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notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) debt transactions see note 6 for further information regarding the company 2019s acquisition of acxiom ( the 201cacxiom acquisition 201d ) on october 1 , 2018 ( the 201cclosing date 201d ) .senior notes on september 21 , 2018 , in order to fund the acxiom acquisition and related fees and expenses , we issued a total of $ 2000.0 in aggregate principal amount of unsecured senior notes ( in four separate series of $ 500.0 each , together , the 201csenior notes 201d ) .upon issuance , the senior notes were reflected on our consolidated balance sheets net of discount of $ 5.8 and net of the capitalized debt issuance costs , including commissions and offering expenses of $ 16.1 , both of which will be amortized in interest expense through the respective maturity dates of each series of senior notes using the effective interest method .interest is payable semi-annually in arrears on april 1st and october 1st of each year , commencing on april 1 , 2019 .the issuance was comprised of the following four series of notes : senior notes par value discount at issuance net price at issuance issuance cost net proceeds .
[['senior notes', 'par value', 'discount at issuance', 'net price at issuance', 'issuance cost', 'net proceeds'], ['3.50% ( 3.50 % ) senior notes due 2020', '$ 500.0', '$ 1.0', '$ 499.0', '$ 2.9', '$ 496.1'], ['3.75% ( 3.75 % ) senior notes due 2021', '500.0', '0.3', '499.7', '3.2', '496.5'], ['4.65% ( 4.65 % ) senior notes due 2028', '500.0', '1.7', '498.3', '4.4', '493.9'], ['5.40% ( 5.40 % ) senior notes due 2048', '500.0', '2.8', '497.2', '5.6', '491.6'], ['total', '$ 2000.0', '$ 5.8', '$ 1994.2', '$ 16.1', '$ 1978.1']]
consistent with our other debt securities , the newly issued senior notes include covenants that , among other things , limit our liens and the liens of certain of our consolidated subsidiaries , but do not require us to maintain any financial ratios or specified levels of net worth or liquidity .we may redeem each series of the senior notes at any time in whole or from time to time in part in accordance with the provisions of the indenture , including the applicable supplemental indenture , under which such series of senior notes was issued .if the acxiom acquisition had been terminated or had not closed on or prior to june 30 , 2019 , we would have been required to redeem the senior notes due 2020 , 2021 and 2028 at a redemption price equal to 101% ( 101 % ) of the principal amount thereof , plus accrued and unpaid interest .additionally , upon the occurrence of a change of control repurchase event with respect to the senior notes , each holder of the senior notes has the right to require the company to purchase that holder 2019s senior notes at a price equal to 101% ( 101 % ) of the principal amount thereof , plus accrued and unpaid interest , unless the company has exercised its option to redeem all the senior notes .term loan agreement on october 1 , 2018 , in order to fund the acxiom acquisition and related fees and expenses , we borrowed $ 500.0 through debt financing arrangements with third-party lenders under a three-year term loan agreement ( the 201cterm loan agreement 201d ) , $ 100.0 of which we paid down on december 3 , 2018 .consistent with our other debt securities , the term loan agreement includes covenants that , among other things , limit our liens and the liens of certain of our consolidated subsidiaries .in addition , it requires us to maintain the same financial maintenance covenants as discussed below .loans under the term loan bear interest at a variable rate based on , at the company 2019s option , either the base rate or the eurodollar rate ( each as defined in the term loan agreement ) plus an applicable margin that is determined based on our credit ratings .as of december 31 , 2018 , the applicable margin was 0.25% ( 0.25 % ) for base rate loans and 1.25% ( 1.25 % ) for eurodollar rate loans. .
|
what is the average price at issuance?
|
498.55
|
{
"answer": "498.55",
"decimal": 498.55,
"type": "float"
}
| |
entergy corporation and subsidiaries notes to financial statements equitable discretion and not require refunds for the 20-month period from september 13 , 2001 - may 2 , 2003 .because the ruling on refunds relied on findings in the interruptible load proceeding , which is discussed in a separate section below , the ferc concluded that the refund ruling will be held in abeyance pending the outcome of the rehearing requests in that proceeding .on the second issue , the ferc reversed its prior decision and ordered that the prospective bandwidth remedy begin on june 1 , 2005 ( the date of its initial order in the proceeding ) rather than january 1 , 2006 , as it had previously ordered .pursuant to the october 2011 order , entergy was required to calculate the additional bandwidth payments for the period june - december 2005 utilizing the bandwidth formula tariff prescribed by the ferc that was filed in a december 2006 compliance filing and accepted by the ferc in an april 2007 order .as is the case with bandwidth remedy payments , these payments and receipts will ultimately be paid by utility operating company customers to other utility operating company customers .in december 2011 , entergy filed with the ferc its compliance filing that provides the payments and receipts among the utility operating companies pursuant to the ferc 2019s october 2011 order .the filing shows the following payments/receipts among the utility operating companies : payments ( receipts ) ( in millions ) .
[['', 'payments ( receipts ) ( in millions )'], ['entergy arkansas', '$ 156'], ['entergy gulf states louisiana', '( $ 75 )'], ['entergy louisiana', '$ 2014'], ['entergy mississippi', '( $ 33 )'], ['entergy new orleans', '( $ 5 )'], ['entergy texas', '( $ 43 )']]
entergy arkansas made its payment in january 2012 .in february 2012 , entergy arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $ 156 million payment be collected from customers over the 22-month period from march 2012 through december 2013 .in march 2012 the apsc issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider , subject to refund .the lpsc and the apsc have requested rehearing of the ferc 2019s october 2011 order .in december 2013 the lpsc filed a petition for a writ of mandamus at the united states court of appeals for the d.c .circuit .in its petition , the lpsc requested that the d.c .circuit issue an order compelling the ferc to issue a final order on pending rehearing requests .in its response to the lpsc petition , the ferc committed to rule on the pending rehearing request before the end of february .in january 2014 the d.c .circuit denied the lpsc's petition .the apsc , the lpsc , the puct , and other parties intervened in the december 2011 compliance filing proceeding , and the apsc and the lpsc also filed protests .calendar year 2013 production costs the liabilities and assets for the preliminary estimate of the payments and receipts required to implement the ferc 2019s remedy based on calendar year 2013 production costs were recorded in december 2013 , based on certain year-to-date information .the preliminary estimate was recorded based on the following estimate of the payments/receipts among the utility operating companies for 2014. .
|
what portion of the entergy arkansas payment goes to entergy texas?
|
27.6%
|
{
"answer": "27.6%",
"decimal": 0.276,
"type": "percentage"
}
| |
management 2019s discussion and analysis of financial condition and results of operations ( continued ) liquidity and capital resources snap-on 2019s growth has historically been funded by a combination of cash provided by operating activities and debt financing .snap-on believes that its cash from operations and collections of finance receivables , coupled with its sources of borrowings and available cash on hand , are sufficient to fund its currently anticipated requirements for payments of interest and dividends , new loans originated by our financial services businesses , capital expenditures , working capital , restructuring activities , the funding of pension plans , and funding for additional share repurchases and acquisitions , if any .due to snap-on 2019s credit rating over the years , external funds have been available at an acceptable cost .as of the close of business on february 8 , 2013 , snap-on 2019s long-term debt and commercial paper were rated , respectively , baa1 and p-2 by moody 2019s investors service ; a- and a-2 by standard & poor 2019s ; and a- and f2 by fitch ratings .snap-on believes that its current credit arrangements are sound and that the strength of its balance sheet affords the company the financial flexibility to respond to both internal growth opportunities and those available through acquisitions .however , snap-on cannot provide any assurances of the availability of future financing or the terms on which it might be available , or that its debt ratings may not decrease .the following discussion focuses on information included in the accompanying consolidated balance sheets .as of 2012 year end , working capital ( current assets less current liabilities ) of $ 1079.8 million increased $ 132.9 million from $ 946.9 million at 2011 year end .the following represents the company 2019s working capital position as of 2012 and 2011 year end : ( amounts in millions ) 2012 2011 .
[['( amounts in millions )', '2012', '2011'], ['cash and cash equivalents', '$ 214.5', '$ 185.6'], ['trade and other accounts receivable 2013 net', '497.9', '463.5'], ['finance receivables 2013 net', '323.1', '277.2'], ['contract receivables 2013 net', '62.7', '49.7'], ['inventories 2013 net', '404.2', '386.4'], ['other current assets', '166.6', '168.3'], ['total current assets', '1669.0', '1530.7'], ['notes payable', '-5.2 ( 5.2 )', '-16.2 ( 16.2 )'], ['accounts payable', '-142.5 ( 142.5 )', '-124.6 ( 124.6 )'], ['other current liabilities', '-441.5 ( 441.5 )', '-443.0 ( 443.0 )'], ['total current liabilities', '-589.2 ( 589.2 )', '-583.8 ( 583.8 )'], ['working capital', '$ 1079.8', '$ 946.9']]
cash and cash equivalents of $ 214.5 million as of 2012 year end compared to cash and cash equivalents of $ 185.6 million at 2011 year end .the $ 28.9 million increase in cash and cash equivalents includes the impacts of ( i ) $ 329.3 million of cash generated from operations , net of $ 73.0 million of cash contributions ( including $ 54.7 million of discretionary contributions ) to the company 2019s domestic pension plans ; ( ii ) $ 445.5 million of cash from collections of finance receivables ; ( iii ) $ 46.8 million of proceeds from stock purchase and option plan exercises ; and ( iv ) $ 27.0 million of cash proceeds from the sale of a non-strategic equity investment at book value .these increases in cash and cash equivalents were partially offset by ( i ) the funding of $ 569.6 million of new finance originations ; ( ii ) dividend payments of $ 81.5 million ; ( iii ) the funding of $ 79.4 million of capital expenditures ; and ( iv ) the repurchase of 1180000 shares of the company 2019s common stock for $ 78.1 million .of the $ 214.5 million of cash and cash equivalents as of 2012 year end , $ 81.4 million was held outside of the united states .snap-on considers these non-u.s .funds as permanently invested in its foreign operations to ( i ) provide adequate working capital ; ( ii ) satisfy various regulatory requirements ; and/or ( iii ) take advantage of business expansion opportunities as they arise ; as such , the company does not presently expect to repatriate these funds to fund its u.s .operations or obligations .the repatriation of cash from certain foreign subsidiaries could have adverse net tax consequences on the company should snap-on be required to pay and record u.s .income taxes and foreign withholding taxes on funds that were previously considered permanently invested .alternatively , the repatriation of such cash from certain other foreign subsidiaries could result in favorable net tax consequences for the company .snap-on periodically evaluates opportunities to repatriate certain foreign cash amounts to the extent that it does not incur additional unfavorable net tax consequences .44 snap-on incorporated .
|
what portion of cash and cash equivalents as of 2012 was held outside unites states?
|
37.9%
|
{
"answer": "37.9%",
"decimal": 0.379,
"type": "percentage"
}
| |
58 2016 annual report 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 banking 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 , 2016 included revenue of $ 4273 and after-tax net income of $ 303 .the accompanying consolidated statements of income for the fiscal year ended june 30 , 2016 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 .banno , llc effective march 1 , 2014 , the company acquired all of the equity interests of banno , an iowa-based company that provides web and transaction marketing services with a focus on the mobile medium , for $ 27910 paid in cash .this acquisition was funded using existing operating cash .the acquisition of banno expanded the company 2019s presence in online and mobile technologies within the industry .during fiscal year 2014 , the company incurred $ 30 in costs related to the acquisition of banno .these costs included fees for legal , valuation and other fees .these costs were included within general and administrative expenses .the results of banno's operations included in the company's consolidated statements of income for the year ended june 30 , 2016 included revenue of $ 6393 and after-tax net loss of $ 1289 .for the year ended june 30 , 2015 , our consolidated statements of income included revenue of $ 4175 and after-tax net loss of $ 1784 attributable to banno .the results of banno 2019s operations included in the company 2019s consolidated statement of operations from the acquisition date to june 30 , 2014 included revenue of $ 848 and after-tax net loss of $ 1121 .the accompanying consolidated statements of income for the twelve month period ended june 30 , 2016 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. .
|
what was the percent of the make-up of the acquisition that was allocated to the goodwill in the net assets acquired
|
60.9%
|
{
"answer": "60.9%",
"decimal": 0.609,
"type": "percentage"
}
| |
our existing cash flow hedges are highly effective and there is no current impact on earnings due to hedge ineffectiveness .it is our policy to execute such instruments with credit-worthy banks and not to enter into derivative financial instruments for speculative purposes .contractual obligations fis 2019s long-term contractual obligations generally include its long-term debt and operating lease payments on certain of its property and equipment .the following table summarizes fis 2019s significant contractual obligations and commitments as of december 31 , 2007 ( in thousands ) : .
[['', '2008', '2009', '2010', '2011', '2012', 'thereafter', 'total'], ['long-term debt', '$ 272014', '$ 142850', '$ 226000', '$ 173500', '$ 1945033', '$ 1516000', '$ 4275397'], ['interest', '254716', '238554', '227320', '218416', '109226', '101987', '1150219'], ['operating leases', '83382', '63060', '35269', '21598', '14860', '30869', '249038'], ['investment commitments', '47514', '2014', '2014', '2014', '2014', '2014', '47514'], ['purchase commitments', '33264', '2014', '2014', '2014', '2014', '2014', '33264'], ['data processing and maintenance commitments', '198290', '171411', '107105', '63010', '61035', '287479', '888330'], ['total', '$ 889180', '$ 615875', '$ 595694', '$ 476524', '$ 2130154', '$ 1936335', '$ 6643762']]
off-balance sheet arrangements fis does not have any material off-balance sheet arrangements other than operating leases .escrow arrangements in conducting our title agency , closing and 1031 exchange services operations , we routinely hold customers 2019 assets in escrow , pending completion of real estate transactions .certain of these amounts are maintained in segregated bank accounts and have not been included in the accompanying consolidated balance sheets .we have a contingent liability relating to proper disposition of these balances , which amounted to $ 1926.8 million at december 31 , 2007 .as a result of holding these customers 2019 assets in escrow , we have ongoing programs for realizing economic benefits during the year through favorable borrowing and vendor arrangements with various banks .there were no loans outstanding as of december 31 , 2007 and these balances were invested in short term , high grade investments that minimize the risk to principal .recent accounting pronouncements in december 2007 , the fasb issued sfas no .141 ( revised 2007 ) , business combinations ( 201csfas 141 ( r ) 201d ) , requiring an acquirer in a business combination to recognize the assets acquired , the liabilities assumed , and any noncontrolling interest in the acquiree at their fair values at the acquisition date , with limited exceptions .the costs of the acquisition and any related restructuring costs will be recognized separately .assets and liabilities arising from contingencies in a business combination are to be recognized at their fair value at the acquisition date and adjusted prospectively as new information becomes available .when the fair value of assets acquired exceeds the fair value of consideration transferred plus any noncontrolling interest in the acquiree , the excess will be recognized as a gain .under sfas 141 ( r ) , all business combinations will be accounted for by applying the acquisition method , including combinations among mutual entities and combinations by contract alone .sfas 141 ( r ) applies prospectively to business combinations for which the acquisition date is on or after the first annual reporting period beginning on or after december 15 , 2008 , is effective for periods beginning on or after december 15 , 2008 , and will apply to business combinations occurring after the effective date .management is currently evaluating the impact of this statement on our statements of financial position and operations .in december 2007 , the fasb issued sfas no .160 , noncontrolling interests in consolidated financial statements 2014 an amendment of arb no .51 ( 201csfas 160 201d ) , requiring noncontrolling interests ( sometimes called minority interests ) to be presented as a component of equity on the balance sheet .sfas 160 also requires that the amount of net income attributable to the parent and to the noncontrolling interests be clearly identified and presented on the face of the consolidated statement of income .this statement eliminates the need to apply purchase .
|
what percentage of total significant contractual obligations and commitments as of december 31 , 2007 are is interest?
|
17%
|
{
"answer": "17%",
"decimal": 0.17,
"type": "percentage"
}
| |
entergy corporation and subsidiaries management's financial discussion and analysis the purchased power capacity variance is primarily due to higher capacity charges .a portion of the variance is due to the amortization of deferred capacity costs and is offset in base revenues due to base rate increases implemented to recover incremental deferred and ongoing purchased power capacity charges .the volume/weather variance is primarily due to the effect of less favorable weather compared to the same period in 2007 and decreased electricity usage primarily during the unbilled sales period .hurricane gustav and hurricane ike , which hit the utility's service territories in september 2008 , contributed an estimated $ 46 million to the decrease in electricity usage .industrial sales were also depressed by the continuing effects of the hurricanes and , especially in the latter part of the year , because of the overall decline of the economy , leading to lower usage in the latter part of the year affecting both the large customer industrial segment as well as small and mid-sized industrial customers .the decreases in electricity usage were partially offset by an increase in residential and commercial customer electricity usage that occurred during the periods of the year not affected by the hurricanes .the retail electric price variance is primarily due to : an increase in the attala power plant costs recovered through the power management rider by entergy mississippi .the net income effect of this recovery is limited to a portion representing an allowed return on equity with the remainder offset by attala power plant costs in other operation and maintenance expenses , depreciation expenses , and taxes other than income taxes ; a storm damage rider that became effective in october 2007 at entergy mississippi ; and an energy efficiency rider that became effective in november 2007 at entergy arkansas .the establishment of the storm damage rider and the energy efficiency rider results in an increase in rider revenue and a corresponding increase in other operation and maintenance expense with no impact on net income .the retail electric price variance was partially offset by : the absence of interim storm recoveries through the formula rate plans at entergy louisiana and entergy gulf states louisiana which ceased upon the act 55 financing of storm costs in the third quarter 2008 ; and a credit passed on to customers as a result of the act 55 storm cost financings .refer to "liquidity and capital resources - hurricane katrina and hurricane rita" below and note 2 to the financial statements for a discussion of the interim recovery of storm costs and the act 55 storm cost financings .non-utility nuclear following is an analysis of the change in net revenue comparing 2008 to 2007 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2007 net revenue', '$ 1839'], ['realized price changes', '309'], ['palisades acquisition', '98'], ['volume variance ( other than palisades )', '73'], ['fuel expenses ( other than palisades )', '-19 ( 19 )'], ['other', '34'], ['2008 net revenue', '$ 2334']]
as shown in the table above , net revenue for non-utility nuclear increased by $ 495 million , or 27% ( 27 % ) , in 2008 compared to 2007 primarily due to higher pricing in its contracts to sell power , additional production available from the acquisition of palisades in april 2007 , and fewer outage days .in addition to the refueling outages shown in the .
|
what portion of the increase in net revenue from non-utility nuclear is attributed to the change in realized price?
|
62.4%
|
{
"answer": "62.4%",
"decimal": 0.624,
"type": "percentage"
}
| |
interest expense .
[['', '2014', '2013', '2012'], ['interest incurred', '$ 158.1', '$ 167.6', '$ 153.9'], ['less : capitalized interest', '33.0', '25.8', '30.2'], ['interest expense', '$ 125.1', '$ 141.8', '$ 123.7']]
2014 vs .2013 interest incurred decreased $ 9.5 .the decrease was primarily due to a lower average interest rate on the debt portfolio which reduced interest by $ 13 , partially offset by a higher average debt balance which increased interest by $ 6 .the change in capitalized interest was driven by a higher carrying value in construction in progress .2013 vs .2012 interest incurred increased $ 13.7 .the increase was driven primarily by a higher average debt balance for $ 41 , partially offset by a lower average interest rate on the debt portfolio of $ 24 .the change in capitalized interest was driven by a decrease in project spending and a lower average interest rate .effective tax rate the effective tax rate equals the income tax provision divided by income from continuing operations before taxes .refer to note 22 , income taxes , to the consolidated financial statements for details on factors affecting the effective tax rate .2014 vs .2013 on a gaap basis , the effective tax rate was 27.0% ( 27.0 % ) and 22.8% ( 22.8 % ) in 2014 and 2013 , respectively .the effective tax rate was higher in the current year primarily due to the goodwill impairment charge of $ 305.2 , which was not deductible for tax purposes , and the chilean tax reform enacted in september 2014 which increased income tax expense by $ 20.6 .these impacts were partially offset by an income tax benefit of $ 51.6 associated with losses from transactions and a tax election in a non-u.s .subsidiary .the prior year rate included income tax benefits of $ 73.7 related to the business restructuring and cost reduction plans and $ 3.7 for the advisory costs .refer to note 4 , business restructuring and cost reduction actions ; note 9 , goodwill ; note 22 , income taxes ; and note 23 , supplemental information , to the consolidated financial statements for details on these transactions .on a non-gaap basis , the effective tax rate was 24.0% ( 24.0 % ) and 24.2% ( 24.2 % ) in 2014 and 2013 , respectively .2013 vs .2012 on a gaap basis , the effective tax rate was 22.8% ( 22.8 % ) and 21.9% ( 21.9 % ) in 2013 and 2012 , respectively .the effective rate in 2013 includes income tax benefits of $ 73.7 related to the business restructuring and cost reduction plans and $ 3.7 for the advisory costs .the effective rate in 2012 includes income tax benefits of $ 105.0 related to the business restructuring and cost reduction plans , $ 58.3 related to the second quarter spanish tax ruling , and $ 3.7 related to the customer bankruptcy charge , offset by income tax expense of $ 43.8 related to the first quarter spanish tax settlement and $ 31.3 related to the gain on the previously held equity interest in da nanomaterials .refer to note 4 , business restructuring and cost reduction actions ; note 5 , business combinations ; note 22 , income taxes ; and note 23 , supplemental information , to the consolidated financial statements for details on these transactions .on a non-gaap basis , the effective tax rate was 24.2% ( 24.2 % ) in both 2013 and 2012 .discontinued operations during the second quarter of 2012 , the board of directors authorized the sale of our homecare business , which had previously been reported as part of the merchant gases operating segment .in 2012 , we sold the majority of our homecare business to the linde group for sale proceeds of 20ac590 million ( $ 777 ) and recognized a gain of $ 207.4 ( $ 150.3 after-tax , or $ .70 per share ) .in addition , an impairment charge of $ 33.5 ( $ 29.5 after-tax , or $ .14 per share ) was recorded to write down the remaining business , which was primarily in the united kingdom and ireland , to its estimated net realizable value .in 2013 , we recorded an additional charge of $ 18.7 ( $ 13.6 after-tax , or $ .06 per share ) to update our estimate of the net realizable value .in 2014 , a gain of $ 3.9 was recognized for the sale of the remaining homecare business and settlement of contingencies on the sale to the linde group .refer to note 3 , discontinued operations , to the consolidated financial statements for additional details on this business. .
|
considering the years 2012-2013 and the gaap basis , what was the percentual increase in the effective tax rate?
|
0.9%
|
{
"answer": "0.9%",
"decimal": 0.009000000000000001,
"type": "percentage"
}
|
it is the variation between each year's effective tax rate .
|
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 is the anticipated percentage increase in the berths for the european cruise market from 2013 to 2017
|
16%
|
{
"answer": "16%",
"decimal": 0.16,
"type": "percentage"
}
| |
portion of the death benefits directly from the insurance company and the company receives the remainder of the death benefits .it is currently expected that minimal cash payments will be required to fund these policies .the net periodic pension cost for these split-dollar life insurance arrangements was $ 5 million for the years ended december 31 , 2013 , 2012 and 2011 .the company has recorded a liability representing the actuarial present value of the future death benefits as of the employees 2019 expected retirement date of $ 51 million and $ 58 million as of december 31 , 2013 and december 31 , 2012 , respectively .deferred compensation plan the company amended and reinstated its deferred compensation plan ( 201cthe plan 201d ) effective june 1 , 2013 to reopen the plan to certain participants .under the plan , participating executives may elect to defer base salary and cash incentive compensation in excess of 401 ( k ) plan limitations .participants under the plan may choose to invest their deferred amounts in the same investment alternatives available under the company's 401 ( k ) plan .the plan also allows for company matching contributions for the following : ( i ) the first 4% ( 4 % ) of compensation deferred under the plan , subject to a maximum of $ 50000 for board officers , ( ii ) lost matching amounts that would have been made under the 401 ( k ) plan if participants had not participated in the plan , and ( iii ) discretionary amounts as approved by the compensation and leadership committee of the board of directors .defined contribution plan the company and certain subsidiaries have various defined contribution plans , in which all eligible employees may participate .in the u.s. , the 401 ( k ) plan is a contributory plan .matching contributions are based upon the amount of the employees 2019 contributions .the company 2019s expenses for material defined contribution plans for the years ended december 31 , 2013 , 2012 and 2011 were $ 44 million , $ 42 million and $ 48 million , respectively .beginning january 1 , 2012 , the company may make an additional discretionary 401 ( k ) plan matching contribution to eligible employees .for the years ended december 31 , 2013 and 2012 , the company made no discretionary matching contributions .8 .share-based compensation plans and other incentive plans stock options , stock appreciation rights and employee stock purchase plan the company grants options to acquire shares of common stock to certain employees and to existing option holders of acquired companies in connection with the merging of option plans following an acquisition .each option granted and stock appreciation right has an exercise price of no less than 100% ( 100 % ) of the fair market value of the common stock on the date of the grant .the awards have a contractual life of five to fifteen years and vest over two to four years .stock options and stock appreciation rights assumed or replaced with comparable stock options or stock appreciation rights in conjunction with a change in control of the company only become exercisable if the holder is also involuntarily terminated ( for a reason other than cause ) or quits for good reason within 24 months of a change in control .the employee stock purchase plan allows eligible participants to purchase shares of the company 2019s common stock through payroll deductions of up to 20% ( 20 % ) of eligible compensation on an after-tax basis .plan participants cannot purchase more than $ 25000 of stock in any calendar year .the price an employee pays per share is 85% ( 85 % ) of the lower of the fair market value of the company 2019s stock on the close of the first trading day or last trading day of the purchase period .the plan has two purchase periods , the first from october 1 through march 31 and the second from april 1 through september 30 .for the years ended december 31 , 2013 , 2012 and 2011 , employees purchased 1.5 million , 1.4 million and 2.2 million shares , respectively , at purchase prices of $ 43.02 and $ 50.47 , $ 34.52 and $ 42.96 , and $ 30.56 and $ 35.61 , respectively .the company calculates the value of each employee stock option , estimated on the date of grant , using the black-scholes option pricing model .the weighted-average estimated fair value of employee stock options granted during 2013 , 2012 and 2011 was $ 9.52 , $ 9.60 and $ 13.25 , respectively , using the following weighted-average assumptions: .
[['', '2013', '2012', '2011'], ['expected volatility', '22.1% ( 22.1 % )', '24.0% ( 24.0 % )', '28.8% ( 28.8 % )'], ['risk-free interest rate', '0.9% ( 0.9 % )', '0.8% ( 0.8 % )', '2.1% ( 2.1 % )'], ['dividend yield', '2.4% ( 2.4 % )', '2.2% ( 2.2 % )', '0.0% ( 0.0 % )'], ['expected life ( years )', '5.9', '6.1', '6.0']]
the company uses the implied volatility for traded options on the company 2019s stock as the expected volatility assumption required in the black-scholes model .the selection of the implied volatility approach was based upon the availability of .
|
what was the average expected volatility from 2011 to 2013
|
24.96%
|
{
"answer": "24.96%",
"decimal": 0.24960000000000002,
"type": "percentage"
}
| |
morgan stanley notes to consolidated financial statements 2014 ( continued ) lending commitments .primary lending commitments are those that are originated by the company whereas secondary lending commitments are purchased from third parties in the market .the commitments include lending commitments that are made to investment grade and non-investment grade companies in connection with corporate lending and other business activities .commitments for secured lending transactions .secured lending commitments are extended by the company to companies and are secured by real estate or other physical assets of the borrower .loans made under these arrangements typically are at variable rates and generally provide for over-collateralization based upon the creditworthiness of the borrower .forward starting reverse repurchase agreements .the company has entered into forward starting securities purchased under agreements to resell ( agreements that have a trade date at or prior to december 31 , 2013 and settle subsequent to period-end ) that are primarily secured by collateral from u.s .government agency securities and other sovereign government obligations .commercial and residential mortgage-related commitments .the company enters into forward purchase contracts involving residential mortgage loans , residential mortgage lending commitments to individuals and residential home equity lines of credit .in addition , the company enters into commitments to originate commercial and residential mortgage loans .underwriting commitments .the company provides underwriting commitments in connection with its capital raising sources to a diverse group of corporate and other institutional clients .other lending commitments .other commitments generally include commercial lending commitments to small businesses and commitments related to securities-based lending activities in connection with the company 2019s wealth management business segment .the company sponsors several non-consolidated investment funds for third-party investors where the company typically acts as general partner of , and investment advisor to , these funds and typically commits to invest a minority of the capital of such funds , with subscribing third-party investors contributing the majority .the company 2019s employees , including its senior officers , as well as the company 2019s directors , may participate on the same terms and conditions as other investors in certain of these funds that the company forms primarily for client investment , except that the company may waive or lower applicable fees and charges for its employees .the company has contractual capital commitments , guarantees , lending facilities and counterparty arrangements with respect to these investment funds .premises and equipment .the company has non-cancelable operating leases covering premises and equipment ( excluding commodities operating leases , shown separately ) .at december 31 , 2013 , future minimum rental commitments under such leases ( net of subleases , principally on office rentals ) were as follows ( dollars in millions ) : year ended operating premises leases .
[['year ended', 'operating premises leases'], ['2014', '$ 672'], ['2015', '656'], ['2016', '621'], ['2017', '554'], ['2018', '481'], ['thereafter', '2712']]
.
|
what is the percentage difference in future minimum rental commitments as of december 31 , 2013 between 2014 and 2015?
|
-2%
|
{
"answer": "-2%",
"decimal": -0.02,
"type": "percentage"
}
| |
restructuring and other charges 2014restructuring and other charges for each year in the three-year period ended december 31 , 2015 were comprised of the following: .
[['', '2015', '2014', '2013'], ['asset impairments', '$ 335', '$ 406', '$ 116'], ['layoff costs', '299', '259', '201'], ['legal matters in italy', '201', '-', '-'], ['net loss on divestitures of businesses', '161', '332', '-'], ['resolution of a legal matter', '-', '-', '391'], ['other', '213', '199', '82'], ['reversals of previously recorded layoff and other exit costs', '-14 ( 14 )', '-28 ( 28 )', '-8 ( 8 )'], ['restructuring and other charges', '$ 1195', '$ 1168', '$ 782']]
layoff costs were recorded based on approved detailed action plans submitted by the operating locations that specified positions to be eliminated , benefits to be paid under existing severance plans , union contracts or statutory requirements , and the expected timetable for completion of the plans .2015 actions .in 2015 , alcoa recorded restructuring and other charges of $ 1195 ( $ 836 after-tax and noncontrolling interest ) , which were comprised of the following components : $ 438 ( $ 281 after-tax and noncontrolling interest ) for exit costs related to decisions to permanently shut down and demolish three smelters and a power station ( see below ) ; $ 246 ( $ 118 after-tax and noncontrolling interest ) for the curtailment of two refineries and two smelters ( see below ) ; $ 201 ( pre- and after-tax ) related to legal matters in italy ; a $ 161 ( $ 151 after-tax and noncontrolling interest ) net loss related to the march 2015 divestiture of a rolling mill in russia ( see global rolled products in segment information below ) and post-closing adjustments associated with three december 2014 divestitures ; $ 143 ( $ 102 after-tax and noncontrolling interest ) for layoff costs , including the separation of approximately 2100 employees ( 425 in the transportation and construction solutions segment , 645 in the engineered products and solutions segment , 380 in the primary metals segment , 90 in the global rolled products segment , 85 in the alumina segment , and 475 in corporate ) ; $ 34 ( $ 14 after-tax and noncontrolling interest ) for asset impairments , virtually all of which was related to prior capitalized costs for an expansion project at a refinery in australia that is no longer being pursued ; an $ 18 ( $ 13 after- tax ) gain on the sale of land related to one of the rolling mills in australia that was permanently closed in december 2014 ( see 2014 actions below ) ; a net charge of $ 4 ( a net credit of $ 7 after-tax and noncontrolling interest ) for other miscellaneous items ; and $ 14 ( $ 11 after-tax and noncontrolling interest ) for the reversal of a number of small layoff reserves related to prior periods .during 2015 , management initiated various alumina refining and aluminum smelting capacity curtailments and/or closures .the curtailments were composed of the remaining capacity at all of the following : the s e3o lu eds smelter in brazil ( 74 kmt-per-year ) ; the suriname refinery ( 1330 kmt-per-year ) ; the point comfort , tx refinery ( 2010 kmt-per- year ) ; and the wenatchee , wa smelter ( 143 kmt-per-year ) .all of the curtailments were completed in 2015 except for 1635 kmt-per-year at the point comfort refinery , which is expected to be completed by the end of june 2016 .the permanent closures were composed of the capacity at the warrick , in smelter ( 269 kmt-per-year ) ( includes the closure of a related coal mine ) and the infrastructure of the massena east , ny smelter ( potlines were previously shut down in both 2013 and 2014 2014see 2013 actions and 2014 actions below ) , as the modernization of this smelter is no longer being pursued .the shutdown of the warrick smelter is expected to be completed by the end of march 2016 .the decisions on the above actions were part of a separate 12-month review in refining ( 2800 kmt-per-year ) and smelting ( 500 kmt-per-year ) capacity initiated by management in march 2015 for possible curtailment ( partial or full ) , permanent closure or divestiture .while many factors contributed to each decision , in general , these actions were initiated to maintain competitiveness amid prevailing market conditions for both alumina and aluminum .demolition and remediation activities related to the warrick smelter and the massena east location will begin in 2016 and are expected to be completed by the end of 2020 .separate from the actions initiated under the reviews described above , in mid-2015 , management approved the permanent shutdown and demolition of the po e7os de caldas smelter ( capacity of 96 kmt-per-year ) in brazil and the .
|
what is the percentual growth observed in the percentage of asset impairment costs concerning the restructuring and other charges costs during 2013 and 2014?
|
19.93%
|
{
"answer": "19.93%",
"decimal": 0.1993,
"type": "percentage"
}
|
it is the difference between the percentage of asset impairment costs concerning the restructuring and other charges costs in 2013 and 2014
|
( 5 ) we occupy approximately 350000 square feet of the one north end building .( 6 ) this property is owned by board of trade investment company ( botic ) .kcbt maintains a 51% ( 51 % ) controlling interest in botic .we also lease other office space around the world and have also partnered with major global telecommunications carriers in connection with our telecommunications hubs whereby we place data cabinets within the carriers 2019 existing secured data centers .we believe our facilities are adequate for our current operations and that additional space can be obtained if needed .item 3 .legal proceedings see 201clegal and regulatory matters 201d in note 14 .contingencies to the consolidated financial statements beginning on page 91 for cme group 2019s legal proceedings disclosure which is incorporated herein by reference .item 4 .mine safety disclosures not applicable .part ii item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities class a common stock our class a common stock is currently listed on nasdaq under the ticker symbol 201ccme . 201d as of february 13 , 2013 , there were approximately 3106 holders of record of our class a common stock .in may 2012 , the company 2019s board of directors declared a five-for-one split of its class a common stock effected by way of a stock dividend to its class a and class b shareholders .the stock split was effective july 20 , 2012 for all shareholders of record on july 10 , 2012 .as a result of the stock split , all amounts related to shares and per share amounts have been retroactively restated .the following table sets forth the high and low sales prices per share of our class a common stock on a quarterly basis , as reported on nasdaq. .
[['2012 first quarter', 'high $ 59.73', 'low $ 45.20', '2011 first quarter', 'high $ 63.40', 'low $ 56.06'], ['second quarter', '58.24', '50.70', 'second quarter', '62.15', '52.45'], ['third quarter', '59.35', '49.83', 'third quarter', '59.80', '47.43'], ['fourth quarter', '57.89', '50.12', 'fourth quarter', '59.73', '45.20']]
class b common stock our class b common stock is not listed on a national securities exchange or traded in an organized over- the-counter market .each class of our class b common stock is associated with a membership in a specific division of our cme exchange .cme 2019s rules provide exchange members with trading rights and the ability to use or lease these trading rights .each share of our class b common stock can be transferred only in connection with the transfer of the associated trading rights. .
|
what was the average sales price for the class b common shares in 2012 in the first quarter
|
52.465
|
{
"answer": "52.465",
"decimal": 52.465,
"type": "float"
}
| |
welltower inc .notes to consolidated financial statements is no longer present ( and additional weight may be given to subjective evidence such as our projections for growth ) .the valuation allowance rollforward is summarized as follows for the periods presented ( in thousands ) : year ended december 31 , 2017 2016 2015 .
[['2016', 'year ended december 31 2017 2016', 'year ended december 31 2017 2016', 'year ended december 31 2017'], ['beginning balance', '$ 96838', '$ 98966', '$ 85207'], ['expense ( benefit )', '30445', '-2128 ( 2128 )', '13759'], ['ending balance', '$ 127283', '$ 96838', '$ 98966']]
as a result of certain acquisitions , we are subject to corporate level taxes for any related asset dispositions that may occur during the five-year period immediately after such assets were owned by a c corporation ( 201cbuilt-in gains tax 201d ) .the amount of income potentially subject to this special corporate level tax is generally equal to the lesser of ( a ) the excess of the fair value of the asset over its adjusted tax basis as of the date it became a reit asset , or ( b ) the actual amount of gain .some but not all gains recognized during this period of time could be offset by available net operating losses and capital loss carryforwards .during the year ended december 31 , 2016 , we acquired certain additional assets with built-in gains as of the date of acquisition that could be subject to the built-in gains tax if disposed of prior to the expiration of the applicable ten-year period .we have not recorded a deferred tax liability as a result of the potential built-in gains tax based on our intentions with respect to such properties and available tax planning strategies .under the provisions of the reit investment diversification and empowerment act of 2007 ( 201cridea 201d ) , for taxable years beginning after july 30 , 2008 , the reit may lease 201cqualified health care properties 201d on an arm 2019s-length basis to a trs if the property is operated on behalf of such subsidiary by a person who qualifies as an 201celigible independent contractor . 201d generally , the rent received from the trs will meet the related party rent exception and will be treated as 201crents from real property . 201d a 201cqualified health care property 201d includes real property and any personal property that is , or is necessary or incidental to the use of , a hospital , nursing facility , assisted living facility , congregate care facility , qualified continuing care facility , or other licensed facility which extends medical or nursing or ancillary services to patients .we have entered into various joint ventures that were structured under ridea .resident level rents and related operating expenses for these facilities are reported in the consolidated financial statements and are subject to federal , state and foreign income taxes as the operations of such facilities are included in a trs .certain net operating loss carryforwards could be utilized to offset taxable income in future years .given the applicable statute of limitations , we generally are subject to audit by the internal revenue service ( 201cirs 201d ) for the year ended december 31 , 2014 and subsequent years .the statute of limitations may vary in the states in which we own properties or conduct business .we do not expect to be subject to audit by state taxing authorities for any year prior to the year ended december 31 , 2011 .we are also subject to audit by the canada revenue agency and provincial authorities generally for periods subsequent to may 2012 related to entities acquired or formed in connection with acquisitions , and by the u.k . 2019s hm revenue & customs for periods subsequent to august 2012 related to entities acquired or formed in connection with acquisitions .at december 31 , 2017 , we had a net operating loss ( 201cnol 201d ) carryforward related to the reit of $ 448475000 .due to our uncertainty regarding the realization of certain deferred tax assets , we have not recorded a deferred tax asset related to nols generated by the reit .these amounts can be used to offset future taxable income ( and/or taxable income for prior years if an audit determines that tax is owed ) , if any .the reit will be entitled to utilize nols and tax credit carryforwards only to the extent that reit taxable income exceeds our deduction for dividends paid .the nol carryforwards generated through december 31 , 2017 will expire through 2036 .beginning with tax years after december 31 , 2017 , the tax cuts and jobs act ( 201ctax act 201d ) eliminates the carryback period , limits the nols to 80% ( 80 % ) of taxable income and replaces the 20-year carryforward period with an indefinite carryforward period. .
|
what is the percentage change in the balance valuation allowance rollforward during 2016?
|
-2.2%
|
{
"answer": "-2.2%",
"decimal": -0.022000000000000002,
"type": "percentage"
}
| |
10-k altria ar release tuesday , february 27 , 2018 10:00pm andra design llc performance stock units : in january 2017 , altria group , inc .granted an aggregate of 187886 performance stock units to eligible employees .the payout of the performance stock units requires the achievement of certain performance measures , which were predetermined at the time of grant , over a three-year performance cycle .these performance measures consist of altria group , inc . 2019s adjusted diluted earnings per share ( 201ceps 201d ) compounded annual growth rate and altria group , inc . 2019s total shareholder return relative to a predetermined peer group .the performance stock units are also subject to forfeiture if certain employment conditions are not met .at december 31 , 2017 , altria group , inc .had 170755 performance stock units remaining , with a weighted-average grant date fair value of $ 70.39 per performance stock unit .the fair value of the performance stock units at the date of grant , net of estimated forfeitures , is amortized to expense over the performance period .altria group , inc .recorded pre-tax compensation expense related to performance stock units for the year ended december 31 , 2017 of $ 6 million .the unamortized compensation expense related to altria group , inc . 2019s performance stock units was $ 7 million at december 31 , 2017 .altria group , inc .did not grant any performance stock units during 2016 and 2015 .note 12 .earnings per share basic and diluted eps were calculated using the following: .
[['( in millions )', 'for the years ended december 31 , 2017', 'for the years ended december 31 , 2016', 'for the years ended december 31 , 2015'], ['net earnings attributable to altria group inc .', '$ 10222', '$ 14239', '$ 5241'], ['less : distributed and undistributed earnings attributable to share-based awards', '-14 ( 14 )', '-24 ( 24 )', '-10 ( 10 )'], ['earnings for basic and diluted eps', '$ 10208', '$ 14215', '$ 5231'], ['weighted-average shares for basic and diluted eps', '1921', '1952', '1961']]
net earnings attributable to altria group , inc .$ 10222 $ 14239 $ 5241 less : distributed and undistributed earnings attributable to share-based awards ( 14 ) ( 24 ) ( 10 ) earnings for basic and diluted eps $ 10208 $ 14215 $ 5231 weighted-average shares for basic and diluted eps 1921 1952 1961 .
|
what is the percent change in net earnings attributable to altria group inc . from 2016 to 2017?
|
39.3%
|
{
"answer": "39.3%",
"decimal": 0.39299999999999996,
"type": "percentage"
}
| |
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 benefit payments for 2010 to 2011
|
0.67
|
{
"answer": "0.67",
"decimal": 0.67,
"type": "float"
}
| |
management 2019s discussion and analysis investing & lending investing & lending includes our investing activities and the origination of loans to provide financing to clients .these investments and loans are typically longer-term in nature .we make investments , some of which are consolidated , directly and indirectly through funds that we manage , in debt securities and loans , public and private equity securities , and real estate entities .the table below presents the operating results of our investing & lending segment. .
