Context
stringlengths 523
16k
| Question
stringlengths 26
367
| Answer
stringlengths 1
335
| Ground_truths
dict | Explanation
stringclasses 898
values |
|---|---|---|---|---|
in emerging markets , such as ghana , india , nigeria and uganda , wireless networks tend to be significantly less advanced than those in the united states , and initial voice networks continue to be deployed in underdeveloped areas .a majority of consumers in these markets still utilize basic wireless services , predominantly on feature phones , while advanced device penetration remains low .in more developed urban locations within these markets , early-stage data network deployments are underway .carriers are focused on completing voice network build-outs while also investing in initial data networks as wireless data usage and smartphone penetration within their customer bases begin to accelerate .in markets with rapidly evolving network technology , such as south africa and most of the countries in latin america where we do business , initial voice networks , for the most part , have already been built out , and carriers are focused on 3g and 4g network build outs .consumers in these regions are increasingly adopting smartphones and other advanced devices , and , as a result , the usage of bandwidth-intensive mobile applications is growing materially .recent spectrum auctions in these rapidly evolving markets have allowed incumbent carriers to accelerate their data network deployments and have also enabled new entrants to begin initial investments in data networks .smartphone penetration and wireless data usage in these markets are growing rapidly , which typically requires that carriers continue to invest in their networks in order to maintain and augment their quality of service .finally , in markets with more mature network technology , such as germany and france , carriers are focused on deploying 4g data networks to account for rapidly increasing wireless data usage among their customer base .with higher smartphone and advanced device penetration and significantly higher per capita data usage , carrier investment in networks is focused on 4g coverage and capacity .we believe that the network technology migration we have seen in the united states , which has led to significantly denser networks and meaningful new business commencements for us over a number of years , will ultimately be replicated in our less advanced international markets .as a result , we expect to be able to leverage our extensive international portfolio of approximately 104470 communications sites and the relationships we have built with our carrier customers to drive sustainable , long-term growth .we have master lease agreements with certain of our tenants that provide for consistent , long-term revenue and reduce the likelihood of churn .our master lease agreements build and augment strong strategic partnerships with our tenants and have significantly reduced colocation cycle times , thereby providing our tenants with the ability to rapidly and efficiently deploy equipment on our sites .property operations new site revenue growth .during the year ended december 31 , 2016 , we grew our portfolio of communications real estate through the acquisition and construction of approximately 45310 sites .in a majority of our asia , emea and latin america markets , the revenue generated from newly acquired or constructed sites resulted in increases in both tenant and pass-through revenues ( such as ground rent or power and fuel costs ) and expenses .we continue to evaluate opportunities to acquire 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 )', '2016', '2015', '2014'], ['u.s .', '65', '11595', '900'], ['asia', '43865', '2330', '1560'], ['emea', '665', '4910', '190'], ['latin america', '715', '6535', '5800']]
property operations expenses .direct operating expenses incurred by our property segments include direct site level expenses and consist primarily of ground rent and power and fuel costs , some or all of which may be passed through to our tenants , as well as property taxes , repairs and maintenance .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 property segments 2019 selling , general , administrative and development expenses do not significantly increase as a result of adding incremental tenants to our sites and typically increase only modestly year-over-year .as a result , leasing additional space to new tenants on our sites provides significant incremental cash flow .we may , however , incur additional segment selling , general , administrative and development expenses as we increase our presence in our existing markets or expand into new markets .our profit margin growth is therefore positively impacted by the addition of new tenants to our sites but can be temporarily diluted by our development activities. .
|
what was the ratio of the growth of the communications real estate portfoliosfor the emea to us in 2016
|
10.23
|
{
"answer": "10.23",
"decimal": 10.23,
"type": "float"
}
| |
entergy arkansas , inc .management's financial discussion and analysis results of operations net income 2008 compared to 2007 net income decreased $ 92.0 million primarily due to higher other operation and maintenance expenses , higher depreciation and amortization expenses , and a higher effective income tax rate , partially offset by higher net revenue .the higher other operation and maintenance expenses resulted primarily from the write-off of approximately $ 70.8 million of costs as a result of the december 2008 arkansas court of appeals decision in entergy arkansas' base rate case .the base rate case is discussed in more detail in note 2 to the financial statements .2007 compared to 2006 net income decreased $ 34.0 million primarily due to higher other operation and maintenance expenses , higher depreciation and amortization expenses , and a higher effective income tax rate .the decrease was partially offset by higher net revenue .net revenue 2008 compared to 2007 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory credits .following is an analysis of the change in net revenue comparing 2008 to 2007 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2007 net revenue', '$ 1110.6'], ['rider revenue', '13.6'], ['purchased power capacity', '4.8'], ['volume/weather', '-14.6 ( 14.6 )'], ['other', '3.5'], ['2008 net revenue', '$ 1117.9']]
the rider revenue variance is primarily due to an energy efficiency rider which became effective in november 2007 .the establishment of the rider results in an increase in rider revenue and a corresponding increase in other operation and maintenance expense with no effect on net income .also contributing to the variance was an increase in franchise tax rider revenue as a result of higher retail revenues .the corresponding increase is in taxes other than income taxes , resulting in no effect on net income .the purchased power capacity variance is primarily due to lower reserve equalization expenses .the volume/weather variance is primarily due to the effect of less favorable weather on residential and commercial sales during the billed and unbilled sales periods compared to 2007 and a 2.9% ( 2.9 % ) volume decrease in industrial sales , primarily in the wood industry and the small customer class .billed electricity usage decreased 333 gwh in all sectors .see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues. .
|
what is the percent change in net revenue between 2007 and 2008?
|
0.7%
|
{
"answer": "0.7%",
"decimal": 0.006999999999999999,
"type": "percentage"
}
| |
performance graph the performance graph below shows the five-year cumulative total stockholder return on applied common stock during the period from october 25 , 2009 through october 26 , 2014 .this is compared with the cumulative total return of the standard & poor 2019s 500 stock index and the rdg semiconductor composite index over the same period .the comparison assumes $ 100 was invested on october 25 , 2009 in applied common stock and in each of the foregoing indices and assumes reinvestment of dividends , if any .dollar amounts in the graph are rounded to the nearest whole dollar .the performance shown in the graph represents past performance and should not be considered an indication of future performance .comparison of 5 year cumulative total return* among applied materials , inc. , the s&p 500 index 201cs&p 201d is a registered trademark of standard & poor 2019s financial services llc , a subsidiary of the mcgraw-hill companies , inc. .
[['', '10/25/2009', '10/31/2010', '10/30/2011', '10/28/2012', '10/27/2013', '10/26/2014'], ['applied materials', '100.00', '97.43', '101.85', '88.54', '151.43', '183.29'], ['s&p 500 index', '100.00', '116.52', '125.94', '145.09', '184.52', '216.39'], ['rdg semiconductor composite index', '100.00', '121.00', '132.42', '124.95', '163.20', '207.93']]
dividends during fiscal 2014 , applied 2019s board of directors declared four quarterly cash dividends of $ 0.10 per share each .during fiscal 2013 , applied 2019s board of directors declared three quarterly cash dividends of $ 0.10 per share each and one quarterly cash dividend of $ 0.09 per share .during fiscal 2012 , applied 2019s board of directors declared three quarterly cash dividends of $ 0.09 per share each and one quarterly cash dividend of $ 0.08 .dividends declared during fiscal 2014 , 2013 and 2012 totaled $ 487 million , $ 469 million and $ 438 million , respectively .applied currently anticipates that it will continue to pay cash dividends on a quarterly basis in the future , although the declaration and amount of any future cash dividends are at the discretion of the board of directors and will depend on applied 2019s financial condition , results of operations , capital requirements , business conditions and other factors , as well as a determination that cash dividends are in the best interests of applied 2019s stockholders .$ 100 invested on 10/25/09 in stock or 10/31/09 in index , including reinvestment of dividends .indexes calculated on month-end basis .and the rdg semiconductor composite index 183145 97 102 121 132 10/25/09 10/31/10 10/30/11 10/28/12 10/27/13 10/26/14 applied materials , inc .s&p 500 rdg semiconductor composite .
|
what is the return on investment for applied materials if the investment occurred in 2009 and it is liquidated in 2012?
|
11.5%
|
{
"answer": "11.5%",
"decimal": 0.115,
"type": "percentage"
}
| |
note 9 : stock based compensation the company has granted stock option and restricted stock unit ( 201crsus 201d ) awards to non-employee directors , officers and other key employees of the company pursuant to the terms of its 2007 omnibus equity compensation plan ( the 201c2007 plan 201d ) .the total aggregate number of shares of common stock that may be issued under the 2007 plan is 15.5 .as of december 31 , 2015 , 8.4 shares were available for grant under the 2007 plan .shares issued under the 2007 plan may be authorized-but-unissued shares of company stock or reacquired shares of company stock , including shares purchased by the company on the open market .the company recognizes compensation expense for stock awards over the vesting period of the award .the following table presents stock-based compensation expense recorded in operation and maintenance expense in the accompanying consolidated statements of operations for the years ended december 31: .
[['', '2015', '2014', '2013'], ['stock options', '$ 2', '$ 2', '$ 3'], ['rsus', '8', '10', '9'], ['espp', '1', '1', '1'], ['stock-based compensation', '11', '13', '13'], ['income tax benefit', '-4 ( 4 )', '-5 ( 5 )', '-5 ( 5 )'], ['stock-based compensation expense net of tax', '$ 7', '$ 8', '$ 8']]
there were no significant stock-based compensation costs capitalized during the years ended december 31 , 2015 , 2014 and 2013 .the cost of services received from employees in exchange for the issuance of stock options and restricted stock awards is measured based on the grant date fair value of the awards issued .the value of stock options and rsus awards at the date of the grant is amortized through expense over the three-year service period .all awards granted in 2015 , 2014 and 2013 are classified as equity .the company receives a tax deduction based on the intrinsic value of the award at the exercise date for stock options and the distribution date for rsus .for each award , throughout the requisite service period , the company recognizes the tax benefits , which have been included in deferred income tax assets , related to compensation costs .the tax deductions in excess of the benefits recorded throughout the requisite service period are recorded to common stockholders 2019 equity or the statement of operations and are presented in the financing section of the consolidated statements of cash flows .the company stratified its grant populations and used historic employee turnover rates to estimate employee forfeitures .the estimated rate is compared to the actual forfeitures at the end of the reporting period and adjusted as necessary .stock options in 2015 , 2014 and 2013 , the company granted non-qualified stock options to certain employees under the 2007 plan .the stock options vest ratably over the three-year service period beginning on january 1 of the year of the grant .these awards have no performance vesting conditions and the grant date fair value is amortized through expense over the requisite service period using the straight-line method and is included in operations and maintenance expense in the accompanying consolidated statements of operations. .
|
at what tax rate was stock-based compensation taxed at in 2018?
|
36.4%
|
{
"answer": "36.4%",
"decimal": 0.364,
"type": "percentage"
}
| |
table of contents the following discussion of nonoperating income and expense excludes the results of us airways in order to provide a more meaningful year-over-year comparison .interest expense , net of capitalized interest decreased $ 129 million in 2014 from 2013 primarily due to a $ 63 million decrease in special charges recognized year-over-year as further described below , as well as refinancing activities that resulted in $ 65 million less interest expense recognized in 2014 .( 1 ) in 2014 , american recognized $ 29 million of special charges relating to non-cash interest accretion on bankruptcy settlement obligations .in 2013 , american recognized $ 48 million of special charges relating to post-petition interest expense on unsecured obligations pursuant to the plan and penalty interest related to american 2019s 10.5% ( 10.5 % ) secured notes and 7.50% ( 7.50 % ) senior secured notes .in addition , in 2013 american recorded special charges of $ 44 million for debt extinguishment costs incurred as a result of the repayment of certain aircraft secured indebtedness , including cash interest charges and non-cash write offs of unamortized debt issuance costs .( 2 ) as a result of the 2013 refinancing activities and the early extinguishment of american 2019s 7.50% ( 7.50 % ) senior secured notes in 2014 , american incurred $ 65 million less interest expense in 2014 as compared to 2013 .other nonoperating expense , net in 2014 consisted of $ 92 million of net foreign currency losses , including a $ 43 million special charge for venezuelan foreign currency losses , and $ 48 million of early debt extinguishment costs related to the prepayment of american 2019s 7.50% ( 7.50 % ) senior secured notes and other indebtedness .the foreign currency losses were driven primarily by the strengthening of the u.s .dollar relative to other currencies during 2014 , principally in the latin american market , including a 48% ( 48 % ) decrease in the value of the venezuelan bolivar and a 14% ( 14 % ) decrease in the value of the brazilian real .other nonoperating expense , net in 2013 consisted principally of net foreign currency losses of $ 55 million and early debt extinguishment charges of $ 29 million .reorganization items , net reorganization items refer to revenues , expenses ( including professional fees ) , realized gains and losses and provisions for losses that are realized or incurred as a direct result of the chapter 11 cases .the following table summarizes the components included in reorganization items , net on american 2019s consolidated statement of operations for the year ended december 31 , 2013 ( in millions ) : .
[['', '2013'], ['labor-related deemed claim ( 1 )', '$ 1733'], ['aircraft and facility financing renegotiations and rejections ( 2 ) ( 3 )', '320'], ['fair value of conversion discount ( 4 )', '218'], ['professional fees', '199'], ['other', '170'], ['total reorganization items net', '$ 2640']]
( 1 ) in exchange for employees 2019 contributions to the successful reorganization , including agreeing to reductions in pay and benefits , american agreed in the plan to provide each employee group a deemed claim , which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees .each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes .the total value of this deemed claim was approximately $ 1.7 billion .( 2 ) amounts include allowed claims ( claims approved by the bankruptcy court ) and estimated allowed claims relating to ( i ) the rejection or modification of financings related to aircraft and ( ii ) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue .
|
what was the ratio of the 2014 non operating expense related to early debt extinguishment charges to 2013
|
1.7
|
{
"answer": "1.7",
"decimal": 1.7,
"type": "float"
}
|
for every dollar spent in 2013 on early debt extinguishment charges $ 1.7 was spent in 2014
|
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 7 .derivative financial instruments under the terms of the credit facility , the company is required to enter into interest rate protection agreements on at least 50% ( 50 % ) of its variable rate debt .under these agreements , the company is exposed to credit risk to the extent that a counterparty fails to meet the terms of a contract .such exposure is limited to the current value of the contract at the time the counterparty fails to perform .the company believes its contracts as of december 31 , 2004 are with credit worthy institutions .as of december 31 , 2004 , the company had two interest rate caps outstanding with an aggregate notional amount of $ 350.0 million ( each at an interest rate of 6.0% ( 6.0 % ) ) that expire in 2006 .as of december 31 , 2003 , the company had three interest rate caps outstanding with an aggregate notional amount of $ 500.0 million ( each at a rate of 5.0% ( 5.0 % ) ) that expired in 2004 .as of december 31 , 2004 and 2003 , there was no fair value associated with any of these interest rate caps .during the year ended december 31 , 2003 , the company recorded an unrealized loss of approximately $ 0.3 million ( net of a tax benefit of approximately $ 0.2 million ) in other comprehensive loss for the change in fair value of cash flow hedges and reclassified $ 5.9 million ( net of a tax benefit of approximately $ 3.2 million ) into results of operations .during the year ended december 31 , 2002 , the company recorded an unrealized loss of approximately $ 9.1 million ( net of a tax benefit of approximately $ 4.9 million ) in other comprehensive loss for the change in fair value of cash flow hedges and reclassified $ 19.5 million ( net of a tax benefit of approximately $ 10.5 million ) into results of operations .hedge ineffectiveness resulted in a gain of approximately $ 1.0 million for the year ended december 31 , 2002 , which is recorded in other expense in the accompanying consolidated statement of operations .the company records the changes in fair value of its derivative instruments that are not accounted for as hedges in other expense .the company did not reclassify any derivative losses into its statement of operations for the year ended december 31 , 2004 and does not anticipate reclassifying any derivative losses into its statement of operations within the next twelve months , as there are no amounts included in other comprehensive loss as of december 31 , 2004 .8 .commitments and contingencies lease obligations 2014the company leases certain land , office and tower space under operating leases that expire over various terms .many of the leases contain renewal options with specified increases in lease payments upon exercise of the renewal option .escalation clauses present in operating leases , excluding those tied to cpi or other inflation-based indices , are straight-lined over the term of the lease .( see note 1. ) future minimum rental payments under non-cancelable operating leases include payments for certain renewal periods at the company 2019s option because failure to renew could result in a loss of the applicable tower site and related revenues from tenant leases , thereby making it reasonably assured that the company will renew the lease .such payments in effect at december 31 , 2004 are as follows ( in thousands ) : year ending december 31 .
[['2005', '$ 106116'], ['2006', '106319'], ['2007', '106095'], ['2008', '106191'], ['2009', '106214'], ['thereafter', '1570111'], ['total', '$ 2101046']]
aggregate rent expense ( including the effect of straight-line rent expense ) under operating leases for the years ended december 31 , 2004 , 2003 and 2002 approximated $ 118741000 , $ 113956000 , and $ 109644000 , respectively. .
|
as of december 2004 what was the percent of the total future minimum rental payments under non-cancelable operating leases due in 2009
|
5.1%
|
{
"answer": "5.1%",
"decimal": 0.051,
"type": "percentage"
}
| |
o .segment information 2013 ( concluded ) ( 1 ) included in net sales were export sales from the u.s .of $ 246 million , $ 277 million and $ 275 million in 2010 , 2009 and 2008 , respectively .( 2 ) intra-company sales between segments represented approximately two percent of net sales in 2010 , three percent of net sales in 2009 and one percent of net sales in 2008 .( 3 ) included in net sales were sales to one customer of $ 1993 million , $ 2053 million and $ 2058 million in 2010 , 2009 and 2008 , respectively .such net sales were included in the following segments : cabinets and related products , plumbing products , decorative architectural products and other specialty products .( 4 ) net sales from the company 2019s operations in the u.s .were $ 5618 million , $ 5952 million and $ 7150 million in 2010 , 2009 and 2008 , respectively .( 5 ) net sales , operating ( loss ) profit , property additions and depreciation and amortization expense for 2010 , 2009 and 2008 excluded the results of businesses reported as discontinued operations in 2010 , 2009 and 2008 .( 6 ) included in segment operating ( loss ) profit for 2010 were impairment charges for goodwill and other intangible assets as follows : plumbing products 2013 $ 1 million ; and installation and other services 2013 $ 720 million .included in segment operating profit ( loss ) for 2009 were impairment charges for goodwill as follows : plumbing products 2013 $ 39 million ; other specialty products 2013 $ 223 million .included in segment operating profit ( loss ) for 2008 were impairment charges for goodwill and other intangible assets as follows : cabinets and related products 2013 $ 59 million ; plumbing products 2013 $ 203 million ; installation and other services 2013 $ 52 million ; and other specialty products 2013 $ 153 million .( 7 ) general corporate expense , net included those expenses not specifically attributable to the company 2019s segments .( 8 ) during 2009 , the company recognized a curtailment loss related to the plan to freeze all future benefit accruals beginning january 1 , 2010 under substantially all of the company 2019s domestic qualified and non-qualified defined-benefit pension plans .see note m to the consolidated financial statements .( 9 ) the charge for litigation settlement in 2009 relates to a business unit in the cabinets and related products segment .the charge for litigation settlement in 2008 relates to a business unit in the installation and other services segment .( 10 ) see note l to the consolidated financial statements .( 11 ) long-lived assets of the company 2019s operations in the u.s .and europe were $ 3684 million and $ 617 million , $ 4628 million and $ 690 million , and $ 4887 million and $ 770 million at december 31 , 2010 , 2009 and 2008 , respectively .( 12 ) segment assets for 2009 and 2008 excluded the assets of businesses reported as discontinued operations .p .other income ( expense ) , net other , net , which is included in other income ( expense ) , net , was as follows , in millions: .
[['', '2010', '2009', '2008'], ['income from cash and cash investments', '$ 6', '$ 7', '$ 22'], ['other interest income', '1', '2', '2'], ['income from financial investments net ( note e )', '9', '3', '1'], ['other items net', '-9 ( 9 )', '17', '-22 ( 22 )'], ['total other net', '$ 7', '$ 29', '$ 3']]
masco corporation notes to consolidated financial statements 2014 ( continued ) .
|
what was the percentage increase in the income from financial investments net ( note e ) from 2009 to 2010
|
200%
|
{
"answer": "200%",
"decimal": 2,
"type": "percentage"
}
| |
generate cash without additional external financings .free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities .the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : millions 2014 2013 2012 .
[['millions', '2014', '2013', '2012'], ['cash provided by operating activities', '$ 7385', '$ 6823', '$ 6161'], ['cash used in investing activities', '-4249 ( 4249 )', '-3405 ( 3405 )', '-3633 ( 3633 )'], ['dividends paid', '-1632 ( 1632 )', '-1333 ( 1333 )', '-1146 ( 1146 )'], ['free cash flow', '$ 1504', '$ 2085', '$ 1382']]
2015 outlook f0b7 safety 2013 operating a safe railroad benefits all our constituents : our employees , customers , shareholders and the communities we serve .we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , quality control , training and employee engagement , and targeted capital investments .we will continue using and expanding the deployment of total safety culture and courage to care throughout our operations , which allows us to identify and implement best practices for employee and operational safety .we will continue our efforts to increase detection of rail defects ; improve or close crossings ; and educate the public and law enforcement agencies about crossing safety through a combination of our own programs ( including risk assessment strategies ) , industry programs and local community activities across our network .f0b7 network operations 2013 in 2015 , we will continue to add resources to support growth , improve service , and replenish our surge capability .f0b7 fuel prices 2013 with the dramatic drop in fuel prices at the end of 2014 , there is even more uncertainty around the projections of fuel prices .we again could see volatile fuel prices during the year , as they are sensitive to global and u.s .domestic demand , refining capacity , geopolitical events , weather conditions and other factors .as prices fluctuate there will be a timing impact on earnings , as our fuel surcharge programs trail fluctuations in fuel price by approximately two months .lower fuel prices could have a positive impact on the economy by increasing consumer discretionary spending that potentially could increase demand for various consumer products that we transport .alternatively , lower fuel prices will likely have a negative impact on other commodities such as coal , frac sand and crude oil shipments .f0b7 capital plan 2013 in 2015 , we expect our capital plan to be approximately $ 4.3 billion , including expenditures for ptc and 218 locomotives .the capital plan may be revised if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments .( see further discussion in this item 7 under liquidity and capital resources 2013 capital plan. ) f0b7 financial expectations 2013 we expect the overall u.s .economy to continue to improve at a moderate pace .one of the biggest uncertainties is the outlook for energy markets , which will bring both challenges and opportunities .on balance , we expect to see positive volume growth for 2015 versus the prior year .in the current environment , we expect continued margin improvement driven by continued pricing opportunities , ongoing productivity initiatives and the ability to leverage our resources as we improve the fluidity of our network. .
|
is 2014 operating cash flow sufficient to satisfy budgeted 2015 capital expenditures?
|
yes
|
{
"answer": "yes",
"decimal": 1,
"type": "bool"
}
| |
2009 vs .2008 revenues , net of interest expense increased 11% ( 11 % ) or $ 2.7 billion , as markets began to recover in the early part of 2009 , bringing back higher levels of volume activity and higher levels of liquidity , which began to decline again in the third quarter of 2009 .the growth in revenue in the early part of the year was mainly due to a $ 7.1 billion increase in fixed income markets , reflecting strong trading opportunities across all asset classes in the first half of 2009 , and a $ 1.5 billion increase in investment banking revenue primarily from increases in debt and equity underwriting activities reflecting higher transaction volumes from depressed 2008 levels .these increases were offset by a $ 6.4 billion decrease in lending revenue primarily from losses on credit default swap hedges .excluding the 2009 and 2008 cva impact , as indicated in the table below , revenues increased 23% ( 23 % ) or $ 5.5 billion .operating expenses decreased 17% ( 17 % ) , or $ 2.7 billion .excluding the 2008 repositioning and restructuring charges and the 2009 litigation reserve release , operating expenses declined 11% ( 11 % ) or $ 1.6 billion , mainly as a result of headcount reductions and benefits from expense management .provisions for loan losses and for benefits and claims decreased 7% ( 7 % ) or $ 129 million , to $ 1.7 billion , mainly due to lower credit reserve builds and net credit losses , due to an improved credit environment , particularly in the latter part of the year .2008 vs .2007 revenues , net of interest expense decreased 2% ( 2 % ) or $ 0.4 billion reflecting the overall difficult market conditions .excluding the 2008 and 2007 cva impact , revenues decreased 3% ( 3 % ) or $ 0.6 billion .the reduction in revenue was primarily due to a decrease in investment banking revenue of $ 2.3 billion to $ 3.2 billion , mainly in debt and equity underwriting , reflecting lower volumes , and a decrease in equity markets revenue of $ 2.3 billion to $ 2.9 billion due to extremely high volatility and reduced levels of activity .these reductions were offset by an increase in fixed income markets of $ 2.9 billion to $ 14.4 billion due to strong performance in interest rates and currencies , and an increase in lending revenue of $ 2.4 billion to $ 4.2 billion mainly from gains on credit default swap hedges .operating expenses decreased by 2% ( 2 % ) or $ 0.4 billion .excluding the 2008 and 2007 repositioning and restructuring charges and the 2007 litigation reserve reversal , operating expenses decreased by 7% ( 7 % ) or $ 1.1 billion driven by headcount reduction and lower performance-based incentives .provisions for credit losses and for benefits and claims increased $ 1.3 billion to $ 1.8 billion mainly from higher credit reserve builds and net credit losses offset by a lower provision for unfunded lending commitments due to deterioration in the credit environment .certain revenues impacting securities and banking items that impacted s&b revenues during 2009 and 2008 are set forth in the table below. .
[['in millions of dollars', 'pretax revenue 2009', 'pretax revenue 2008'], ['private equity and equity investments', '$ 201', '$ -377 ( 377 )'], ['alt-a mortgages ( 1 ) ( 2 )', '321', '-737 ( 737 )'], ['commercial real estate ( cre ) positions ( 1 ) ( 3 )', '68', '270'], ['cva on citi debt liabilities under fair value option', '-3974 ( 3974 )', '4325'], ['cva on derivatives positions excluding monoline insurers', '2204', '-3292 ( 3292 )'], ['total significant revenue items', '$ -1180 ( 1180 )', '$ 189']]
( 1 ) net of hedges .( 2 ) for these purposes , alt-a mortgage securities are non-agency residential mortgage-backed securities ( rmbs ) where ( i ) the underlying collateral has weighted average fico scores between 680 and 720 or ( ii ) for instances where fico scores are greater than 720 , rmbs have 30% ( 30 % ) or less of the underlying collateral composed of full documentation loans .see 201cmanaging global risk 2014credit risk 2014u.s .consumer mortgage lending . 201d ( 3 ) s&b 2019s commercial real estate exposure is split into three categories of assets : held at fair value ; held- to-maturity/held-for-investment ; and equity .see 201cmanaging global risk 2014credit risk 2014exposure to commercial real estate 201d section for a further discussion .in the table above , 2009 includes a $ 330 million pretax adjustment to the cva balance , which reduced pretax revenues for the year , reflecting a correction of an error related to prior periods .see 201csignificant accounting policies and significant estimates 201d below and notes 1 and 34 to the consolidated financial statements for a further discussion of this adjustment .2010 outlook the 2010 outlook for s&b will depend on the level of client activity and on macroeconomic conditions , market valuations and volatility , interest rates and other market factors .management of s&b currently expects to maintain client activity throughout 2010 and to operate in market conditions that offer moderate volatility and increased liquidity .operating expenses will benefit from continued re-engineering and expense management initiatives , but will be offset by investments in talent and infrastructure to support growth. .
|
what was the net change in the private equity and equity investments from 2008 to 2009 in millions
|
578
|
{
"answer": "578",
"decimal": 578,
"type": "float"
}
|
the private equity and equity investments increased by 578 million from 2008 to 2009
|
notes to consolidated financial statements 236 jpmorgan chase & co./2010 annual report the table below sets forth the accretable yield activity for the firm 2019s pci consumer loans for the years ended december 31 , 2010 , 2009 and .
[['year ended december 31 , ( in millions except ratios )', 'year ended december 31 , 2010', 'year ended december 31 , 2009', '2008'], ['balance january 1', '$ 25544', '$ 32619', '$ 2014'], ['washington mutual acquisition', '2014', '2014', '39454'], ['accretion into interest income', '-3232 ( 3232 )', '-4363 ( 4363 )', '-1292 ( 1292 )'], ['changes in interest rates on variable rate loans', '-819 ( 819 )', '-4849 ( 4849 )', '-5543 ( 5543 )'], ['other changes in expected cash flows ( a )', '-2396 ( 2396 )', '2137', '2014'], ['balance december 31', '$ 19097', '$ 25544', '$ 32619'], ['accretable yield percentage', '4.35% ( 4.35 % )', '5.14% ( 5.14 % )', '5.81% ( 5.81 % )']]
( a ) other changes in expected cash flows may vary from period to period as the firm continues to refine its cash flow model and periodically updates model assumptions .for the years ended december 31 , 2010 and 2009 , other changes in expected cash flows were principally driven by changes in prepayment assumptions , as well as reclassification to the nonaccretable difference .such changes are expected to have an insignificant impact on the accretable yield percentage .the factors that most significantly affect estimates of gross cash flows expected to be collected , and accordingly the accretable yield balance , include : ( i ) changes in the benchmark interest rate indices for variable rate products such as option arm and home equity loans ; and ( ii ) changes in prepayment assump- tions .to date , the decrease in the accretable yield percentage has been primarily related to a decrease in interest rates on vari- able-rate loans and , to a lesser extent , extended loan liquida- tion periods .certain events , such as extended loan liquidation periods , affect the timing of expected cash flows but not the amount of cash expected to be received ( i.e. , the accretable yield balance ) .extended loan liquidation periods reduce the accretable yield percentage because the same accretable yield balance is recognized against a higher-than-expected loan balance over a longer-than-expected period of time. .
|
what was the average balance of total pci consumer loans for the years ended december 31 , 2010 and 2009?
|
22321
|
{
"answer": "22321",
"decimal": 22321,
"type": "float"
}
| |
credits and deductions identified in fiscal 2010 that related to prior periods .these benefits were offset , in part , by unfavorable tax consequences of the patient protection and affordable care act and the health care and education reconciliation act of 2010 .the company expects its effective tax rate in fiscal 2011 , exclusive of any unusual transactions or tax events , to be approximately 34% ( 34 % ) .equity method investment earnings we include our share of the earnings of certain affiliates based on our economic ownership interest in the affiliates .significant affiliates produce and market potato products for retail and foodservice customers .our share of earnings from our equity method investments was $ 22 million ( $ 2 million in the consumer foods segment and $ 20 million in the commercial foods segment ) and $ 24 million ( $ 3 million in the consumer foods segment and $ 21 million in the commercial foods segment ) in fiscal 2010 and 2009 , respectively .equity method investment earnings in the commercial foods segment reflects continued difficult market conditions for our foreign and domestic potato ventures .results of discontinued operations our discontinued operations generated an after-tax loss of $ 22 million in fiscal 2010 and earnings of $ 361 million in fiscal 2009 .in fiscal 2010 , we decided to divest our dehydrated vegetable operations .as a result of this decision , we recognized an after-tax impairment charge of $ 40 million in fiscal 2010 , representing a write- down of the carrying value of the related long-lived assets to fair value , based on the anticipated sales proceeds .in fiscal 2009 , we completed the sale of the trading and merchandising operations and recognized an after-tax gain on the disposition of approximately $ 301 million .in the fourth quarter of fiscal 2009 , we decided to sell certain small foodservice brands .the sale of these brands was completed in june 2009 .we recognized after-tax impairment charges of $ 6 million in fiscal 2009 , in anticipation of this divestiture .earnings per share our diluted earnings per share in fiscal 2010 were $ 1.62 ( including earnings of $ 1.67 per diluted share from continuing operations and a loss of $ 0.05 per diluted share from discontinued operations ) .our diluted earnings per share in fiscal 2009 were $ 2.15 ( including earnings of $ 1.36 per diluted share from continuing operations and $ 0.79 per diluted share from discontinued operations ) see 201citems impacting comparability 201d above as several other significant items affected the comparability of year-over-year results of operations .2009 vs .2008 net sales ( $ in millions ) reporting segment fiscal 2009 net sales fiscal 2008 net sales % ( % ) increase .
