses nav as its measure of fair value for fund investments when ( i ) the fund investment does not have a readily determinable fair value and ( ii ) the nav of the investment fund is calculated in a manner consistent with the measurement principles of investment company accounting , including measurement of the underlying investments at fair value .the firm 2019s investments in funds that calculate nav primarily consist of investments in firm-sponsored funds where the firm co-invests with third-party investors .the private equity , credit and real estate funds are primarily closed-end funds in which the firm 2019s investments are not eligible for redemption .distributions will be received from these funds as the underlying assets are liquidated and it is estimated that substantially all of the underlying assets of existing funds will be liquidated over the next seven years .the firm continues to manage its existing funds taking into account the transition periods under the volcker rule of the u.s .dodd-frank wall street reform and consumer protection act ( dodd-frank act ) , although the rules have not yet been finalized .the firm 2019s investments in hedge funds are generally redeemable on a quarterly basis with 91 days 2019 notice , subject to a maximum redemption level of 25% ( 25 % ) of the firm 2019s initial investments at any quarter-end .the firm currently plans to comply with the volcker rule by redeeming certain of its interests in hedge funds .the firm redeemed approximately $ 1.06 billion of these interests in hedge funds during the year ended december 2012 .the table below presents the fair value of the firm 2019s investments in , and unfunded commitments to , funds that calculate nav. .
[['in millions', 'as of december 2012 fair value of investments', 'as of december 2012 unfunded commitments', 'as of december 2012 fair value of investments', 'unfunded commitments'], ['private equity funds1', '$ 7680', '$ 2778', '$ 8074', '$ 3514'], ['credit funds2', '3927', '2843', '3596', '3568'], ['hedge funds3', '2167', '2014', '3165', '2014'], ['real estatefunds4', '2006', '870', '1531', '1613'], ['total', '$ 15780', '$ 6491', '$ 16366', '$ 8695']]
1 .these funds primarily invest in a broad range of industries worldwide in a variety of situations , including leveraged buyouts , recapitalizations and growth investments .2 .these funds generally invest in loans and other fixed income instruments and are focused on providing private high-yield capital for mid- to large-sized leveraged and management buyout transactions , recapitalizations , financings , refinancings , acquisitions and restructurings for private equity firms , private family companies and corporate issuers .3 .these funds are primarily multi-disciplinary hedge funds that employ a fundamental bottom-up investment approach across various asset classes and strategies including long/short equity , credit , convertibles , risk arbitrage , special situations and capital structure arbitrage .4 .these funds invest globally , primarily in real estate companies , loan portfolios , debt recapitalizations and direct property .goldman sachs 2012 annual report 127 .
|
what is the growth rate in the fair value of private equity funds in 2012?
|
-4.9%
|
{
"answer": "-4.9%",
"decimal": -0.049,
"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 general and administrative expense from 2001 to 2002?
|
62.8%
|
{
"answer": "62.8%",
"decimal": 0.628,
"type": "percentage"
}
|
unable to synthesize table and text because it is unclear whether the table is in thousands or millions .
|
notes to consolidated financial statements ( continued ) fair value measurements the fasb issued updated authoritative guidance in may 2011 to amend fair value measurements and related disclosures ; the guidance became effective for snap-on at the beginning of its 2012 fiscal year .this guidance relates to a major convergence project of the fasb and the international accounting standards board to improve international financial reporting standards ( 201cifrs 201d ) and u.s .gaap .this guidance resulted in a consistent definition of fair value and common requirements for measurement of and disclosure about fair value between ifrs and u.s .gaap .the guidance also changed some fair value measurement principles and enhanced disclosure requirements related to activities in level 3 of the fair value hierarchy .the adoption of this updated authoritative guidance had no impact on the company 2019s consolidated financial statements .disclosures relating to comprehensive income the fasb issued updated authoritative guidance in june 2011 to amend the presentation of comprehensive income in financial statements .the fasb also issued an accounting standards update in december 2011 that indefinitely deferred certain financial statement presentation provisions contained in its original june 2011 guidance .the guidance , which became effective for snap-on on a retrospective basis at the beginning of its 2012 fiscal year , gives companies the option to present other comprehensive income in either a single continuous statement or in two separate but consecutive statements .under both alternatives , companies are required to annually present each component of comprehensive income .the adoption of this updated authoritative guidance impacted the presentation of the company 2019s consolidated statements of comprehensive income , but it did not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income .note 2 : acquisitions snap-on acquired a 60% ( 60 % ) interest in snap-on asia manufacturing ( zhejiang ) co .ltd .( 201cxiaoshan 201d ) ( formerly known as wanda snap-on ( zhejiang ) co .ltd. ) , the company 2019s tool manufacturing operation in xiaoshan , china , in 2008 .snap-on acquired the remaining 40% ( 40 % ) redeemable noncontrolling interest in xiaoshan in april 2010 for a purchase price of $ 7.7 million and $ 0.1 million of transaction costs .note 3 : receivables trade and other accounts receivable snap-on 2019s trade and other accounts receivable primarily arise from the sale of tools , diagnostics and equipment to a broad range of industrial and commercial customers and to snap-on 2019s independent franchise van channel on a non- extended-term basis with payment terms generally ranging from 30 to 120 days .the components of snap-on 2019s trade and other accounts receivable as of 2012 and 2011 year end are as follows : ( amounts in millions ) 2012 2011 .
[['( amounts in millions )', '2012', '2011'], ['trade and other accounts receivable', '$ 516.9', '$ 485.5'], ['allowances for doubtful accounts', '-19.0 ( 19.0 )', '-22.0 ( 22.0 )'], ['total trade and other accounts receivable 2013 net', '$ 497.9', '$ 463.5']]
finance and contract receivables soc originates extended-term finance and contract receivables on sales of snap-on product sold through the u.s .franchisee and customer network and to snap-on 2019s industrial and other customers ; snap-on 2019s foreign finance subsidiaries provide similar financing internationally .interest income on finance and contract receivables is included in 201cfinancial services revenue 201d on the accompanying consolidated statements of earnings .74 snap-on incorporated .
|
what portion for the trade and other accounts receivable is classified as part of the allowances for doubtful accounts?
|
3.7%
|
{
"answer": "3.7%",
"decimal": 0.037000000000000005,
"type": "percentage"
}
| |
jpmorgan chase & co ./ 2008 annual report 175jpmorgan chase & co ./ 2008 annual report 175jpmorgan chase & co ./ 2008 annual report 175jpmorgan chase & co ./ 2008 annual report 175jpmorgan chase & co ./ 2008 annual report 175 securities borrowed and securities lent are recorded at the amount of cash collateral advanced or received .securities borrowed consist primarily of government and equity securities .jpmorgan chase moni- tors the market value of the securities borrowed and lent on a daily basis and calls for additional collateral when appropriate .fees received or paid in connection with securities borrowed and lent are recorded in interest income or interest expense .the following table details the components of collateralized financings. .
[['december 31 ( in millions )', '2008', '2007'], ['securities purchased under resale agreements ( a )', '$ 200265', '$ 169305'], ['securities borrowed ( b )', '124000', '84184'], ['securities sold under repurchase agreements ( c )', '$ 174456', '$ 126098'], ['securities loaned', '6077', '10922']]
( a ) includes resale agreements of $ 20.8 billion and $ 19.1 billion accounted for at fair value at december 31 , 2008 and 2007 , respectively .( b ) includes securities borrowed of $ 3.4 billion accounted for at fair value at december 31 , 2008 .( c ) includes repurchase agreements of $ 3.0 billion and $ 5.8 billion accounted for at fair value at december 31 , 2008 and 2007 , respectively .jpmorgan chase pledges certain financial instruments it owns to col- lateralize repurchase agreements and other securities financings .pledged securities that can be sold or repledged by the secured party are identified as financial instruments owned ( pledged to various parties ) on the consolidated balance sheets .at december 31 , 2008 , the firm received securities as collateral that could be repledged , delivered or otherwise used with a fair value of approximately $ 511.9 billion .this collateral was generally obtained under resale or securities borrowing agreements .of these securities , approximately $ 456.6 billion were repledged , delivered or otherwise used , generally as collateral under repurchase agreements , securities lending agreements or to cover short sales .note 14 2013 loans the accounting for a loan may differ based upon whether it is origi- nated or purchased and as to whether the loan is used in an invest- ing or trading strategy .for purchased loans held-for-investment , the accounting also differs depending on whether a loan is credit- impaired at the date of acquisition .purchased loans with evidence of credit deterioration since the origination date and for which it is probable , at acquisition , that all contractually required payments receivable will not be collected are considered to be credit-impaired .the measurement framework for loans in the consolidated financial statements is one of the following : 2022 at the principal amount outstanding , net of the allowance for loan losses , unearned income and any net deferred loan fees or costs , for loans held for investment ( other than purchased credit- impaired loans ) ; 2022 at the lower of cost or fair value , with valuation changes record- ed in noninterest revenue , for loans that are classified as held- for-sale ; or 2022 at fair value , with changes in fair value recorded in noninterest revenue , for loans classified as trading assets or risk managed on a fair value basis ; 2022 purchased credit-impaired loans held for investment are account- ed for under sop 03-3 and initially measured at fair value , which includes estimated future credit losses .accordingly , an allowance for loan losses related to these loans is not recorded at the acquisition date .see note 5 on pages 156 2013158 of this annual report for further information on the firm 2019s elections of fair value accounting under sfas 159 .see note 6 on pages 158 2013160 of this annual report for further information on loans carried at fair value and classified as trading assets .for loans held for investment , other than purchased credit-impaired loans , interest income is recognized using the interest method or on a basis approximating a level rate of return over the term of the loan .loans within the held-for-investment portfolio that management decides to sell are transferred to the held-for-sale portfolio .transfers to held-for-sale are recorded at the lower of cost or fair value on the date of transfer .credit-related losses are charged off to the allowance for loan losses and losses due to changes in interest rates , or exchange rates , are recognized in noninterest revenue .loans within the held-for-sale portfolio that management decides to retain are transferred to the held-for-investment portfolio at the lower of cost or fair value .these loans are subsequently assessed for impairment based on the firm 2019s allowance methodology .for a fur- ther discussion of the methodologies used in establishing the firm 2019s allowance for loan losses , see note 15 on pages 178 2013180 of this annual report .nonaccrual loans are those on which the accrual of interest is dis- continued .loans ( other than certain consumer and purchased credit- impaired loans discussed below ) are placed on nonaccrual status immediately if , in the opinion of management , full payment of princi- pal or interest is in doubt , or when principal or interest is 90 days or more past due and collateral , if any , is insufficient to cover principal and interest .loans are charged off to the allowance for loan losses when it is highly certain that a loss has been realized .interest accrued but not collected at the date a loan is placed on nonaccrual status is reversed against interest income .in addition , the amortiza- tion of net deferred loan fees is suspended .interest income on nonaccrual loans is recognized only to the extent it is received in cash .however , where there is doubt regarding the ultimate col- lectibility of loan principal , all cash thereafter received is applied to reduce the carrying value of such loans ( i.e. , the cost recovery method ) .loans are restored to accrual status only when future pay- ments of interest and principal are reasonably assured .consumer loans , other than purchased credit-impaired loans , are generally charged to the allowance for loan losses upon reaching specified stages of delinquency , in accordance with the federal financial institutions examination council policy .for example , credit card loans are charged off by the end of the month in which the account becomes 180 days past due or within 60 days from receiv- ing notification of the filing of bankruptcy , whichever is earlier .residential mortgage products are generally charged off to net real- izable value at no later than 180 days past due .other consumer .