[['$ in millions', 'year ended december 2014', 'year ended december 2013', 'year ended december 2012'], ['equity securities', '$ 3813', '$ 3930', '$ 2800'], ['debt securities and loans', '2165', '1947', '1850'], ['other1', '847', '1141', '1241'], ['total net revenues', '6825', '7018', '5891'], ['operating expenses', '2819', '2686', '2668'], ['pre-tax earnings', '$ 4006', '$ 4332', '$ 3223']]
1 .includes net revenues of $ 325 million for 2014 , $ 329 million for 2013 and $ 362 million for 2012 related to metro international trade services llc .we completed the sale of this consolidated investment in december 2014 .2014 versus 2013 .net revenues in investing & lending were $ 6.83 billion for 2014 , 3% ( 3 % ) lower than 2013 .net gains from investments in equity securities were slightly lower due to a significant decrease in net gains from investments in public equities , as movements in global equity prices during 2014 were less favorable compared with 2013 , partially offset by an increase in net gains from investments in private equities , primarily driven by company-specific events .net revenues from debt securities and loans were higher than 2013 , reflecting a significant increase in net interest income , primarily driven by increased lending , and a slight increase in net gains , primarily due to sales of certain investments during 2014 .other net revenues , related to our consolidated investments , were significantly lower compared with 2013 , reflecting a decrease in operating revenues from commodities-related consolidated investments .during 2014 , net revenues in investing & lending generally reflected favorable company-specific events , including initial public offerings and financings , and strong corporate performance , as well as net gains from sales of certain investments .however , concerns about the outlook for the global economy and uncertainty over the impact of financial regulatory reform continue to be meaningful considerations for the global marketplace .if equity markets decline or credit spreads widen , net revenues in investing & lending would likely be negatively impacted .operating expenses were $ 2.82 billion for 2014 , 5% ( 5 % ) higher than 2013 , reflecting higher compensation and benefits expenses , partially offset by lower expenses related to consolidated investments .pre-tax earnings were $ 4.01 billion in 2014 , 8% ( 8 % ) lower than 2013 .2013 versus 2012 .net revenues in investing & lending were $ 7.02 billion for 2013 , 19% ( 19 % ) higher than 2012 , reflecting a significant increase in net gains from investments in equity securities , driven by company-specific events and stronger corporate performance , as well as significantly higher global equity prices .in addition , net gains and net interest income from debt securities and loans were slightly higher , while other net revenues , related to our consolidated investments , were lower compared with 2012 .during 2013 , net revenues in investing & lending generally reflected favorable company-specific events and strong corporate performance , as well as the impact of significantly higher global equity prices and tighter corporate credit spreads .operating expenses were $ 2.69 billion for 2013 , essentially unchanged compared with 2012 .operating expenses during 2013 included lower impairment charges and lower operating expenses related to consolidated investments , partially offset by increased compensation and benefits expenses due to higher net revenues compared with 2012 .pre-tax earnings were $ 4.33 billion in 2013 , 34% ( 34 % ) higher than 2012 .goldman sachs 2014 annual report 45 .
|
in 2014 what percentage of total net revenues for the investing & lending segment were due to debt securities and loans?
|
32%
|
{
"answer": "32%",
"decimal": 0.32,
"type": "percentage"
}
| |
on a regular basis our special asset committee closely monitors loans , primarily commercial loans , that are not included in the nonperforming or accruing past due categories and for which we are uncertain about the borrower 2019s ability to comply with existing repayment terms .these loans totaled $ .2 billion at both december 31 , 2014 and december 31 , 2013 .home equity loan portfolio our home equity loan portfolio totaled $ 34.7 billion as of december 31 , 2014 , or 17% ( 17 % ) of the total loan portfolio .of that total , $ 20.4 billion , or 59% ( 59 % ) , was outstanding under primarily variable-rate home equity lines of credit and $ 14.3 billion , or 41% ( 41 % ) , consisted of closed-end home equity installment loans .approximately 3% ( 3 % ) of the home equity portfolio was on nonperforming status as of december 31 , 2014 .as of december 31 , 2014 , we are in an originated first lien position for approximately 51% ( 51 % ) of the total portfolio and , where originated as a second lien , we currently hold or service the first lien position for approximately an additional 2% ( 2 % ) of the portfolio .the remaining 47% ( 47 % ) of the portfolio was secured by second liens where we do not hold the first lien position .the credit performance of the majority of the home equity portfolio where we are in , hold or service the first lien position , is superior to the portion of the portfolio where we hold the second lien position but do not hold the first lien .lien position information is generally based upon original ltv at the time of origination .however , after origination pnc is not typically notified when a senior lien position that is not held by pnc is satisfied .therefore , information about the current lien status of junior lien loans is less readily available in cases where pnc does not also hold the senior lien .additionally , pnc is not typically notified when a junior lien position is added after origination of a pnc first lien .this updated information for both junior and senior liens must be obtained from external sources , and therefore , pnc has contracted with an industry-leading third-party service provider to obtain updated loan , lien and collateral data that is aggregated from public and private sources .we track borrower performance monthly , including obtaining original ltvs , updated fico scores at least quarterly , updated ltvs semi-annually , and other credit metrics at least quarterly , including the historical performance of any mortgage loans regardless of lien position that we do or do not hold .this information is used for internal reporting and risk management .for internal reporting and risk management we also segment the population into pools based on product type ( e.g. , home equity loans , brokered home equity loans , home equity lines of credit , brokered home equity lines of credit ) .as part of our overall risk analysis and monitoring , we segment the home equity portfolio based upon the delinquency , modification status and bankruptcy status of these loans , as well as the delinquency , modification status and bankruptcy status of any mortgage loan with the same borrower ( regardless of whether it is a first lien senior to our second lien ) .in establishing our alll for non-impaired loans , we primarily utilize a delinquency roll-rate methodology for pools of loans .in accordance with accounting principles , under this methodology , we establish our allowance based upon incurred losses , not lifetime expected losses .the roll-rate methodology estimates transition/roll of loan balances from one delinquency state ( e.g. , 30-59 days past due ) to another delinquency state ( e.g. , 60-89 days past due ) and ultimately to charge-off .the roll through to charge-off is based on pnc 2019s actual loss experience for each type of pool .each of our home equity pools contains both first and second liens .our experience has been that the ratio of first to second lien loans has been consistent over time and the charge-off amounts for the pools , used to establish our allowance , include losses on both first and second liens loans .generally , our variable-rate home equity lines of credit have either a seven or ten year draw period , followed by a 20-year amortization term .during the draw period , we have home equity lines of credit where borrowers pay either interest or principal and interest .we view home equity lines of credit where borrowers are paying principal and interest under the draw period as less risky than those where the borrowers are paying interest only , as these borrowers have a demonstrated ability to make some level of principal and interest payments .the risk associated with the borrower 2019s ability to satisfy the loan terms upon the draw period ending is considered in establishing our alll .based upon outstanding balances at december 31 , 2014 , the following table presents the periods when home equity lines of credit draw periods are scheduled to end .table 36 : home equity lines of credit 2013 draw period end in millions interest only product principal and interest product .
[['in millions', 'interest onlyproduct', 'principal andinterest product'], ['2015', '$ 1597', '$ 541'], ['2016', '1366', '437'], ['2017', '2434', '596'], ['2018', '1072', '813'], ['2019 and thereafter', '3880', '5391'], ['total ( a ) ( b )', '$ 10349', '$ 7778']]
( a ) includes all home equity lines of credit that mature in 2015 or later , including those with borrowers where we have terminated borrowing privileges .( b ) includes approximately $ 154 million , $ 48 million , $ 57 million , $ 42 million and $ 564 million of home equity lines of credit with balloon payments , including those where we have terminated borrowing privileges , with draw periods scheduled to end in 2015 , 2016 , 2017 , 2018 and 2019 and thereafter , respectively .76 the pnc financial services group , inc .2013 form 10-k .
|
for total interest only home equity lines of credit , what percentage of the total includes home equity lines of credit with balloon payments , including those where we have terminated borrowing privileges , with draw periods scheduled to end in 2016?
|
0.005%
|
{
"answer": "0.005%",
"decimal": 0.00005,
"type": "percentage"
}
| |
system energy resources , inc .management 2019s financial discussion and analysis also in addition to the contractual obligations , system energy has $ 382.3 million of unrecognized tax benefits and interest net of unused tax attributes and payments for which the timing of payments beyond 12 months cannot be reasonably estimated due to uncertainties in the timing of effective settlement of tax positions .see note 3 to the financial statements for additional information regarding unrecognized tax benefits .in addition to routine spending to maintain operations , the planned capital investment estimate includes specific investments and initiatives such as the nuclear fleet operational excellence initiative , as discussed below in 201cnuclear matters , 201d and plant improvements .as a wholly-owned subsidiary , system energy dividends its earnings to entergy corporation at a percentage determined monthly .sources of capital system energy 2019s sources to meet its capital requirements include : 2022 internally generated funds ; 2022 cash on hand ; 2022 debt issuances ; and 2022 bank financing under new or existing facilities .system energy may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable .all debt and common stock issuances by system energy require prior regulatory approval .debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements .system energy has sufficient capacity under these tests to meet its foreseeable capital needs .system energy 2019s receivables from the money pool were as follows as of december 31 for each of the following years. .
[['2016', '2015', '2014', '2013'], ['( in thousands )', '( in thousands )', '( in thousands )', '( in thousands )'], ['$ 33809', '$ 39926', '$ 2373', '$ 9223']]
see note 4 to the financial statements for a description of the money pool .the system energy nuclear fuel company variable interest entity has a credit facility in the amount of $ 120 million scheduled to expire in may 2019 .as of december 31 , 2016 , $ 66.9 million in letters of credit were outstanding under the credit facility to support a like amount of commercial paper issued by the system energy nuclear fuel company variable interest entity .see note 4 to the financial statements for additional discussion of the variable interest entity credit facility .system energy obtained authorizations from the ferc through october 2017 for the following : 2022 short-term borrowings not to exceed an aggregate amount of $ 200 million at any time outstanding ; 2022 long-term borrowings and security issuances ; and 2022 long-term borrowings by its nuclear fuel company variable interest entity .see note 4 to the financial statements for further discussion of system energy 2019s short-term borrowing limits. .
|
what is the net change in system energy 2019s receivables from the money pool from 2014 to 2015?
|
37553
|
{
"answer": "37553",
"decimal": 37553,
"type": "float"
}
| |
$ 15 million for fire control programs due to increased deliveries ( primarily apache ) , partially offset by lower risk retirements ( primarily sniper ae ) .adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 95 million lower for 2014 compared to 2013 .backlog backlog increased in 2015 compared to 2014 primarily due to higher orders on pac-3 , lantirn/sniper and certain tactical missile programs , partially offset by lower orders on thaad .backlog decreased in 2014 compared to 2013 primarily due to lower orders on thaad and fire control systems programs , partially offset by higher orders on certain tactical missile programs and pac-3 .trends we expect mfc 2019s net sales to be flat or experience a slight decline in 2016 as compared to 2015 .operating profit is expected to decrease by approximately 20 percent , driven by contract mix and fewer risk retirements in 2016 compared to 2015 .accordingly , operating profit margin is expected to decline from 2015 levels .mission systems and training as previously described , on november 6 , 2015 , we acquired sikorsky and aligned the sikorsky business under our mst business segment .the results of the acquired sikorsky business have been included in our financial results from the november 6 , 2015 acquisition date through december 31 , 2015 .as a result , our consolidated operating results and mst business segment operating results for the year ended december 31 , 2015 do not reflect a full year of sikorsky operations .our mst business segment provides design , manufacture , service and support for a variety of military and civil helicopters , ship and submarine mission and combat systems ; mission systems and sensors for rotary and fixed-wing aircraft ; sea and land-based missile defense systems ; radar systems ; the littoral combat ship ( lcs ) ; simulation and training services ; and unmanned systems and technologies .in addition , mst supports the needs of customers in cybersecurity and delivers communication and command and control capabilities through complex mission solutions for defense applications .mst 2019s major programs include black hawk and seahawk helicopters , aegis combat system ( aegis ) , lcs , space fence , advanced hawkeye radar system , and tpq-53 radar system .mst 2019s operating results included the following ( in millions ) : .
[['', '2015', '2014', '2013'], ['net sales', '$ 9091', '$ 8732', '$ 9037'], ['operating profit', '844', '936', '1065'], ['operating margins', '9.3% ( 9.3 % )', '10.7% ( 10.7 % )', '11.8% ( 11.8 % )'], ['backlog at year-end', '$ 30100', '$ 13300', '$ 12600']]
2015 compared to 2014 mst 2019s net sales in 2015 increased $ 359 million , or 4% ( 4 % ) , compared to 2014 .the increase was attributable to net sales of approximately $ 400 million from sikorsky , net of adjustments required to account for the acquisition of this business in the fourth quarter of 2015 ; and approximately $ 220 million for integrated warfare systems and sensors programs , primarily due to the ramp-up of recently awarded programs ( space fence ) .these increases were partially offset by lower net sales of approximately $ 150 million for undersea systems programs due to decreased volume as a result of in-theater force reductions ( primarily persistent threat detection system ) ; and approximately $ 105 million for ship and aviation systems programs primarily due to decreased volume ( merlin capability sustainment program ) .mst 2019s operating profit in 2015 decreased $ 92 million , or 10% ( 10 % ) , compared to 2014 .operating profit decreased by approximately $ 75 million due to performance matters on an international program ; approximately $ 45 million for sikorsky due primarily to intangible amortization and adjustments required to account for the acquisition of this business in the fourth quarter of 2015 ; and approximately $ 15 million for integrated warfare systems and sensors programs , primarily due to investments made in connection with a recently awarded next generation radar technology program , partially offset by higher risk retirements ( including halifax class modernization ) .these decreases were partially offset by approximately $ 20 million in increased operating profit for training and logistics services programs , primarily due to reserves recorded on certain programs in 2014 that were not repeated in 2015 .adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 100 million lower in 2015 compared to 2014. .
|
what was the percent of the total decline in mst 2019s operating profit in 2015 associated with performance matters
|
81.5%
|
{
"answer": "81.5%",
"decimal": 0.815,
"type": "percentage"
}
| |
dispositions of depreciable real estate assets excluded from discontinued operations we recorded a gain on sale of depreciable assets excluded from discontinued operations of $ 190.0 million for the year ended december 31 , 2015 , an increase of approximately $ 147.3 million from the $ 42.6 million gain on sale of depreciable assets recorded for the year ended december 31 , 2014 .the increase was primarily the result of increased disposition activity .dispositions increased from eight multifamily properties for the year ended december 31 , 2014 , to 21 multifamily properties for the year ended december 31 , 2015 .gain from real estate joint ventures we recorded a gain from real estate joint ventures of $ 6.0 million during the year ended december 31 , 2014 as opposed to no material gain or loss being recorded during the year ended december 31 , 2015 .the decrease was primarily a result of recording a $ 3.4 million gain for the disposition of ansley village by mid-america multifamily fund ii , or fund ii , as well as a $ 2.8 million gain for the promote fee received from our fund ii partner during 2014 .the promote fee was received as a result of maa achieving certain performance metrics in its management of the fund ii properties over the life of the joint venture .there were no such gains recorded during the year ended december 31 , 2015 .discontinued operations we recorded a gain on sale of discontinued operations of $ 5.4 million for the year ended december 31 , 2014 .we did not record a gain or loss on sale of discontinued operations during the year ended december 31 , 2015 , due to the adoption of asu 2014-08 , reporting discontinued operations and disclosures of disposals of components of an entity , which resulted in dispositions being included in the gain on sale of depreciable real estate assets excluded from discontinued operations and is discussed further below .net income attributable to noncontrolling interests net income attributable to noncontrolling interests for the year ended december 31 , 2015 was approximately $ 18.5 million , an increase of $ 10.2 million from the year ended december 31 , 2014 .this increase is consistent with the increase to overall net income and is primarily a result of the items discussed above .net income attributable to maa primarily as a result of the items discussed above , net income attributable to maa increased by approximately $ 184.3 million in the year ended december 31 , 2015 from the year ended december 31 , 2014 .comparison of the year ended december 31 , 2014 to the year ended december 31 , 2013 the comparison of the year ended december 31 , 2014 to the year ended december 31 , 2013 shows the segment break down based on the 2014 same store portfolios .a comparison using the 2015 same store portfolio would not be comparative due to the nature of the classifications as a result of the merger .property revenues the following table shows our property revenues by segment for the years ended december 31 , 2014 and december 31 , 2013 ( dollars in thousands ) : year ended december 31 , 2014 year ended december 31 , 2013 increase percentage increase .
[['', 'year ended december 31 2014', 'year ended december 31 2013', 'increase', 'percentage increase'], ['large market same store', '$ 252029', '$ 241194', '$ 10835', '4.5% ( 4.5 % )'], ['secondary market same store', '246800', '242464', '4336', '1.8% ( 1.8 % )'], ['same store portfolio', '498829', '483658', '15171', '3.1% ( 3.1 % )'], ['non-same store and other', '493349', '151185', '342164', '226.3% ( 226.3 % )'], ['total', '$ 992178', '$ 634843', '$ 357335', '56.3% ( 56.3 % )']]
job title mid-america apartment 10-k revision 1 serial <12345678> date sunday , march 20 , 2016 job number 304352-1 type page no .51 operator abigaels .
|
what is the variation observed in the percentual increase of the same store portfolio and the non-same store revenue during 2013 and 2014?
|
223.2%
|
{
"answer": "223.2%",
"decimal": 2.2319999999999998,
"type": "percentage"
}
|
it is the difference between those percentages .
|
table 20 : pro forma transitional basel iii tier 1 common capital ratio dollars in millions december 31 .
[['dollars in millions', 'december 31 2013'], ['basel i tier 1 common capital', '$ 28484'], ['less phased-in regulatory capital adjustments:', ''], ['basel iii quantitative limits', '-228 ( 228 )'], ['accumulated other comprehensive income ( a )', '39'], ['other intangibles', '381'], ['all other adjustments', '210'], ['estimated basel iii transitional tier 1 common capital ( with 2014 phase-ins )', '$ 28886'], ['basel i risk-weighted assets calculated as applicable for 2014', '272321'], ['pro forma basel iii transitional tier 1 common capital ratio ( with 2014phase-ins )', '10.6% ( 10.6 % )']]
estimated basel iii transitional tier 1 common capital ( with 2014 phase-ins ) $ 28886 basel i risk-weighted assets calculated as applicable for 2014 272321 pro forma basel iii transitional tier 1 common capital ratio ( with 2014 phase-ins ) 10.6% ( 10.6 % ) ( a ) represents net adjustments related to accumulated other comprehensive income for available for sale securities and pension and other postretirement benefit plans .pnc utilizes these fully implemented and transitional basel iii capital ratios to assess its capital position , including comparison to similar estimates made by other financial institutions .these basel iii capital estimates are likely to be impacted by any additional regulatory guidance , continued analysis by pnc as to the application of the rules to pnc , and in the case of ratios calculated using the advanced approaches , the ongoing evolution , validation and regulatory approval of pnc 2019s models integral to the calculation of advanced approaches risk-weighted assets .the access to and cost of funding for new business initiatives , the ability to undertake new business initiatives including acquisitions , the ability to engage in expanded business activities , the ability to pay dividends or repurchase shares or other capital instruments , the level of deposit insurance costs , and the level and nature of regulatory oversight depend , in large part , on a financial institution 2019s capital strength .we provide additional information regarding enhanced capital requirements and some of their potential impacts on pnc in item 1 business 2013 supervision and regulation , item 1a risk factors and note 22 regulatory matters in the notes to consolidated financial statements in item 8 of this report .off-balance sheet arrangements and variable interest entities we engage in a variety of activities that involve unconsolidated entities or that are otherwise not reflected in our consolidated balance sheet that are generally referred to as 201coff-balance sheet arrangements . 201d additional information on these types of activities is included in the following sections of this report : 2022 commitments , including contractual obligations and other commitments , included within the risk management section of this item 7 , 2022 note 3 loan sale and servicing activities and variable interest entities in the notes to consolidated financial statements included in item 8 of this report , 2022 note 14 capital securities of subsidiary trusts and perpetual trust securities in the notes to consolidated financial statements included in item 8 of this report , and 2022 note 24 commitments and guarantees in the notes to consolidated financial statements included in item 8 of this report .pnc consolidates variable interest entities ( vies ) when we are deemed to be the primary beneficiary .the primary beneficiary of a vie is determined to be the party that meets both of the following criteria : ( i ) has the power to make decisions that most significantly affect the economic performance of the vie ; and ( ii ) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the vie .a summary of vies , including those that we have consolidated and those in which we hold variable interests but have not consolidated into our financial statements , as of december 31 , 2013 and december 31 , 2012 is included in note 3 in the notes to consolidated financial statements included in item 8 of this report .trust preferred securities and reit preferred securities we are subject to certain restrictions , including restrictions on dividend payments , in connection with $ 206 million in principal amount of an outstanding junior subordinated debenture associated with $ 200 million of trust preferred securities ( both amounts as of december 31 , 2013 ) that were issued by pnc capital trust c , a subsidiary statutory trust .generally , if there is ( i ) an event of default under the debenture , ( ii ) pnc elects to defer interest on the debenture , ( iii ) pnc exercises its right to defer payments on the related trust preferred security issued by the statutory trust , or ( iv ) there is a default under pnc 2019s guarantee of such payment obligations , as specified in the applicable governing documents , then pnc would be subject during the period of such default or deferral to restrictions on dividends and other provisions protecting the status of the debenture holders similar to or in some ways more restrictive than those potentially imposed under the exchange agreement with pnc preferred funding trust ii .see note 14 capital securities of subsidiary trusts and perpetual trust securities in the notes to consolidated financial statements in item 8 of this report for additional information on contractual limitations on dividend payments resulting from securities issued by pnc preferred funding trust i and pnc preferred funding trust ii .see the liquidity risk management portion of the risk management section of this item 7 for additional information regarding our first quarter 2013 redemption of the reit preferred securities issued by pnc preferred funding trust iii and additional discussion of redemptions of trust preferred securities .48 the pnc financial services group , inc .2013 form 10-k .
|
for 2013 , in millions , what was the total of other intangibles and all other adjustments?
|
591
|
{
"answer": "591",
"decimal": 591,
"type": "float"
}
| |
table of contents as of september 25 , 2010 , the carrying amount of the original notes and related equity component ( recorded in capital in excess of par value , net of deferred taxes ) consisted of the following: .
[['convertible notes principal amount', '$ 1725000'], ['unamortized discount', '-277947 ( 277947 )'], ['net carrying amount', '$ 1447053'], ['equity component net of taxes', '$ 283638']]
as noted above , on november 18 , 2010 , the company executed separate , privately-negotiated exchange agreements , and the company retired $ 450.0 million in aggregate principal of its original notes for $ 450.0 million in aggregate principal of exchange notes .the company accounted for this retirement under the derecognition provisions of subtopic asc 470-20-40 , which requires the allocation of the fair value of the consideration transferred ( i.e. , the exchange notes ) between the liability and equity components of the original instrument to determine the gain or loss on the transaction .in connection with this transaction , the company recorded a loss on extinguishment of debt of $ 29.9 million , which is comprised of the loss on the debt itself of $ 26.0 million and the write-off of the pro-rata amount of debt issuance costs of $ 3.9 million allocated to the notes retired .the loss on the debt itself is calculated as the difference between the fair value of the liability component of the original notes 2019 amount retired immediately before the exchange and its related carrying value immediately before the exchange .the fair value of the liability component was calculated similar to the description above for initially recording the original notes under fsp apb 14-1 , and the company used an effective interest rate of 5.46% ( 5.46 % ) , representing the estimated nonconvertible debt borrowing rate with a three year maturity at the measurement date .in addition , under this accounting standard , a portion of the fair value of the consideration transferred is allocated to the reacquisition of the equity component , which is the difference between the fair value of the consideration transferred and the fair value of the liability component immediately before the exchange .as a result , $ 39.9 million was allocated to the reacquisition of the equity component of the original instrument , which is recorded net of deferred taxes within capital in excess of par value .since the exchange notes have the same characteristics as the original notes and can be settled in cash or a combination of cash and shares of common stock ( i.e. , partial settlement ) , the company is required to account for the liability and equity components of its exchange notes separately to reflect its nonconvertible debt borrowing rate .the company estimated the fair value of the exchange notes liability component to be $ 349.0 million using a discounted cash flow technique .key inputs used to estimate the fair value of the liability component included the company 2019s estimated nonconvertible debt borrowing rate as of november 18 , 2010 ( the date the convertible notes were issued ) , the amount and timing of cash flows , and the expected life of the exchange notes .the company used an estimated effective interest rate of 6.52% ( 6.52 % ) .the excess of the fair value transferred over the estimated fair value of the liability component totaling $ 97.3 million was allocated to the conversion feature as an increase to capital in excess of par value with a corresponding offset recognized as a discount to reduce the net carrying value of the exchange notes .as a result of the fair value of the exchange notes being lower than the exchange notes principal value , there is an additional discount on the exchange notes of $ 3.7 million at the measurement date .the total discount is being amortized to interest expense over a six-year period ending december 15 , 2016 ( the expected life of the liability component ) using the effective interest method .in addition , third-party transaction costs have been allocated to the liability and equity components based on the relative values of these components .source : hologic inc , 10-k , november 23 , 2011 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely .the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law .past financial performance is no guarantee of future results. .
|
what is the total percentage of unamortized discount relative to the principal amount of notes?
|
16.1%
|
{
"answer": "16.1%",
"decimal": 0.161,
"type": "percentage"
}
| |
disclosure of , the issuance of certain types of guarantees .the adoption of fasb interpretation no .45 did not have a signif- icant impact on the net income or equity of the company .in january 2003 , fasb interpretation no .46 , 201cconsolidation of variable interest entities , an interpretation of arb 51 , 201d was issued .the primary objectives of this interpretation , as amended , are to provide guidance on the identification and consolidation of variable interest entities , or vies , which are entities for which control is achieved through means other than through voting rights .the company has completed an analysis of this interpretation and has determined that it does not have any vies .4 .acquisitions family health plan , inc .effective january 1 , 2004 , the company commenced opera- tions in ohio through the acquisition from family health plan , inc .of certain medicaid-related assets for a purchase price of approximately $ 6800 .the cost to acquire the medicaid-related assets will be allocated to the assets acquired and liabilities assumed according to estimated fair values .hmo blue texas effective august 1 , 2003 , the company acquired certain medicaid-related contract rights of hmo blue texas in the san antonio , texas market for $ 1045 .the purchase price was allocated to acquired contracts , which are being amor- tized on a straight-line basis over a period of five years , the expected period of benefit .group practice affiliates during 2003 , the company acquired a 100% ( 100 % ) ownership interest in group practice affiliates , llc , a behavioral healthcare services company ( 63.7% ( 63.7 % ) in march 2003 and 36.3% ( 36.3 % ) in august 2003 ) .the consolidated financial state- ments include the results of operations of gpa since march 1 , 2003 .the company paid $ 1800 for its purchase of gpa .the cost to acquire the ownership interest has been allocated to the assets acquired and liabilities assumed according to estimated fair values and is subject to adjustment when additional information concerning asset and liability valuations are finalized .the preliminary allocation has resulted in goodwill of approximately $ 3895 .the goodwill is not amortized and is not deductible for tax purposes .pro forma disclosures related to the acquisition have been excluded as immaterial .scriptassist in march 2003 , the company purchased contract and name rights of scriptassist , llc ( scriptassist ) , a medication com- pliance company .the purchase price of $ 563 was allocated to acquired contracts , which are being amortized on a straight-line basis over a period of five years , the expected period of benefit .the investor group who held membership interests in scriptassist included one of the company 2019s executive officers .university health plans , inc .on december 1 , 2002 , the company purchased 80% ( 80 % ) of the outstanding capital stock of university health plans , inc .( uhp ) in new jersey .in october 2003 , the company exercised its option to purchase the remaining 20% ( 20 % ) of the outstanding capital stock .centene paid a total purchase price of $ 13258 .the results of operations for uhp are included in the consolidated financial statements since december 1 , 2002 .the acquisition of uhp resulted in identified intangible assets of $ 3800 , representing purchased contract rights and provider network .the intangibles are being amortized over a ten-year period .goodwill of $ 7940 is not amortized and is not deductible for tax purposes .changes during 2003 to the preliminary purchase price allocation primarily consisted of the purchase of the remaining 20% ( 20 % ) of the outstanding stock and the recognition of intangible assets and related deferred tax liabilities .the following unaudited pro forma information presents the results of operations of centene and subsidiaries as if the uhp acquisition described above had occurred as of january 1 , 2001 .these pro forma results may not necessar- ily reflect the actual results of operations that would have been achieved , nor are they necessarily indicative of future results of operations. .
[['', '2002', '2001'], ['revenue', '$ 567048', '$ 395155'], ['net earnings', '25869', '11573'], ['diluted earnings per common share', '1.48', '1.00']]
diluted earnings per common share 1.48 1.00 texas universities health plan in june 2002 , the company purchased schip contracts in three texas service areas .the cash purchase price of $ 595 was recorded as purchased contract rights , which are being amortized on a straight-line basis over five years , the expected period of benefit .bankers reserve in march 2002 , the company acquired bankers reserve life insurance company of wisconsin for a cash purchase price of $ 3527 .the company allocated the purchase price to net tangible and identifiable intangible assets based on their fair value .centene allocated $ 479 to identifiable intangible assets , representing the value assigned to acquired licenses , which are being amortized on a straight-line basis over a notes to consolidated financial statements ( continued ) centene corporation and subsidiaries .
|
what was the percentage change in pro forma diluted earnings per common share from 2001 to 2002?
|
48%
|
{
"answer": "48%",
"decimal": 0.48,
"type": "percentage"
}
| |
the depreciable lives of production facilities within the merchant gases segment are principally 15 years .customer contracts associated with products produced at these types of facilities typically have a much shorter term .the depreciable lives of production facilities within the electronics and performance materials segment , where there is not an associated long-term supply agreement , range from 10 to 15 years .these depreciable lives have been determined based on historical experience combined with judgment on future assumptions such as technological advances , potential obsolescence , competitors 2019 actions , etc .management monitors its assumptions and may potentially need to adjust depreciable life as circumstances change .a change in the depreciable life by one year for production facilities within the merchant gases and electronics and performance materials segments for which there is not an associated long-term customer supply agreement would impact annual depreciation expense as summarized below : decrease life by 1 year increase life by 1 year .
[['', 'decrease lifeby 1 year', 'increase life by 1 year'], ['merchant gases', '$ 30', '$ -20 ( 20 )'], ['electronics and performance materials', '$ 16', '$ -10 ( 10 )']]
impairment of assets plant and equipment plant and equipment held for use is grouped for impairment testing at the lowest level for which there are identifiable cash flows .impairment testing of the asset group occurs whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable .such circumstances would include a significant decrease in the market value of a long-lived asset grouping , a significant adverse change in the manner in which the asset grouping is being used or in its physical condition , a history of operating or cash flow losses associated with the use of the asset grouping , or changes in the expected useful life of the long-lived assets .if such circumstances are determined to exist , an estimate of undiscounted future cash flows produced by that asset group is compared to the carrying value to determine whether impairment exists .if an asset group is determined to be impaired , the loss is measured based on the difference between the asset group 2019s fair value and its carrying value .an estimate of the asset group 2019s fair value is based on the discounted value of its estimated cash flows .assets to be disposed of by sale are reported at the lower of carrying amount or fair value less cost to sell .the assumptions underlying cash flow projections represent management 2019s best estimates at the time of the impairment review .factors that management must estimate include industry and market conditions , sales volume and prices , costs to produce , inflation , etc .changes in key assumptions or actual conditions that differ from estimates could result in an impairment charge .we use reasonable and supportable assumptions when performing impairment reviews and cannot predict the occurrence of future events and circumstances that could result in impairment charges .goodwill the acquisition method of accounting for business combinations currently requires us to make use of estimates and judgments to allocate the purchase price paid for acquisitions to the fair value of the net tangible and identifiable intangible assets .goodwill represents the excess of the aggregate purchase price over the fair value of net assets of an acquired entity .goodwill , including goodwill associated with equity affiliates of $ 126.4 , was $ 1780.2 as of 30 september 2013 .the majority of our goodwill is assigned to reporting units within the merchant gases and electronics and performance materials segments .goodwill increased in 2013 , primarily as a result of the epco and wcg acquisitions in merchant gases during the third quarter .disclosures related to goodwill are included in note 10 , goodwill , to the consolidated financial statements .we perform an impairment test annually in the fourth quarter of the fiscal year .in addition , goodwill would be tested more frequently if changes in circumstances or the occurrence of events indicated that potential impairment exists .the tests are done at the reporting unit level , which is defined as one level below the operating segment for which discrete financial information is available and whose operating results are reviewed by segment managers regularly .currently , we have four business segments and thirteen reporting units .reporting units are primarily based on products and geographic locations within each business segment .as part of the goodwill impairment testing , and as permitted under the accounting guidance , we have the option to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value .if we choose not to complete a qualitative assessment for a given reporting unit , or if the .
|
what is the depreciation expense with the production facilities within the electronics and performance materials segment accumulated in 10 years?
|
100
|
{
"answer": "100",
"decimal": 100,
"type": "float"
}
|
it is the number of years expected in its depreciable life multiplied by the increased life by a 1-year value .
|
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 total investments in 2012?
|
-3.6%
|
{
"answer": "-3.6%",
"decimal": -0.036000000000000004,
"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. .
|
between 2015 and 2013 what was the average compensation expense related to the issuing of the stock award in millions
|
40.3
|
{
"answer": "40.3",
"decimal": 40.3,
"type": "float"
}
|
the average is the sum of all amounts divide by the number of amounts
|
jpmorgan chase & co ./ 2008 annual report 211 jpmorgan chase is subject to ongoing tax examinations by the tax authorities of the various jurisdictions in which it operates , including u.s .federal and state and non-u.s .jurisdictions .the firm 2019s consoli- dated federal income tax returns are presently under examination by the internal revenue service ( 201cirs 201d ) for the years 2003 , 2004 and 2005 .the consolidated federal income tax returns of bank one corporation , which merged with and into jpmorgan chase on july 1 , 2004 , are under examination for the years 2000 through 2003 , and for the period january 1 , 2004 , through july 1 , 2004 .the consolidat- ed federal income tax returns of bear stearns for the years ended november 30 , 2003 , 2004 and 2005 , are also under examination .all three examinations are expected to conclude in 2009 .the irs audits of the consolidated federal income tax returns of jpmorgan chase for the years 2006 and 2007 , and for bear stearns for the years ended november 30 , 2006 and 2007 , are expected to commence in 2009 .administrative appeals are pending with the irs relating to prior examination periods .for 2002 and prior years , refund claims relating to income and credit adjustments , and to tax attribute carry- backs , for jpmorgan chase and its predecessor entities , including bank one , have been filed .amended returns to reflect refund claims primarily attributable to net operating losses and tax credit carry- backs will be filed for the final bear stearns federal consolidated tax return for the period december 1 , 2007 , through may 30 , 2008 , and for prior years .the following table presents the u.s .and non-u.s .components of income from continuing operations before income tax expense ( benefit ) . .
[['year ended december 31 ( in millions )', '2008', '2007', '2006'], ['u.s .', '$ -2094 ( 2094 )', '$ 13720', '$ 12934'], ['non-u.s. ( a )', '4867', '9085', '6952'], ['income from continuing operationsbefore income taxexpense ( benefit )', '$ 2773', '$ 22805', '$ 19886']]
non-u.s. ( a ) 4867 9085 6952 income from continuing operations before income tax expense ( benefit ) $ 2773 $ 22805 $ 19886 ( a ) for purposes of this table , non-u.s .income is defined as income generated from operations located outside the u.s .note 29 2013 restrictions on cash and intercom- pany funds transfers the business of jpmorgan chase bank , national association ( 201cjpmorgan chase bank , n.a . 201d ) is subject to examination and regula- tion by the office of the comptroller of the currency ( 201cocc 201d ) .the bank is a member of the u.s .federal reserve system , and its deposits are insured by the fdic as discussed in note 20 on page 202 of this annual report .the board of governors of the federal reserve system ( the 201cfederal reserve 201d ) requires depository institutions to maintain cash reserves with a federal reserve bank .the average amount of reserve bal- ances deposited by the firm 2019s bank subsidiaries with various federal reserve banks was approximately $ 1.6 billion in 2008 and 2007 .restrictions imposed by u.s .federal law prohibit jpmorgan chase and certain of its affiliates from borrowing from banking subsidiaries unless the loans are secured in specified amounts .such secured loans to the firm or to other affiliates are generally limited to 10% ( 10 % ) of the banking subsidiary 2019s total capital , as determined by the risk- based capital guidelines ; the aggregate amount of all such loans is limited to 20% ( 20 % ) of the banking subsidiary 2019s total capital .the principal sources of jpmorgan chase 2019s income ( on a parent com- pany 2013only basis ) are dividends and interest from jpmorgan chase bank , n.a. , and the other banking and nonbanking subsidiaries of jpmorgan chase .in addition to dividend restrictions set forth in statutes and regulations , the federal reserve , the occ and the fdic have authority under the financial institutions supervisory act to pro- hibit or to limit the payment of dividends by the banking organizations they supervise , including jpmorgan chase and its subsidiaries that are banks or bank holding companies , if , in the banking regulator 2019s opin- ion , payment of a dividend would constitute an unsafe or unsound practice in light of the financial condition of the banking organization .at january 1 , 2009 and 2008 , jpmorgan chase 2019s banking sub- sidiaries could pay , in the aggregate , $ 17.0 billion and $ 16.2 billion , respectively , in dividends to their respective bank holding companies without the prior approval of their relevant banking regulators .the capacity to pay dividends in 2009 will be supplemented by the bank- ing subsidiaries 2019 earnings during the year .in compliance with rules and regulations established by u.s .and non-u.s .regulators , as of december 31 , 2008 and 2007 , cash in the amount of $ 20.8 billion and $ 16.0 billion , respectively , and securities with a fair value of $ 12.1 billion and $ 3.4 billion , respectively , were segregated in special bank accounts for the benefit of securities and futures brokerage customers. .
|
without foreign operations in 2008 , what would the pre-tax income from continuing operations be?
|
-2094000000
|
{
"answer": "-2094000000",
"decimal": -2094000000,
"type": "float"
}
| |
united parcel service , inc .and subsidiaries notes to consolidated financial statements 2014 ( continued ) a discount rate is used to determine the present value of our future benefit obligations .in 2008 and prior years , the discount rate for u.s .plans was determined by matching the expected cash flows to a yield curve based on long-term , high quality fixed income debt instruments available as of the measurement date .in 2008 , we reduced the population of bonds from which the yield curve was developed to better reflect bonds we would more likely consider to settle our obligations .in 2009 , we further enhanced this process for plans in the u.s .by using a bond matching approach to select specific bonds that would satisfy our projected benefit payments .we believe the bond matching approach more closely reflects the process we would employ to settle our pension and postretirement benefit obligations .these modifications had an impact of increasing the pension benefits and postretirement medical benefits discount rate on average 31 and 51 basis points for 2009 and 25 and 17 basis points for 2008 .for 2009 , each basis point increase in the discount rate decreases the projected benefit obligation by approximately $ 25 million and $ 3 million for pension and postretirement medical benefits , respectively .for our international plans , the discount rate is selected based on high quality fixed income indices available in the country in which the plan is domiciled .these assumptions are updated annually .an assumption for expected return on plan assets is used to determine a component of net periodic benefit cost for the fiscal year .this assumption for our u.s .plans was developed using a long-term projection of returns for each asset class , and taking into consideration our target asset allocation .the expected return for each asset class is a function of passive , long-term capital market assumptions and excess returns generated from active management .the capital market assumptions used are provided by independent investment advisors , while excess return assumptions are supported by historical performance , fund mandates and investment expectations .in addition , we compare the expected return on asset assumption with the average historical rate of return these plans have been able to generate .for the ups retirement plan , we use a market-related valuation method for recognizing investment gains or losses .investment gains or losses are the difference between the expected and actual return based on the market- related value of assets .this method recognizes investment gains or losses over a five year period from the year in which they occur , which reduces year-to-year volatility in pension expense .our expense in future periods will be impacted as gains or losses are recognized in the market-related value of assets .for plans outside the u.s. , consideration is given to local market expectations of long-term returns .strategic asset allocations are determined by country , based on the nature of liabilities and considering the demographic composition of the plan participants .health care cost trends are used to project future postretirement benefits payable from our plans .for year-end 2009 u.s .plan obligations , future postretirement medical benefit costs were forecasted assuming an initial annual increase of 8.0% ( 8.0 % ) , decreasing to 5.0% ( 5.0 % ) by the year 2016 and with consistent annual increases at those ultimate levels thereafter .assumed health care cost trends have a significant effect on the amounts reported for the u.s .postretirement medical plans .a one-percent change in assumed health care cost trend rates would have the following effects ( in millions ) : .