[['reporting segment', 'fiscal 2009 net sales', 'fiscal 2008 net sales', '% ( % ) increase'], ['consumer foods', '$ 7979', '$ 7400', '8% ( 8 % )'], ['commercial foods', '4447', '3848', '16% ( 16 % )'], ['total', '$ 12426', '$ 11248', '11% ( 11 % )']]
overall , our net sales increased $ 1.18 billion to $ 12.43 billion in fiscal 2009 , reflecting improved pricing and mix in the consumer foods segment and increased pricing in the milling and specialty potato operations of the commercial foods segment , as well as an additional week in fiscal 2009 .consumer foods net sales for fiscal 2009 were $ 7.98 billion , an increase of 8% ( 8 % ) compared to fiscal 2008 .results reflected an increase of 7% ( 7 % ) from improved net pricing and product mix and flat volume .volume reflected a benefit of approximately 2% ( 2 % ) in fiscal 2009 due to the inclusion of an additional week of results .the strengthening of the u.s .dollar relative to foreign currencies resulted in a reduction of net sales of approximately 1% ( 1 % ) as compared to fiscal 2008. .
|
what percentage of fiscal 2008 total net sales was due to commercial foods?
|
34%
|
{
"answer": "34%",
"decimal": 0.34,
"type": "percentage"
}
| |
2015 and 2014 was $ 1.5 billion and $ 1.3 billion .the aggregate notional amount of our outstanding foreign currency hedges at december 31 , 2015 and 2014 was $ 4.1 billion and $ 804 million .derivative instruments did not have a material impact on net earnings and comprehensive income during 2015 , 2014 and 2013 .substantially all of our derivatives are designated for hedge accounting .see note 16 for more information on the fair value measurements related to our derivative instruments .recent accounting pronouncements 2013 in may 2014 , the fasb issued a new standard that will change the way we recognize revenue and significantly expand the disclosure requirements for revenue arrangements .on july 9 , 2015 , the fasb approved a one-year deferral of the effective date of the standard to 2018 for public companies , with an option that would permit companies to adopt the standard in 2017 .early adoption prior to 2017 is not permitted .the new standard may be adopted either retrospectively or on a modified retrospective basis whereby the new standard would be applied to new contracts and existing contracts with remaining performance obligations as of the effective date , with a cumulative catch-up adjustment recorded to beginning retained earnings at the effective date for existing contracts with remaining performance obligations .in addition , the fasb is contemplating making additional changes to certain elements of the new standard .we are currently evaluating the methods of adoption allowed by the new standard and the effect the standard is expected to have on our consolidated financial statements and related disclosures .as the new standard will supersede substantially all existing revenue guidance affecting us under gaap , it could impact revenue and cost recognition on thousands of contracts across all our business segments , in addition to our business processes and our information technology systems .as a result , our evaluation of the effect of the new standard will extend over future periods .in september 2015 , the fasb issued a new standard that simplifies the accounting for adjustments made to preliminary amounts recognized in a business combination by eliminating the requirement to retrospectively account for those adjustments .instead , adjustments will be recognized in the period in which the adjustments are determined , including the effect on earnings of any amounts that would have been recorded in previous periods if the accounting had been completed at the acquisition date .we adopted the standard on january 1 , 2016 and will prospectively apply the standard to business combination adjustments identified after the date of adoption .in november 2015 , the fasb issued a new standard that simplifies the presentation of deferred income taxes and requires that deferred tax assets and liabilities , as well as any related valuation allowance , be classified as noncurrent in our consolidated balance sheets .the standard is effective january 1 , 2017 , with early adoption permitted .the standard may be applied either prospectively from the date of adoption or retrospectively to all prior periods presented .we are currently evaluating when we will adopt the standard and the method of adoption .note 2 2013 earnings per share the weighted average number of shares outstanding used to compute earnings per common share were as follows ( in millions ) : .
[['', '2015', '2014', '2013'], ['weighted average common shares outstanding for basic computations', '310.3', '316.8', '320.9'], ['weighted average dilutive effect of equity awards', '4.4', '5.6', '5.6'], ['weighted average common shares outstanding for diluted computations', '314.7', '322.4', '326.5']]
we compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented .our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units and exercise of outstanding stock options based on the treasury stock method .the computation of diluted earnings per common share excluded 2.4 million stock options for the year ended december 31 , 2013 because their inclusion would have been anti-dilutive , primarily due to their exercise prices exceeding the average market prices of our common stock during the respective periods .there were no anti-dilutive equity awards for the years ended december 31 , 2015 and 2014. .
|
what was the change in weighted average common shares outstanding for diluted computations from 2014 to 2015 , in millions?
|
-7.7
|
{
"answer": "-7.7",
"decimal": -7.7,
"type": "float"
}
| |
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 percent of the commercial and similar letters of credit in the u.s to outside the u.s in 2009
|
22.4%
|
{
"answer": "22.4%",
"decimal": 0.22399999999999998,
"type": "percentage"
}
|
in 2009 for every $ 22.4 of the commercial and similar letters of credit in the u.s there was $ 100 outside the u.s in 2009
|
assets ( including trade receivables ) that are in the scope of the update .asu 2016-13 also made amendments to the current impairment model for held-to-maturity and available-for-sale debt securities and certain guarantees .the guidance will become effective for us on january 1 , 2020 .early adoption is permitted for periods beginning on or after january 1 , 2019 .we are evaluating the effect of asu 2016-13 on our consolidated financial statements .note 2 2014 acquisitions the transactions described below were accounted for as business combinations , which requires that we record the assets acquired and liabilities assumed at fair value as of the acquisition date .on october 17 , 2018 , we acquired sicom systems , inc .( 201csicom 201d ) for total purchase consideration of $ 409.2 million , which we funded with cash on hand and by drawing on our revolving credit facility ( described in 201cnote 8 2014 long-term debt and lines of credit 201d ) .sicom is a provider of end-to-end enterprise , cloud-based software solutions and other technologies to quick service restaurants and food service management companies .sicom 2019s technologies are complementary to our existing xenial solutions , and we believe this acquisition will expand our software-driven payments strategy by enabling us to increase our capabilities and expand on our existing presence in the restaurant vertical market .prior to the acquisition , sicom was indirectly owned by a private equity investment firm where one of our board members is a partner and investor .his direct interest in the transaction was approximately $ 1.1 million , the amount distributed to him based on his investment interest in the fund of the private equity firm that sold sicom to us .based on consideration of all relevant information , the audit committee of our board of directors recommended that the board approve the acquisition of sicom , which it did .the provisional estimated acquisition-date fair values of major classes of assets acquired and liabilities assumed as of december 31 , 2018 , including a reconciliation to the total purchase consideration , were as follows ( in thousands ) : .
[['cash and cash equivalents', '$ 7540'], ['property and equipment', '5943'], ['identified intangible assets', '188294'], ['other assets', '22278'], ['deferred income taxes', '-48448 ( 48448 )'], ['other liabilities', '-31250 ( 31250 )'], ['total identifiable net assets', '144357'], ['goodwill', '264844'], ['total purchase consideration', '$ 409201']]
as of december 31 , 2018 , we considered these balances to be provisional because we were still in the process of determining the final purchase consideration , which is subject to adjustment pursuant to the purchase agreement , and gathering and reviewing information to support the valuations of the assets acquired and liabilities assumed .goodwill arising from the acquisition of $ 264.8 million , included in the north america segment , was attributable to expected growth opportunities , an assembled workforce and potential synergies from combining our existing businesses .we expect that approximately $ 50 million of the goodwill from this acquisition will be deductible for income tax purposes .74 2013 global payments inc .| 2018 form 10-k annual report .
|
what was the total percentage of costs that came from identifiable assets?
|
$ 144357 thousand
|
{
"answer": "$ 144357 thousand",
"decimal": 144357000,
"type": "money"
}
|
to find out the identifiable assets one must not include goodwill . therefore to figure out the answer , one will take the total amount and subtract goodwill .
|
through the certegy merger , the company has an obligation to service $ 200 million ( aggregate principal amount ) of unsecured 4.75% ( 4.75 % ) fixed-rate notes due in 2008 .the notes were recorded in purchase accounting at a discount of $ 5.7 million , which is being amortized over the term of the notes .the notes accrue interest at a rate of 4.75% ( 4.75 % ) per year , payable semi-annually in arrears on each march 15 and september 15 .on april 11 , 2005 , fis entered into interest rate swap agreements which have effectively fixed the interest rate at approximately 5.4% ( 5.4 % ) through april 2008 on $ 350 million of the term loan facilities ( or its replacement debt ) and at approximately 5.2% ( 5.2 % ) through april 2007 on an additional $ 350 million of the term loan .the company has designated these interest rate swaps as cash flow hedges in accordance with sfas no .133 .the estimated fair value of the cash flow hedges results in an asset to the company of $ 4.9 million and $ 5.2 million , as of december 31 , 2006 and december 31 , 2005 , respectively , which is included in the accompanying consolidated balance sheets in other noncurrent assets and as a component of accumulated other comprehensive earnings , net of deferred taxes .a portion of the amount included in accumulated other comprehensive earnings is reclassified into interest expense as a yield adjustment as interest payments are made on the term loan facilities .the company 2019s existing cash flow hedges are highly effective and there is no current impact on earnings due to hedge ineffectiveness .it is the policy of the company to execute such instruments with credit-worthy banks and not to enter into derivative financial instruments for speculative purposes .principal maturities at december 31 , 2006 ( and at december 31 , 2006 after giving effect to the debt refinancing completed on january 18 , 2007 ) for the next five years and thereafter are as follows ( in thousands ) : december 31 , january 18 , 2007 refinancing .
[['', 'december 31 2006', 'january 18 2007 refinancing'], ['2007', '$ 61661', '$ 96161'], ['2008', '257541', '282041'], ['2009', '68129', '145129'], ['2010', '33586', '215586'], ['2011', '941875', '165455'], ['thereafter', '1646709', '2105129'], ['total', '$ 3009501', '$ 3009501']]
fidelity national information services , inc .and subsidiaries and affiliates consolidated and combined financial statements notes to consolidated and combined financial statements 2014 ( continued ) .
|
what was the change , in thousands , of principal maturities due in 2008 after the the debt refinancing completed on january 18 , 2007?
|
-24500
|
{
"answer": "-24500",
"decimal": -24500,
"type": "float"
}
| |
zimmer biomet holdings , inc .and subsidiaries 2017 form 10-k annual report notes to consolidated financial statements ( continued ) substantially complete .the following table summarizes the liabilities related to these integration plans ( in millions ) : employee termination benefits contract terminations total .
[['', 'employee termination benefits', 'contract terminations', 'total'], ['balance december 31 2016', '$ 38.1', '$ 35.1', '$ 73.2'], ['additions', '12.1', '5.2', '17.3'], ['cash payments', '-36.7 ( 36.7 )', '-10.4 ( 10.4 )', '-47.1 ( 47.1 )'], ['foreign currency exchange rate changes', '1.3', '0.4', '1.7'], ['balance december 31 2017', '$ 14.8', '$ 30.3', '$ 45.1']]
we have also recognized other employee termination benefits related to ldr , other acquisitions and our operational excellence initiatives .dedicated project personnel expenses include the salary , benefits , travel expenses and other costs directly associated with employees who are 100 percent dedicated to our integration of acquired businesses , employees who have been notified of termination , but are continuing to work on transferring their responsibilities and employees working on our quality enhancement and remediation efforts and operational excellence initiatives .relocated facilities expenses are the moving costs , lease expenses and other facility costs incurred during the relocation period in connection with relocating certain facilities .certain litigation matters relate to net expenses recognized during the year for the estimated or actual settlement of certain pending litigation and similar claims , including matters where we recognized income from a settlement on more favorable terms than our previous estimate , or we reduced our estimate of a previously recorded contingent liability .these litigation matters have included royalty disputes , patent litigation matters , product liability litigation matters and commercial litigation matters .contract termination costs relate to terminated agreements in connection with the integration of acquired companies and changes to our distribution model as part of business restructuring and operational excellence initiatives .the terminated contracts primarily relate to sales agents and distribution agreements .information technology integration costs are non- capitalizable costs incurred related to integrating information technology platforms of acquired companies or other significant software implementations as part of our quality and operational excellence initiatives .as part of the biomet merger , we recognized $ 209.0 million of intangible assets for in-process research and development ( 201cipr&d 201d ) projects .during 2017 and 2016 , we recorded impairment losses of $ 18.8 million and $ 30.0 million , respectively , related to these ipr&d intangible assets .the impairments were primarily due to the termination of certain ipr&d projects .we also recognized $ 479.0 million of intangible assets for trademarks that we designated as having an indefinite life .during 2017 , we reclassified one of these trademarks to a finite life asset which resulted in an impairment of $ 8.0 million .loss/impairment on disposal of assets relates to assets that we have sold or intend to sell , or for which the economic useful life of the asset has been significantly reduced due to integration or our quality and operational excellence initiatives .contingent consideration adjustments represent the changes in the fair value of contingent consideration obligations to be paid to the prior owners of acquired businesses .certain r&d agreements relate to agreements with upfront payments to obtain intellectual property to be used in r&d projects that have no alternative future use in other projects .cash and cash equivalents 2013 we consider all highly liquid investments with an original maturity of three months or less to be cash equivalents .the carrying amounts reported in the balance sheet for cash and cash equivalents are valued at cost , which approximates their fair value .accounts receivable 2013 accounts receivable consists of trade and other miscellaneous receivables .we grant credit to customers in the normal course of business and maintain an allowance for doubtful accounts for potential credit losses .we determine the allowance for doubtful accounts by geographic market and take into consideration historical credit experience , creditworthiness of the customer and other pertinent information .we make concerted efforts to collect all accounts receivable , but sometimes we have to write-off the account against the allowance when we determine the account is uncollectible .the allowance for doubtful accounts was $ 60.2 million and $ 51.6 million as of december 31 , 2017 and 2016 , respectively .inventories 2013 inventories are stated at the lower of cost or market , with cost determined on a first-in first-out basis .property , plant and equipment 2013 property , plant and equipment is carried at cost less accumulated depreciation .depreciation is computed using the straight-line method based on estimated useful lives of ten to forty years for buildings and improvements and three to eight years for machinery and equipment .maintenance and repairs are expensed as incurred .we review property , plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable .an impairment loss would be recognized when estimated future undiscounted cash flows relating to the asset are less than its carrying amount .an impairment loss is measured as the amount by which the carrying amount of an asset exceeds its fair value .software costs 2013 we capitalize certain computer software and software development costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and it is probable that the software will be used as intended .capitalized software costs generally include external direct costs of materials and services utilized in developing or obtaining computer software and compensation and related .
|
what was the percentage change in the allowance for doubtful accounts between 2016 and 2017?
|
17%
|
{
"answer": "17%",
"decimal": 0.17,
"type": "percentage"
}
| |
2015 compared to 2014 when compared to 2014 , costs of revenue in 2015 increased $ 41 million .this increase included a constant currency increase in expenses of approximately $ 238 million , or 8.9% ( 8.9 % ) , partially offset by a positive impact of approximately $ 197 million from the effects of foreign currency fluctuations .the constant currency growth was comprised of a $ 71 million increase in commercial solutions , which included the impact from the encore acquisition which closed in july 2014 , a $ 146 million increase in research & development solutions , which included the incremental impact from the businesses that quest contributed to q2 solutions , and a $ 21 million increase in integrated engagement services .the decrease in costs of revenue as a percent of revenues for 2015 was primarily as a result of an improvement in constant currency profit margin in the commercial solutions , research & development solutions and integrated engagement services segments ( as more fully described in the segment discussion later in this section ) .for 2015 , this constant currency profit margin expansion was partially offset by the effect from a higher proportion of consolidated revenues being contributed by our lower margin integrated engagement services segment when compared to 2014 as well as a negative impact from foreign currency fluctuations .selling , general and administrative expenses , exclusive of depreciation and amortization .
[['( dollars in millions )', 'year ended december 31 , 2016', 'year ended december 31 , 2015', 'year ended december 31 , 2014'], ['selling general and administrative expenses', '$ 1011', '$ 815', '$ 781'], ['% ( % ) of revenues', '18.8% ( 18.8 % )', '18.8% ( 18.8 % )', '18.8% ( 18.8 % )']]
2016 compared to 2015 the $ 196 million increase in selling , general and administrative expenses in 2016 included a constant currency increase of $ 215 million , or 26.4% ( 26.4 % ) , partially offset by a positive impact of approximately $ 19 million from the effects of foreign currency fluctuations .the constant currency growth was comprised of a $ 151 million increase in commercial solutions , which includes $ 158 million from the merger with ims health , partially offset by a decline in the legacy service offerings , a $ 32 million increase in research & development solutions , which includes the incremental impact from the businesses that quest contributed to q2 solutions , a $ 3 million increase in integrated engagement services , and a $ 29 million increase in general corporate and unallocated expenses , which includes $ 37 million from the merger with ims health .the constant currency increase in general corporate and unallocated expenses in 2016 was primarily due to higher stock-based compensation expense .2015 compared to 2014 the $ 34 million increase in selling , general and administrative expenses in 2015 included a constant currency increase of $ 74 million , or 9.5% ( 9.5 % ) , partially offset by a positive impact of approximately $ 42 million from the effects of foreign currency fluctuations .the constant currency growth was comprised of a $ 14 million increase in commercial solutions , which included the impact from the encore acquisition which closed in july 2014 , a $ 40 million increase in research & development solutions , which included the incremental impact from the businesses that quest contributed to q2 solutions , a $ 4 million increase in integrated engagement services , and a $ 14 million increase in general corporate and unallocated expenses .the constant currency increase in general corporate and unallocated expenses in 2015 was primarily due to higher stock-based compensation expense and costs associated with the q2 solutions transaction. .
|
what was the gross revenues in 2016 based on the percent of the selling general and administrative expenses
|
5377.65
|
{
"answer": "5377.65",
"decimal": 5377.65,
"type": "float"
}
| |
devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) proved undeveloped reserves the following table presents the changes in devon 2019s total proved undeveloped reserves during 2013 ( in mmboe ) . .
[['', 'u.s .', 'canada', 'total'], ['proved undeveloped reserves as of december 31 2012', '407', '433', '840'], ['extensions and discoveries', '57', '38', '95'], ['revisions due to prices', '1', '-10 ( 10 )', '-9 ( 9 )'], ['revisions other than price', '-91 ( 91 )', '13', '-78 ( 78 )'], ['conversion to proved developed reserves', '-116 ( 116 )', '-31 ( 31 )', '-147 ( 147 )'], ['proved undeveloped reserves as of december 31 2013', '258', '443', '701']]
at december 31 , 2013 , devon had 701 mmboe of proved undeveloped reserves .this represents a 17 percent decrease as compared to 2012 and represents 24 percent of total proved reserves .drilling and development activities increased devon 2019s proved undeveloped reserves 95 mmboe and resulted in the conversion of 147 mmboe , or 18 percent , of the 2012 proved undeveloped reserves to proved developed reserves .costs incurred related to the development and conversion of devon 2019s proved undeveloped reserves were $ 1.9 billion for 2013 .additionally , revisions other than price decreased devon 2019s proved undeveloped reserves 78 mmboe primarily due to evaluations of certain u.s .onshore dry-gas areas , which devon does not expect to develop in the next five years .the largest revisions relate to the dry-gas areas in the cana-woodford shale in western oklahoma , carthage in east texas and the barnett shale in north texas .a significant amount of devon 2019s proved undeveloped reserves at the end of 2013 related to its jackfish operations .at december 31 , 2013 and 2012 , devon 2019s jackfish proved undeveloped reserves were 441 mmboe and 429 mmboe , respectively .development schedules for the jackfish reserves are primarily controlled by the need to keep the processing plants at their 35000 barrel daily facility capacity .processing plant capacity is controlled by factors such as total steam processing capacity , steam-oil ratios and air quality discharge permits .as a result , these reserves are classified as proved undeveloped for more than five years .currently , the development schedule for these reserves extends though the year 2031 .price revisions 2013 2013 reserves increased 94 mmboe primarily due to higher gas prices .of this increase , 43 mmboe related to the barnett shale and 19 mmboe related to the rocky mountain area .2012 2013 reserves decreased 171 mmboe primarily due to lower gas prices .of this decrease , 100 mmboe related to the barnett shale and 25 mmboe related to the rocky mountain area .2011 2013 reserves decreased 21 mmboe due to lower gas prices and higher oil prices .the higher oil prices increased devon 2019s canadian royalty burden , which reduced devon 2019s oil reserves .revisions other than price total revisions other than price for 2013 , 2012 and 2011 primarily related to devon 2019s evaluation of certain dry gas regions , with the largest revisions being made in the cana-woodford shale , barnett shale and carthage .
|
what percentage of total revisions were not related to prices?
|
89.66%
|
{
"answer": "89.66%",
"decimal": 0.8966,
"type": "percentage"
}
| |
changes in our performance retention awards during 2009 were as follows : shares ( thous. ) weighted-average grant-date fair value .
[['', 'shares ( thous. )', 'weighted-averagegrant-date fair value'], ['nonvested at january 1 2009', '873', '$ 50.70'], ['granted', '449', '47.28'], ['vested', '-240 ( 240 )', '43.23'], ['forfeited', '-22 ( 22 )', '53.86'], ['nonvested at december 31 2009', '1060', '$ 50.88']]
at december 31 , 2009 , there was $ 22 million of total unrecognized compensation expense related to nonvested performance retention awards , which is expected to be recognized over a weighted-average period of 1.3 years .a portion of this expense is subject to achievement of the roic levels established for the performance stock unit grants .5 .retirement plans pension and other postretirement benefits pension plans 2013 we provide defined benefit retirement income to eligible non-union employees through qualified and non-qualified ( supplemental ) pension plans .qualified and non-qualified pension benefits are based on years of service and the highest compensation during the latest years of employment , with specific reductions made for early retirements .other postretirement benefits ( opeb ) 2013 we provide defined contribution medical and life insurance benefits for eligible retirees .these benefits are funded as medical claims and life insurance premiums are plan amendment effective january 1 , 2010 , medicare-eligible retirees who are enrolled in the union pacific retiree medical program will receive a contribution to a health reimbursement account , which can be used to pay eligible out-of-pocket medical expenses .the impact of the plan amendment is reflected in the projected benefit obligation ( pbo ) at december 31 , 2009 .funded status we are required by gaap to separately recognize the overfunded or underfunded status of our pension and opeb plans as an asset or liability .the funded status represents the difference between the pbo and the fair value of the plan assets .the pbo is the present value of benefits earned to date by plan participants , including the effect of assumed future salary increases .the pbo of the opeb plan is equal to the accumulated benefit obligation , as the present value of the opeb liabilities is not affected by salary increases .plan assets are measured at fair value .we use a december 31 measurement date for plan assets and obligations for all our retirement plans. .
|
what is the annual compensation expense for the remaining unvested performance retention awards?
|
1692307
|
{
"answer": "1692307",
"decimal": 1692307,
"type": "float"
}
| |
company stock performance the following graph shows a five-year comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s .technology index .the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s .technology index as of the market close on september 30 , 2007 .data points on the graph are annual .note that historic stock price performance is not necessarily indicative of future stock price performance .sep-11sep-10sep-09sep-08sep-07 sep-12 apple inc .s&p 500 s&p computer hardware dow jones us technology comparison of 5 year cumulative total return* among apple inc. , the s&p 500 index , the s&p computer hardware index , and the dow jones us technology index *$ 100 invested on 9/30/07 in stock or index , including reinvestment of dividends .fiscal year ending september 30 .copyright a9 2012 s&p , a division of the mcgraw-hill companies inc .all rights reserved .september 30 , september 30 , september 30 , september 30 , september 30 , september 30 .
[['', 'september 30 2007', 'september 30 2008', 'september 30 2009', 'september 30 2010', 'september 30 2011', 'september 30 2012'], ['apple inc .', '$ 100', '$ 74', '$ 121', '$ 185', '$ 248', '$ 437'], ['s&p 500', '$ 100', '$ 78', '$ 73', '$ 80', '$ 81', '$ 105'], ['s&p computer hardware', '$ 100', '$ 84', '$ 99', '$ 118', '$ 134', '$ 214'], ['dow jones us technology', '$ 100', '$ 76', '$ 85', '$ 95', '$ 98', '$ 127']]
.
|
what was the cumulative total return on the s&p 500 between september 30 2007 and september 30 2012?
|
5
|
{
"answer": "5",
"decimal": 5,
"type": "float"
}
| |
page 59 of 94 notes to consolidated financial statements ball corporation and subsidiaries 13 .debt and interest costs ( continued ) long-term debt obligations outstanding at december 31 , 2007 , have maturities of $ 127.1 million , $ 160 million , $ 388.4 million , $ 625.1 million and $ 550.3 million for the years ending december 31 , 2008 through 2012 , respectively , and $ 456.1 million thereafter .ball provides letters of credit in the ordinary course of business to secure liabilities recorded in connection with industrial development revenue bonds and certain self-insurance arrangements .letters of credit outstanding at december 31 , 2007 and 2006 , were $ 41 million and $ 52.4 million , respectively .the notes payable and senior credit facilities are guaranteed on a full , unconditional and joint and several basis by certain of the company 2019s domestic wholly owned subsidiaries .certain foreign denominated tranches of the senior credit facilities are similarly guaranteed by certain of the company 2019s wholly owned foreign subsidiaries .note 22 contains further details as well as condensed , consolidating financial information for the company , segregating the guarantor subsidiaries and non-guarantor subsidiaries .the company was not in default of any loan agreement at december 31 , 2007 , and has met all debt payment obligations .the u.s .note agreements , bank credit agreement and industrial development revenue bond agreements contain certain restrictions relating to dividend payments , share repurchases , investments , financial ratios , guarantees and the incurrence of additional indebtedness .on march 27 , 2006 , ball expanded its senior secured credit facilities with the addition of a $ 500 million term d loan facility due in installments through october 2011 .also on march 27 , 2006 , ball issued at a price of 99.799 percent $ 450 million of 6.625% ( 6.625 % ) senior notes ( effective yield to maturity of 6.65 percent ) due in march 2018 .the proceeds from these financings were used to refinance existing u.s .can debt with ball corporation debt at lower interest rates , acquire certain north american plastic container net assets from alcan and reduce seasonal working capital debt .( see note 3 for further details of the acquisitions. ) on october 13 , 2005 , ball refinanced its senior secured credit facilities to extend debt maturities at lower interest rate spreads and provide the company with additional borrowing capacity for future growth .during the third and fourth quarters of 2005 , ball redeemed its 7.75% ( 7.75 % ) senior notes due in august 2006 .the refinancing and senior note redemptions resulted in a debt refinancing charge of $ 19.3 million ( $ 12.3 million after tax ) for the related call premium and unamortized debt issuance costs .a summary of total interest cost paid and accrued follows: .
[['( $ in millions )', '2007', '2006', '2005'], ['interest costs before refinancing costs', '$ 155.8', '$ 142.5', '$ 102.4'], ['debt refinancing costs', '2013', '2013', '19.3'], ['total interest costs', '155.8', '142.5', '121.7'], ['amounts capitalized', '-6.4 ( 6.4 )', '-8.1 ( 8.1 )', '-5.3 ( 5.3 )'], ['interest expense', '$ 149.4', '$ 134.4', '$ 116.4'], ['interest paid during the year ( a )', '$ 153.9', '$ 125.4', '$ 138.5']]
( a ) includes $ 6.6 million paid in 2005 in connection with the redemption of the company 2019s senior and senior subordinated notes. .
|
what are the expected annual cash interest costs for the 6.625% ( 6.625 % ) senior notes?
|
28125000
|
{
"answer": "28125000",
"decimal": 28125000,
"type": "float"
}
| |
item 7 .management 2019s discussion and analysis of financial condition and results of operations we are an international energy company with operations in the u.s. , canada , africa , the middle east and europe .our operations are organized into three reportable segments : 2022 e&p which explores for , produces and markets liquid hydrocarbons and natural gas on a worldwide basis .2022 osm which mines , extracts and transports bitumen from oil sands deposits in alberta , canada , and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas oil .2022 ig which produces and markets products manufactured from natural gas , such as lng and methanol , in e.g .certain sections of management 2019s discussion and analysis of financial condition and results of operations include forward- looking statements concerning trends or events potentially affecting our business .these statements typically contain words such as "anticipates" "believes" "estimates" "expects" "targets" "plans" "projects" "could" "may" "should" "would" or similar words indicating that future outcomes are uncertain .in accordance with "safe harbor" provisions of the private securities litigation reform act of 1995 , these statements are accompanied by cautionary language identifying important factors , though not necessarily all such factors , which could cause future outcomes to differ materially from those set forth in forward-looking statements .for additional risk factors affecting our business , see item 1a .risk factors in this annual report on form 10-k .management 2019s discussion and analysis of financial condition and results of operations should be read in conjunction with the information under item 1 .business , item 1a .risk factors and item 8 .financial statements and supplementary data found in this annual report on form 10-k .spin-off downstream business on june 30 , 2011 , the spin-off of marathon 2019s downstream business was completed , creating two independent energy companies : marathon oil and mpc .marathon stockholders at the close of business on the record date of june 27 , 2011 received one share of mpc common stock for every two shares of marathon common stock held .a private letter tax ruling received in june 2011 from the irs affirmed the tax-free nature of the spin-off .activities related to the downstream business have been treated as discontinued operations in 2011 and 2010 ( see item 8 .financial statements and supplementary data 2013 note 3 to the consolidated financial statements for additional information ) .overview 2013 market conditions exploration and production prevailing prices for the various grades of crude oil and natural gas that we produce significantly impact our revenues and cash flows .the following table lists benchmark crude oil and natural gas price annual averages for the past three years. .
[['benchmark', '2012', '2011', '2010'], ['wti crude oil ( dollars per bbl )', '$ 94.15', '$ 95.11', '$ 79.61'], ['brent ( europe ) crude oil ( dollars per bbl )', '$ 111.65', '$ 111.26', '$ 79.51'], ['henry hub natural gas ( dollars per mmbtu ) ( a )', '$ 2.79', '$ 4.04', '$ 4.39']]
henry hub natural gas ( dollars per mmbtu ) ( a ) $ 2.79 $ 4.04 $ 4.39 ( a ) settlement date average .liquid hydrocarbon 2013 prices of crude oil have been volatile in recent years , but less so when comparing annual averages for 2012 and 2011 .in 2011 , crude prices increased over 2010 levels , with increases in brent averages outstripping those in wti .the quality , location and composition of our liquid hydrocarbon production mix will cause our u.s .liquid hydrocarbon realizations to differ from the wti benchmark .in 2012 , 2011 and 2010 , the percentage of our u.s .crude oil and condensate production that was sour averaged 37 percent , 58 percent and 68 percent .sour crude contains more sulfur and tends to be heavier than light sweet crude oil so that refining it is more costly and produces lower value products ; therefore , sour crude is considered of lower quality and typically sells at a discount to wti .the percentage of our u.s .crude and condensate production that is sour has been decreasing as onshore production from the eagle ford and bakken shale plays increases and production from the gulf of mexico declines .in recent years , crude oil sold along the u.s .gulf coast has been priced at a premium to wti because the louisiana light sweet benchmark has been tracking brent , while production from inland areas farther from large refineries has been at a discount to wti .ngls were 10 percent , 7 percent and 6 percent of our u.s .liquid hydrocarbon sales in 2012 , 2011 and 2010 .in 2012 , our sales of ngls increased due to our development of u.s .unconventional liquids-rich plays. .
|
by what percentage did the average price of brent ( europe ) crude oil increase from 2010 to 2012?
|
40.4%
|
{
"answer": "40.4%",
"decimal": 0.40399999999999997,
"type": "percentage"
}
| |
consolidated income statement review our consolidated income statement is presented in item 8 of this report .net income for 2012 was $ 3.0 billion compared with $ 3.1 billion for 2011 .revenue growth of 8 percent and a decline in the provision for credit losses were more than offset by a 16 percent increase in noninterest expense in 2012 compared to 2011 .further detail is included in the net interest income , noninterest income , provision for credit losses and noninterest expense portions of this consolidated income statement review .net interest income table 2 : net interest income and net interest margin year ended december 31 dollars in millions 2012 2011 .