|
as of december 31 , 2008 , how much of the collateral related to short sales , repo's , or securities lending agreements?
|
89.2%
|
{
"answer": "89.2%",
"decimal": 0.892,
"type": "percentage"
}
| |
the following table presents tower cash flow , adjusted consolidated cash flow and non-tower cash flow for the company and its restricted subsidiaries , as defined in the indentures for the applicable notes ( in thousands ) : .
[['tower cash flow for the three months ended december 31 2007', '$ 177724'], ['consolidated cash flow for the twelve months ended december 31 2007', '$ 668123'], ['less : tower cash flow for the twelve months ended december 31 2007', '-683200 ( 683200 )'], ['plus : four times tower cash flow for the three months ended december 31 2007', '710896'], ['adjusted consolidated cash flow for the twelve months ended december 31 2007', '$ 695819'], ['non-tower cash flow for the twelve months ended december 31 2007', '$ -48012 ( 48012 )']]
.
|
what would annualized tower cash flow be based on the tower cash flow for the fourth quarter of 2007 , in thousands?
|
710896
|
{
"answer": "710896",
"decimal": 710896,
"type": "float"
}
|
last three months - q4
|
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 $ 559 million as of may 27 , as of may 27 , 2018 , we had invested in five variable interest entities ( vies ) .none of our vies are material to our results of operations , financial condition , or liquidity as of and for the fiscal year ended may 27 , 2018 .our defined benefit plans in the united states are subject to the requirements of the pension protection act ( ppa ) .in the future , the ppa may require us to make additional contributions to our domestic plans .we do not expect to be required to make any contributions in fiscal 2019 .the following table summarizes our future estimated cash payments under existing contractual obligations , including payments due by period: .
[['in millions', 'payments due by fiscal year total', 'payments due by fiscal year 2019', 'payments due by fiscal year 2020 -21', 'payments due by fiscal year 2022 -23', 'payments due by fiscal year 2024 and thereafter'], ['long-term debt ( a )', '$ 14354.0', '$ 1599.8', '$ 3122.6', '$ 2315.5', '$ 7316.1'], ['accrued interest', '107.7', '107.7', '-', '-', '-'], ['operating leases ( b )', '559.3', '137.4', '208.0', '122.7', '91.2'], ['capital leases', '0.5', '0.3', '0.2', '-', '-'], ['purchase obligations ( c )', '3417.0', '2646.9', '728.8', '39.8', '1.5'], ['total contractual obligations', '18438.5', '4492.1', '4059.6', '2478.0', '7408.8'], ['other long-term obligations ( d )', '1199.0', '-', '-', '-', '-'], ['total long-term obligations', '$ 19637.5', '$ 4492.1', '$ 4059.6', '$ 2478.0', '$ 7408.8']]
( a ) amounts represent the expected cash payments of our long-term debt and do not include $ 0.5 million for capital leases or $ 85.7 million for net unamortized debt issuance costs , premiums and discounts , and fair value adjustments .( b ) operating leases represents the minimum rental commitments under non-cancelable operating leases .( c ) the majority of the purchase obligations represent commitments for raw material and packaging to be utilized in the normal course of business and for consumer marketing spending commitments that support our brands .for purposes of this table , arrangements are considered purchase obligations if a contract specifies all significant terms , including fixed or minimum quantities to be purchased , a pricing structure , and approximate timing of the transaction .most arrangements are cancelable without a significant penalty and with short notice ( usually 30 days ) .any amounts reflected on the consolidated balance sheets as accounts payable and accrued liabilities are excluded from the table above .( d ) the fair value of our foreign exchange , equity , commodity , and grain derivative contracts with a payable position to the counterparty was $ 16 million as of may 27 , 2018 , based on fair market values as of that date .future changes in market values will impact the amount of cash ultimately paid or received to settle those instruments in the future .other long-term obligations mainly consist of liabilities for accrued compensation and benefits , including the underfunded status of certain of our defined benefit pension , other postretirement benefit , and postemployment benefit plans , and miscellaneous liabilities .we expect to pay $ 20 million of benefits from our unfunded postemployment benefit plans and $ 18 million of deferred compensation in fiscal 2019 .we are unable to reliably estimate the amount of these payments beyond fiscal 2019 .as of may 27 , 2018 , our total liability for uncertain tax positions and accrued interest and penalties was $ 223.6 million .significant accounting estimates for a complete description of our significant accounting policies , please see note 2 to the consolidated financial statements in item 8 of this report .our significant accounting estimates are those that have a meaningful impact .
|
what is the percent of the future estimated cash payments under existing contractual obligations that was due in 2019 for long-term debt
|
11.1%
|
{
"answer": "11.1%",
"decimal": 0.111,
"type": "percentage"
}
| |
masco corporation notes to consolidated financial statements ( continued ) t .other commitments and contingencies litigation .we are subject to claims , charges , litigation and other proceedings in the ordinary course of our business , including those arising from or related to contractual matters , intellectual property , personal injury , environmental matters , product liability , construction defect , insurance coverage , personnel and employment disputes and other matters , including class actions .we believe we have adequate defenses in these matters and that the outcome of these matters is not likely to have a material adverse effect on us .however , there is no assurance that we will prevail in these matters , and we could in the future incur judgments , enter into settlements of claims or revise our expectations regarding the outcome of these matters , which could materially impact our results of operations .in july 2012 , the company reached a settlement agreement related to the columbus drywall litigation .the company and its insulation installation companies named in the suit agreed to pay $ 75 million in return for dismissal with prejudice and full release of all claims .the company and its insulation installation companies continue to deny that the challenged conduct was unlawful and admit no wrongdoing as part of the settlement .a settlement was reached to eliminate the considerable expense and uncertainty of this lawsuit .the company recorded the settlement expense in the second quarter of 2012 and the amount was paid in the fourth quarter of 2012 .warranty .at the time of sale , the company accrues a warranty liability for the estimated cost to provide products , parts or services to repair or replace products in satisfaction of warranty obligations .during the third quarter of 2012 , a business in the other specialty products segment recorded a $ 12 million increase in expected future warranty claims resulting from the completion of an analysis prepared by the company based upon its periodic assessment of recent business unit specific operating trends including , among others , home ownership demographics , sales volumes , manufacturing quality , an analysis of recent warranty claim activity and an estimate of current costs to service anticipated claims .changes in the company 2019s warranty liability were as follows , in millions: .
[['', '2012', '2011'], ['balance at january 1', '$ 102', '$ 107'], ['accruals for warranties issued during the year', '42', '28'], ['accruals related to pre-existing warranties', '16', '8'], ['settlements made ( in cash or kind ) during the year', '-38 ( 38 )', '-38 ( 38 )'], ['other net ( including currency translation )', '-4 ( 4 )', '-3 ( 3 )'], ['balance at december 31', '$ 118', '$ 102']]
investments .with respect to the company 2019s investments in private equity funds , the company had , at december 31 , 2012 , commitments to contribute up to $ 19 million of additional capital to such funds representing the company 2019s aggregate capital commitment to such funds less capital contributions made to date .the company is contractually obligated to make additional capital contributions to certain of its private equity funds upon receipt of a capital call from the private equity fund .the company has no control over when or if the capital calls will occur .capital calls are funded in cash and generally result in an increase in the carrying value of the company 2019s investment in the private equity fund when paid. .
|
what was the percent of the change in the company 2019s warranty liability from 2011 to 2012
|
15.7%
|
{
"answer": "15.7%",
"decimal": 0.157,
"type": "percentage"
}
|
the company 2019s warranty liability increased by 15.7% from 2011 to 2012
|
performance graph the performance graph below shows the five-year cumulative total stockholder return on applied common stock during the period from october 25 , 2009 through october 26 , 2014 .this is compared with the cumulative total return of the standard & poor 2019s 500 stock index and the rdg semiconductor composite index over the same period .the comparison assumes $ 100 was invested on october 25 , 2009 in applied common stock and in each of the foregoing indices and assumes reinvestment of dividends , if any .dollar amounts in the graph are rounded to the nearest whole dollar .the performance shown in the graph represents past performance and should not be considered an indication of future performance .comparison of 5 year cumulative total return* among applied materials , inc. , the s&p 500 index 201cs&p 201d is a registered trademark of standard & poor 2019s financial services llc , a subsidiary of the mcgraw-hill companies , inc. .