[['', '1% ( 1 % ) increase', '1% ( 1 % ) decrease'], ['effect on total of service cost and interest cost', '$ 10', '$ -10 ( 10 )'], ['effect on postretirement benefit obligation', '$ 83', '$ -87 ( 87 )']]
.
|
what is the current postretirement benefit obligation?
|
8300
|
{
"answer": "8300",
"decimal": 8300,
"type": "float"
}
| |
the target awards for the other named executive officers were set as follows : joseph f .domino , ceo - entergy texas ( 50% ( 50 % ) ) ; hugh t .mcdonald , ceo - entergy arkansas ( 50% ( 50 % ) ) ; haley fisackerly , ceo - entergy mississippi ( 40% ( 40 % ) ) ; william m .mohl ( 60% ( 60 % ) ) , ceo - entergy gulf states and entergy louisiana ; charles l .rice , jr .( 40% ( 40 % ) ) , ceo - entergy new orleans and theodore h .bunting , jr .- principal accounting officer - the subsidiaries ( 60% ( 60 % ) ) .the target awards for the named executive officers ( other than entergy named executive officers ) were set by their respective supervisors ( subject to ultimate approval of entergy 2019s chief executive officer ) who allocated a potential incentive pool established by the personnel committee among various of their direct and indirect reports .in setting the target awards , the supervisor took into account considerations similar to those used by the personnel committee in setting the target awards for entergy 2019s named executive officers .target awards are set based on an executive officer 2019s current position and executive management level within the entergy organization .executive management levels at entergy range from level 1 thorough level 4 .mr .denault and mr .taylor hold positions in level 2 whereas mr .bunting and mr .mohl hold positions in level 3 and mr .domino , mr .fisackerly , mr .mcdonald and mr .rice hold positions in level 4 .accordingly , their respective incentive targets differ one from another based on the external market data developed by the committee 2019s independent compensation consultant and the other factors noted above .in december 2010 , the committee determined the executive incentive plan targets to be used for purposes of establishing annual bonuses for 2011 .the committee 2019s determination of the target levels was made after full board review of management 2019s 2011 financial plan for entergy corporation , upon recommendation of the finance committee , and after the committee 2019s determination that the established targets aligned with entergy corporation 2019s anticipated 2011 financial performance as reflected in the financial plan .the targets established to measure management performance against as reported results were: .
[['', 'minimum', 'target', 'maximum'], ['earnings per share ( $ )', '$ 6.10', '$ 6.60', '$ 7.10'], ['operating cash flow ( $ in billions )', '$ 2.97', '$ 3.35', '$ 3.70']]
operating cash flow ( $ in billions ) in january 2012 , after reviewing earnings per share and operating cash flow results against the performance objectives in the above table , the committee determined that entergy corporation had exceeded as reported earnings per share target of $ 6.60 by $ 0.95 in 2011 while falling short of the operating cash flow goal of $ 3.35 billion by $ 221 million in 2011 .in accordance with the terms of the annual incentive plan , in january 2012 , the personnel committee certified the 2012 entergy achievement multiplier at 128% ( 128 % ) of target .under the terms of the management effectiveness program , the entergy achievement multiplier is automatically increased by 25 percent for the members of the office of the chief executive if the pre- established underlying performance goals established by the personnel committee are satisfied at the end of the performance period , subject to the personnel committee's discretion to adjust the automatic multiplier downward or eliminate it altogether .in accordance with section 162 ( m ) of the internal revenue code , the multiplier which entergy refers to as the management effectiveness factor is intended to provide the committee a mechanism to take into consideration specific achievement factors relating to the overall performance of entergy corporation .in january 2012 , the committee eliminated the management effectiveness factor with respect to the 2011 incentive awards , reflecting the personnel committee's determination that the entergy achievement multiplier , in and of itself without the management effectiveness factor , was consistent with the performance levels achieved by management .the annual incentive awards for the named executive officers ( other than mr .leonard , mr .denault and mr .taylor ) are awarded from an incentive pool approved by the committee .from this pool , each named executive officer 2019s supervisor determines the annual incentive payment based on the entergy achievement multiplier .the supervisor has the discretion to increase or decrease the multiple used to determine an incentive award based on individual and business unit performance .the incentive awards are subject to the ultimate approval of entergy 2019s chief executive officer. .
|
what was the percent by which entergy corporation exceeded the reported earnings per share target in 2011
|
14.4%
|
{
"answer": "14.4%",
"decimal": 0.14400000000000002,
"type": "percentage"
}
| |
97% ( 97 % ) of its carrying value .the columbia fund is being liquidated with distributions to us occurring and expected to be fully liquidated during calendar 2008 .since december 2007 , we have received disbursements of approximately $ 20.7 million from the columbia fund .our operating activities during the year ended march 31 , 2008 used cash of $ 28.9 million as compared to $ 19.8 million during the same period in the prior year .our fiscal 2008 net loss of $ 40.9 million was the primary cause of our cash use from operations , attributed to increased investments in our global distribution as we continue to drive initiatives to increase recovery awareness as well as our investments in research and development to broaden our circulatory care product portfolio .in addition , our inventories used cash of $ 11.1 million during fiscal 2008 , reflecting our inventory build-up to support anticipated increases in global demand for our products and our accounts receivable also increased as a result of higher sales volume resulting in a use of cash of $ 2.8 million in fiscal 2008 .these decreases in cash were partially offset by an increase in accounts payable and accrued expenses of $ 5.6 million , non-cash adjustments of $ 5.4 million related to stock-based compensation expense , $ 6.1 million of depreciation and amortization and $ 5.0 million for the change in fair value of worldheart note receivable and warrant .our investing activities during the year ended march 31 , 2008 used cash of $ 40.9 million as compared to cash provided by investing activities of $ 15.1 million during the year ended march 31 , 2007 .cash used by investment activities for fiscal 2008 consisted primarily of $ 49.3 million for the recharacterization of the columbia fund to short-term marketable securities , $ 17.1 million for the purchase of short-term marketable securities , $ 3.8 million related to expenditures for property and equipment and $ 5.0 million for note receivable advanced to worldheart .these amounts were offset by $ 34.5 million of proceeds from short-term marketable securities .in june 2008 , we received 510 ( k ) clearance of our impella 2.5 , triggering an obligation to pay $ 5.6 million of contingent payments in accordance with the may 2005 acquisition of impella .these contingent payments may be made , at our option , with cash , or stock or by a combination of cash or stock under circumstances described in the purchase agreement .it is our intent to satisfy this contingent payment through the issuance of shares of our common stock .our financing activities during the year ended march 31 , 2008 provided cash of $ 2.1 million as compared to cash provided by financing activities of $ 66.6 million during the same period in the prior year .cash provided by financing activities for fiscal 2008 is comprised primarily of $ 2.8 million attributable to the exercise of stock options , $ 0.9 million related to the proceeds from the issuance of common stock , $ 0.3 million related to proceeds from the employee stock purchase plan , partially offset by $ 1.9 million related to the repurchase of warrants .the $ 64.5 million decrease compared to the prior year is primarily due to $ 63.6 million raised from the public offering in fiscal 2007 .we disbursed approximately $ 2.2 million of cash for the warrant repurchase and settlement of certain litigation .capital expenditures for fiscal 2009 are estimated to be approximately $ 3.0 to $ 6.0 million .contractual obligations and commercial commitments the following table summarizes our contractual obligations at march 31 , 2008 and the effects such obligations are expected to have on our liquidity and cash flows in future periods .payments due by fiscal year ( in $ 000 2019s ) contractual obligations total than 1 than 5 .
[['contractual obligations', 'payments due by fiscal year ( in $ 000 2019s ) total', 'payments due by fiscal year ( in $ 000 2019s ) less than 1 year', 'payments due by fiscal year ( in $ 000 2019s ) 1-3 years', 'payments due by fiscal year ( in $ 000 2019s ) 3-5 years', 'payments due by fiscal year ( in $ 000 2019s ) more than 5 years'], ['operating lease commitments', '$ 7754', '$ 2544', '$ 3507', '$ 1703', '$ 2014'], ['contractual obligations', '9309', '7473', '1836', '2014', '2014'], ['total obligations', '$ 17063', '$ 10017', '$ 5343', '$ 1703', '$ 2014']]
we have no long-term debt , capital leases or other material commitments , for open purchase orders and clinical trial agreements at march 31 , 2008 other than those shown in the table above .in may 2005 , we acquired all the shares of outstanding capital stock of impella cardiosystems ag , a company headquartered in aachen , germany .the aggregate purchase price excluding a contingent payment in the amount of $ 5.6 million made on january 30 , 2007 in the form of common stock , was approximately $ 45.1 million , which consisted of $ 42.2 million of our common stock , $ 1.6 million of cash paid to certain former shareholders of impella and $ 1.3 million of transaction costs , consisting primarily of fees paid for financial advisory and legal services .we may make additional contingent payments to impella 2019s former shareholders based on additional milestone payments related to fda approvals in the amount of up to $ 11.2 million .in june 2008 we received 510 ( k ) clearance of our impella 2.5 , triggering an obligation to pay $ 5.6 million of contingent payments .these contingent payments may be made , at our option , with cash , or stock or by a combination of cash or stock under circumstances described in the purchase agreement , except that approximately $ 1.8 million of these contingent payments must be made in cash .the payment of any contingent payments will result in an increase to the carrying value of goodwill .we apply the disclosure provisions of fin no .45 , guarantor 2019s accounting and disclosure requirements for guarantees , including guarantees of indebtedness of others , and interpretation of fasb statements no .5 , 57 and 107 and rescission of fasb interpretation .
|
assuming the same level of cash from financing activities in 2009 as during the year ended march 31 , 2008 , would this be sufficient to cover the project capital expenditures for fiscal 2009?
|
no
|
{
"answer": "no",
"decimal": null,
"type": "bool"
}
| |
factory stores we extend our reach to additional consumer groups through our 259 factory stores worldwide , which are principally located in major outlet centers .during fiscal 2015 , we added 30 new factory stores and closed six factory stores .we operated the following factory stores as of march 28 , 2015: .
[['location', 'factory stores'], ['the americas ( a )', '165'], ['europe', '54'], ['asia ( b )', '40'], ['total', '259']]
( a ) includes the u.s .and canada .( b ) includes australia .our worldwide factory stores offer selections of our apparel , accessories , and fragrances .in addition to these product offerings , certain of our factory stores in the americas offer home furnishings .our factory stores range in size from approximately 800 to 26700 square feet .factory stores obtain products from our suppliers , our product licensing partners , and our other retail stores and e-commerce operations , and also serve as a secondary distribution channel for our excess and out-of-season products .concession-based shop-within-shops the terms of trade for shop-within-shops are largely conducted on a concession basis , whereby inventory continues to be owned by us ( not the department store ) until ultimate sale to the end consumer .the salespeople involved in the sales transactions are generally our employees and not those of the department store .as of march 28 , 2015 , we had 536 concession-based shop-within-shops at 236 retail locations dedicated to our products , which were located in asia , australia , new zealand , and europe .the size of our concession-based shop-within-shops ranges from approximately 200 to 6000 square feet .we may share in the cost of building out certain of these shop-within-shops with our department store partners .e-commerce websites in addition to our stores , our retail segment sells products online through our e-commerce channel , which includes : 2022 our north american e-commerce sites located at www.ralphlauren.com and www.clubmonaco.com , as well as our club monaco site in canada located at www.clubmonaco.ca ; 2022 our ralph lauren e-commerce sites in europe , including www.ralphlauren.co.uk ( servicing the united kingdom ) , www.ralphlauren.fr ( servicing belgium , france , italy , luxembourg , the netherlands , portugal , and spain ) , and www.ralphlauren.de ( recently expanded to service denmark , estonia , finland , latvia , slovakia , and sweden , in addition to servicing austria and germany ) ; and 2022 our ralph lauren e-commerce sites in asia , including www.ralphlauren.co.jp ( servicing japan ) , www.ralphlauren.co.kr ( servicing south korea ) , www.ralphlauren.asia ( servicing hong kong , macau , malaysia , and singapore ) , and www.ralphlauren.com.au ( servicing australia and new zealand ) .our ralph lauren e-commerce sites in the u.s. , europe , and asia offer our customers access to a broad array of ralph lauren , double rl , polo , and denim & supply apparel , accessories , fragrance , and home products , and reinforce the luxury image of our brands .while investing in e-commerce operations remains a primary focus , it is an extension of our investment in the integrated omni-channel strategy used to operate our overall retail business , in which our e-commerce operations are interdependent with our physical stores .our club monaco e-commerce sites in the u.s .and canada offer our domestic and canadian customers access to our global assortment of club monaco apparel and accessories product lines , as well as select online exclusives. .
|
what percentage of factory stores as of march 28 , 2015 where located in asia?
|
15%
|
{
"answer": "15%",
"decimal": 0.15,
"type": "percentage"
}
| |
part ii item 5 2013 market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities ( a ) ( 1 ) our common stock is listed on the new york stock exchange and is traded under the symbol 201cpnc . 201d at the close of business on february 15 , 2013 , there were 75100 common shareholders of record .holders of pnc common stock are entitled to receive dividends when declared by the board of directors out of funds legally available for this purpose .our board of directors may not pay or set apart dividends on the common stock until dividends for all past dividend periods on any series of outstanding preferred stock have been paid or declared and set apart for payment .the board presently intends to continue the policy of paying quarterly cash dividends .the amount of any future dividends will depend on economic and market conditions , our financial condition and operating results , and other factors , including contractual restrictions and applicable government regulations and policies ( such as those relating to the ability of bank and non- bank subsidiaries to pay dividends to the parent company and regulatory capital limitations ) .the amount of our dividend is also currently subject to the results of the federal reserve 2019s 2013 comprehensive capital analysis and review ( ccar ) as part of its supervisory assessment of capital adequacy described under 201csupervision and regulation 201d in item 1 of this report .the federal reserve has the power to prohibit us from paying dividends without its approval .for further information concerning dividend restrictions and restrictions on loans , dividends or advances from bank subsidiaries to the parent company , see 201csupervision and regulation 201d in item 1 of this report , 201cfunding and capital sources 201d in the consolidated balance sheet review section , 201cliquidity risk management 201d in the risk management section , and 201ctrust preferred securities 201d in the off-balance sheet arrangements and variable interest entities section of item 7 of this report , and note 14 capital securities of subsidiary trusts and perpetual trust securities and note 22 regulatory matters in the notes to consolidated financial statements in item 8 of this report , which we include here by reference .we include here by reference additional information relating to pnc common stock under the caption 201ccommon stock prices/dividends declared 201d in the statistical information ( unaudited ) section of item 8 of this report .we include here by reference the information regarding our compensation plans under which pnc equity securities are authorized for issuance as of december 31 , 2012 in the table ( with introductory paragraph and notes ) that appears in item 12 of this report .our registrar , stock transfer agent , and dividend disbursing agent is : computershare trust company , n.a .250 royall street canton , ma 02021 800-982-7652 we include here by reference the information that appears under the caption 201ccommon stock performance graph 201d at the end of this item 5 .( a ) ( 2 ) none .( b ) not applicable .( c ) details of our repurchases of pnc common stock during the fourth quarter of 2012 are included in the following table : in thousands , except per share data 2012 period ( a ) total shares purchased ( b ) average paid per total shares purchased as part of publicly announced programs ( c ) maximum number of shares that may yet be purchased under the programs ( c ) .
[['2012 period ( a )', 'total sharespurchased ( b )', 'averagepricepaid pershare', 'total sharespurchased aspartofpubliclyannouncedprograms ( c )', 'maximumnumber ofshares thatmay yet bepurchasedundertheprograms ( c )'], ['october 1 2013 31', '13', '$ 60.05', '', '22552'], ['november 1 2013 30', '750', '$ 55.08', '750', '21802'], ['december 1 2013 31', '292', '$ 55.74', '251', '21551'], ['total', '1055', '$ 55.32', '1001', '']]
( a ) in addition to the repurchases of pnc common stock during the fourth quarter of 2012 included in the table above , pnc redeemed all 5001 shares of its series m preferred stock on december 10 , 2012 as further described below .as part of the national city transaction , we established the pnc non-cumulative perpetual preferred stock , series m ( the 201cseries m preferred stock 201d ) , which mirrored in all material respects the former national city non-cumulative perpetual preferred stock , series e .on december 10 , 2012 , pnc issued $ 500.1 million aggregate liquidation amount ( 5001 shares ) of the series m preferred stock to the national city preferred capital trust i ( the 201ctrust 201d ) as required pursuant to the settlement of a stock purchase contract agreement between the trust and pnc dated as of january 30 , 2008 .immediately upon such issuance , pnc redeemed all 5001 shares of the series m preferred stock from the trust on december 10 , 2012 at a redemption price equal to $ 100000 per share .( b ) includes pnc common stock purchased under the program referred to in note ( c ) to this table and pnc common stock purchased in connection with our various employee benefit plans .note 15 employee benefit plans and note 16 stock based compensation plans in the notes to consolidated financial statements in item 8 of this report include additional information regarding our employee benefit plans that use pnc common stock .( c ) our current stock repurchase program allows us to purchase up to 25 million shares on the open market or in privately negotiated transactions .this program was authorized on october 4 , 2007 and will remain in effect until fully utilized or until modified , superseded or terminated .the extent and timing of share repurchases under this program will depend on a number of factors including , among others , market and general economic conditions , economic capital and regulatory capital considerations , alternative uses of capital , the potential impact on our credit ratings , and contractual and regulatory limitations , including the impact of the federal reserve 2019s supervisory assessment of capital adequacy program .the pnc financial services group , inc .2013 form 10-k 27 .
|
in addition to the repurchases of pnc common stock during the fourth quarter of 2012 , what were total number of shares repurchased including shares of series m preferred stock redeemed on december 10 , 2012?
|
6056
|
{
"answer": "6056",
"decimal": 6056,
"type": "float"
}
| |
other taxes decreased in 2001 because its utility operations in virginia became subject to state income taxes in lieu of gross receipts taxes effective january 2001 .in addition , dominion recognized higher effective rates for foreign earnings and higher pretax income in relation to non-conventional fuel tax credits realized .dominion energy 2002 2001 2000 ( millions , except per share amounts ) .
[['( millions except pershare amounts )', '2002', '2001', '2000'], ['operating revenue', '$ 5940', '$ 6144', '$ 4894'], ['operating expenses', '4520', '4749', '3939'], ['net income contribution', '770', '723', '489'], ['earnings per share contribution', '$ 2.72', '$ 2.86', '$ 2.07'], ['electricity supplied* ( million mwhrs )', '101', '95', '83'], ['gas transmission throughput ( bcf )', '597', '553', '567']]
* amounts presented are for electricity supplied by utility and merchant generation operations .operating results 2014 2002 dominion energy contributed $ 2.72 per diluted share on net income of $ 770 million for 2002 , a net income increase of $ 47 million and an earnings per share decrease of $ 0.14 over 2001 .net income for 2002 reflected lower operating revenue ( $ 204 million ) , operating expenses ( $ 229 million ) and other income ( $ 27 million ) .interest expense and income taxes , which are discussed on a consolidated basis , decreased $ 50 million over 2001 .the earnings per share decrease reflected share dilution .regulated electric sales revenue increased $ 179 million .favorable weather conditions , reflecting increased cooling and heating degree-days , as well as customer growth , are estimated to have contributed $ 133 million and $ 41 million , respectively .fuel rate recoveries increased approximately $ 65 million for 2002 .these recoveries are generally offset by increases in elec- tric fuel expense and do not materially affect income .partially offsetting these increases was a net decrease of $ 60 million due to other factors not separately measurable , such as the impact of economic conditions on customer usage , as well as variations in seasonal rate premiums and discounts .nonregulated electric sales revenue increased $ 9 million .sales revenue from dominion 2019s merchant generation fleet decreased $ 21 million , reflecting a $ 201 million decline due to lower prices partially offset by sales from assets acquired and constructed in 2002 and the inclusion of millstone operations for all of 2002 .revenue from the wholesale marketing of utility generation decreased $ 74 million .due to the higher demand of utility service territory customers during 2002 , less production from utility plant generation was available for profitable sale in the wholesale market .revenue from retail energy sales increased $ 71 million , reflecting primarily customer growth over the prior year .net revenue from dominion 2019s electric trading activities increased $ 33 million , reflecting the effect of favorable price changes on unsettled contracts and higher trading margins .nonregulated gas sales revenue decreased $ 351 million .the decrease included a $ 239 million decrease in sales by dominion 2019s field services and retail energy marketing opera- tions , reflecting to a large extent declining prices .revenue associated with gas trading operations , net of related cost of sales , decreased $ 112 million .the decrease included $ 70 mil- lion of realized and unrealized losses on the economic hedges of natural gas production by the dominion exploration & pro- duction segment .as described below under selected information 2014 energy trading activities , sales of natural gas by the dominion exploration & production segment at market prices offset these financial losses , resulting in a range of prices contemplated by dominion 2019s overall risk management strategy .the remaining $ 42 million decrease was due to unfavorable price changes on unsettled contracts and lower overall trading margins .those losses were partially offset by contributions from higher trading volumes in gas and oil markets .gas transportation and storage revenue decreased $ 44 million , primarily reflecting lower rates .electric fuel and energy purchases expense increased $ 94 million which included an increase of $ 66 million associated with dominion 2019s energy marketing operations that are not sub- ject to cost-based rate regulation and an increase of $ 28 million associated with utility operations .substantially all of the increase associated with non-regulated energy marketing opera- tions related to higher volumes purchased during the year .for utility operations , energy costs increased $ 66 million for pur- chases subject to rate recovery , partially offset by a $ 38 million decrease in fuel expenses associated with lower wholesale mar- keting of utility plant generation .purchased gas expense decreased $ 245 million associated with dominion 2019s field services and retail energy marketing oper- ations .this decrease reflected approximately $ 162 million asso- ciated with declining prices and $ 83 million associated with lower purchased volumes .liquids , pipeline capacity and other purchases decreased $ 64 million , primarily reflecting comparably lower levels of rate recoveries of certain costs of transmission operations in the cur- rent year period .the difference between actual expenses and amounts recovered in the period are deferred pending future rate adjustments .other operations and maintenance expense decreased $ 14 million , primarily reflecting an $ 18 million decrease in outage costs due to fewer generation unit outages in the current year .depreciation expense decreased $ 11 million , reflecting decreases in depreciation associated with changes in the esti- mated useful lives of certain electric generation property , par- tially offset by increased depreciation associated with state line and millstone operations .other income decreased $ 27 million , including a $ 14 mil- lion decrease in net realized investment gains in the millstone 37d o m i n i o n 2019 0 2 a n n u a l r e p o r t .
|
if the 2003 growth rate is the same as 2002 , what would 2003 gas transmission throughput be in bcf?\\n
|
645
|
{
"answer": "645",
"decimal": 645,
"type": "float"
}
| |
the portion of compensation expense associated with certain long-term incentive plans ( 201cltip 201d ) funded or to be funded through share distributions to participants of blackrock stock held by pnc and a merrill lynch & co. , inc .( 201cmerrill lynch 201d ) cash compensation contribution , has been excluded because it ultimately does not impact blackrock 2019s book value .the expense related to the merrill lynch cash compensation contribution ceased at the end of third quarter 2011 .as of first quarter 2012 , all of the merrill lynch contributions had been received .compensation expense associated with appreciation ( depreciation ) on investments related to certain blackrock deferred compensation plans has been excluded as returns on investments set aside for these plans , which substantially offset this expense , are reported in non-operating income ( expense ) .management believes operating income exclusive of these items is a useful measure in evaluating blackrock 2019s operating performance and helps enhance the comparability of this information for the reporting periods presented .operating margin , as adjusted : operating income used for measuring operating margin , as adjusted , is equal to operating income , as adjusted , excluding the impact of closed-end fund launch costs and commissions .management believes the exclusion of such costs and commissions is useful because these costs can fluctuate considerably and revenues associated with the expenditure of these costs will not fully impact the company 2019s results until future periods .operating margin , as adjusted , allows the company to compare performance from period-to-period by adjusting for items that may not recur , recur infrequently or may have an economic offset in non-operating income ( expense ) .examples of such adjustments include bgi transaction and integration costs , u.k .lease exit costs , contribution to stifs , restructuring charges , closed-end fund launch costs , commissions paid to certain employees as compensation and fluctuations in compensation expense based on mark-to-market movements in investments held to fund certain compensation plans .the company also uses operating margin , as adjusted , to monitor corporate performance and efficiency and as a benchmark to compare its performance with other companies .management uses both the gaap and non- gaap financial measures in evaluating the financial performance of blackrock .the non-gaap measure by itself may pose limitations because it does not include all of the company 2019s revenues and expenses .revenue used for operating margin , as adjusted , excludes distribution and servicing costs paid to related parties and other third parties .management believes the exclusion of such costs is useful because it creates consistency in the treatment for certain contracts for similar services , which due to the terms of the contracts , are accounted for under gaap on a net basis within investment advisory , administration fees and securities lending revenue .amortization of deferred sales commissions is excluded from revenue used for operating margin measurement , as adjusted , because such costs , over time , substantially offset distribution fee revenue earned by the company .for each of these items , blackrock excludes from revenue used for operating margin , as adjusted , the costs related to each of these items as a proxy for such offsetting revenues .( b ) non-operating income ( expense ) , less net income ( loss ) attributable to non-controlling interests , as adjusted : non-operating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , is presented below .the compensation expense offset is recorded in operating income .this compensation expense has been included in non-operating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , to offset returns on investments set aside for these plans , which are reported in non-operating income ( expense ) , gaap basis .( dollar amounts in millions ) 2012 2011 2010 non-operating income ( expense ) , gaap basis .............................$ ( 54 ) $ ( 114 ) $ 23 less : net income ( loss ) attributable to nci ........................( 18 ) 2 ( 13 ) non-operating income ( expense ) ( 1 ) ......( 36 ) ( 116 ) 36 compensation expense related to ( appreciation ) depreciation on deferred compensation plans ....( 6 ) 3 ( 11 ) non-operating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted ..........................$ ( 42 ) $ ( 113 ) $ 25 ( 1 ) net of net income ( loss ) attributable to nci .management believes non-operating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , provides comparability of this information among reporting periods and is an effective measure for reviewing blackrock 2019s non-operating contribution to its results .as compensation expense associated with ( appreciation ) depreciation on investments related to certain deferred compensation plans , which is included in operating income , substantially offsets the gain ( loss ) on the investments set aside for these plans , management .
[['( dollar amounts in millions )', '2012', '2011', '2010'], ['non-operating income ( expense ) gaap basis', '$ -54 ( 54 )', '$ -114 ( 114 )', '$ 23'], ['less : net income ( loss ) attributable to nci', '-18 ( 18 )', '2', '-13 ( 13 )'], ['non-operating income ( expense ) ( 1 )', '-36 ( 36 )', '-116 ( 116 )', '36'], ['compensation expense related to ( appreciation ) depreciation on deferred compensation plans', '-6 ( 6 )', '3', '-11 ( 11 )'], ['non-operating income ( expense ) less net income ( loss ) attributable to nci as adjusted', '$ -42 ( 42 )', '$ -113 ( 113 )', '$ 25']]
the portion of compensation expense associated with certain long-term incentive plans ( 201cltip 201d ) funded or to be funded through share distributions to participants of blackrock stock held by pnc and a merrill lynch & co. , inc .( 201cmerrill lynch 201d ) cash compensation contribution , has been excluded because it ultimately does not impact blackrock 2019s book value .the expense related to the merrill lynch cash compensation contribution ceased at the end of third quarter 2011 .as of first quarter 2012 , all of the merrill lynch contributions had been received .compensation expense associated with appreciation ( depreciation ) on investments related to certain blackrock deferred compensation plans has been excluded as returns on investments set aside for these plans , which substantially offset this expense , are reported in non-operating income ( expense ) .management believes operating income exclusive of these items is a useful measure in evaluating blackrock 2019s operating performance and helps enhance the comparability of this information for the reporting periods presented .operating margin , as adjusted : operating income used for measuring operating margin , as adjusted , is equal to operating income , as adjusted , excluding the impact of closed-end fund launch costs and commissions .management believes the exclusion of such costs and commissions is useful because these costs can fluctuate considerably and revenues associated with the expenditure of these costs will not fully impact the company 2019s results until future periods .operating margin , as adjusted , allows the company to compare performance from period-to-period by adjusting for items that may not recur , recur infrequently or may have an economic offset in non-operating income ( expense ) .examples of such adjustments include bgi transaction and integration costs , u.k .lease exit costs , contribution to stifs , restructuring charges , closed-end fund launch costs , commissions paid to certain employees as compensation and fluctuations in compensation expense based on mark-to-market movements in investments held to fund certain compensation plans .the company also uses operating margin , as adjusted , to monitor corporate performance and efficiency and as a benchmark to compare its performance with other companies .management uses both the gaap and non- gaap financial measures in evaluating the financial performance of blackrock .the non-gaap measure by itself may pose limitations because it does not include all of the company 2019s revenues and expenses .revenue used for operating margin , as adjusted , excludes distribution and servicing costs paid to related parties and other third parties .management believes the exclusion of such costs is useful because it creates consistency in the treatment for certain contracts for similar services , which due to the terms of the contracts , are accounted for under gaap on a net basis within investment advisory , administration fees and securities lending revenue .amortization of deferred sales commissions is excluded from revenue used for operating margin measurement , as adjusted , because such costs , over time , substantially offset distribution fee revenue earned by the company .for each of these items , blackrock excludes from revenue used for operating margin , as adjusted , the costs related to each of these items as a proxy for such offsetting revenues .( b ) non-operating income ( expense ) , less net income ( loss ) attributable to non-controlling interests , as adjusted : non-operating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , is presented below .the compensation expense offset is recorded in operating income .this compensation expense has been included in non-operating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , to offset returns on investments set aside for these plans , which are reported in non-operating income ( expense ) , gaap basis .( dollar amounts in millions ) 2012 2011 2010 non-operating income ( expense ) , gaap basis .............................$ ( 54 ) $ ( 114 ) $ 23 less : net income ( loss ) attributable to nci ........................( 18 ) 2 ( 13 ) non-operating income ( expense ) ( 1 ) ......( 36 ) ( 116 ) 36 compensation expense related to ( appreciation ) depreciation on deferred compensation plans ....( 6 ) 3 ( 11 ) non-operating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted ..........................$ ( 42 ) $ ( 113 ) $ 25 ( 1 ) net of net income ( loss ) attributable to nci .management believes non-operating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , provides comparability of this information among reporting periods and is an effective measure for reviewing blackrock 2019s non-operating contribution to its results .as compensation expense associated with ( appreciation ) depreciation on investments related to certain deferred compensation plans , which is included in operating income , substantially offsets the gain ( loss ) on the investments set aside for these plans , management .
|
what is the value of the non operating expenses between 2010 and 2012 ? in millions $ .
|
145
|
{
"answer": "145",
"decimal": 145,
"type": "float"
}
|
way too many lines
|
2013 2012 2011 .
[['', '2013', '2012', '2011'], ['track miles of rail replaced', '834', '964', '895'], ['track miles of rail capacity expansion', '97', '139', '69'], ['new ties installed ( thousands )', '3870', '4436', '3785'], ['miles of track surfaced', '11017', '11049', '11284']]
capital plan 2013 in 2014 , we expect our total capital investments to be approximately $ 3.9 billion , which may be revised if business conditions or the regulatory environment affect our ability to generate sufficient returns on these investments .while the number of our assets replaced will fluctuate as part of our replacement strategy , for 2014 we expect to use over 60% ( 60 % ) of our capital investments to replace and improve existing capital assets .among our major investment categories are replacing and improving track infrastructure and upgrading our locomotive , freight car and container fleets , including the acquisition of 200 locomotives .additionally , we will continue increasing our network and terminal capacity , especially in the southern region , and balancing terminal capacity with more mainline capacity .construction of a major rail facility at santa teresa , new mexico , will be completed in 2014 and will include a run-through and fueling facility as well as an intermodal ramp .we also plan to make significant investments in technology improvements , including approximately $ 450 million for ptc .we expect to fund our 2014 cash capital investments by using some or all of the following : cash generated from operations , proceeds from the sale or lease of various operating and non-operating properties , proceeds from the issuance of long-term debt , and cash on hand .our annual capital plan is a critical component of our long-term strategic plan , which we expect will enhance the long-term value of the corporation for our shareholders by providing sufficient resources to ( i ) replace and improve our existing track infrastructure to provide safe and fluid operations , ( ii ) increase network efficiency by adding or improving facilities and track , and ( iii ) make investments that meet customer demand and take advantage of opportunities for long-term growth .financing activities cash used in financing activities increased in 2013 versus 2012 , driven by a $ 744 million increase for the repurchase of shares under our common stock repurchase program and higher dividend payments in 2013 of $ 1.3 billion compared to $ 1.1 billion in 2012 .we increased our debt levels in 2013 , which partially offset the increase in cash used in financing activities .cash used in financing activities increased in 2012 versus 2011 .dividend payments in 2012 increased by $ 309 million , reflecting our higher dividend rate , and common stock repurchases increased by $ 56 million .our debt levels did not materially change from 2011 after a decline in debt levels from 2010 .therefore , less cash was used in 2012 for debt activity than in 2011 .dividends 2013 on february 6 , 2014 , we increased the quarterly dividend to $ 0.91 per share , payable on april 1 , 2014 , to shareholders of record on february 28 , 2014 .we expect to fund the increase in the quarterly dividend through cash generated from operations and cash on hand at december 31 , 2013 .credit facilities 2013 on december 31 , 2013 , we had $ 1.8 billion of credit available under our revolving credit facility ( the facility ) , which is designated for general corporate purposes and supports the issuance of commercial paper .we did not draw on the facility during 2013 .commitment fees and interest rates payable under the facility are similar to fees and rates available to comparably rated , investment-grade borrowers .the facility allows for borrowings at floating rates based on london interbank offered rates , plus a spread , depending upon credit ratings for our senior unsecured debt .the facility matures in 2015 under a four year term and requires the corporation to maintain a debt-to-net-worth coverage ratio as a condition to making a borrowing .at december 31 , 2013 , and december 31 , 2012 ( and at all times during the year ) , we were in compliance with this covenant .the definition of debt used for purposes of calculating the debt-to-net-worth coverage ratio includes , among other things , certain credit arrangements , capital leases , guarantees and unfunded and vested pension benefits under title iv of erisa .at december 31 , 2013 , the debt-to-net-worth coverage ratio allowed us to carry up to $ 42.4 billion of debt ( as defined in the facility ) , and we had $ 9.9 billion of debt ( as defined in the facility ) outstanding at that date .under our current capital plans , we expect to continue to satisfy the debt-to-net-worth coverage ratio ; however , many factors beyond our reasonable control .
|
in 2013 what was the ratio of the track miles of rail replaced to the capacity expansion
|
8.6
|
{
"answer": "8.6",
"decimal": 8.6,
"type": "float"
}
| |
part i item 1 entergy corporation , domestic utility companies , and system energy entergy louisiana holds non-exclusive franchises to provide electric service in approximately 116 incorporated louisiana municipalities .most of these franchises have 25-year terms , although six of these municipalities have granted 60-year franchises .entergy louisiana also supplies electric service in approximately 353 unincorporated communities , all of which are located in louisiana parishes in which it holds non-exclusive franchises .entergy mississippi has received from the mpsc certificates of public convenience and necessity to provide electric service to areas within 45 counties , including a number of municipalities , in western mississippi .under mississippi statutory law , such certificates are exclusive .entergy mississippi may continue to serve in such municipalities upon payment of a statutory franchise fee , regardless of whether an original municipal franchise is still in existence .entergy new orleans provides electric and gas service in the city of new orleans pursuant to city ordinances ( except electric service in algiers , which is provided by entergy louisiana ) .these ordinances contain a continuing option for the city of new orleans to purchase entergy new orleans' electric and gas utility properties .the business of system energy is limited to wholesale power sales .it has no distribution franchises .property and other generation resources generating stations the total capability of the generating stations owned and leased by the domestic utility companies and system energy as of december 31 , 2004 , is indicated below: .
[['company', 'owned and leased capability mw ( 1 ) total', 'owned and leased capability mw ( 1 ) gas/oil', 'owned and leased capability mw ( 1 ) nuclear', 'owned and leased capability mw ( 1 ) coal', 'owned and leased capability mw ( 1 ) hydro'], ['entergy arkansas', '4709', '1613', '1837', '1189', '70'], ['entergy gulf states', '6485', '4890', '968', '627', '-'], ['entergy louisiana', '5363', '4276', '1087', '-', '-'], ['entergy mississippi', '2898', '2490', '-', '408', '-'], ['entergy new orleans', '915', '915', '-', '-', '-'], ['system energy', '1143', '-', '1143', '-', '-'], ['total', '21513', '14184', '5035', '2224', '70']]
( 1 ) "owned and leased capability" is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel ( assuming no curtailments ) that each station was designed to utilize .entergy's load and capacity projections are reviewed periodically to assess the need and timing for additional generating capacity and interconnections .these reviews consider existing and projected demand , the availability and price of power , the location of new loads , and economy .peak load in the u.s .utility service territory is typically around 21000 mw , with minimum load typically around 9000 mw .allowing for an adequate reserve margin , entergy has been short approximately 3000 mw during the summer peak load period .in addition to its net short position at summer peak , entergy considers its generation in three categories : ( 1 ) baseload ( e.g .coal and nuclear ) ; ( 2 ) load-following ( e.g .combined cycle gas-fired ) ; and ( 3 ) peaking .the relative supply and demand for these categories of generation vary by region of the entergy system .for example , the north end of its system has more baseload coal and nuclear generation than regional demand requires , but is short load-following or intermediate generation .in the south end of the entergy system , load would be more effectively served if gas- fired intermediate resources already in place were supplemented with additional solid fuel baseload generation. .
|
what portion of total capability of entergy corporation is generated by entergy arkansas?
|
21.9%
|
{
"answer": "21.9%",
"decimal": 0.21899999999999997,
"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 class a common stock on the new york stock exchange ( 201cnyse 201d ) for the years 2007 and 2006. .
[['2007', 'high', 'low'], ['quarter ended march 31', '$ 41.31', '$ 36.63'], ['quarter ended june 30', '43.84', '37.64'], ['quarter ended september 30', '45.45', '36.34'], ['quarter ended december 31', '46.53', '40.08'], ['2006', 'high', 'low'], ['quarter ended march 31', '$ 32.68', '$ 26.66'], ['quarter ended june 30', '35.75', '27.35'], ['quarter ended september 30', '36.92', '29.98'], ['quarter ended december 31', '38.74', '35.21']]
on february 29 , 2008 , the closing price of our class a common stock was $ 38.44 per share as reported on the nyse .as of february 29 , 2008 , we had 395748826 outstanding shares of class a common stock and 528 registered holders .dividends we have never paid a dividend on any class of our common stock .we anticipate that we may retain future earnings , if any , to fund the development and growth of our business .the indentures governing our 7.50% ( 7.50 % ) senior notes due 2012 ( 201c7.50% ( 201c7.50 % ) notes 201d ) and our 7.125% ( 7.125 % ) senior notes due 2012 ( 201c7.125% ( 201c7.125 % ) notes 201d ) may prohibit us from paying dividends to our stockholders unless we satisfy certain financial covenants .the loan agreement for our revolving credit facility and the indentures governing the terms of our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes contain covenants that restrict our ability to pay dividends unless certain financial covenants are satisfied .in addition , while spectrasite and its subsidiaries are classified as unrestricted subsidiaries under the indentures for our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes , certain of spectrasite 2019s subsidiaries are subject to restrictions on the amount of cash that they can distribute to us under the loan agreement related to our securitization .for more information about the restrictions under the loan agreement for the revolving credit facility , our notes indentures and the loan agreement related to the securitization , see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 3 to our consolidated financial statements included in this annual report. .
|
for 2007 , what was thee average quarterly high stock price?
|
44.28
|
{
"answer": "44.28",
"decimal": 44.28,
"type": "float"
}
| |
performance of the company 2019s obligations under the senior notes , including any repurchase obligations resulting from a change of control , is unconditionally guaranteed , jointly and severally , on an unsecured basis , by each of hii 2019s existing and future domestic restricted subsidiaries that guarantees debt under the credit facility ( the 201csubsidiary guarantors 201d ) .the guarantees rank equally with all other unsecured and unsubordinated indebtedness of the guarantors .the subsidiary guarantors are each directly or indirectly 100% ( 100 % ) owned by hii .there are no significant restrictions on the ability of hii or any subsidiary guarantor to obtain funds from their respective subsidiaries by dividend or loan .mississippi economic development revenue bonds 2014as of december 31 , 2011 and 2010 , the company had $ 83.7 million outstanding from the issuance of industrial revenue bonds issued by the mississippi business finance corporation .these bonds accrue interest at a fixed rate of 7.81% ( 7.81 % ) per annum ( payable semi-annually ) and mature in 2024 .while repayment of principal and interest is guaranteed by northrop grumman systems corporation , hii has agreed to indemnify northrop grumman systems corporation for any losses related to the guaranty .in accordance with the terms of the bonds , the proceeds have been used to finance the construction , reconstruction , and renovation of the company 2019s interest in certain ship manufacturing and repair facilities , or portions thereof , located in the state of mississippi .gulf opportunity zone industrial development revenue bonds 2014as of december 31 , 2011 and 2010 , the company had $ 21.6 million outstanding from the issuance of gulf opportunity zone industrial development revenue bonds ( 201cgo zone irbs 201d ) issued by the mississippi business finance corporation .the go zone irbs were initially issued in a principal amount of $ 200 million , and in november 2010 , in connection with the anticipated spin-off , hii purchased $ 178 million of the bonds using the proceeds from a $ 178 million intercompany loan from northrop grumman .see note 20 : related party transactions and former parent company equity .the remaining bonds accrue interest at a fixed rate of 4.55% ( 4.55 % ) per annum ( payable semi-annually ) , and mature in 2028 .in accordance with the terms of the bonds , the proceeds have been used to finance the construction , reconstruction , and renovation of the company 2019s interest in certain ship manufacturing and repair facilities , or portions thereof , located in the state of mississippi .the estimated fair value of the company 2019s total long-term debt , including current portions , at december 31 , 2011 and 2010 , was $ 1864 million and $ 128 million , respectively .the fair value of the total long-term debt was calculated based on recent trades for most of the company 2019s debt instruments or based on interest rates prevailing on debt with substantially similar risks , terms and maturities .the aggregate amounts of principal payments due on long-term debt for each of the next five years and thereafter are : ( $ in millions ) .