[['year ended december 31dollars in millions', '2012', '2011'], ['net interest income', '$ 9640', '$ 8700'], ['net interest margin', '3.94% ( 3.94 % )', '3.92% ( 3.92 % )']]
changes in net interest income and margin result from the interaction of the volume and composition of interest-earning assets and related yields , interest-bearing liabilities and related rates paid , and noninterest-bearing sources of funding .see the statistical information ( unaudited ) 2013 average consolidated balance sheet and net interest analysis and analysis of year-to-year changes in net interest income in item 8 of this report and the discussion of purchase accounting accretion of purchased impaired loans in the consolidated balance sheet review in this item 7 for additional information .the increase in net interest income in 2012 compared with 2011 was primarily due to the impact of the rbc bank ( usa ) acquisition , organic loan growth and lower funding costs .purchase accounting accretion remained stable at $ 1.1 billion in both periods .the net interest margin was 3.94% ( 3.94 % ) for 2012 and 3.92% ( 3.92 % ) for 2011 .the increase in the comparison was primarily due to a decrease in the weighted-average rate accrued on total interest- bearing liabilities of 29 basis points , largely offset by a 21 basis point decrease on the yield on total interest-earning assets .the decrease in the rate on interest-bearing liabilities was primarily due to the runoff of maturing retail certificates of deposit and the redemption of additional trust preferred and hybrid capital securities during 2012 , in addition to an increase in fhlb borrowings and commercial paper as lower-cost funding sources .the decrease in the yield on interest-earning assets was primarily due to lower rates on new loan volume and lower yields on new securities in the current low rate environment .with respect to the first quarter of 2013 , we expect net interest income to decline by two to three percent compared to fourth quarter 2012 net interest income of $ 2.4 billion , due to a decrease in purchase accounting accretion of up to $ 50 to $ 60 million , including lower expected cash recoveries .for the full year 2013 , we expect net interest income to decrease compared with 2012 , assuming an expected decline in purchase accounting accretion of approximately $ 400 million , while core net interest income is expected to increase in the year-over-year comparison .we believe our net interest margin will come under pressure in 2013 , due to the expected decline in purchase accounting accretion and assuming that the current low rate environment continues .noninterest income noninterest income totaled $ 5.9 billion for 2012 and $ 5.6 billion for 2011 .the overall increase in the comparison was primarily due to an increase in residential mortgage loan sales revenue driven by higher loan origination volume , gains on sales of visa class b common shares and higher corporate service fees , largely offset by higher provision for residential mortgage repurchase obligations .asset management revenue , including blackrock , totaled $ 1.2 billion in 2012 compared with $ 1.1 billion in 2011 .this increase was primarily due to higher earnings from our blackrock investment .discretionary assets under management increased to $ 112 billion at december 31 , 2012 compared with $ 107 billion at december 31 , 2011 driven by stronger average equity markets , positive net flows and strong sales performance .for 2012 , consumer services fees were $ 1.1 billion compared with $ 1.2 billion in 2011 .the decline reflected the regulatory impact of lower interchange fees on debit card transactions partially offset by customer growth .as further discussed in the retail banking portion of the business segments review section of this item 7 , the dodd-frank limits on interchange rates were effective october 1 , 2011 and had a negative impact on revenue of approximately $ 314 million in 2012 and $ 75 million in 2011 .this impact was partially offset by higher volumes of merchant , customer credit card and debit card transactions and the impact of the rbc bank ( usa ) acquisition .corporate services revenue increased by $ .3 billion , or 30 percent , to $ 1.2 billion in 2012 compared with $ .9 billion in 2011 due to higher commercial mortgage servicing revenue and higher merger and acquisition advisory fees in 2012 .the major components of corporate services revenue are treasury management revenue , corporate finance fees , including revenue from capital markets-related products and services , and commercial mortgage servicing revenue , including commercial mortgage banking activities .see the product revenue portion of this consolidated income statement review for further detail .the pnc financial services group , inc .2013 form 10-k 39 .
|
what was the change in millions in net interest income between 2011 and 2012?
|
940
|
{
"answer": "940",
"decimal": 940,
"type": "float"
}
| |
entergy arkansas , inc .and subsidiaries management 2019s financial discussion and analysis plan to spin off the utility 2019s transmission business see the 201cplan to spin off the utility 2019s transmission business 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for a discussion of this matter , including the planned retirement of debt and preferred securities .results of operations net income 2011 compared to 2010 net income decreased $ 7.7 million primarily due to a higher effective income tax rate , lower other income , and higher other operation and maintenance expenses , substantially offset by higher net revenue , lower depreciation and amortization expenses , and lower interest expense .2010 compared to 2009 net income increased $ 105.7 million primarily due to higher net revenue , a lower effective income tax rate , higher other income , and lower depreciation and amortization expenses , partially offset by higher other operation and maintenance expenses .net revenue 2011 compared to 2010 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .following is an analysis of the change in net revenue comparing 2011 to 2010 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2010 net revenue', '$ 1216.7'], ['retail electric price', '31.0'], ['ano decommissioning trust', '26.4'], ['transmission revenue', '13.1'], ['volume/weather', '-15.9 ( 15.9 )'], ['net wholesale revenue', '-11.9 ( 11.9 )'], ['capacity acquisition recovery', '-10.3 ( 10.3 )'], ['other', '3.2'], ['2011 net revenue', '$ 1252.3']]
the retail electric price variance is primarily due to a base rate increase effective july 2010 .see note 2 to the financial statements for more discussion of the rate case settlement .the ano decommissioning trust variance is primarily related to the deferral of investment gains from the ano 1 and 2 decommissioning trust in 2010 in accordance with regulatory treatment .the gains resulted in an increase in 2010 in interest and investment income and a corresponding increase in regulatory charges with no effect on net income. .
|
what was the percent of the change in the net revenue in 2011
|
2.9%
|
{
"answer": "2.9%",
"decimal": 0.028999999999999998,
"type": "percentage"
}
| |
entergy corporation and subsidiaries management 2019s financial discussion and analysis the miso deferral variance is primarily due to the deferral in 2014 of non-fuel miso-related charges , as approved by the lpsc and the mpsc .the deferral of non-fuel miso-related charges is partially offset in other operation and maintenance expenses .see note 2 to the financial statements for further discussion of the recovery of non-fuel miso-related charges .the waterford 3 replacement steam generator provision is due to a regulatory charge of approximately $ 32 million recorded in 2015 related to the uncertainty associated with the resolution of the waterford 3 replacement steam generator project .see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding .entergy wholesale commodities following is an analysis of the change in net revenue comparing 2015 to 2014 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2014 net revenue', '$ 2224'], ['nuclear realized price changes', '-310 ( 310 )'], ['vermont yankee shutdown in december 2014', '-305 ( 305 )'], ['nuclear volume excluding vermont yankee effect', '20'], ['other', '37'], ['2015 net revenue', '$ 1666']]
as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 558 million in 2015 primarily due to : 2022 lower realized wholesale energy prices , primarily due to significantly higher northeast market power prices in 2014 , and lower capacity prices in 2015 ; and 2022 a decrease in net revenue as a result of vermont yankee ceasing power production in december 2014 .the decrease was partially offset by higher volume in the entergy wholesale commodities nuclear fleet , excluding vermont yankee , resulting from fewer refueling outage days in 2015 as compared to 2014 , partially offset by more unplanned outage days in 2015 as compared to 2014. .
|
what percent of the decline in net revenue is attributed to the variance in nuclear realized price?
|
55.6%
|
{
"answer": "55.6%",
"decimal": 0.556,
"type": "percentage"
}
| |
measurement point december 31 booking holdings nasdaq composite index s&p 500 rdg internet composite .
[['measurement pointdecember 31', 'booking holdings inc .', 'nasdaqcomposite index', 's&p 500index', 'rdg internetcomposite'], ['2012', '100.00', '100.00', '100.00', '100.00'], ['2013', '187.37', '141.63', '132.39', '163.02'], ['2014', '183.79', '162.09', '150.51', '158.81'], ['2015', '205.51', '173.33', '152.59', '224.05'], ['2016', '236.31', '187.19', '170.84', '235.33'], ['2017', '280.10', '242.29', '208.14', '338.52']]
sales of unregistered securities between october 1 , 2017 and december 31 , 2017 , we issued 103343 shares of our common stock in connection with the conversion of $ 196.1 million principal amount of our 1.0% ( 1.0 % ) convertible senior notes due 2018 .the conversions were effected in accordance with the indenture , which provides that the principal amount of converted notes be paid in cash and the conversion premium be paid in cash and/or shares of common stock at our election .in each case , we chose to pay the conversion premium in shares of common stock ( fractional shares are paid in cash ) .the issuances of the shares were not registered under the securities act of 1933 , as amended ( the "act" ) pursuant to section 3 ( a ) ( 9 ) of the act. .
|
what was the percentage change in booking holdings inc . for the five years ended 2017?
|
180.10%
|
{
"answer": "180.10%",
"decimal": 1.801,
"type": "percentage"
}
| |
as of december 31 , 2017 , the future minimum payments due under the lease financing obligation were as follows ( in thousands ) : years ending december 31 .
[['2018', '$ 6113'], ['2019', '6293'], ['2020', '6477'], ['2021', '6674'], ['2022', '6871'], ['thereafter', '5264'], ['total payments', '37692'], ['less : interest and land lease expense', '-21730 ( 21730 )'], ['total payments under facility financing obligations', '15962'], ['property reverting to landlord', '23630'], ['present value of obligation', '39592'], ['less : current portion', '-1919 ( 1919 )'], ['lease financing obligations non-current', '$ 37673']]
purchase commitments we outsource most of our manufacturing and supply chain management operations to third-party contract manufacturers , who procure components and assemble products on our behalf based on our forecasts in order to reduce manufacturing lead times and ensure adequate component supply .we issue purchase orders to our contract manufacturers for finished product and a significant portion of these orders consist of firm non-cancellable commitments .in addition , we purchase strategic component inventory from certain suppliers under purchase commitments that in some cases are non-cancellable , including integrated circuits , which are consigned to our contract manufacturers .as of december 31 , 2017 , we had non-cancellable purchase commitments of $ 195.1 million , of which $ 147.9 million was to our contract manufacturers and suppliers .in addition , we have provided deposits to secure our obligations to purchase inventory .we had $ 36.9 million and $ 63.1 million in deposits as of december 31 , 2017 and 2016 , respectively .these deposits are classified in 'prepaid expenses and other current assets' and 'other assets' in our accompanying consolidated balance sheets .guarantees we have entered into agreements with some of our direct customers and channel partners that contain indemnification provisions relating to potential situations where claims could be alleged that our products infringe the intellectual property rights of a third party .we have at our option and expense the ability to repair any infringement , replace product with a non-infringing equivalent-in-function product or refund our customers all or a portion of the value of the product .other guarantees or indemnification agreements include guarantees of product and service performance and standby letters of credit for leased facilities and corporate credit cards .we have not recorded a liability related to these indemnification and guarantee provisions and our guarantee and indemnification arrangements have not had any significant impact on our consolidated financial statements to date .legal proceedings optumsoft , inc .matters on april 4 , 2014 , optumsoft filed a lawsuit against us in the superior court of california , santa clara county titled optumsoft , inc .v .arista networks , inc. , in which it asserts ( i ) ownership of certain components of our eos network operating system pursuant to the terms of a 2004 agreement between the companies ; and ( ii ) breaches of certain confidentiality and use restrictions in that agreement .under the terms of the 2004 agreement , optumsoft provided us with a non-exclusive , irrevocable , royalty-free license to software delivered by optumsoft comprising a software tool used to develop certain components of eos and a runtime library that is incorporated .
|
what percent of lease payments are due currently?
|
16.2%
|
{
"answer": "16.2%",
"decimal": 0.162,
"type": "percentage"
}
| |
management 2019s discussion and analysis institutional client services our institutional client services segment is comprised of : fixed income , currency and commodities client execution .includes client execution activities related to making markets in interest rate products , credit products , mortgages , currencies and commodities .2030 interest rate products .government bonds , money market instruments such as commercial paper , treasury bills , repurchase agreements and other highly liquid securities and instruments , as well as interest rate swaps , options and other derivatives .2030 credit products .investment-grade corporate securities , high-yield securities , credit derivatives , bank and bridge loans , municipal securities , emerging market and distressed debt , and trade claims .2030 mortgages .commercial mortgage-related securities , loans and derivatives , residential mortgage-related securities , loans and derivatives ( including u.s .government agency-issued collateralized mortgage obligations , other prime , subprime and alt-a securities and loans ) , and other asset-backed securities , loans and derivatives .2030 currencies .most currencies , including growth-market currencies .2030 commodities .crude oil and petroleum products , natural gas , base , precious and other metals , electricity , coal , agricultural and other commodity products .equities .includes client execution activities related to making markets in equity products and commissions and fees from executing and clearing institutional client transactions on major stock , options and futures exchanges worldwide , as well as otc transactions .equities also includes our securities services business , which provides financing , securities lending and other prime brokerage services to institutional clients , including hedge funds , mutual funds , pension funds and foundations , and generates revenues primarily in the form of interest rate spreads or fees .the table below presents the operating results of our institutional client services segment. .
[['$ in millions', 'year ended december 2014', 'year ended december 2013', 'year ended december 2012'], ['fixed income currency and commodities client execution', '$ 8461', '$ 8651', '$ 9914'], ['equities client execution1', '2079', '2594', '3171'], ['commissions and fees', '3153', '3103', '3053'], ['securities services', '1504', '1373', '1986'], ['total equities', '6736', '7070', '8210'], ['total net revenues', '15197', '15721', '18124'], ['operating expenses', '10880', '11792', '12490'], ['pre-tax earnings', '$ 4317', '$ 3929', '$ 5634']]
1 .net revenues related to the americas reinsurance business were $ 317 million for 2013 and $ 1.08 billion for 2012 .in april 2013 , we completed the sale of a majority stake in our americas reinsurance business and no longer consolidate this business .42 goldman sachs 2014 annual report .
|
in millions for 2014 , 2013 , and 2012 , what was the minimum amount of commissions and fees?
|
3053
|
{
"answer": "3053",
"decimal": 3053,
"type": "float"
}
| |
eastman notes to the audited consolidated financial statements accumulated other comprehensive income ( loss ) ( dollars in millions ) cumulative translation adjustment unfunded additional minimum pension liability unrecognized loss and prior service cost , net of unrealized gains ( losses ) on cash flow hedges unrealized losses on investments accumulated comprehensive income ( loss ) balance at december 31 , 2004 155 ( 248 ) -- ( 8 ) ( 2 ) ( 103 ) .
[['( dollars in millions )', 'cumulative translation adjustment$', 'unfundedadditionalminimum pension liability$', 'unrecognized loss and prior service cost net of taxes$', 'unrealized gains ( losses ) on cash flow hedges$', 'unrealized losses on investments$', 'accumulated other comprehensive income ( loss ) $'], ['balance at december 31 2004', '155', '-248 ( 248 )', '--', '-8 ( 8 )', '-2 ( 2 )', '-103 ( 103 )'], ['period change', '-94 ( 94 )', '-7 ( 7 )', '--', '3', '1', '-97 ( 97 )'], ['balance at december 31 2005', '61', '-255 ( 255 )', '--', '-5 ( 5 )', '-1 ( 1 )', '-200 ( 200 )'], ['period change', '60', '48', '--', '-1 ( 1 )', '--', '107'], ['pre-sfas no . 158 balance at december 31 2006', '121', '-207 ( 207 )', '--', '-6 ( 6 )', '-1 ( 1 )', '-93 ( 93 )'], ['adjustments to apply sfas no . 158', '--', '207', '-288 ( 288 )', '--', '--', '-81 ( 81 )'], ['balance at december 31 2006', '121', '--', '-288 ( 288 )', '-6 ( 6 )', '-1 ( 1 )', '-174 ( 174 )']]
pre-sfas no .158 balance at december 31 , 2006 121 ( 207 ) -- ( 6 ) ( 1 ) ( 93 ) adjustments to apply sfas no .158 -- 207 ( 288 ) -- -- ( 81 ) balance at december 31 , 2006 121 -- ( 288 ) ( 6 ) ( 1 ) ( 174 ) except for cumulative translation adjustment , amounts of other comprehensive income ( loss ) are presented net of applicable taxes .because cumulative translation adjustment is considered a component of permanently invested , unremitted earnings of subsidiaries outside the united states , no taxes are provided on such amounts .15 .share-based compensation plans and awards 2002 omnibus long-term compensation plan eastman's 2002 omnibus long-term compensation plan provides for grants to employees of nonqualified stock options , incentive stock options , tandem and freestanding stock appreciation rights ( 201csar 2019s 201d ) , performance shares and various other stock and stock-based awards .the 2002 omnibus plan provides that options can be granted through may 2 , 2007 , for the purchase of eastman common stock at an option price not less than 100 percent of the per share fair market value on the date of the stock option's grant .there is a maximum of 7.5 million shares of common stock available for option grants and other awards during the term of the 2002 omnibus plan .director long-term compensation plan eastman's 2002 director long-term compensation plan provides for grants of nonqualified stock options and restricted shares to nonemployee members of the board of directors .shares of restricted stock are granted upon the first day of the directors' initial term of service and nonqualified stock options and shares of restricted stock are granted each year following the annual meeting of stockholders .the 2002 director plan provides that options can be granted through the later of may 1 , 2007 , or the date of the annual meeting of stockholders in 2007 for the purchase of eastman common stock at an option price not less than the stock's fair market value on the date of the grant. .
|
what is the percent change in cumulative translation adjustment between 2004 and 2006?
|
-21.9%
|
{
"answer": "-21.9%",
"decimal": -0.21899999999999997,
"type": "percentage"
}
| |
68 2012 ppg annual report and form 10-k december 31 , 2012 , 2011 and 2010 was $ ( 30 ) million , $ 98 million and $ 65 million , respectively .the cumulative tax benefit related to the adjustment for pension and other postretirement benefits at december 31 , 2012 and 2011 was approximately $ 960 million and $ 990 million , respectively .there was no tax ( cost ) benefit related to the change in the unrealized gain ( loss ) on marketable securities for the year ended december 31 , 2012 .the tax ( cost ) benefit related to the change in the unrealized gain ( loss ) on marketable securities for the years ended december 31 , 2011 and 2010 was $ ( 0.2 ) million and $ 0.6 million , respectively .the tax benefit related to the change in the unrealized gain ( loss ) on derivatives for the years ended december 31 , 2012 , 2011 and 2010 was $ 4 million , $ 19 million and $ 1 million , respectively .18 .employee savings plan ppg 2019s employee savings plan ( 201csavings plan 201d ) covers substantially all u.s .employees .the company makes matching contributions to the savings plan , at management's discretion , based upon participants 2019 savings , subject to certain limitations .for most participants not covered by a collective bargaining agreement , company-matching contributions are established each year at the discretion of the company and are applied to participant savings up to a maximum of 6% ( 6 % ) of eligible participant compensation .for those participants whose employment is covered by a collective bargaining agreement , the level of company-matching contribution , if any , is determined by the relevant collective bargaining agreement .the company-matching contribution was suspended from march 2009 through june 2010 as a cost savings measure in recognition of the adverse impact of the global recession .effective july 1 , 2010 , the company match was reinstated at 50% ( 50 % ) on the first 6% ( 6 % ) of compensation contributed for most employees eligible for the company-matching contribution feature .this included the union represented employees in accordance with their collective bargaining agreements .on january 1 , 2011 , the company match was increased to 75% ( 75 % ) on the first 6% ( 6 % ) of compensation contributed by these eligible employees and this level was maintained throughout 2012 .compensation expense and cash contributions related to the company match of participant contributions to the savings plan for 2012 , 2011 and 2010 totaled $ 28 million , $ 26 million and $ 9 million , respectively .a portion of the savings plan qualifies under the internal revenue code as an employee stock ownership plan .as a result , the dividends on ppg shares held by that portion of the savings plan totaling $ 18 million , $ 20 million and $ 24 million for 2012 , 2011 and 2010 , respectively , were tax deductible to the company for u.s .federal tax purposes .19 .other earnings .
[['( millions )', '2012', '2011', '2010'], ['royalty income', '$ 51', '$ 55', '$ 58'], ['share of net earnings of equity affiliates ( see note 5 )', '11', '37', '45'], ['gain on sale of assets', '4', '12', '8'], ['other', '83', '73', '69'], ['total', '$ 149', '$ 177', '$ 180']]
20 .stock-based compensation the company 2019s stock-based compensation includes stock options , restricted stock units ( 201crsus 201d ) and grants of contingent shares that are earned based on achieving targeted levels of total shareholder return .all current grants of stock options , rsus and contingent shares are made under the ppg industries , inc .amended and restated omnibus incentive plan ( 201cppg amended omnibus plan 201d ) , which was amended and restated effective april 21 , 2011 .shares available for future grants under the ppg amended omnibus plan were 8.5 million as of december 31 , 2012 .total stock-based compensation cost was $ 73 million , $ 36 million and $ 52 million in 2012 , 2011 and 2010 , respectively .stock-based compensation expense increased year over year due to the increase in the expected payout percentage of the 2010 performance-based rsu grants and ppg's total shareholder return performance in 2012 in comparison with the standard & poors ( s&p ) 500 index , which has increased the expense related to outstanding grants of contingent shares .the total income tax benefit recognized in the accompanying consolidated statement of income related to the stock-based compensation was $ 25 million , $ 13 million and $ 18 million in 2012 , 2011 and 2010 , respectively .stock options ppg has outstanding stock option awards that have been granted under two stock option plans : the ppg industries , inc .stock plan ( 201cppg stock plan 201d ) and the ppg amended omnibus plan .under the ppg amended omnibus plan and the ppg stock plan , certain employees of the company have been granted options to purchase shares of common stock at prices equal to the fair market value of the shares on the date the options were granted .the options are generally exercisable beginning from six to 48 months after being granted and have a maximum term of 10 years .upon exercise of a stock option , shares of company stock are issued from treasury stock .the ppg stock plan includes a restored option provision for options originally granted prior to january 1 , 2003 that allows an optionee to exercise options and satisfy the option cost by certifying ownership of mature shares of ppg common stock with a market value equal to the option cost .the fair value of stock options issued to employees is measured on the date of grant and is recognized as expense over the requisite service period .ppg estimates the fair value of stock options using the black-scholes option pricing model .the risk- free interest rate is determined by using the u.s .treasury yield table of contents .
|
what was the percentage change in stock-based compensation between 2011 and 2012?
|
103%
|
{
"answer": "103%",
"decimal": 1.03,
"type": "percentage"
}
| |
for securities that are quoted in active markets , the trustee/ custodian determines fair value by applying securities 2019 prices obtained from its pricing vendors .for commingled funds that are not actively traded , the trustee applies pricing information provided by investment management firms to the unit quanti- ties of such funds .investment management firms employ their own pricing vendors to value the securities underlying each commingled fund .underlying securities that are not actively traded derive their prices from investment managers , which in turn , employ vendors that use pricing models ( e.g. , discounted cash flow , comparables ) .the domestic defined benefit plans have no investment in our stock , except through the s&p 500 commingled trust index fund .the trustee obtains estimated prices from vendors for secu- rities that are not easily quotable and they are categorized accordingly as level 3 .the following table details further information on our plan assets where we have used significant unobservable inputs ( level 3 ) : .
[['( in millions )', 'level 3'], ['balance as of december 31 2016', '$ 11'], ['purchases', '28'], ['distributions', '-1 ( 1 )'], ['gain ( loss )', '1'], ['balance as of december 31 2017', '$ 39']]
pension trusts 2019 asset allocations there are two pension trusts , one in the u.s .and one in the u.k .the u.s .pension trust had assets of $ 1739 a0 million and $ 1632 a0million as of december a031 , 2017 and 2016 respectively , and the target allocations in 2017 include 68% ( 68 % ) fixed income , 27% ( 27 % ) domestic equities and 5% ( 5 % ) international equities .the u.k .pension trust had assets of $ 480 a0 million and $ 441 a0 million as of december a0 31 , 2017 and 2016 , respec- tively , and the target allocations in 2017 include 40% ( 40 % ) fixed income , 30% ( 30 % ) diversified growth funds , 20% ( 20 % ) equities and 10% ( 10 % ) real estate .the pension assets are invested with the goal of producing a combination of capital growth , income and a liability hedge .the mix of assets is established after consideration of the long- term performance and risk characteristics of asset classes .investments are selected based on their potential to enhance returns , preserve capital and reduce overall volatility .holdings are diversified within each asset class .the portfolios employ a mix of index and actively managed equity strategies by market capitalization , style , geographic regions and economic sec- tors .the fixed income strategies include u.s .long duration securities , opportunistic fixed income securities and u.k .debt instruments .the short-term portfolio , whose primary goal is capital preservation for liquidity purposes , is composed of gov- ernment and government- agency securities , uninvested cash , receivables and payables .the portfolios do not employ any financial leverage .u.s .defined contribution plans assets of the defined contribution plans in the u.s .consist pri- marily of investment options which include actively managed equity , indexed equity , actively managed equity/bond funds , target date funds , s&p global inc .common stock , stable value and money market strategies .there is also a self- directed mutual fund investment option .the plans purchased 228248 shares and sold 297750 shares of s&p global inc .common stock in 2017 and purchased 216035 shares and sold 437283 shares of s&p global inc .common stock in 2016 .the plans held approximately 1.5 a0million shares of s&p global inc .com- mon stock as of december a031 , 2017 and 1.6 a0million shares as of december a031 , 2016 , with market values of $ 255 a0million and $ 171 a0million , respectively .the plans received dividends on s&p global inc .common stock of $ 3 a0million and $ 2 a0million during the years ended december a031 , 2017 and december a031 , 2016 respectively .8 .stock-based compensation we issue stock-based incentive awards to our eligible employ- ees and directors under the 2002 employee stock incentive plan and a director deferred stock ownership plan .2002 employee stock incentive plan ( the 201c2002 plan 201d ) 2014 the 2002 plan permits the granting of nonquali- fied stock options , stock appreciation rights , performance stock , restricted stock and other stock-based awards .director deferred stock ownership plan 2014 under this plan , common stock reserved may be credited to deferred stock accounts for eligible directors .in general , the plan requires that 50% ( 50 % ) of eligible directors 2019 annual com- pensation plus dividend equivalents be credited to deferred stock accounts .each director may also elect to defer all or a portion of the remaining compensation and have an equiva- lent number of shares credited to the deferred stock account .recipients under this plan are not required to provide con- sideration to us other than rendering service .shares will be delivered as of the date a recipient ceases to be a member of the board of directors or within five years thereafter , if so elected .the plan will remain in effect until terminated by the board of directors or until no shares of stock remain avail- able under the plan .s&p global 2017 annual report 71 .
|
as part of plan assets what was the percent of the purchases on the total account balance
|
71.8%
|
{
"answer": "71.8%",
"decimal": 0.718,
"type": "percentage"
}
|
as part of plan assets the percent of the purchases on the total account balance was 71.8%
|
part ii item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities market price of and dividends on the registrant 2019s common equity and related stockholder matters market information .our class a common stock is quoted on the nasdaq global select market under the symbol 201cdish . 201d the high and low closing sale prices of our class a common stock during 2014 and 2013 on the nasdaq global select market ( as reported by nasdaq ) are set forth below. .
[['2014', 'high', 'low'], ['first quarter', '$ 62.42', '$ 54.10'], ['second quarter', '65.64', '56.23'], ['third quarter', '66.71', '61.87'], ['fourth quarter', '79.41', '57.96'], ['2013', 'high', 'low'], ['first quarter', '$ 38.02', '$ 34.19'], ['second quarter', '42.52', '36.24'], ['third quarter', '48.09', '41.66'], ['fourth quarter', '57.92', '45.68']]
as of february 13 , 2015 , there were approximately 8208 holders of record of our class a common stock , not including stockholders who beneficially own class a common stock held in nominee or street name .as of february 10 , 2015 , 213247004 of the 238435208 outstanding shares of our class b common stock were beneficially held by charles w .ergen , our chairman , and the remaining 25188204 were held in trusts established by mr .ergen for the benefit of his family .there is currently no trading market for our class b common stock .dividends .on december 28 , 2012 , we paid a cash dividend of $ 1.00 per share , or approximately $ 453 million , on our outstanding class a and class b common stock to stockholders of record at the close of business on december 14 , 2012 .while we currently do not intend to declare additional dividends on our common stock , we may elect to do so from time to time .payment of any future dividends will depend upon our earnings and capital requirements , restrictions in our debt facilities , and other factors the board of directors considers appropriate .we currently intend to retain our earnings , if any , to support future growth and expansion , although we may repurchase shares of our common stock from time to time .see further discussion under 201citem 7 .management 2019s discussion and analysis of financial condition and results of operations 2013 liquidity and capital resources 201d in this annual report on form 10-k .securities authorized for issuance under equity compensation plans .see 201citem 12 .security ownership of certain beneficial owners and management and related stockholder matters 201d in this annual report on form 10-k. .
|
how high did the stock price reach in january to march 2013?
|
38.02
|
{
"answer": "38.02",
"decimal": 38.02,
"type": "float"
}
| |
the fair value of variable rate debt approximates the carrying value since interest rates are variable and , thus , approximate current market rates .free cash flow we define free cash flow , which is not a measure determined in accordance with generally accepted accounting principles in the united states , as 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 .our free cash flow for the years ended december 31 , 2005 , 2004 and 2003 is calculated as follows ( in millions ) : .
[['', '2005', '2004', '2003'], ['cash provided by operating activities', '$ 767.5', '$ 666.3', '$ 600.5'], ['purchases of property and equipment', '-328.7 ( 328.7 )', '-283.8 ( 283.8 )', '-273.2 ( 273.2 )'], ['proceeds from sales of property and equipment', '10.1', '5.7', '9.1'], ['free cash flow', '$ 448.9', '$ 388.2', '$ 336.4']]
free cash flow for the year ended december 31 , 2005 was higher than the previous years presented primarily because of a $ 113.4 million federal tax payment that was deferred until february 2006 as a result of an internal revenue service notice issued in response to hurricane katrina , and the timing of payments for capital and other expenditures .as a result of the timing of these payments , we expect free cash flow during 2006 to be lower than 2005 .we believe that the presentation of free cash flow provides useful information regarding our recurring cash provided by operating activities after expenditures for property and equipment , net of proceeds from sales of property and equipment .it also demonstrates our ability to execute our financial strategy which includes reinvesting in existing capital assets to ensure a high level of customer service , investing in capital assets to facilitate growth in our customer base and services provided , pursuing strategic acquisitions that augment our existing business platform , repurchasing shares of common stock at prices that provide value to our shareholders , paying cash dividends , maintaining our investment grade rating and minimizing debt .in addition , free cash flow is a key metric used to determine compensation .the presentation of free cash flow has material limitations .free cash flow does not represent our cash flow available for discretionary expenditures because it excludes certain expenditures that are required or that we have committed to such as debt service requirements and dividend payments .our definition of free cash flow may not be comparable to similarly titled measures presented by other companies .seasonality our operations can be adversely affected by periods of inclement weather which could increase the volume of waste collected under our existing contracts ( without corresponding compensation ) , delay the collection and disposal of waste , reduce the volume of waste delivered to our disposal sites , or delay the construction or expansion of our landfill sites and other facilities .new accounting pronouncements on december 16 , 2004 , the financial accounting standards board issued statement of financial accounting standards no .123 ( revised 2004 ) , 201cshare-based payment , 201d which is a revision of sfas 123 , 201caccounting for stock-based compensation . 201d sfas 123 ( r ) supersedes apb opinion no .25 , 201caccounting for stock issued to employees , 201d and amends sfas 95 , 201cstatement of cash flows . 201d generally , the approach in sfas 123 ( r ) is similar to the approach described in sfas 123 .however , sfas 123 ( r ) requires all share-based payments to employees , including grants of employee stock options , to be recognized in the income statement based on their fair values .pro forma disclosure is no longer an alternative .we are required to adopt sfas 123 ( r ) on january 1 , 2006 and expect to use the 201cmodified-prospective 201d method in which compensation cost will be recognized beginning with the effective date based on the requirements of sfas 123 ( r ) for all share-based payments granted after the effective date. .
|
what was the percent of the increase in proceeds from sales of property and equipment from 2004 to 2005
|
77.2%
|
{
"answer": "77.2%",
"decimal": 0.772,
"type": "percentage"
}
|
the proceeds from sales of property and equipment from 2004 to 2005 increased by 77.2%
|
2022 increased proved liquid hydrocarbon , including synthetic crude oil , reserves to 78 percent from 75 percent of proved reserves 2022 increased e&p net sales volumes , excluding libya , by 7 percent 2022 recorded 96 percent average operational availability for all major company-operated e&p assets , compared to 94 percent in 2010 2022 completed debottlenecking work that increased crude oil production capacity at the alvheim fpso in norway to 150000 gross bbld from the previous capacity of 142000 gross bbld and the original 2008 capacity of 120000 gross bbld 2022 announced two non-operated discoveries in the iraqi kurdistan region and began drilling in poland 2022 completed aosp expansion 1 , including the start-up of the expanded scotford upgrader , realizing an increase in net synthetic crude oil sales volumes of 48 percent 2022 completed dispositions of non-core assets and interests in acreage positions for net proceeds of $ 518 million 2022 repurchased 12 million shares of our common stock at a cost of $ 300 million 2022 retired $ 2498 million principal of our long-term debt 2022 resumed limited production in libya in the fourth quarter of 2011 following the february 2011 temporary suspension of operations consolidated results of operations : 2011 compared to 2010 due to the spin-off of our downstream business on june 30 , 2011 , which is reported as discontinued operations , income from continuing operations is more representative of marathon oil as an independent energy company .consolidated income from continuing operations before income taxes was 9 percent higher in 2011 than in 2010 , largely due to higher liquid hydrocarbon prices .this improvement was offset by increased income taxes primarily the result of excess foreign tax credits generated during 2011 that we do not expect to utilize in the future .the effective income tax rate for continuing operations was 61 percent in 2011 compared to 54 percent in 2010 .revenues are summarized in the following table : ( in millions ) 2011 2010 .
[['( in millions )', '2011', '2010'], ['e&p', '$ 13029', '$ 10782'], ['osm', '1588', '833'], ['ig', '93', '150'], ['segment revenues', '14710', '11765'], ['elimination of intersegment revenues', '-47 ( 47 )', '-75 ( 75 )'], ['total revenues', '$ 14663', '$ 11690']]
e&p segment revenues increased $ 2247 million from 2010 to 2011 , primarily due to higher average liquid hydrocarbon realizations , which were $ 99.37 per bbl in 2011 , a 31 percent increase over 2010 .revenues in 2010 included net pre-tax gains of $ 95 million on derivative instruments intended to mitigate price risk on future sales of liquid hydrocarbons and natural gas .included in our e&p segment are supply optimization activities which include the purchase of commodities from third parties for resale .supply optimization serves to aggregate volumes in order to satisfy transportation commitments and to achieve flexibility within product types and delivery points .see the cost of revenues discussion as revenues from supply optimization approximate the related costs .higher average crude oil prices in 2011 compared to 2010 increased revenues related to supply optimization .revenues from the sale of our u.s .production are higher in 2011 primarily as a result of higher liquid hydrocarbon and natural gas price realizations , but sales volumes declined. .
|
for the completed debottlenecking work that increased crude oil production capacity at the alvheim fpso in norway , what was the increase in gross bbld from the previous capacity?
|
8000
|
{
"answer": "8000",
"decimal": 8000,
"type": "float"
}
| |
zimmer biomet holdings , inc .2018 form 10-k annual report ( 8 ) we have incurred other various expenses from specific events or projects that we consider highly variable or have a significant impact to our operating results that we have excluded from our non-gaap financial measures .this includes legal entity and operational restructuring as well as our costs of complying with our dpa with the u.s .government related to certain fcpa matters involving biomet and certain of its subsidiaries .under the dpa , which has a three-year term , we are subject to oversight by an independent compliance monitor , which monitorship commenced in july 2017 .the excluded costs include the fees paid to the independent compliance monitor and to external legal counsel assisting in the matter .( 9 ) represents the tax effects on the previously specified items .the tax effect for the u.s .jurisdiction is calculated based on an effective rate considering federal and state taxes , as well as permanent items .for jurisdictions outside the u.s. , the tax effect is calculated based upon the statutory rates where the items were incurred .( 10 ) the 2016 period includes negative effects from finalizing the tax accounts for the biomet merger .under the applicable u.s .gaap rules , these measurement period adjustments are recognized on a prospective basis in the period of change .( 11 ) the 2017 tax act resulted in a net favorable provisional adjustment due to the reduction of deferred tax liabilities for unremitted earnings and revaluation of deferred tax liabilities to a 21 percent rate , which was partially offset by provisional tax charges related to the toll charge provision of the 2017 tax act .in 2018 , we finalized our estimates of the effects of the 2017 tax act based upon final guidance issued by u.s .tax authorities .( 12 ) other certain tax adjustments in 2018 primarily related to changes in tax rates on deferred tax liabilities recorded on intangible assets recognized in acquisition-related accounting and adjustments from internal restructuring transactions that provide us access to offshore funds in a tax efficient manner .in 2017 , other certain tax adjustments relate to tax benefits from lower tax rates unrelated to the impact of the 2017 tax act , net favorable resolutions of various tax matters and net favorable adjustments from internal restructuring transactions .the 2016 adjustment primarily related to a favorable adjustment to certain deferred tax liabilities recognized as part of acquisition-related accounting and favorable resolution of certain tax matters with taxing authorities offset by internal restructuring transactions that provide us access to offshore funds in a tax efficient manner .( 13 ) diluted share count used in adjusted diluted eps : year ended december 31 , 2018 .