[['', '10/25/2009', '10/31/2010', '10/30/2011', '10/28/2012', '10/27/2013', '10/26/2014'], ['applied materials', '100.00', '97.43', '101.85', '88.54', '151.43', '183.29'], ['s&p 500 index', '100.00', '116.52', '125.94', '145.09', '184.52', '216.39'], ['rdg semiconductor composite index', '100.00', '121.00', '132.42', '124.95', '163.20', '207.93']]
dividends during fiscal 2014 , applied 2019s board of directors declared four quarterly cash dividends of $ 0.10 per share each .during fiscal 2013 , applied 2019s board of directors declared three quarterly cash dividends of $ 0.10 per share each and one quarterly cash dividend of $ 0.09 per share .during fiscal 2012 , applied 2019s board of directors declared three quarterly cash dividends of $ 0.09 per share each and one quarterly cash dividend of $ 0.08 .dividends declared during fiscal 2014 , 2013 and 2012 totaled $ 487 million , $ 469 million and $ 438 million , respectively .applied currently anticipates that it will continue to pay cash dividends on a quarterly basis in the future , although the declaration and amount of any future cash dividends are at the discretion of the board of directors and will depend on applied 2019s financial condition , results of operations , capital requirements , business conditions and other factors , as well as a determination that cash dividends are in the best interests of applied 2019s stockholders .$ 100 invested on 10/25/09 in stock or 10/31/09 in index , including reinvestment of dividends .indexes calculated on month-end basis .and the rdg semiconductor composite index 183145 97 102 121 132 10/25/09 10/31/10 10/30/11 10/28/12 10/27/13 10/26/14 applied materials , inc .s&p 500 rdg semiconductor composite .
|
how many shares received dividends during 2014 , ( in millions ) ?
|
1217.5
|
{
"answer": "1217.5",
"decimal": 1217.5,
"type": "float"
}
| |
notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d .1 .nature of operations operations and segmentation 2013 we are a class i railroad that operates in the u.s .we have 31953 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s .gateways and providing several corridors to key mexican gateways .we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico .export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders .the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment .although revenues are analyzed by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network .the following table provides revenue by commodity group : millions 2010 2009 2008 .
[['millions', '2010', '2009', '2008'], ['agricultural', '$ 3018', '$ 2666', '$ 3174'], ['automotive', '1271', '854', '1344'], ['chemicals', '2425', '2102', '2494'], ['energy', '3489', '3118', '3810'], ['industrial products', '2639', '2147', '3273'], ['intermodal', '3227', '2486', '3023'], ['total freight revenues', '$ 16069', '$ 13373', '$ 17118'], ['other revenues', '896', '770', '852'], ['total operating revenues', '$ 16965', '$ 14143', '$ 17970']]
although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported are outside the u.s .basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s .( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .2 .significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries .investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting .all intercompany transactions are eliminated .we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements .cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less .accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts .the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions .receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position .investments 2013 investments represent our investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) that are accounted for under the equity method of accounting and investments in companies ( less than 20% ( 20 % ) owned ) accounted for under the cost method of accounting. .
|
from 2008 to 2010 what was the average revenues by commodity group from agriculture
|
2952.7
|
{
"answer": "2952.7",
"decimal": 2952.7,
"type": "float"
}
| |
average cost of debt from 7.1% ( 7.1 % ) to an effective rate of 6.9% ( 6.9 % ) .the inclusion of the offsetting interest income from short-term investments reduced this effective rate to 6.26% ( 6.26 % ) .other financing activities during 2011 included the issuance of approximately 0.3 million shares of treasury stock for various incentive plans and the acquisition of 1.0 million shares of treasury stock primarily related to restricted stock withholding taxes .payments of restricted stock withholding taxes totaled $ 30 million .off-balance sheet variable interest entities information concerning off-balance sheet variable interest entities is set forth in note 12 variable interest entities and preferred securities of subsidiaries on pages 72 through 75 of item 8 .financial statements and supplementary data for discussion .liquidity and capital resources outlook for 2014 capital expenditures and long-term debt international paper expects to be able to meet projected capital expenditures , service existing debt and meet working capital and dividend requirements during 2014 through current cash balances and cash from operations .additionally , the company has existing credit facilities totaling $ 2.0 billion .the company was in compliance with all its debt covenants at december 31 , 2013 .the company 2019s financial covenants require the maintenance of a minimum net worth of $ 9 billion and a total debt-to- capital ratio of less than 60% ( 60 % ) .net worth is defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock plus any cumulative goodwill impairment charges .the calculation also excludes accumulated other comprehensive income/ loss and nonrecourse financial liabilities of special purpose entities .the total debt-to-capital ratio is defined as total debt divided by the sum of total debt plus net worth .at december 31 , 2013 , international paper 2019s net worth was $ 15.1 billion , and the total-debt- to-capital ratio was 39% ( 39 % ) .the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows .funding decisions will be guided by our capital structure planning objectives .the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense .the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors .maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy .at december 31 , 2013 , the company held long-term credit ratings of bbb ( stable outlook ) and baa3 ( stable outlook ) by s&p and moody 2019s , respectively .contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2013 , were as follows: .
[['in millions', '2014', '2015', '2016', '2017', '2018', 'thereafter'], ['maturities of long-term debt ( a )', '$ 661', '$ 498', '$ 571', '$ 285', '$ 1837', '$ 5636'], ['debt obligations with right of offset ( b )', '2014', '2014', '5185', '2014', '2014', '2014'], ['lease obligations', '171', '133', '97', '74', '59', '162'], ['purchase obligations ( c )', '3170', '770', '642', '529', '453', '2404'], ['total ( d )', '$ 4002', '$ 1401', '$ 6495', '$ 888', '$ 2349', '$ 8202']]
( a ) total debt includes scheduled principal payments only .( b ) represents debt obligations borrowed from non-consolidated variable interest entities for which international paper has , and intends to effect , a legal right to offset these obligations with investments held in the entities .accordingly , in its consolidated balance sheet at december 31 , 2013 , international paper has offset approximately $ 5.2 billion of interests in the entities against this $ 5.2 billion of debt obligations held by the entities ( see note 12 variable interest entities and preferred securities of subsidiaries on pages 72 through 75 in item 8 .financial statements and supplementary data ) .( c ) includes $ 3.3 billion relating to fiber supply agreements entered into at the time of the 2006 transformation plan forestland sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business .( d ) not included in the above table due to the uncertainty as to the amount and timing of the payment are unrecognized tax benefits of approximately $ 146 million .we consider the undistributed earnings of our foreign subsidiaries as of december 31 , 2013 , to be indefinitely reinvested and , accordingly , no u.s .income taxes have been provided thereon .as of december 31 , 2013 , the amount of cash associated with indefinitely reinvested foreign earnings was approximately $ 900 million .we do not anticipate the need to repatriate funds to the united states to satisfy domestic liquidity needs arising in the ordinary course of business , including liquidity needs associated with our domestic debt service requirements .pension obligations and funding at december 31 , 2013 , the projected benefit obligation for the company 2019s u.s .defined benefit plans determined under u.s .gaap was approximately $ 2.2 billion higher than the fair value of plan assets .approximately $ 1.8 billion of this amount relates to plans that are subject to minimum funding requirements .under current irs funding rules , the calculation of minimum funding requirements differs from the calculation of the present value of plan benefits ( the projected benefit obligation ) for accounting purposes .in december 2008 , the worker , retiree and employer recovery act of 2008 ( wera ) was passed by the u.s .congress which provided for pension funding relief and technical corrections .funding .
|
in 2014 what percentage of contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2013 was attributable to maturities of long-term debt?
|
17%
|
{
"answer": "17%",
"decimal": 0.17,
"type": "percentage"
}
| |
edwards lifesciences corporation notes to consolidated financial statements ( continued ) 12 .employee benefit plans ( continued ) equity and debt securities are valued at fair value based on quoted market prices reported on the active markets on which the individual securities are traded .the insurance contracts are valued at the cash surrender value of the contracts , which is deemed to approximate its fair value .the following benefit payments , which reflect expected future service , as appropriate , at december 31 , 2016 , are expected to be paid ( in millions ) : .