[['2012', '$ 29'], ['2013', '50'], ['2014', '79'], ['2015', '108'], ['2016', '288'], ['thereafter', '1305'], ['total long-term debt', '$ 1859']]
14 .investigations , claims , and litigation the company is involved in legal proceedings before various courts and administrative agencies , and is periodically subject to government examinations , inquiries and investigations .pursuant to fasb accounting standard codification 450 contingencies , the company has accrued for losses associated with investigations , claims and litigation when , and to the extent that , loss amounts related to the investigations , claims and litigation are probable and can be reasonably estimated .the actual losses that might be incurred to resolve such investigations , claims and litigation may be higher or lower than the amounts accrued .for matters where a material loss is probable or reasonably possible and the amount of loss cannot be reasonably estimated , but the company is able to reasonably estimate a range of possible losses , such estimated range is required to be disclosed in these notes .this estimated range would be based on information currently available to the company and would involve elements of judgment and significant uncertainties .this estimated range of possible loss would not represent the company 2019s maximum possible loss exposure .for matters as to which the company is not able to reasonably estimate a possible loss or range of loss , the company is required to indicate the reasons why it is unable to estimate the possible loss or range of loss .for matters not specifically described in these notes , the company does not believe , based on information currently available to it , that it is reasonably possible that the liabilities , if any , arising from .
|
what was the ratio of the estimated fair value of the company 2019s total long-term debt , including current portions , at december 31 for 2011 compared to 2010
|
14.56
|
{
"answer": "14.56",
"decimal": 14.56,
"type": "float"
}
|
for every dollar of the estimated fair value of the company 2019s total long-term debt , including current portions , at december 31 in 2010 , there was $ 14.56 in 2010
|
management 2019s discussion and analysis 110 jpmorgan chase & co./2013 annual report 2012 compared with 2011 net loss was $ 2.0 billion , compared with a net income of $ 919 million in the prior year .private equity reported net income of $ 292 million , compared with net income of $ 391 million in the prior year .net revenue was $ 601 million , compared with $ 836 million in the prior year , due to lower unrealized and realized gains on private investments , partially offset by higher unrealized gains on public securities .noninterest expense was $ 145 million , down from $ 238 million in the prior year .treasury and cio reported a net loss of $ 2.1 billion , compared with net income of $ 1.3 billion in the prior year .net revenue was a loss of $ 3.1 billion , compared with net revenue of $ 3.2 billion in the prior year .the current year loss reflected $ 5.8 billion of losses incurred by cio from the synthetic credit portfolio for the six months ended june 30 , 2012 , and $ 449 million of losses from the retained index credit derivative positions for the three months ended september 30 , 2012 .these losses were partially offset by securities gains of $ 2.0 billion .the current year revenue reflected $ 888 million of extinguishment gains related to the redemption of trust preferred securities , which are included in all other income in the above table .the extinguishment gains were related to adjustments applied to the cost basis of the trust preferred securities during the period they were in a qualified hedge accounting relationship .net interest income was negative $ 683 million , compared with $ 1.4 billion in the prior year , primarily reflecting the impact of lower portfolio yields and higher deposit balances across the firm .other corporate reported a net loss of $ 221 million , compared with a net loss of $ 821 million in the prior year .noninterest revenue of $ 1.8 billion was driven by a $ 1.1 billion benefit for the washington mutual bankruptcy settlement , which is included in all other income in the above table , and a $ 665 million gain from the recovery on a bear stearns-related subordinated loan .noninterest expense of $ 3.8 billion was up $ 1.0 billion compared with the prior year .the current year included expense of $ 3.7 billion for additional litigation reserves , largely for mortgage-related matters .the prior year included expense of $ 3.2 billion for additional litigation reserves .treasury and cio overview treasury and cio are predominantly responsible for measuring , monitoring , reporting and managing the firm 2019s liquidity , funding and structural interest rate and foreign exchange risks , as well as executing the firm 2019s capital plan .the risks managed by treasury and cio arise from the activities undertaken by the firm 2019s four major reportable business segments to serve their respective client bases , which generate both on- and off-balance sheet assets and liabilities .cio achieves the firm 2019s asset-liability management objectives generally by investing in high-quality securities that are managed for the longer-term as part of the firm 2019s afs and htm investment securities portfolios ( the 201cinvestment securities portfolio 201d ) .cio also uses derivatives , as well as securities that are not classified as afs or htm , to meet the firm 2019s asset-liability management objectives .for further information on derivatives , see note 6 on pages 220 2013233 of this annual report .for further information about securities not classified within the afs or htm portfolio , see note 3 on pages 195 2013215 of this annual report .the treasury and cio investment securities portfolio primarily consists of u.s .and non-u.s .government securities , agency and non-agency mortgage-backed securities , other asset-backed securities , corporate debt securities and obligations of u.s .states and municipalities .at december 31 , 2013 , the total treasury and cio investment securities portfolio was $ 347.6 billion ; the average credit rating of the securities comprising the treasury and cio investment securities portfolio was aa+ ( based upon external ratings where available and where not available , based primarily upon internal ratings that correspond to ratings as defined by s&p and moody 2019s ) .see note 12 on pages 249 2013254 of this annual report for further information on the details of the firm 2019s investment securities portfolio .for further information on liquidity and funding risk , see liquidity risk management on pages 168 2013173 of this annual report .for information on interest rate , foreign exchange and other risks , treasury and cio value-at-risk ( 201cvar 201d ) and the firm 2019s structural interest rate-sensitive revenue at risk , see market risk management on pages 142 2013148 of this annual report .selected income statement and balance sheet data as of or for the year ended december 31 , ( in millions ) 2013 2012 2011 .
[['as of or for the year ended december 31 ( in millions )', '2013', '2012', '2011'], ['securities gains', '$ 659', '$ 2028', '$ 1385'], ['investment securities portfolio ( average )', '353712', '358029', '330885'], ['investment securities portfolio ( period 2013end ) ( a )', '347562', '365421', '355605'], ['mortgage loans ( average )', '5145', '10241', '13006'], ['mortgage loans ( period-end )', '3779', '7037', '13375']]
( a ) period-end investment securities included held-to-maturity balance of $ 24.0 billion at december 31 , 2013 .held-to-maturity balances for the other periods were not material. .
|
based on the selected financial statement data what was the variance between the mortgage loans average and period-end balance
|
1366
|
{
"answer": "1366",
"decimal": 1366,
"type": "float"
}
| |
packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2005 9 .shareholders 2019 equity ( continued ) stockholder received proceeds , net of the underwriting discount , of $ 20.69 per share .the company did not sell any shares in , or receive any proceeds from , the secondary offering .concurrent with the closing of the secondary offering on december 21 , 2005 , the company entered into a common stock repurchase agreement with pca holdings llc .pursuant to the repurchase agreement , the company purchased 4500000 shares of common stock directly from pca holdings llc at the initial price to the public net of the underwriting discount or $ 20.69 per share , the same net price per share received by pca holdings llc in the secondary offering .these shares were retired on december 21 , 2005 .10 .commitments and contingencies capital commitments the company had authorized capital expenditures of approximately $ 33.1 million and $ 55.2 million as of december 31 , 2005 and 2004 , respectively , in connection with the expansion and replacement of existing facilities and equipment .operating leases pca leases space for certain of its facilities and cutting rights to approximately 108000 acres of timberland under long-term leases .the company also leases equipment , primarily vehicles and rolling stock , and other assets under long-term leases of a duration generally of three years .the minimum lease payments under non-cancelable operating leases with lease terms in excess of one year are as follows : ( in thousands ) .
[['2006', '$ 24569'], ['2007', '21086'], ['2008', '14716'], ['2009', '9801'], ['2010', '6670'], ['thereafter', '37130'], ['total', '$ 113972']]
capital lease obligations were not significant to the accompanying financial statements .total lease expense , including base rent on all leases and executory costs , such as insurance , taxes , and maintenance , for the years ended december 31 , 2005 , 2004 and 2003 was $ 35.8 million , $ 33.0 million and $ 31.6 million , respectively .these costs are included in cost of goods sold and selling and administrative expenses. .
|
what was total lease expense , including base rent on all leases and executory costs , for the years ended december 31 , 2005 and 2004 , in millions?
|
68.8
|
{
"answer": "68.8",
"decimal": 68.8,
"type": "float"
}
| |
an adverse development with respect to one claim in 2008 and favorable developments in three cases in 2009 .other costs were also lower in 2009 compared to 2008 , driven by a decrease in expenses for freight and property damages , employee travel , and utilities .in addition , higher bad debt expense in 2008 due to the uncertain impact of the recessionary economy drove a favorable year-over-year comparison .conversely , an additional expense of $ 30 million related to a transaction with pacer international , inc .and higher property taxes partially offset lower costs in 2009 .other costs were higher in 2008 compared to 2007 due to an increase in bad debts , state and local taxes , loss and damage expenses , utility costs , and other miscellaneous expenses totaling $ 122 million .conversely , personal injury costs ( including asbestos-related claims ) were $ 8 million lower in 2008 compared to 2007 .the reduction reflects improvements in our safety experience and lower estimated costs to resolve claims as indicated in the actuarial studies of our personal injury expense and annual reviews of asbestos-related claims in both 2008 and 2007 .the year-over-year comparison also includes the negative impact of adverse development associated with one claim in 2008 .in addition , environmental and toxic tort expenses were $ 7 million lower in 2008 compared to 2007 .non-operating items millions of dollars 2009 2008 2007 % ( % ) change 2009 v 2008 % ( % ) change 2008 v 2007 .
[['millions of dollars', '2009', '2008', '2007', '% ( % ) change 2009 v 2008', '% ( % ) change 2008 v 2007'], ['other income', '$ 195', '$ 92', '$ 116', '112 % ( % )', '( 21 ) % ( % )'], ['interest expense', '-600 ( 600 )', '-511 ( 511 )', '-482 ( 482 )', '17', '6'], ['income taxes', '-1089 ( 1089 )', '-1318 ( 1318 )', '-1154 ( 1154 )', '-17 ( 17 )', '14']]
other income 2013 other income increased $ 103 million in 2009 compared to 2008 primarily due to higher gains from real estate sales , which included the $ 116 million pre-tax gain from a land sale to the regional transportation district ( rtd ) in colorado and lower interest expense on our sale of receivables program , resulting from lower interest rates and a lower outstanding balance .reduced rental and licensing income and lower returns on cash investments , reflecting lower interest rates , partially offset these increases .other income decreased in 2008 compared to 2007 due to lower gains from real estate sales and decreased returns on cash investments reflecting lower interest rates .higher rental and licensing income and lower interest expense on our sale of receivables program partially offset the decreases .interest expense 2013 interest expense increased in 2009 versus 2008 due primarily to higher weighted- average debt levels .in 2009 , the weighted-average debt level was $ 9.6 billion ( including the restructuring of locomotive leases in may of 2009 ) , compared to $ 8.3 billion in 2008 .our effective interest rate was 6.3% ( 6.3 % ) in 2009 , compared to 6.1% ( 6.1 % ) in 2008 .interest expense increased in 2008 versus 2007 due to a higher weighted-average debt level of $ 8.3 billion , compared to $ 7.3 billion in 2007 .a lower effective interest rate of 6.1% ( 6.1 % ) in 2008 , compared to 6.6% ( 6.6 % ) in 2007 , partially offset the effects of the higher weighted-average debt level .income taxes 2013 income taxes were lower in 2009 compared to 2008 , driven by lower pre-tax income .our effective tax rate for the year was 36.5% ( 36.5 % ) compared to 36.1% ( 36.1 % ) in 2008 .income taxes were higher in 2008 compared to 2007 , driven by higher pre-tax income .our effective tax rates were 36.1% ( 36.1 % ) and 38.4% ( 38.4 % ) in 2008 and 2007 , respectively .the lower effective tax rate in 2008 resulted from several reductions in tax expense related to federal audits and state tax law changes .in addition , the effective tax rate in 2007 was increased by illinois legislation that increased deferred tax expense in the third quarter of 2007. .
|
if the 2009 weighted-average debt level had the same weighted average interest rate as 2008 , what would interest expense have been , in millions?
|
585.6
|
{
"answer": "585.6",
"decimal": 585.6,
"type": "float"
}
| |
unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies .a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations .when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .however , many of our assets are self-constructed .a large portion of our capital expenditures is for replacement of existing road infrastructure assets ( program projects ) , which is typically performed by our employees , and for track line expansion ( capacity projects ) .costs that are directly attributable or overhead costs that relate directly to capital projects are capitalized .direct costs that are capitalized as part of self-constructed assets include material , labor , and work equipment .indirect costs are capitalized if they clearly relate to the construction of the asset .these costs are allocated using appropriate statistical bases .general and administrative expenditures are expensed as incurred .normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .11 .accounts payable and other current liabilities dec .31 , dec .31 , millions of dollars 2009 2008 .
[['millions of dollars', 'dec . 31 2009', 'dec . 31 2008'], ['accounts payable', '$ 612', '$ 629'], ['accrued wages and vacation', '339', '367'], ['accrued casualty costs', '379', '390'], ['income and other taxes', '224', '207'], ['dividends and interest', '347', '328'], ['equipment rents payable', '89', '93'], ['other', '480', '546'], ['total accounts payable and other current liabilities', '$ 2470', '$ 2560']]
12 .financial instruments strategy and risk 2013 we may use derivative financial instruments in limited instances for other than trading purposes to assist in managing our overall exposure to fluctuations in interest rates and fuel prices .we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes .derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period .we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness .changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings .we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable interest rate and fuel price movements. .
|
what was the percentage increase in short term debt for amounts distributed to shareholders and debt holders during 2009?
|
5.8%
|
{
"answer": "5.8%",
"decimal": 0.057999999999999996,
"type": "percentage"
}
| |
operating profit for the segment decreased by 1% ( 1 % ) in 2010 compared to 2009 .for the year , operating profit declines in defense more than offset an increase in civil , while operating profit at intelligence essentially was unchanged .the $ 27 million decrease in operating profit at defense primarily was attributable to a decrease in the level of favorable performance adjustments on mission and combat systems activities in 2010 .the $ 19 million increase in civil principally was due to higher volume on enterprise civilian services .operating profit for the segment decreased by 3% ( 3 % ) in 2009 compared to 2008 .operating profit declines in civil and intelligence partially were offset by growth in defense .the decrease of $ 29 million in civil 2019s operating profit primarily was attributable to a reduction in the level of favorable performance adjustments on enterprise civilian services programs in 2009 compared to 2008 .the decrease in operating profit of $ 27 million at intelligence mainly was due to a reduction in the level of favorable performance adjustments on security solution activities in 2009 compared to 2008 .the increase in defense 2019s operating profit of $ 29 million mainly was due to volume and improved performance in mission and combat systems .the decrease in backlog during 2010 compared to 2009 mainly was due to higher sales volume on enterprise civilian service programs at civil , including volume associated with the dris 2010 program , and mission and combat system programs at defense .backlog decreased in 2009 compared to 2008 due to u.s .government 2019s exercise of the termination for convenience clause on the tsat mission operations system ( tmos ) contract at defense , which resulted in a $ 1.6 billion reduction in orders .this decline more than offset increased orders on enterprise civilian services programs at civil .we expect is&gs will experience a low single digit percentage decrease in sales for 2011 as compared to 2010 .this decline primarily is due to completion of most of the work associated with the dris 2010 program .operating profit in 2011 is expected to decline in relationship to the decline in sales volume , while operating margins are expected to be comparable between the years .space systems our space systems business segment is engaged in the design , research and development , engineering , and production of satellites , strategic and defensive missile systems , and space transportation systems , including activities related to the planned replacement of the space shuttle .government satellite programs include the advanced extremely high frequency ( aehf ) system , the mobile user objective system ( muos ) , the global positioning satellite iii ( gps iii ) system , the space-based infrared system ( sbirs ) , and the geostationary operational environmental satellite r-series ( goes-r ) .strategic and missile defense programs include the targets and countermeasures program and the fleet ballistic missile program .space transportation includes the nasa orion program and , through ownership interests in two joint ventures , expendable launch services ( united launch alliance , or ula ) and space shuttle processing activities for the u.s .government ( united space alliance , or usa ) .the space shuttle is expected to complete its final flight mission in 2011 and our involvement with its launch and processing activities will end at that time .space systems 2019 operating results included the following : ( in millions ) 2010 2009 2008 .
[['( in millions )', '2010', '2009', '2008'], ['net sales', '$ 8246', '$ 8654', '$ 8027'], ['operating profit', '972', '972', '953'], ['operating margin', '11.8% ( 11.8 % )', '11.2% ( 11.2 % )', '11.9% ( 11.9 % )'], ['backlog at year-end', '17800', '16800', '17900']]
net sales for space systems decreased by 5% ( 5 % ) in 2010 compared to 2009 .sales declined in all three lines of business during the year .the $ 253 million decrease in space transportation principally was due to lower volume on the space shuttle external tank , commercial launch vehicle activity and other human space flight programs , which partially were offset by higher volume on the orion program .there were no commercial launches in 2010 compared to one commercial launch in 2009 .strategic & defensive missile systems ( s&dms ) sales declined $ 147 million principally due to lower volume on defensive missile programs .the $ 8 million sales decline in satellites primarily was attributable to lower volume on commercial satellites , which partially were offset by higher volume on government satellite activities .there was one commercial satellite delivery in 2010 and one commercial satellite delivery in 2009 .net sales for space systems increased 8% ( 8 % ) in 2009 compared to 2008 .during the year , sales growth at satellites and space transportation offset a decline in s&dms .the sales growth of $ 707 million in satellites was due to higher volume in government satellite activities , which partially was offset by lower volume in commercial satellite activities .there was one commercial satellite delivery in 2009 and two deliveries in 2008 .the increase in sales of $ 21 million in space transportation primarily was due to higher volume on the orion program , which more than offset a decline in the space shuttle 2019s external tank program .there was one commercial launch in both 2009 and 2008 .s&dms 2019 sales decreased by $ 102 million mainly due to lower volume on defensive missile programs , which more than offset growth in strategic missile programs. .
|
what are the total operating expenses as a percentage of sales in 2010?
|
88.2%
|
{
"answer": "88.2%",
"decimal": 0.882,
"type": "percentage"
}
| |
entergy arkansas , inc .management's financial discussion and analysis gross operating revenues and fuel and purchased power expenses gross operating revenues increased primarily due to : an increase of $ 114 million in gross wholesale revenue due to an increase in the average price of energy available for resale sales and an increase in sales to affiliated customers ; an increase of $ 106.1 million in production cost allocation rider revenues which became effective in july 2007 as a result of the system agreement proceedings .as a result of the system agreement proceedings , entergy arkansas also has a corresponding increase in deferred fuel expense for payments to other entergy system companies such that there is no effect on net income .entergy arkansas makes payments over a seven-month period but collections from customers occur over a twelve-month period .the production cost allocation rider is discussed in note 2 to the financial statements and the system agreement proceedings are referenced below under "federal regulation" ; and an increase of $ 58.9 million in fuel cost recovery revenues due to changes in the energy cost recovery rider effective april 2008 and september 2008 , partially offset by decreased usage .the energy cost recovery rider filings are discussed in note 2 to the financial statements .the increase was partially offset by a decrease of $ 14.6 million related to volume/weather , as discussed above .fuel and purchased power expenses increased primarily due to an increase of $ 106.1 million in deferred system agreement payments , as discussed above and an increase in the average market price of purchased power .2007 compared to 2006 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory credits .following is an analysis of the change in net revenue comparing 2007 to 2006 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2006 net revenue', '$ 1074.5'], ['net wholesale revenue', '13.2'], ['transmission revenue', '11.8'], ['deferred fuel costs revisions', '8.6'], ['other', '2.5'], ['2007 net revenue', '$ 1110.6']]
the net wholesale revenue variance is primarily due to lower wholesale revenues in the third quarter 2006 due to an october 2006 ferc order requiring entergy arkansas to make a refund to a coal plant co-owner resulting from a contract dispute , in addition to re-pricing revisions , retroactive to 2003 , of $ 5.9 million of purchased power agreements among entergy system companies as directed by the ferc .the transmission revenue variance is primarily due to higher rates and the addition of new transmission customers in late 2006 .the deferred fuel cost revisions variance is primarily due to the 2006 energy cost recovery true-up , made in the first quarter 2007 , which increased net revenue by $ 6.6 million .gross operating revenue and fuel and purchased power expenses gross operating revenues decreased primarily due to a decrease of $ 173.1 million in fuel cost recovery revenues due to a decrease in the energy cost recovery rider effective april 2007 .the energy cost recovery rider is discussed in note 2 to the financial statements .the decrease was partially offset by production cost allocation rider revenues of $ 124.1 million that became effective in july 2007 as a result of the system agreement proceedings .as .
|
what is the growth rate in net revenue in 2007 for entergy arkansas , inc.?
|
3.4%
|
{
"answer": "3.4%",
"decimal": 0.034,
"type": "percentage"
}
| |
determined that it was the primary beneficiary of the 2001 financing entities and thus consolidated the entities effective march 16 , 2011 .effective april 30 , 2011 , international paper liquidated its interest in the 2001 financing entities .activity between the company and the 2002 financ- ing entities was as follows: .
[['in millions', '2012', '2011', '2010'], ['revenue ( loss ) ( a )', '$ 2014', '$ 2', '$ 5'], ['expense ( b )', '2014', '3', '8'], ['cash receipts ( c )', '252', '192', '3'], ['cash payments ( d )', '159', '244', '8']]
( a ) the revenue is included in equity earnings ( loss ) , net of tax in the accompanying consolidated statement of operations .( b ) the expense is included in interest expense , net in the accom- panying consolidated statement of operations .( c ) the cash receipts are equity distributions from the 2002 financ- ing entities to international paper and cash receipts from the maturity of the 2002 monetized notes .( d ) the cash payments include both interest and principal on the associated debt obligations .on may 31 , 2011 , the third-party equity holder of the 2002 financing entities retired its class a interest in the entities for $ 51 million .as a result of the retire- ment , effective may 31 , 2011 , international paper owned 100% ( 100 % ) of the 2002 financing entities .based on an analysis performed by the company after the retirement , under guidance that considers the poten- tial magnitude of the variability in the structure and which party has controlling financial interest , international paper determined that it was the pri- mary beneficiary of the 2002 financing entities and thus consolidated the entities effective may 31 , 2011 .during the year ended december 31 , 2011 approx- imately $ 191 million of the 2002 monetized notes matured .outstanding debt related to these entities of $ 158 million is included in floating rate notes due 2011 2013 2017 in the summary of long-term debt in note 12 at december 31 , 2011 .as of may 31 , 2012 , this debt had been repaid .during the year ended december 31 , 2012 , $ 252 mil- lion of the 2002 monetized notes matured .as of result of these maturities , accounts and notes receivable decreased $ 252 million and notes payable and current maturities of long-term debt decreased $ 158 million .deferred tax liabilities associated with the 2002 forestland installment sales decreased $ 67 million .effective june 1 , 2012 , international paper liquidated its interest in the 2002 financing entities .the use of the above entities facilitated the mone- tization of the credit enhanced timber and mone- tized notes in a cost effective manner by increasing the borrowing capacity and lowering the interest rate while continuing to preserve the tax deferral that resulted from the forestlands installment sales and the offset accounting treatment described above .in connection with the acquisition of temple-inland in february 2012 , two special purpose entities became wholly-owned subsidiaries of international paper .in october 2007 , temple-inland sold 1.55 million acres of timberlands for $ 2.38 billion .the total con- sideration consisted almost entirely of notes due in 2027 issued by the buyer of the timberlands , which temple-inland contributed to two wholly-owned , bankruptcy-remote special purpose entities .the notes are shown in financial assets of special pur- pose entities in the accompanying consolidated balance sheet and are supported by $ 2.38 billion of irrevocable letters of credit issued by three banks , which are required to maintain minimum credit rat- ings on their long-term debt .in the third quarter of 2012 , international paper completed is preliminary analysis of the acquisition date fair value of the notes and determined it to be $ 2.09 billion .as a result of this analysis , financial assets of special purposed entities decreased by $ 292 million and goodwill increased by the same amount .as of december 31 , 2012 , the fair value of the notes was $ 2.21 billion .in december 2007 , temple-inland 2019s two wholly- owned special purpose entities borrowed $ 2.14 bil- lion shown in nonrecourse financial liabilities of special purpose entities in the accompanying con- solidated balance sheet .the loans are repayable in 2027 and are secured only by the $ 2.38 billion of notes and the irrevocable letters of credit securing the notes and are nonrecourse to the company .the loan agreements provide that if a credit rating of any of the banks issuing the letters of credit is down- graded below the specified threshold , the letters of credit issued by that bank must be replaced within 30 days with letters of credit from another qualifying financial institution .in the third quarter of 2012 , international paper completed its preliminary analy- sis of the acquisition date fair value of the borrow- ings and determined it to be $ 2.03 billion .as a result of this analysis , nonrecourse financial liabilities of special purpose entities decreased by $ 110 million and goodwill decreased by the same amount .as of december 31 , 2012 , the fair value of this debt was $ 2.12 billion .the buyer of the temple-inland timberland issued the $ 2.38 billion in notes from its wholly-owned , bankruptcy-remote special purpose entities .the buyer 2019s special purpose entities held the timberlands from the transaction date until november 2008 , at which time the timberlands were transferred out of the buyer 2019s special purpose entities .due to the transfer of the timberlands , temple-inland evaluated the buyer 2019s special purpose entities and determined that they were variable interest entities and that temple-inland was the primary beneficiary .as a result , in 2008 , temple-inland .
|
for the three years of 2010 , 2011 and 2012 what was the net cash impact from the 2002 financing entities?
|
36
|
{
"answer": "36",
"decimal": 36,
"type": "float"
}
|
summing the inflows and outflows gives us a look a the contribution over the 3 years of the financing entities relationship and benefit or drag on the company .
|
aggregate notional amounts associated with interest rate caps in place as of december 31 , 2004 and interest rate detail by contractual maturity dates ( in thousands , except percentages ) .
[['interest rate caps', '2005', '2006'], ['notional amount ( d )', '$ 350000', '$ 350000'], ['cap rate ( e )', '6.00% ( 6.00 % )', '6.00% ( 6.00 % )']]
( a ) as of december 31 , 2005 , variable rate debt consists of the new american tower and spectrasite credit facilities ( $ 1493.0 million ) that were refinanced on october 27 , 2005 , which are included above based on their october 27 , 2010 maturity dates .as of december 31 , 2005 , fixed rate debt consists of : the 2.25% ( 2.25 % ) convertible notes due 2009 ( 2.25% ( 2.25 % ) notes ) ( $ 0.1 million ) ; the 7.125% ( 7.125 % ) notes ( $ 500.0 million principal amount due at maturity ; the balance as of december 31 , 2005 is $ 501.9 million ) ; the 5.0% ( 5.0 % ) notes ( $ 275.7 million ) ; the 3.25% ( 3.25 % ) notes ( $ 152.9 million ) ; the 7.50% ( 7.50 % ) notes ( $ 225.0 million ) ; the ati 7.25% ( 7.25 % ) notes ( $ 400.0 million ) ; the ati 12.25% ( 12.25 % ) notes ( $ 227.7 million principal amount due at maturity ; the balance as of december 31 , 2005 is $ 160.3 million accreted value , net of the allocated fair value of the related warrants of $ 7.2 million ) ; the 3.00% ( 3.00 % ) notes ( $ 345.0 million principal amount due at maturity ; the balance as of december 31 , 2005 is $ 344.4 million accreted value ) and other debt of $ 60.4 million .interest on our credit facilities is payable in accordance with the applicable london interbank offering rate ( libor ) agreement or quarterly and accrues at our option either at libor plus margin ( as defined ) or the base rate plus margin ( as defined ) .the weighted average interest rate in effect at december 31 , 2005 for our credit facilities was 4.71% ( 4.71 % ) .for the year ended december 31 , 2005 , the weighted average interest rate under our credit facilities was 5.03% ( 5.03 % ) .as of december 31 , 2004 , variable rate debt consists of our previous credit facility ( $ 698.0 million ) and fixed rate debt consists of : the 2.25% ( 2.25 % ) notes ( $ 0.1 million ) ; the 7.125% ( 7.125 % ) notes ( $ 500.0 million principal amount due at maturity ; the balance as of december 31 , 2004 is $ 501.9 million ) ; the 5.0% ( 5.0 % ) notes ( $ 275.7 million ) ; the 3.25% ( 3.25 % ) notes ( $ 210.0 million ) ; the 7.50% ( 7.50 % ) notes ( $ 225.0 million ) ; the ati 7.25% ( 7.25 % ) notes ( $ 400.0 million ) ; the ati 12.25% ( 12.25 % ) notes ( $ 498.3 million principal amount due at maturity ; the balance as of december 31 , 2004 is $ 303.8 million accreted value , net of the allocated fair value of the related warrants of $ 21.6 million ) ; the 9 3 20448% ( 20448 % ) notes ( $ 274.9 million ) ; the 3.00% ( 3.00 % ) notes ( $ 345.0 million principal amount due at maturity ; the balance as of december 31 , 2004 is $ 344.3 million accreted value ) and other debt of $ 60.0 million .interest on the credit facility was payable in accordance with the applicable london interbank offering rate ( libor ) agreement or quarterly and accrues at our option either at libor plus margin ( as defined ) or the base rate plus margin ( as defined ) .the weighted average interest rate in effect at december 31 , 2004 for the credit facility was 4.35% ( 4.35 % ) .for the year ended december 31 , 2004 , the weighted average interest rate under the credit facility was 3.81% ( 3.81 % ) .( b ) includes notional amount of $ 175000 that expires in february 2006 .( c ) includes notional amount of $ 25000 that expires in september 2007 .( d ) includes notional amounts of $ 250000 and $ 100000 that expire in june and july 2006 , respectively .( e ) represents the weighted-average fixed rate or range of interest based on contractual notional amount as a percentage of total notional amounts in a given year .( f ) includes notional amounts of $ 75000 , $ 75000 and $ 150000 that expire in december 2009 .( g ) includes notional amounts of $ 100000 , $ 50000 , $ 50000 , $ 50000 and $ 50000 that expire in october 2010 .( h ) includes notional amounts of $ 50000 and $ 50000 that expire in october 2010 .( i ) includes notional amount of $ 50000 that expires in october 2010 .our foreign operations include rental and management segment divisions in mexico and brazil .the remeasurement gain for the year ended december 31 , 2005 was $ 396000 , and the remeasurement losses for the years ended december 31 , 2004 , and 2003 approximated $ 146000 , and $ 1142000 , respectively .changes in interest rates can cause interest charges to fluctuate on our variable rate debt , comprised of $ 1493.0 million under our credit facilities as of december 31 , 2005 .a 10% ( 10 % ) increase , or approximately 47 basis points , in current interest rates would have caused an additional pre-tax charge our net loss and an increase in our cash outflows of $ 7.0 million for the year ended december 31 , 2005 .item 8 .financial statements and supplementary data see item 15 ( a ) .item 9 .changes in and disagreements with accountants on accounting and financial disclosure .
|
what was the ratio of the re-measurement gain from 2005 to 2004
|
2.71
|
{
"answer": "2.71",
"decimal": 2.71,
"type": "float"
}
|
the re-measurement gain in 2005 was 2.7 times the re-measurement gain in 2004
|
annual report on form 10-k 108 fifth third bancorp part ii item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the information required by this item is included in the corporate information found on the inside of the back cover and in the discussion of dividend limitations that the subsidiaries can pay to the bancorp discussed in note 26 of the notes to the consolidated financial statements .additionally , as of december 31 , 2008 , the bancorp had approximately 60025 shareholders of record .issuer purchases of equity securities period shares purchased average paid per shares purchased as part of publicly announced plans or programs maximum shares that may be purchased under the plans or programs .
[['period', 'sharespurchased ( a )', 'averagepricepaid pershare', 'sharespurchasedas part ofpubliclyannouncedplans orprograms', 'maximumshares thatmay bepurchasedunder theplans orprograms'], ['october 2008', '25394', '$ -', '-', '19201518'], ['november 2008', '7526', '-', '-', '19201518'], ['december 2008', '40', '-', '-', '19201518'], ['total', '32960', '$ -', '-', '19201518']]
( a ) the bancorp repurchased 25394 , 7526 and 40 shares during october , november and december of 2008 in connection with various employee compensation plans of the bancorp .these purchases are not included against the maximum number of shares that may yet be purchased under the board of directors authorization. .
|
what percentage of the fourth quarter share repurchases were in the last moth of the year in 2008?
|
0.1%
|
{
"answer": "0.1%",
"decimal": 0.001,
"type": "percentage"
}
| |
hologic , inc .notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) fiscal 2007 acquisition : acquisition of biolucent , inc .on september 18 , 2007 the company completed the acquisition of biolucent , inc .( 201cbiolucent 201d ) pursuant to a definitive agreement dated june 20 , 2007 .the results of operations for biolucent have been included in the company 2019s consolidated financial statements from the date of acquisition as part of its mammography/breast care business segment .the company has concluded that the acquisition of biolucent does not represent a material business combination and therefore no pro forma financial information has been provided herein .biolucent , previously located in aliso viejo , california , develops , markets and sells mammopad breast cushions to decrease the discomfort associated with mammography .prior to the acquisition , biolucent 2019s primary research and development efforts were directed at its brachytherapy business which was focused on breast cancer therapy .prior to the acquisition , biolucent spun-off its brachytherapy technology and business to the holders of biolucent 2019s outstanding shares of capital stock .as a result , the company only acquired biolucent 2019s mammopad cushion business and related assets .the company invested $ 1000 directly in the spun-off brachytherapy business in exchange for shares of preferred stock issued by the new business .the aggregate purchase price for biolucent was approximately $ 73200 , consisting of approximately $ 6800 in cash and 2314 shares of hologic common stock valued at approximately $ 63200 , debt assumed and paid off of approximately $ 1600 and approximately $ 1600 for acquisition related fees and expenses .the company determined the fair value of the shares issued in connection with the acquisition in accordance with eitf issue no .99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination .the acquisition also provides for up to two annual earn-out payments not to exceed $ 15000 in the aggregate based on biolucent 2019s achievement of certain revenue targets .the company has considered the provision of eitf issue no .95-8 , accounting for contingent consideration paid to the shareholders of an acquired enterprise in a purchase business combination , and concluded that this contingent consideration will represent additional purchase price .as a result , goodwill will be increased by the amount of the additional consideration , if any , when it becomes due and payable .as of september 27 , 2008 , the company has not recorded any amounts for these potential earn-outs .the allocation of the purchase price is based upon estimates of the fair value of assets acquired and liabilities assumed as of september 18 , 2007 .the components and allocation of the purchase price consists of the following approximate amounts: .
[['net tangible assets acquired as of september 18 2007', '$ 2800'], ['developed technology and know how', '12300'], ['customer relationship', '17000'], ['trade name', '2800'], ['deferred income tax liabilities net', '-9500 ( 9500 )'], ['goodwill', '47800'], ['final purchase price', '$ 73200']]
as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued .it was determined that only customer relationship , trade name and developed technology and know-how had separately identifiable values .the fair value of these intangible assets was determined through the application of the income approach .customer relationship represents a large customer base that is expected to purchase the disposable mammopad product on a regular basis .trade name represents the .
|
what portion of the final purchase price of biolucent is dedicated to goodwill?
|
65.3%
|
{
"answer": "65.3%",
"decimal": 0.653,
"type": "percentage"
}
| |
the following table provides a summary of our historical capital expenditures related to the upgrading of our infrastructure and systems: .
[['( in millions )', 'for the years ended december 31 , 2018', 'for the years ended december 31 , 2017', 'for the years ended december 31 , 2016'], ['transmission and distribution', '$ 572', '$ 551', '$ 568'], ['treatment and pumping', '231', '171', '151'], ['services meter and fire hydrants', '303', '281', '297'], ['general structure and equipment', '371', '281', '202'], ['sources of supply', '26', '54', '59'], ['wastewater', '83', '96', '34'], ['total capital expenditures', '$ 1586', '$ 1434', '$ 1311']]
in 2018 , our capital expenditures increased $ 152 million , or 10.6% ( 10.6 % ) , primarily due to investment across the majority of our infrastructure categories .in 2017 , our capital expenditures increased $ 123 million , or 9.4% ( 9.4 % ) , primarily due to investment in our general structure and equipment and wastewater categories .we also grow our business primarily through acquisitions of water and wastewater systems , as well as other water-related services .these acquisitions are complementary to our existing business and support continued geographical diversification and growth of our operations .generally , acquisitions are funded initially with short- term debt , and later refinanced with the proceeds from long-term debt .the following is a summary of the acquisitions and dispositions affecting our cash flows from investing activities : 2022 the majority of cash paid for acquisitions pertained to the $ 365 million purchase of pivotal within our homeowner services group .2022 paid $ 33 million for 15 water and wastewater systems , representing approximately 14000 customers .2022 received $ 35 million for the sale of assets , including $ 27 million for the sale of the majority of the o&m contracts in our contract services group during the third quarter of 2018 .2022 the majority of cash paid for acquisitions pertained to the $ 159 million purchase of the wastewater collection and treatment system assets of the municipal authority of the city of mckeesport , pennsylvania ( the 201cmckeesport system 201d ) , excluding a $ 5 million non-escrowed deposit made in 2016 .2022 paid $ 18 million for 16 water and wastewater systems , excluding the mckeesport system and shorelands ( a stock-for-stock transaction ) , representing approximately 7000 customers .2022 received $ 15 million for the sale of assets .2022 paid $ 199 million for 15 water and wastewater systems , representing approximately 42000 customers .2022 made a non-escrowed deposit of $ 5 million related to the mckeesport system acquisition .2022 received $ 9 million for the sale of assets .as previously noted , we expect to invest between $ 8.0 billion to $ 8.6 billion from 2019 to 2023 , with $ 7.3 billion of this range for infrastructure improvements in our regulated businesses .in 2019 , we expect to .
|
what percentage of total capital expenditures were related to general structure and equipment in 2018?
|
23.4%
|
{
"answer": "23.4%",
"decimal": 0.23399999999999999,
"type": "percentage"
}
| |
liquidity and capital resources as of december 31 , 2006 , our principal sources of liquidity included cash , cash equivalents , the sale of receivables , and our revolving credit facilities , as well as the availability of commercial paper and other sources of financing through the capital markets .we had $ 2 billion of committed credit facilities available , of which there were no borrowings outstanding as of december 31 , 2006 , and we did not make any short-term borrowings under these facilities during the year .the value of the outstanding undivided interest held by investors under the sale of receivables program was $ 600 million as of december 31 , 2006 .the sale of receivables program is subject to certain requirements , including the maintenance of an investment grade bond rating .if our bond rating were to deteriorate , it could have an adverse impact on our liquidity .access to commercial paper is dependent on market conditions .deterioration of our operating results or financial condition due to internal or external factors could negatively impact our ability to utilize commercial paper as a source of liquidity .liquidity through the capital markets is also dependent on our financial stability .at both december 31 , 2006 and 2005 , we had a working capital deficit of approximately $ 1.1 billion .a working capital deficit is common in our industry and does not indicate a lack of liquidity .we maintain adequate resources to meet our daily cash requirements , and we have sufficient financial capacity to satisfy our current liabilities .financial condition cash flows millions of dollars 2006 2005 2004 .
[['cash flowsmillions of dollars', '2006', '2005', '2004'], ['cash provided by operating activities', '$ 2880', '$ 2595', '$ 2257'], ['cash used in investing activities', '-2042 ( 2042 )', '-2047 ( 2047 )', '-1732 ( 1732 )'], ['cash used in financing activities', '-784 ( 784 )', '-752 ( 752 )', '-75 ( 75 )'], ['net change in cash and cash equivalents', '$ 54', '$ -204 ( 204 )', '$ 450']]
cash provided by operating activities 2013 higher income in 2006 generated the increased cash provided by operating activities , which was partially offset by higher income tax payments , $ 150 million in voluntary pension contributions , higher material and supply inventories , and higher management incentive payments in 2006 .higher income , lower management incentive payments in 2005 ( executive bonuses , which would have been paid to individuals in 2005 , were not awarded based on company performance in 2004 and bonuses for the professional workforce that were paid out in 2005 were significantly reduced ) , and working capital performance generated higher cash from operating activities in 2005 .a voluntary pension contribution of $ 100 million in 2004 also augmented the positive year-over-year variance in 2005 as no pension contribution was made in 2005 .this improvement was partially offset by cash received in 2004 for income tax refunds .cash used in investing activities 2013 an insurance settlement for the 2005 january west coast storm and lower balances for work in process decreased the amount of cash used in investing activities in 2006 .higher capital investments and lower proceeds from asset sales partially offset this decrease .increased capital spending , partially offset by higher proceeds from asset sales , increased the amount of cash used in investing activities in 2005 compared to 2004 .cash used in financing activities 2013 the increase in cash used in financing activities primarily resulted from lower net proceeds from equity compensation plans ( $ 189 million in 2006 compared to $ 262 million in 2005 ) .the increase in 2005 results from debt issuances in 2004 and higher debt repayments in 2005 .we did not issue debt in 2005 versus $ 745 million of debt issuances in 2004 , and we repaid $ 699 million of debt in 2005 compared to $ 588 million in 2004 .the higher outflows in 2005 were partially offset by higher net proceeds from equity compensation plans ( $ 262 million in 2005 compared to $ 80 million in 2004 ) . .
|
what was the ratio of the debt issue in 2004 to the debt payment in 2005
|
[22] : we did not issue debt in 2005 versus $ 745 million of debt issuances in 2004 , and we repaid $ 699 million of debt in 2005 compared to $ 588 million in 2004.
|
{
"answer": "[22] : we did not issue debt in 2005 versus $ 745 million of debt issuances in 2004 , and we repaid $ 699 million of debt in 2005 compared to $ 588 million in 2004.",
"decimal": null,
"type": "open_ended_answer"
}
|
for every $ 1.1 of debt issued in 2004 $ 1 was paid in 2005
|
edwards lifesciences corporation notes to consolidated financial statements 2014 ( continued ) future minimum lease payments ( including interest ) under noncancelable operating leases and aggregate debt maturities at december 31 , 2004 were as follows ( in millions ) : aggregate operating debt leases maturities 2005*************************************************************** $ 13.1 $ 2014 2006*************************************************************** 11.5 2014 2007*************************************************************** 8.9 2014 2008*************************************************************** 8.0 2014 2009*************************************************************** 7.2 2014 thereafter ********************************************************** 1.1 267.1 total obligations and commitments************************************** $ 49.8 $ 267.1 included in debt at december 31 , 2004 and 2003 were unsecured notes denominated in japanese yen of a57.0 billion ( us$ 67.1 million ) and a56.0 billion ( us$ 55.8 million ) , respectively .certain facilities and equipment are leased under operating leases expiring at various dates .most of the operating leases contain renewal options .total expense for all operating leases was $ 14.0 million , $ 12.3 million , and $ 6.8 million for the years 2004 , 2003 and 2002 , respectively .11 .financial instruments and risk management fair values of financial instruments the consolidated financial statements include financial instruments whereby the fair market value of such instruments may differ from amounts reflected on a historical basis .financial instruments of the company consist of cash deposits , accounts and other receivables , investments in unconsolidated affiliates , accounts payable , certain accrued liabilities and debt .the fair values of certain investments in unconsolidated affiliates are estimated based on quoted market prices .for other investments , various methods are used to estimate fair value , including external valuations and discounted cash flows .the carrying amount of the company 2019s long-term debt approximates fair market value based on prevailing market rates .the company 2019s other financial instruments generally approximate their fair values based on the short-term nature of these instruments. .