[['', 'year endeddecember 31 2018'], ['diluted shares', '203.5'], ['dilutive shares assuming net earnings', '1.5'], ['adjusted diluted shares', '205.0']]
liquidity and capital resources cash flows provided by operating activities were $ 1747.4 million in 2018 compared to $ 1582.3 million and $ 1632.2 million in 2017 and 2016 , respectively .the increase in operating cash flows in 2018 compared to 2017 was driven by additional cash flows from our sale of accounts receivable in certain countries , lower acquisition and integration expenses and lower quality remediation expenses , as well as certain significant payments made in the 2017 period .in the 2017 period , we made payments related to the u.s .durom cup settlement program , and we paid $ 30.5 million in settlement payments to resolve previously-disclosed fcpa matters involving biomet and certain of its subsidiaries as discussed in note 19 to our consolidated financial statements included in item 8 of this report .the decline in operating cash flows in 2017 compared to 2016 was driven by additional investments in inventory , additional expenses for quality remediation and the significant payments made in the 2017 period as discussed in the previous sentence .these unfavorable items were partially offset by $ 174.0 million of incremental cash flows in 2017 from our sale of accounts receivable in certain countries .cash flows used in investing activities were $ 416.6 million in 2018 compared to $ 510.8 million and $ 1691.5 million in 2017 and 2016 , respectively .instrument and property , plant and equipment additions reflected ongoing investments in our product portfolio and optimization of our manufacturing and logistics network .in 2018 , we entered into receive-fixed-rate , pay-fixed-rate cross-currency interest rate swaps .our investing cash flows reflect the net cash inflows from the fixed- rate interest rate receipts/payments , as well as the termination of certain of these swaps that were in a gain position in the year .the 2016 period included cash outflows for the acquisition of ldr holding corporation ( 201cldr 201d ) and other business acquisitions .additionally , the 2016 period reflects the maturity of available-for-sale debt securities .as these investments matured , we used the cash to pay off debt and have not reinvested in any additional debt securities .cash flows used in financing activities were $ 1302.2 million in 2018 .our primary use of available cash in 2018 was for debt repayment .we received net proceeds of $ 749.5 million from the issuance of additional senior notes and borrowed $ 400.0 million from our multicurrency revolving facility to repay $ 1150.0 million of senior notes that became due on april 2 , 2018 .we subsequently repaid the $ 400.0 million of multicurrency revolving facility borrowings .also in 2018 , we borrowed another $ 675.0 million under a new u.s .term loan c and used the cash proceeds along with cash generated from operations throughout the year to repay an aggregate of $ 835.0 million on u.s .term loan a , $ 450.0 million on u.s .term loan b , and we subsequently repaid $ 140.0 million on u.s .term loan c .overall , we had approximately $ 1150 million of net principal repayments on our senior notes and term loans in 2018 .in 2017 , our primary use of available cash was also for debt repayment compared to 2016 when we were not able to repay as much debt due to financing requirements to complete the ldr and other business acquisitions .additionally in 2017 , we had net cash inflows of $ 103.5 million on factoring programs that had not been remitted to the third party .in 2018 , we had net cash outflows related to these factoring programs as we remitted the $ 103.5 million and collected only $ 66.8 million which had not yet been remitted by the end of the year .since our factoring programs started at the end of 2016 , we did not have similar cash flows in that year .in january 2019 , we borrowed an additional $ 200.0 million under u.s .term loan c and used those proceeds , along with cash on hand , to repay the remaining $ 225.0 million outstanding under u.s .term loan b .in february , may , august and december 2018 , our board of directors declared cash dividends of $ 0.24 per share .we expect to continue paying cash dividends on a quarterly basis ; however , future dividends are subject to approval of the board of directors and may be adjusted as business needs or market conditions change .as further discussed in note 11 to our consolidated financial statements , our debt facilities restrict the payment of dividends in certain circumstances. .
|
what is the percent change in cash flows provided by operating activities between 2017 and 2016?
|
-3%
|
{
"answer": "-3%",
"decimal": -0.03,
"type": "percentage"
}
| |
recognized total losses and expenses of $ 28.6 million , including a net loss on write-down to fair value of the assets and certain other transaction fees of $ 27.1 million within other expenses and $ 1.5 million of legal and other fees .2022 professional fees and outside services expense decreased in 2017 compared to 2016 , largely due to higher legal and regulatory fees in 2016 related to our business activities and product offerings as well as higher professional fees related to a greater reliance on consultants for security and systems enhancement work .the overall decrease in operating expenses in 2017 when compared with 2016 was partially offset by the following increases : 2022 licensing and other fee sharing agreements expense increased due to higher expense resulting from incentive payments made to facilitate the transition of the russell contract open interest , as well as increased costs of revenue sharing agreements for certain licensed products .the overall increase in 2017 was partially offset by lower expense related to revenue sharing agreements for certain equity and energy contracts due to lower volume for these products compared to 2016 .2022 compensation and benefits expense increased as a result of higher average headcount primarily in our international locations as well as normal cost of living adjustments .2016 compared with 2015 operating expenses increased by $ 54.4 million in 2016 when compared with 2015 .the following table shows the estimated impact of key factors resulting in the net decrease in operating expenses .( dollars in millions ) over-year change change as a percentage of 2015 expenses .
[['( dollars in millions )', 'year-over-yearchange', 'change as apercentage of2015 expenses'], ['loss on datacenter and related legal fees', '$ 28.6', '2% ( 2 % )'], ['professional fees and outside services', '24.4', '2'], ['foreign currency exchange rate fluctuation', '13.2', '1'], ['licensing and other fee agreements', '12.0', '1'], ['reorganization severance and retirement costs', '-8.1 ( 8.1 )', '-1 ( 1 )'], ['real estate taxes and fees', '-10.0 ( 10.0 )', '-1 ( 1 )'], ['other expenses net', '-5.7 ( 5.7 )', '2014'], ['total', '$ 54.4', '4% ( 4 % )']]
overall operating expenses increased in 2016 when compared with 2015 due to the following reasons : 2022 in 2016 , we recognized total losses and expenses of $ 28.6 million , including a net loss on write-down to fair value of the assets and certain other transaction fees of $ 27.1 million within other expenses and $ 1.5 million of legal and other fees as a result of our sale and leaseback of our datacenter .2022 professional fees and outside services expense increased in 2016 largely due to an increase in legal and regulatory efforts related to our business activities and product offerings as well as an increase in professional fees related to a greater reliance on consultants for security and systems enhancement work .2022 in 2016 , we recognized a net loss of $ 24.5 million due to an unfavorable change in exchange rates on foreign cash balances , compared with a net loss of $ 11.3 million in 2015 .2022 licensing and other fee sharing agreements expense increased due to higher expense related to revenue sharing agreements for certain equity and energy contracts due to both higher volume and an increase in license rates for certain equity and energy products. .
|
what was the ratio of the net loss in 2016 to 2015
|
2.17
|
{
"answer": "2.17",
"decimal": 2.17,
"type": "float"
}
| |
certain reclassifications and format changes have been made to prior years 2019 amounts to conform to the 2015 presentation .b .investments .fixed maturity and equity security investments available for sale , at market value , reflect unrealized appreciation and depreciation , as a result of temporary changes in market value during the period , in shareholders 2019 equity , net of income taxes in 201caccumulated other comprehensive income ( loss ) 201d in the consolidated balance sheets .fixed maturity and equity securities carried at fair value reflect fair value re- measurements as net realized capital gains and losses in the consolidated statements of operations and comprehensive income ( loss ) .the company records changes in fair value for its fixed maturities available for sale , at market value through shareholders 2019 equity , net of taxes in accumulated other comprehensive income ( loss ) since cash flows from these investments will be primarily used to settle its reserve for losses and loss adjustment expense liabilities .the company anticipates holding these investments for an extended period as the cash flow from interest and maturities will fund the projected payout of these liabilities .fixed maturities carried at fair value represent a portfolio of convertible bond securities , which have characteristics similar to equity securities and at times , designated foreign denominated fixed maturity securities , which will be used to settle loss and loss adjustment reserves in the same currency .the company carries all of its equity securities at fair value except for mutual fund investments whose underlying investments are comprised of fixed maturity securities .for equity securities , available for sale , at fair value , the company reflects changes in value as net realized capital gains and losses since these securities may be sold in the near term depending on financial market conditions .interest income on all fixed maturities and dividend income on all equity securities are included as part of net investment income in the consolidated statements of operations and comprehensive income ( loss ) .unrealized losses on fixed maturities , which are deemed other-than-temporary and related to the credit quality of a security , are charged to net income ( loss ) as net realized capital losses .short-term investments are stated at cost , which approximates market value .realized gains or losses on sales of investments are determined on the basis of identified cost .for non- publicly traded securities , market prices are determined through the use of pricing models that evaluate securities relative to the u.s .treasury yield curve , taking into account the issue type , credit quality , and cash flow characteristics of each security .for publicly traded securities , market value is based on quoted market prices or valuation models that use observable market inputs .when a sector of the financial markets is inactive or illiquid , the company may use its own assumptions about future cash flows and risk-adjusted discount rates to determine fair value .retrospective adjustments are employed to recalculate the values of asset-backed securities .each acquisition lot is reviewed to recalculate the effective yield .the recalculated effective yield is used to derive a book value as if the new yield were applied at the time of acquisition .outstanding principal factors from the time of acquisition to the adjustment date are used to calculate the prepayment history for all applicable securities .conditional prepayment rates , computed with life to date factor histories and weighted average maturities , are used to effect the calculation of projected and prepayments for pass-through security types .other invested assets include limited partnerships and rabbi trusts .limited partnerships are accounted for under the equity method of accounting , which can be recorded on a monthly or quarterly lag .c .uncollectible receivable balances .the company provides reserves for uncollectible reinsurance recoverable and premium receivable balances based on management 2019s assessment of the collectability of the outstanding balances .such reserves are presented in the table below for the periods indicated. .
[['( dollars in thousands )', 'years ended december 31 , 2015', 'years ended december 31 , 2014'], ['reinsurance receivables and premium receivables', '$ 22878', '$ 29497']]
.
|
what is the ratio of the reinsurance receivables and premium receivables for 2015 to 2014
|
0.78
|
{
"answer": "0.78",
"decimal": 0.78,
"type": "float"
}
| |
december 2016 acquisition of camber and higher volumes in fleet support and oil and gas services , partially offset by lower nuclear and environmental volumes due to the resolution in 2016 of outstanding contract changes on a nuclear and environmental commercial contract .segment operating income 2018 - operating income in the technical solutions segment for the year ended december 31 , 2018 , was $ 32 million , compared to operating income of $ 21 million in 2017 .the increase was primarily due to an allowance for accounts receivable in 2017 on a nuclear and environmental commercial contract and higher income from operating investments at our nuclear and environmental joint ventures , partially offset by one time employee bonus payments in 2018 related to the tax act and lower performance in fleet support services .2017 - operating income in the technical solutions segment for the year ended december 31 , 2017 , was $ 21 million , compared to operating income of $ 8 million in 2016 .the increase was primarily due to improved performance in oil and gas services and higher volume in mdis services following the december 2016 acquisition of camber , partially offset by the establishment of an allowance for accounts receivable on a nuclear and environmental commercial contract in 2017 and the resolution in 2016 of outstanding contract changes on a nuclear and environmental commercial contract .backlog total backlog as of december 31 , 2018 , was approximately $ 23 billion .total backlog includes both funded backlog ( firm orders for which funding is contractually obligated by the customer ) and unfunded backlog ( firm orders for which funding is not currently contractually obligated by the customer ) .backlog excludes unexercised contract options and unfunded idiq orders .for contracts having no stated contract values , backlog includes only the amounts committed by the customer .the following table presents funded and unfunded backlog by segment as of december 31 , 2018 and 2017: .
[['( $ in millions )', 'december 31 2018 funded', 'december 31 2018 unfunded', 'december 31 2018 total backlog', 'december 31 2018 funded', 'december 31 2018 unfunded', 'total backlog'], ['ingalls', '$ 9943', '$ 1422', '$ 11365', '$ 5920', '$ 2071', '$ 7991'], ['newport news', '6767', '4144', '10911', '6976', '5608', '12584'], ['technical solutions', '339', '380', '719', '478', '314', '792'], ['total backlog', '$ 17049', '$ 5946', '$ 22995', '$ 13374', '$ 7993', '$ 21367']]
we expect approximately 30% ( 30 % ) of the $ 23 billion total backlog as of december 31 , 2018 , to be converted into sales in 2019 .u.s .government orders comprised substantially all of the backlog as of december 31 , 2018 and 2017 .awards 2018 - the value of new contract awards during the year ended december 31 , 2018 , was approximately $ 9.8 billion .significant new awards during the period included contracts for the construction of three arleigh burke class ( ddg 51 ) destroyers , for the detail design and construction of richard m .mccool jr .( lpd 29 ) , for procurement of long-lead-time material for enterprise ( cvn 80 ) , and for the construction of nsc 10 ( unnamed ) and nsc 11 ( unnamed ) .in addition , we received awards in 2019 valued at $ 15.2 billion for detail design and construction of the gerald r .ford class ( cvn 78 ) aircraft carriers enterprise ( cvn 80 ) and cvn 81 ( unnamed ) .2017 - the value of new contract awards during the year ended december 31 , 2017 , was approximately $ 8.1 billion .significant new awards during this period included the detailed design and construction contract for bougainville ( lha 8 ) and the execution contract for the rcoh of uss george washington ( cvn 73 ) . .
|
what was the percentage increase in the operating income from 2016 to 2017
|
162.5%
|
{
"answer": "162.5%",
"decimal": 1.625,
"type": "percentage"
}
|
the percent of the growth is the increase divided by the original amount
|
state street corporation | 52 shareholder return performance presentation the graph presented below compares the cumulative total shareholder return on state street's common stock to the cumulative total return of the s&p 500 index , the s&p financial index and the kbw bank index over a five-year period .the cumulative total shareholder return assumes the investment of $ 100 in state street common stock and in each index on december 31 , 2012 .it also assumes reinvestment of common stock dividends .the s&p financial index is a publicly available , capitalization-weighted index , comprised of 67 of the standard & poor 2019s 500 companies , representing 27 diversified financial services companies , 23 insurance companies , and 17 banking companies .the kbw bank index is a modified cap-weighted index consisting of 24 exchange-listed stocks , representing national money center banks and leading regional institutions. .
[['', '2012', '2013', '2014', '2015', '2016', '2017'], ['state street corporation', '$ 100', '$ 159', '$ 172', '$ 148', '$ 178', '$ 227'], ['s&p 500 index', '100', '132', '151', '153', '171', '208'], ['s&p financial index', '100', '136', '156', '154', '189', '230'], ['kbw bank index', '100', '138', '151', '151', '195', '231']]
.
|
what percent returns did shareholders of state street corporation
|
127%
|
{
"answer": "127%",
"decimal": 1.27,
"type": "percentage"
}
| |
management 2019s discussion and analysis sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure .other sensitivity measures we use to analyze market risk are described below .10% ( 10 % ) sensitivity measures .the table below presents market risk for inventory positions that are not included in var .the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% ( 10 % ) decline in the underlying asset value .equity positions below relate to private and restricted public equity securities , including interests in funds that invest in corporate equities and real estate and interests in hedge funds , which are included in 201cfinancial instruments owned , at fair value . 201d debt positions include interests in funds that invest in corporate mezzanine and senior debt instruments , loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans .these debt positions are included in 201cfinancial instruments owned , at fair value . 201d see note 6 to the consolidated financial statements for further information about cash instruments .these measures do not reflect diversification benefits across asset categories or across other market risk measures .asset categories 10% ( 10 % ) sensitivity amount as of december in millions 2013 2012 equity 1 $ 2256 $ 2471 .
[['asset categories', 'asset categories', ''], ['in millions', '2013', '2012'], ['equity1', '$ 2256', '$ 2471'], ['debt', '1522', '1676'], ['total', '$ 3778', '$ 4147']]
1 .december 2012 includes $ 208 million related to our investment in the ordinary shares of icbc , which was sold in the first half of 2013 .credit spread sensitivity on derivatives and borrowings .var excludes the impact of changes in counterparty and our own credit spreads on derivatives as well as changes in our own credit spreads on unsecured borrowings for which the fair value option was elected .the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives was a gain of $ 4 million and $ 3 million ( including hedges ) as of december 2013 and december 2012 , respectively .in addition , the estimated sensitivity to a one basis point increase in our own credit spreads on unsecured borrowings for which the fair value option was elected was a gain of $ 8 million and $ 7 million ( including hedges ) as of december 2013 and december 2012 , respectively .however , the actual net impact of a change in our own credit spreads is also affected by the liquidity , duration and convexity ( as the sensitivity is not linear to changes in yields ) of those unsecured borrowings for which the fair value option was elected , as well as the relative performance of any hedges undertaken .interest rate sensitivity .as of december 2013 and december 2012 , the firm had $ 14.90 billion and $ 6.50 billion , respectively , of loans held for investment which were accounted for at amortized cost and included in 201creceivables from customers and counterparties , 201d substantially all of which had floating interest rates .as of december 2013 and december 2012 , the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 136 million and $ 62 million , respectively , of additional interest income over a 12-month period , which does not take into account the potential impact of an increase in costs to fund such loans .see note 8 to the consolidated financial statements for further information about loans held for investment .goldman sachs 2013 annual report 95 .
|
what percentage of total 10% ( 10 % ) sensitivity amount as of december 2012 is equity related?
|
60%
|
{
"answer": "60%",
"decimal": 0.6,
"type": "percentage"
}
| |
westrock company notes to consolidated financial statements fffd ( continued ) the following table summarizes the weighted average life and the allocation to intangible assets recognized in the mps acquisition , excluding goodwill ( in millions ) : weighted avg .amounts recognized as the acquisition .
[['', 'weighted avg.life', 'amountsrecognized as ofthe acquisitiondate'], ['customer relationships', '14.6', '$ 1008.7'], ['trademarks and tradenames', '3.0', '15.2'], ['photo library', '10.0', '2.5'], ['total', '14.4', '$ 1026.4']]
none of the intangibles has significant residual value .we are amortizing the customer relationship intangibles over estimated useful lives ranging from 13 to 16 years based on a straight-line basis because the amortization pattern was not reliably determinable .star pizza acquisition on march 13 , 2017 , we completed the star pizza acquisition .the transaction provided us with a leadership position in the fast growing small-run pizza box market and increases our vertical integration .the purchase price was $ 34.6 million , net of a $ 0.7 million working capital settlement .we have fully integrated the approximately 22000 tons of containerboard used by star pizza annually .we have included the financial results of the acquired assets since the date of the acquisition in our corrugated packaging segment .the purchase price allocation for the acquisition primarily included $ 24.8 million of customer relationship intangible assets and $ 2.2 million of goodwill .we are amortizing the customer relationship intangibles over 10 years based on a straight-line basis because the amortization pattern was not reliably determinable .the fair value assigned to goodwill is primarily attributable to buyer-specific synergies expected to arise after the acquisition ( e.g. , enhanced reach of the combined organization and other synergies ) , and the assembled work force .the goodwill and intangibles are amortizable for income tax purposes .packaging acquisition on january 19 , 2016 , we completed the packaging acquisition .the entities acquired provide value-added folding carton and litho-laminated display packaging solutions .the purchase price was $ 94.1 million , net of cash received of $ 1.7 million , a working capital settlement and a $ 3.5 million escrow receipt in the first quarter of fiscal 2017 .the transaction is subject to an election under section 338 ( h ) ( 10 ) of the code that increases the u.s .tax basis in the acquired u.s .entities .we believe the transaction has provided us with attractive and complementary customers , markets and facilities .we have included the financial results of the acquired entities since the date of the acquisition in our consumer packaging segment .the purchase price allocation for the acquisition primarily included $ 55.0 million of property , plant and equipment , $ 10.5 million of customer relationship intangible assets , $ 9.3 million of goodwill and $ 25.8 million of liabilities , including $ 1.3 million of debt .we are amortizing the customer relationship intangibles over estimated useful lives ranging from 9 to 15 years based on a straight-line basis because the amortization pattern was not reliably determinable .the fair value assigned to goodwill is primarily attributable to buyer-specific synergies expected to arise after the acquisition ( e.g. , enhanced reach of the combined organization and other synergies ) , and the assembled work force .the goodwill and intangibles of the u.s .entities are amortizable for income tax purposes .sp fiber on october 1 , 2015 , we completed the sp fiber acquisition in a stock purchase .the transaction included the acquisition of mills located in dublin , ga and newberg , or , which produce lightweight recycled containerboard and kraft and bag paper .the newberg mill also produced newsprint .as part of the transaction , we also acquired sp fiber's 48% ( 48 % ) interest in gps .gps is a joint venture providing steam to the dublin mill and electricity to georgia power .the purchase price was $ 278.8 million , net of cash received of $ 9.2 million and a working capital .
|
what percent of the recognized value of the period's acquisition is from the value of trademarks and tradenames?
|
1.48%
|
{
"answer": "1.48%",
"decimal": 0.0148,
"type": "percentage"
}
| |
2022 selling costs increased $ 5.4 million to $ 17.1 million in 2005 from $ 11.7 million in 2004 .this increase was due to increased headcount in our sales force and startup costs associated with our international growth initiatives .as a percentage of net revenues , selling costs increased to 6.1% ( 6.1 % ) in 2005 from 5.7% ( 5.7 % ) in 2004 due to the increased costs described above .2022 payroll and related costs ( excluding those specifically related to marketing and selling ) increased $ 8.6 million to $ 26.9 million in 2005 , from $ 18.3 million in 2004 .the increase during 2005 was due to the following initiatives : we began to build our team to design and source our footwear line , which we expect to offer for the fall 2006 season , we added personnel to our information technology team to support our company-wide initiative to upgrade our information systems , we incurred equity compensation costs , we added personnel to operate our 3 new retail outlet stores , and we invested in the personnel needed to enhance our compliance function and operate as a public company .as a percentage of net revenues , payroll and related costs ( excluding those specifically related to marketing and selling ) increased to 9.6% ( 9.6 % ) in 2005 from 8.9% ( 8.9 % ) in 2004 due to the items described above .2022 other corporate costs increased $ 7.2 million to $ 25.5 million in 2005 , from $ 18.3 million in 2004 .this increase was attributable to higher costs in support of our footwear initiative , freight and duty related to increased canada sales , expansion of our leased corporate office space and distribution facility , and necessary costs associated with being a public company .as a percentage of net revenues , other corporate costs were 9.1% ( 9.1 % ) in 2005 , which is a slight increase from 8.9% ( 8.9 % ) in 2004 due to the items noted above .income from operations increased $ 10.5 million , or 41.4% ( 41.4 % ) , to $ 35.9 million in 2005 from $ 25.4 million in 2004 .income from operations as a percentage of net revenues increased to 12.7% ( 12.7 % ) in 2005 from 12.4% ( 12.4 % ) in 2004 .this increase was a result of an increase in gross margin partially offset by an increase in selling , general and administrative expenses as a percentage of net revenues .interest expense , net increased $ 1.6 million to $ 2.9 million in 2005 from $ 1.3 million in 2004 .this increase was primarily due to higher average borrowings and a higher effective interest rate under our revolving credit facility prior to being repaid in november 2005 with proceeds from the initial public offering .provision for income taxes increased $ 5.5 million to $ 13.3 million in 2005 from $ 7.8 million in 2004 .for the year ended december 31 , 2005 our effective tax rate was 40.2% ( 40.2 % ) compared to 32.3% ( 32.3 % ) in 2004 .this increase was primarily due to an increase in our effective state tax rate , which reflected reduced state tax credits earned as a percentage of income before taxes .net income increased $ 3.4 million to $ 19.7 million in 2005 from $ 16.3 million in 2004 , as a result of the factors described above .year ended december 31 , 2004 compared to year ended december 31 , 2003 net revenues increased $ 89.8 million , or 77.8% ( 77.8 % ) , to $ 205.2 million in 2004 from $ 115.4 million in 2003 .the increase was a result of increases in both our net sales and license revenues as noted in the product category table below. .
[['( in thousands )', 'year ended december 31 , 2004', 'year ended december 31 , 2003', 'year ended december 31 , $ change', 'year ended december 31 , % ( % ) change'], ['mens', '$ 151962', '$ 92197', '$ 59765', '64.8% ( 64.8 % )'], ['womens', '28659', '10968', '17691', '161.3% ( 161.3 % )'], ['youth', '12705', '8518', '4187', '49.2% ( 49.2 % )'], ['accessories', '7548', '2072', '5476', '264.3% ( 264.3 % )'], ['total net sales', '200874', '113755', '87119', '76.6% ( 76.6 % )'], ['license revenues', '4307', '1664', '2643', '158.8% ( 158.8 % )'], ['total net revenues', '$ 205181', '$ 115419', '$ 89762', '77.8% ( 77.8 % )']]
.
|
what was the percent of the increase in interest expense from 2004 to 2005
|
123%
|
{
"answer": "123%",
"decimal": 1.23,
"type": "percentage"
}
| |
engineered products and solutions .
[['', '2015', '2014', '2013'], ['third-party sales', '$ 5342', '$ 4217', '$ 4054'], ['atoi', '$ 595', '$ 579', '$ 569']]
this segment represents a portion of alcoa 2019s downstream operations and produces products that are used mostly in the aerospace ( commercial and defense ) , commercial transportation , and power generation end markets .such products include fastening systems ( titanium , steel , and nickel alloys ) and seamless rolled rings ( mostly nickel alloys ) ; and investment castings ( nickel super alloys , titanium , and aluminum ) , including airfoils and forged jet engine components ( e.g. , jet engine disks ) , all of which are sold directly to customers and through distributors .more than 70% ( 70 % ) of the third- party sales in this segment are from the aerospace end market .a small part of this segment also produces various forging and extrusion metal products for the oil and gas , industrial products , automotive , and land and sea defense end markets .seasonal decreases in sales are generally experienced in the third quarter of the year due to the european summer slowdown across all end markets .generally , the sales and costs and expenses of this segment are transacted in the local currency of the respective operations , which are mostly the u.s .dollar and the euro .in march 2015 , alcoa completed the acquisition of an aerospace castings company , tital , a privately held company with approximately 650 employees based in germany .tital produces aluminum and titanium investment casting products for the aerospace and defense end markets .in 2014 , tital generated sales of approximately $ 100 .the purpose of this acquisition is to capture increasing demand for advanced jet engine components made of titanium , establish titanium-casting capabilities in europe , and expand existing aluminum casting capacity .the operating results and assets and liabilities of tital were included within the engineered products and solutions segment since the date of acquisition .also in march 2015 , alcoa signed a definitive agreement to acquire rti international metals , inc .( rti ) , a global supplier of titanium and specialty metal products and services for the commercial aerospace , defense , energy , and medical device end markets .on july 23 , 2015 , after satisfying all customary closing conditions and receiving the required regulatory and rti shareholder approvals , alcoa completed the acquisition of rti .the purpose of this acquisition is to expand alcoa 2019s range of titanium offerings and add advanced technologies and materials , primarily related to the aerospace end market .in 2014 , rti generated net sales of $ 794 and had approximately 2600 employees .alcoa estimates that rti will generate approximately $ 1200 in third-party sales by 2019 .in executing its integration plan for rti , alcoa expects to realize annual cost savings of approximately $ 100 by 2019 due to synergies derived from procurement and productivity improvements , leveraging alcoa 2019s global shared services , and driving profitable growth .the operating results and assets and liabilities of rti were included within the engineered products and solutions segment since the date of acquisition .on november 19 , 2014 , after satisfying all customary closing conditions and receiving the required regulatory approvals , alcoa completed the acquisition of firth rixson , a global leader in aerospace jet engine components .firth rixson manufactures rings , forgings , and metal products for the aerospace end market , as well as other markets requiring highly engineered material applications .the purpose of this acquisition is to strengthen alcoa 2019s aerospace business and position the company to capture additional aerospace growth with a broader range of high-growth , value- add jet engine components .this business generated sales of approximately $ 970 in 2014 and has 13 operating facilities in the united states , united kingdom , europe , and asia employing approximately 2400 people combined .in executing its integration plan for firth rixson , alcoa expects to realize annual cost savings of more than $ 100 by 2019 due to synergies derived from procurement and productivity improvements , optimizing internal metal supply , and leveraging alcoa 2019s global shared services .the operating results and assets and liabilities of firth rixson were included within the engineered products and solutions segment since the date of acquisition .third-party sales for the engineered products and solutions segment improved 27% ( 27 % ) in 2015 compared with 2014 , largely attributable to the third-party sales ( $ 1310 ) of three acquired businesses ( see above ) , primarily aerospace- related , and higher volumes in this segment 2019s organic businesses , mostly related to the aerospace end market .these positive impacts were slightly offset by unfavorable foreign currency movements , principally driven by a weaker euro. .
|
what is the percentage of the three acquired businesses , that were responsible for the 27% ( 27 % ) improvement in third-party sales?
|
24.52%
|
{
"answer": "24.52%",
"decimal": 0.2452,
"type": "percentage"
}
|
it is the total sales of these three aquired businesses divided by the total of the third-party sales.\\n
|
we participate in a medicare health support pilot program through green ribbon health , or grh , a joint- venture company with pfizer health solutions inc .grh is designed to support medicare beneficiaries living with diabetes and/or congestive heart failure in central florida .grh uses disease management initiatives including evidence-based clinical guidelines , personal self-directed change strategies , and personal nurses to help participants navigate the health system .revenues under the contract with cms , which expires october 31 , 2008 unless terminated earlier , are subject to refund unless a savings target is met .to date , all revenues have been deferred until reliable estimates are determinable .our products marketed to commercial segment employers and members smart plans and other consumer products over the last several years , we have developed and offered various commercial products designed to provide options and choices to employers that are annually facing substantial premium increases driven by double-digit medical cost inflation .these smart plans , discussed more fully below , and other consumer offerings , which can be offered on either a fully-insured or aso basis , provided coverage to approximately 564700 members at december 31 , 2007 , representing approximately 16.4% ( 16.4 % ) of our total commercial medical membership as detailed below .smart plans and other consumer membership other commercial membership commercial medical membership .
[['', 'smart plans and other consumer membership', 'other commercial membership', 'commercial medical membership'], ['fully-insured', '327900', '1480700', '1808600'], ['aso', '236800', '1406200', '1643000'], ['total commercial medical', '564700', '2886900', '3451600']]
these products are often offered to employer groups as 201cbundles 201d , where the subscribers are offered various hmo and ppo options , with various employer contribution strategies as determined by the employer .paramount to our product strategy , we have developed a group of innovative consumer products , styled as 201csmart 201d products , that we believe will be a long-term solution for employers .we believe this new generation of products provides more ( 1 ) choices for the individual consumer , ( 2 ) transparency of provider costs , and ( 3 ) benefit designs that engage consumers in the costs and effectiveness of health care choices .innovative tools and technology are available to assist consumers with these decisions , including the trade-offs between higher premiums and point-of-service costs at the time consumers choose their plans , and to suggest ways in which the consumers can maximize their individual benefits at the point they use their plans .we believe that when consumers can make informed choices about the cost and effectiveness of their health care , a sustainable long term solution for employers can be realized .smart products , which accounted for approximately 55% ( 55 % ) of enrollment in all of our consumer-choice plans as of december 31 , 2007 , are only sold to employers who use humana as their sole health insurance carrier .some employers have selected other types of consumer-choice products , such as , ( 1 ) a product with a high deductible , ( 2 ) a catastrophic coverage plan , or ( 3 ) ones that offer a spending account option in conjunction with more traditional medical coverage or as a stand alone plan .unlike our smart products , these products , while valuable in helping employers deal with near-term cost increases by shifting costs to employees , are not considered by us to be long-term comprehensive solutions to the employers 2019 cost dilemma , although we view them as an important interim step .our commercial hmo products provide prepaid health insurance coverage to our members through a network of independent primary care physicians , specialty physicians , and other health care providers who .
|
what was the percent of the fully-insured smart plans and other consumer membership to the total commercial medical
|
58%
|
{
"answer": "58%",
"decimal": 0.58,
"type": "percentage"
}
|
58% of the total commercial medical was the fully-insured smart plans and other consumer membership
|
competition we compete in the global payment marketplace against all forms of payment , including paper- based forms ( principally cash and checks ) , card-based payments ( including credit , charge , debit , atm , prepaid , private-label and other types of general-purpose and limited-use cards ) and other electronic payments ( including wire transfers , electronic benefits transfers , automatic clearing house , or ach , payments and electronic data interchange ) .within the general purpose payment card industry , we face substantial and intense competition worldwide in the provision of payments services to financial institution customers and their cardholder merchants .the leading global card brands in the general purpose payment card industry are visa , mastercard , american express and diners club .other general-purpose card brands are more concentrated in specific geographic regions , such as jcb in japan and discover in the united states .in certain countries , our competitors have leading positions , such as china unionpay in china , which is the sole domestic inter-bank bankcard processor and operates the sole domestic bankcard acceptance mark in china due to local regulation .we also compete against private-label cards , which can generally be used to make purchases solely at the sponsoring retail store , gasoline retailer or other merchant .in the debit card market segment , visa and mastercard are the primary global brands .in addition , our interlink and visa electron brands compete with maestro , owned by mastercard , and various regional and country-specific debit network brands .in addition to our plus brand , the primary cash access card brands are cirrus , owned by mastercard , and many of the online debit network brands referenced above .in many countries , local debit brands are the primary brands , and our brands are used primarily to enable cross-border transactions , which typically constitute a small portion of overall transaction volume .see item 8 2014financial statements and supplementary data for financial information about geographic areas .based on payments volume , total volume , number of transactions and number of cards in circulation , visa is the largest retail electronic payments network in the world .the following chart compares our network with those of our major general-purpose payment network competitors for calendar year 2008 : company payments volume volume transactions cards ( billions ) ( billions ) ( billions ) ( millions ) visa inc. ( 1 ) .......................................$ 2727 $ 4346 56.7 1717 .