[['2017', '$ 4.5'], ['2018', '4.0'], ['2019', '4.0'], ['2020', '4.6'], ['2021', '4.5'], ['2021-2025', '44.6']]
as of december 31 , 2016 , expected employer contributions for 2017 are $ 6.1 million .defined contribution plans the company 2019s employees in the united states and puerto rico are eligible to participate in a qualified defined contribution plan .in the united states , participants may contribute up to 25% ( 25 % ) of their eligible compensation ( subject to tax code limitation ) to the plan .edwards lifesciences matches the first 3% ( 3 % ) of the participant 2019s annual eligible compensation contributed to the plan on a dollar-for-dollar basis .edwards lifesciences matches the next 2% ( 2 % ) of the participant 2019s annual eligible compensation to the plan on a 50% ( 50 % ) basis .in puerto rico , participants may contribute up to 25% ( 25 % ) of their annual compensation ( subject to tax code limitation ) to the plan .edwards lifesciences matches the first 4% ( 4 % ) of participant 2019s annual eligible compensation contributed to the plan on a 50% ( 50 % ) basis .the company also provides a 2% ( 2 % ) profit sharing contribution calculated on eligible earnings for each employee .matching contributions relating to edwards lifesciences employees were $ 17.3 million , $ 15.3 million , and $ 12.8 million in 2016 , 2015 , and 2014 , respectively .the company also has nonqualified deferred compensation plans for a select group of employees .the plans provide eligible participants the opportunity to defer eligible compensation to future dates specified by the participant with a return based on investment alternatives selected by the participant .the amount accrued under these nonqualified plans was $ 46.7 million and $ 35.5 million at december 31 , 2016 and 2015 , respectively .13 .common stock treasury stock in july 2014 , the board of directors approved a stock repurchase program authorizing the company to purchase up to $ 750.0 million of the company 2019s common stock .in november 2016 , the board of directors approved a new stock repurchase program providing for an additional $ 1.0 billion of repurchases of our common stock .the repurchase programs do not have an expiration date .stock repurchased under these programs may be used to offset obligations under the company 2019s employee stock-based benefit programs and stock-based business acquisitions , and will reduce the total shares outstanding .during 2016 , 2015 , and 2014 , the company repurchased 7.3 million , 2.6 million , and 4.4 million shares , respectively , at an aggregate cost of $ 662.3 million , $ 280.1 million , and $ 300.9 million , respectively , including .
|
during 2016 what was the average price paid for the shares repurchased by the company?
|
90.73
|
{
"answer": "90.73",
"decimal": 90.73,
"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 , 2009 , 2008 , and 2007 ( 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 2009 2008 and 2007 ( in millions of u.s . dollars except for percentages )', 'direct amount', 'ceded to other companies', 'assumed from other companies', 'net amount', 'percentage of amount assumed to net'], ['2009', '$ 15415', '$ 5943', '$ 3768', '$ 13240', '28% ( 28 % )'], ['2008', '$ 16087', '$ 6144', '$ 3260', '$ 13203', '25% ( 25 % )'], ['2007', '$ 14673', '$ 5834', '$ 3458', '$ 12297', '28% ( 28 % )']]
.
|
in 2009 what was the ratio of the direct amount to the amount ceded to other companies
|
2.6
|
{
"answer": "2.6",
"decimal": 2.6,
"type": "float"
}
| |
2022 secondary market same store communities are generally communities in markets with populations of more than 1 million but less than 1% ( 1 % ) of the total public multifamily reit units or markets with populations of less than 1 million that we have owned and have been stabilized for at least a full 12 months .2022 non-same store communities and other includes recent acquisitions , communities in development or lease-up , communities that have been identified for disposition , and communities that have undergone a significant casualty loss .also included in non-same store communities are non-multifamily activities .on the first day of each calendar year , we determine the composition of our same store operating segments for that year as well as adjust the previous year , which allows us to evaluate full period-over-period operating comparisons .an apartment community in development or lease-up is added to the same store portfolio on the first day of the calendar year after it has been owned and stabilized for at least a full 12 months .communities are considered stabilized after achieving 90% ( 90 % ) occupancy for 90 days .communities that have been identified for disposition are excluded from the same store portfolio .all properties acquired from post properties in the merger remained in the non-same store and other operating segment during 2017 , as the properties were recent acquisitions and had not been owned and stabilized for at least 12 months as of january 1 , 2017 .for additional information regarding our operating segments , see note 14 to the consolidated financial statements included elsewhere in this annual report on form 10-k .acquisitions one of our growth strategies is to acquire apartment communities that are located in various large or secondary markets primarily throughout the southeast and southwest regions of the united states .acquisitions , along with dispositions , help us achieve and maintain our desired product mix , geographic diversification and asset allocation .portfolio growth allows for maximizing the efficiency of the existing management and overhead structure .we have extensive experience in the acquisition of multifamily communities .we will continue to evaluate opportunities that arise , and we will utilize this strategy to increase our number of apartment communities in strong and growing markets .we acquired the following apartment communities during the year ended december 31 , 2017: .
[['community', 'market', 'units', 'closing date'], ['charlotte at midtown', 'nashville tn', '279', 'march 16 2017'], ['acklen west end', 'nashville tn', '320', 'december 28 2017']]
dispositions we sell apartment communities and other assets that no longer meet our long-term strategy or when market conditions are favorable , and we redeploy the proceeds from those sales to acquire , develop and redevelop additional apartment communities and rebalance our portfolio across or within geographic regions .dispositions also allow us to realize a portion of the value created through our investments and provide additional liquidity .we are then able to redeploy the net proceeds from our dispositions in lieu of raising additional capital .in deciding to sell an apartment community , we consider current market conditions and generally solicit competing bids from unrelated parties for these individual assets , considering the sales price and other key terms of each proposal .we also consider portfolio dispositions when such a structure is useful to maximize proceeds and efficiency of execution .during the year ended december 31 , 2017 , we disposed of five multifamily properties totaling 1760 units and four land parcels totaling approximately 23 acres .development as another part of our growth strategy , we invest in a limited number of development projects .development activities may be conducted through wholly-owned affiliated companies or through joint ventures with unaffiliated parties .fixed price construction contracts are signed with unrelated parties to minimize construction risk .we typically manage the leasing portion of the project as units become available for lease .we may also engage in limited expansion development opportunities on existing communities in which we typically serve as the developer .while we seek opportunistic new development investments offering attractive long-term investment returns , we intend to maintain a total development commitment that we consider modest in relation to our total balance sheet and investment portfolio .during the year ended december 31 , 2017 , we incurred $ 170.1 million in development costs and completed 7 development projects. .
|
what is the difference between the number of units in charlotte at midtown and acklen west end?
|
41
|
{
"answer": "41",
"decimal": 41,
"type": "float"
}
|
it is the difference between the number of units at each location .
|
the company consolidates the assets and liabilities of several entities from which it leases office buildings and corporate aircraft .these entities have been determined to be variable interest entities and the company has been determined to be the primary beneficiary of these entities .due to the consolidation of these entities , the company reflects in its balance sheet : property , plant and equipment of $ 156 million and $ 183 million , other assets of $ 14 million and $ 12 million , long-term debt of $ 150 million ( including current maturities of $ 6 million ) and $ 192 million ( including current maturities of $ 8 million ) , minority interest liabilities of $ 22 million and $ 6 million , and other accrued liabilities of $ 1 million and $ 0 , as of may 27 , 2007 and may 28 , 2006 , respectively .the liabilities recognized as a result of consolidating these entities do not represent additional claims on the general assets of the company .the creditors of these entities have claims only on the assets of the specific variable interest entities .obligations and commitments as part of its ongoing operations , the company enters into arrangements that obligate the company to make future payments under contracts such as debt agreements , lease agreements , and unconditional purchase obligations ( i.e. , obligations to transfer funds in the future for fixed or minimum quantities of goods or services at fixed or minimum prices , such as 201ctake-or-pay 201d contracts ) .the unconditional purchase obligation arrangements are entered into by the company in its normal course of business in order to ensure adequate levels of sourced product are available to the company .capital lease and debt obligations , which totaled $ 3.6 billion at may 27 , 2007 , are currently recognized as liabilities in the company 2019s consolidated balance sheet .operating lease obligations and unconditional purchase obligations , which totaled $ 645 million at may 27 , 2007 , are not recognized as liabilities in the company 2019s consolidated balance sheet , in accordance with generally accepted accounting principles .a summary of the company 2019s contractual obligations at the end of fiscal 2007 is as follows ( including obligations of discontinued operations ) : .
[['( $ in millions ) contractual obligations', '( $ in millions ) total', '( $ in millions ) less than 1 year', '( $ in millions ) 1-3 years', '( $ in millions ) 3-5 years', 'after 5 years'], ['long-term debt', '$ 3575.4', '$ 18.2', '$ 48.5', '$ 1226.9', '$ 2281.8'], ['lease obligations', '456.6', '79.4', '137.3', '92.4', '147.5'], ['purchase obligations', '188.4', '57.5', '69.0', '59.0', '2.9'], ['total', '$ 4220.4', '$ 155.1', '$ 254.8', '$ 1378.3', '$ 2432.2']]
the company 2019s total obligations of approximately $ 4.2 billion reflect a decrease of approximately $ 237 million from the company 2019s 2006 fiscal year-end .the decrease was due primarily to a reduction of lease obligations in connection with the sale of the packaged meats operations .the company is also contractually obligated to pay interest on its long-term debt obligations .the weighted average interest rate of the long-term debt obligations outstanding as of may 27 , 2007 was approximately 7.2%. .
|
what percentage of the total contractual obligations at the end of fiscal 2007 are comprised of lease obligations?
|
11%
|
{
"answer": "11%",
"decimal": 0.11,
"type": "percentage"
}
| |
note 4 : property , plant and equipment the following table summarizes the major classes of property , plant and equipment by category as of december 31 : 2015 2014 range of remaining useful weighted average useful life utility plant : land and other non-depreciable assets ..........$ 141 $ 137 sources of supply ..........................705 681 12 to 127 years 51 years treatment and pumping facilities ..............3070 2969 3 to 101 years 39 years transmission and distribution facilities .........8516 7963 9 to 156 years 83 years services , meters and fire hydrants .............3250 3062 8 to 93 years 35 years general structures and equipment .............1227 1096 1 to 154 years 39 years waste treatment , pumping and disposal .........313 281 2 to 115 years 46 years waste collection ...........................473 399 5 to 109 years 56 years construction work in progress ................404 303 total utility plant ..............................18099 16891 nonutility property .............................405 378 3 to 50 years 6 years total property , plant and equipment ...............$ 18504 $ 17269 property , plant and equipment depreciation expense amounted to $ 405 , $ 392 , and $ 374 for the years ended december 31 , 2015 , 2014 and 2013 , respectively and was included in depreciation and amortization expense in the accompanying consolidated statements of operations .the provision for depreciation expressed as a percentage of the aggregate average depreciable asset balances was 3.13% ( 3.13 % ) for the year ended december 31 , 2015 and 3.20% ( 3.20 % ) for years december 31 , 2014 and 2013 .note 5 : allowance for uncollectible accounts the following table summarizes the changes in the company 2019s allowances for uncollectible accounts for the years ended december 31: .