[['', 'operating leases', 'aggregate debt maturities'], ['2005', '$ 13.1', '$ 2014'], ['2006', '11.5', '2014'], ['2007', '8.9', '2014'], ['2008', '8.0', '2014'], ['2009', '7.2', '2014'], ['thereafter', '1.1', '267.1'], ['total obligations and commitments', '$ 49.8', '$ 267.1']]
edwards lifesciences corporation notes to consolidated financial statements 2014 ( continued ) future minimum lease payments ( including interest ) under noncancelable operating leases and aggregate debt maturities at december 31 , 2004 were as follows ( in millions ) : aggregate operating debt leases maturities 2005*************************************************************** $ 13.1 $ 2014 2006*************************************************************** 11.5 2014 2007*************************************************************** 8.9 2014 2008*************************************************************** 8.0 2014 2009*************************************************************** 7.2 2014 thereafter ********************************************************** 1.1 267.1 total obligations and commitments************************************** $ 49.8 $ 267.1 included in debt at december 31 , 2004 and 2003 were unsecured notes denominated in japanese yen of a57.0 billion ( us$ 67.1 million ) and a56.0 billion ( us$ 55.8 million ) , respectively .certain facilities and equipment are leased under operating leases expiring at various dates .most of the operating leases contain renewal options .total expense for all operating leases was $ 14.0 million , $ 12.3 million , and $ 6.8 million for the years 2004 , 2003 and 2002 , respectively .11 .financial instruments and risk management fair values of financial instruments the consolidated financial statements include financial instruments whereby the fair market value of such instruments may differ from amounts reflected on a historical basis .financial instruments of the company consist of cash deposits , accounts and other receivables , investments in unconsolidated affiliates , accounts payable , certain accrued liabilities and debt .the fair values of certain investments in unconsolidated affiliates are estimated based on quoted market prices .for other investments , various methods are used to estimate fair value , including external valuations and discounted cash flows .the carrying amount of the company 2019s long-term debt approximates fair market value based on prevailing market rates .the company 2019s other financial instruments generally approximate their fair values based on the short-term nature of these instruments. .
|
what was the percentage change in total expense for all operating leases between 2003 and 2004?
|
14%
|
{
"answer": "14%",
"decimal": 0.14,
"type": "percentage"
}
| |
f0b7 positive train control 2013 in response to a legislative mandate to implement ptc , we expect to spend approximately $ 450 million during 2013 on developing and deploying ptc .we currently estimate that ptc , in accordance with implementing rules issued by the federal rail administration ( fra ) , will cost us approximately $ 2 billion by the end of the project .this includes costs for installing the new system along our tracks , upgrading locomotives to work with the new system , and adding digital data communication equipment to integrate the components of the system .f0b7 financial expectations 2013 we are cautious about the economic environment but if industrial production grows approximately 2% ( 2 % ) as projected , volume should exceed 2012 levels .even with no volume growth , we expect earnings to exceed 2012 earnings , generated by real core pricing gains , on-going network improvements and operational productivity initiatives .we also expect that a new bonus depreciation program under federal tax laws will positively impact cash flows in 2013 .results of operations operating revenues millions 2012 2011 2010 % ( % ) change 2012 v 2011 % ( % ) change 2011 v 2010 .
[['millions', '2012', '2011', '2010', '% ( % ) change 2012 v 2011', '% ( % ) change 2011 v 2010'], ['freight revenues', '$ 19686', '$ 18508', '$ 16069', '6% ( 6 % )', '15% ( 15 % )'], ['other revenues', '1240', '1049', '896', '18', '17'], ['total', '$ 20926', '$ 19557', '$ 16965', '7% ( 7 % )', '15% ( 15 % )']]
we generate freight revenues by transporting freight or other materials from our six commodity groups .freight revenues vary with volume ( carloads ) and average revenue per car ( arc ) .changes in price , traffic mix and fuel surcharges drive arc .we provide some of our customers with contractual incentives for meeting or exceeding specified cumulative volumes or shipping to and from specific locations , which we record as reductions to freight revenues based on the actual or projected future shipments .we recognize freight revenues as shipments move from origin to destination .we allocate freight revenues between reporting periods based on the relative transit time in each reporting period and recognize expenses as we incur them .other revenues include revenues earned by our subsidiaries , revenues from our commuter rail operations , and accessorial revenues , which we earn when customers retain equipment owned or controlled by us or when we perform additional services such as switching or storage .we recognize other revenues as we perform services or meet contractual obligations .freight revenues from four of our six commodity groups increased during 2012 compared to 2011 .revenues from coal and agricultural products declined during the year .our franchise diversity allowed us to take advantage of growth from shale-related markets ( crude oil , frac sand and pipe ) and strong automotive manufacturing , which offset volume declines from coal and agricultural products .arc increased 7% ( 7 % ) , driven by core pricing gains and higher fuel cost recoveries .improved fuel recovery provisions and higher fuel prices , including the lag effect of our programs ( surcharges trail fluctuations in fuel price by approximately two months ) , combined to increase revenues from fuel surcharges .freight revenues for all six commodity groups increased during 2011 compared to 2010 , while volume increased in all commodity groups except intermodal .increased demand in many market sectors , with particularly strong growth in chemicals , industrial products , and automotive shipments for the year , generated the increases .arc increased 12% ( 12 % ) , driven by higher fuel cost recoveries and core pricing gains .fuel cost recoveries include fuel surcharge revenue and the impact of resetting the base fuel price for certain traffic .higher fuel prices , volume growth , and new fuel surcharge provisions in renegotiated contracts all combined to increase revenues from fuel surcharges .our fuel surcharge programs ( excluding index-based contract escalators that contain some provision for fuel ) generated freight revenues of $ 2.6 billion , $ 2.2 billion , and $ 1.2 billion in 2012 , 2011 , and 2010 , respectively .ongoing rising fuel prices and increased fuel surcharge coverage drove the increases .additionally , fuel surcharge revenue is not entirely comparable to prior periods as we continue to convert portions of our non-regulated traffic to mileage-based fuel surcharge programs. .
|
if 2012 total revenue increases at the same pace as arc in the chemicals , industrial products , and automotive businesses , what would 2013 revenue be in millions?
|
23437
|
{
"answer": "23437",
"decimal": 23437,
"type": "float"
}
| |
notes to consolidated financial statements 1 .basis of presentation the accompanying consolidated financial statements and notes thereto have been prepared in accordance with u.s .generally accepted accounting principles ( "u.s .gaap" ) .the consolidated financial statements include the accounts of aon plc and all of its controlled subsidiaries ( "aon" or the "company" ) .all intercompany accounts and transactions have been eliminated .the consolidated financial statements include , in the opinion of management , all adjustments necessary to present fairly the company's consolidated financial position , results of operations and cash flows for all periods presented .reclassification certain amounts in prior years' consolidated financial statements and related notes have been reclassified to conform to the 2015 presentation .in prior periods , long-term investments were included in investments in the consolidated statement of financial position .these amounts are now included in other non-current assets in the consolidated statement of financial position , as shown in note 3 to these consolidated financial statements .long-term investments were $ 135 million at december 31 , 2015 and $ 143 million at december 31 , 2014 .in prior periods , prepaid pensions were included in other non-current assets in the consolidated statement of financial position .these amounts are now separately disclosed in the consolidated statement of financial position .prepaid pensions were $ 1033 million at december 31 , 2015 and $ 933 million at december 31 , 2014 .upon vesting of certain share-based payment arrangements , employees may elect to use a portion of the shares to satisfy tax withholding requirements , in which case aon makes a payment to the taxing authority on the employee 2019s behalf and remits the remaining shares to the employee .the company has historically presented amounts due to taxing authorities within cash flows from operating activities in the consolidated statements of cash flows .the amounts are now included in 201cissuance of shares for employee benefit plans 201d within cash flows from financing activities .the company believes this presentation provides greater clarity into the operating and financing activities of the company as the substance and accounting for these transactions is that of a share repurchase .it also aligns the company 2019s presentation to be consistent with industry practice .amounts reported in issuance of shares for employee benefit plans were $ 227 million , $ 170 million , and $ 120 million , respectively , for the years ended december 31 , 2015 , 2014 and 2013 .these amounts , which were reclassified from accounts payable and accrued liabilities and other assets and liabilities , were $ 85 million and $ 85 million in 2014 , and $ 62 million and $ 58 million in 2013 , respectively .changes to the presentation in the consolidated statements of cash flows for 2014 and 2013 were made related to certain line items within financing activities .the following line items and respective amounts have been aggregated in a new line item titled 201cnoncontrolling interests and other financing activities 201d within financing activities. .
[['years ended december 31,', '2014', '2013'], ['purchases of shares from noncontrolling interests', '3', '-8 ( 8 )'], ['dividends paid to noncontrolling interests', '-24 ( 24 )', '-19 ( 19 )'], ['proceeds from sale-leaseback', '25', '2014']]
use of estimates the preparation of the accompanying consolidated financial statements in conformity with u.s .gaap requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities , disclosures of contingent assets and liabilities at the date of the financial statements , and the reported amounts of reserves and expenses .these estimates and assumptions are based on management's best estimates and judgments .management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors , including the current economic environment .management believes its estimates to be reasonable given the current facts available .aon adjusts such estimates and assumptions when facts and circumstances dictate .illiquid credit markets , volatile equity markets , and foreign currency exchange rate movements increase the uncertainty inherent in such estimates and assumptions .as future events and their effects cannot be determined , among other factors , with precision , actual results could differ significantly from these estimates .changes in estimates resulting from continuing changes in the economic environment would , if applicable , be reflected in the financial statements in future periods. .
|
what was the change in the long-term investments from 2014 to 2015 in millions
|
-8
|
{
"answer": "-8",
"decimal": -8,
"type": "float"
}
| |
2022 expand client relationships - the overall market we serve continues to gravitate beyond single-application purchases to multi-solution partnerships .as the market dynamics shift , we expect our clients and prospects to rely more on our multidimensional service offerings .our leveraged solutions and processing expertise can produce meaningful value and cost savings for our clients through more efficient operating processes , improved service quality and convenience for our clients' customers .2022 build global diversification - we continue to deploy resources in global markets where we expect to achieve meaningful scale .revenues by segment the table below summarizes our revenues by reporting segment ( in millions ) : .
[['', '2017', '2016', '2015'], ['ifs', '$ 4630', '$ 4525', '$ 3809'], ['gfs', '4138', '4250', '2361'], ['corporate and other', '355', '466', '426'], ['total consolidated revenues', '$ 9123', '$ 9241', '$ 6596']]
integrated financial solutions ( "ifs" ) the ifs segment is focused primarily on serving north american regional and community bank and savings institutions for transaction and account processing , payment solutions , channel solutions , digital channels , fraud , risk management and compliance solutions , lending and wealth and retirement solutions , and corporate liquidity , capitalizing on the continuing trend to outsource these solutions .clients in this segment include regional and community banks , credit unions and commercial lenders , as well as government institutions , merchants and other commercial organizations .these markets are primarily served through integrated solutions and characterized by multi-year processing contracts that generate highly recurring revenues .the predictable nature of cash flows generated from this segment provides opportunities for further investments in innovation , integration , information and security , and compliance in a cost-effective manner .our solutions in this segment include : 2022 core processing and ancillary applications .our core processing software applications are designed to run banking processes for our financial institution clients , including deposit and lending systems , customer management , and other central management systems , serving as the system of record for processed activity .our diverse selection of market- focused core systems enables fis to compete effectively in a wide range of markets .we also offer a number of services that are ancillary to the primary applications listed above , including branch automation , back-office support systems and compliance support .2022 digital solutions , including internet , mobile and ebanking .our comprehensive suite of retail delivery applications enables financial institutions to integrate and streamline customer-facing operations and back-office processes , thereby improving customer interaction across all channels ( e.g. , branch offices , internet , atm , mobile , call centers ) .fis' focus on consumer access has driven significant market innovation in this area , with multi-channel and multi-host solutions and a strategy that provides tight integration of services and a seamless customer experience .fis is a leader in mobile banking solutions and electronic banking enabling clients to manage banking and payments through the internet , mobile devices , accounting software and telephone .our corporate electronic banking solutions provide commercial treasury capabilities including cash management services and multi-bank collection and disbursement services that address the specialized needs of corporate clients .fis systems provide full accounting and reconciliation for such transactions , serving also as the system of record. .
|
what is the growth rate in consolidated revenues from 2016 to 2017?
|
-1.3%
|
{
"answer": "-1.3%",
"decimal": -0.013000000000000001,
"type": "percentage"
}
| |
skyworks solutions , inc .notes to consolidated financial statements 2014 ( continued ) maintained a valuation allowance of $ 47.0 million .this valuation allowance is comprised of $ 33.6 million related to u.s .state tax credits , of which $ 3.6 million are state tax credits acquired from aati in fiscal year 2012 , and $ 13.4 million related to foreign deferred tax assets .if these benefits are recognized in a future period the valuation allowance on deferred tax assets will be reversed and up to a $ 46.6 million income tax benefit , and up to a $ 0.4 million reduction to goodwill may be recognized .the company will need to generate $ 209.0 million of future united states federal taxable income to utilize our united states deferred tax assets as of september 28 , 2012 .deferred tax assets are recognized for foreign operations when management believes it is more likely than not that the deferred tax assets will be recovered during the carry forward period .the company will continue to assess its valuation allowance in future periods .as of september 28 , 2012 , the company has united states federal net operating loss carry forwards of approximately $ 74.3 million , including $ 29.5 million related to the acquisition of sige , which will expire at various dates through 2030 and $ 28.1 million related to the acquisition of aati , which will expire at various dates through 2031 .the utilization of these net operating losses is subject to certain annual limitations as required under internal revenue code section 382 and similar state income tax provisions .the company also has united states federal income tax credit carry forwards of $ 37.8 million , of which $ 30.4 million of federal income tax credit carry forwards have not been recorded as a deferred tax asset .the company also has state income tax credit carry forwards of $ 33.6 million , for which the company has provided a valuation allowance .the united states federal tax credits expire at various dates through 2032 .the state tax credits relate primarily to california research tax credits which can be carried forward indefinitely .the company has continued to expand its operations and increase its investments in numerous international jurisdictions .these activities will increase the company 2019s earnings attributable to foreign jurisdictions .as of september 28 , 2012 , no provision has been made for united states federal , state , or additional foreign income taxes related to approximately $ 371.5 million of undistributed earnings of foreign subsidiaries which have been or are intended to be permanently reinvested .it is not practicable to determine the united states federal income tax liability , if any , which would be payable if such earnings were not permanently reinvested .the company 2019s gross unrecognized tax benefits totaled $ 52.4 million and $ 32.1 million as of september 28 , 2012 and september 30 , 2011 , respectively .of the total unrecognized tax benefits at september 28 , 2012 , $ 38.8 million would impact the effective tax rate , if recognized .the remaining unrecognized tax benefits would not impact the effective tax rate , if recognized , due to the company 2019s valuation allowance and certain positions which were required to be capitalized .there are no positions which the company anticipates could change within the next twelve months .a reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows ( in thousands ) : unrecognized tax benefits .
[['', 'unrecognized tax benefits'], ['balance at september 30 2011', '$ 32136'], ['increases based on positions related to prior years', '9004'], ['increases based on positions related to current year', '11265'], ['decreases relating to settlements with taxing authorities', '2014'], ['decreases relating to lapses of applicable statutes of limitations', '-25 ( 25 )'], ['balance at september 28 2012', '$ 52380']]
page 114 annual report .
|
what was the percentage change in the company 2019s gross unrecognized tax benefits from 2011 to 2012
|
63.2%
|
{
"answer": "63.2%",
"decimal": 0.632,
"type": "percentage"
}
| |
during fiscal 2006 , we repurchased 19 million shares of common stock for an aggregate purchase price of $ 892 million , of which $ 7 million settled after the end of our fiscal year .in fiscal 2005 , we repurchased 17 million shares of common stock for an aggregate purchase price of $ 771 million .a total of 146 million shares were held in treasury at may 28 , 2006 .we also used cash from operations to repay $ 189 million in outstanding debt in fiscal 2006 .in fiscal 2005 , we repaid nearly $ 2.2 billion of debt , including the purchase of $ 760 million principal amount of our 6 percent notes due in 2012 .fiscal 2005 debt repurchase costs were $ 137 million , consisting of $ 73 million of noncash interest rate swap losses reclassified from accumulated other comprehen- sive income , $ 59 million of purchase premium and $ 5 million of noncash unamortized cost of issuance expense .capital structure in millions may 28 , may 29 .
[['in millions', 'may 282006', 'may 292005'], ['notes payable', '$ 1503', '$ 299'], ['current portion of long-term debt', '2131', '1638'], ['long-term debt', '2415', '4255'], ['total debt', '6049', '6192'], ['minority interests', '1136', '1133'], ['stockholders 2019 equity', '5772', '5676'], ['total capital', '$ 12957', '$ 13001']]
we have $ 2.1 billion of long-term debt maturing in the next 12 months and classified as current , including $ 131 million that may mature in fiscal 2007 based on the put rights of those note holders .we believe that cash flows from operations , together with available short- and long- term debt financing , will be adequate to meet our liquidity and capital needs for at least the next 12 months .on october 28 , 2005 , we repurchased a significant portion of our zero coupon convertible debentures pursuant to put rights of the holders for an aggregate purchase price of $ 1.33 billion , including $ 77 million of accreted original issue discount .these debentures had an aggregate prin- cipal amount at maturity of $ 1.86 billion .we incurred no gain or loss from this repurchase .as of may 28 , 2006 , there were $ 371 million in aggregate principal amount at matu- rity of the debentures outstanding , or $ 268 million of accreted value .we used proceeds from the issuance of commercial paper to fund the purchase price of the deben- tures .we also have reclassified the remaining zero coupon convertible debentures to long-term debt based on the october 2008 put rights of the holders .on march 23 , 2005 , we commenced a cash tender offer for our outstanding 6 percent notes due in 2012 .the tender offer resulted in the purchase of $ 500 million principal amount of the notes .subsequent to the expiration of the tender offer , we purchased an additional $ 260 million prin- cipal amount of the notes in the open market .the aggregate purchases resulted in the debt repurchase costs as discussed above .our minority interests consist of interests in certain of our subsidiaries that are held by third parties .general mills cereals , llc ( gmc ) , our subsidiary , holds the manufac- turing assets and intellectual property associated with the production and retail sale of big g ready-to-eat cereals , progresso soups and old el paso products .in may 2002 , one of our wholly owned subsidiaries sold 150000 class a preferred membership interests in gmc to an unrelated third-party investor in exchange for $ 150 million , and in october 2004 , another of our wholly owned subsidiaries sold 835000 series b-1 preferred membership interests in gmc in exchange for $ 835 million .all interests in gmc , other than the 150000 class a interests and 835000 series b-1 interests , but including all managing member inter- ests , are held by our wholly owned subsidiaries .in fiscal 2003 , general mills capital , inc .( gm capital ) , a subsidiary formed for the purpose of purchasing and collecting our receivables , sold $ 150 million of its series a preferred stock to an unrelated third-party investor .the class a interests of gmc receive quarterly preferred distributions at a floating rate equal to ( i ) the sum of three- month libor plus 90 basis points , divided by ( ii ) 0.965 .this rate will be adjusted by agreement between the third- party investor holding the class a interests and gmc every five years , beginning in june 2007 .under certain circum- stances , gmc also may be required to be dissolved and liquidated , including , without limitation , the bankruptcy of gmc or its subsidiaries , failure to deliver the preferred distributions , failure to comply with portfolio requirements , breaches of certain covenants , lowering of our senior debt rating below either baa3 by moody 2019s or bbb by standard & poor 2019s , and a failed attempt to remarket the class a inter- ests as a result of a breach of gmc 2019s obligations to assist in such remarketing .in the event of a liquidation of gmc , each member of gmc would receive the amount of its then current capital account balance .the managing member may avoid liquidation in most circumstances by exercising an option to purchase the class a interests .the series b-1 interests of gmc are entitled to receive quarterly preferred distributions at a fixed rate of 4.5 percent per year , which is scheduled to be reset to a new fixed rate through a remarketing in october 2007 .beginning in october 2007 , the managing member of gmc may elect to repurchase the series b-1 interests for an amount equal to the holder 2019s then current capital account balance plus any applicable make-whole amount .gmc is not required to purchase the series b-1 interests nor may these investors put these interests to us .the series b-1 interests will be exchanged for shares of our perpetual preferred stock upon the occurrence of any of the following events : our senior unsecured debt rating falling below either ba3 as rated by moody 2019s or bb- as rated by standard & poor 2019s or fitch , inc. .
|
what is the average price per share for the repurchased shares during 2005?
|
45.35
|
{
"answer": "45.35",
"decimal": 45.35,
"type": "float"
}
| |
other income and expense for the three fiscal years ended september 28 , 2002 are as follows ( in millions ) : gains and losses on non-current investments investments categorized as non-current debt and equity investments on the consolidated balance sheet are in equity and debt instruments of public companies .the company's non-current debt and equity investments , and certain investments in private companies carried in other assets , have been categorized as available-for-sale requiring that they be carried at fair value with unrealized gains and losses , net of taxes , reported in equity as a component of accumulated other comprehensive income .however , the company recognizes an impairment charge to earnings in the event a decline in fair value below the cost basis of one of these investments is determined to be other-than-temporary .the company includes recognized gains and losses resulting from the sale or from other-than-temporary declines in fair value associated with these investments in other income and expense .further information related to the company's non-current debt and equity investments may be found in part ii , item 8 of this form 10-k at note 2 of notes to consolidated financial statements .during 2002 , the company determined that declines in the fair value of certain of these investments were other-than-temporary .as a result , the company recognized a $ 44 million charge to earnings to write-down the basis of its investment in earthlink , inc .( earthlink ) , a $ 6 million charge to earnings to write-down the basis of its investment in akamai technologies , inc .( akamai ) , and a $ 15 million charge to earnings to write-down the basis of its investment in a private company investment .these losses in 2002 were partially offset by the sale of 117000 shares of earthlink stock for net proceeds of $ 2 million and a gain before taxes of $ 223000 , the sale of 250000 shares of akamai stock for net proceeds of $ 2 million and a gain before taxes of $ 710000 , and the sale of approximately 4.7 million shares of arm holdings plc ( arm ) stock for both net proceeds and a gain before taxes of $ 21 million .during 2001 , the company sold a total of approximately 1 million shares of akamai stock for net proceeds of $ 39 million and recorded a gain before taxes of $ 36 million , and sold a total of approximately 29.8 million shares of arm stock for net proceeds of $ 176 million and recorded a gain before taxes of $ 174 million .these gains during 2001 were partially offset by a $ 114 million charge to earnings that reflected an other- than-temporary decline in the fair value of the company's investment in earthlink and an $ 8 million charge that reflected an other-than- temporary decline in the fair value of certain private company investments .during 2000 , the company sold a total of approximately 45.2 million shares of arm stock for net proceeds of $ 372 million and a gain before taxes of $ 367 million .the combined carrying value of the company's investments in earthlink , akamai , and arm as of september 28 , 2002 , was $ 39 million .the company believes it is likely there will continue to be significant fluctuations in the fair value of these investments in the future .accounting for derivatives and cumulative effect of accounting change on october 1 , 2000 , the company adopted statement of financial accounting standard ( sfas ) no .133 , accounting for derivative instruments and hedging activities .sfas no .133 established accounting and reporting standards for derivative instruments , hedging activities , and exposure definition .net of the related income tax effect of approximately $ 5 million , adoption of sfas no .133 resulted in a favorable cumulative-effect-type adjustment to net income of approximately $ 12 million for the first quarter of 2001 .the $ 17 million gross transition adjustment was comprised of a $ 23 million favorable adjustment for the restatement to fair value of the derivative component of the company's investment in samsung electronics co. , ltd .( samsung ) , partially offset by the unfavorable adjustments to certain foreign currency and interest rate derivatives .sfas no .133 also required the company to adjust the carrying value of the derivative component of its investment in samsung to earnings during the first quarter of 2001 , the before tax effect of which was an unrealized loss of approximately $ 13 million .interest and other income , net net interest and other income was $ 112 million in fiscal 2002 , compared to $ 217 million in fiscal 2001 .this $ 105 million or 48% ( 48 % ) decrease is .
[['', '2002', '2001', '2000'], ['gains ( losses ) on non-current investments net', '$ -42 ( 42 )', '$ 88', '$ 367'], ['unrealized loss on convertible securities', '$ 2014', '-13 ( 13 )', '$ 2014'], ['interest income', '$ 118', '$ 218', '$ 210'], ['interest expense', '-11 ( 11 )', '-16 ( 16 )', '-21 ( 21 )'], ['miscellaneous other income and expense', '5', '15', '14'], ['interest and other income net', '$ 112', '$ 217', '$ 203'], ['total other income and expense', '$ 70', '$ 292', '$ 570']]
total other income and expense .
|
what was the change in millions of total other income and expense from 2001 to 2002?
|
-222
|
{
"answer": "-222",
"decimal": -222,
"type": "float"
}
| |
hr solutions .
[['years ended december 31,', '2010', '2009', '2008'], ['revenue', '$ 2111', '$ 1267', '$ 1356'], ['operating income', '234', '203', '208'], ['operating margin', '11.1% ( 11.1 % )', '16.0% ( 16.0 % )', '15.3% ( 15.3 % )']]
in october 2010 , we completed the acquisition of hewitt , one of the world 2019s leading human resource consulting and outsourcing companies .hewitt operates globally together with aon 2019s existing consulting and outsourcing operations under the newly created aon hewitt brand .hewitt 2019s operating results are included in aon 2019s results of operations beginning october 1 , 2010 .our hr solutions segment generated approximately 25% ( 25 % ) of our consolidated total revenues in 2010 and provides a broad range of human capital services , as follows : consulting services : 2022 health and benefits advises clients about how to structure , fund , and administer employee benefit programs that attract , retain , and motivate employees .benefits consulting includes health and welfare , executive benefits , workforce strategies and productivity , absence management , benefits administration , data-driven health , compliance , employee commitment , investment advisory and elective benefits services .2022 retirement specializes in global actuarial services , defined contribution consulting , investment consulting , tax and erisa consulting , and pension administration .2022 compensation focuses on compensatory advisory/counsel including : compensation planning design , executive reward strategies , salary survey and benchmarking , market share studies and sales force effectiveness , with special expertise in the financial services and technology industries .2022 strategic human capital delivers advice to complex global organizations on talent , change and organizational effectiveness issues , including talent strategy and acquisition , executive on-boarding , performance management , leadership assessment and development , communication strategy , workforce training and change management .outsourcing services : 2022 benefits outsourcing applies our hr expertise primarily through defined benefit ( pension ) , defined contribution ( 401 ( k ) ) , and health and welfare administrative services .our model replaces the resource-intensive processes once required to administer benefit plans with more efficient , effective , and less costly solutions .2022 human resource business processing outsourcing ( 2018 2018hr bpo 2019 2019 ) provides market-leading solutions to manage employee data ; administer benefits , payroll and other human resources processes ; and record and manage talent , workforce and other core hr process transactions as well as other complementary services such as absence management , flexible spending , dependent audit and participant advocacy .beginning in late 2008 , the disruption in the global credit markets and the deterioration of the financial markets created significant uncertainty in the marketplace .weak economic conditions globally continued throughout 2010 .the prolonged economic downturn is adversely impacting our clients 2019 financial condition and therefore the levels of business activities in the industries and geographies where we operate .while we believe that the majority of our practices are well positioned to manage through this time , these challenges are reducing demand for some of our services and putting .
|
what is the growth rate in operating income of hr solutions from 2009 to 2010?
|
15.3%
|
{
"answer": "15.3%",
"decimal": 0.153,
"type": "percentage"
}
| |
item 11 2014executive compensation we incorporate by reference in this item 11 the information relating to executive and director compensation contained under the headings 201cother information about the board and its committees , 201d 201ccompensation and other benefits 201d and 201creport of the compensation committee 201d from our proxy statement to be delivered in connection with our 2013 annual meeting of shareholders to be held on november 20 , 2013 .item 12 2014security ownership of certain beneficial owners and management and related stockholder matters we incorporate by reference in this item 12 the information relating to ownership of our common stock by certain persons contained under the headings 201ccommon stock ownership of management 201d and 201ccommon stock ownership by certain other persons 201d from our proxy statement to be delivered in connection with our 2013 annual meeting of shareholders to be held on november 20 , 2013 .the following table provides certain information as of may 31 , 2013 concerning the shares of the company 2019s common stock that may be issued under existing equity compensation plans .for more information on these plans , see note 11 to notes to consolidated financial statements .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 : 1765510 $ 34.92 7927210 ( 1 ) equity compensation plans not approved by security holders : 2014 2014 2014 .
[['plan category', 'number of securities to be issued upon exercise of outstanding options warrants and rights ( a )', 'weighted-average exerciseprice of outstanding options warrants and rights ( b )', 'number of securitiesremaining available forfuture issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )', ''], ['equity compensation plans approved by security holders:', '1765510', '$ 34.92', '7927210', '-1 ( 1 )'], ['equity compensation plans not approved by security holders:', '2014', '2014', '2014', ''], ['total', '1765510', '$ 34.92', '7927210', '-1 ( 1 )']]
( 1 ) also includes shares of common stock available for issuance other than upon the exercise of an option , warrant or right under the global payments inc .2000 long-term incentive plan , as amended and restated , the global payments inc .amended and restated 2005 incentive plan , amended and restated 2000 non- employee director stock option plan , global payments employee stock purchase plan and the global payments inc .2011 incentive plan .item 13 2014certain relationships and related transactions , and director independence we incorporate by reference in this item 13 the information regarding certain relationships and related transactions between us and some of our affiliates and the independence of our board of directors contained under the headings 201ccertain relationships and related transactions 201d and 201cother information about the board and its committees 201d from our proxy statement to be delivered in connection with our 2013 annual meeting of shareholders to be held on november 20 , 2013 .item 14 2014principal accounting fees and services we incorporate by reference in this item 14 the information regarding principal accounting fees and services contained under the section ratification of the reappointment of auditors from our proxy statement to be delivered in connection with our 2013 annual meeting of shareholders to be held on november 20 , 2013. .
|
what is the estimated value of the available securities for future issuance , ( in millions ) ?
|
276.82
|
{
"answer": "276.82",
"decimal": 276.82,
"type": "float"
}
| |
hologic , inc .notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) restructuring accrual as a result of the cytyc merger , the company assumed previous cytyc management approved restructuring plans designed to reduce future operating expenses by consolidating its mountain view , california operations into its existing operations in costa rica and massachusetts as well as restructuring plans relating to cytyc 2019s historical acquisitions completed in march 2007 .in connection with these plans , the company assumed a total liability of approximately $ 4658 .during the twelve months ended september 27 , 2008 , the company did not incur any additional restructuring costs related to retention costs for these employees .as a result of the third wave acquisition , the company assumed previous third wave management approved restructuring plans designed to reduce future operating expenses .in connection with these plans , the company assumed a total liability related to termination benefits of approximately $ 7509 .the company did not incur any additional restructuring costs related to retention costs for these employees from the date of acquisition through september 27 , 2008 .we anticipate that these costs will be paid in full during fiscal 2009 .additionally , the company recorded a liability related to the cytyc merger in accordance with eitf 95-3 as detailed below , primarily related to the termination of certain employees as well as minimum inventory purchase commitments and other contractual obligations for which business activities have been discontinued .during the twelve months ended september 27 , 2008 the company incurred approximately $ 6.4 million of expense related to the resignation of the chairman of the board of directors , which is not included in the table below ( see note 12 ) .changes in the restructuring accrual for the twelve months ended september 27 , 2008 were as follows : twelve months ended september 27 , 2008 termination benefits .
[['other', 'twelve months ended september 27 2008 other', 'twelve months ended september 27 2008'], ['beginning balance', '$ 2014', '$ 105'], ['cytyc balance acquired october 22 2007', '2014', '4658'], ['third wave balance acquired july 24 2008', '261', '7029'], ['provided for under eitf no . 95-3', '1820', '1020'], ['adjustments', '-382 ( 382 )', '-270 ( 270 )'], ['payments', '-817 ( 817 )', '-11233 ( 11233 )'], ['ending balance', '$ 882', '$ 1309']]
as of the dates of acquisition of aeg elektrofotografie gmbh ( 201caeg 201d ) , r2 technology , inc .( 201cr2 201d ) and suros surgical , inc .( 201csuros 201d ) ( see note 3 ) , management of the company implemented and finalized plans to involuntarily terminate certain employees of the acquired companies .these plans resulted in a liability for costs associated with an employee severance arrangement of approximately $ 3135 in accordance with eitf issue no .95-3 , recognition of liabilities in connection with a purchase business combination .as of september 29 , 2007 , all amounts other than $ 105 had been paid .the company had made full payment on this remaining liability as of september 27 , 2008 .advertising costs advertising costs are charged to operations as incurred .the company does not have any direct-response advertising .advertising costs , which include trade shows and conventions , were approximately $ 15281 , $ 6683 and $ 5003 for fiscal 2008 , 2007 and 2006 , respectively , and were included in selling and marketing expense in the consolidated statements of operations. .
|
what is the growth rate in advertising costs from 2007 to 2008?
|
128.7%
|
{
"answer": "128.7%",
"decimal": 1.287,
"type": "percentage"
}
| |
2018 a0form 10-k18 item 7 .management 2019s discussion and analysis of financial condition and results of operations .this management 2019s discussion and analysis of financial condition and results of operations should be read in conjunction with our discussion of cautionary statements and significant risks to the company 2019s business under item 1a .risk factors of the 2018 form a010-k .overview our sales and revenues for 2018 were $ 54.722 billion , a 20 a0percent increase from 2017 sales and revenues of $ 45.462 a0billion .the increase was primarily due to higher sales volume , mostly due to improved demand across all regions and across the three primary segments .profit per share for 2018 was $ 10.26 , compared to profit per share of $ 1.26 in 2017 .profit was $ 6.147 billion in 2018 , compared with $ 754 million in 2017 .the increase was primarily due to lower tax expense , higher sales volume , decreased restructuring costs and improved price realization .the increase was partially offset by higher manufacturing costs and selling , general and administrative ( sg&a ) and research and development ( r&d ) expenses and lower profit from the financial products segment .fourth-quarter 2018 sales and revenues were $ 14.342 billion , up $ 1.446 billion , or 11 percent , from $ 12.896 billion in the fourth quarter of 2017 .fourth-quarter 2018 profit was $ 1.78 per share , compared with a loss of $ 2.18 per share in the fourth quarter of 2017 .fourth-quarter 2018 profit was $ 1.048 billion , compared with a loss of $ 1.299 billion in 2017 .highlights for 2018 include : zz sales and revenues in 2018 were $ 54.722 billion , up 20 a0percent from 2017 .sales improved in all regions and across the three primary segments .zz operating profit as a percent of sales and revenues was 15.2 a0percent in 2018 , compared with 9.8 percent in 2017 .adjusted operating profit margin was 15.9 percent in 2018 , compared with 12.5 percent in 2017 .zz profit was $ 10.26 per share for 2018 , and excluding the items in the table below , adjusted profit per share was $ 11.22 .for 2017 profit was $ 1.26 per share , and excluding the items in the table below , adjusted profit per share was $ 6.88 .zz in order for our results to be more meaningful to our readers , we have separately quantified the impact of several significant items: .
[['( millions of dollars )', 'full year 2018 profit before taxes', 'full year 2018 profitper share', 'full year 2018 profit before taxes', 'profitper share'], ['profit', '$ 7822', '$ 10.26', '$ 4082', '$ 1.26'], ['restructuring costs', '386', '0.50', '1256', '1.68'], ['mark-to-market losses', '495', '0.64', '301', '0.26'], ['deferred tax valuation allowance adjustments', '2014', '-0.01 ( 0.01 )', '2014', '-0.18 ( 0.18 )'], ['u.s . tax reform impact', '2014', '-0.17 ( 0.17 )', '2014', '3.95'], ['gain on sale of equity investment', '2014', '2014', '-85 ( 85 )', '-0.09 ( 0.09 )'], ['adjusted profit', '$ 8703', '$ 11.22', '$ 5554', '$ 6.88']]
zz machinery , energy & transportation ( me&t ) operating cash flow for 2018 was about $ 6.3 billion , more than sufficient to cover capital expenditures and dividends .me&t operating cash flow for 2017 was about $ 5.5 billion .restructuring costs in recent years , we have incurred substantial restructuring costs to achieve a flexible and competitive cost structure .during 2018 , we incurred $ 386 million of restructuring costs related to restructuring actions across the company .during 2017 , we incurred $ 1.256 billion of restructuring costs with about half related to the closure of the facility in gosselies , belgium , and the remainder related to other restructuring actions across the company .although we expect restructuring to continue as part of ongoing business activities , restructuring costs should be lower in 2019 than 2018 .notes : zz glossary of terms included on pages 33-34 ; first occurrence of terms shown in bold italics .zz information on non-gaap financial measures is included on pages 42-43. .
|
what would profit per share be in 2019 with the same growth rate as 2018?\\n\\n
|
84.17
|
{
"answer": "84.17",
"decimal": 84.17,
"type": "float"
}
| |
we are continuing to invest in people and infrastructure to grow our presence in lines of businesses globally where we see an opportunity for ace to grow market share at reasonable terms .we are also continuing to invest in our enterprise risk management capability , our systems and data environment , and our research and development capabilities .critical accounting estimates our consolidated financial statements include amounts that , either by their nature or due to requirements of accounting princi- ples generally accepted in the u.s .( gaap ) , are determined using best estimates and assumptions .while we believe that the amounts included in our consolidated financial statements reflect our best judgment , actual amounts could ultimately materi- ally differ from those currently presented .we believe the items that require the most subjective and complex estimates are : 2022 unpaid loss and loss expense reserves , including long-tail asbestos and environmental ( a&e ) reserves ; 2022 future policy benefits reserves ; 2022 valuation of value of business acquired ( voba ) and amortization of deferred policy acquisition costs and voba ; 2022 the assessment of risk transfer for certain structured insurance and reinsurance contracts ; 2022 reinsurance recoverable , including a provision for uncollectible reinsurance ; 2022 impairments to the carrying value of our investment portfolio ; 2022 the valuation of deferred tax assets ; 2022 the valuation of derivative instruments related to guaranteed minimum income benefits ( gmib ) ; and 2022 the valuation of goodwill .we believe our accounting policies for these items are of critical importance to our consolidated financial statements .the following discussion provides more information regarding the estimates and assumptions required to arrive at these amounts and should be read in conjunction with the sections entitled : prior period development , asbestos and environmental and other run-off liabilities , reinsurance recoverable on ceded reinsurance , investments , net realized gains ( losses ) , and other income and expense items .unpaid losses and loss expenses as an insurance and reinsurance company , we are required , by applicable laws and regulations and gaap , to establish loss and loss expense reserves for the estimated unpaid portion of the ultimate liability for losses and loss expenses under the terms of our policies and agreements with our insured and reinsured customers .the estimate of the liabilities includes provisions for claims that have been reported but unpaid at the balance sheet date ( case reserves ) and for future obligations from claims that have been incurred but not reported ( ibnr ) at the balance sheet date ( ibnr may also include a provision for additional devel- opment on reported claims in instances where the case reserve is viewed to be potentially insufficient ) .the reserves provide for liabilities that exist for the company as of the balance sheet date .the loss reserve also includes an estimate of expenses associated with processing and settling these unpaid claims ( loss expenses ) .at december 31 , 2008 , our gross unpaid loss and loss expense reserves were $ 37.2 billion and our net unpaid loss and loss expense reserves were $ 24.2 billion .with the exception of certain structured settlements , for which the timing and amount of future claim payments are reliably determi- nable , our loss reserves are not discounted for the time value of money .in connection with such structured settlements , we carry reserves of $ 106 million ( net of discount ) .the table below presents a roll-forward of our unpaid losses and loss expenses for the indicated periods .( in millions of u.s .dollars ) losses reinsurance recoverable net losses .