[['company', 'payments volume ( billions )', 'total volume ( billions )', 'total transactions ( billions )', 'cards ( millions )'], ['visa inc. ( 1 )', '$ 2727', '$ 4346', '56.7', '1717'], ['mastercard', '1900', '2533', '29.9', '981'], ['american express', '673', '683', '5.3', '92'], ['discover', '106', '120', '1.6', '57'], ['jcb', '63', '68', '0.7', '60'], ['diners club', '30', '31', '0.2', '7']]
( 1 ) visa inc .figures as reported on form 8-k filed with the sec on april 29 , 2009 .source : the nilson report , issue 924 ( april 2009 ) and issue 925 ( may 2009 ) .note : visa inc .figures exclude visa europe .figures for competitors include their respective european operations .visa figures include visa , visa electron , and interlink brands .the visa card figure includes plus-only cards ( with no visa logo ) in all regions except the united states , but plus cash volume is not included .domestic china figures including commercial funds transfers are excluded .mastercard includes pin-based debit card figures on mastercard cards , but not maestro or cirrus figures .american express includes business from third-party issuers .jcb figures are for april 2007 through march 2008 , but cards are as of september 2008 .transaction figures are estimates .figures include business from third-party issuers. .
|
what is the average payment volume per transaction of visa inc?
|
48.1
|
{
"answer": "48.1",
"decimal": 48.1,
"type": "float"
}
| |
the aggregate changes in the balance of gross unrecognized tax benefits , which excludes interest and penalties , for 2012 , 2011 , and 2010 , is as follows ( in millions ) : .
[['', '2012', '2011', '2010'], ['beginning balance', '$ 1375', '$ 943', '$ 971'], ['increases related to tax positions taken during a prior year', '340', '49', '61'], ['decreases related to tax positions taken during a prior year', '-107 ( 107 )', '-39 ( 39 )', '-224 ( 224 )'], ['increases related to tax positions taken during the current year', '467', '425', '240'], ['decreases related to settlements with taxing authorities', '-3 ( 3 )', '0', '-102 ( 102 )'], ['decreases related to expiration of statute of limitations', '-10 ( 10 )', '-3 ( 3 )', '-3 ( 3 )'], ['ending balance', '$ 2062', '$ 1375', '$ 943']]
the company includes interest and penalties related to unrecognized tax benefits within the provision for income taxes .as of september 29 , 2012 and september 24 , 2011 , the total amount of gross interest and penalties accrued was $ 401 million and $ 261 million , respectively , which is classified as non-current liabilities in the consolidated balance sheets .in connection with tax matters , the company recognized interest expense in 2012 and 2011 of $ 140 million and $ 14 million , respectively , and in 2010 the company recognized an interest benefit of $ 43 million .the company is subject to taxation and files income tax returns in the u.s .federal jurisdiction and in many state and foreign jurisdictions .for u.s .federal income tax purposes , all years prior to 2004 are closed .the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments .the company has contested certain of these adjustments through the irs appeals office .the irs is currently examining the years 2007 through 2009 .in addition , the company is also subject to audits by state , local and foreign tax authorities .in major states and major foreign jurisdictions , the years subsequent to 1989 and 2002 , respectively , generally remain open and could be subject to examination by the taxing authorities .management believes that an adequate provision has been made for any adjustments that may result from tax examinations .however , the outcome of tax audits cannot be predicted with certainty .if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income tax in the period such resolution occurs .although timing of the resolution and/or closure of audits is not certain , the company believes it is reasonably possible that tax audit resolutions could reduce its unrecognized tax benefits by between $ 120 million and $ 170 million in the next 12 months .note 6 2013 shareholders 2019 equity and share-based compensation preferred stock the company has five million shares of authorized preferred stock , none of which is issued or outstanding .under the terms of the company 2019s restated articles of incorporation , the board of directors is authorized to determine or alter the rights , preferences , privileges and restrictions of the company 2019s authorized but unissued shares of preferred stock .dividend and stock repurchase program in 2012 , the board of directors of the company approved a dividend policy pursuant to which it plans to make , subject to subsequent declaration , quarterly dividends of $ 2.65 per share .on july 24 , 2012 , the board of directors declared a dividend of $ 2.65 per share to shareholders of record as of the close of business on august 13 , 2012 .the company paid $ 2.5 billion in conjunction with this dividend on august 16 , 2012 .no dividends were declared in the first three quarters of 2012 or in 2011 and 2010. .
|
what was the percentage change in the gross unrecognized tax benefits between 2010 and 2011?
|
46%
|
{
"answer": "46%",
"decimal": 0.46,
"type": "percentage"
}
| |
mfc 2019s operating profit for 2013 increased $ 175 million , or 14% ( 14 % ) , compared to 2012 .the increase was primarily attributable to higher operating profit of approximately $ 85 million for air and missile defense programs ( thaad and pac-3 ) due to increased risk retirements and volume ; about $ 85 million for fire control programs ( sniper ae , lantirn ae and apache ) due to increased risk retirements and higher volume ; and approximately $ 75 million for tactical missile programs ( hellfire and various programs ) due to increased risk retirements .the increases were partially offset by lower operating profit of about $ 45 million for the resolution of contractual matters in the second quarter of 2012 ; and approximately $ 15 million for various technical services programs due to lower volume partially offset by increased risk retirements .adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 100 million higher for 2013 compared to 2012 .2012 compared to 2011 mfc 2019s net sales for 2012 were comparable to 2011 .net sales decreased approximately $ 130 million due to lower volume and risk retirements on various services programs , and about $ 60 million due to lower volume from fire control systems programs ( primarily sniper ae ; lantirn ae ; and apache ) .the decreases largely were offset by higher net sales of approximately $ 95 million due to higher volume from tactical missile programs ( primarily javelin and hellfire ) and approximately $ 80 million for air and missile defense programs ( primarily pac-3 and thaad ) .mfc 2019s operating profit for 2012 increased $ 187 million , or 17% ( 17 % ) , compared to 2011 .the increase was attributable to higher risk retirements and volume of about $ 95 million from tactical missile programs ( primarily javelin and hellfire ) ; increased risk retirements and volume of approximately $ 60 million for air and missile defense programs ( primarily thaad and pac-3 ) ; and about $ 45 million from a resolution of contractual matters .partially offsetting these increases was lower risk retirements and volume on various programs , including $ 25 million for services programs .adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 145 million higher for 2012 compared to 2011 .backlog backlog increased in 2013 compared to 2012 mainly due to higher orders on the thaad program and lower sales volume compared to new orders on certain fire control systems programs in 2013 , partially offset by lower orders on technical services programs and certain tactical missile programs .backlog increased in 2012 compared to 2011 mainly due to increased orders and lower sales on fire control systems programs ( primarily lantirn ae and sniper ae ) and on various services programs , partially offset by lower orders and higher sales volume on tactical missiles programs .trends we expect mfc 2019s net sales to be flat to slightly down in 2014 compared to 2013 , primarily due to a decrease in net sales on technical services programs partially offset by an increase in net sales from missiles and fire control programs .operating profit is expected to decrease in the high single digit percentage range , driven by a reduction in expected risk retirements in 2014 .accordingly , operating profit margin is expected to slightly decline from 2013 .mission systems and training our mst business segment provides ship and submarine mission and combat systems ; mission systems and sensors for rotary and fixed-wing aircraft ; sea and land-based missile defense systems ; radar systems ; littoral combat ships ; simulation and training services ; and unmanned systems and technologies .mst 2019s major programs include aegis combat system ( aegis ) , lcs , mh-60 , tpq-53 radar system , and mk-41 vertical launching system ( vls ) .mst 2019s operating results included the following ( in millions ) : .
[['', '2013', '2012', '2011'], ['net sales', '$ 7153', '$ 7579', '$ 7132'], ['operating profit', '905', '737', '645'], ['operating margins', '12.7% ( 12.7 % )', '9.7% ( 9.7 % )', '9.0% ( 9.0 % )'], ['backlog at year-end', '10800', '10700', '10500']]
2013 compared to 2012 mst 2019s net sales for 2013 decreased $ 426 million , or 6% ( 6 % ) , compared to 2012 .the decrease was primarily attributable to lower net sales of approximately $ 275 million for various ship and aviation systems programs due to lower volume .
|
what was the ratio of the net increase sales leading to the net increase in the operating profit in 2012 to the net decrease in the sales
|
4.08
|
{
"answer": "4.08",
"decimal": 4.08,
"type": "float"
}
| |
table of contents other equity method investments infraservs .we hold indirect ownership interests in several german infraserv groups that own and develop industrial parks and provide on-site general and administrative support to tenants .our ownership interest in the equity investments in infraserv affiliates are as follows : as of december 31 , 2017 ( in percentages ) infraserv gmbh & co .gendorf kg ( 1 ) ................................................................................................... .39 .
[['', 'as of december 31 2017 ( in percentages )'], ['infraserv gmbh & co . gendorf kg ( 1 )', '39'], ['infraserv gmbh & co . hoechst kg', '32'], ['infraserv gmbh & co . knapsack kg ( 1 )', '27']]
infraserv gmbh & co .knapsack kg ( 1 ) ................................................................................................ .27 ______________________________ ( 1 ) see note 29 - subsequent events in the accompanying consolidated financial statements for further information .research and development our business models leverage innovation and conduct research and development activities to develop new , and optimize existing , production technologies , as well as to develop commercially viable new products and applications .research and development expense was $ 72 million , $ 78 million and $ 119 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .we consider the amounts spent during each of the last three fiscal years on research and development activities to be sufficient to execute our current strategic initiatives .intellectual property we attach importance to protecting our intellectual property , including safeguarding our confidential information and through our patents , trademarks and copyrights , in order to preserve our investment in research and development , manufacturing and marketing .patents may cover processes , equipment , products , intermediate products and product uses .we also seek to register trademarks as a means of protecting the brand names of our company and products .patents .in most industrial countries , patent protection exists for new substances and formulations , as well as for certain unique applications and production processes .however , we do business in regions of the world where intellectual property protection may be limited and difficult to enforce .confidential information .we maintain stringent information security policies and procedures wherever we do business .such information security policies and procedures include data encryption , controls over the disclosure and safekeeping of confidential information and trade secrets , as well as employee awareness training .trademarks .amcel ae , aoplus ae , ateva ae , avicor ae , celanese ae , celanex ae , celcon ae , celfx ae , celstran ae , celvolit ae , clarifoil ae , dur- o-set ae , ecomid ae , ecovae ae , forflex ae , forprene ae , frianyl ae , fortron ae , ghr ae , gumfit ae , gur ae , hostaform ae , laprene ae , metalx ae , mowilith ae , mt ae , nilamid ae , nivionplast ae , nutrinova ae , nylfor ae , pibiflex ae , pibifor ae , pibiter ae , polifor ae , resyn ae , riteflex ae , slidex ae , sofprene ae , sofpur ae , sunett ae , talcoprene ae , tecnoprene ae , thermx ae , tufcor ae , vantage ae , vectra ae , vinac ae , vinamul ae , vitaldose ae , zenite ae and certain other branded products and services named in this document are registered or reserved trademarks or service marks owned or licensed by celanese .the foregoing is not intended to be an exhaustive or comprehensive list of all registered or reserved trademarks and service marks owned or licensed by celanese .fortron ae is a registered trademark of fortron industries llc .hostaform ae is a registered trademark of hoechst gmbh .mowilith ae and nilamid ae are registered trademarks of celanese in most european countries .we monitor competitive developments and defend against infringements on our intellectual property rights .neither celanese nor any particular business segment is materially dependent upon any one patent , trademark , copyright or trade secret .environmental and other regulation matters pertaining to environmental and other regulations are discussed in item 1a .risk factors , as well as note 2 - summary of accounting policies , note 16 - environmental and note 24 - commitments and contingencies in the accompanying consolidated financial statements. .
|
what is the percentage change in research and development expense from 2016 to 2017?
|
-7.7%
|
{
"answer": "-7.7%",
"decimal": -0.077,
"type": "percentage"
}
| |
agreements associated with the agency securitizations , most sale agreements do not provide for penalties or other remedies if we do not respond timely to investor indemnification or repurchase requests .origination and sale of residential mortgages is an ongoing business activity and , accordingly , management continually assesses the need to recognize indemnification and repurchase liabilities pursuant to the associated investor sale agreements .we establish indemnification and repurchase liabilities for estimated losses on sold first and second-lien mortgages and home equity loans/lines for which indemnification is expected to be provided or for loans that are expected to be repurchased .for the first and second-lien mortgage sold portfolio , we have established an indemnification and repurchase liability pursuant to investor sale agreements based on claims made and our estimate of future claims on a loan by loan basis .these relate primarily to loans originated during 2006-2008 .for the home equity loans/lines sold portfolio , we have established indemnification and repurchase liabilities based upon this same methodology for loans sold during 2005-2007 .indemnification and repurchase liabilities are initially recognized when loans are sold to investors and are subsequently evaluated by management .initial recognition and subsequent adjustments to the indemnification and repurchase liability for the sold residential mortgage portfolio are recognized in residential mortgage revenue on the consolidated income statement .since pnc is no longer engaged in the brokered home equity lending business , only subsequent adjustments are recognized to the home equity loans/lines indemnification and repurchase liability .these adjustments are recognized in other noninterest income on the consolidated income statement .management 2019s subsequent evaluation of these indemnification and repurchase liabilities is based upon trends in indemnification and repurchase requests , actual loss experience , risks in the underlying serviced loan portfolios , and current economic conditions .as part of its evaluation , management considers estimated loss projections over the life of the subject loan portfolio .at december 31 , 2011 and december 31 , 2010 , the total indemnification and repurchase liability for estimated losses on indemnification and repurchase claims totaled $ 130 million and $ 294 million , respectively , and was included in other liabilities on the consolidated balance sheet .an analysis of the changes in this liability during 2011 and 2010 follows : analysis of indemnification and repurchase liability for asserted claims and unasserted claims .
[['in millions', '2011 residential mortgages ( a )', '2011 home equity loans/lines ( b )', '2011 total', '2011 residential mortgages ( a )', '2011 home equity loans/lines ( b )', 'total'], ['january 1', '$ 144', '$ 150', '$ 294', '$ 229', '$ 41', '$ 270'], ['reserve adjustments net', '102', '4', '106', '120', '144', '264'], ['losses 2013 loan repurchases and settlements', '-163 ( 163 )', '-107 ( 107 )', '-270 ( 270 )', '-205 ( 205 )', '-35 ( 35 )', '-240 ( 240 )'], ['december 31', '$ 83', '$ 47', '$ 130', '$ 144', '$ 150', '$ 294']]
( a ) repurchase obligation associated with sold loan portfolios of $ 121.4 billion and $ 139.8 billion at december 31 , 2011 and december 31 , 2010 , respectively .( b ) repurchase obligation associated with sold loan portfolios of $ 4.5 billion and $ 6.5 billion at december 31 , 2011 and december 31 , 2010 , respectively .pnc is no longer engaged in the brokered home equity lending business , which was acquired with national city .management believes our indemnification and repurchase liabilities appropriately reflect the estimated probable losses on investor indemnification and repurchase claims at december 31 , 2011 and 2010 .while management seeks to obtain all relevant information in estimating the indemnification and repurchase liability , the estimation process is inherently uncertain and imprecise and , accordingly , it is reasonably possible that future indemnification and repurchase losses could be more or less than our established liability .factors that could affect our estimate include the volume of valid claims driven by investor strategies and behavior , our ability to successfully negotiate claims with investors , housing prices , and other economic conditions .at december 31 , 2011 , we estimate that it is reasonably possible that we could incur additional losses in excess of our indemnification and repurchase liability of up to $ 85 million .this estimate of potential additional losses in excess of our liability is based on assumed higher investor demands , lower claim rescissions , and lower home prices than our current assumptions .reinsurance agreements we have two wholly-owned captive insurance subsidiaries which provide reinsurance to third-party insurers related to insurance sold to our customers .these subsidiaries enter into various types of reinsurance agreements with third-party insurers where the subsidiary assumes the risk of loss through either an excess of loss or quota share agreement up to 100% ( 100 % ) reinsurance .in excess of loss agreements , these subsidiaries assume the risk of loss for an excess layer of coverage up to specified limits , once a defined first loss percentage is met .in quota share agreements , the subsidiaries and third-party insurers share the responsibility for payment of all claims .these subsidiaries provide reinsurance for accidental death & dismemberment , credit life , accident & health , lender placed 200 the pnc financial services group , inc .2013 form 10-k .
|
home equity loans were what percent of the total indemnification and repurchase liability for asserted claims and unasserted claims as of december 31 2011?
|
36.1%
|
{
"answer": "36.1%",
"decimal": 0.361,
"type": "percentage"
}
| |
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 20 .impairment expense asset impairment asset impairment expense for the year ended december 31 , 2011 consisted of : ( in millions ) .
[['', '2011 ( in millions )'], ['wind turbines & deposits', '$ 116'], ['tisza ii', '52'], ['kelanitissa', '42'], ['other', '15'], ['total', '$ 225']]
wind turbines & deposits 2014during the third quarter of 2011 , the company evaluated the future use of certain wind turbines held in storage pending their installation .due to reduced wind turbine market pricing and advances in turbine technology , the company determined it was more likely than not that the turbines would be sold significantly before the end of their previously estimated useful lives .in addition , the company has concluded that more likely than not non-refundable deposits it had made in prior years to a turbine manufacturer for the purchase of wind turbines are not recoverable .the company determined it was more likely than not that it would not proceed with the purchase of turbines due to the availability of more advanced and lower cost turbines in the market .these developments were more likely than not as of september 30 , 2011 and as a result were considered impairment indicators and the company determined that an impairment had occurred as of september 30 , 2011 as the aggregate carrying amount of $ 161 million of these assets was not recoverable and was reduced to their estimated fair value of $ 45 million determined under the market approach .this resulted in asset impairment expense of $ 116 million .wind generation is reported in the corporate and other segment .in january 2012 , the company forfeited the deposits for which a full impairment charge was recognized in the third quarter of 2011 , and there is no obligation for further payments under the related turbine supply agreement .additionally , the company sold some of the turbines held in storage during the fourth quarter of 2011 and is continuing to evaluate the future use of the turbines held in storage .the company determined it is more likely than not that they will be sold , however they are not being actively marketed for sale at this time as the company is reconsidering the potential use of the turbines in light of recent development activity at one of its advance stage development projects .it is reasonably possible that the turbines could incur further loss in value due to changing market conditions and advances in technology .tisza ii 2014during the fourth quarter of 2011 , tisza ii , a 900 mw gas and oil-fired generation plant in hungary entered into annual negotiations with its offtaker .as a result of these negotiations , as well as the further deterioration of the economic environment in hungary , the company determined that an indicator of impairment existed at december 31 , 2011 .thus , the company performed an asset impairment test and determined that based on the undiscounted cash flow analysis , the carrying amount of tisza ii asset group was not recoverable .the fair value of the asset group was then determined using a discounted cash flow analysis .the carrying value of the tisza ii asset group of $ 94 million exceeded the fair value of $ 42 million resulting in the recognition of asset impairment expense of $ 52 million during the three months ended december 31 , 2011 .tisza ii is reported in the europe generation reportable segment .kelanitissa 2014in 2011 , the company recognized asset impairment expense of $ 42 million for the long-lived assets of kelanitissa , our diesel-fired generation plant in sri lanka .we have continued to evaluate the recoverability of our long-lived assets at kelanitissa as a result of both the existing government regulation which .
|
what percentage of asset impairment expense for the year ended december 31 , 2011 was related to tisza ii?
|
23%
|
{
"answer": "23%",
"decimal": 0.23,
"type": "percentage"
}
| |
fy 11 | 53 the company paid income taxes of $ 60515 , $ 42116 , and $ 62965 in 2011 , 2010 , and 2009 , respectively .at june 30 , 2010 , the company had $ 7187 of unrecognized tax benefits .at june 30 , 2011 , the company had $ 8897 of unrecognized tax benefits , of which , $ 6655 , if recognized , would affect our effective tax rate .we had accrued interest and penalties of $ 1030 and $ 890 related to uncertain tax positions at june 30 , 2011 and 2010 , respectively .a reconciliation of the unrecognized tax benefits for the years ended june 30 , 2011 and 2010 follows : unrecognized tax benefits .
[['', 'unrecognized tax benefits'], ['balance at july 1 2009', '$ 5518'], ['additions for current year tax positions', '691'], ['reductions for current year tax positions', '-39 ( 39 )'], ['additions for prior year tax positions', '2049'], ['reductions for prior year tax positions', '-298 ( 298 )'], ['settlements', '-'], ['reductions related to expirations of statute of limitations', '-734 ( 734 )'], ['balance at june 30 2010', '7187'], ['additions for current year tax positions', '1338'], ['reductions for current year tax positions', '-'], ['additions for prior year tax positions', '599'], ['reductions for prior year tax positions', '-'], ['settlements', '-'], ['reductions related to expirations of statute of limitations', '-227 ( 227 )'], ['balance at june 30 2011', '$ 8897']]
during the fiscal year ended june 30 , 2010 , the internal revenue service commenced an examination of the company 2019s u.s .federal income tax returns for fiscal years ended june 2008 through 2009 that is anticipated to be completed by the end of calendar year 2011 .at this time , it is anticipated that the examination will not result in a material change to the company 2019s financial position .the u.s .federal and state income tax returns for june 30 , 2008 and all subsequent years still remain subject to examination as of june 30 , 2011 under statute of limitations rules .we anticipate potential changes resulting from our irs examination and expiration of statutes of limitations could reduce the unrecognized tax benefits balance by $ 3000 - $ 4000 within twelve months of june 30 , 2011 .note 8 : industry and supplier concentrations the company sells its products to banks , credit unions , and financial institutions throughout the united states and generally does not require collateral .all billings to customers are due 30 days from date of billing .reserves ( which are insignificant at june 30 , 2011 , 2010 and 2009 ) are maintained for potential credit losses .in addition , the company purchases most of its computer hardware and related maintenance for resale in relation to installation of jha software systems from two suppliers .there are a limited number of hardware suppliers for these required items .if these relationships were terminated , it could have a significant negative impact on the future operations of the company .note 9 : stock based compensation plans our pre-tax operating income for the years ended june 30 , 2011 , 2010 and 2009 includes $ 4723 , $ 3251 and $ 2272 of stock-based compensation costs , respectively .total compensation cost for the years ended june 30 , 2011 , 2010 and 2009 includes $ 4209 , $ 2347 , and $ 1620 relating to the restricted stock plan , respectively. .
|
during 2011 , what were the net additions for unrecognized tax benefits for all years?
|
1937
|
{
"answer": "1937",
"decimal": 1937,
"type": "float"
}
| |
see note 10 goodwill and other intangible assets for further discussion of the accounting for goodwill and other intangible assets .the estimated amount of rbc bank ( usa ) revenue and net income ( excluding integration costs ) included in pnc 2019s consolidated income statement for 2012 was $ 1.0 billion and $ 273 million , respectively .upon closing and conversion of the rbc bank ( usa ) transaction , subsequent to march 2 , 2012 , separate records for rbc bank ( usa ) as a stand-alone business have not been maintained as the operations of rbc bank ( usa ) have been fully integrated into pnc .rbc bank ( usa ) revenue and earnings disclosed above reflect management 2019s best estimate , based on information available at the reporting date .the following table presents certain unaudited pro forma information for illustrative purposes only , for 2012 and 2011 as if rbc bank ( usa ) had been acquired on january 1 , 2011 .the unaudited estimated pro forma information combines the historical results of rbc bank ( usa ) with the company 2019s consolidated historical results and includes certain adjustments reflecting the estimated impact of certain fair value adjustments for the respective periods .the pro forma information is not indicative of what would have occurred had the acquisition taken place on january 1 , 2011 .in particular , no adjustments have been made to eliminate the impact of other-than-temporary impairment losses and losses recognized on the sale of securities that may not have been necessary had the investment securities been recorded at fair value as of january 1 , 2011 .the unaudited pro forma information does not consider any changes to the provision for credit losses resulting from recording loan assets at fair value .additionally , the pro forma financial information does not include the impact of possible business model changes and does not reflect pro forma adjustments to conform accounting policies between rbc bank ( usa ) and pnc .additionally , pnc expects to achieve further operating cost savings and other business synergies , including revenue growth , as a result of the acquisition that are not reflected in the pro forma amounts that follow .as a result , actual results will differ from the unaudited pro forma information presented .table 57 : rbc bank ( usa ) and pnc unaudited pro forma results .
[['in millions', 'for the year ended december 31 2012', 'for the year ended december 31 2011'], ['total revenues', '$ 15721', '$ 15421'], ['net income', '2989', '2911']]
in connection with the rbc bank ( usa ) acquisition and other prior acquisitions , pnc recognized $ 267 million of integration charges in 2012 .pnc recognized $ 42 million of integration charges in 2011 in connection with prior acquisitions .the integration charges are included in the table above .sale of smartstreet effective october 26 , 2012 , pnc divested certain deposits and assets of the smartstreet business unit , which was acquired by pnc as part of the rbc bank ( usa ) acquisition , to union bank , n.a .smartstreet is a nationwide business focused on homeowner or community association managers and had approximately $ 1 billion of assets and deposits as of september 30 , 2012 .the gain on sale was immaterial and resulted in a reduction of goodwill and core deposit intangibles of $ 46 million and $ 13 million , respectively .results from operations of smartstreet from march 2 , 2012 through october 26 , 2012 are included in our consolidated income statement .flagstar branch acquisition effective december 9 , 2011 , pnc acquired 27 branches in the northern metropolitan atlanta , georgia area from flagstar bank , fsb , a subsidiary of flagstar bancorp , inc .the fair value of the assets acquired totaled approximately $ 211.8 million , including $ 169.3 million in cash , $ 24.3 million in fixed assets and $ 18.2 million of goodwill and intangible assets .we also assumed approximately $ 210.5 million of deposits associated with these branches .no deposit premium was paid and no loans were acquired in the transaction .our consolidated income statement includes the impact of the branch activity subsequent to our december 9 , 2011 acquisition .bankatlantic branch acquisition effective june 6 , 2011 , we acquired 19 branches in the greater tampa , florida area from bankatlantic , a subsidiary of bankatlantic bancorp , inc .the fair value of the assets acquired totaled $ 324.9 million , including $ 256.9 million in cash , $ 26.0 million in fixed assets and $ 42.0 million of goodwill and intangible assets .we also assumed approximately $ 324.5 million of deposits associated with these branches .a $ 39.0 million deposit premium was paid and no loans were acquired in the transaction .our consolidated income statement includes the impact of the branch activity subsequent to our june 6 , 2011 acquisition .sale of pnc global investment servicing on july 1 , 2010 , we sold pnc global investment servicing inc .( gis ) , a leading provider of processing , technology and business intelligence services to asset managers , broker- dealers and financial advisors worldwide , for $ 2.3 billion in cash pursuant to a definitive agreement entered into on february 2 , 2010 .this transaction resulted in a pretax gain of $ 639 million , net of transaction costs , in the third quarter of 2010 .this gain and results of operations of gis through june 30 , 2010 are presented as income from discontinued operations , net of income taxes , on our consolidated income statement .as part of the sale agreement , pnc has agreed to provide certain transitional services on behalf of gis until completion of related systems conversion activities .138 the pnc financial services group , inc .2013 form 10-k .
|
what was the percent of the cash in the fair value of the assets acquired
|
79.1%
|
{
"answer": "79.1%",
"decimal": 0.7909999999999999,
"type": "percentage"
}
| |
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2010 , 2009 , and 2008 ( 3 ) multilateral loans include loans funded and guaranteed by bilaterals , multilaterals , development banks and other similar institutions .( 4 ) non-recourse debt of $ 708 million as of december 31 , 2009 was excluded from non-recourse debt and included in current and long-term liabilities of held for sale and discontinued businesses in the accompanying consolidated balance sheets .non-recourse debt as of december 31 , 2010 is scheduled to reach maturity as set forth in the table below : december 31 , annual maturities ( in millions ) .
[['december 31,', 'annual maturities ( in millions )'], ['2011', '$ 2577'], ['2012', '657'], ['2013', '953'], ['2014', '1839'], ['2015', '1138'], ['thereafter', '7957'], ['total non-recourse debt', '$ 15121']]
as of december 31 , 2010 , aes subsidiaries with facilities under construction had a total of approximately $ 432 million of committed but unused credit facilities available to fund construction and other related costs .excluding these facilities under construction , aes subsidiaries had approximately $ 893 million in a number of available but unused committed revolving credit lines to support their working capital , debt service reserves and other business needs .these credit lines can be used in one or more of the following ways : solely for borrowings ; solely for letters of credit ; or a combination of these uses .the weighted average interest rate on borrowings from these facilities was 3.24% ( 3.24 % ) at december 31 , 2010 .non-recourse debt covenants , restrictions and defaults the terms of the company 2019s non-recourse debt include certain financial and non-financial covenants .these covenants are limited to subsidiary activity and vary among the subsidiaries .these covenants may include but are not limited to maintenance of certain reserves , minimum levels of working capital and limitations on incurring additional indebtedness .compliance with certain covenants may not be objectively determinable .as of december 31 , 2010 and 2009 , approximately $ 803 million and $ 653 million , respectively , of restricted cash was maintained in accordance with certain covenants of the non-recourse debt agreements , and these amounts were included within 201crestricted cash 201d and 201cdebt service reserves and other deposits 201d in the accompanying consolidated balance sheets .various lender and governmental provisions restrict the ability of certain of the company 2019s subsidiaries to transfer their net assets to the parent company .such restricted net assets of subsidiaries amounted to approximately $ 5.4 billion at december 31 , 2010. .
|
what percentage of total non-recourse debt as of december 31 , 2010 is due in 2013?
|
6%
|
{
"answer": "6%",
"decimal": 0.06,
"type": "percentage"
}
| |
the following table details the growth in global weighted average berths and the global , north american , european and asia/pacific cruise guests over the past five years ( in thousands , except berth data ) : weighted- average supply of berths marketed globally ( 1 ) caribbean cruises ltd .total berths ( 2 ) global cruise guests ( 1 ) american cruise guests ( 1 ) ( 3 ) european cruise guests ( 1 ) ( 4 ) asia/pacific cruise guests ( 1 ) ( 5 ) .