[['', '2015', '2014', '2013'], ['balance as of january 1', '$ -35 ( 35 )', '$ -34 ( 34 )', '$ -27 ( 27 )'], ['amounts charged to expense', '-32 ( 32 )', '-37 ( 37 )', '-27 ( 27 )'], ['amounts written off', '38', '43', '24'], ['recoveries of amounts written off', '-10 ( 10 )', '-7 ( 7 )', '-4 ( 4 )'], ['balance as of december 31', '$ -39 ( 39 )', '$ -35 ( 35 )', '$ -34 ( 34 )']]
.
|
in 2013 as part of the company's noncollectable amounts what was the ratio of that amounts written off to the amount recovered
|
6.14
|
{
"answer": "6.14",
"decimal": 6.14,
"type": "float"
}
|
for every amount written off of 6.14 , 1 was recovered .
|
interest rate derivatives .in connection with the issuance of floating rate debt in august and october 2008 , the company entered into three interest rate swap contracts , designated as cash flow hedges , for purposes of hedging against a change in interest payments due to fluctuations in the underlying benchmark rate .in december 2010 , the company approved a plan to refinance the term loan in january 2011 resulting in an $ 8.6 million loss on derivative instruments as a result of ineffectiveness on the associated interest rate swap contract .to mitigate counterparty credit risk , the interest rate swap contracts required collateralization by both counterparties for the swaps 2019 aggregate net fair value during their respective terms .collateral was maintained in the form of cash and adjusted on a daily basis .in february 2010 , the company entered into a forward starting interest rate swap contract , designated as a cash flow hedge , for purposes of hedging against a change in interest payments due to fluctuations in the underlying benchmark rate between the date of the swap and the forecasted issuance of fixed rate debt in march 2010 .the swap was highly effective .foreign currency derivatives .in connection with its purchase of bm&fbovespa stock in february 2008 , cme group purchased a put option to hedge against changes in the fair value of bm&fbovespa stock resulting from foreign currency rate fluctuations between the u.s .dollar and the brazilian real ( brl ) beyond the option 2019s exercise price .lehman brothers special financing inc .( lbsf ) was the sole counterparty to this option contract .on september 15 , 2008 , lehman brothers holdings inc .( lehman ) filed for protection under chapter 11 of the united states bankruptcy code .the bankruptcy filing of lehman was an event of default that gave the company the right to immediately terminate the put option agreement with lbsf .in march 2010 , the company recognized a $ 6.0 million gain on derivative instruments as a result of a settlement from the lehman bankruptcy proceedings .21 .capital stock shares outstanding .the following table presents information regarding capital stock: .
[['( in thousands )', 'december 31 , 2010', 'december 31 , 2009'], ['shares authorized', '1000000', '1000000'], ['class a common stock', '66847', '66511'], ['class b-1 common stock', '0.6', '0.6'], ['class b-2 common stock', '0.8', '0.8'], ['class b-3 common stock', '1.3', '1.3'], ['class b-4 common stock', '0.4', '0.4']]
cme group has no shares of preferred stock issued and outstanding .associated trading rights .members of cme , cbot , nymex and comex own or lease trading rights which entitle them to access the trading floors , discounts on trading fees and the right to vote on certain exchange matters as provided for by the rules of the particular exchange and cme group 2019s or the subsidiaries 2019 organizational documents .each class of cme group class b common stock is associated with a membership in a specific division for trading at cme .a cme trading right is a separate asset that is not part of or evidenced by the associated share of class b common stock of cme group .the class b common stock of cme group is intended only to ensure that the class b shareholders of cme group retain rights with respect to representation on the board of directors and approval rights with respect to the core rights described below .trading rights at cbot are evidenced by class b memberships in cbot , at nymex by class a memberships in nymex and at comex by comex division memberships in comex .members of the cbot , nymex and comex exchanges do not have any rights to elect members of the board of directors and are not entitled to receive dividends or other distributions on their memberships .the company is , however , required to have at least 10 cbot directors ( as defined by its bylaws ) until its 2012 annual meeting. .
|
for 2010 , what were the total number of shares of common stock outstanding , in thousands?
|
66849.1
|
{
"answer": "66849.1",
"decimal": 66849.1,
"type": "float"
}
| |
the intrinsic value of restricted stock awards vested during the years ended december 31 , 2016 , 2015 and 2014 was $ 25 million , $ 31 million and $ 17 million , respectively .restricted stock awards made to employees have vesting periods ranging from 1 year with variable vesting dates to 10 years .following is a summary of the future vesting of our outstanding restricted stock awards : vesting of restricted shares .
[['year', 'vesting of restricted shares'], ['2017', '1476832'], ['2018', '2352443'], ['2019', '4358728'], ['2020', '539790'], ['2021', '199850'], ['thereafter', '110494'], ['total outstanding', '9038137']]
the related compensation costs less estimated forfeitures is generally recognized ratably over the vesting period of the restricted stock awards .upon vesting , the grants will be paid in our class p common shares .during 2016 , 2015 and 2014 , we recorded $ 66 million , $ 52 million and $ 51 million , respectively , in expense related to restricted stock awards and capitalized approximately $ 9 million , $ 15 million and $ 6 million , respectively .at december 31 , 2016 and 2015 , unrecognized restricted stock awards compensation costs , less estimated forfeitures , was approximately $ 133 million and $ 154 million , respectively .pension and other postretirement benefit plans savings plan we maintain a defined contribution plan covering eligible u.s .employees .we contribute 5% ( 5 % ) of eligible compensation for most of the plan participants .certain plan participants 2019 contributions and company contributions are based on collective bargaining agreements .the total expense for our savings plan was approximately $ 48 million , $ 46 million , and $ 42 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .pension plans our u.s .pension plan is a defined benefit plan that covers substantially all of our u.s .employees and provides benefits under a cash balance formula .a participant in the cash balance plan accrues benefits through contribution credits based on a combination of age and years of service , times eligible compensation .interest is also credited to the participant 2019s plan account .a participant becomes fully vested in the plan after three years , and may take a lump sum distribution upon termination of employment or retirement .certain collectively bargained and grandfathered employees continue to accrue benefits through career pay or final pay formulas .two of our subsidiaries , kinder morgan canada inc .and trans mountain pipeline inc .( as general partner of trans mountain pipeline l.p. ) , are sponsors of pension plans for eligible canadian and trans mountain pipeline employees .the plans include registered defined benefit pension plans , supplemental unfunded arrangements ( which provide pension benefits in excess of statutory limits ) and defined contributory plans .benefits under the defined benefit components accrue through career pay or final pay formulas .the net periodic benefit costs , contributions and liability amounts associated with our canadian plans are not material to our consolidated income statements or balance sheets ; however , we began to include the activity and balances associated with our canadian plans ( including our canadian opeb plans discussed below ) in the following disclosures on a prospective basis beginning in 2016 .the associated net periodic benefit costs for these combined canadian plans of $ 12 million and $ 10 million for the years ended december 31 , 2015 and 2014 , respectively , were reported separately in prior years .other postretirement benefit plans we and certain of our u.s .subsidiaries provide other postretirement benefits ( opeb ) , including medical benefits for closed groups of retired employees and certain grandfathered employees and their dependents , and limited postretirement life insurance benefits for retired employees .our canadian subsidiaries also provide opeb benefits to current and future retirees and their dependents .medical benefits under these opeb plans may be subject to deductibles , co-payment provisions , dollar .
|
what percentage of restricted shares vest in 2018?
|
26%
|
{
"answer": "26%",
"decimal": 0.26,
"type": "percentage"
}
| |
stock performance graph the following graph compares our cumulative shareholder returns with the standard & poor 2019s information technology index and the standard & poor 2019s 500 index for the year ended december 31 , 2017 , the 2016 fiscal transition period , and the years ended may 31 , 2016 , 2015 , 2014 and 2013 .the line graph assumes the investment of $ 100 in our common stock , the standard & poor 2019s 500 index and the standard & poor 2019s information technology index on may 31 , 2012 and assumes reinvestment of all dividends .5/12 5/165/155/145/13 global payments inc .s&p 500 s&p information technology 12/16 12/17 comparison of 5 year cumulative total return* among global payments inc. , the s&p 500 index and the s&p information technology index * $ 100 invested on may 31 , 2012 in stock or index , including reinvestment of dividends .copyright a9 2018 standard & poor 2019s , a division of s&p global .all rights reserved .global payments 500 index information technology .