[['( in millions of u.s . dollars )', 'gross losses', 'reinsurance recoverable', 'net losses'], ['balance at december 31 2006', '$ 35517', '$ 13509', '$ 22008'], ['losses and loss expenses incurred', '10831', '3480', '7351'], ['losses and loss expenses paid', '-9516 ( 9516 )', '-3582 ( 3582 )', '-5934 ( 5934 )'], ['other ( including foreign exchange revaluation )', '280', '113', '167'], ['balance at december 31 2007', '37112', '13520', '23592'], ['losses and loss expenses incurred', '10944', '3341', '7603'], ['losses and loss expenses paid', '-9899 ( 9899 )', '-3572 ( 3572 )', '-6327 ( 6327 )'], ['other ( including foreign exchange revaluation )', '-1367 ( 1367 )', '-387 ( 387 )', '-980 ( 980 )'], ['losses and loss expenses acquired', '386', '33', '353'], ['balance at december 31 2008', '$ 37176', '$ 12935', '$ 24241']]
.
|
what are is the net change in the balance of unpaid losses during 2007?
|
1584
|
{
"answer": "1584",
"decimal": 1584,
"type": "float"
}
| |
all highly liquid securities with a maturity of three months or less at the date of purchase are considered to be cash equivalents .securities with maturities greater than three months are classified as available-for-sale and are considered to be short-term investments .the carrying value of our interest-bearing instruments approximated fair value as of december 29 , 2012 .interest rates under our revolving credit facility are variable , so interest expense for periods when the credit facility is utilized could be adversely affected by changes in interest rates .interest rates under our revolving credit facility can fluctuate based on changes in market interest rates and in an interest rate margin that varies based on our consolidated leverage ratio .as of december 29 , 2012 , we had no outstanding balance on the credit facility .see note 3 in the notes to consolidated financial statements for an additional description of our credit facility .equity price risk convertible notes our 2015 notes and 2013 notes include conversion and settlement provisions that are based on the price of our common stock at conversion or at maturity of the notes .in addition , the hedges and warrants associated with these convertible notes also include settlement provisions that are based on the price of our common stock .the amount of cash we may be required to pay , or the number of shares we may be required to provide to note holders at conversion or maturity of these notes , is determined by the price of our common stock .the amount of cash or number of shares that we may receive from hedge counterparties in connection with the related hedges and the number of shares that we may be required to provide warrant counterparties in connection with the related warrants are also determined by the price of our common stock .upon the expiration of our 2015 warrants , cadence will issue shares of common stock to the purchasers of the warrants to the extent our stock price exceeds the warrant strike price of $ 10.78 at that time .the following table shows the number of shares that cadence would issue to 2015 warrant counterparties at expiration of the warrants , assuming various cadence closing stock prices on the dates of warrant expiration : shares ( in millions ) .
[['', 'shares ( in millions )'], ['$ 11.00', '0.9'], ['$ 12.00', '4.7'], ['$ 13.00', '7.9'], ['$ 14.00', '10.7'], ['$ 15.00', '13.0'], ['$ 16.00', '15.1'], ['$ 17.00', '17.0'], ['$ 18.00', '18.6'], ['$ 19.00', '20.1'], ['$ 20.00', '21.4']]
prior to the expiration of the 2015 warrants , for purposes of calculating diluted earnings per share , our diluted weighted-average shares outstanding will increase when our average closing stock price for a quarter exceeds $ 10.78 .for an additional description of our 2015 notes and 2013 notes , see note 3 in the notes to consolidated financial statements and 201cliquidity and capital resources 2014 other factors affecting liquidity and capital resources , 201d under item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations . 201d .
|
what is the percentage difference in the number of shares to be issued if the stock price closes at $ 11 compared to if it closes at $ 20?
|
278%
|
{
"answer": "278%",
"decimal": 2.78,
"type": "percentage"
}
| |
n o t e s t o c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( c o n t i n u e d ) the realization of this investment gain ( $ 5624 net of the award ) .this award , which will be paid out over a three-year period , is presented as deferred compensation award on the balance sheet .as of december 31 , 2002 , $ 1504 had been paid against this compensation award .401 ( k ) plan during august 1997 , the company implemented a 401 ( k ) savings/retirement plan ( the 201c401 ( k ) plan 201d ) to cover eligible employees of the company and any designated affiliate .the 401 ( k ) plan permits eligible employees of the company to defer up to 15% ( 15 % ) of their annual compensation , subject to cer- tain limitations imposed by the code .the employees 2019 elec- tive deferrals are immediately vested and non-forfeitable upon contribution to the 401 ( k ) plan .during 2000 , the company amended its 401 ( k ) plan to include a matching contribution , subject to erisa limitations , equal to 50% ( 50 % ) of the first 4% ( 4 % ) of annual compensation deferred by an employee .for the years ended december 31 , 2002 , 2001 and 2000 , the company made matching contributions of $ 140 , $ 116 and $ 54 , respectively .18 .commitments and contingencies the company and the operating partnership are not presently involved in any material litigation nor , to their knowledge , is any material litigation threatened against them or their properties , other than routine litigation arising in the ordinary course of business .management believes the costs , if any , incurred by the company and the operating partnership related to this litigation will not materially affect the financial position , operating results or liquidity of the company and the operating partnership .on october 24 , 2001 , an accident occurred at 215 park avenue south , a property which the company manages , but does not own .personal injury claims have been filed against the company and others by 11 persons .the company believes that there is sufficient insurance coverage to cover the cost of such claims , as well as any other personal injury or property claims which may arise .the company has entered into employment agreements with certain executives .six executives have employment agreements which expire between november 2003 and december 2007 .the cash based compensation associated with these employment agreements totals approximately $ 2125 for 2003 .during march 1998 , the company acquired an operating sub-leasehold position at 420 lexington avenue .the oper- ating sub-leasehold position requires annual ground lease payments totaling $ 6000 and sub-leasehold position pay- ments totaling $ 1100 ( excluding an operating sub-lease position purchased january 1999 ) .the ground lease and sub-leasehold positions expire 2008 .the company may extend the positions through 2029 at market rents .the property located at 1140 avenue of the americas operates under a net ground lease ( $ 348 annually ) with a term expiration date of 2016 and with an option to renew for an additional 50 years .the property located at 711 third avenue operates under an operating sub-lease which expires in 2083 .under the sub- lease , the company is responsible for ground rent payments of $ 1600 annually which increased to $ 3100 in july 2001 and will continue for the next ten years .the ground rent is reset after year ten based on the estimated fair market value of the property .in april 1988 , the sl green predecessor entered into a lease agreement for property at 673 first avenue in new york city , which has been capitalized for financial statement purposes .land was estimated to be approximately 70% ( 70 % ) of the fair market value of the property .the portion of the lease attributed to land is classified as an operating lease and the remainder as a capital lease .the initial lease term is 49 years with an option for an additional 26 years .beginning in lease years 11 and 25 , the lessor is entitled to additional rent as defined by the lease agreement .the company continues to lease the 673 first avenue prop- erty which has been classified as a capital lease with a cost basis of $ 12208 and cumulative amortization of $ 3579 and $ 3306 at december 31 , 2002 and 2001 , respectively .the fol- lowing is a schedule of future minimum lease payments under capital leases and noncancellable operating leases with initial terms in excess of one year as of december 31 , 2002 .non-cancellable operating december 31 , capital leases leases .
[['december 31,', 'capital leases', 'non-cancellable operating leases'], ['2003', '$ 1290', '$ 11982'], ['2004', '1290', '11982'], ['2005', '1290', '11982'], ['2006', '1322', '11982'], ['2007', '1416', '11982'], ['thereafter', '56406', '296277'], ['total minimum lease payments', '63014', '356187'], ['less amount representing interest', '47152', '2014'], ['present value of net minimum lease payments', '$ 15862', '$ 356187']]
19 .financial instruments : derivatives and hedging financial accounting standards board 2019s statement no .133 , 201caccounting for derivative instruments and hedging activities , 201d ( 201csfas 133 201d ) which became effective january 1 , 2001 requires the company to recognize all derivatives on the balance sheet at fair value .derivatives that are not hedges must be adjusted to fair value through income .if a derivative is a hedge , depending on the nature of the hedge , f i f t y - t w o s l g r e e n r e a l t y c o r p . .
|
for the 673 first avenue property which has been classified as a capital lease , what percent of the basis was amortized in the year december 31 , 2002?
|
29.3%
|
{
"answer": "29.3%",
"decimal": 0.293,
"type": "percentage"
}
| |
management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 156.1 in 2015 .the decrease was primarily a result of the u.s .dollar being stronger than several foreign currencies , including the australian dollar , brazilian real , canadian dollar , euro and south african rand as of december 31 , 2015 compared to december 31 , 2014. .
[['balance sheet data', 'december 31 , 2016', 'december 31 , 2015'], ['cash cash equivalents and marketable securities', '$ 1100.6', '$ 1509.7'], ['short-term borrowings', '$ 85.7', '$ 132.9'], ['current portion of long-term debt', '323.9', '1.9'], ['long-term debt', '1280.7', '1610.3'], ['total debt', '$ 1690.3', '$ 1745.1']]
liquidity outlook we expect our cash flow from operations , cash and cash equivalents to be sufficient to meet our anticipated operating requirements at a minimum for the next twelve months .we also have a committed corporate credit facility as well as uncommitted facilities available to support our operating needs .we continue to maintain a disciplined approach to managing liquidity , with flexibility over significant uses of cash , including our capital expenditures , cash used for new acquisitions , our common stock repurchase program and our common stock dividends .from time to time , we evaluate market conditions and financing alternatives for opportunities to raise additional funds or otherwise improve our liquidity profile , enhance our financial flexibility and manage market risk .our ability to access the capital markets depends on a number of factors , which include those specific to us , such as our credit rating , and those related to the financial markets , such as the amount or terms of available credit .there can be no guarantee that we would be able to access new sources of liquidity on commercially reasonable terms , or at all .funding requirements our most significant funding requirements include our operations , non-cancelable operating lease obligations , capital expenditures , acquisitions , common stock dividends , taxes and debt service .additionally , we may be required to make payments to minority shareholders in certain subsidiaries if they exercise their options to sell us their equity interests .notable funding requirements include : 2022 debt service 2013 our 2.25% ( 2.25 % ) senior notes in aggregate principal amount of $ 300.0 mature on november 15 , 2017 , and a $ 22.6 note classified within our other notes payable is due on june 30 , 2017 .we expect to use available cash to fund the retirement of the outstanding notes upon maturity .the remainder of our debt is primarily long-term , with maturities scheduled through 2024 .see the table below for the maturity schedule of our long-term debt .2022 acquisitions 2013 we paid cash of $ 52.1 , net of cash acquired of $ 13.6 , for acquisitions completed in 2016 .we also paid $ 0.5 in up-front payments and $ 59.3 in deferred payments for prior-year acquisitions as well as ownership increases in our consolidated subsidiaries .in addition to potential cash expenditures for new acquisitions , we expect to pay approximately $ 77.0 in 2017 related to prior-year acquisitions .we may also be required to pay approximately $ 31.0 in 2017 related to put options held by minority shareholders if exercised .we will continue to evaluate strategic opportunities to grow and continue to strengthen our market position , particularly in our digital and marketing services offerings , and to expand our presence in high-growth and key strategic world markets .2022 dividends 2013 during 2016 , we paid four quarterly cash dividends of $ 0.15 per share on our common stock , which corresponded to aggregate dividend payments of $ 238.4 .on february 10 , 2017 , we announced that our board of directors ( the 201cboard 201d ) had declared a common stock cash dividend of $ 0.18 per share , payable on march 15 , 2017 to holders of record as of the close of business on march 1 , 2017 .assuming we pay a quarterly dividend of $ 0.18 per share and there is no significant change in the number of outstanding shares as of december 31 , 2016 , we would expect to pay approximately $ 280.0 over the next twelve months. .
|
what is the net debt if all cash was used to repay debt?
|
589.7
|
{
"answer": "589.7",
"decimal": 589.7,
"type": "float"
}
| |
continue to be deployed as wireless service providers are beginning their investments in 3g data networks .similarly , in ghana and uganda , wireless service providers continue to build out their voice and data networks in order to satisfy increasing demand for wireless services .in south africa , where voice networks are in a more advanced stage of development , carriers are beginning to deploy 3g data networks across spectrum acquired in recent spectrum auctions .in mexico and brazil , where nationwide voice networks have also been deployed , some incumbent wireless service providers continue to invest in their 3g data networks , and recent spectrum auctions have enabled other incumbent wireless service providers to begin their initial investments in 3g data networks .in markets such as chile , peru and colombia , recent or anticipated spectrum auctions are expected to drive investment in nationwide voice and 3g data networks .in germany , our most mature international wireless market , demand is currently being driven by a government-mandated rural fourth generation network build-out , as well as other tenant initiatives to deploy next generation wireless services .we believe incremental demand for our tower sites will continue in our international markets as wireless service providers seek to remain competitive by increasing the coverage of their networks while also investing in next generation data networks .rental and management operations new site revenue growth .during the year ended december 31 , 2012 , we grew our portfolio of communications real estate through acquisitions and construction activities , including the acquisition and construction of approximately 8810 sites .in a majority of our international markets , the acquisition or construction of new sites results in increased pass-through revenues and expenses .we continue to evaluate opportunities to acquire larger communications real estate portfolios , both domestically and internationally , to determine whether they meet our risk adjusted hurdle rates and whether we believe we can effectively integrate them into our existing portfolio. .
[['new sites ( acquired or constructed )', '2012', '2011', '2010'], ['domestic', '960', '470', '950'], ['international ( 1 )', '7850', '10000', '6870']]
( 1 ) the majority of sites acquired or constructed in 2012 were in brazil , germany , india and uganda ; in 2011 were in brazil , colombia , ghana , india , mexico and south africa ; and in 2010 were in chile , colombia , india and peru .network development services segment revenue growth .as we continue to focus on growing our rental and management operations , we anticipate that our network development services revenue will continue to represent a relatively small percentage of our total revenues .through our network development services segment , we offer tower-related services , including site acquisition , zoning and permitting services and structural analysis services , which primarily support our site leasing business and the addition of new tenants and equipment on our sites , including in connection with provider network upgrades .rental and management operations expenses .direct operating expenses incurred by our domestic and international rental and management segments include direct site level expenses and consist primarily of ground rent , property taxes , repairs and maintenance , security and power and fuel costs , some of which may be passed through to our tenants .these segment direct operating expenses exclude all segment and corporate selling , general , administrative and development expenses , which are aggregated into one line item entitled selling , general , administrative and development expense in our consolidated statements of operations .in general , our domestic and international rental and management segments selling , general , administrative and development expenses do not significantly increase as a result of adding incremental tenants to our legacy sites and typically increase only modestly year-over-year .as a result , leasing additional space to new tenants on our legacy sites provides significant incremental cash flow .we may incur additional segment selling , general , administrative and development expenses as we increase our presence in geographic areas where we have recently launched operations or are focused on expanding our portfolio .our profit margin growth is therefore positively impacted by the addition of new tenants to our legacy sites and can be temporarily diluted by our development activities. .
|
in 2012 , what percent of new sites were foreign?
|
89%
|
{
"answer": "89%",
"decimal": 0.89,
"type": "percentage"
}
|
foreign = international
|
the significant changes from december 31 , 2008 to december 31 , 2009 in level 3 assets and liabilities are due to : a net decrease in trading securities of $ 10.8 billion that was driven by : 2022 net transfers of $ 6.5 billion , due mainly to the transfer of debt 2013 securities from level 3 to level 2 due to increased liquidity and pricing transparency ; and net settlements of $ 5.8 billion , due primarily to the liquidations of 2013 subprime securities of $ 4.1 billion .the change in net trading derivatives driven by : 2022 a net loss of $ 4.9 billion relating to complex derivative contracts , 2013 such as those linked to credit , equity and commodity exposures .these losses include both realized and unrealized losses during 2009 and are partially offset by gains recognized in instruments that have been classified in levels 1 and 2 ; and net increase in derivative assets of $ 4.3 billion , which includes cash 2013 settlements of derivative contracts in an unrealized loss position , notably those linked to subprime exposures .the decrease in level 3 investments of $ 6.9 billion primarily 2022 resulted from : a reduction of $ 5.0 billion , due mainly to paydowns on debt 2013 securities and sales of private equity investments ; the net transfer of investment securities from level 3 to level 2 2013 of $ 1.5 billion , due to increased availability of observable pricing inputs ; and net losses recognized of $ 0.4 billion due mainly to losses on non- 2013 marketable equity securities including write-downs on private equity investments .the decrease in securities sold under agreements to repurchase of 2022 $ 9.1 billion is driven by a $ 8.6 billion net transfers from level 3 to level 2 as effective maturity dates on structured repos have shortened .the decrease in long-term debt of $ 1.5 billion is driven mainly by 2022 $ 1.3 billion of net terminations of structured notes .transfers between level 1 and level 2 of the fair value hierarchy the company did not have any significant transfers of assets or liabilities between levels 1 and 2 of the fair value hierarchy during 2010 .items measured at fair value on a nonrecurring basis certain assets and liabilities are measured at fair value on a nonrecurring basis and therefore are not included in the tables above .these include assets measured at cost that have been written down to fair value during the periods as a result of an impairment .in addition , these assets include loans held-for-sale that are measured at locom that were recognized at fair value below cost at the end of the period .the fair value of loans measured on a locom basis is determined where possible using quoted secondary-market prices .such loans are generally classified as level 2 of the fair value hierarchy given the level of activity in the market and the frequency of available quotes .if no such quoted price exists , the fair value of a loan is determined using quoted prices for a similar asset or assets , adjusted for the specific attributes of that loan .the following table presents all loans held-for-sale that are carried at locom as of december 31 , 2010 and 2009 : in billions of dollars aggregate cost fair value level 2 level 3 .
[['in billions of dollars', 'aggregate cost', 'fair value', 'level 2', 'level 3'], ['december 31 2010', '$ 3.1', '$ 2.5', '$ 0.7', '$ 1.8'], ['december 31 2009', '$ 2.5', '$ 1.6', '$ 0.3', '$ 1.3']]
.
|
what was the ratio of the net terminations of structured notes to the decrease in long-term debt
|
0.86
|
{
"answer": "0.86",
"decimal": 0.86,
"type": "float"
}
| |
united parcel service , inc .and subsidiaries management's discussion and analysis of financial condition and results of operations liquidity and capital resources as of december 31 , 2017 , we had $ 4.069 billion in cash , cash equivalents and marketable securities .we believe that our current cash position , access to the long-term debt capital markets and cash flow generated from operations should be adequate not only for operating requirements but also to enable us to complete our capital expenditure programs and to fund dividend payments , share repurchases and long-term debt payments through the next several years .in addition , we have funds available from our commercial paper program and the ability to obtain alternative sources of financing .we regularly evaluate opportunities to optimize our capital structure , including through issuances of debt to refinance existing debt and to fund ongoing cash needs .cash flows from operating activities the following is a summary of the significant sources ( uses ) of cash from operating activities ( amounts in millions ) : .
[['', '2017', '2016', '2015'], ['net income', '$ 4910', '$ 3431', '$ 4844'], ['non-cash operating activities ( 1 )', '5776', '6444', '4122'], ['pension and postretirement plan contributions ( ups-sponsored plans )', '-7794 ( 7794 )', '-2668 ( 2668 )', '-1229 ( 1229 )'], ['hedge margin receivables and payables', '-732 ( 732 )', '-142 ( 142 )', '170'], ['income tax receivables and payables', '-550 ( 550 )', '-505 ( 505 )', '-6 ( 6 )'], ['changes in working capital and other non-current assets and liabilities', '-178 ( 178 )', '-62 ( 62 )', '-418 ( 418 )'], ['other operating activities', '47', '-25 ( 25 )', '-53 ( 53 )'], ['net cash from operating activities', '$ 1479', '$ 6473', '$ 7430']]
( 1 ) represents depreciation and amortization , gains and losses on derivative transactions and foreign exchange , deferred income taxes , provisions for uncollectible accounts , pension and postretirement benefit expense , stock compensation expense and other non-cash items .cash from operating activities remained strong throughout 2015 to 2017 .most of the variability in operating cash flows during the 2015 to 2017 time period relates to the funding of our company-sponsored pension and postretirement benefit plans ( and related cash tax deductions ) .except for discretionary or accelerated fundings of our plans , contributions to our company- sponsored pension plans have largely varied based on whether any minimum funding requirements are present for individual pension plans .2022 we made discretionary contributions to our three primary company-sponsored u.s .pension plans totaling $ 7.291 , $ 2.461 and $ 1.030 billion in 2017 , 2016 and 2015 , respectively .2022 the remaining contributions from 2015 to 2017 were largely due to contributions to our international pension plans and u.s .postretirement medical benefit plans .apart from the transactions described above , operating cash flow was impacted by changes in our working capital position , payments for income taxes and changes in hedge margin payables and receivables .cash payments for income taxes were $ 1.559 , $ 2.064 and $ 1.913 billion for 2017 , 2016 and 2015 , respectively , and were primarily impacted by the timing of current tax deductions .the net hedge margin collateral ( paid ) /received from derivative counterparties was $ ( 732 ) , $ ( 142 ) and $ 170 million during 2017 , 2016 and 2015 , respectively , due to settlements and changes in the fair value of the derivative contracts used in our currency and interest rate hedging programs .as of december 31 , 2017 , the total of our worldwide holdings of cash , cash equivalents and marketable securities were $ 4.069 billion , of which approximately $ 1.800 billion was held by foreign subsidiaries .the amount of cash , cash equivalents and marketable securities held by our u.s .and foreign subsidiaries fluctuates throughout the year due to a variety of factors , including the timing of cash receipts and disbursements in the normal course of business .cash provided by operating activities in the u.s .continues to be our primary source of funds to finance domestic operating needs , capital expenditures , share repurchases and dividend payments to shareowners .as a result of the tax act , all cash , cash equivalents and marketable securities held by foreign subsidiaries are generally available for distribution to the u.s .without any u.s .federal income taxes .any such distributions may be subject to foreign withholding and u.s .state taxes .when amounts earned by foreign subsidiaries are expected to be indefinitely reinvested , no accrual for taxes is provided. .
|
what was the percentage change in pension and postretirement plan contributions ( ups-sponsored plans ) from 2015 to 2016?
|
117%
|
{
"answer": "117%",
"decimal": 1.17,
"type": "percentage"
}
|
this points to a large increase in pension liabilities and can be a going forward drain on operating cash .
|
the company recognizes the effect of income tax positions only if sustaining those positions is more likely than not .changes in recognition or measurement are reflected in the period in which a change in judgment occurs .the company records penalties and interest related to unrecognized tax benefits in income taxes in the company 2019s consolidated statements of income .changes in accounting principles business combinations and noncontrolling interests on january 1 , 2009 , the company adopted revised principles related to business combinations and noncontrolling interests .the revised principle on business combinations applies to all transactions or other events in which an entity obtains control over one or more businesses .it requires an acquirer to recognize the assets acquired , the liabilities assumed , and any noncontrolling interest in the acquiree at the acquisition date , measured at their fair values as of that date .business combinations achieved in stages require recognition of the identifiable assets and liabilities , as well as the noncontrolling interest in the acquiree , at the full amounts of their fair values when control is obtained .this revision also changes the requirements for recognizing assets acquired and liabilities assumed arising from contingencies , and requires direct acquisition costs to be expensed .in addition , it provides certain changes to income tax accounting for business combinations which apply to both new and previously existing business combinations .in april 2009 , additional guidance was issued which revised certain business combination guidance related to accounting for contingent liabilities assumed in a business combination .the company has adopted this guidance in conjunction with the adoption of the revised principles related to business combinations .the adoption of the revised principles related to business combinations has not had a material impact on the consolidated financial statements .the revised principle related to noncontrolling interests establishes accounting and reporting standards for the noncontrolling interests in a subsidiary and for the deconsolidation of a subsidiary .the revised principle clarifies that a noncontrolling interest in a subsidiary is an ownership interest in the consolidated entity that should be reported as a separate component of equity in the consolidated statements of financial position .the revised principle requires retrospective adjustments , for all periods presented , of stockholders 2019 equity and net income for noncontrolling interests .in addition to these financial reporting changes , the revised principle provides for significant changes in accounting related to changes in ownership of noncontrolling interests .changes in aon 2019s controlling financial interests in consolidated subsidiaries that do not result in a loss of control are accounted for as equity transactions similar to treasury stock transactions .if a change in ownership of a consolidated subsidiary results in a loss of control and deconsolidation , any retained ownership interests are remeasured at fair value with the gain or loss reported in net income .in previous periods , noncontrolling interests for operating subsidiaries were reported in other general expenses in the consolidated statements of income .prior period amounts have been restated to conform to the current year 2019s presentation .the principal effect on the prior years 2019 balance sheets related to the adoption of the new guidance related to noncontrolling interests is summarized as follows ( in millions ) : .
[['as of december 31', '2008', '2007'], ['equity as previously reported', '$ 5310', '$ 6221'], ['increase for reclassification of non-controlling interests', '105', '40'], ['equity as adjusted', '$ 5415', '$ 6261']]
the revised principle also requires that net income be adjusted to include the net income attributable to the noncontrolling interests and a new separate caption for net income attributable to aon stockholders be presented in the consolidated statements of income .the adoption of this new guidance increased net income by $ 16 million and $ 13 million for 2008 and 2007 , respectively .net .
|
what is the impact of the reclassification of non-controlling interests in equity?
|
1.98%
|
{
"answer": "1.98%",
"decimal": 0.019799999999999998,
"type": "percentage"
}
|
it is the increase for reclassification of non-controlling interests divided by the original equity to calculate its percentual impact .
|
republic services , inc .notes to consolidated financial statements 2014 ( continued ) in december 2008 , the board of directors amended and restated the republic services , inc .2006 incentive stock plan ( formerly known as the allied waste industries , inc .2006 incentive stock plan ( the 2006 plan ) ) .allied 2019s shareholders approved the 2006 plan in may 2006 .the 2006 plan was amended and restated in december 2008 to reflect republic as the new sponsor of the plan , and that any references to shares of common stock are to shares of common stock of republic , and to adjust outstanding awards and the number of shares available under the plan to reflect the allied acquisition .the 2006 plan , as amended and restated , provided for the grant of non- qualified stock options , incentive stock options , shares of restricted stock , shares of phantom stock , stock bonuses , restricted stock units , stock appreciation rights , performance awards , dividend equivalents , cash awards , or other stock-based awards .awards granted under the 2006 plan prior to december 5 , 2008 became fully vested and nonforfeitable upon the closing of the allied acquisition .no further awards will be made under the 2006 stock options we use a lattice binomial option-pricing model to value our stock option grants .we recognize compensation expense on a straight-line basis over the requisite service period for each separately vesting portion of the award , or to the employee 2019s retirement eligible date , if earlier .expected volatility is based on the weighted average of the most recent one year volatility and a historical rolling average volatility of our stock over the expected life of the option .the risk-free interest rate is based on federal reserve rates in effect for bonds with maturity dates equal to the expected term of the option .we use historical data to estimate future option exercises , forfeitures ( at 3.0% ( 3.0 % ) for each of the periods presented ) and expected life of the options .when appropriate , separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes .the weighted-average estimated fair values of stock options granted during the years ended december 31 , 2014 , 2013 and 2012 were $ 5.74 , $ 5.27 and $ 4.77 per option , respectively , which were calculated using the following weighted-average assumptions: .
[['', '2014', '2013', '2012'], ['expected volatility', '27.5% ( 27.5 % )', '28.9% ( 28.9 % )', '27.8% ( 27.8 % )'], ['risk-free interest rate', '1.4% ( 1.4 % )', '0.7% ( 0.7 % )', '0.8% ( 0.8 % )'], ['dividend yield', '3.2% ( 3.2 % )', '3.2% ( 3.2 % )', '3.2% ( 3.2 % )'], ['expected life ( in years )', '4.6', '4.5', '4.5'], ['contractual life ( in years )', '7.0', '7.0', '7.0']]
.
|
what was the percentage change in the weighted-average estimated fair values of stock options granted from 2013 to 2014
|
8.9%
|
{
"answer": "8.9%",
"decimal": 0.08900000000000001,
"type": "percentage"
}
|
the percentage change is the change from one period to the next divide by the earliest period
|
the authorized costs of $ 76 are to be recovered via a surcharge over a twenty-year period beginning october 2012 .surcharges collected as of december 31 , 2015 and 2014 were $ 4 and $ 5 , respectively .in addition to the authorized costs , the company expects to incur additional costs totaling $ 34 , which will be recovered from contributions made by the california state coastal conservancy .contributions collected as of december 31 , 2015 and 2014 were $ 8 and $ 5 , respectively .regulatory balancing accounts accumulate differences between revenues recognized and authorized revenue requirements until they are collected from customers or are refunded .regulatory balancing accounts include low income programs and purchased power and water accounts .debt expense is amortized over the lives of the respective issues .call premiums on the redemption of long- term debt , as well as unamortized debt expense , are deferred and amortized to the extent they will be recovered through future service rates .purchase premium recoverable through rates is primarily the recovery of the acquisition premiums related to an asset acquisition by the company 2019s california subsidiary during 2002 , and acquisitions in 2007 by the company 2019s new jersey subsidiary .as authorized for recovery by the california and new jersey pucs , these costs are being amortized to depreciation and amortization in the consolidated statements of operations through november 2048 .tank painting costs are generally deferred and amortized to operations and maintenance expense in the consolidated statements of operations on a straight-line basis over periods ranging from five to fifteen years , as authorized by the regulatory authorities in their determination of rates charged for service .other regulatory assets include certain deferred business transformation costs , construction costs for treatment facilities , property tax stabilization , employee-related costs , business services project expenses , coastal water project costs , rate case expenditures and environmental remediation costs among others .these costs are deferred because the amounts are being recovered in rates or are probable of recovery through rates in future periods .regulatory liabilities the regulatory liabilities generally represent probable future reductions in revenues associated with amounts that are to be credited or refunded to customers through the rate-making process .the following table summarizes the composition of regulatory liabilities as of december 31: .
[['', '2015', '2014'], ['removal costs recovered through rates', '$ 311', '$ 301'], ['pension and other postretirement benefitbalancing accounts', '59', '54'], ['other', '32', '37'], ['total regulatory liabilities', '$ 402', '$ 392']]
removal costs recovered through rates are estimated costs to retire assets at the end of their expected useful life that are recovered through customer rates over the life of the associated assets .in december 2008 , the company 2019s subsidiary in new jersey , at the direction of the new jersey puc , began to depreciate $ 48 of the total balance into depreciation and amortization expense in the consolidated statements of operations via straight line amortization through november 2048 .pension and other postretirement benefit balancing accounts represent the difference between costs incurred and costs authorized by the puc 2019s that are expected to be refunded to customers. .
|
how much of the additional costs from the california state coastal conservancy is awk expected to collect in 2015?
|
24%
|
{
"answer": "24%",
"decimal": 0.24,
"type": "percentage"
}
| |
standardized maintenance based on an industry trade publication , we operate the eighth largest vocational fleet in the united states .as of december 31 , 2014 , our average fleet age in years , by line of business , was as follows : approximate number of vehicles approximate average age .
[['', 'approximate number of vehicles', 'approximate average age'], ['residential', '7600', '7'], ['commercial', '4300', '7'], ['industrial', '3900', '9'], ['total', '15800', '7.5']]
through standardization of core functions , we believe we can minimize variability in our maintenance processes resulting in higher vehicle quality while extending the service life of our fleet .we believe operating a more reliable , safer and efficient fleet will lower our operating costs .we have implemented standardized maintenance programs for approximately 60% ( 60 % ) of our fleet maintenance operations as of december 31 , 2014 .cash utilization strategy key components of our cash utilization strategy include increasing free cash flow and improving our return on invested capital .our definition of free cash flow , which is not a measure determined in accordance with united states generally accepted accounting principles ( u.s .gaap ) , is cash provided by operating activities less purchases of property and equipment , plus proceeds from sales of property and equipment as presented in our consolidated statements of cash flows .for a discussion and reconciliation of free cash flow , you should read the 201cfree cash flow 201d section of our management 2019s discussion and analysis of financial condition and results of operations contained in item 7 of this form 10-k .we believe free cash flow drives shareholder value and provides useful information regarding the recurring cash provided by our operations .free cash flow also demonstrates our ability to execute our cash utilization strategy , which includes investments in acquisitions and returning a majority of free cash flow to our shareholders through dividends and share repurchases .we are committed to an efficient capital structure and maintaining our investment grade credit ratings .we manage our free cash flow by ensuring that capital expenditures and operating asset levels are appropriate in light of our existing business and growth opportunities , and by closely managing our working capital , which consists primarily of accounts receivable , accounts payable , and accrued landfill and environmental costs .dividends in july 2003 , our board of directors initiated a quarterly cash dividend of $ 0.04 per share .our quarterly dividend has increased from time to time thereafter , the latest increase occurring in july 2014 to $ 0.28 per share , representing a 7.7% ( 7.7 % ) increase over that of the prior year .over the last 5 years , our dividend has increased at a compounded annual growth rate of 8.1% ( 8.1 % ) .we expect to continue paying quarterly cash dividends and may consider additional dividend increases if we believe they will enhance shareholder value .share repurchases in october 2013 , our board of directors added $ 650 million to the existing share repurchase authorization originally approved in november 2010 .from november 2010 to december 31 , 2014 , we used $ 1439.5 million to repurchase 46.6 million shares of our common stock at a weighted average cost per share of $ 30.88 .as of december 31 , 2014 , there were $ 360.2 million remaining under our share repurchase authorization .during 2015 , we expect to use our remaining authorization to repurchase more of our outstanding common stock. .
|
what is the ratio of the residential to the commercial number of vehicles
|
1.8
|
{
"answer": "1.8",
"decimal": 1.8,
"type": "float"
}
|
there is 1.8 residential vehicles to the commercial vehicles
|
has decreased during the period from 2002 to 2004 , principally due to the increase in earned premium and due to cost containment measures undertaken by management .in business insurance and personal lines , the expense ratio is expected to decrease further in 2005 , largely as a result of expected increases in earned premium .in specialty commercial , the expense ratio is expected to increase slightly in 2005 due to changes in the business mix , most notably the company 2019s decision in the fourth quarter of 2004 to exit the multi-peril crop insurance program which will eliminate significant expense reimbursements from the specialty commercial segment .policyholder dividend ratio : the policyholder dividend ratio is the ratio of policyholder dividends to earned premium .combined ratio : the combined ratio is the sum of the loss and loss adjustment expense ratio , the expense ratio and the policyholder dividend ratio .this ratio is a relative measurement that describes the related cost of losses and expense for every $ 100 of earned premiums .a combined ratio below 100.0 demonstrates underwriting profit ; a combined ratio above 100.0 demonstrates underwriting losses .the combined ratio has decreased from 2003 to 2004 primarily because of improvement in the expense ratio .the combined ratio in 2005 could be significantly higher or lower than the 2004 combined ratio depending on the level of catastrophe losses , but will also be impacted by changes in pricing and an expected moderation in favorable loss cost trends .catastrophe ratio : the catastrophe ratio ( a component of the loss and loss adjustment expense ratio ) represents the ratio of catastrophe losses ( net of reinsurance ) to earned premiums .a catastrophe is an event that causes $ 25 or more in industry insured property losses and affects a significant number of property and casualty policyholders and insurers .by their nature , catastrophe losses vary dramatically from year to year .based on the mix and geographic dispersion of premium written and estimates derived from various catastrophe loss models , the company 2019s expected catastrophe ratio over the long-term is 3.0 points .before considering the reduction in ongoing operation 2019s catastrophe reserves related to september 11 of $ 298 in 2004 , the catastrophe ratio in 2004 was 5.3 points .see 201crisk management strategy 201d below for a discussion of the company 2019s property catastrophe risk management program that serves to mitigate the company 2019s net exposure to catastrophe losses .combined ratio before catastrophes and prior accident year development : the combined ratio before catastrophes and prior accident year development represents the combined ratio for the current accident year , excluding the impact of catastrophes .the company believes this ratio is an important measure of the trend in profitability since it removes the impact of volatile and unpredictable catastrophe losses and prior accident year reserve development .before considering catastrophes , the combined ratio related to current accident year business has improved from 2002 to 2004 principally due to earned pricing increases and favorable claim frequency .other operations underwriting results : the other operations segment is responsible for managing operations of the hartford that have discontinued writing new or renewal business as well as managing the claims related to asbestos and environmental exposures .as such , neither earned premiums nor underwriting ratios are meaningful financial measures .instead , management believes that underwriting result is a more meaningful measure .the net underwriting loss for 2002 through 2004 is primarily due to prior accident year loss development , including $ 2.6 billion of net asbestos reserve strengthening in 2003 .reserve estimates within other operations , including estimates for asbestos and environmental claims , are inherently uncertain .refer to the other operations segment md&a for further discussion of other operation's underwriting results .total property & casualty investment earnings .
[['', '2004', '2003', '2002'], ['investment yield after-tax', '4.1% ( 4.1 % )', '4.2% ( 4.2 % )', '4.5% ( 4.5 % )'], ['net realized capital gains ( losses ) after-tax', '$ 87', '$ 165', '$ -44 ( 44 )']]
the investment return , or yield , on property & casualty 2019s invested assets is an important element of the company 2019s earnings since insurance products are priced with the assumption that premiums received can be invested for a period of time before loss and loss adjustment expenses are paid .for longer tail lines , such as workers 2019 compensation and general liability , claims are paid over several years and , therefore , the premiums received for these lines of business can generate significant investment income .him determines the appropriate allocation of investments by asset class and measures the investment yield performance for each asset class against market indices or other benchmarks .due to the emphasis on preservation of capital and the need to maintain sufficient liquidity to satisfy claim obligations , the vast majority of property and casualty 2019s invested assets have been held in fixed maturities , including , among other asset classes , corporate bonds , municipal bonds , government debt , short-term debt , mortgage- .
|
what is the total value of the investment in 2004?
|
2121.95
|
{
"answer": "2121.95",
"decimal": 2121.95,
"type": "float"
}
| |
( 2 ) the company has a master netting arrangement by counterparty with respect to derivative contracts .as of october 29 , 2011 and october 30 , 2010 , contracts in a liability position of $ 0.8 million in each year , were netted against contracts in an asset position in the consolidated balance sheets .( 3 ) equal to the accreted notional value of the debt plus the fair value of the interest rate component of the long- term debt .the fair value of the long-term debt as of october 29 , 2011 and october 30 , 2010 was $ 413.4 million and $ 416.3 million , respectively .the following methods and assumptions were used by the company in estimating its fair value disclosures for financial instruments : cash equivalents and short-term investments 2014 these investments are adjusted to fair value based on quoted market prices or are determined using a yield curve model based on current market rates .deferred compensation plan investments and other investments 2014 the fair value of these mutual fund , money market fund and equity investments are based on quoted market prices .long-term debt 2014 the fair value of long-term debt is based on quotes received from third-party banks .interest rate swap agreements 2014 the fair value of interest rate swap agreements is based on quotes received from third-party banks .these values represent the estimated amount the company would receive or pay to terminate the agreements taking into consideration current interest rates as well as the creditworthiness of the counterparty .forward foreign currency exchange contracts 2014 the estimated fair value of forward foreign currency exchange contracts , which includes derivatives that are accounted for as cash flow hedges and those that are not designated as cash flow hedges , is based on the estimated amount the company would receive if it sold these agreements at the reporting date taking into consideration current interest rates as well as the creditworthiness of the counterparty for assets and the company 2019s creditworthiness for liabilities .contingent consideration 2014 the fair value of contingent consideration was estimated utilizing the income approach and is based upon significant inputs not observable in the market .changes in the fair value of the contingent consideration subsequent to the acquisition date that are primarily driven by assumptions pertaining to the achievement of the defined milestones will be recognized in operating income in the period of the estimated fair value change .the following table summarizes the change in the fair value of the contingent consideration measured using significant unobservable inputs ( level 3 ) for fiscal 2011 : contingent consideration .
[['', 'contingent consideration'], ['balance as of october 30 2010', '$ 2014'], ['contingent consideration liability recorded', '13790'], ['fair value adjustment', '183'], ['balance as of october 29 2011', '$ 13973']]
financial instruments not recorded at fair value on a recurring basis on april 4 , 2011 , the company issued $ 375 million aggregate principal amount of 3.0% ( 3.0 % ) senior unsecured notes due april 15 , 2016 ( the 3.0% ( 3.0 % ) notes ) with semi-annual fixed interest payments due on april 15 and october 15 of each year , commencing october 15 , 2011 .the fair value of the 3.0% ( 3.0 % ) notes as of october 29 , 2011 was $ 392.8 million , based on quotes received from third-party banks .analog devices , inc .notes to consolidated financial statements 2014 ( continued ) .
|
what is the interest payment of the 3.0% ( 3.0 % ) notes?
|
5.6
|
{
"answer": "5.6",
"decimal": 5.6,
"type": "float"
}
| |
notes to consolidated financial statements jpmorgan chase & co./2009 annual report 204 on the amount of interest income recognized in the firm 2019s consolidated statements of income since that date .( b ) other changes in expected cash flows include the net impact of changes in esti- mated prepayments and reclassifications to the nonaccretable difference .on a quarterly basis , the firm updates the amount of loan principal and interest cash flows expected to be collected , incorporating assumptions regarding default rates , loss severities , the amounts and timing of prepayments and other factors that are reflective of current market conditions .probable decreases in expected loan principal cash flows trigger the recognition of impairment , which is then measured as the present value of the expected principal loss plus any related foregone interest cash flows discounted at the pool 2019s effective interest rate .impairments that occur after the acquisition date are recognized through the provision and allow- ance for loan losses .probable and significant increases in expected principal cash flows would first reverse any previously recorded allowance for loan losses ; any remaining increases are recognized prospectively as interest income .the impacts of ( i ) prepayments , ( ii ) changes in variable interest rates , and ( iii ) any other changes in the timing of expected cash flows are recognized prospectively as adjustments to interest income .disposals of loans , which may include sales of loans , receipt of payments in full by the borrower , or foreclosure , result in removal of the loan from the purchased credit-impaired portfolio .if the timing and/or amounts of expected cash flows on these purchased credit-impaired loans were determined not to be rea- sonably estimable , no interest would be accreted and the loans would be reported as nonperforming loans ; however , since the timing and amounts of expected cash flows for these purchased credit-impaired loans are reasonably estimable , interest is being accreted and the loans are being reported as performing loans .charge-offs are not recorded on purchased credit-impaired loans until actual losses exceed the estimated losses that were recorded as purchase accounting adjustments at acquisition date .to date , no charge-offs have been recorded for these loans .purchased credit-impaired loans acquired in the washington mu- tual transaction are reported in loans on the firm 2019s consolidated balance sheets .in 2009 , an allowance for loan losses of $ 1.6 billion was recorded for the prime mortgage and option arm pools of loans .the net aggregate carrying amount of the pools that have an allowance for loan losses was $ 47.2 billion at december 31 , 2009 .this allowance for loan losses is reported as a reduction of the carrying amount of the loans in the table below .the table below provides additional information about these pur- chased credit-impaired consumer loans. .