[['year', 'weighted-averagesupply ofberthsmarketedglobally ( 1 )', 'royal caribbean cruises ltd . total berths ( 2 )', 'globalcruiseguests ( 1 )', 'north american cruise guests ( 1 ) ( 3 )', 'european cruise guests ( 1 ) ( 4 )', 'asia/pacific cruise guests ( 1 ) ( 5 )'], ['2012', '425000', '98650', '20813', '11641', '6225', '1474'], ['2013', '432000', '98750', '21343', '11710', '6430', '2045'], ['2014', '448000', '105750', '22039', '12269', '6387', '2382'], ['2015', '469000', '112700', '23000', '12004', '6587', '3129'], ['2016', '493000', '123270', '24000', '12581', '6542', '3636']]
_______________________________________________________________________________ ( 1 ) source : our estimates of the number of global cruise guests and the weighted-average supply of berths marketed globally are based on a combination of data that we obtain from various publicly available cruise industry trade information sources .we use data obtained from seatrade insider , cruise industry news and company press releases to estimate weighted-average supply of berths and clia and g.p .wild to estimate cruise guest information .in addition , our estimates incorporate our own statistical analysis utilizing the same publicly available cruise industry data as a base .( 2 ) total berths include our berths related to our global brands and partner brands .( 3 ) our estimates include the united states and canada .( 4 ) our estimates include european countries relevant to the industry ( e.g. , nordics , germany , france , italy , spain and the united kingdom ) .( 5 ) our estimates include the southeast asia ( e.g. , singapore , thailand and the philippines ) , east asia ( e.g. , china and japan ) , south asia ( e.g. , india and pakistan ) and oceanian ( e.g. , australia and fiji islands ) regions .north america the majority of industry cruise guests are sourced from north america , which represented approximately 52% ( 52 % ) of global cruise guests in 2016 .the compound annual growth rate in cruise guests sourced from this market was approximately 2% ( 2 % ) from 2012 to 2016 .europe industry cruise guests sourced from europe represented approximately 27% ( 27 % ) of global cruise guests in 2016 .the compound annual growth rate in cruise guests sourced from this market was approximately 1% ( 1 % ) from 2012 to 2016 .asia/pacific industry cruise guests sourced from the asia/pacific region represented approximately 15% ( 15 % ) of global cruise guests in 2016 .the compound annual growth rate in cruise guests sourced from this market was approximately 25% ( 25 % ) from 2012 to 2016 .the asia/pacific region is experiencing the highest growth rate of the major regions , although it will continue to represent a relatively small sector compared to north america .competition we compete with a number of cruise lines .our principal competitors are carnival corporation & plc , which owns , among others , aida cruises , carnival cruise line , costa cruises , cunard line , holland america line , p&o cruises , princess cruises and seabourn ; disney cruise line ; msc cruises ; and norwegian cruise line holdings ltd , which owns norwegian cruise line , oceania cruises and regent seven seas cruises .cruise lines compete with .
|
what percentage increase in asian cruise guests occurred between 2012 and 2016?
|
146.7%
|
{
"answer": "146.7%",
"decimal": 1.4669999999999999,
"type": "percentage"
}
| |
note 17 .accumulated other comprehensive losses : pmi's accumulated other comprehensive losses , net of taxes , consisted of the following: .
[['( losses ) earnings ( in millions )', '( losses ) earnings 2014', '( losses ) earnings 2013', '2012'], ['currency translation adjustments', '$ -3929 ( 3929 )', '$ -2207 ( 2207 )', '$ -331 ( 331 )'], ['pension and other benefits', '-3020 ( 3020 )', '-2046 ( 2046 )', '-3365 ( 3365 )'], ['derivatives accounted for as hedges', '123', '63', '92'], ['total accumulated other comprehensive losses', '$ -6826 ( 6826 )', '$ -4190 ( 4190 )', '$ -3604 ( 3604 )']]
reclassifications from other comprehensive earnings the movements in accumulated other comprehensive losses and the related tax impact , for each of the components above , that are due to current period activity and reclassifications to the income statement are shown on the consolidated statements of comprehensive earnings for the years ended december 31 , 2014 , 2013 , and 2012 .the movement in currency translation adjustments for the year ended december 31 , 2013 , was also impacted by the purchase of the remaining shares of the mexican tobacco business .in addition , $ 5 million and $ 12 million of net currency translation adjustment gains were transferred from other comprehensive earnings to marketing , administration and research costs in the consolidated statements of earnings for the years ended december 31 , 2014 and 2013 , respectively , upon liquidation of a subsidiary .for additional information , see note 13 .benefit plans and note 15 .financial instruments for disclosures related to pmi's pension and other benefits and derivative financial instruments .note 18 .colombian investment and cooperation agreement : on june 19 , 2009 , pmi announced that it had signed an agreement with the republic of colombia , together with the departments of colombia and the capital district of bogota , to promote investment and cooperation with respect to the colombian tobacco market and to fight counterfeit and contraband tobacco products .the investment and cooperation agreement provides $ 200 million in funding to the colombian governments over a 20-year period to address issues of mutual interest , such as combating the illegal cigarette trade , including the threat of counterfeit tobacco products , and increasing the quality and quantity of locally grown tobacco .as a result of the investment and cooperation agreement , pmi recorded a pre-tax charge of $ 135 million in the operating results of the latin america & canada segment during the second quarter of 2009 .at december 31 , 2014 and 2013 , pmi had $ 71 million and $ 74 million , respectively , of discounted liabilities associated with the colombian investment and cooperation agreement .these discounted liabilities are primarily reflected in other long-term liabilities on the consolidated balance sheets and are expected to be paid through 2028 .note 19 .rbh legal settlement : on july 31 , 2008 , rothmans inc .( "rothmans" ) announced the finalization of a cad 550 million settlement ( or approximately $ 540 million , based on the prevailing exchange rate at that time ) between itself and rothmans , benson & hedges inc .( "rbh" ) , on the one hand , and the government of canada and all 10 provinces , on the other hand .the settlement resolved the royal canadian mounted police's investigation relating to products exported from canada by rbh during the 1989-1996 period .rothmans' sole holding was a 60% ( 60 % ) interest in rbh .the remaining 40% ( 40 % ) interest in rbh was owned by pmi. .
|
what is the percentage change in discounted liabilities from 2013 to 2014?
|
4.1%
|
{
"answer": "4.1%",
"decimal": 0.040999999999999995,
"type": "percentage"
}
| |
23t .rowe price group | annual report 2013 contractual obligations the following table presents a summary of our future obligations ( in millions ) under the terms of existing operating leases and other contractual cash purchase commitments at december 31 , 2013 .other purchase commitments include contractual amounts that will be due for the purchase of goods or services to be used in our operations and may be cancelable at earlier times than those indicated , under certain conditions that may involve termination fees .because these obligations are generally of a normal recurring nature , we expect that we will fund them from future cash flows from operations .the information presented does not include operating expenses or capital expenditures that will be committed in the normal course of operations in 2014 and future years .the information also excludes the $ 4.8 million of uncertain tax positions discussed in note 8 to our consolidated financial statements because it is not possible to estimate the time period in which a payment might be made to the tax authorities. .
[['', 'total', '2014', '2015-16', '2017-18', 'later'], ['noncancelable operating leases', '$ 124', '$ 32', '$ 57', '$ 25', '$ 10'], ['other purchase commitments', '149', '108', '34', '7', '2014'], ['total', '$ 273', '$ 140', '$ 91', '$ 32', '$ 10']]
we also have outstanding commitments to fund additional contributions to investment partnerships totaling $ 40.7 million at december 31 , 2013 .the vast majority of these additional contributions will be made to investment partnerships in which we have an existing investment .in addition to such amounts , a percentage of prior distributions may be called under certain circumstances .in january 2014 , we renewed and extended our operating lease at our corporate headquarters in baltimore , maryland through 2027 .this lease agreement increases the above disclosed total noncancelable operating lease commitments by an additional $ 133.0 million , the vast majority of which will be paid after 2018 .critical accounting policies the preparation of financial statements often requires the selection of specific accounting methods and policies from among several acceptable alternatives .further , significant estimates and judgments may be required in selecting and applying those methods and policies in the recognition of the assets and liabilities in our consolidated balance sheets , the revenues and expenses in our consolidated statements of income , and the information that is contained in our significant accounting policies and notes to consolidated financial statements .making these estimates and judgments requires the analysis of information concerning events that may not yet be complete and of facts and circumstances that may change over time .accordingly , actual amounts or future results can differ materially from those estimates that we include currently in our consolidated financial statements , significant accounting policies , and notes .we present those significant accounting policies used in the preparation of our consolidated financial statements as an integral part of those statements within this 2013 annual report .in the following discussion , we highlight and explain further certain of those policies that are most critical to the preparation and understanding of our financial statements .other-than-temporary impairments of available-for-sale securities .we generally classify our investment holdings in sponsored funds as available-for-sale if we are not deemed to a have a controlling financial interest .at the end of each quarter , we mark the carrying amount of each investment holding to fair value and recognize an unrealized gain or loss as a component of comprehensive income within the consolidated statements of comprehensive income .we next review each individual security position that has an unrealized loss or impairment to determine if that impairment is other than temporary .in determining whether a mutual fund holding is other-than-temporarily impaired , we consider many factors , including the duration of time it has existed , the severity of the impairment , any subsequent changes in value , and our intent and ability to hold the security for a period of time sufficient for an anticipated recovery in fair value .subject to the other considerations noted above , we believe a fund holding with an unrealized loss that has persisted daily throughout the six months between quarter-ends is generally presumed to have an other-than-temporary impairment .we may also recognize an other-than-temporary loss of less than six months in our consolidated statements of income if the particular circumstances of the underlying investment do not warrant our belief that a near-term recovery is possible. .
|
what percent of the total future obligations in 2014 are from other purchase commitments?
|
55%
|
{
"answer": "55%",
"decimal": 0.55,
"type": "percentage"
}
| |
republic services , inc .notes to consolidated financial statements 2014 ( continued ) 11 .employee benefit plans stock-based compensation in february 2007 , our board of directors approved the 2007 stock incentive plan ( 2007 plan ) , and in may 2007 our shareholders ratified the 2007 plan .in march 2011 , our board of directors approved the amended and restated 2007 stock incentive plan , and in may 2011 our shareholders ratified the amended and restated 2007 stock incentive plan .in march 2013 , our board of directors approved the republic services , inc .amended and restated 2007 stock incentive plan ( the amended and restated plan ) , and in may 2013 our shareholders ratified the amended and restated plan .we currently have approximately 15.6 million shares of common stock reserved for future grants under the amended and restated plan .options granted under the 2007 plan and the amended and restated plan are non-qualified and are granted at a price equal to the fair market value of our common stock at the date of grant .generally , options granted have a term of seven to ten years from the date of grant , and vest in increments of 25% ( 25 % ) per year over a period of four years beginning on the first anniversary date of the grant .options granted to non-employee directors have a term of ten years and are fully vested at the grant date .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 , to reflect 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 2014 and 2013 ) and expected life of the options .when appropriate , separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes .we did not grant stock options during the year ended december 31 , 2015 .the weighted-average estimated fair values of stock options granted during the years ended december 31 , 2014 and 2013 were $ 5.74 and $ 5.27 per option , respectively , which were calculated using the following weighted-average assumptions: .
[['', '2014', '2013'], ['expected volatility', '27.5% ( 27.5 % )', '28.9% ( 28.9 % )'], ['risk-free interest rate', '1.4% ( 1.4 % )', '0.7% ( 0.7 % )'], ['dividend yield', '3.2% ( 3.2 % )', '3.2% ( 3.2 % )'], ['expected life ( in years )', '4.6', '4.5'], ['contractual life ( in years )', '7.0', '7.0']]
.
|
what was the percent of decline in the expected volatility from 2013 to 2014
|
-4.84%
|
{
"answer": "-4.84%",
"decimal": -0.0484,
"type": "percentage"
}
|
the percent of decline in the expected volatility from 2013 to 2014 was 4.84%
|
interest rate derivatives .in connection with the issuance of floating rate debt in august and october 2008 , the company entered into three interest rate swap contracts , designated as cash flow hedges , for purposes of hedging against a change in interest payments due to fluctuations in the underlying benchmark rate .in december 2010 , the company approved a plan to refinance the term loan in january 2011 resulting in an $ 8.6 million loss on derivative instruments as a result of ineffectiveness on the associated interest rate swap contract .to mitigate counterparty credit risk , the interest rate swap contracts required collateralization by both counterparties for the swaps 2019 aggregate net fair value during their respective terms .collateral was maintained in the form of cash and adjusted on a daily basis .in february 2010 , the company entered into a forward starting interest rate swap contract , designated as a cash flow hedge , for purposes of hedging against a change in interest payments due to fluctuations in the underlying benchmark rate between the date of the swap and the forecasted issuance of fixed rate debt in march 2010 .the swap was highly effective .foreign currency derivatives .in connection with its purchase of bm&fbovespa stock in february 2008 , cme group purchased a put option to hedge against changes in the fair value of bm&fbovespa stock resulting from foreign currency rate fluctuations between the u.s .dollar and the brazilian real ( brl ) beyond the option 2019s exercise price .lehman brothers special financing inc .( lbsf ) was the sole counterparty to this option contract .on september 15 , 2008 , lehman brothers holdings inc .( lehman ) filed for protection under chapter 11 of the united states bankruptcy code .the bankruptcy filing of lehman was an event of default that gave the company the right to immediately terminate the put option agreement with lbsf .in march 2010 , the company recognized a $ 6.0 million gain on derivative instruments as a result of a settlement from the lehman bankruptcy proceedings .21 .capital stock shares outstanding .the following table presents information regarding capital stock: .
[['( in thousands )', 'december 31 , 2010', 'december 31 , 2009'], ['shares authorized', '1000000', '1000000'], ['class a common stock', '66847', '66511'], ['class b-1 common stock', '0.6', '0.6'], ['class b-2 common stock', '0.8', '0.8'], ['class b-3 common stock', '1.3', '1.3'], ['class b-4 common stock', '0.4', '0.4']]
cme group has no shares of preferred stock issued and outstanding .associated trading rights .members of cme , cbot , nymex and comex own or lease trading rights which entitle them to access the trading floors , discounts on trading fees and the right to vote on certain exchange matters as provided for by the rules of the particular exchange and cme group 2019s or the subsidiaries 2019 organizational documents .each class of cme group class b common stock is associated with a membership in a specific division for trading at cme .a cme trading right is a separate asset that is not part of or evidenced by the associated share of class b common stock of cme group .the class b common stock of cme group is intended only to ensure that the class b shareholders of cme group retain rights with respect to representation on the board of directors and approval rights with respect to the core rights described below .trading rights at cbot are evidenced by class b memberships in cbot , at nymex by class a memberships in nymex and at comex by comex division memberships in comex .members of the cbot , nymex and comex exchanges do not have any rights to elect members of the board of directors and are not entitled to receive dividends or other distributions on their memberships .the company is , however , required to have at least 10 cbot directors ( as defined by its bylaws ) until its 2012 annual meeting. .
|
what is the estimated percentual increase observed in the class a common stock during the years 2009 and 2010?
|
0.5%
|
{
"answer": "0.5%",
"decimal": 0.005,
"type": "percentage"
}
|
its the ratio between those two class a common stocks values during 2009 and 2010 .
|
customer demand .this compared with 555000 tons of total downtime in 2006 of which 150000 tons related to lack-of-orders .printing papers in millions 2007 2006 2005 .
[['in millions', '2007', '2006', '2005'], ['sales', '$ 6530', '$ 6700', '$ 6980'], ['operating profit', '$ 1101', '$ 636', '$ 434']]
north american printing papers net sales in 2007 were $ 3.5 billion compared with $ 4.4 billion in 2006 ( $ 3.5 billion excluding the coated and super- calendered papers business ) and $ 4.8 billion in 2005 ( $ 3.2 billion excluding the coated and super- calendered papers business ) .sales volumes decreased in 2007 versus 2006 partially due to reduced production capacity resulting from the conversion of the paper machine at the pensacola mill to the production of lightweight linerboard for our industrial packaging segment .average sales price realizations increased significantly , reflecting benefits from price increases announced throughout 2007 .lack-of-order downtime declined to 27000 tons in 2007 from 40000 tons in 2006 .operating earnings of $ 537 million in 2007 increased from $ 482 million in 2006 ( $ 407 million excluding the coated and supercalendered papers business ) and $ 175 million in 2005 ( $ 74 million excluding the coated and supercalendered papers business ) .the benefits from improved average sales price realizations more than offset the effects of higher input costs for wood , energy , and freight .mill operations were favorable compared with the prior year due to current-year improvements in machine performance and energy conservation efforts .sales volumes for the first quarter of 2008 are expected to increase slightly , and the mix of prod- ucts sold to improve .demand for printing papers in north america was steady as the quarter began .price increases for cut-size paper and roll stock have been announced that are expected to be effective principally late in the first quarter .planned mill maintenance outage costs should be about the same as in the fourth quarter ; however , raw material costs are expected to continue to increase , primarily for wood and energy .brazil ian papers net sales for 2007 of $ 850 mil- lion were higher than the $ 495 million in 2006 and the $ 465 million in 2005 .compared with 2006 , aver- age sales price realizations improved reflecting price increases for uncoated freesheet paper realized dur- ing the second half of 2006 and the first half of 2007 .excluding the impact of the luiz antonio acquisition , sales volumes increased primarily for cut size and offset paper .operating profits for 2007 of $ 246 mil- lion were up from $ 122 million in 2006 and $ 134 mil- lion in 2005 as the benefits from higher sales prices and favorable manufacturing costs were only parti- ally offset by higher input costs .contributions from the luiz antonio acquisition increased net sales by approximately $ 350 million and earnings by approx- imately $ 80 million in 2007 .entering 2008 , sales volumes for uncoated freesheet paper and pulp should be seasonally lower .average price realizations should be essentially flat , but mar- gins are expected to reflect a less favorable product mix .energy costs , primarily for hydroelectric power , are expected to increase significantly reflecting a lack of rainfall in brazil in the latter part of 2007 .european papers net sales in 2007 were $ 1.5 bil- lion compared with $ 1.3 billion in 2006 and $ 1.2 bil- lion in 2005 .sales volumes in 2007 were higher than in 2006 at our eastern european mills reflecting stronger market demand and improved efficiencies , but lower in western europe reflecting the closure of the marasquel mill in 2006 .average sales price real- izations increased significantly in 2007 in both east- ern and western european markets .operating profits of $ 214 million in 2007 increased from a loss of $ 16 million in 2006 and earnings of $ 88 million in 2005 .the loss in 2006 reflects the impact of a $ 128 million impairment charge to reduce the carrying value of the fixed assets at the saillat , france mill .excluding this charge , the improvement in 2007 compared with 2006 reflects the contribution from higher net sales , partially offset by higher input costs for wood , energy and freight .looking ahead to the first quarter of 2008 , sales volumes are expected to be stable in western europe , but seasonally weaker in eastern europe and russia .average price realizations are expected to remain about flat .wood costs are expected to increase , especially in russia due to strong demand ahead of tariff increases , and energy costs are anticipated to be seasonally higher .asian printing papers net sales were approx- imately $ 20 million in 2007 , compared with $ 15 mil- lion in 2006 and $ 10 million in 2005 .operating earnings increased slightly in 2007 , but were close to breakeven in all periods .u.s .market pulp sales in 2007 totaled $ 655 mil- lion compared with $ 510 million and $ 525 million in 2006 and 2005 , respectively .sales volumes in 2007 were up from 2006 levels , primarily for paper and .
|
what percent of printing papers sales in 2006 was from north american printing papers net sales?
|
66%
|
{
"answer": "66%",
"decimal": 0.66,
"type": "percentage"
}
| |
the company has also encountered various quality issues on its aircraft carrier construction and overhaul programs and its virginia-class submarine construction program at its newport news location .these primarily involve matters related to filler metal used in pipe welds identified in 2007 , and issues associated with non-nuclear weld inspection and the installation of weapons handling equipment on certain submarines , and certain purchased material quality issues identified in 2009 .the company does not believe that resolution of these issues will have a material effect upon its consolidated financial position , results of operations or cash flows .environmental matters 2014the estimated cost to complete environmental remediation has been accrued where it is probable that the company will incur such costs in the future to address environmental conditions at currently or formerly owned or leased operating facilities , or at sites where it has been named a potentially responsible party ( 201cprp 201d ) by the environmental protection agency , or similarly designated by another environmental agency , and these costs can be estimated by management .these accruals do not include any litigation costs related to environmental matters , nor do they include amounts recorded as asset retirement obligations .to assess the potential impact on the company 2019s consolidated financial statements , management estimates the range of reasonably possible remediation costs that could be incurred by the company , taking into account currently available facts on each site as well as the current state of technology and prior experience in remediating contaminated sites .these estimates are reviewed periodically and adjusted to reflect changes in facts and technical and legal circumstances .management estimates that as of december 31 , 2011 , the probable future costs for environmental remediation is $ 3 million , which is accrued in other current liabilities .factors that could result in changes to the company 2019s estimates include : modification of planned remedial actions , increases or decreases in the estimated time required to remediate , changes to the determination of legally responsible parties , discovery of more extensive contamination than anticipated , changes in laws and regulations affecting remediation requirements , and improvements in remediation technology .should other prps not pay their allocable share of remediation costs , the company may have to incur costs exceeding those already estimated and accrued .in addition , there are certain potential remediation sites where the costs of remediation cannot be reasonably estimated .although management cannot predict whether new information gained as projects progress will materially affect the estimated liability accrued , management does not believe that future remediation expenditures will have a material effect on the company 2019s consolidated financial position , results of operations or cash flows .financial arrangements 2014in the ordinary course of business , hii uses standby letters of credit issued by commercial banks and surety bonds issued by insurance companies principally to support the company 2019s self-insured workers 2019 compensation plans .at december 31 , 2011 , there were $ 121 million of standby letters of credit issued but undrawn and $ 297 million of surety bonds outstanding related to hii .u.s .government claims 2014from time to time , the u.s .government advises the company of claims and penalties concerning certain potential disallowed costs .when such findings are presented , the company and u.s .government representatives engage in discussions to enable hii to evaluate the merits of these claims as well as to assess the amounts being claimed .the company does not believe that the outcome of any such matters will have a material effect on its consolidated financial position , results of operations or cash flows .collective bargaining agreements 2014the company believes that it maintains good relations with its approximately 38000 employees of which approximately 50% ( 50 % ) are covered by a total of 10 collective bargaining agreements .the company expects to renegotiate renewals of each of its collective bargaining agreements between 2013 and 2015 as they approach expiration .collective bargaining agreements generally expire after three to five years and are subject to renegotiation at that time .it is not expected that the results of these negotiations , either individually or in the aggregate , will have a material effect on the company 2019s consolidated results of operations .operating leases 2014rental expense for operating leases was $ 44 million in 2011 , $ 44 million in 2010 , and $ 48 million in 2009 .these amounts are net of immaterial amounts of sublease rental income .minimum rental commitments under long- term non-cancellable operating leases for the next five years and thereafter are : ( $ in millions ) .
[['2012', '$ 21'], ['2013', '17'], ['2014', '15'], ['2015', '13'], ['2016', '10'], ['thereafter', '48'], ['total', '$ 124']]
.
|
what is the percentage change in rent expenses for operating leases in 2010 compare to 2009?
|
-8.3%
|
{
"answer": "-8.3%",
"decimal": -0.083,
"type": "percentage"
}
| |
note 3 .business combinations purchase combinations .during the fiscal years presented , the company made a number of purchase acquisitions .for each acquisition , the excess of the purchase price over the estimated value of the net tangible assets acquired was allocated to various intangible assets , consisting primarily of developed technology , customer and contract-related assets and goodwill .the values assigned to developed technologies related to each acquisition were based upon future discounted cash flows related to the existing products 2019 projected income streams .goodwill , representing the excess of the purchase consideration over the fair value of tangible and identifiable intangible assets acquired in the acquisitions , will not to be amortized .goodwill is not deductible for tax purposes .the amounts allocated to purchased in-process research and developments were determined through established valuation techniques in the high-technology industry and were expensed upon acquisition because technological feasibility had not been established and no future alternative uses existed .the consolidated financial statements include the operating results of each business from the date of acquisition .the company does not consider these acquisitions to be material to its results of operations and is therefore not presenting pro forma statements of operations for the fiscal years ended october 31 , 2006 , 2005 and 2004 .fiscal 2006 acquisitions sigma-c software ag ( sigma-c ) the company acquired sigma-c on august 16 , 2006 in an all-cash transaction .reasons for the acquisition .sigma-c provides simulation software that allows semiconductor manufacturers and their suppliers to develop and optimize process sequences for optical lithography , e-beam lithography and next-generation lithography technologies .the company believes the acquisition will enable a tighter integration between design and manufacturing tools , allowing the company 2019s customers to perform more accurate design layout analysis with 3d lithography simulation and better understand issues that affect ic wafer yields .purchase price .the company paid $ 20.5 million in cash for the outstanding shares and shareholder notes of which $ 2.05 million was deposited with an escrow agent and will be paid per the escrow agreement .the company believes that the escrow amount will be paid .the total purchase consideration consisted of: .
[['', '( in thousands )'], ['cash paid', '$ 20500'], ['acquisition-related costs', '2053'], ['total purchase price', '$ 22553']]
acquisition-related costs of $ 2.1 million consist primarily of legal , tax and accounting fees , estimated facilities closure costs and employee termination costs .as of october 31 , 2006 , the company had paid $ 0.9 million of the acquisition-related costs .the $ 1.2 million balance remaining at october 31 , 2006 primarily consists of legal , tax and accounting fees , estimated facilities closure costs and employee termination costs .assets acquired .the company performed a preliminary valuation and allocated the total purchase consideration to assets and liabilities .the company acquired $ 6.0 million of intangible assets consisting of $ 3.9 million in existing technology , $ 1.9 million in customer relationships and $ 0.2 million in trade names to be amortized over five years .the company also acquired assets of $ 3.9 million and assumed liabilities of $ 5.1 million as result of this transaction .goodwill , representing the excess of the purchase price over the .
|
what percentage of the total purchase price was intangible assets?
|
27%
|
{
"answer": "27%",
"decimal": 0.27,
"type": "percentage"
}
| |
the net decrease in the 2016 effective tax rate was due , in part , to the 2016 asset impairments in the u.s .and to the current year benefit related to a restructuring of one of our brazilian businesses that increases tax basis in long-term assets .further , the 2015 rate was impacted by the items described below .see note 20 2014asset impairment expense for additional information regarding the 2016 u.s .asset impairments .income tax expense increased $ 101 million , or 27% ( 27 % ) , to $ 472 million in 2015 .the company's effective tax rates were 41% ( 41 % ) and 26% ( 26 % ) for the years ended december 31 , 2015 and 2014 , respectively .the net increase in the 2015 effective tax rate was due , in part , to the nondeductible 2015 impairment of goodwill at our u.s .utility , dp&l and chilean withholding taxes offset by the release of valuation allowance at certain of our businesses in brazil , vietnam and the u.s .further , the 2014 rate was impacted by the sale of approximately 45% ( 45 % ) of the company 2019s interest in masin aes pte ltd. , which owns the company 2019s business interests in the philippines and the 2014 sale of the company 2019s interests in four u.k .wind operating projects .neither of these transactions gave rise to income tax expense .see note 15 2014equity for additional information regarding the sale of approximately 45% ( 45 % ) of the company 2019s interest in masin-aes pte ltd .see note 23 2014dispositions for additional information regarding the sale of the company 2019s interests in four u.k .wind operating projects .our effective tax rate reflects the tax effect of significant operations outside the u.s. , which are generally taxed at rates lower than the u.s .statutory rate of 35% ( 35 % ) .a future proportionate change in the composition of income before income taxes from foreign and domestic tax jurisdictions could impact our periodic effective tax rate .the company also benefits from reduced tax rates in certain countries as a result of satisfying specific commitments regarding employment and capital investment .see note 21 2014income taxes for additional information regarding these reduced rates .foreign currency transaction gains ( losses ) foreign currency transaction gains ( losses ) in millions were as follows: .
[['years ended december 31,', '2016', '2015', '2014'], ['aes corporation', '$ -50 ( 50 )', '$ -31 ( 31 )', '$ -34 ( 34 )'], ['chile', '-9 ( 9 )', '-18 ( 18 )', '-30 ( 30 )'], ['colombia', '-8 ( 8 )', '29', '17'], ['mexico', '-8 ( 8 )', '-6 ( 6 )', '-14 ( 14 )'], ['philippines', '12', '8', '11'], ['united kingdom', '13', '11', '12'], ['argentina', '37', '124', '66'], ['other', '-2 ( 2 )', '-10 ( 10 )', '-17 ( 17 )'], ['total ( 1 )', '$ -15 ( 15 )', '$ 107', '$ 11']]
total ( 1 ) $ ( 15 ) $ 107 $ 11 _____________________________ ( 1 ) includes gains of $ 17 million , $ 247 million and $ 172 million on foreign currency derivative contracts for the years ended december 31 , 2016 , 2015 and 2014 , respectively .the company recognized a net foreign currency transaction loss of $ 15 million for the year ended december 31 , 2016 primarily due to losses of $ 50 million at the aes corporation mainly due to remeasurement losses on intercompany notes , and losses on swaps and options .this loss was partially offset by gains of $ 37 million in argentina , mainly due to the favorable impact of foreign currency derivatives related to government receivables .the company recognized a net foreign currency transaction gain of $ 107 million for the year ended december 31 , 2015 primarily due to gains of : 2022 $ 124 million in argentina , due to the favorable impact from foreign currency derivatives related to government receivables , partially offset by losses from the devaluation of the argentine peso associated with u.s .dollar denominated debt , and losses at termoandes ( a u.s .dollar functional currency subsidiary ) primarily associated with cash and accounts receivable balances in local currency , 2022 $ 29 million in colombia , mainly due to the depreciation of the colombian peso , positively impacting chivor ( a u.s .dollar functional currency subsidiary ) due to liabilities denominated in colombian pesos , 2022 $ 11 million in the united kingdom , mainly due to the depreciation of the pound sterling , resulting in gains at ballylumford holdings ( a u.s .dollar functional currency subsidiary ) associated with intercompany notes payable denominated in pound sterling , and .
|
what was the average effective tax rate for december 31 , 2015 and 2014?
|
33.5
|
{
"answer": "33.5",
"decimal": 33.5,
"type": "float"
}
| |
asset category target allocation total quoted prices in active markets for identical assets ( level 1 ) significant observable inputs ( level 2 ) significant unobservable inputs .
[['', 'level 3'], ['balance as of january 1 2018', '$ 278'], ['actual return on assets', '-23 ( 23 )'], ['purchases issuances and settlements net', '-25 ( 25 )'], ['balance as of december 31 2018', '$ 230']]
balance as of january 1 , 2017 .........................................................$ 140 actual return on assets ..........................................................2 purchases , issuances and settlements , net ............................................136 balance as of december 31 , 2017 ......................................................$ 278 the company 2019s postretirement benefit plans have different levels of funded status and the assets are held under various trusts .the investments and risk mitigation strategies for the plans are tailored specifically for each trust .in setting new strategic asset mixes , consideration is given to the likelihood that the selected asset allocation will effectively fund the projected plan liabilities and meet the risk tolerance criteria of the company .the company periodically updates the long-term , strategic asset allocations for these plans through asset liability studies and uses various analytics to determine the optimal asset allocation .considerations include plan liability characteristics , liquidity needs , funding requirements , expected rates of return and the distribution of returns .in 2012 , the company implemented a de-risking strategy for the american water pension plan after conducting an asset-liability study to reduce the volatility of the funded status of the plan .as part of the de-risking strategy , the company revised the asset allocations to increase the matching characteristics of fixed- income assets relative to liabilities .the fixed income portion of the portfolio was designed to match the bond- .
|
by what percentage level 3 balance increase from 2017 to 2018?
|
64.3%
|
{
"answer": "64.3%",
"decimal": 0.643,
"type": "percentage"
}
| |
acquisition date ) .realex is a leading european online payment gateway technology provider .this acquisition furthered our strategy to provide omnichannel solutions that combine gateway services , payment service provisioning and payment technology services across europe .this transaction was accounted for as a business combination .we recorded the assets acquired , liabilities assumed and noncontrolling interest at their estimated fair values as of the acquisition date .on october 5 , 2015 , we paid 20ac6.7 million ( $ 7.5 million equivalent as of october 5 , 2015 ) to acquire the remaining shares of realex , after which we own 100% ( 100 % ) of the outstanding shares .the estimated acquisition date fair values of the assets acquired , liabilities assumed and the noncontrolling interest , including a reconciliation to the total purchase consideration , are as follows ( in thousands ) : .
[['cash', '$ 4082'], ['customer-related intangible assets', '16079'], ['acquired technology', '39820'], ['trade name', '3453'], ['other intangible assets', '399'], ['other assets', '6213'], ['liabilities', '-3479 ( 3479 )'], ['deferred income tax liabilities', '-7216 ( 7216 )'], ['total identifiable net assets', '59351'], ['goodwill', '66809'], ['noncontrolling interest', '-7280 ( 7280 )'], ['total purchase consideration', '$ 118880']]
goodwill of $ 66.8 million arising from the acquisition , included in the europe segment , was attributable to expected growth opportunities in europe , potential synergies from combining our existing business with gateway services and payment service provisioning in certain markets and an assembled workforce to support the newly acquired technology .goodwill associated with this acquisition is not deductible for income tax purposes .the customer-related intangible assets have an estimated amortization period of 16 years .the acquired technology has an estimated amortization of 10 years .the trade name has an estimated amortization period of 7 years .ezidebit on october 10 , 2014 , we completed the acquisition of 100% ( 100 % ) of the outstanding stock of ezi holdings pty ltd ( 201cezidebit 201d ) for aud302.6 million in cash ( $ 266.0 million equivalent as of the acquisition date ) .this acquisition was funded by a combination of cash on hand and borrowings on our revolving credit facility .ezidebit is a leading integrated payments company focused on recurring payments verticals in australia and new zealand .the acquisition of ezidebit further enhanced our existing integrated solutions offerings .this transaction was accounted for as a business combination .we recorded the assets acquired and liabilities assumed at their estimated fair values as of the acquisition date .76 2013 global payments inc .| 2017 form 10-k annual report .
|
what percentage of the total purchase consideration did goodwill represent?
|
57%
|
{
"answer": "57%",
"decimal": 0.57,
"type": "percentage"
}
| |
performance graph the annual changes for the period shown december 1 , 2013 ( when our ordinary shares began trading ) to december 31 , 2017 in the graph on this page are based on the assumption that $ 100 had been invested in allegion plc ordinary shares , the standard & poor 2019s 500 stock index ( "s&p 500" ) and the standard & poor's 400 capital goods index ( "s&p 400 capital goods" ) on december 1 , 2013 , and that all quarterly dividends were reinvested .the total cumulative dollar returns shown on the graph represent the value that such investments would have had on december 31 , 2017 .december 1 , december 31 , december 31 , december 31 , december 31 , december 31 .