[['', 'globalpayments', 's&p500 index', 's&pinformationtechnology index'], ['may 31 2012', '$ 100.00', '$ 100.00', '$ 100.00'], ['may 31 2013', '113.10', '127.28', '115.12'], ['may 31 2014', '161.90', '153.30', '142.63'], ['may 31 2015', '246.72', '171.40', '169.46'], ['may 31 2016', '367.50', '174.34', '174.75'], ['december 31 2016', '328.42', '188.47', '194.08'], ['december 31 2017', '474.52', '229.61', '269.45']]
30 2013 global payments inc .| 2017 form 10-k annual report .
|
what is the total return if 1000000 is invested in s&p500 in may 31 , 2012 and liquidated in may 31 , 2015?
|
714000
|
{
"answer": "714000",
"decimal": 714000,
"type": "float"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) for the years ended december 31 , 2007 and 2006 , the company increased net deferred tax assets by $ 1.5 million and $ 7.2 million , respectively with a corresponding reduction of goodwill associated with the utilization of net operating and capital losses acquired in connection with the spectrasite , inc .merger .these deferred tax assets were assigned a full valuation allowance as part of the final spectrasite purchase price allocation in june 2006 , as evidence available at the time did not support that losses were more likely than not to be realized .the valuation allowance decreased from $ 308.2 million as of december 31 , 2006 to $ 88.2 million as of december 31 , 2007 .the decrease was primarily due to a $ 149.6 million reclassification to the fin 48 opening balance ( related to federal and state net operating losses acquired in connection with the spectrasite , inc .merger ) and $ 45.2 million of allowance reductions during the year ended december 31 , 2007 related to state net operating losses , capital loss expirations of $ 6.5 million and other items .the company 2019s deferred tax assets as of december 31 , 2007 and 2006 in the table above do not include $ 74.9 million and $ 31.0 million , respectively , of excess tax benefits from the exercises of employee stock options that are a component of net operating losses due to the adoption of sfas no .123r .total stockholders 2019 equity will be increased by $ 74.9 million if and when any such excess tax benefits are ultimately realized .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 , 2007 , the company had net federal and state operating loss carryforwards available to reduce future federal and state taxable income of approximately $ 1.6 billion and $ 2.1 billion , respectively .if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : .
[['years ended december 31,', 'federal', 'state'], ['2008 to 2012', '', '$ 294358'], ['2013 to 2017', '', '561608'], ['2018 to 2022', '$ 466747', '803201'], ['2023 to 2027', '1134060', '451874'], ['total', '$ 1600807', '$ 2111041']]
as described in note 1 , the company adopted the provisions of fin 48 on january 1 , 2007 .as of january 1 , 2007 , the total amount of unrecognized tax benefits was $ 183.9 million of which $ 34.3 million would affect the effective tax rate , if recognized .as of december 31 , 2007 , the total amount of unrecognized tax benefits was $ 59.2 million , $ 23.0 million of which would affect the effective tax rate , if recognized .the company expects the unrecognized tax benefits to change over the next 12 months if certain tax matters ultimately settle with the applicable taxing jurisdiction during this timeframe .however , based on the status of these items and the amount of uncertainty associated with the outcome and timing of audit settlements , the .
|
what was the change in the total amount of unrecognized tax benefits in 2007in millions?
|
124.7
|
{
"answer": "124.7",
"decimal": 124.7,
"type": "float"
}
| |
of sales , competitive supply gross margin declined in south america , europe/africa and the caribbean and remained relatively flat in north america and asia .large utilities gross margin increased $ 201 million , or 37% ( 37 % ) , to $ 739 million in 2001 from $ 538 million in 2000 .excluding businesses acquired or that commenced commercial operations during 2001 and 2000 , large utilities gross margin increased 10% ( 10 % ) to $ 396 million in 2001 .large utilities gross margin as a percentage of revenues increased to 30% ( 30 % ) in 2001 from 25% ( 25 % ) in 2000 .in the caribbean ( which includes venezuela ) , large utility gross margin increased $ 166 million and was due to a full year of contribution from edc which was acquired in june 2000 .also , in north america , the gross margin contributions from both ipalco and cilcorp increased .growth distribution gross margin increased $ 165 million , or 126% ( 126 % ) to $ 296 million in 2001 from $ 131 million in 2000 .excluding businesses acquired during 2001 and 2000 , growth distribution gross margin increased 93% ( 93 % ) to $ 268 million in 2001 .growth distribution gross margin as a percentage of revenue increased to 18% ( 18 % ) in 2001 from 10% ( 10 % ) in 2000 .growth distribution business gross margin , as well as gross margin as a percentage of sales , increased in south america and the caribbean , but decreased in europe/africa and asia .in south america , growth distribution margin increased $ 157 million and was 38% ( 38 % ) of revenues .the increase is due primarily to sul 2019s sales of excess energy into the southeast market where rationing was taking place .in the caribbean , growth distribution margin increased $ 39 million and was 5% ( 5 % ) of revenues .the increase is due mainly to lower losses at ede este and an increase in contribution from caess .in europe/africa , growth distribution margin decreased $ 10 million and was negative due to losses at sonel .in asia , growth distribution margin decreased $ 18 million and was negative due primarily to an increase in losses at telasi .the breakdown of aes 2019s gross margin for the years ended december 31 , 2001 and 2000 , based on the geographic region in which they were earned , is set forth below. .
[['north america', '2001 $ 912 million', '% ( % ) of revenue 25% ( 25 % )', '2000 $ 844 million', '% ( % ) of revenue 25% ( 25 % )', '% ( % ) change 8% ( 8 % )'], ['south america', '$ 522 million', '30% ( 30 % )', '$ 416 million', '36% ( 36 % )', '25% ( 25 % )'], ['caribbean*', '$ 457 million', '25% ( 25 % )', '$ 226 million', '21% ( 21 % )', '102% ( 102 % )'], ['europe/africa', '$ 310 million', '22% ( 22 % )', '$ 371 million', '29% ( 29 % )', '( 16% ( 16 % ) )'], ['asia', '$ 101 million', '15% ( 15 % )', '$ 138 million', '22% ( 22 % )', '( 27% ( 27 % ) )']]
* includes venezuela and colombia .selling , general and administrative expenses selling , general and administrative expenses increased $ 38 million , or 46% ( 46 % ) , to $ 120 million in 2001 from $ 82 million in 2000 .selling , general and administrative expenses as a percentage of revenues remained constant at 1% ( 1 % ) in 2001 and 2000 .the overall increase in selling , general and administrative expenses is due to increased development activities .interest expense , net net interest expense increased $ 327 million , or 29% ( 29 % ) , to $ 1.5 billion in 2001 from $ 1.1 billion in 2000 .net interest expense as a percentage of revenues increased to 16% ( 16 % ) in 2001 from 15% ( 15 % ) in 2000 .net interest expense increased overall primarily due to interest expense at new businesses , additional corporate interest expense arising from senior debt issued during 2001 to finance new investments and mark-to-market losses on interest rate related derivative instruments. .
|
2001 south american revenues were what in millions?
|
1740
|
{
"answer": "1740",
"decimal": 1740,
"type": "float"
}
| |
comparison of five-year cumulative total return the following graph compares the cumulative total return on citigroup 2019s common stock with the s&p 500 index and the s&p financial index over the five-year period extending through december 31 , 2009 .the graph assumes that $ 100 was invested on december 31 , 2004 in citigroup 2019s common stock , the s&p 500 index and the s&p financial index and that all dividends were reinvested .citigroup s&p 500 index s&p financial index 2005 2006 2007 2008 2009 comparison of five-year cumulative total return for the years ended .
[['december 31', 'citigroup', 's&p 500 index', 's&p financial index'], ['2005', '104.38', '104.83', '106.30'], ['2006', '124.02', '121.20', '126.41'], ['2007', '70.36', '127.85', '103.47'], ['2008', '18.71', '81.12', '47.36'], ['2009', '9.26', '102.15', '55.27']]
.
|
what was the percent cumulative total return on citigroup's common stock for five year period ended 2009?
|
-90.74%
|
{
"answer": "-90.74%",
"decimal": -0.9074,
"type": "percentage"
}
| |
through current cash balances and cash from oper- ations .additionally , the company has existing credit facilities totaling $ 2.5 billion .the company was in compliance with all its debt covenants at december 31 , 2012 .the company 2019s financial covenants require the maintenance of a minimum net worth of $ 9 billion and a total debt-to- capital ratio of less than 60% ( 60 % ) .net worth is defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock plus any cumulative goodwill impairment charges .the calcu- lation also excludes accumulated other compre- hensive income/loss and nonrecourse financial liabilities of special purpose entities .the total debt- to-capital ratio is defined as total debt divided by the sum of total debt plus net worth .at december 31 , 2012 , international paper 2019s net worth was $ 13.9 bil- lion , and the total-debt-to-capital ratio was 42% ( 42 % ) .the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows .funding decisions will be guided by our capi- tal structure planning objectives .the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense .the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors .maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy .at december 31 , 2012 , the company held long-term credit ratings of bbb ( stable outlook ) and baa3 ( stable outlook ) by s&p and moody 2019s , respectively .contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2012 , were as follows: .