[['december 31 ( in millions )', '2009', '2008'], ['outstanding balance ( a )', '$ 103369', '$ 118180'], ['carrying amount', '79664', '88813']]
( a ) represents the sum of contractual principal , interest and fees earned at the reporting date .purchased credit-impaired loans are also being modified under the mha programs and the firm 2019s other loss mitigation programs .for these loans , the impact of the modification is incorporated into the firm 2019s quarterly assessment of whether a probable and/or signifi- cant change in estimated future cash flows has occurred , and the loans continue to be accounted for as and reported as purchased credit-impaired loans .foreclosed property the firm acquires property from borrowers through loan restructur- ings , workouts , and foreclosures , which is recorded in other assets on the consolidated balance sheets .property acquired may include real property ( e.g. , land , buildings , and fixtures ) and commercial and personal property ( e.g. , aircraft , railcars , and ships ) .acquired property is valued at fair value less costs to sell at acquisition .each quarter the fair value of the acquired property is reviewed and adjusted , if necessary .any adjustments to fair value in the first 90 days are charged to the allowance for loan losses and thereafter adjustments are charged/credited to noninterest revenue 2013other .operating expense , such as real estate taxes and maintenance , are charged to other expense .note 14 2013 allowance for credit losses the allowance for loan losses includes an asset-specific component , a formula-based component and a component related to purchased credit-impaired loans .the asset-specific component relates to loans considered to be impaired , which includes any loans that have been modified in a troubled debt restructuring as well as risk-rated loans that have been placed on nonaccrual status .an asset-specific allowance for impaired loans is established when the loan 2019s discounted cash flows ( or , when available , the loan 2019s observable market price ) is lower than the recorded investment in the loan .to compute the asset-specific component of the allowance , larger loans are evaluated individually , while smaller loans are evaluated as pools using historical loss experience for the respective class of assets .risk-rated loans ( primarily wholesale loans ) are pooled by risk rating , while scored loans ( i.e. , consumer loans ) are pooled by product type .the firm generally measures the asset-specific allowance as the difference between the recorded investment in the loan and the present value of the cash flows expected to be collected , dis- counted at the loan 2019s original effective interest rate .subsequent changes in measured impairment due to the impact of discounting are reported as an adjustment to the provision for loan losses , not as an adjustment to interest income .an asset-specific allowance for an impaired loan with an observable market price is measured as the difference between the recorded investment in the loan and the loan 2019s fair value .certain impaired loans that are determined to be collateral- dependent are charged-off to the fair value of the collateral less costs to sell .when collateral-dependent commercial real-estate loans are determined to be impaired , updated appraisals are typi- cally obtained and updated every six to twelve months .the firm also considers both borrower- and market-specific factors , which .
|
for 2009 , what is the average reserve percentage for the prime mortgage and option arm pools of loans?\\n\\n
|
3.4%
|
{
"answer": "3.4%",
"decimal": 0.034,
"type": "percentage"
}
| |
future impairments would be recorded in income from continuing operations .the statement provides specific guidance for testing goodwill for impairment .the company had $ 3.2 billion of goodwill at december 31 , 2001 .goodwill amortization was $ 62 million for the year ended december 31 , 2001 .the company is currently assessing the impact of sfas no .142 on its financial position and results of operations .in june 2001 , the fasb issued sfas no .143 , 2018 2018accounting for asset retirement obligations , 2019 2019 which addresses financial accounting and reporting for obligations associated with the retirement of tangible long-lived assets and the associated asset retirement costs .this statement is effective for financial statements issued for fiscal years beginning after june 15 , 2002 .the statement requires recognition of legal obligations associated with the retirement of a long-lived asset , except for certain obligations of lessees .the company is currently assessing the impact of sfas no .143 on its financial position and results of operations .in december 2001 , the fasb revised its earlier conclusion , derivatives implementation group ( 2018 2018dig 2019 2019 ) issue c-15 , related to contracts involving the purchase or sale of electricity .contracts for the purchase or sale of electricity , both forward and option contracts , including capacity contracts , may qualify for the normal purchases and sales exemption and are not required to be accounted for as derivatives under sfas no .133 .in order for contracts to qualify for this exemption , they must meet certain criteria , which include the requirement for physical delivery of the electricity to be purchased or sold under the contract only in the normal course of business .additionally , contracts that have a price based on an underlying that is not clearly and closely related to the electricity being sold or purchased or that are denominated in a currency that is foreign to the buyer or seller are not considered normal purchases and normal sales and are required to be accounted for as derivatives under sfas no .133 .this revised conclusion is effective beginning april 1 , 2002 .the company is currently assessing the impact of revised dig issue c-15 on its financial condition and results of operations .2001 compared to 2000 revenues revenues increased $ 1.8 billion , or 24% ( 24 % ) to $ 9.3 billion in 2001 from $ 7.5 billion in 2000 .the increase in revenues is due to the acquisition of new businesses , new operations from greenfield projects and positive improvements from existing operations .excluding businesses acquired or that commenced commercial operations in 2001 or 2000 , revenues increased 5% ( 5 % ) to $ 7.1 billion in 2001 .the following table shows the revenue of each segment: .
[['', '2001', '2000', '% ( % ) change'], ['contract generation', '$ 2.5 billion', '$ 1.7 billion', '47% ( 47 % )'], ['competitive supply', '$ 2.7 billion', '$ 2.4 billion', '13% ( 13 % )'], ['large utilities', '$ 2.4 billion', '$ 2.1 billion', '14% ( 14 % )'], ['growth distribution', '$ 1.7 billion', '$ 1.3 billion', '31% ( 31 % )']]
contract generation revenues increased $ 800 million , or 47% ( 47 % ) to $ 2.5 billion in 2001 from $ 1.7 billion in 2000 , principally resulting from the addition of revenues attributable to businesses acquired during 2001 or 2000 .excluding businesses acquired or that commenced commercial operations in 2001 or 2000 , contract generation revenues increased 2% ( 2 % ) to $ 1.7 billion in 2001 .the increase in contract generation segment revenues was due primarily to increases in south america , europe/africa and asia .in south america , contract generation segment revenues increased $ 472 million due mainly to the acquisition of gener and the full year of operations at uruguaiana offset by reduced revenues at tiete from the electricity rationing in brazil .in europe/africa , contract generation segment revenues increased $ 88 million , and the acquisition of a controlling interest in kilroot during 2000 was the largest contributor to the increase .in asia , contract generation segment revenues increased $ 96 million , and increased operations from our ecogen peaking plant was the most significant contributor to the .
|
based on the current amount of annual amortization , how many years will it take to fully amortize the goodwill balance at december 31 , 2001?
|
52.4
|
{
"answer": "52.4",
"decimal": 52.4,
"type": "float"
}
| |
transfer agent and registrar for common stock the transfer agent and registrar for our common stock is : computershare shareowner services llc 480 washington boulevard 29th floor jersey city , new jersey 07310 telephone : ( 877 ) 363-6398 sales of unregistered securities not applicable .repurchase of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2013 to december 31 , 2013 .total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 .
[['', 'total number ofshares ( or units ) purchased1', 'average price paidper share ( or unit ) 2', 'total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3', 'maximum number ( or approximate dollar value ) of shares ( or units ) that mayyet be purchased under theplans or programs3'], ['october 1 - 31', '3351759', '$ 16.63', '3350692', '$ 263702132'], ['november 1 - 30', '5202219', '$ 17.00', '5202219', '$ 175284073'], ['december 1 - 31', '3323728', '$ 17.07', '3323728', '$ 118560581'], ['total', '11877706', '$ 16.91', '11876639', '']]
1 includes shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) .we repurchased 1067 withheld shares in october 2013 .no withheld shares were purchased in november or december of 2013 .2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum of the applicable period of the aggregate value of the tax withholding obligations and the aggregate amount we paid for shares acquired under our stock repurchase program , described in note 6 to the consolidated financial statements , by the sum of the number of withheld shares and the number of shares acquired in our stock repurchase program .3 in february 2013 , the board authorized a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2013 share repurchase program 201d ) .in march 2013 , the board authorized an increase in the amount available under our 2013 share repurchase program up to $ 500.0 million , excluding fees , of our common stock .on february 14 , 2014 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock .the new authorization is in addition to any amounts remaining available for repurchase under the 2013 share repurchase program .there is no expiration date associated with the share repurchase programs. .
|
by what amount did the treasury stock increase with the total repurchase of shares during the last three months , ( in millions ) ?
|
200.9
|
{
"answer": "200.9",
"decimal": 200.9,
"type": "float"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 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 ) : .
[['', '2012', '2011', '2010'], ['balance as of january 1', '$ 24412', '$ 22505', '$ 28520'], ['current year increases', '8028', '17008', '16219'], ['write-offs net of recoveries and other', '-12034 ( 12034 )', '-15101 ( 15101 )', '-22234 ( 22234 )'], ['balance as of december 31', '$ 20406', '$ 24412', '$ 22505']]
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 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 during the year ended december 31 , 2010 .as a result of the renegotiation of the company 2019s agreements with grupo iusacell , s.a .de c.v .( 201ciusacell 201d ) , which included , among other changes , converting iusacell 2019s contractual obligations to the company from u.s .dollars to mexican pesos , the company 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 equity .the change in functional currency from u.s .dollars to mexican pesos gave rise to a decrease in the net value of certain non-monetary assets and liabilities .the aggregate impact on such assets and liabilities was $ 33.6 million with an offsetting decrease in accumulated other comprehensive income .the functional currency of the company 2019s other foreign operating subsidiaries is also the respective local currency .all assets and liabilities held by the subsidiaries are translated into u.s .dollars at the exchange rate in effect at the end of the applicable fiscal reporting period .revenues and expenses are translated at the average monthly exchange rates .the cumulative translation effect is included in equity as a component of accumulated other comprehensive income .foreign currency transaction gains and losses are recognized in the consolidated statements of operations and are the result of transactions of a subsidiary being denominated in a currency other than its functional currency .cash and cash equivalents 2014cash and cash equivalents include cash on hand , demand deposits and short-term investments , including money market funds , with remaining maturities of three months or less when acquired , whose cost approximates fair value .restricted cash 2014the company classifies as restricted cash all cash pledged as collateral to secure obligations and all cash whose use is otherwise limited by contractual provisions , including cash on deposit in reserve accounts relating to the commercial mortgage pass-through certificates , series 2007-1 issued in the company 2019s securitization transaction and the secured cellular site revenue notes , series 2010-1 class c , series 2010-2 class c and series 2010-2 class f , assumed by the company as a result of the acquisition of certain legal entities from unison holdings , llc and unison site management ii , l.l.c .( collectively , 201cunison 201d ) . .
|
in 2012 what was the percentage change in the allowances
|
-16.4%
|
{
"answer": "-16.4%",
"decimal": -0.16399999999999998,
"type": "percentage"
}
| |
notes to consolidated financial statements ( continued ) note 8 2014commitments and contingencies ( continued ) provide renewal options for terms of 3 to 7 additional years .leases for retail space are for terms of 5 to 20 years , the majority of which are for 10 years , and often contain multi-year renewal options .as of september 29 , 2007 , the company 2019s total future minimum lease payments under noncancelable operating leases were $ 1.4 billion , of which $ 1.1 billion related to leases for retail space .rent expense under all operating leases , including both cancelable and noncancelable leases , was $ 151 million , $ 138 million , and $ 140 million in 2007 , 2006 , and 2005 , respectively .future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of september 29 , 2007 , are as follows ( in millions ) : fiscal years .
[['2008', '$ 155'], ['2009', '172'], ['2010', '173'], ['2011', '160'], ['2012', '148'], ['thereafter', '617'], ['total minimum lease payments', '$ 1425']]
accrued warranty and indemnifications the company offers a basic limited parts and labor warranty on its hardware products .the basic warranty period for hardware products is typically one year from the date of purchase by the end-user .the company also offers a 90-day basic warranty for its service parts used to repair the company 2019s hardware products .the company provides currently for the estimated cost that may be incurred under its basic limited product warranties at the time related revenue is recognized .factors considered in determining appropriate accruals for product warranty obligations include the size of the installed base of products subject to warranty protection , historical and projected warranty claim rates , historical and projected cost-per-claim , and knowledge of specific product failures that are outside of the company 2019s typical experience .the company assesses the adequacy of its preexisting warranty liabilities and adjusts the amounts as necessary based on actual experience and changes in future estimates .for products accounted for under subscription accounting pursuant to sop no .97-2 , the company recognizes warranty expense as incurred .the company periodically provides updates to its applications and system software to maintain the software 2019s compliance with specifications .the estimated cost to develop such updates is accounted for as warranty costs that are recognized at the time related software revenue is recognized .factors considered in determining appropriate accruals related to such updates include the number of units delivered , the number of updates expected to occur , and the historical cost and estimated future cost of the resources necessary to develop these updates. .
|
as of september 29 , 2007 , what percent of the company 2019s total future minimum lease payments under noncancelable operating leases were related to leases for retail space?
|
78.6%
|
{
"answer": "78.6%",
"decimal": 0.7859999999999999,
"type": "percentage"
}
| |
the authorized costs of $ 76 are to be recovered via a surcharge over a twenty-year period beginning october 2012 .surcharges collected as of december 31 , 2015 and 2014 were $ 4 and $ 5 , respectively .in addition to the authorized costs , the company expects to incur additional costs totaling $ 34 , which will be recovered from contributions made by the california state coastal conservancy .contributions collected as of december 31 , 2015 and 2014 were $ 8 and $ 5 , respectively .regulatory balancing accounts accumulate differences between revenues recognized and authorized revenue requirements until they are collected from customers or are refunded .regulatory balancing accounts include low income programs and purchased power and water accounts .debt expense is amortized over the lives of the respective issues .call premiums on the redemption of long- term debt , as well as unamortized debt expense , are deferred and amortized to the extent they will be recovered through future service rates .purchase premium recoverable through rates is primarily the recovery of the acquisition premiums related to an asset acquisition by the company 2019s california subsidiary during 2002 , and acquisitions in 2007 by the company 2019s new jersey subsidiary .as authorized for recovery by the california and new jersey pucs , these costs are being amortized to depreciation and amortization in the consolidated statements of operations through november 2048 .tank painting costs are generally deferred and amortized to operations and maintenance expense in the consolidated statements of operations on a straight-line basis over periods ranging from five to fifteen years , as authorized by the regulatory authorities in their determination of rates charged for service .other regulatory assets include certain deferred business transformation costs , construction costs for treatment facilities , property tax stabilization , employee-related costs , business services project expenses , coastal water project costs , rate case expenditures and environmental remediation costs among others .these costs are deferred because the amounts are being recovered in rates or are probable of recovery through rates in future periods .regulatory liabilities the regulatory liabilities generally represent probable future reductions in revenues associated with amounts that are to be credited or refunded to customers through the rate-making process .the following table summarizes the composition of regulatory liabilities as of december 31: .
[['', '2015', '2014'], ['removal costs recovered through rates', '$ 311', '$ 301'], ['pension and other postretirement benefitbalancing accounts', '59', '54'], ['other', '32', '37'], ['total regulatory liabilities', '$ 402', '$ 392']]
removal costs recovered through rates are estimated costs to retire assets at the end of their expected useful life that are recovered through customer rates over the life of the associated assets .in december 2008 , the company 2019s subsidiary in new jersey , at the direction of the new jersey puc , began to depreciate $ 48 of the total balance into depreciation and amortization expense in the consolidated statements of operations via straight line amortization through november 2048 .pension and other postretirement benefit balancing accounts represent the difference between costs incurred and costs authorized by the puc 2019s that are expected to be refunded to customers. .
|
by how much did total regulatory liabilities increase from 2014 to 2015?
|
2.6%
|
{
"answer": "2.6%",
"decimal": 0.026000000000000002,
"type": "percentage"
}
| |
humana inc .notes to consolidated financial statements 2014 ( continued ) 3 .acquisitions on december 21 , 2010 , we acquired concentra inc. , or concentra , a health care company based in addison , texas , for cash consideration of $ 804.7 million .through its affiliated clinicians , concentra delivers occupational medicine , urgent care , physical therapy , and wellness services to workers and the general public through its operation of medical centers and worksite medical facilities .the concentra acquisition provides entry into the primary care space on a national scale , offering additional means for achieving health and wellness solutions and providing an expandable platform for growth with a management team experienced in physician asset management and alternate site care .the preliminary fair values of concentra 2019s assets acquired and liabilities assumed at the date of the acquisition are summarized as follows : concentra ( in thousands ) .
[['', 'concentra ( in thousands )'], ['cash and cash equivalents', '$ 21317'], ['receivables', '108571'], ['other current assets', '20589'], ['property and equipment', '131837'], ['goodwill', '531372'], ['other intangible assets', '188000'], ['other long-term assets', '12935'], ['total assets acquired', '1014621'], ['current liabilities', '-100091 ( 100091 )'], ['other long-term liabilities', '-109811 ( 109811 )'], ['total liabilities assumed', '-209902 ( 209902 )'], ['net assets acquired', '$ 804719']]
the other intangible assets , which primarily consist of customer relationships and trade name , have a weighted average useful life of 13.7 years .approximately $ 57.9 million of the acquired goodwill is deductible for tax purposes .the purchase price allocation is preliminary , subject to completion of valuation analyses , including , for example , refining assumptions used to calculate the fair value of other intangible assets .the purchase agreement contains provisions under which there may be future consideration paid or received related to the subsequent determination of working capital that existed at the acquisition date .any payments or receipts for provisional amounts for working capital will be recorded as an adjustment to goodwill when paid or received .the results of operations and financial condition of concentra have been included in our consolidated statements of income and consolidated balance sheets from the acquisition date .in connection with the acquisition , we recognized approximately $ 14.9 million of acquisition-related costs , primarily banker and other professional fees , in selling , general and administrative expense .the proforma financial information assuming the acquisition had occurred as of january 1 , 2009 was not material to our results of operations .on october 31 , 2008 , we acquired php companies , inc .( d/b/a cariten healthcare ) , or cariten , for cash consideration of approximately $ 291.0 million , including the payment of $ 34.9 million during 2010 to settle a purchase price contingency .the cariten acquisition increased our commercial fully-insured and aso presence as well as our medicare hmo presence in eastern tennessee .during 2009 , we continued our review of the fair value estimate of certain other intangible and net tangible assets acquired .this review resulted in a decrease of $ 27.1 million in the fair value of other intangible assets , primarily related to the fair value assigned to the customer contracts acquired .there was a corresponding adjustment to goodwill and deferred income taxes .the .
|
what are the total current assets for concentra?
|
150477
|
{
"answer": "150477",
"decimal": 150477,
"type": "float"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) sfas no .148 .in accordance with apb no .25 , the company recognizes compensation expense based on the excess , if any , of the quoted stock price at the grant date of the award or other measurement date over the amount an employee must pay to acquire the stock .the company 2019s stock option plans are more fully described in note 14 .in december 2004 , the fasb issued sfas no .123 ( revised 2004 ) , 201cshare-based payment 201d ( sfas 123r ) , as further described below .during the year ended december 31 , 2005 , the company reevaluated the assumptions used to estimate the fair value of stock options issued to employees .as a result , the company lowered its expected volatility assumption for options granted after july 1 , 2005 to approximately 30% ( 30 % ) and increased the expected life of option grants to 6.25 years using the simplified method permitted by sec sab no .107 , 201dshare-based payment 201d ( sab no .107 ) .the company made this change based on a number of factors , including the company 2019s execution of its strategic plans to sell non-core businesses , reduce leverage and refinance its debt , and its recent merger with spectrasite , inc .( see note 2. ) management had previously based its volatility assumptions on historical volatility since inception , which included periods when the company 2019s capital structure was more highly leveraged than current levels and expected levels for the foreseeable future .management 2019s estimate of future volatility is based on its consideration of all available information , including historical volatility , implied volatility of publicly traded options , the company 2019s current capital structure and its publicly announced future business plans .for comparative purposes , a 10% ( 10 % ) change in the volatility assumption would change pro forma stock option expense and pro forma net loss by approximately $ 0.1 million for the year ended december 31 , 2005 .( see note 14. ) the following table illustrates the effect on net loss and net loss per common share if the company had applied the fair value recognition provisions of sfas no .123 ( as amended ) to stock-based compensation .the estimated fair value of each option is calculated using the black-scholes option-pricing model ( in thousands , except per share amounts ) : .
[['', '2005', '2004', '2003'], ['net loss as reported', '$ -171590 ( 171590 )', '$ -247587 ( 247587 )', '$ -325321 ( 325321 )'], ['add : stock-based employee compensation expense net of related tax effect included in net loss as reported', '7104', '2297', '2077'], ['less : total stock-based employee compensation expense determined under fair value based method for all awards net of related taxeffect', '-22238 ( 22238 )', '-23906 ( 23906 )', '-31156 ( 31156 )'], ['pro-forma net loss', '$ -186724 ( 186724 )', '$ -269196 ( 269196 )', '$ -354400 ( 354400 )'], ['basic and diluted net loss per share as reported', '$ -0.57 ( 0.57 )', '$ -1.10 ( 1.10 )', '$ -1.56 ( 1.56 )'], ['basic and diluted net loss per share pro-forma', '$ -0.62 ( 0.62 )', '$ -1.20 ( 1.20 )', '$ -1.70 ( 1.70 )']]
the company has modified certain option awards to revise vesting and exercise terms for certain terminated employees and recognized charges of $ 7.0 million , $ 3.0 million and $ 2.3 million for the years ended december 31 , 2005 , 2004 and 2003 , respectively .in addition , the stock-based employee compensation amounts above for the year ended december 31 , 2005 , include approximately $ 2.4 million of unearned compensation amortization related to unvested stock options assumed in the merger with spectrasite , inc .such charges are reflected in impairments , net loss on sale of long-lived assets , restructuring and merger related expense with corresponding adjustments to additional paid-in capital and unearned compensation in the accompanying consolidated financial statements .recent accounting pronouncements 2014in december 2004 , the fasb issued sfas 123r , which supersedes apb no .25 , and amends sfas no .95 , 201cstatement of cash flows . 201d this statement addressed the accounting for share-based payments to employees , including grants of employee stock options .under the new standard .
|
what is the total number of outstanding shares as of december 31 , 2005 according to pro-forma income , in millions?
|
301.2
|
{
"answer": "301.2",
"decimal": 301.2,
"type": "float"
}
| |
management 2019s discussion and analysis sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure .the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% ( 10 % ) decline in the underlying asset value .the table below presents market risk for positions that are not included in var .these measures do not reflect diversification benefits across asset categories and therefore have not been aggregated .asset categories 10% ( 10 % ) sensitivity amount as of december in millions 2012 2011 .
[['asset categories', 'asset categories', ''], ['in millions', '2012', '2011'], ['icbc', '$ 208', '$ 212'], ['equity ( excluding icbc ) 1', '2263', '2458'], ['debt2', '1676', '1521']]
equity ( excluding icbc ) 1 2263 2458 debt 2 1676 1521 1 .relates to private and restricted public equity securities , including interests in firm-sponsored funds that invest in corporate equities and real estate and interests in firm-sponsored hedge funds .2 .primarily relates to interests in our firm-sponsored funds that invest in corporate mezzanine and senior debt instruments .also includes loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans .var excludes the impact of changes in counterparty and our own credit spreads on derivatives as well as changes in our own credit spreads on unsecured borrowings for which the fair value option was elected .the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives was a $ 3 million gain ( including hedges ) as of december 2012 .in addition , the estimated sensitivity to a one basis point increase in our own credit spreads on unsecured borrowings for which the fair value option was elected was a $ 7 million gain ( including hedges ) as of december 2012 .however , the actual net impact of a change in our own credit spreads is also affected by the liquidity , duration and convexity ( as the sensitivity is not linear to changes in yields ) of those unsecured borrowings for which the fair value option was elected , as well as the relative performance of any hedges undertaken .the firm engages in insurance activities where we reinsure and purchase portfolios of insurance risk and pension liabilities .the risks associated with these activities include , but are not limited to : equity price , interest rate , reinvestment and mortality risk .the firm mitigates risks associated with insurance activities through the use of reinsurance and hedging .certain of the assets associated with the firm 2019s insurance activities are included in var .in addition to the positions included in var , we held $ 9.07 billion of securities accounted for as available-for- sale as of december 2012 , which support the firm 2019s reinsurance business .as of december 2012 , our available- for-sale securities primarily consisted of $ 3.63 billion of corporate debt securities with an average yield of 4% ( 4 % ) , the majority of which will mature after five years , $ 3.38 billion of mortgage and other asset-backed loans and securities with an average yield of 6% ( 6 % ) , the majority of which will mature after ten years , and $ 856 million of u.s .government and federal agency obligations with an average yield of 3% ( 3 % ) , the majority of which will mature after five years .as of december 2012 , such assets were classified as held for sale and were included in 201cother assets . 201d see note 12 to the consolidated financial statements for further information about assets held for sale .as of december 2011 , we held $ 4.86 billion of securities accounted for as available-for-sale , primarily consisting of $ 1.81 billion of corporate debt securities with an average yield of 5% ( 5 % ) , the majority of which will mature after five years , $ 1.42 billion of mortgage and other asset-backed loans and securities with an average yield of 10% ( 10 % ) , the majority of which will mature after ten years , and $ 662 million of u.s .government and federal agency obligations with an average yield of 3% ( 3 % ) , the majority of which will mature after ten years .in addition , as of december 2012 and december 2011 , we had commitments and held loans for which we have obtained credit loss protection from sumitomo mitsui financial group , inc .see note 18 to the consolidated financial statements for further information about such lending commitments .as of december 2012 , the firm also had $ 6.50 billion of loans held for investment which were accounted for at amortized cost and included in 201creceivables from customers and counterparties , 201d substantially all of which had floating interest rates .the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 62 million of additional interest income over a 12-month period , which does not take into account the potential impact of an increase in costs to fund such loans .see note 8 to the consolidated financial statements for further information about loans held for investment .additionally , we make investments accounted for under the equity method and we also make direct investments in real estate , both of which are included in 201cother assets 201d in the consolidated statements of financial condition .direct investments in real estate are accounted for at cost less accumulated depreciation .see note 12 to the consolidated financial statements for information on 201cother assets . 201d goldman sachs 2012 annual report 93 .
|
was the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives greater than the estimated sensitivity to a one basis point increase in our own credit spreads on unsecured borrowings for which the fair value option was elected as of december 2012?
|
no
|
{
"answer": "no",
"decimal": null,
"type": "bool"
}
| |
13 .rentals and leases the company leases sales and administrative office facilities , distribution centers , research and manufacturing facilities , as well as vehicles and other equipment under operating leases .total rental expense under the company 2019s operating leases was $ 239 million in 2017 and $ 221 million in both 2016 and 2015 .as of december 31 , 2017 , identifiable future minimum payments with non-cancelable terms in excess of one year were : ( millions ) .
[['2018', '$ 131'], ['2019', '115'], ['2020', '96'], ['2021', '86'], ['2022', '74'], ['thereafter', '115'], ['total', '$ 617']]
the company enters into operating leases for vehicles whose non-cancelable terms are one year or less in duration with month-to-month renewal options .these leases have been excluded from the table above .the company estimates payments under such leases will approximate $ 62 million in 2018 .these vehicle leases have guaranteed residual values that have historically been satisfied by the proceeds on the sale of the vehicles .14 .research and development expenditures research expenditures that relate to the development of new products and processes , including significant improvements and refinements to existing products , are expensed as incurred .such costs were $ 201 million in 2017 , $ 189 million in 2016 and $ 191 million in 2015 .the company did not participate in any material customer sponsored research during 2017 , 2016 or 2015 .15 .commitments and contingencies the company is subject to various claims and contingencies related to , among other things , workers 2019 compensation , general liability ( including product liability ) , automobile claims , health care claims , environmental matters and lawsuits .the company is also subject to various claims and contingencies related to income taxes , which are discussed in note 12 .the company also has contractual obligations including lease commitments , which are discussed in note 13 .the company records liabilities where a contingent loss is probable and can be reasonably estimated .if the reasonable estimate of a probable loss is a range , the company records the most probable estimate of the loss or the minimum amount when no amount within the range is a better estimate than any other amount .the company discloses a contingent liability even if the liability is not probable or the amount is not estimable , or both , if there is a reasonable possibility that a material loss may have been incurred .insurance globally , the company has insurance policies with varying deductibility levels for property and casualty losses .the company is insured for losses in excess of these deductibles , subject to policy terms and conditions and has recorded both a liability and an offsetting receivable for amounts in excess of these deductibles .the company is self-insured for health care claims for eligible participating employees , subject to certain deductibles and limitations .the company determines its liabilities for claims on an actuarial basis .litigation and environmental matters the company and certain subsidiaries are party to various lawsuits , claims and environmental actions that have arisen in the ordinary course of business .these include from time to time antitrust , commercial , patent infringement , product liability and wage hour lawsuits , as well as possible obligations to investigate and mitigate the effects on the environment of the disposal or release of certain chemical substances at various sites , such as superfund sites and other operating or closed facilities .the company has established accruals for certain lawsuits , claims and environmental matters .the company currently believes that there is not a reasonably possible risk of material loss in excess of the amounts accrued related to these legal matters .because litigation is inherently uncertain , and unfavorable rulings or developments could occur , there can be no certainty that the company may not ultimately incur charges in excess of recorded liabilities .a future adverse ruling , settlement or unfavorable development could result in future charges that could have a material adverse effect on the company 2019s results of operations or cash flows in the period in which they are recorded .the company currently believes that such future charges related to suits and legal claims , if any , would not have a material adverse effect on the company 2019s consolidated financial position .environmental matters the company is currently participating in environmental assessments and remediation at approximately 45 locations , the majority of which are in the u.s. , and environmental liabilities have been accrued reflecting management 2019s best estimate of future costs .potential insurance reimbursements are not anticipated in the company 2019s accruals for environmental liabilities. .
|
what were total r&e expenses in millions for 2017 , 2016 and in 2015?
|
581
|
{
"answer": "581",
"decimal": 581,
"type": "float"
}
| |
the hartford financial services group , inc .notes to consolidated financial statements ( continued ) 10 .sales inducements accounting policy the company currently offers enhanced crediting rates or bonus payments to contract holders on certain of its individual and group annuity products .the expense associated with offering a bonus is deferred and amortized over the life of the related contract in a pattern consistent with the amortization of deferred policy acquisition costs .amortization expense associated with expenses previously deferred is recorded over the remaining life of the contract .consistent with the unlock , the company unlocked the amortization of the sales inducement asset .see note 7 for more information concerning the unlock .changes in deferred sales inducement activity were as follows for the years ended december 31: .
[['', '2011', '2010', '2009'], ['balance beginning of year', '$ 459', '$ 438', '$ 553'], ['sales inducements deferred', '20', '31', '59'], ['amortization charged to income', '-17 ( 17 )', '-8 ( 8 )', '-105 ( 105 )'], ['amortization 2014 unlock', '-28 ( 28 )', '-2 ( 2 )', '-69 ( 69 )'], ['balance end of year', '$ 434', '$ 459', '$ 438']]
11 .reserves for future policy benefits and unpaid losses and loss adjustment expenses life insurance products accounting policy liabilities for future policy benefits are calculated by the net level premium method using interest , withdrawal and mortality assumptions appropriate at the time the policies were issued .the methods used in determining the liability for unpaid losses and future policy benefits are standard actuarial methods recognized by the american academy of actuaries .for the tabular reserves , discount rates are based on the company 2019s earned investment yield and the morbidity/mortality tables used are standard industry tables modified to reflect the company 2019s actual experience when appropriate .in particular , for the company 2019s group disability known claim reserves , the morbidity table for the early durations of claim is based exclusively on the company 2019s experience , incorporating factors such as gender , elimination period and diagnosis .these reserves are computed such that they are expected to meet the company 2019s future policy obligations .future policy benefits are computed at amounts that , with additions from estimated premiums to be received and with interest on such reserves compounded annually at certain assumed rates , are expected to be sufficient to meet the company 2019s policy obligations at their maturities or in the event of an insured 2019s death .changes in or deviations from the assumptions used for mortality , morbidity , expected future premiums and interest can significantly affect the company 2019s reserve levels and related future operations and , as such , provisions for adverse deviation are built into the long-tailed liability assumptions .liabilities for the company 2019s group life and disability contracts , as well as its individual term life insurance policies , include amounts for unpaid losses and future policy benefits .liabilities for unpaid losses include estimates of amounts to fully settle known reported claims , as well as claims related to insured events that the company estimates have been incurred but have not yet been reported .these reserve estimates are based on known facts and interpretations of circumstances , and consideration of various internal factors including the hartford 2019s experience with similar cases , historical trends involving claim payment patterns , loss payments , pending levels of unpaid claims , loss control programs and product mix .in addition , the reserve estimates are influenced by consideration of various external factors including court decisions , economic conditions and public attitudes .the effects of inflation are implicitly considered in the reserving process. .
|
what was the average sales inducements deferred from 2009 to 2011 in millions
|
36.7
|
{
"answer": "36.7",
"decimal": 36.7,
"type": "float"
}
| |
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 89% ( 89 % ) and 93% ( 93 % ) as of december 31 , 2013 and 2012 , 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'], ['2013', '$ -26.9 ( 26.9 )', '$ 27.9'], ['2012', '-27.5 ( 27.5 )', '28.4']]
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 , 2013 .we had $ 1642.1 of cash , cash equivalents and marketable securities as of december 31 , 2013 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 2013 and 2012 , we had interest income of $ 24.7 and $ 29.5 , respectively .based on our 2013 results , a 100-basis-point increase or decrease in interest rates would affect our interest income by approximately $ 16.4 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2013 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 primary foreign currencies that impacted our results during 2013 were the australian dollar , brazilian real , euro , japanese yen and the south african rand .based on 2013 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 between 3% ( 3 % ) and 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2013 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 have not entered into a material amount of foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates. .
|
what is the statistical interval that interest income can be affected during the next year based on the data from 2013?
|
$ 8.3 < interest income < $ 41.1 . or the interest income would be between $ 8.3 million and $ 41.1 million
|
{
"answer": "$ 8.3 < interest income < $ 41.1 . or the interest income would be between $ 8.3 million and $ 41.1 million",
"decimal": null,
"type": "open_ended_answer"
}
|
to find a statistical interval , one must take the data from the year before ( 24.7 ) and add the amount that could change ( 16.4 ) and subtract the amount that could change . this would give you the interval that it would be in-between .
|
strategy our mission is to achieve sustainable revenue and earnings growth through providing superior solutions to our customers .our strategy to achieve this has been and will continue to be built on the following pillars : 2022 expand client relationships 2014 the overall market we serve continues to gravitate beyond single-product purchases to multi-solution partnerships .as the market dynamics shift , we expect our clients to rely more on our multidimensional service offerings .our leveraged solutions and processing expertise can drive meaningful value and cost savings to our clients through more efficient operating processes , improved service quality and speed for our clients' customers .2022 buy , build or partner to add solutions to cross-sell 2014 we continue to invest in growth through internal product development , as well as through product-focused or market-centric acquisitions that complement and extend our existing capabilities and provide us with additional solutions to cross-sell .we also partner from time to time with other entities to provide comprehensive offerings to our customers .by investing in solution innovation and integration , we continue to expand our value proposition to clients .2022 support our clients through market transformation 2014 the changing market dynamics are transforming the way our clients operate , which is driving incremental demand for our leveraged solutions , consulting expertise , and services around intellectual property .our depth of services capabilities enables us to become involved earlier in the planning and design process to assist our clients as they manage through these changes .2022 continually improve to drive margin expansion 2014 we strive to optimize our performance through investments in infrastructure enhancements and other measures that are designed to drive organic revenue growth and margin expansion .2022 build global diversification 2014 we continue to deploy resources in emerging global markets where we expect to achieve meaningful scale .revenues by segment the table below summarizes the revenues by our reporting segments ( in millions ) : .
[['', '2012', '2011', '2010'], ['fsg', '$ 2246.4', '$ 2076.8', '$ 1890.8'], ['psg', '2380.6', '2372.1', '2354.2'], ['isg', '1180.5', '1177.6', '917.0'], ['corporate & other', '0.1', '-0.9 ( 0.9 )', '-16.4 ( 16.4 )'], ['total consolidated revenues', '$ 5807.6', '$ 5625.6', '$ 5145.6']]
financial solutions group the focus of fsg is to provide the most comprehensive software and services for the core processing , customer channel , treasury services , cash management , wealth management and capital market operations of our financial institution customers in north america .we service the core and related ancillary processing needs of north american banks , credit unions , automotive financial companies , commercial lenders , and independent community and savings institutions .fis offers a broad selection of in-house and outsourced solutions to banking customers that span the range of asset sizes .fsg customers are typically committed under multi-year contracts that provide a stable , recurring revenue base and opportunities for cross-selling additional financial and payments offerings .we employ several business models to provide our solutions to our customers .we typically deliver the highest value to our customers when we combine our software applications and deliver them in one of several types of outsourcing arrangements , such as an application service provider , facilities management processing or an application management arrangement .we are also able to deliver individual applications through a software licensing arrangement .based upon our expertise gained through the foregoing arrangements , some clients also retain us to manage their it operations without using any of our proprietary software .our solutions in this segment include: .
|
what portion of the total consolidated revenues is generated from fsg segment in 2018?
|
38.7%
|
{
"answer": "38.7%",
"decimal": 0.387,
"type": "percentage"
}
| |
united parcel service , inc .and subsidiaries management's discussion and analysis of financial condition and results of operations liquidity and capital resources operating activities the following is a summary of the significant sources ( uses ) of cash from operating activities ( amounts in millions ) : .
[['', '2012', '2011', '2010'], ['net income', '$ 807', '$ 3804', '$ 3338'], ['non-cash operating activities ( a )', '7301', '4505', '4398'], ['pension and postretirement plan contributions ( ups-sponsored plans )', '-917 ( 917 )', '-1436 ( 1436 )', '-3240 ( 3240 )'], ['income tax receivables and payables', '280', '236', '-319 ( 319 )'], ['changes in working capital and other noncurrent assets and liabilities', '-148 ( 148 )', '-12 ( 12 )', '-340 ( 340 )'], ['other operating activities', '-107 ( 107 )', '-24 ( 24 )', '-2 ( 2 )'], ['net cash from operating activities', '$ 7216', '$ 7073', '$ 3835']]
( a ) represents depreciation and amortization , gains and losses on derivative and foreign exchange transactions , deferred income taxes , provisions for uncollectible accounts , pension and postretirement benefit expense , stock compensation expense , impairment charges and other non-cash items .cash from operating activities remained strong throughout the 2010 to 2012 time period .operating cash flow was favorably impacted in 2012 , compared with 2011 , by lower contributions into our defined benefit pension and postretirement benefit plans ; however , this was partially offset by changes in our working capital position , which was impacted by overall growth in the business .the change in the cash flows for income tax receivables and payables in 2011 and 2010 was primarily related to the timing of discretionary pension contributions during 2010 , as discussed further in the following paragraph .except for discretionary or accelerated fundings of our plans , contributions to our company-sponsored pension plans have largely varied based on whether any minimum funding requirements are present for individual pension plans .2022 in 2012 , we made a $ 355 million required contribution to the ups ibt pension plan .2022 in 2011 , we made a $ 1.2 billion contribution to the ups ibt pension plan , which satisfied our 2011 contribution requirements and also approximately $ 440 million in contributions that would not have been required until after 2011 .2022 in 2010 , we made $ 2.0 billion in discretionary contributions to our ups retirement and ups pension plans , and $ 980 million in required contributions to our ups ibt pension plan .2022 the remaining contributions in the 2010 through 2012 period were largely due to contributions to our international pension plans and u.s .postretirement medical benefit plans .as discussed further in the 201ccontractual commitments 201d section , we have minimum funding requirements in the next several years , primarily related to the ups ibt pension , ups retirement and ups pension plans .as of december 31 , 2012 , the total of our worldwide holdings of cash and cash equivalents was $ 7.327 billion .approximately $ 4.211 billion of this amount was held in european subsidiaries with the intended purpose of completing the acquisition of tnt express n.v .( see note 16 to the consolidated financial statements ) .excluding this portion of cash held outside the u.s .for acquisition-related purposes , approximately 50%-60% ( 50%-60 % ) of the remaining cash and cash equivalents are held by foreign subsidiaries throughout the year .the amount of cash held by our u.s .and foreign subsidiaries fluctuates throughout the year due to a variety of factors , including the timing of cash receipts and disbursements in the normal course of business .cash provided by operating activities in the united states continues to be our primary source of funds to finance domestic operating needs , capital expenditures , share repurchases and dividend payments to shareowners .to the extent that such amounts represent previously untaxed earnings , the cash held by foreign subsidiaries would be subject to tax if such amounts were repatriated in the form of dividends ; however , not all international cash balances would have to be repatriated in the form of a dividend if returned to the u.s .when amounts earned by foreign subsidiaries are expected to be indefinitely reinvested , no accrual for taxes is provided. .
|
what is the percentage change in net cash from operating activities from 2011 to 2012?
|
-2.0%
|
{
"answer": "-2.0%",
"decimal": -0.02,
"type": "percentage"
}
| |
for intangible assets subject to amortization , the estimated aggregate amortization expense for each of the five succeeding fiscal years is as follows : 2009 - $ 41.1 million , 2010 - $ 27.3 million , 2011 - $ 20.9 million , 2012 - $ 17.0 million , and 2013 - $ 12.0 million .fees and expenses related to the merger totaled $ 102.6 million , principally consisting of investment banking fees , legal fees and stock compensation ( $ 39.4 million as further discussed in note 10 ) , and are reflected in the 2007 results of operations .capitalized debt issuance costs as of the merger date of $ 87.4 million for merger-related financing were reflected in other long- term assets in the consolidated balance sheet .the following represents the unaudited pro forma results of the company 2019s consolidated operations as if the merger had occurred on february 3 , 2007 and february 4 , 2006 , respectively , after giving effect to certain adjustments , including the depreciation and amortization of the assets acquired based on their estimated fair values and changes in interest expense resulting from changes in consolidated debt ( in thousands ) : ( in thousands ) year ended february 1 , year ended february 2 .