[['', 'december 1 2013', 'december 31 2013', 'december 31 2014', 'december 31 2015', 'december 31 2016', 'december 31 2017'], ['allegion plc', '100.00', '102.20', '129.03', '154.37', '150.97', '189.19'], ['s&p 500', '100.00', '102.53', '116.57', '118.18', '132.31', '161.20'], ['s&p 400 capital goods', '100.00', '104.58', '104.84', '99.07', '130.70', '162.97']]
.
|
considering the final year of the investment , what was the highest return for the initial 100$ ?
|
89.19
|
{
"answer": "89.19",
"decimal": 89.19,
"type": "float"
}
|
it is the maximum value of the investment's final year .
|
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 due in 2009?
|
9%
|
{
"answer": "9%",
"decimal": 0.09,
"type": "percentage"
}
| |
changes in proved undeveloped reserves as of december 31 , 2013 , 627 mmboe of proved undeveloped reserves were reported , an increase of 56 mmboe from december 31 , 2012 .the following table shows changes in total proved undeveloped reserves for 2013 : ( mmboe ) .
[['beginning of year', '571'], ['revisions of previous estimates', '4'], ['improved recovery', '7'], ['purchases of reserves in place', '16'], ['extensions discoveries and other additions', '142'], ['dispositions', '-4 ( 4 )'], ['transfer to proved developed', '-109 ( 109 )'], ['end of year', '627']]
significant additions to proved undeveloped reserves during 2013 included 72 mmboe in the eagle ford and 49 mmboe in the bakken shale plays due to development drilling .transfers from proved undeveloped to proved developed reserves included 57 mmboe in the eagle ford , 18 mmboe in the bakken and 7 mmboe in the oklahoma resource basins due to producing wells .costs incurred in 2013 , 2012 and 2011 relating to the development of proved undeveloped reserves , were $ 2536 million , $ 1995 million and $ 1107 million .a total of 59 mmboe was booked as a result of reliable technology .technologies included statistical analysis of production performance , decline curve analysis , rate transient analysis , reservoir simulation and volumetric analysis .the statistical nature of production performance coupled with highly certain reservoir continuity or quality within the reliable technology areas and sufficient proved undeveloped locations establish the reasonable certainty criteria required for booking reserves .projects can remain in proved undeveloped reserves for extended periods in certain situations such as large development projects which take more than five years to complete , or the timing of when additional gas compression is needed .of the 627 mmboe of proved undeveloped reserves at december 31 , 2013 , 24 percent of the volume is associated with projects that have been included in proved reserves for more than five years .the majority of this volume is related to a compression project in e.g .that was sanctioned by our board of directors in 2004 .the timing of the installation of compression is being driven by the reservoir performance with this project intended to maintain maximum production levels .performance of this field since the board sanctioned the project has far exceeded expectations .estimates of initial dry gas in place increased by roughly 10 percent between 2004 and 2010 .during 2012 , the compression project received the approval of the e.g .government , allowing design and planning work to progress towards implementation , with completion expected by mid-2016 .the other component of alba proved undeveloped reserves is an infill well approved in 2013 and to be drilled late 2014 .proved undeveloped reserves for the north gialo development , located in the libyan sahara desert , were booked for the first time as proved undeveloped reserves in 2010 .this development , which is anticipated to take more than five years to be developed , is being executed by the operator and encompasses a continuous drilling program including the design , fabrication and installation of extensive liquid handling and gas recycling facilities .anecdotal evidence from similar development projects in the region led to an expected project execution of more than five years from the time the reserves were initially booked .interruptions associated with the civil unrest in 2011 and third-party labor strikes in 2013 have extended the project duration .there are no other significant undeveloped reserves expected to be developed more than five years after their original booking .as of december 31 , 2013 , future development costs estimated to be required for the development of proved undeveloped liquid hydrocarbon , natural gas and synthetic crude oil reserves related to continuing operations for the years 2014 through 2018 are projected to be $ 2894 million , $ 2567 million , $ 2020 million , $ 1452 million and $ 575 million .the timing of future projects and estimated future development costs relating to the development of proved undeveloped liquid hydrocarbon , natural gas and synthetic crude oil reserves are forward-looking statements and are based on a number of assumptions , including ( among others ) commodity prices , presently known physical data concerning size and character of the reservoirs , economic recoverability , technology developments , future drilling success , industry economic conditions , levels of cash flow from operations , production experience and other operating considerations .to the extent these assumptions prove inaccurate , actual recoveries , timing and development costs could be different than current estimates. .
|
by how much did total proved undeveloped reserves increase during 2013?
|
9.8%
|
{
"answer": "9.8%",
"decimal": 0.098,
"type": "percentage"
}
| |
technical and research personnel and lab facilities , and significantly expanded the portfolio of patents available to us via license and through a cooperative development program .in addition , we have acquired a 20 percent interest in grt , inc .the gtftm technology is protected by an intellectual property protection program .the u.s .has granted 17 patents for the technology , with another 22 pending .worldwide , there are over 300 patents issued or pending , covering over 100 countries including regional and direct foreign filings .another innovative technology that we are developing focuses on reducing the processing and transportation costs of natural gas by artificially creating natural gas hydrates , which are more easily transportable than natural gas in its gaseous form .much like lng , gas hydrates would then be regasified upon delivery to the receiving market .we have an active pilot program in place to test and further develop a proprietary natural gas hydrates manufacturing system .the above discussion of the integrated gas segment contains forward-looking statements with respect to the possible expansion of the lng production facility .factors that could potentially affect the possible expansion of the lng production facility include partner and government approvals , access to sufficient natural gas volumes through exploration or commercial negotiations with other resource owners and access to sufficient regasification capacity .the foregoing factors ( among others ) could cause actual results to differ materially from those set forth in the forward-looking statements .refining , marketing and transportation we have refining , marketing and transportation operations concentrated primarily in the midwest , upper great plains , gulf coast and southeast regions of the u.s .we rank as the fifth largest crude oil refiner in the u.s .and the largest in the midwest .our operations include a seven-plant refining network and an integrated terminal and transportation system which supplies wholesale and marathon-brand customers as well as our own retail operations .our wholly-owned retail marketing subsidiary speedway superamerica llc ( 201cssa 201d ) is the third largest chain of company-owned and -operated retail gasoline and convenience stores in the u.s .and the largest in the midwest .refining we own and operate seven refineries with an aggregate refining capacity of 1.188 million barrels per day ( 201cmmbpd 201d ) of crude oil as of december 31 , 2009 .during 2009 , our refineries processed 957 mbpd of crude oil and 196 mbpd of other charge and blend stocks .the table below sets forth the location and daily crude oil refining capacity of each of our refineries as of december 31 , 2009 .crude oil refining capacity ( thousands of barrels per day ) 2009 .
[['( thousands of barrels per day )', '2009'], ['garyville louisiana', '436'], ['catlettsburg kentucky', '212'], ['robinson illinois', '206'], ['detroit michigan', '106'], ['canton ohio', '78'], ['texas city texas', '76'], ['st . paul park minnesota', '74'], ['total', '1188']]
our refineries include crude oil atmospheric and vacuum distillation , fluid catalytic cracking , catalytic reforming , desulfurization and sulfur recovery units .the refineries process a wide variety of crude oils and produce numerous refined products , ranging from transportation fuels , such as reformulated gasolines , blend- grade gasolines intended for blending with fuel ethanol and ultra-low sulfur diesel fuel , to heavy fuel oil and asphalt .additionally , we manufacture aromatics , cumene , propane , propylene , sulfur and maleic anhydride .our garyville , louisiana , refinery is located along the mississippi river in southeastern louisiana between new orleans and baton rouge .the garyville refinery predominantly processes heavy sour crude oil into products .
|
what percentage of crude oil refining capacity is located in garyville louisiana?
|
36.7%
|
{
"answer": "36.7%",
"decimal": 0.36700000000000005,
"type": "percentage"
}
| |
item 2 : properties information concerning applied 2019s properties is set forth below: .
[['( square feet in thousands )', 'united states', 'other countries', 'total'], ['owned', '3964', '1652', '5616'], ['leased', '845', '1153', '1998'], ['total', '4809', '2805', '7614']]
because of the interrelation of applied 2019s operations , properties within a country may be shared by the segments operating within that country .the company 2019s headquarters offices are in santa clara , california .products in semiconductor systems are manufactured in santa clara , california ; austin , texas ; gloucester , massachusetts ; kalispell , montana ; rehovot , israel ; and singapore .remanufactured equipment products in the applied global services segment are produced primarily in austin , texas .products in the display and adjacent markets segment are manufactured in alzenau , germany ; and tainan , taiwan .other products are manufactured in treviso , italy .applied also owns and leases offices , plants and warehouse locations in many locations throughout the world , including in europe , japan , north america ( principally the united states ) , israel , china , india , korea , southeast asia and taiwan .these facilities are principally used for manufacturing ; research , development and engineering ; and marketing , sales and customer support .applied also owns a total of approximately 269 acres of buildable land in montana , texas , california , israel and italy that could accommodate additional building space .applied considers the properties that it owns or leases as adequate to meet its current and future requirements .applied regularly assesses the size , capability and location of its global infrastructure and periodically makes adjustments based on these assessments. .
|
how much square feet could the company use to build properies ? ( 1 acre = 43560 square feet )
|
1.1 million square feet
|
{
"answer": "1.1 million square feet",
"decimal": 1100000,
"type": "open_ended_answer"
}
|
the company is able to build properties on the 269 acres that are owned by the company . that is 1.1 million square feet which is calculated by multiplying the number of acres by the conversion of square feet .
|
amounts due from related parties at december a031 , 2010 and 2009 con- sisted of the following ( in thousands ) : .
[['', '2010', '2009'], ['due from joint ventures', '$ 1062', '$ 228'], ['officers and employees', '2014', '153'], ['other', '5233', '8189'], ['related party receivables', '$ 6295', '$ 8570']]
gramercy capital corp .see note a0 6 , 201cinvestment in unconsolidated joint ventures 2014gramercy capital corp. , 201d for disclosure on related party transactions between gramercy and the company .13 2002equit y common stock our authorized capital stock consists of 260000000 shares , $ .01 par value , of which we have authorized the issuance of up to 160000000 shares of common stock , $ .01 par value per share , 75000000 shares of excess stock , $ .01 par value per share , and 25000000 shares of preferred stock , $ .01 par value per share .as of december a031 , 2010 , 78306702 shares of common stock and no shares of excess stock were issued and outstanding .in may 2009 , we sold 19550000 shares of our common stock at a gross price of $ 20.75 per share .the net proceeds from this offer- ing ( approximately $ 387.1 a0 million ) were primarily used to repurchase unsecured debt .perpetual preferred stock in january 2010 , we sold 5400000 shares of our series a0c preferred stock in an underwritten public offering .as a result of this offering , we have 11700000 shares of the series a0 c preferred stock outstanding .the shares of series a0c preferred stock have a liquidation preference of $ 25.00 per share and are redeemable at par , plus accrued and unpaid dividends , at any time at our option .the shares were priced at $ 23.53 per share including accrued dividends equating to a yield of 8.101% ( 8.101 % ) .we used the net offering proceeds of approximately $ 122.0 a0million for gen- eral corporate and/or working capital purposes , including purchases of the indebtedness of our subsidiaries and investment opportunities .in december 2003 , we sold 6300000 shares of our 7.625% ( 7.625 % ) series a0 c preferred stock , ( including the underwriters 2019 over-allotment option of 700000 shares ) with a mandatory liquidation preference of $ 25.00 per share .net proceeds from this offering ( approximately $ 152.0 a0 million ) were used principally to repay amounts outstanding under our secured and unsecured revolving credit facilities .the series a0c preferred stockholders receive annual dividends of $ 1.90625 per share paid on a quarterly basis and dividends are cumulative , subject to cer- tain provisions .since december a0 12 , 2008 , we have been entitled to redeem the series a0c preferred stock at par for cash at our option .the series a0c preferred stock was recorded net of underwriters discount and issuance costs .12 2002related part y transactions cleaning/securit y/messenger and restoration services through al l iance bui lding services , or al l iance , first qual i t y maintenance , a0l.p. , or first quality , provides cleaning , extermination and related services , classic security a0llc provides security services , bright star couriers a0llc provides messenger services , and onyx restoration works provides restoration services with respect to certain proper- ties owned by us .alliance is partially owned by gary green , a son of stephen a0l .green , the chairman of our board of directors .in addition , first quality has the non-exclusive opportunity to provide cleaning and related services to individual tenants at our properties on a basis sepa- rately negotiated with any tenant seeking such additional services .the service corp .has entered into an arrangement with alliance whereby it will receive a profit participation above a certain threshold for services provided by alliance to certain tenants at certain buildings above the base services specified in their lease agreements .alliance paid the service corporation approximately $ 2.2 a0million , $ 1.8 a0million and $ 1.4 a0million for the years ended december a031 , 2010 , 2009 and 2008 , respectively .we paid alliance approximately $ 14.2 a0million , $ 14.9 a0million and $ 15.1 a0million for three years ended december a031 , 2010 , respectively , for these ser- vices ( excluding services provided directly to tenants ) .leases nancy peck and company leases 1003 square feet of space at 420 lexington avenue under a lease that ends in august 2015 .nancy peck and company is owned by nancy peck , the wife of stephen a0l .green .the rent due pursuant to the lease is $ 35516 per annum for year one increas- ing to $ 40000 in year seven .from february 2007 through december 2008 , nancy peck and company leased 507 square feet of space at 420 a0 lexington avenue pursuant to a lease which provided for annual rental payments of approximately $ 15210 .brokerage services cushman a0 & wakefield sonnenblick-goldman , a0 llc , or sonnenblick , a nationally recognized real estate investment banking firm , provided mortgage brokerage services to us .mr . a0 morton holliday , the father of mr . a0 marc holliday , was a managing director of sonnenblick at the time of the financings .in 2009 , we paid approximately $ 428000 to sonnenblick in connection with the purchase of a sub-leasehold interest and the refinancing of 420 lexington avenue .management fees s.l .green management corp. , a consolidated entity , receives property management fees from an entity in which stephen a0l .green owns an inter- est .the aggregate amount of fees paid to s.l .green management corp .from such entity was approximately $ 390700 in 2010 , $ 351700 in 2009 and $ 353500 in 2008 .notes to consolidated financial statements .
|
what was the total paid to alliance from 2008-2010 , in millions?
|
44.2
|
{
"answer": "44.2",
"decimal": 44.2,
"type": "float"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) pro forma disclosure 2014the company has adopted the disclosure-only provisions of sfas no .123 , as amended by sfas no .148 , and has presented such disclosure in note 1 .the 201cfair value 201d of each option grant is estimated on the date of grant using the black-scholes option pricing model .the weighted average fair values of the company 2019s options granted during 2004 , 2003 and 2002 were $ 7.05 , $ 6.32 , and $ 2.23 per share , respectively .key assumptions used to apply this pricing model are as follows: .
[['', '2004', '2003', '2002'], ['approximate risk-free interest rate', '4.23% ( 4.23 % )', '4.00% ( 4.00 % )', '4.53% ( 4.53 % )'], ['expected life of option grants', '4 years', '4 years', '5 years'], ['expected volatility of underlying stock ( the company plan )', '80.6% ( 80.6 % )', '86.6% ( 86.6 % )', '92.3% ( 92.3 % )'], ['expected volatility of underlying stock ( atc mexico and atc south america plans )', 'n/a', 'n/a', 'n/a'], ['expected dividends', 'n/a', 'n/a', 'n/a']]
voluntary option exchanges 2014in february 2004 , the company issued to eligible employees 1032717 options with an exercise price of $ 11.19 per share , the fair market value of the class a common stock on the date of grant .these options were issued in connection with a voluntary option exchange program entered into by the company in august 2003 , where the company accepted for surrender and cancelled options ( having an exercise price of $ 10.25 or greater ) to purchase 1831981 shares of its class a common stock .the program , which was offered to both full and part-time employees , excluding the company 2019s executive officers and its directors , called for the grant ( at least six months and one day from the surrender date to employees still employed on that date ) of new options exercisable for two shares of class a common stock for every three shares of class a common stock issuable upon exercise of a surrendered option .no options were granted to any employees who participated in the exchange offer between the cancellation date and the new grant date .in may 2002 , the company issued to eligible employees 2027612 options with an exercise price of $ 3.84 per share , the fair market value of the class a common stock on the date of grant .these options were issued in connection with a voluntary option exchange program entered into by the company in october 2001 , where the company accepted for surrender and cancelled options to purchase 3471211 shares of its class a common stock .the program , which was offered to both full and part-time employees , excluding most of the company 2019s executive officers , called for the grant ( at least six months and one day from the surrender date to employees still employed on that date ) of new options exercisable for two shares of class a common stock for every three shares of class a common stock issuable upon exercise of a surrendered option .no options were granted to any employees who participated in the exchange offer between the cancellation date and the new grant date .atc mexico holding stock option plan 2014the company maintains a stock option plan in its atc mexico subsidiary ( atc mexico plan ) .the atc mexico plan provides for the issuance of options to officers , employees , directors and consultants of atc mexico .the atc mexico plan limits the number of shares of common stock which may be granted to an aggregate of 360 shares , subject to adjustment based on changes in atc mexico 2019s capital structure .during 2002 , atc mexico granted options to purchase 318 shares of atc mexico common stock to officers and employees .such options were issued at one time with an exercise price of $ 10000 per share .the exercise price per share was at fair market value as determined by the board of directors with the assistance of an independent appraisal performed at the company 2019s request .the fair value of atc mexico plan options granted during 2002 were $ 3611 per share as determined by using the black-scholes option pricing model .as described in note 10 , all outstanding options were exercised in march 2004 .no options under the atc mexico plan were granted in 2004 or 2003 , or exercised or cancelled in 2003 or 2002 , and no options were exercisable as of december 31 , 2003 or 2002 .( see note 10. ) .
|
what is the growth rate in weighted average fair values of the company 2019s options granted from 2003 to 2004?
|
11.6%
|
{
"answer": "11.6%",
"decimal": 0.11599999999999999,
"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 portion of the operating leases are due in the next 12 months?
|
33.5%
|
{
"answer": "33.5%",
"decimal": 0.335,
"type": "percentage"
}
| |
proceeds from the sale of equity securities .from time to time , we raise funds through public offerings of our equity securities .in addition , we receive proceeds from sales of our equity securities pursuant to our stock option and stock purchase plans .for the year ended december 31 , 2004 , we received approximately $ 40.6 million in proceeds from sales of shares of our class a common stock and the common stock of atc mexico pursuant to our stock option and stock purchase plans .financing activities during the year ended december 31 , 2004 , we took several actions to increase our financial flexibility and reduce our interest costs .new credit facility .in may 2004 , we refinanced our previous credit facility with a new $ 1.1 billion senior secured credit facility .at closing , we received $ 685.5 million of net proceeds from the borrowings under the new facility , after deducting related expenses and fees , approximately $ 670.0 million of which we used to repay principal and interest under the previous credit facility .we used the remaining net proceeds of $ 15.5 million for general corporate purposes , including the repurchase of other outstanding debt securities .the new credit facility consists of the following : 2022 $ 400.0 million in undrawn revolving loan commitments , against which approximately $ 19.3 million of undrawn letters of credit were outstanding at december 31 , 2004 , maturing on february 28 , 2011 ; 2022 a $ 300.0 million term loan a , which is fully drawn , maturing on february 28 , 2011 ; and 2022 a $ 398.0 million term loan b , which is fully drawn , maturing on august 31 , 2011 .the new credit facility extends the previous credit facility maturity dates from 2007 to 2011 for a majority of the borrowings outstanding , subject to earlier maturity upon the occurrence of certain events described below , and allows us to use credit facility borrowings and internally generated funds to repurchase other indebtedness without additional lender approval .the new credit facility is guaranteed by us and is secured by a pledge of substantially all of our assets .the maturity date for term loan a and any outstanding revolving loans will be accelerated to august 15 , 2008 , and the maturity date for term loan b will be accelerated to october 31 , 2008 , if ( 1 ) on or prior to august 1 , 2008 , our 93 20448% ( 20448 % ) senior notes have not been ( a ) refinanced with parent company indebtedness having a maturity date of february 28 , 2012 or later or with loans under the new credit facility , or ( b ) repaid , prepaid , redeemed , repurchased or otherwise retired , and ( 2 ) our consolidated leverage ratio ( total parent company debt to annualized operating cash flow ) at june 30 , 2008 is greater than 4.50 to 1.00 .if this were to occur , the payments due in 2008 for term loan a and term loan b would be $ 225.0 million and $ 386.0 million , respectively .note offerings .during 2004 , we raised approximately $ 1.1 billion in net proceeds from the sale of debt securities through institutional private placements as follows ( in millions ) : debt security date of offering principal amount approximate net proceeds .
[['debt security', 'date of offering', 'principal amount', 'approximate net proceeds'], ['7.50% ( 7.50 % ) senior notes due 2012', 'february 2004', '$ 225.0', '$ 221.7'], ['3.00% ( 3.00 % ) convertible notes due august 15 2012', 'august 2004', '345.0', '335.9'], ['7.125% ( 7.125 % ) senior notes due 2012', 'october 2004', '300.0', '292.8'], ['7.125% ( 7.125 % ) senior notes due 2012', 'december 2004', '200.0', '199.8'], ['total', '', '$ 1070.0', '$ 1050.2']]
2022 7.50% ( 7.50 % ) senior notes offering .in february 2004 , we sold $ 225.0 million principal amount of our 7.50% ( 7.50 % ) senior notes due 2012 through an institutional private placement .the 7.50% ( 7.50 % ) senior notes mature on may 1 , 2012 , and interest is payable semiannually in arrears on may 1 and november 1 of each year. .
|
what is the annual interest expense related to the 3.00% ( 3.00 % ) convertible notes , in millions?
|
10.4
|
{
"answer": "10.4",
"decimal": 10.4,
"type": "float"
}
| |
table of contents ( 2 ) includes capitalized lease obligations of $ 3.2 million and $ 0.1 million as of december 31 , 2015 and 2014 , respectively , which are included in other liabilities on the consolidated balance sheet .( 3 ) ebitda is defined as consolidated net income before interest expense , income tax expense , depreciation and amortization .adjusted ebitda , which is a measure defined in our credit agreements , means ebitda adjusted for certain items which are described in the table below .we have included a reconciliation of ebitda and adjusted ebitda in the table below .both ebitda and adjusted ebitda are considered non-gaap financial measures .generally , a non-gaap financial measure is a numerical measure of a company 2019s performance , financial position or cash flows that either excludes or includes amounts that are not normally included or excluded in the most directly comparable measure calculated and presented in accordance with gaap .non-gaap measures used by us may differ from similar measures used by other companies , even when similar terms are used to identify such measures .we believe that ebitda and adjusted ebitda provide helpful information with respect to our operating performance and cash flows including our ability to meet our future debt service , capital expenditures and working capital requirements .adjusted ebitda is also the primary measure used in certain key covenants and definitions contained in the credit agreement governing our senior secured term loan facility ( 201cterm loan 201d ) , including the excess cash flow payment provision , the restricted payment covenant and the net leverage ratio .these covenants and definitions are material components of the term loan as they are used in determining the interest rate applicable to the term loan , our ability to make certain investments , incur additional debt , and make restricted payments , such as dividends and share repurchases , as well as whether we are required to make additional principal prepayments on the term loan beyond the quarterly amortization payments .for further details regarding the term loan , see note 8 ( long-term debt ) to the accompanying consolidated financial statements .the following unaudited table sets forth reconciliations of net income to ebitda and ebitda to adjusted ebitda for the periods presented: .
[['( in millions )', 'years ended december 31 , 2015', 'years ended december 31 , 2014', 'years ended december 31 , 2013', 'years ended december 31 , 2012', 'years ended december 31 , 2011'], ['net income', '$ 403.1', '$ 244.9', '$ 132.8', '$ 119.0', '$ 17.1'], ['depreciation and amortization', '227.4', '207.9', '208.2', '210.2', '204.9'], ['income tax expense', '243.9', '142.8', '62.7', '67.1', '11.2'], ['interest expense net', '159.5', '197.3', '250.1', '307.4', '324.2'], ['ebitda', '1033.9', '792.9', '653.8', '703.7', '557.4'], ['non-cash equity-based compensation', '31.2', '16.4', '8.6', '22.1', '19.5'], ['net loss on extinguishment of long-term debt ( a )', '24.3', '90.7', '64.0', '17.2', '118.9'], ['loss ( income ) from equity investments ( b )', '10.1', '-2.2 ( 2.2 )', '-0.6 ( 0.6 )', '-0.3 ( 0.3 )', '-0.1 ( 0.1 )'], ['acquisition and integration expenses ( c )', '10.2', '2014', '2014', '2014', '2014'], ['gain on remeasurement of equity investment ( d )', '-98.1 ( 98.1 )', '2014', '2014', '2014', '2014'], ['other adjustments ( e )', '6.9', '9.2', '82.7', '23.9', '21.6'], ['adjusted ebitda ( f )', '$ 1018.5', '$ 907.0', '$ 808.5', '$ 766.6', '$ 717.3']]
net loss on extinguishment of long-term debt ( a ) 24.3 90.7 64.0 17.2 118.9 loss ( income ) from equity investments ( b ) 10.1 ( 2.2 ) ( 0.6 ) ( 0.3 ) ( 0.1 ) acquisition and integration expenses ( c ) 10.2 2014 2014 2014 2014 gain on remeasurement of equity investment ( d ) ( 98.1 ) 2014 2014 2014 2014 other adjustments ( e ) 6.9 9.2 82.7 23.9 21.6 adjusted ebitda ( f ) $ 1018.5 $ 907.0 $ 808.5 $ 766.6 $ 717.3 ( a ) during the years ended december 31 , 2015 , 2014 , 2013 , 2012 , and 2011 , we recorded net losses on extinguishments of long-term debt .the losses represented the difference between the amount paid upon extinguishment , including call premiums and expenses paid to the debt holders and agents , and the net carrying amount of the extinguished debt , adjusted for a portion of the unamortized deferred financing costs .( b ) represents our share of net income/loss from our equity investments .our 35% ( 35 % ) share of kelway 2019s net loss includes our 35% ( 35 % ) share of an expense related to certain equity awards granted by one of the sellers to kelway coworkers in july 2015 prior to the acquisition .( c ) primarily includes expenses related to the acquisition of kelway .( d ) represents the gain resulting from the remeasurement of our previously held 35% ( 35 % ) equity investment to fair value upon the completion of the acquisition of kelway. .
|
did 2015 adjusted ebitda increase more than 2015 actual ebitda?
|
no
|
{
"answer": "no",
"decimal": null,
"type": "bool"
}
| |
in the fourth quarter of 2002 , aes lost voting control of one of the holding companies in the cemig ownership structure .this holding company indirectly owns the shares related to the cemig investment and indirectly holds the project financing debt related to cemig .as a result of the loss of voting control , aes stopped consolidating this holding company at december 31 , 2002 .other .during the fourth quarter of 2003 , the company sold its 25% ( 25 % ) ownership interest in medway power limited ( 2018 2018mpl 2019 2019 ) , a 688 mw natural gas-fired combined cycle facility located in the united kingdom , and aes medway operations limited ( 2018 2018aesmo 2019 2019 ) , the operating company for the facility , in an aggregate transaction valued at approximately a347 million ( $ 78 million ) .the sale resulted in a gain of $ 23 million which was recorded in continuing operations .mpl and aesmo were previously reported in the contract generation segment .in the second quarter of 2002 , the company sold its investment in empresa de infovias s.a .( 2018 2018infovias 2019 2019 ) , a telecommunications company in brazil , for proceeds of $ 31 million to cemig , an affiliated company .the loss recorded on the sale was approximately $ 14 million and is recorded as a loss on sale of assets and asset impairment expenses in the accompanying consolidated statements of operations .in the second quarter of 2002 , the company recorded an impairment charge of approximately $ 40 million , after income taxes , on an equity method investment in a telecommunications company in latin america held by edc .the impairment charge resulted from sustained poor operating performance coupled with recent funding problems at the invested company .during 2001 , the company lost operational control of central electricity supply corporation ( 2018 2018cesco 2019 2019 ) , a distribution company located in the state of orissa , india .the state of orissa appointed an administrator to take operational control of cesco .cesco is accounted for as a cost method investment .aes 2019s investment in cesco is negative .in august 2000 , a subsidiary of the company acquired a 49% ( 49 % ) interest in songas for approximately $ 40 million .the company acquired an additional 16.79% ( 16.79 % ) of songas for approximately $ 12.5 million , and the company began consolidating this entity in 2002 .songas owns the songo songo gas-to-electricity project in tanzania .in december 2002 , the company signed a sales purchase agreement to sell 100% ( 100 % ) of our ownership interest in songas .the sale of songas closed in april 2003 ( see note 4 for further discussion of the transaction ) .the following tables present summarized comparative financial information ( in millions ) of the entities in which the company has the ability to exercise significant influence but does not control and that are accounted for using the equity method. .
[['as of and for the years ended december 31,', '2003', '2002 ( 1 )', '2001 ( 1 )'], ['revenues', '$ 2758', '$ 2832', '$ 6147'], ['operating income', '1039', '695', '1717'], ['net income', '407', '229', '650'], ['current assets', '1347', '1097', '3700'], ['noncurrent assets', '7479', '6751', '14942'], ['current liabilities', '1434', '1418', '3510'], ['noncurrent liabilities', '3795', '3349', '8297'], ["stockholder's equity", '3597', '3081', '6835']]
( 1 ) includes information pertaining to eletropaulo and light prior to february 2002 .in 2002 and 2001 , the results of operations and the financial position of cemig were negatively impacted by the devaluation of the brazilian real and the impairment charge recorded in 2002 .the brazilian real devalued 32% ( 32 % ) and 19% ( 19 % ) for the years ended december 31 , 2002 and 2001 , respectively. .
|
what is the implied total value of medway power limited , in us$ ?
|
312000000
|
{
"answer": "312000000",
"decimal": 312000000,
"type": "float"
}
| |
the company recorded equity earnings , net of taxes , related to ilim of $ 290 million in 2018 , compared with earnings of $ 183 million in 2017 , and $ 199 million in 2016 .operating results recorded in 2018 included an after-tax non-cash foreign exchange loss of $ 82 million , compared with an after-tax foreign exchange gain of $ 15 million in 2017 and an after-tax foreign exchange gain of $ 25 million in 2016 , primarily on the remeasurement of ilim's u.s .dollar denominated net debt .ilim delivered outstanding performance in 2018 , driven largely by higher price realization and strong demand .sales volumes for the joint venture increased year over year for shipments to china of softwood pulp and linerboard , but were offset by decreased sales of hardwood pulp to china .sales volumes in the russian market increased for softwood pulp and hardwood pulp , but decreased for linerboard .average sales price realizations were significantly higher in 2018 for sales of softwood pulp , hardwood pulp and linerboard to china and other export markets .average sales price realizations in russian markets increased year over year for all products .input costs were higher in 2018 , primarily for wood , fuel and chemicals .distribution costs were negatively impacted by tariffs and inflation .the company received cash dividends from the joint venture of $ 128 million in 2018 , $ 133 million in 2017 and $ 58 million in entering the first quarter of 2019 , sales volumes are expected to be lower than in the fourth quarter of 2018 , due to the seasonal slowdown in china and fewer trading days .based on pricing to date in the current quarter , average sales prices are expected to decrease for hardwood pulp , softwood pulp and linerboard to china .input costs are projected to be relatively flat , while distribution costs are expected to increase .equity earnings - gpip international paper recorded equity earnings of $ 46 million on its 20.5% ( 20.5 % ) ownership position in gpip in 2018 .the company received cash dividends from the investment of $ 25 million in 2018 .liquidity and capital resources overview a major factor in international paper 2019s liquidity and capital resource planning is its generation of operating cash flow , which is highly sensitive to changes in the pricing and demand for our major products .while changes in key cash operating costs , such as energy , raw material , mill outage and transportation costs , do have an effect on operating cash generation , we believe that our focus on pricing and cost controls has improved our cash flow generation over an operating cycle .cash uses during 2018 were primarily focused on working capital requirements , capital spending , debt reductions and returning cash to shareholders through dividends and share repurchases under the company's share repurchase program .cash provided by operating activities cash provided by operations , including discontinued operations , totaled $ 3.2 billion in 2018 , compared with $ 1.8 billion for 2017 , and $ 2.5 billion for 2016 .cash used by working capital components ( accounts receivable , contract assets and inventory less accounts payable and accrued liabilities , interest payable and other ) totaled $ 439 million in 2018 , compared with cash used by working capital components of $ 402 million in 2017 , and cash provided by working capital components of $ 71 million in 2016 .investment activities including discontinued operations , investment activities in 2018 increased from 2017 , as 2018 included higher capital spending .in 2016 , investment activity included the purchase of weyerhaeuser's pulp business for $ 2.2 billion in cash , the purchase of the holmen business for $ 57 million in cash , net of cash acquired , and proceeds from the sale of the asia packaging business of $ 108 million , net of cash divested .the company maintains an average capital spending target around depreciation and amortization levels , or modestly above , due to strategic plans over the course of an economic cycle .capital spending was $ 1.6 billion in 2018 , or 118% ( 118 % ) of depreciation and amortization , compared with $ 1.4 billion in 2017 , or 98% ( 98 % ) of depreciation and amortization , and $ 1.3 billion , or 110% ( 110 % ) of depreciation and amortization in 2016 .across our segments , capital spending as a percentage of depreciation and amortization ranged from 69.8% ( 69.8 % ) to 132.1% ( 132.1 % ) in 2018 .the following table shows capital spending for operations by business segment for the years ended december 31 , 2018 , 2017 and 2016 , excluding amounts related to discontinued operations of $ 111 million in 2017 and $ 107 million in 2016. .