[['in millions', '2013', '2014', '2015', '2016', '2017', 'thereafter'], ['maturities of long-term debt ( a )', '$ 444', '$ 708', '$ 479', '$ 571', '$ 216', '$ 7722'], ['debt obligations with right of offset ( b )', '2014', '2014', '2014', '5173', '2014', '2014'], ['lease obligations', '198', '136', '106', '70', '50', '141'], ['purchase obligations ( c )', '3213', '828', '722', '620', '808', '2654'], ['total ( d )', '$ 3855', '$ 1672', '$ 1307', '$ 6434', '$ 1074', '$ 10517']]
( a ) total debt includes scheduled principal payments only .( b ) represents debt obligations borrowed from non-consolidated variable interest entities for which international paper has , and intends to effect , a legal right to offset these obligations with investments held in the entities .accordingly , in its con- solidated balance sheet at december 31 , 2012 , international paper has offset approximately $ 5.2 billion of interests in the entities against this $ 5.2 billion of debt obligations held by the entities ( see note 11 variable interest entities and preferred securities of subsidiaries on pages 69 through 72 in item 8 .financial statements and supplementary data ) .( c ) includes $ 3.6 billion relating to fiber supply agreements entered into at the time of the 2006 transformation plan forest- land sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business .( d ) not included in the above table due to the uncertainty as to the amount and timing of the payment are unrecognized tax bene- fits of approximately $ 620 million .we consider the undistributed earnings of our for- eign subsidiaries as of december 31 , 2012 , to be indefinitely reinvested and , accordingly , no u.s .income taxes have been provided thereon .as of december 31 , 2012 , the amount of cash associated with indefinitely reinvested foreign earnings was approximately $ 840 million .we do not anticipate the need to repatriate funds to the united states to sat- isfy domestic liquidity needs arising in the ordinary course of business , including liquidity needs asso- ciated with our domestic debt service requirements .pension obligations and funding at december 31 , 2012 , the projected benefit obliga- tion for the company 2019s u.s .defined benefit plans determined under u.s .gaap was approximately $ 4.1 billion higher than the fair value of plan assets .approximately $ 3.7 billion of this amount relates to plans that are subject to minimum funding require- ments .under current irs funding rules , the calcu- lation of minimum funding requirements differs from the calculation of the present value of plan benefits ( the projected benefit obligation ) for accounting purposes .in december 2008 , the worker , retiree and employer recovery act of 2008 ( wera ) was passed by the u.s .congress which provided for pension funding relief and technical corrections .funding contributions depend on the funding method selected by the company , and the timing of its implementation , as well as on actual demo- graphic data and the targeted funding level .the company continually reassesses the amount and timing of any discretionary contributions and elected to make voluntary contributions totaling $ 44 million and $ 300 million for the years ended december 31 , 2012 and 2011 , respectively .at this time , we expect that required contributions to its plans in 2013 will be approximately $ 31 million , although the company may elect to make future voluntary contributions .the timing and amount of future contributions , which could be material , will depend on a number of factors , including the actual earnings and changes in values of plan assets and changes in interest rates .ilim holding s.a .shareholder 2019s agreement in october 2007 , in connection with the for- mation of the ilim holding s.a .joint venture , international paper entered into a share- holder 2019s agreement that includes provisions relating to the reconciliation of disputes among the partners .this agreement provides that at .
|
what percentage of contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2012 is short term for the year 2014?
|
58%
|
{
"answer": "58%",
"decimal": 0.58,
"type": "percentage"
}
| |
table of contents ( 4 ) the decline in cash flows was driven by the timing of inventory purchases at the end of 2014 versus 2013 .in order to manage our working capital and operating cash needs , we monitor our cash conversion cycle , defined as days of sales outstanding in accounts receivable plus days of supply in inventory minus days of purchases outstanding in accounts payable , based on a rolling three-month average .components of our cash conversion cycle are as follows: .
[['( in days )', 'december 31 , 2015', 'december 31 , 2014', 'december 31 , 2013'], ['days of sales outstanding ( dso ) ( 1 )', '48', '42', '44'], ['days of supply in inventory ( dio ) ( 2 )', '13', '13', '14'], ['days of purchases outstanding ( dpo ) ( 3 )', '-40 ( 40 )', '-34 ( 34 )', '-35 ( 35 )'], ['cash conversion cycle', '21', '21', '23']]
( 1 ) represents the rolling three-month average of the balance of trade accounts receivable , net at the end of the period divided by average daily net sales for the same three-month period .also incorporates components of other miscellaneous receivables .( 2 ) represents the rolling three-month average of the balance of merchandise inventory at the end of the period divided by average daily cost of goods sold for the same three-month period .( 3 ) represents the rolling three-month average of the combined balance of accounts payable-trade , excluding cash overdrafts , and accounts payable-inventory financing at the end of the period divided by average daily cost of goods sold for the same three-month period .the cash conversion cycle remained at 21 days at december 31 , 2015 and december 31 , 2014 .the increase in dso was primarily driven by a higher accounts receivable balance at december 31 , 2015 driven by higher public segment sales where customers generally take longer to pay than customers in our corporate segment , slower government payments in certain states due to budget issues and an increase in net sales and related accounts receivable for third-party services such as software assurance and warranties .these services have an unfavorable impact on dso as the receivable is recognized on the balance sheet on a gross basis while the corresponding sales amount in the statement of operations is recorded on a net basis .these services have a favorable impact on dpo as the payable is recognized on the balance sheet without a corresponding cost of sale in the statement of operations because the cost paid to the vendor or third-party service provider is recorded as a reduction to net sales .in addition to the impact of these services on dpo , dpo also increased due to the mix of payables with certain vendors that have longer payment terms .the cash conversion cycle decreased to 21 days at december 31 , 2014 compared to 23 days at december 31 , 2013 , primarily driven by improvement in dso .the decline in dso was primarily driven by improved collections and early payments from certain customers .additionally , the timing of inventory receipts at the end of 2014 had a favorable impact on dio and an unfavorable impact on dpo .investing activities net cash used in investing activities increased $ 189.6 million in 2015 compared to 2014 .the increase was primarily due to the completion of the acquisition of kelway by purchasing the remaining 65% ( 65 % ) of its outstanding common stock on august 1 , 2015 .additionally , capital expenditures increased $ 35.1 million to $ 90.1 million from $ 55.0 million for 2015 and 2014 , respectively , primarily for our new office location and an increase in spending related to improvements to our information technology systems .net cash used in investing activities increased $ 117.7 million in 2014 compared to 2013 .we paid $ 86.8 million in the fourth quarter of 2014 to acquire a 35% ( 35 % ) non-controlling interest in kelway .additionally , capital expenditures increased $ 7.9 million to $ 55.0 million from $ 47.1 million in 2014 and 2013 , respectively , primarily for improvements to our information technology systems during both years .financing activities net cash used in financing activities increased $ 114.5 million in 2015 compared to 2014 .the increase was primarily driven by share repurchases during the year ended december 31 , 2015 which resulted in an increase in cash used for financing activities of $ 241.3 million .for more information on our share repurchase program , see item 5 , 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities . 201d the increase was partially offset by the changes in accounts payable-inventory financing , which resulted in an increase in cash provided for financing activities of $ 20.4 million , and the net impact of our debt transactions which resulted in cash outflows of $ 7.1 million and $ 145.9 million during the years .
|
what was the approximate value of kelway in the fourth quarter of 2014 , in millions?
|
249.29
|
{
"answer": "249.29",
"decimal": 249.29,
"type": "float"
}
| |
interest rate to a variable interest rate based on the three-month libor plus 2.05% ( 2.05 % ) ( 2.34% ( 2.34 % ) as of october 31 , 2009 ) .if libor changes by 100 basis points , our annual interest expense would change by $ 3.8 million .foreign currency exposure as more fully described in note 2i .in the notes to consolidated financial statements contained in item 8 of this annual report on form 10-k , we regularly hedge our non-u.s .dollar-based exposures by entering into forward foreign currency exchange contracts .the terms of these contracts are for periods matching the duration of the underlying exposure and generally range from one month to twelve months .currently , our largest foreign currency exposure is the euro , primarily because our european operations have the highest proportion of our local currency denominated expenses .relative to foreign currency exposures existing at october 31 , 2009 and november 1 , 2008 , a 10% ( 10 % ) unfavorable movement in foreign currency exchange rates over the course of the year would not expose us to significant losses in earnings or cash flows because we hedge a high proportion of our year-end exposures against fluctuations in foreign currency exchange rates .the market risk associated with our derivative instruments results from currency exchange rate or interest rate movements that are expected to offset the market risk of the underlying transactions , assets and liabilities being hedged .the counterparties to the agreements relating to our foreign exchange instruments consist of a number of major international financial institutions with high credit ratings .we do not believe that there is significant risk of nonperformance by these counterparties because we continually monitor the credit ratings of such counterparties .while the contract or notional amounts of derivative financial instruments provide one measure of the volume of these transactions , they do not represent the amount of our exposure to credit risk .the amounts potentially subject to credit risk ( arising from the possible inability of counterparties to meet the terms of their contracts ) are generally limited to the amounts , if any , by which the counterparties 2019 obligations under the contracts exceed our obligations to the counterparties .the following table illustrates the effect that a 10% ( 10 % ) unfavorable or favorable movement in foreign currency exchange rates , relative to the u.s .dollar , would have on the fair value of our forward exchange contracts as of october 31 , 2009 and november 1 , 2008: .