[['( in thousands )', 'year endedfebruary 12008', 'year endedfebruary 22007'], ['revenue', '$ 9495246', '$ 9169822'], ['net loss', '-57939 ( 57939 )', '( 156188 )']]
the pro forma information does not purport to be indicative of what the company 2019s results of operations would have been if the acquisition had in fact occurred at the beginning of the periods presented , and is not intended to be a projection of the company 2019s future results of operations .subsequent to the announcement of the merger agreement , the company and its directors , along with other parties , were named in seven putative class actions filed in tennessee state courts alleging claims for breach of fiduciary duty arising out of the proposed merger , all as described more fully under 201clegal proceedings 201d in note 8 below .3 .strategic initiatives during 2006 , the company began implementing certain strategic initiatives related to its historical inventory management and real estate strategies , as more fully described below .inventory management in november 2006 , the company undertook an initiative to discontinue its historical inventory packaway model for virtually all merchandise by the end of fiscal 2007 .under the packaway model , certain unsold inventory items ( primarily seasonal merchandise ) were stored on-site and returned to the sales floor until the items were eventually sold , damaged or discarded .through end-of-season and other markdowns , this initiative resulted in the elimination of seasonal , home products and basic clothing packaway merchandise to allow for increased levels of newer , current-season merchandise .in connection with this strategic change , in the third quarter of 2006 the company recorded a reserve for lower of cost or market inventory .
|
what is the net income margin in 2008?
|
0.6%
|
{
"answer": "0.6%",
"decimal": 0.006,
"type": "percentage"
}
| |
repatriated , the related u.s .tax liability may be reduced by any foreign income taxes paid on these earnings .as of november 30 , 2012 , the cumulative amount of earnings upon which u.s .income taxes have not been provided is approximately $ 2.9 billion .the unrecognized deferred tax liability for these earnings is approximately $ 0.8 billion .as of november 30 , 2012 , we have u.s .net operating loss carryforwards of approximately $ 33.7 million for federal and $ 77.7 million for state .we also have federal , state and foreign tax credit carryforwards of approximately $ 1.9 million , $ 18.0 million and $ 17.6 million , respectively .the net operating loss carryforward assets , federal tax credits and foreign tax credits will expire in various years from fiscal 2017 through 2032 .the state tax credit carryforwards can be carried forward indefinitely .the net operating loss carryforward assets and certain credits are subject to an annual limitation under internal revenue code section 382 , but are expected to be fully realized .in addition , we have been tracking certain deferred tax attributes of $ 45.0 million which have not been recorded in the financial statements pursuant to accounting standards related to stock-based compensation .these amounts are no longer included in our gross or net deferred tax assets .pursuant to these standards , the benefit of these deferred tax assets will be recorded to equity if and when they reduce taxes payable .as of november 30 , 2012 , a valuation allowance of $ 28.2 million has been established for certain deferred tax assets related to the impairment of investments and certain foreign assets .for fiscal 2012 , the total change in the valuation allowance was $ 23.0 million , of which $ 2.1 million was recorded as a tax benefit through the income statement .accounting for uncertainty in income taxes during fiscal 2012 and 2011 , our aggregate changes in our total gross amount of unrecognized tax benefits are summarized as follows ( in thousands ) : .
[['', '2012', '2011'], ['beginning balance', '$ 163607', '$ 156925'], ['gross increases in unrecognized tax benefits 2013 prior year tax positions', '1038', '11901'], ['gross decreases in unrecognized tax benefits 2013 prior year tax positions', '2014', '-4154 ( 4154 )'], ['gross increases in unrecognized tax benefits 2013 current year tax positions', '23771', '32420'], ['settlements with taxing authorities', '-1754 ( 1754 )', '-29101 ( 29101 )'], ['lapse of statute of limitations', '-25387 ( 25387 )', '-3825 ( 3825 )'], ['foreign exchange gains and losses', '-807 ( 807 )', '-559 ( 559 )'], ['ending balance', '$ 160468', '$ 163607']]
as of november 30 , 2012 , the combined amount of accrued interest and penalties related to tax positions taken on our tax returns and included in non-current income taxes payable was approximately $ 12.5 million .we file income tax returns in the u.s .on a federal basis and in many u.s .state and foreign jurisdictions .we are subject to the continual examination of our income tax returns by the irs and other domestic and foreign tax authorities .our major tax jurisdictions are the u.s. , ireland and california .for california , ireland and the u.s. , the earliest fiscal years open for examination are 2005 , 2006 and 2008 , respectively .we regularly assess the likelihood of outcomes resulting from these examinations to determine the adequacy of our provision for income taxes and have reserved for potential adjustments that may result from the current examinations .we believe such estimates to be reasonable ; however , there can be no assurance that the final determination of any of these examinations will not have an adverse effect on our operating results and financial position .in august 2011 , a canadian income tax examination covering our fiscal years 2005 through 2008 was completed .our accrued tax and interest related to these years was approximately $ 35 million and was previously reported in long-term income taxes payable .we reclassified approximately $ 17 million to short-term income taxes payable and decreased deferred tax assets by approximately $ 18 million in conjunction with the aforementioned resolution .the timing of the resolution of income tax examinations is highly uncertain as are the amounts and timing of tax payments that are part of any audit settlement process .these events could cause large fluctuations in the balance sheet classification of current and non-current assets and liabilities .the company believes that before the end of fiscal 2013 , it is reasonably possible table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) .
|
in millions , what as the change in gross increases in unrecognized tax benefits 2013 prior year tax positions between 2012 and 2011?
|
10861
|
{
"answer": "10861",
"decimal": 10861,
"type": "float"
}
| |
system energy may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable .all debt and common stock issuances by system energy require prior regulatory approval . a0 a0debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements . a0 a0system energy has sufficient capacity under these tests to meet its foreseeable capital needs .system energy 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 )'], ['$ 111667', '$ 33809', '$ 39926', '$ 2373']]
see note 4 to the financial statements for a description of the money pool .the system energy nuclear fuel company variable interest entity has a credit facility in the amount of $ 120 million scheduled to expire in may 2019 .as of december 31 , 2017 , $ 17.8 million in letters of credit to support a like amount of commercial paper issued and $ 50 million in loans were outstanding under the system energy nuclear fuel company variable interest entity credit facility .see note 4 to the financial statements for additional discussion of the variable interest entity credit facility .system energy obtained authorizations from the ferc through october 2019 for the following : 2022 short-term borrowings not to exceed an aggregate amount of $ 200 million at any time outstanding ; 2022 long-term borrowings and security issuances ; and 2022 long-term borrowings by its nuclear fuel company variable interest entity .see note 4 to the financial statements for further discussion of system energy 2019s short-term borrowing limits .system energy resources , inc .management 2019s financial discussion and analysis federal regulation see the 201crate , cost-recovery , and other regulation 2013 federal regulation 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis and note 2 to the financial statements for a discussion of federal regulation .complaint against system energy in january 2017 the apsc and mpsc filed a complaint with the ferc against system energy .the complaint seeks a reduction in the return on equity component of the unit power sales agreement pursuant to which system energy sells its grand gulf capacity and energy to entergy arkansas , entergy louisiana , entergy mississippi , and entergy new orleans .entergy arkansas also sells some of its grand gulf capacity and energy to entergy louisiana , entergy mississippi , and entergy new orleans under separate agreements .the current return on equity under the unit power sales agreement is 10.94% ( 10.94 % ) .the complaint alleges that the return on equity is unjust and unreasonable because current capital market and other considerations indicate that it is excessive .the complaint requests the ferc to institute proceedings to investigate the return on equity and establish a lower return on equity , and also requests that the ferc establish january 23 , 2017 as a refund effective date .the complaint includes return on equity analysis that purports to establish that the range of reasonable return on equity for system energy is between 8.37% ( 8.37 % ) and 8.67% ( 8.67 % ) .system energy answered the complaint in february 2017 and disputes that a return on equity of 8.37% ( 8.37 % ) to 8.67% ( 8.67 % ) is just and reasonable .the lpsc and the city council intervened in the proceeding expressing support for the complaint .system energy is recording a provision against revenue for the potential outcome of this proceeding .in september 2017 the ferc established a refund effective date of january 23 , 2017 , consolidated the return on equity complaint with the proceeding described in unit power sales agreement below , and directed the parties to engage in settlement .
|
what percent of short term borrowing allowance was outstanding in 2017?
|
33.9%
|
{
"answer": "33.9%",
"decimal": 0.33899999999999997,
"type": "percentage"
}
| |
we measure cash flow as net cash provided by operating activities reduced by expenditures for property additions .we use this non-gaap financial measure of cash flow to focus management and investors on the amount of cash available for debt repayment , dividend distributions , acquisition opportunities , and share repurchases .our cash flow metric is reconciled to the most comparable gaap measure , as follows: .
[['( dollars in millions )', '2012', '2011', '2010'], ['net cash provided by operating activities', '$ 1758', '$ 1595', '$ 1008'], ['additions to properties', '-533 ( 533 )', '-594 ( 594 )', '-474 ( 474 )'], ['cash flow', '$ 1225', '$ 1001', '$ 534'], ['year-over-year change', '22.4% ( 22.4 % )', '87.5% ( 87.5 % )', '']]
year-over-year change 22.4 % ( % ) 87.5 % ( % ) year-over-year changes in cash flow ( as defined ) were driven by improved performance in working capital resulting from the benefit derived from the pringles acquisition , as well as changes in the level of capital expenditures during the three-year period .investing activities our net cash used in investing activities for 2012 amounted to $ 3245 million , an increase of $ 2658 million compared with 2011 primarily attributable to the $ 2668 acquisition of pringles in capital spending in 2012 included investments in our supply chain infrastructure , and to support capacity requirements in certain markets , including pringles .in addition , we continued the investment in our information technology infrastructure related to the reimplementation and upgrade of our sap platform .net cash used in investing activities of $ 587 million in 2011 increased by $ 122 million compared with 2010 , reflecting capital projects for our reimplementation and upgrade of our sap platform and investments in our supply chain .cash paid for additions to properties as a percentage of net sales has decreased to 3.8% ( 3.8 % ) in 2012 , from 4.5% ( 4.5 % ) in 2011 , which was an increase from 3.8% ( 3.8 % ) in financing activities in february 2013 , we issued $ 250 million of two-year floating-rate u.s .dollar notes , and $ 400 million of ten-year 2.75% ( 2.75 % ) u.s .dollar notes .the proceeds from these notes will be used for general corporate purposes , including , together with cash on hand , repayment of the $ 750 million aggregate principal amount of our 4.25% ( 4.25 % ) u.s .dollar notes due march 2013 .the floating-rate notes bear interest equal to three-month libor plus 23 basis points , subject to quarterly reset .the notes contain customary covenants that limit the ability of kellogg company and its restricted subsidiaries ( as defined ) to incur certain liens or enter into certain sale and lease-back transactions , as well as a change of control provision .our net cash provided by financing activities was $ 1317 for 2012 , compared to net cash used in financing activities of $ 957 and $ 439 for 2011 and 2010 , respectively .the increase in cash provided from financing activities in 2012 compared to 2011 and 2010 , was primarily due to the issuance of debt related to the acquisition of pringles .total debt was $ 7.9 billion at year-end 2012 and $ 6.0 billion at year-end 2011 .in march 2012 , we entered into interest rate swaps on our $ 500 million five-year 1.875% ( 1.875 % ) fixed rate u.s .dollar notes due 2016 , $ 500 million ten-year 4.15% ( 4.15 % ) fixed rate u.s .dollar notes due 2019 and $ 500 million of our $ 750 million seven-year 4.45% ( 4.45 % ) fixed rate u.s .dollar notes due 2016 .the interest rate swaps effectively converted these notes from their fixed rates to floating rate obligations through maturity .in may 2012 , we issued $ 350 million of three-year 1.125% ( 1.125 % ) u.s .dollar notes , $ 400 million of five-year 1.75% ( 1.75 % ) u.s .dollar notes and $ 700 million of ten-year 3.125% ( 3.125 % ) u.s .dollar notes , resulting in aggregate net proceeds after debt discount of $ 1.442 billion .the proceeds of these notes were used for general corporate purposes , including financing a portion of the acquisition of pringles .in may 2012 , we issued cdn .$ 300 million of two-year 2.10% ( 2.10 % ) fixed rate canadian dollar notes , using the proceeds from these notes for general corporate purposes , which included repayment of intercompany debt .this repayment resulted in cash available to be used for a portion of the acquisition of pringles .in december 2012 , we repaid $ 750 million five-year 5.125% ( 5.125 % ) u.s .dollar notes at maturity with commercial paper .in february 2011 , we entered into interest rate swaps on $ 200 million of our $ 750 million seven-year 4.45% ( 4.45 % ) fixed rate u.s .dollar notes due 2016 .the interest rate swaps effectively converted this portion of the notes from a fixed rate to a floating rate obligation through maturity .in april 2011 , we repaid $ 945 million ten-year 6.60% ( 6.60 % ) u.s .dollar notes at maturity with commercial paper .in may 2011 , we issued $ 400 million of seven-year 3.25% ( 3.25 % ) fixed rate u.s .dollar notes , using the proceeds of $ 397 million for general corporate purposes and repayment of commercial paper .during 2011 , we entered into interest rate swaps with notional amounts totaling $ 400 million , which effectively converted these notes from a fixed rate to a floating rate obligation through maturity .in november 2011 , we issued $ 500 million of five-year 1.875% ( 1.875 % ) fixed rate u .s .dollar notes , using the proceeds of $ 498 million for general corporate purposes and repayment of commercial paper .during 2012 , we entered into interest rate swaps which effectively converted these notes from a fixed rate to a floating rate obligation through maturity .in april 2010 , our board of directors approved a share repurchase program authorizing us to repurchase shares of our common stock amounting to $ 2.5 billion during 2010 through 2012 .this three year authorization replaced previous share buyback programs which had authorized stock repurchases of up to $ 1.1 billion for 2010 and $ 650 million for 2009 .under this program , we repurchased approximately 1 million , 15 million and 21 million shares of common stock for $ 63 million , $ 793 million and $ 1.1 billion during 2012 , 2011 and 2010 , respectively .in december 2012 , our board of directors approved a share repurchase program authorizing us to repurchase shares of our common stock amounting to $ 300 million during 2013 .we paid quarterly dividends to shareholders totaling $ 1.74 per share in 2012 , $ 1.67 per share in 2011 and $ 1.56 per share in 2010 .total cash paid for dividends increased by 3.0% ( 3.0 % ) in 2012 and 3.4% ( 3.4 % ) in 2011 .in march 2011 , we entered into an unsecured four- year credit agreement which allows us to borrow , on a revolving credit basis , up to $ 2.0 billion .our long-term debt agreements contain customary covenants that limit kellogg company and some of its subsidiaries from incurring certain liens or from entering into certain sale and lease-back transactions .some agreements also contain change in control provisions .however , they do not contain acceleration of maturity clauses that are dependent on credit ratings .a change in our credit ratings could limit our access to the u.s .short-term debt market and/or increase the cost of refinancing long-term debt in the future .however , even under these circumstances , we would continue to have access to our four-year credit agreement , which expires in march 2015 .this source of liquidity is unused and available on an unsecured basis , although we do not currently plan to use it .capital and credit markets , including commercial paper markets , continued to experience instability and disruption as the u.s .and global economies underwent a period of extreme uncertainty .throughout this period of uncertainty , we continued to have access to the u.s. , european , and canadian commercial paper markets .our commercial paper and term debt credit ratings were not affected by the changes in the credit environment .we monitor the financial strength of our third-party financial institutions , including those that hold our cash and cash equivalents as well as those who serve as counterparties to our credit facilities , our derivative financial instruments , and other arrangements .we are in compliance with all covenants as of december 29 , 2012 .we continue to believe that we will be able to meet our interest and principal repayment obligations and maintain our debt covenants for the foreseeable future , while still meeting our operational needs , including the pursuit of selected bolt-on acquisitions .this will be accomplished through our strong cash flow , our short- term borrowings , and our maintenance of credit facilities on a global basis. .
|
what percent increase in net cash from investing activities occurred between 2011 and 2012?
|
452.8%
|
{
"answer": "452.8%",
"decimal": 4.5280000000000005,
"type": "percentage"
}
|
subtracting the old value by the new value eliminates the need to subtract 1 at the end . both work , but in this case it made more sense to do it this way .
|
the company has a restricted stock plan for non-employee directors which reserves for issuance of 300000 shares of the company 2019s common stock .no restricted shares were issued in 2009 .the company has a directors 2019 deferral plan , which provides a means to defer director compensation , from time to time , on a deferred stock or cash basis .as of september 30 , 2009 , 86643 shares were held in trust , of which 4356 shares represented directors 2019 compensation in 2009 , in accordance with the provisions of the plan .under this plan , which is unfunded , directors have an unsecured contractual commitment from the company .the company also has a deferred compensation plan that allows certain highly-compensated employees , including executive officers , to defer salary , annual incentive awards and certain equity-based compensation .as of september 30 , 2009 , 557235 shares were issuable under this plan .note 16 2014 earnings per share the weighted average common shares used in the computations of basic and diluted earnings per share ( shares in thousands ) for the years ended september 30 were as follows: .
[['', '2009', '2008', '2007'], ['average common shares outstanding', '240479', '244323', '244929'], ['dilutive share equivalents from share-based plans', '6319', '8358', '9881'], ['average common and common equivalent sharesoutstanding 2014 assuming dilution', '246798', '252681', '254810']]
average common and common equivalent shares outstanding 2014 assuming dilution ....................................246798 252681 254810 note 17 2014 segment data the company 2019s organizational structure is based upon its three principal business segments : bd medical ( 201cmedical 201d ) , bd diagnostics ( 201cdiagnostics 201d ) and bd biosciences ( 201cbiosciences 201d ) .the principal product lines in the medical segment include needles , syringes and intravenous catheters for medication delivery ; safety-engineered and auto-disable devices ; prefilled iv flush syringes ; syringes and pen needles for the self-injection of insulin and other drugs used in the treatment of diabetes ; prefillable drug delivery devices provided to pharmaceutical companies and sold to end-users as drug/device combinations ; surgical blades/scalpels and regional anesthesia needles and trays ; critical care monitoring devices ; ophthalmic surgical instruments ; and sharps disposal containers .the principal products and services in the diagnostics segment include integrated systems for specimen collection ; an extensive line of safety-engineered specimen blood collection products and systems ; plated media ; automated blood culturing systems ; molecular testing systems for sexually transmitted diseases and healthcare-associated infections ; microorganism identification and drug susceptibility systems ; liquid-based cytology systems for cervical cancer screening ; and rapid diagnostic assays .the principal product lines in the biosciences segment include fluorescence activated cell sorters and analyzers ; cell imaging systems ; monoclonal antibodies and kits for performing cell analysis ; reagent systems for life sciences research ; tools to aid in drug discovery and growth of tissue and cells ; cell culture media supplements for biopharmaceutical manufacturing ; and diagnostic assays .the company evaluates performance of its business segments based upon operating income .segment operating income represents revenues reduced by product costs and operating expenses .the company hedges against certain forecasted sales of u.s.-produced products sold outside the united states .gains and losses associated with these foreign currency translation hedges are reported in segment revenues based upon their proportionate share of these international sales of u.s.-produced products .becton , dickinson and company notes to consolidated financial statements 2014 ( continued ) .
|
as of september 30 , 2009 what was the percent of the shares were held in trust that represented the directors 2019 compensation in accordance with the provisions of the plan .
|
5%
|
{
"answer": "5%",
"decimal": 0.05,
"type": "percentage"
}
| |
57management's discussion and analysis of financial condition and results of operations facility include covenants relating to net interest coverage and total debt-to-book capitalization ratios .the company was in compliance with the terms of the 3-year credit facility at december 31 , 2005 .the company has never borrowed under its domestic revolving credit facilities .utilization of the non-u.s .credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested .contractual obligations , guarantees , and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations ( assuming earliest possible exercise of put rights by holders ) , lease payment obligations , and purchase obligations as of december 31 , 2005 .payments due by period ( 1 ) ( in millions ) total 2006 2007 2008 2009 2010 thereafter .
[['( in millions )', 'payments due by period ( 1 ) total', 'payments due by period ( 1 ) 2006', 'payments due by period ( 1 ) 2007', 'payments due by period ( 1 ) 2008', 'payments due by period ( 1 ) 2009', 'payments due by period ( 1 ) 2010', 'payments due by period ( 1 ) thereafter'], ['long-term debt obligations', '$ 4033', '$ 119', '$ 1222', '$ 200', '$ 2', '$ 529', '$ 1961'], ['lease obligations', '1150', '438', '190', '134', '109', '84', '195'], ['purchase obligations', '992', '418', '28', '3', '2', '2', '539'], ['total contractual obligations', '$ 6175', '$ 975', '$ 1440', '$ 337', '$ 113', '$ 615', '$ 2695']]
( 1 ) amounts included represent firm , non-cancelable commitments .debt obligations : at december 31 , 2005 , the company's long-term debt obligations , including current maturities and unamortized discount and issue costs , totaled $ 4.0 billion , as compared to $ 5.0 billion at december 31 , 2004 .a table of all outstanding long-term debt securities can be found in note 4 , ""debt and credit facilities'' to the company's consolidated financial statements .as previously discussed , the decrease in the long- term debt obligations as compared to december 31 , 2004 , was due to the redemptions and repurchases of $ 1.0 billion principal amount of outstanding securities during 2005 .also , as previously discussed , the remaining $ 118 million of 7.6% ( 7.6 % ) notes due january 1 , 2007 were reclassified to current maturities of long-term debt .lease obligations : the company owns most of its major facilities , but does lease certain office , factory and warehouse space , land , and information technology and other equipment under principally non-cancelable operating leases .at december 31 , 2005 , future minimum lease obligations , net of minimum sublease rentals , totaled $ 1.2 billion .rental expense , net of sublease income , was $ 254 million in 2005 , $ 217 million in 2004 and $ 223 million in 2003 .purchase obligations : the company has entered into agreements for the purchase of inventory , license of software , promotional agreements , and research and development agreements which are firm commitments and are not cancelable .the longest of these agreements extends through 2015 .total payments expected to be made under these agreements total $ 992 million .commitments under other long-term agreements : the company has entered into certain long-term agreements to purchase software , components , supplies and materials from suppliers .most of the agreements extend for periods of one to three years ( three to five years for software ) .however , generally these agreements do not obligate the company to make any purchases , and many permit the company to terminate the agreement with advance notice ( usually ranging from 60 to 180 days ) .if the company were to terminate these agreements , it generally would be liable for certain termination charges , typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders .the company's liability would only arise in the event it terminates the agreements for reasons other than ""cause.'' in 2003 , the company entered into outsourcing contracts for certain corporate functions , such as benefit administration and information technology related services .these contracts generally extend for 10 years and are expected to expire in 2013 .the total payments under these contracts are approximately $ 3 billion over 10 years ; however , these contracts can be terminated .termination would result in a penalty substantially less than the annual contract payments .the company would also be required to find another source for these services , including the possibility of performing them in-house .as is customary in bidding for and completing network infrastructure projects and pursuant to a practice the company has followed for many years , the company has a number of performance/bid bonds and standby letters of credit outstanding , primarily relating to projects of government and enterprise mobility solutions segment and the networks segment .these instruments normally have maturities of up to three years and are standard in the .
|
what percent of the total contractual obligations in 2006 were long-term debt obligations?
|
12%
|
{
"answer": "12%",
"decimal": 0.12,
"type": "percentage"
}
| |
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2012 , 2011 , and 2010 ( 1 ) a u.s .subsidiary of the company has a defined benefit obligation of $ 764 million and $ 679 million as of december 31 , 2012 and 2011 , respectively , and uses salary bands to determine future benefit costs rather than rates of compensation increases .rates of compensation increases in the table above do not include amounts related to this specific defined benefit plan .( 2 ) includes an inflation factor that is used to calculate future periodic benefit cost , but is not used to calculate the benefit obligation .the company establishes its estimated long-term return on plan assets considering various factors , which include the targeted asset allocation percentages , historic returns and expected future returns .the measurement of pension obligations , costs and liabilities is dependent on a variety of assumptions .these assumptions include estimates of the present value of projected future pension payments to all plan participants , taking into consideration the likelihood of potential future events such as salary increases and demographic experience .these assumptions may have an effect on the amount and timing of future contributions .the assumptions used in developing the required estimates include the following key factors : 2022 discount rates ; 2022 salary growth ; 2022 retirement rates ; 2022 inflation ; 2022 expected return on plan assets ; and 2022 mortality rates .the effects of actual results differing from the company 2019s assumptions are accumulated and amortized over future periods and , therefore , generally affect the company 2019s recognized expense in such future periods .sensitivity of the company 2019s pension funded status to the indicated increase or decrease in the discount rate and long-term rate of return on plan assets assumptions is shown below .note that these sensitivities may be asymmetric and are specific to the base conditions at year-end 2012 .they also may not be additive , so the impact of changing multiple factors simultaneously cannot be calculated by combining the individual sensitivities shown .the funded status as of december 31 , 2012 is affected by the assumptions as of that date .pension expense for 2012 is affected by the december 31 , 2011 assumptions .the impact on pension expense from a one percentage point change in these assumptions is shown in the table below ( in millions ) : .
[['increase of 1% ( 1 % ) in the discount rate', '$ -48 ( 48 )'], ['decrease of 1% ( 1 % ) in the discount rate', '38'], ['increase of 1% ( 1 % ) in the long-term rate of return on plan assets', '-47 ( 47 )'], ['decrease of 1% ( 1 % ) in the long-term rate of return on plan assets', '47']]
.
|
was the impact of a decrease of 1% ( 1 % ) in the discount rate greater than the effect of a decrease of 1% ( 1 % ) in the long-term rate of return on plan assets?
|
no
|
{
"answer": "no",
"decimal": null,
"type": "bool"
}
| |
part ii item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our ordinary shares have been publicly traded since november 17 , 2011 when our ordinary shares were listed and began trading on the new york stock exchange ( 201cnyse 201d ) under the symbol 201cdlph . 201d on december 4 , 2017 , following the spin-off of delphi technologies , the company changed its name to aptiv plc and its nyse symbol to 201captv . 201d as of january 25 , 2019 , there were 2 shareholders of record of our ordinary shares .the following graph reflects the comparative changes in the value from december 31 , 2013 through december 31 , 2018 , assuming an initial investment of $ 100 and the reinvestment of dividends , if any in ( 1 ) our ordinary shares , ( 2 ) the s&p 500 index and ( 3 ) the automotive peer group .historical share prices of our ordinary shares have been adjusted to reflect the separation .historical performance may not be indicative of future shareholder returns .stock performance graph * $ 100 invested on december 31 , 2013 in our stock or in the relevant index , including reinvestment of dividends .fiscal year ended december 31 , 2018 .( 1 ) aptiv plc , adjusted for the distribution of delphi technologies on december 4 , 2017 ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive peer group 2013 adient plc , american axle & manufacturing holdings inc , aptiv plc , borgwarner inc , cooper tire & rubber co , cooper- standard holdings inc , dana inc , dorman products inc , ford motor co , garrett motion inc. , general motors co , gentex corp , gentherm inc , genuine parts co , goodyear tire & rubber co , lear corp , lkq corp , meritor inc , motorcar parts of america inc , standard motor products inc , stoneridge inc , superior industries international inc , tenneco inc , tesla inc , tower international inc , visteon corp , wabco holdings inc company index december 31 , december 31 , december 31 , december 31 , december 31 , december 31 .
[['company index', 'december 31 2013', 'december 31 2014', 'december 31 2015', 'december 31 2016', 'december 31 2017', 'december 31 2018'], ['aptiv plc ( 1 )', '$ 100.00', '$ 122.75', '$ 146.49', '$ 117.11', '$ 178.46', '$ 130.80'], ['s&p 500 ( 2 )', '100.00', '113.69', '115.26', '129.05', '157.22', '150.33'], ['automotive peer group ( 3 )', '100.00', '107.96', '108.05', '107.72', '134.04', '106.89']]
.
|
what is the difference in percentage performance for aptiv plc versus the s&p 500 for the five year period ending december 31 2018?
|
-19.53%
|
{
"answer": "-19.53%",
"decimal": -0.1953,
"type": "percentage"
}
| |
credit commitments and lines of credit the table below summarizes citigroup 2019s credit commitments as of december 31 , 2009 and december 31 , 2008 : in millions of dollars u.s .outside of december 31 , december 31 .
[['in millions of dollars', 'u.s .', 'outside of u.s .', 'december 31 2009', 'december 31 2008'], ['commercial and similar letters of credit', '$ 1321', '$ 5890', '$ 7211', '$ 8215'], ['one- to four-family residential mortgages', '788', '282', '1070', '937'], ['revolving open-end loans secured by one- to four-family residential properties', '20914', '3002', '23916', '25212'], ['commercial real estate construction and land development', '1185', '519', '1704', '2702'], ['credit card lines', '649625', '135870', '785495', '1002437'], ['commercial and other consumer loan commitments', '167510', '89832', '257342', '309997'], ['total', '$ 841343', '$ 235395', '$ 1076738', '$ 1349500']]
the majority of unused commitments are contingent upon customers 2019 maintaining specific credit standards .commercial commitments generally have floating interest rates and fixed expiration dates and may require payment of fees .such fees ( net of certain direct costs ) are deferred and , upon exercise of the commitment , amortized over the life of the loan or , if exercise is deemed remote , amortized over the commitment period .commercial and similar letters of credit a commercial letter of credit is an instrument by which citigroup substitutes its credit for that of a customer to enable the customer to finance the purchase of goods or to incur other commitments .citigroup issues a letter on behalf of its client to a supplier and agrees to pay the supplier upon presentation of documentary evidence that the supplier has performed in accordance with the terms of the letter of credit .when a letter of credit is drawn , the customer is then required to reimburse citigroup .one- to four-family residential mortgages a one- to four-family residential mortgage commitment is a written confirmation from citigroup to a seller of a property that the bank will advance the specified sums enabling the buyer to complete the purchase .revolving open-end loans secured by one- to four-family residential properties revolving open-end loans secured by one- to four-family residential properties are essentially home equity lines of credit .a home equity line of credit is a loan secured by a primary residence or second home to the extent of the excess of fair market value over the debt outstanding for the first mortgage .commercial real estate , construction and land development commercial real estate , construction and land development include unused portions of commitments to extend credit for the purpose of financing commercial and multifamily residential properties as well as land development projects .both secured-by-real-estate and unsecured commitments are included in this line , as well as undistributed loan proceeds , where there is an obligation to advance for construction progress payments .however , this line only includes those extensions of credit that , once funded , will be classified as total loans , net on the consolidated balance sheet .credit card lines citigroup provides credit to customers by issuing credit cards .the credit card lines are unconditionally cancellable by the issuer .commercial and other consumer loan commitments commercial and other consumer loan commitments include overdraft and liquidity facilities , as well as commercial commitments to make or purchase loans , to purchase third-party receivables , to provide note issuance or revolving underwriting facilities and to invest in the form of equity .amounts include $ 126 billion and $ 170 billion with an original maturity of less than one year at december 31 , 2009 and december 31 , 2008 , respectively .in addition , included in this line item are highly leveraged financing commitments , which are agreements that provide funding to a borrower with higher levels of debt ( measured by the ratio of debt capital to equity capital of the borrower ) than is generally considered normal for other companies .this type of financing is commonly employed in corporate acquisitions , management buy-outs and similar transactions. .
|
what was the percentage decrease the credit card lines from 2008 to 2009
|
-21.6%
|
{
"answer": "-21.6%",
"decimal": -0.21600000000000003,
"type": "percentage"
}
| |
112 / sl green realty corp .2017 annual report 20 .commitments and contingencies legal proceedings as of december a031 , 2017 , the company and the operating partnership were not involved in any material litigation nor , to management 2019s knowledge , was any material litigation threat- ened against us or our portfolio which if adversely determined could have a material adverse impact on us .environmental matters our management believes that the properties are in compliance in all material respects with applicable federal , state and local ordinances and regulations regarding environmental issues .management is not aware of any environmental liability that it believes would have a materially adverse impact on our financial position , results of operations or cash flows .management is unaware of any instances in which it would incur significant envi- ronmental cost if any of our properties were sold .employment agreements we have entered into employment agreements with certain exec- utives , which expire between december a02018 and february a02020 .the minimum cash-based compensation , including base sal- ary and guaranteed bonus payments , associated with these employment agreements total $ 5.4 a0million for 2018 .in addition these employment agreements provide for deferred compen- sation awards based on our stock price and which were valued at $ 1.6 a0million on the grant date .the value of these awards may change based on fluctuations in our stock price .insurance we maintain 201call-risk 201d property and rental value coverage ( includ- ing coverage regarding the perils of flood , earthquake and terrorism , excluding nuclear , biological , chemical , and radiological terrorism ( 201cnbcr 201d ) ) , within three property insurance programs and liability insurance .separate property and liability coverage may be purchased on a stand-alone basis for certain assets , such as the development of one vanderbilt .additionally , our captive insurance company , belmont insurance company , or belmont , pro- vides coverage for nbcr terrorist acts above a specified trigger , although if belmont is required to pay a claim under our insur- ance policies , we would ultimately record the loss to the extent of belmont 2019s required payment .however , there is no assurance that in the future we will be able to procure coverage at a reasonable cost .further , if we experience losses that are uninsured or that exceed policy limits , we could lose the capital invested in the damaged properties as well as the anticipated future cash flows from those plan trustees adopted a rehabilitation plan consistent with this requirement .no surcharges have been paid to the pension plan as of december a031 , 2017 .for the pension plan years ended june a030 , 2017 , 2016 , and 2015 , the plan received contributions from employers totaling $ 257.8 a0million , $ 249.5 a0million , and $ 221.9 a0million .our contributions to the pension plan represent less than 5.0% ( 5.0 % ) of total contributions to the plan .the health plan was established under the terms of collective bargaining agreements between the union , the realty advisory board on labor relations , inc .and certain other employees .the health plan provides health and other benefits to eligible participants employed in the building service industry who are covered under collective bargaining agreements , or other writ- ten agreements , with the union .the health plan is administered by a board of trustees with equal representation by the employ- ers and the union and operates under employer identification number a013-2928869 .the health plan receives contributions in accordance with collective bargaining agreements or participa- tion agreements .generally , these agreements provide that the employers contribute to the health plan at a fixed rate on behalf of each covered employee .for the health plan years ended , june a030 , 2017 , 2016 , and 2015 , the plan received contributions from employers totaling $ 1.3 a0billion , $ 1.2 a0billion and $ 1.1 a0billion , respectively .our contributions to the health plan represent less than 5.0% ( 5.0 % ) of total contributions to the plan .contributions we made to the multi-employer plans for the years ended december a031 , 2017 , 2016 and 2015 are included in the table below ( in thousands ) : .
[['benefit plan', '2017', '2016', '2015'], ['pension plan', '$ 3856', '$ 3979', '$ 2732'], ['health plan', '11426', '11530', '8736'], ['other plans', '1463', '1583', '5716'], ['total plan contributions', '$ 16745', '$ 17092', '$ 17184']]
401 ( k ) plan in august a01997 , we implemented a 401 ( k ) a0savings/retirement plan , or the 401 ( k ) a0plan , to cover eligible employees of ours , and any designated affiliate .the 401 ( k ) a0plan permits eligible employees to defer up to 15% ( 15 % ) of their annual compensation , subject to certain limitations imposed by the code .the employees 2019 elective deferrals are immediately vested and non-forfeitable upon contribution to the 401 ( k ) a0plan .during a02003 , we amended our 401 ( k ) a0plan to pro- vide for discretionary matching contributions only .for 2017 , 2016 and 2015 , a matching contribution equal to 50% ( 50 % ) of the first 6% ( 6 % ) of annual compensation was made .for the year ended december a031 , 2017 , we made a matching contribution of $ 728782 .for the years ended december a031 , 2016 and 2015 , we made matching contribu- tions of $ 566000 and $ 550000 , respectively. .
|
what percentage of total contributions in 2017 was the 2017 pension plan?
|
23%
|
{
"answer": "23%",
"decimal": 0.23,
"type": "percentage"
}
| |
on october 21 , 2004 , the hartford declared a dividend on its common stock of $ 0.29 per share payable on january 3 , 2005 to shareholders of record as of december 1 , 2004 .the hartford declared $ 331 and paid $ 325 in dividends to shareholders in 2004 , declared $ 300 and paid $ 291 in dividends to shareholders in 2003 , declared $ 262 and paid $ 257 in 2002 .aoci - aoci increased by $ 179 as of december 31 , 2004 compared with december 31 , 2003 .the increase in aoci is primarily the result of life 2019s adoption of sop 03-1 , which resulted in a $ 292 cumulative effect for unrealized gains on securities in the first quarter of 2004 related to the reclassification of investments from separate account assets to general account assets , partially offset by net unrealized losses on cash-flow hedging instruments .the funded status of the company 2019s pension and postretirement plans is dependent upon many factors , including returns on invested assets and the level of market interest rates .declines in the value of securities traded in equity markets coupled with declines in long- term interest rates have had a negative impact on the funded status of the plans .as a result , the company recorded a minimum pension liability as of december 31 , 2004 , and 2003 , which resulted in an after-tax reduction of stockholders 2019 equity of $ 480 and $ 375 respectively .this minimum pension liability did not affect the company 2019s results of operations .for additional information on stockholders 2019 equity and aoci see notes 15 and 16 , respectively , of notes to consolidated financial statements .cash flow 2004 2003 2002 .
[['cash flow', '2004', '2003', '2002'], ['net cash provided by operating activities', '$ 2634', '$ 3896', '$ 2577'], ['net cash used for investing activities', '$ -2401 ( 2401 )', '$ -8387 ( 8387 )', '$ -6600 ( 6600 )'], ['net cash provided by financing activities', '$ 477', '$ 4608', '$ 4037'], ['cash 2014 end of year', '$ 1148', '$ 462', '$ 377']]
2004 compared to 2003 2014 cash from operating activities primarily reflects premium cash flows in excess of claim payments .the decrease in cash provided by operating activities was due primarily to the $ 1.15 billion settlement of the macarthur litigation in 2004 .cash provided by financing activities decreased primarily due to lower proceeds from investment and universal life-type contracts as a result of the adoption of sop 03-1 , decreased capital raising activities , repayment of commercial paper and early retirement of junior subordinated debentures in 2004 .the decrease in cash from financing activities and operating cash flows invested long-term accounted for the majority of the change in cash used for investing activities .2003 compared to 2002 2014 the increase in cash provided by operating activities was primarily the result of strong premium cash flows .financing activities increased primarily due to capital raising activities related to the 2003 asbestos reserve addition and decreased due to repayments on long-term debt and lower proceeds from investment and universal life-type contracts .the increase in cash from financing activities accounted for the majority of the change in cash used for investing activities .operating cash flows in each of the last three years have been adequate to meet liquidity requirements .equity markets for a discussion of the potential impact of the equity markets on capital and liquidity , see the capital markets risk management section under 201cmarket risk 201d .ratings ratings are an important factor in establishing the competitive position in the insurance and financial services marketplace .there can be no assurance that the company's ratings will continue for any given period of time or that they will not be changed .in the event the company's ratings are downgraded , the level of revenues or the persistency of the company's business may be adversely impacted .on august 4 , 2004 , moody 2019s affirmed the company 2019s and hartford life , inc . 2019s a3 senior debt ratings as well as the aa3 insurance financial strength ratings of both its property-casualty and life insurance operating subsidiaries .in addition , moody 2019s changed the outlook for all of these ratings from negative to stable .since the announcement of the suit filed by the new york attorney general 2019s office against marsh & mclennan companies , inc. , and marsh , inc .on october 14 , 2004 , the major independent ratings agencies have indicated that they continue to monitor developments relating to the suit .on october 22 , 2004 , standard & poor 2019s revised its outlook on the u.s .property/casualty commercial lines sector to negative from stable .on november 23 , 2004 , standard & poor 2019s revised its outlook on the financial strength and credit ratings of the property-casualty insurance subsidiaries to negative from stable .the outlook on the life insurance subsidiaries and corporate debt was unaffected. .
|
what is the chance in net cash flow generated from operating activities from 2003 to 2004?
|
-1262
|
{
"answer": "-1262",
"decimal": -1262,
"type": "float"
}
| |
issuer purchases of equity securities during the three months ended december 31 , 2007 , we repurchased 8895570 shares of our class a common stock for an aggregate of $ 385.1 million pursuant to the $ 1.5 billion stock repurchase program publicly announced in february 2007 , as follows : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) .
[['period', 'total number of shares purchased ( 1 )', 'average price paid per share', 'total number of shares purchased as part of publicly announced plans or programs', 'approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions )'], ['october 2007', '3493426', '$ 43.30', '3493426', '$ 449.9'], ['november 2007', '2891719', '$ 44.16', '2891719', '$ 322.2'], ['december 2007', '2510425', '$ 44.20', '2510425', '$ 216.2'], ['total fourth quarter', '8895570', '$ 43.27', '8895570', '$ 216.2']]
( 1 ) issuer repurchases pursuant to the $ 1.5 billion stock repurchase program publicly announced in february 2007 .under this program , our management was authorized through february 2008 to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors .to facilitate repurchases , we typically made purchases pursuant to trading plans under rule 10b5-1 of the exchange act , which allow us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods .subsequent to december 31 , 2007 , we repurchased 4.3 million shares of our class a common stock for an aggregate of $ 163.7 million pursuant to this program .in february 2008 , our board of directors approved a new stock repurchase program , pursuant to which we are authorized to purchase up to an additional $ 1.5 billion of our class a common stock .purchases under this stock repurchase program are subject to us having available cash to fund repurchases , as further described in item 1a of this annual report under the caption 201crisk factors 2014we anticipate that we may need additional financing to fund our stock repurchase programs , to refinance our existing indebtedness and to fund future growth and expansion initiatives 201d and item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources . 201d .
|
what is the total amount spent for stock repurchase during november 2007 , in millions?
|
127.7
|
{
"answer": "127.7",
"decimal": 127.7,
"type": "float"
}
|
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