[['', 'october 31 2009', 'november 1 2008'], ['fair value of forward exchange contracts asset ( liability )', '$ 6427', '$ -23158 ( 23158 )'], ['fair value of forward exchange contracts after a 10% ( 10 % ) unfavorable movement in foreign currency exchange rates asset ( liability )', '$ 20132', '$ -9457 ( 9457 )'], ['fair value of forward exchange contracts after a 10% ( 10 % ) favorable movement in foreign currency exchange rates liability', '$ -6781 ( 6781 )', '$ -38294 ( 38294 )']]
fair value of forward exchange contracts after a 10% ( 10 % ) unfavorable movement in foreign currency exchange rates asset ( liability ) .........$ 20132 $ ( 9457 ) fair value of forward exchange contracts after a 10% ( 10 % ) favorable movement in foreign currency exchange rates liability ......................$ ( 6781 ) $ ( 38294 ) the calculation assumes that each exchange rate would change in the same direction relative to the u.s .dollar .in addition to the direct effects of changes in exchange rates , such changes typically affect the volume of sales or the foreign currency sales price as competitors 2019 products become more or less attractive .our sensitivity analysis of the effects of changes in foreign currency exchange rates does not factor in a potential change in sales levels or local currency selling prices. .
|
what is the lobor rate as of october 31 , 2009?
|
29.0%
|
{
"answer": "29.0%",
"decimal": 0.29,
"type": "percentage"
}
| |
the city council 2019s advisors and entergy new orleans .in february 2018 the city council approved the settlement , which deferred cost recovery to the 2018 entergy new orleans rate case , but also stated that an adjustment for 2018-2019 ami costs can be filed in the rate case and that , for all subsequent ami costs , the mechanism to be approved in the 2018 rate case will allow for the timely recovery of such costs .sources of capital entergy new orleans 2019s sources to meet its capital requirements include : 2022 internally generated funds ; 2022 cash on hand ; 2022 debt and preferred membership interest issuances ; and 2022 bank financing under new or existing facilities .entergy new orleans may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest rates are favorable .entergy new orleans 2019s receivables from the money pool were as follows as of december 31 for each of the following years. .
[['2017', '2016', '2015', '2014'], ['( in thousands )', '( in thousands )', '( in thousands )', '( in thousands )'], ['$ 12723', '$ 14215', '$ 15794', '$ 442']]
see note 4 to the financial statements for a description of the money pool .entergy new orleans has a credit facility in the amount of $ 25 million scheduled to expire in november 2018 .the credit facility allows entergy new orleans to issue letters of credit against $ 10 million of the borrowing capacity of the facility .as of december 31 , 2017 , there were no cash borrowings and a $ 0.8 million letter of credit was outstanding under the facility .in addition , entergy new orleans is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations to miso . a0 as of december 31 , 2017 , a $ 1.4 million letter of credit was outstanding under entergy new orleans 2019s letter of credit a0facility .see note 4 to the financial statements for additional discussion of the credit facilities .entergy new orleans obtained authorization from the ferc through october 2019 for short-term borrowings not to exceed an aggregate amount of $ 150 million at any time outstanding and long-term borrowings and securities issuances .see note 4 to the financial statements for further discussion of entergy new orleans 2019s short-term borrowing limits .the long-term securities issuances of entergy new orleans are limited to amounts authorized not only by the ferc , but also by the city council , and the current city council authorization extends through june 2018 .entergy new orleans , llc and subsidiaries management 2019s financial discussion and analysis state and local rate regulation the rates that entergy new orleans charges for electricity and natural gas significantly influence its financial position , results of operations , and liquidity .entergy new orleans is regulated and the rates charged to its customers are determined in regulatory proceedings .a governmental agency , the city council , is primarily responsible for approval of the rates charged to customers .retail rates see 201calgiers asset transfer 201d below for discussion of the algiers asset transfer .as a provision of the settlement agreement approved by the city council in may 2015 providing for the algiers asset transfer , it was agreed that , with limited exceptions , no action may be taken with respect to entergy new orleans 2019s base rates until rates are implemented .
|
how much less than 2016 did entergy receive from the money pool in 2017 ? ( in thousand $ )
|
1492
|
{
"answer": "1492",
"decimal": 1492,
"type": "float"
}
| |
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 is the dividend payout in 2010?
|
14.3%
|
{
"answer": "14.3%",
"decimal": 0.14300000000000002,
"type": "percentage"
}
| |
in 2017 , the company granted 440076 shares of restricted class a common stock and 7568 shares of restricted stock units .restricted common stock and restricted stock units generally have a vesting period of two to four years .the fair value related to these grants was $ 58.7 million , which is recognized as compensation expense on an accelerated basis over the vesting period .dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests .in 2017 , the company also granted 203298 performance shares .the fair value related to these grants was $ 25.3 million , which is recognized as compensation expense on an accelerated and straight-lined basis over the vesting period .the vesting of these shares is contingent on meeting stated performance or market conditions .the following table summarizes restricted stock , restricted stock units , and performance shares activity for 2017 : number of shares weighted average grant date fair value .
[['', 'number of shares', 'weightedaveragegrant datefair value'], ['outstanding at december 31 2016', '1820578', '$ 98'], ['granted', '650942', '129'], ['vested', '-510590 ( 510590 )', '87'], ['cancelled', '-401699 ( 401699 )', '95'], ['outstanding at december 31 2017', '1559231', '116']]
the total fair value of restricted stock , restricted stock units , and performance shares that vested during 2017 , 2016 and 2015 was $ 66.0 million , $ 59.8 million and $ 43.3 million , respectively .under the espp , eligible employees may acquire shares of class a common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration .shares are purchased at the end of each offering period at a price of 90% ( 90 % ) of the closing price of the class a common stock as reported on the nasdaq global select market .compensation expense is recognized on the dates of purchase for the discount from the closing price .in 2017 , 2016 and 2015 , a total of 19936 , 19858 and 19756 shares , respectively , of class a common stock were issued to participating employees .these shares are subject to a six-month holding period .annual expense of $ 0.3 million for the purchase discount was recognized in 2017 , and $ 0.2 million was recognized in both 2016 and 2015 .non-executive directors receive an annual award of class a common stock with a value equal to $ 100000 .non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 60000 , in shares of stock based on the closing price at the date of distribution .as a result , 19736 shares , 26439 shares and 25853 shares of class a common stock were issued to non-executive directors during 2017 , 2016 and 2015 , respectively .these shares are not subject to any vesting restrictions .expense of $ 2.5 million , $ 2.4 million and $ 2.5 million related to these stock-based payments was recognized for the years ended december 31 , 2017 , 2016 and 2015 , respectively. .
|
in millions , how much compensation expense was attributable to directors in the years ended december 31 , 2015 through 2017?
|
7.4
|
{
"answer": "7.4",
"decimal": 7.4,
"type": "float"
}
| |
tax returns for 2001 and beyond are open for examination under statute .currently , unrecognized tax benefits are not expected to change significantly over the next 12 months .19 .stock-based and other management compensation plans in april 2009 , the company approved a global incentive plan which replaces the company 2019s 2004 stock incentive plan .the 2009 global incentive plan ( 201cgip 201d ) enables the compensation committee of the board of directors to award incentive and nonqualified stock options , stock appreciation rights , shares of series a common stock , restricted stock , restricted stock units ( 201crsus 201d ) and incentive bonuses ( which may be paid in cash or stock or a combination thereof ) , any of which may be performance-based , with vesting and other award provisions that provide effective incentive to company employees ( including officers ) , non-management directors and other service providers .under the 2009 gip , the company no longer can grant rsus with the right to participate in dividends or dividend equivalents .the maximum number of shares that may be issued under the 2009 gip is equal to 5350000 shares plus ( a ) any shares of series a common stock that remain available for issuance under the 2004 stock incentive plan ( 201csip 201d ) ( not including any shares of series a common stock that are subject to outstanding awards under the 2004 sip or any shares of series a common stock that were issued pursuant to awards under the 2004 sip ) and ( b ) any awards under the 2004 stock incentive plan that remain outstanding that cease for any reason to be subject to such awards ( other than by reason of exercise or settlement of the award to the extent that such award is exercised for or settled in vested and non-forfeitable shares ) .as of december 31 , 2010 , total shares available for awards and total shares subject to outstanding awards are as follows : shares available for awards shares subject to outstanding awards .
[['', 'shares available for awards', 'shares subject to outstanding awards'], ['2009 global incentive plan', '2322450', '2530454'], ['2004 stock incentive plan', '-', '5923147']]
upon the termination of a participant 2019s employment with the company by reason of death or disability or by the company without cause ( as defined in the respective award agreements ) , an award in amount equal to ( i ) the value of the award granted multiplied by ( ii ) a fraction , ( x ) the numerator of which is the number of full months between grant date and the date of such termination , and ( y ) the denominator of which is the term of the award , such product to be rounded down to the nearest whole number , and reduced by ( iii ) the value of any award that previously vested , shall immediately vest and become payable to the participant .upon the termination of a participant 2019s employment with the company for any other reason , any unvested portion of the award shall be forfeited and cancelled without consideration .there was $ 19 million and $ 0 million of tax benefit realized from stock option exercises and vesting of rsus during the years ended december 31 , 2010 and 2009 , respectively .during the year ended december 31 , 2008 the company reversed $ 8 million of the $ 19 million tax benefit that was realized during the year ended december 31 , 2007 .deferred compensation in april 2007 , certain participants in the company 2019s 2004 deferred compensation plan elected to participate in a revised program , which includes both cash awards and restricted stock units ( see restricted stock units below ) .based on participation in the revised program , the company expensed $ 9 million , $ 10 million and $ 8 million during the years ended december 31 , 2010 , 2009 and 2008 , respectively , related to the revised program and made payments of $ 4 million during the year ended december 31 , 2010 to participants who left the company and $ 28 million to active employees during december 2010 .as of december 31 , 2010 , $ 1 million remains to be paid during 2011 under the revised program .as of december 31 , 2009 , there was no deferred compensation payable remaining associated with the 2004 deferred compensation plan .the company recorded expense related to participants continuing in the 2004 deferred %%transmsg*** transmitting job : d77691 pcn : 132000000 ***%%pcmsg|132 |00011|yes|no|02/09/2011 18:22|0|0|page is valid , no graphics -- color : n| .
|
what portion of the total shares subject to outstanding awards is under the 2009 global incentive plan?
|
70.1%
|
{
"answer": "70.1%",
"decimal": 0.701,
"type": "percentage"
}
|
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