[['in millions', '2018', '2017', '2016'], ['industrial packaging', '$ 1061', '$ 836', '$ 832'], ['global cellulose fibers', '183', '188', '174'], ['printing papers', '303', '235', '215'], ['subtotal', '1547', '1259', '1221'], ['corporate and other', '25', '21', '20'], ['capital spending', '$ 1572', '$ 1280', '$ 1241']]
capital expenditures in 2019 are currently expected to be about $ 1.4 billion , or 104% ( 104 % ) of depreciation and amortization , including approximately $ 400 million of strategic investments. .
|
what was the percentage of capital expenditures for operations in the industrial packaging business segment in 2018?
|
67%
|
{
"answer": "67%",
"decimal": 0.67,
"type": "percentage"
}
| |
contractual obligations in 2011 , we issued $ 1200 million of senior notes and entered into the credit facility with third-party lenders in the amount of $ 1225 million .as of december 31 , 2011 , total outstanding long-term debt was $ 1859 million , consisting of these senior notes and the credit facility , in addition to $ 105 million of third party debt that remained outstanding subsequent to the spin-off .in connection with the spin-off , we entered into a transition services agreement with northrop grumman , under which northrop grumman or certain of its subsidiaries provides us with certain services to help ensure an orderly transition following the distribution .under the transition services agreement , northrop grumman provides , for up to 12 months following the spin-off , certain enterprise shared services ( including information technology , resource planning , financial , procurement and human resource services ) , benefits support services and other specified services .the original term of the transition services agreement ends on march 31 , 2012 , although we have the right to and have cancelled certain services as we transition to new third-party providers .the services provided by northrop grumman are charged to us at cost , and a limited number of these services may be extended for a period of approximately six months to allow full information systems transition .see note 20 : related party transactions and former parent company equity in item 8 .in connection with the spin-off , we entered into a tax matters agreement with northrop grumman ( the 201ctax matters agreement 201d ) that governs the respective rights , responsibilities and obligations of northrop grumman and us after the spin-off with respect to tax liabilities and benefits , tax attributes , tax contests and other tax sharing regarding u.s .federal , state , local and foreign income taxes , other taxes and related tax returns .we have several liabilities with northrop grumman to the irs for the consolidated u.s .federal income taxes of the northrop grumman consolidated group relating to the taxable periods in which we were part of that group .however , the tax matters agreement specifies the portion of this tax liability for which we will bear responsibility , and northrop grumman has agreed to indemnify us against any amounts for which we are not responsible .the tax matters agreement also provides special rules for allocating tax liabilities in the event that the spin-off , together with certain related transactions , is not tax-free .see note 20 : related party transactions and former parent company equity in item 8 .we do not expect either the transition services agreement or the tax matters agreement to have a significant impact on our financial condition and results of operations .the following table presents our contractual obligations as of december 31 , 2011 , and the related estimated timing of future cash payments : ( $ in millions ) total 2012 2013 - 2014 2015 - 2016 2017 and beyond .
[['( $ in millions )', 'total', '2012', '2013 - 2014', '2015 - 2016', '2017 and beyond'], ['long-term debt', '$ 1859', '$ 29', '$ 129', '$ 396', '$ 1305'], ['interest payments on long-term debt ( 1 )', '854', '112', '219', '202', '321'], ['operating leases', '124', '21', '32', '23', '48'], ['purchase obligations ( 2 )', '2425', '1409', '763', '209', '44'], ['other long-term liabilities ( 3 )', '587', '66', '96', '67', '358'], ['total contractual obligations', '$ 5849', '$ 1637', '$ 1239', '$ 897', '$ 2076']]
( 1 ) interest payments include interest on $ 554 million of variable interest rate debt calculated based on interest rates at december 31 , 2011 .( 2 ) a 201cpurchase obligation 201d is defined as an agreement to purchase goods or services that is enforceable and legally binding on us and that specifies all significant terms , including : fixed or minimum quantities to be purchased ; fixed , minimum , or variable price provisions ; and the approximate timing of the transaction .these amounts are primarily comprised of open purchase order commitments to vendors and subcontractors pertaining to funded contracts .( 3 ) other long-term liabilities primarily consist of total accrued workers 2019 compensation reserves , deferred compensation , and other miscellaneous liabilities , of which $ 201 million is the current portion of workers 2019 compensation liabilities .it excludes obligations for uncertain tax positions of $ 9 million , as the timing of the payments , if any , cannot be reasonably estimated .the above table excludes retirement related contributions .in 2012 , we expect to make minimum and discretionary contributions to our qualified pension plans of approximately $ 153 million and $ 65 million , respectively , exclusive of any u.s .government recoveries .we will continue to periodically evaluate whether to make additional discretionary contributions .in 2012 , we expect to make $ 35 million in contributions for our other postretirement plans , exclusive of any .
|
in 2012 what is the ratio of the minimum to the discretionary contributions to our qualified pension plans
|
2.35
|
{
"answer": "2.35",
"decimal": 2.35,
"type": "float"
}
|
for every 2.35 of the minimum required payments $ 1 is spent on the discretionary payments
|
global brand concepts american living launched exclusively at jcpenney in february 2008 , american living is a new tradition in american style for family and home , developed for the jcpenney customer by polo ralph lauren 2019s global brand concepts .american living features menswear , womenswear , childrenswear , accessories and home furnishings capturing the american spirit with modern style and superior quality .a complete lifestyle brand for the entire family and the home , american living mixes sporty , iconic essentials with eye-catching looks for a free-spirited take on contemporary style for every day .american living is available exclusively at jcpenney and jcp.com .chaps translates the classic heritage and timeless aesthetic of ralph lauren into an accessible line for men , women , children and the home .from casual basics designed for versatility and ease of wear to smart , finely tailored silhouettes perfect for business and more formal occasions , chaps creates interchangeable classics that are both enduring and affordable .the chaps men 2019s collection is available at select department and specialty stores .the chaps collections for women , children and the home are available only at kohl 2019s and kohls.com .our wholesale segment our wholesale segment sells our products to leading upscale and certain mid-tier department stores , specialty stores and golf and pro shops , both domestically and internationally .we have focused on elevating our brand and improving productivity by reducing the number of unproductive doors within department stores in which our products are sold , improving in-store product assortment and presentation , and improving full-price sell-throughs to consumers .as of the end of fiscal 2009 , our ralph lauren-branded products were sold through approximately 6100 doors worldwide and during fiscal 2009 , we invested approximately $ 35 million in related shop-within-shops primarily in domestic and international department and specialty stores .department stores are our major wholesale customers in north america .in europe , our wholesale sales are a varying mix of sales to both department stores and specialty shops , depending on the country .our collection brands 2014 women 2019s ralph lauren collection and black label and men 2019s purple label collection and black label 2014 are distributed through a limited number of premier fashion retailers .in addition , we sell excess and out- of-season products through secondary distribution channels , including our retail factory stores .in japan , our products are distributed primarily through shop-within-shops at premiere department stores .the mix of business is weighted to polo ralph lauren in men 2019s and women 2019s blue label .the distribution of men 2019s and women 2019s black label is also expanding through shop-within-shop presentations in top tier department stores across japan .worldwide distribution channels the following table presents the approximate number of doors by geographic location , in which ralph lauren- branded products distributed by our wholesale segment were sold to consumers in our primary channels of distribution as of march 28 , 2009 : location number of doors ( a ) .
[['location', 'number of doors ( a )'], ['united states and canada', '2104'], ['europe', '3873'], ['japan', '120'], ['total', '6097']]
( a ) in asia/pacific ( excluding japan ) , our products are distributed by our licensing partners. .
|
what percentage of worldwide distribution channels doors were located in japan?
|
2%
|
{
"answer": "2%",
"decimal": 0.02,
"type": "percentage"
}
| |
table of contents company stock performance the following graph shows a five-year comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 index , the s&p computer hardware index , and the dow jones u.s .technology supersector index .the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the s&p computer hardware index , and the dow jones u.s .technology supersector index as of the market close on september 30 , 2008 .data points on the graph are annual .note that historic stock price performance is not necessarily indicative of future stock price performance .fiscal year ending september 30 .copyright 2013 s&p , a division of the mcgraw-hill companies inc .all rights reserved .copyright 2013 dow jones & co .all rights reserved .*$ 100 invested on 9/30/08 in stock or index , including reinvestment of dividends .september 30 , september 30 , september 30 , september 30 , september 30 , september 30 .
[['', 'september 30 2008', 'september 30 2009', 'september 30 2010', 'september 30 2011', 'september 30 2012', 'september 30 2013'], ['apple inc .', '$ 100', '$ 163', '$ 250', '$ 335', '$ 589', '$ 431'], ['s&p 500 index', '$ 100', '$ 93', '$ 103', '$ 104', '$ 135', '$ 161'], ['s&p computer hardware index', '$ 100', '$ 118', '$ 140', '$ 159', '$ 255', '$ 197'], ['dow jones us technology supersector index', '$ 100', '$ 111', '$ 124', '$ 128', '$ 166', '$ 175']]
.
|
what was the cumulative change in value for the s&p index between 2008 and 2013?
|
61
|
{
"answer": "61",
"decimal": 61,
"type": "float"
}
| |
shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the securities and exchange commission , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing .the following graph shows a five year comparison of cumulative total shareowners 2019 returns for our class b common stock , the standard & poor 2019s 500 index , and the dow jones transportation average .the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2005 in the standard & poor 2019s 500 index , the dow jones transportation average , and our class b common stock .comparison of five year cumulative total return $ 40.00 $ 60.00 $ 80.00 $ 100.00 $ 120.00 $ 140.00 $ 160.00 201020092008200720062005 s&p 500 ups dj transport .
[['', '12/31/05', '12/31/06', '12/31/07', '12/31/08', '12/31/09', '12/31/10'], ['united parcel service inc .', '$ 100.00', '$ 101.76', '$ 98.20', '$ 78.76', '$ 84.87', '$ 110.57'], ['standard & poor 2019s 500 index', '$ 100.00', '$ 115.79', '$ 122.16', '$ 76.96', '$ 97.33', '$ 111.99'], ['dow jones transportation average', '$ 100.00', '$ 109.82', '$ 111.38', '$ 87.52', '$ 103.79', '$ 131.59']]
.
|
what is the difference in total cumulative return on investment between united parcel service inc . and the standard & poor 2019s 500 index for the five year period ending 12/31/10?
|
-1.42%
|
{
"answer": "-1.42%",
"decimal": -0.014199999999999999,
"type": "percentage"
}
| |
table of contents as of september 28 , 2013 .the company 2019s share repurchase program does not obligate it to acquire any specific number of shares .under the program , shares may be repurchased in privately negotiated and/or open market transactions , including under plans complying with rule 10b5-1 of the securities exchange act of 1934 , as amended ( the 201cexchange act 201d ) .in august 2012 , the company entered into an accelerated share repurchase arrangement ( 201casr 201d ) with a financial institution to purchase up to $ 1.95 billion of the company 2019s common stock in 2013 .in the first quarter of 2013 , 2.6 million shares were initially delivered to the company .in april 2013 , the purchase period for the asr ended and an additional 1.5 million shares were delivered to the company .in total , 4.1 million shares were delivered under the asr at an average repurchase price of $ 478.20 per share .the shares were retired in the quarters they were delivered , and the up-front payment of $ 1.95 billion was accounted for as a reduction to shareholders 2019 equity in the company 2019s consolidated balance sheet in the first quarter of 2013 .in april 2013 , the company entered into a new asr program with two financial institutions to purchase up to $ 12 billion of the company 2019s common stock .in exchange for up-front payments totaling $ 12 billion , the financial institutions committed to deliver shares during the asr 2019s purchase periods , which will end during 2014 .the total number of shares ultimately delivered , and therefore the average price paid per share , will be determined at the end of the applicable purchase period based on the volume weighted average price of the company 2019s stock during that period .during the third quarter of 2013 , 23.5 million shares were initially delivered to the company and retired .this does not represent the final number of shares to be delivered under the asr .the up-front payments of $ 12 billion were accounted for as a reduction to shareholders 2019 equity in the company 2019s consolidated balance sheet .the company reflected the asrs as a repurchase of common stock for purposes of calculating earnings per share and as forward contracts indexed to its own common stock .the forward contracts met all of the applicable criteria for equity classification , and , therefore , were not accounted for as derivative instruments .during 2013 , the company repurchased 19.4 million shares of its common stock in the open market at an average price of $ 464.11 per share for a total of $ 9.0 billion .these shares were retired upon repurchase .note 8 2013 comprehensive income comprehensive income consists of two components , net income and other comprehensive income .other comprehensive income refers to revenue , expenses , and gains and losses that under gaap are recorded as an element of shareholders 2019 equity but are excluded from net income .the company 2019s other comprehensive income consists of foreign currency translation adjustments from those subsidiaries not using the u.s .dollar as their functional currency , net deferred gains and losses on certain derivative instruments accounted for as cash flow hedges , and unrealized gains and losses on marketable securities classified as available-for-sale .the following table shows the components of aoci , net of taxes , as of september 28 , 2013 and september 29 , 2012 ( in millions ) : .
[['', '2013', '2012'], ['cumulative foreign currency translation', '$ -105 ( 105 )', '$ 8'], ['net unrecognized gains/losses on derivative instruments', '-175 ( 175 )', '-240 ( 240 )'], ['net unrealized gains/losses on marketable securities', '-191 ( 191 )', '731'], ['accumulated other comprehensive income/ ( loss )', '$ -471 ( 471 )', '$ 499']]
.
|
excluding cumulative foreign currency translation in 2012 , what would the balance of \\naccumulated other comprehensive income/ ( loss ) be , in millions?
|
491
|
{
"answer": "491",
"decimal": 491,
"type": "float"
}
| |
notes to consolidated financial statements 192 jpmorgan chase & co ./ 2008 annual report consolidation analysis the multi-seller conduits administered by the firm were not consoli- dated at december 31 , 2008 and 2007 , because each conduit had issued expected loss notes ( 201celns 201d ) , the holders of which are com- mitted to absorbing the majority of the expected loss of each respective conduit .implied support the firm did not have and continues not to have any intent to pro- tect any eln holders from potential losses on any of the conduits 2019 holdings and has no plans to remove any assets from any conduit unless required to do so in its role as administrator .should such a transfer occur , the firm would allocate losses on such assets between itself and the eln holders in accordance with the terms of the applicable eln .expected loss modeling in determining the primary beneficiary of the conduits the firm uses a monte carlo 2013based model to estimate the expected losses of each of the conduits and considers the relative rights and obliga- tions of each of the variable interest holders .the firm 2019s expected loss modeling treats all variable interests , other than the elns , as its own to determine consolidation .the variability to be considered in the modeling of expected losses is based on the design of the enti- ty .the firm 2019s traditional multi-seller conduits are designed to pass credit risk , not liquidity risk , to its variable interest holders , as the assets are intended to be held in the conduit for the longer term .under fin 46 ( r ) , the firm is required to run the monte carlo-based expected loss model each time a reconsideration event occurs .in applying this guidance to the conduits , the following events , are considered to be reconsideration events , as they could affect the determination of the primary beneficiary of the conduits : 2022 new deals , including the issuance of new or additional variable interests ( credit support , liquidity facilities , etc ) ; 2022 changes in usage , including the change in the level of outstand- ing variable interests ( credit support , liquidity facilities , etc ) ; 2022 modifications of asset purchase agreements ; and 2022 sales of interests held by the primary beneficiary .from an operational perspective , the firm does not run its monte carlo-based expected loss model every time there is a reconsideration event due to the frequency of their occurrence .instead , the firm runs its expected loss model each quarter and includes a growth assump- tion for each conduit to ensure that a sufficient amount of elns exists for each conduit at any point during the quarter .as part of its normal quarterly modeling , the firm updates , when applicable , the inputs and assumptions used in the expected loss model .specifically , risk ratings and loss given default assumptions are continually updated .the total amount of expected loss notes out- standing at december 31 , 2008 and 2007 , were $ 136 million and $ 130 million , respectively .management has concluded that the model assumptions used were reflective of market participants 2019 assumptions and appropriately considered the probability of changes to risk ratings and loss given defaults .qualitative considerations the multi-seller conduits are primarily designed to provide an effi- cient means for clients to access the commercial paper market .the firm believes the conduits effectively disperse risk among all parties and that the preponderance of the economic risk in the firm 2019s multi- seller conduits is not held by jpmorgan chase .consolidated sensitivity analysis on capital the table below shows the impact on the firm 2019s reported assets , lia- bilities , tier 1 capital ratio and tier 1 leverage ratio if the firm were required to consolidate all of the multi-seller conduits that it admin- isters at their current carrying value .december 31 , 2008 ( in billions , except ratios ) reported pro forma ( a ) ( b ) .
[['( in billions except ratios )', 'reported', 'pro forma ( a ) ( b )'], ['assets', '$ 2175.1', '$ 2218.2'], ['liabilities', '2008.2', '2051.3'], ['tier 1 capital ratio', '10.9% ( 10.9 % )', '10.9% ( 10.9 % )'], ['tier 1 leverage ratio', '6.9', '6.8']]
( a ) the table shows the impact of consolidating the assets and liabilities of the multi- seller conduits at their current carrying value ; as such , there would be no income statement or capital impact at the date of consolidation .if the firm were required to consolidate the assets and liabilities of the conduits at fair value , the tier 1 capital ratio would be approximately 10.8% ( 10.8 % ) .the fair value of the assets is primarily based upon pricing for comparable transactions .the fair value of these assets could change significantly because the pricing of conduit transactions is renegotiated with the client , generally , on an annual basis and due to changes in current market conditions .( b ) consolidation is assumed to occur on the first day of the quarter , at the quarter-end levels , in order to provide a meaningful adjustment to average assets in the denomi- nator of the leverage ratio .the firm could fund purchases of assets from vies should it become necessary .2007 activity in july 2007 , a reverse repurchase agreement collateralized by prime residential mortgages held by a firm-administered multi-seller conduit was put to jpmorgan chase under its deal-specific liquidity facility .the asset was transferred to and recorded by jpmorgan chase at its par value based on the fair value of the collateral that supported the reverse repurchase agreement .during the fourth quarter of 2007 , additional information regarding the value of the collateral , including performance statistics , resulted in the determi- nation by the firm that the fair value of the collateral was impaired .impairment losses were allocated to the eln holder ( the party that absorbs the majority of the expected loss from the conduit ) in accor- dance with the contractual provisions of the eln note .on october 29 , 2007 , certain structured cdo assets originated in the second quarter of 2007 and backed by subprime mortgages were transferred to the firm from two firm-administered multi-seller conduits .it became clear in october that commercial paper investors and rating agencies were becoming increasingly concerned about cdo assets backed by subprime mortgage exposures .because of these concerns , and to ensure the continuing viability of the two conduits as financing vehicles for clients and as investment alternatives for commercial paper investors , the firm , in its role as administrator , transferred the cdo assets out of the multi-seller con- duits .the structured cdo assets were transferred to the firm at .
|
in 2008 , what was shareholders equity ( in billions ) , as reported?\\n
|
166.9
|
{
"answer": "166.9",
"decimal": 166.9,
"type": "float"
}
|
assets - liabilities = se
|
selling , general and administrative expenses increased $ 286.7 million to $ 1158.3 million in 2014 from $ 871.6 million in 2013 .as a percentage of net revenues , selling , general and administrative expenses increased to 37.5% ( 37.5 % ) in 2014 from 37.3% ( 37.3 % ) in 2013 .these changes were primarily attributable to the following : 2022 marketing costs increased $ 86.5 million to $ 333.0 million in 2014 from $ 246.5 million in 2013 primarily due to increased global sponsorship of professional teams and athletes .as a percentage of net revenues , marketing costs increased to 10.8% ( 10.8 % ) in 2014 from 10.5% ( 10.5 % ) .2022 other costs increased increased $ 200.2 million to $ 825.3 million in 2014 from $ 625.1 million in 2013 .this increase was primarily due to higher personnel and other costs incurred for the continued expansion of our direct to consumer distribution channel , including increased investment for our brand house stores .this increase was also due to additional investment in our connected fitness business .as a percentage of net revenues , other costs were unchanged at 26.8% ( 26.8 % ) in 2014 and 2013 .income from operations increased $ 88.9 million , or 33.5% ( 33.5 % ) , to $ 354.0 million in 2014 from $ 265.1 million in 2013 .income from operations as a percentage of net revenues increased to 11.5% ( 11.5 % ) in 2014 from 11.4% ( 11.4 % ) in 2013 .interest expense , net increased $ 2.4 million to $ 5.3 million in 2014 from $ 2.9 million in 2013 .this increase was primarily due to the $ 150.0 million and $ 100.0 million term loans borrowed during 2014 .other expense , net increased $ 5.2 million to $ 6.4 million in 2014 from $ 1.2 million in 2013 .this increase was due to higher net losses in 2014 on the combined foreign currency exchange rate changes on transactions denominated in foreign currencies and our foreign currency derivative financial instruments as compared to 2013 .provision for income taxes increased $ 35.5 million to $ 134.2 million in 2014 from $ 98.7 million in 2013 .our effective tax rate was 39.2% ( 39.2 % ) in 2014 compared to 37.8% ( 37.8 % ) in 2013 .our effective tax rate for 2014 was higher than the effective tax rate for 2013 primarily due to increased foreign investments driving a lower proportion of foreign taxable income in 2014 and state tax credits received in 2013 .segment results of operations the net revenues and operating income ( loss ) associated with our segments are summarized in the following tables .the majority of corporate expenses within north america have not been allocated to international or connected fitness ; however , certain costs and revenues included within north america in the prior period have been allocated to connected fitness in the current period .prior period segment data has been recast by an immaterial amount within the tables to conform to the current period presentation .year ended december 31 , 2015 compared to year ended december 31 , 2014 net revenues by segment are summarized below: .
[['( in thousands )', 'year ended december 31 , 2015', 'year ended december 31 , 2014', 'year ended december 31 , $ change', 'year ended december 31 , % ( % ) change'], ['north america', '$ 3455737', '$ 2796374', '$ 659363', '23.6% ( 23.6 % )'], ['international', '454161', '268771', '185390', '69.0'], ['connected fitness', '53415', '19225', '34190', '177.8'], ['total net revenues', '$ 3963313', '$ 3084370', '$ 878943', '28.5% ( 28.5 % )']]
net revenues in our north america operating segment increased $ 659.3 million to $ 3455.7 million in 2015 from $ 2796.4 million in 2014 primarily due to the items discussed above in the consolidated results of operations .net revenues in international increased $ 185.4 million to $ 454.2 million in 2015 from $ 268.8 million in 2014 primarily due to unit sales growth in our emea and asia-pacific operating segments .net revenues in our connected fitness operating segment increased $ 34.2 million to $ 53.4 million in 2015 from $ 19.2 million in 2014 primarily due to revenues generated from our two connected fitness acquisitions in 2015 and growth in our existing connected fitness business. .
|
in 2015 what was the percent of the growth in net revenues in international from 2014
|
68.9%
|
{
"answer": "68.9%",
"decimal": 0.6890000000000001,
"type": "percentage"
}
| |
table of contents research and development expense ( 201cr&d 201d ) r&d expense increased 34% ( 34 % ) or $ 449 million to $ 1.8 billion in 2010 compared to 2009 .this increase was due primarily to an increase in headcount and related expenses in the current year to support expanded r&d activities .also contributing to this increase in r&d expense in 2010 was the capitalization in 2009 of software development costs of $ 71 million related to mac os x snow leopard .although total r&d expense increased 34% ( 34 % ) during 2010 , it declined as a percentage of net sales given the 52% ( 52 % ) year-over-year increase in net sales in 2010 .the company continues to believe that focused investments in r&d are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the company 2019s core business strategy .as such , the company expects to make further investments in r&d to remain competitive .r&d expense increased 20% ( 20 % ) or $ 224 million to $ 1.3 billion in 2009 compared to 2008 .this increase was due primarily to an increase in headcount in 2009 to support expanded r&d activities and higher stock-based compensation expenses .additionally , $ 71 million of software development costs were capitalized related to mac os x snow leopard and excluded from r&d expense during 2009 , compared to $ 11 million of software development costs capitalized during 2008 .although total r&d expense increased 20% ( 20 % ) during 2009 , it remained relatively flat as a percentage of net sales given the 14% ( 14 % ) increase in revenue in 2009 .selling , general and administrative expense ( 201csg&a 201d ) sg&a expense increased $ 1.4 billion or 33% ( 33 % ) to $ 5.5 billion in 2010 compared to 2009 .this increase was due primarily to the company 2019s continued expansion of its retail segment , higher spending on marketing and advertising programs , increased stock-based compensation expenses and variable costs associated with the overall growth of the company 2019s net sales .sg&a expenses increased $ 388 million or 10% ( 10 % ) to $ 4.1 billion in 2009 compared to 2008 .this increase was due primarily to the company 2019s continued expansion of its retail segment in both domestic and international markets , higher stock-based compensation expense and higher spending on marketing and advertising .other income and expense other income and expense for the three years ended september 25 , 2010 , are as follows ( in millions ) : total other income and expense decreased $ 171 million or 52% ( 52 % ) to $ 155 million during 2010 compared to $ 326 million and $ 620 million in 2009 and 2008 , respectively .the overall decrease in other income and expense is attributable to the significant declines in interest rates on a year- over-year basis , partially offset by the company 2019s higher cash , cash equivalents and marketable securities balances .the weighted average interest rate earned by the company on its cash , cash equivalents and marketable securities was 0.75% ( 0.75 % ) , 1.43% ( 1.43 % ) and 3.44% ( 3.44 % ) during 2010 , 2009 and 2008 , respectively .additionally the company incurred higher premium expenses on its foreign exchange option contracts , which further reduced the total other income and expense .during 2010 , 2009 and 2008 , the company had no debt outstanding and accordingly did not incur any related interest expense .provision for income taxes the company 2019s effective tax rates were 24% ( 24 % ) , 32% ( 32 % ) and 32% ( 32 % ) for 2010 , 2009 and 2008 , respectively .the company 2019s effective rates for these periods differ from the statutory federal income tax rate of 35% ( 35 % ) due .
[['', '2010', '2009', '2008'], ['interest income', '$ 311', '$ 407', '$ 653'], ['other income ( expense ) net', '-156 ( 156 )', '-81 ( 81 )', '-33 ( 33 )'], ['total other income and expense', '$ 155', '$ 326', '$ 620']]
.
|
by how much did total other income and expense decrease from 2009 to 2010?
|
52.5%
|
{
"answer": "52.5%",
"decimal": 0.525,
"type": "percentage"
}
| |
issuer purchases of equity securities the following table provides information about our repurchases of common stock during the three-month period ended december 31 , 2007 .period total number of shares purchased average price paid per total number of shares purchased as part of publicly announced program ( a ) maximum number of shares that may yet be purchased under the program ( b ) .
[['period', 'total number ofshares purchased', 'average pricepaid pershare', 'total number of sharespurchased as part ofpubliclyannouncedprogram ( a )', 'maximum number ofshares that may yet bepurchased under theprogram ( b )'], ['october', '127100', '$ 108.58', '127100', '35573131'], ['november', '1504300', '109.07', '1504300', '34068831'], ['december', '1325900', '108.78', '1325900', '32742931']]
( a ) we repurchased a total of 2957300 shares of our common stock during the quarter ended december 31 , 2007 under a share repurchase program that we announced in october 2002 .( b ) our board of directors has approved a share repurchase program for the repurchase of up to 128 million shares of our common stock from time-to-time , including 20 million shares approved for repurchase by our board of directors in september 2007 .under the program , management has discretion to determine the number and price of the shares to be repurchased , and the timing of any repurchases , in compliance with applicable law and regulation .as of december 31 , 2007 , we had repurchased a total of 95.3 million shares under the program .in 2007 , we did not make any unregistered sales of equity securities. .
|
for the quarter ended december 31 , 2007 what was the percent of the shared bought in october
|
4.3%
|
{
"answer": "4.3%",
"decimal": 0.043,
"type": "percentage"
}
| |
restrictive covenants the terms of the 2017 credit facility and certain of our senior unsecured notes include certain restrictions and covenants which may limit , among other things , our ability to pay dividends , make certain types of investments , incur additional indebtedness , incur liens and enter into negative pledge agreements and dispose of assets , and which require compliance with financial ratios relating to the maximum ratio of total indebtedness to total asset value , a minimum ratio of ebitda to fixed charges , a maximum ratio of secured indebtedness to total asset value and a maximum ratio of unsecured indebtedness to unencumbered asset value .the dividend restriction referred to above provides that , we will not during any time when a default is continuing , make distributions with respect to common stock or other equity interests , except to enable the company to continue to qualify as a reit for federal income tax purposes .as of december a031 , 2017 and 2016 , we were in compliance with all such covenants .junior subordinated deferrable interest debentures in june a02005 , the company and the operating partnership issued $ 100.0 a0million in unsecured trust preferred securities through a newly formed trust , sl a0green capital trust i , or the trust , which is a wholly-owned subsidiary of the operating partnership .the securities mature in 2035 and bear interest at a floating rate of 125 a0basis points over the three-month libor .interest payments may be deferred for a period of up to eight consecutive quarters if the operating partnership exercises its right to defer such payments .the trust preferred securities are redeemable at the option of the operating partnership , in whole or in part , with no prepayment premium .we do not consolidate the trust even though it is a variable interest entity as we are not the primary beneficiary .because the trust is not consolidated , we have recorded the debt on our consolidated balance sheets and the related payments are classified as interest expense .interest rate risk we are exposed to changes in interest rates primarily from our variable rate debt .our exposure to interest rate fluctuations are managed through either the use of interest rate derivative instru- ments and/or through our variable rate debt and preferred equity investments .a hypothetical 100 a0basis point increase in interest rates along the entire interest rate curve for a02017 would increase our consolidated annual interest cost , net of interest income from variable rate debt and preferred equity investments , by $ 2.7 a0mil- lion and would increase our share of joint venture annual interest cost by $ 17.2 a0million .at december a031 , 2017 , 61.5% ( 61.5 % ) of our $ 2.1 a0bil- lion debt and preferred equity portfolio is indexed to libor .we recognize most derivatives on the balance sheet at fair value .derivatives that are not hedges are adjusted to fair value through income .if a derivative is considered a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earnings , or recog- nized in other comprehensive income until the hedged item is recognized in earnings .the ineffective portion of a derivative 2019s change in fair value is immediately recognized in a0earnings .our long-term debt of $ 4.3 a0billion bears interest at fixed rates , and therefore the fair value of these instruments is affected by changes in the market interest rates .our variable rate debt and variable rate joint venture debt as of december a031 , 2017 bore interest based on a spread of libor plus 100 a0basis points to libor plus 415 a0basis points .contractual obligations the combined aggregate principal maturities of mortgages and other loans payable , the 2017 credit facility , senior unsecured notes ( net of discount ) , trust preferred securities , our share of joint venture debt , including as-of-right extension options and put options , estimated interest expense , and our obligations under our capital lease and ground leases , as of december a031 , 2017 are as follows ( in a0thousands ) : .
[['', '2018', '2019', '2020', '2021', '2022', 'thereafter', 'total'], ['property mortgages and other loans', '$ 153593', '$ 42289', '$ 703018', '$ 11656', '$ 208003', '$ 1656623', '$ 2775182'], ['mra facilities', '90809', '2014', '2014', '2014', '2014', '2014', '90809'], ['revolving credit facility', '2014', '2014', '2014', '2014', '2014', '40000', '40000'], ['unsecured term loans', '2014', '2014', '2014', '2014', '2014', '1500000', '1500000'], ['senior unsecured notes', '250000', '2014', '250000', '2014', '800000', '100000', '1400000'], ['trust preferred securities', '2014', '2014', '2014', '2014', '2014', '100000', '100000'], ['capital lease', '2387', '2411', '2620', '2794', '2794', '819894', '832900'], ['ground leases', '31049', '31066', '31436', '31628', '29472', '703254', '857905'], ['estimated interest expense', '226815', '218019', '184376', '163648', '155398', '281694', '1229950'], ['joint venture debt', '200250', '717682', '473809', '449740', '223330', '2119481', '4184292'], ['total', '$ 954903', '$ 1011467', '$ 1645259', '$ 659466', '$ 1418997', '$ 7320946', '$ 13011038']]
.
|
what was the 2019 rate of increase in capital lease payments?
|
1%
|
{
"answer": "1%",
"decimal": 0.01,
"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 was the range of the amount , in millions , the plan received from employers for the pension plan in 2015 , 2016 and 2017?
|
35.9
|
{
"answer": "35.9",
"decimal": 35.9,
"type": "float"
}
| |
entergy corporation and subsidiaries management 2019s financial discussion and analysis the volume/weather variance is primarily due to an increase of 1402 gwh , or 1% ( 1 % ) , in billed electricity usage , including an increase in industrial usage and the effect of more favorable weather .the increase in industrial sales was primarily due to expansion in the chemicals industry and the addition of new customers , partially offset by decreased demand primarily due to extended maintenance outages for existing chemicals customers .the waterford 3 replacement steam generator provision is due to a regulatory charge of approximately $ 32 million recorded in 2015 related to the uncertainty associated with the resolution of the waterford 3 replacement steam generator project .see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding .the miso deferral variance is primarily due to the deferral in 2014 of non-fuel miso-related charges , as approved by the lpsc and the mpsc .the deferral of non-fuel miso-related charges is partially offset in other operation and maintenance expenses .see note 2 to the financial statements for further discussion of the recovery of non-fuel miso-related charges .the louisiana business combination customer credits variance is due to a regulatory liability of $ 107 million recorded by entergy in october 2015 as a result of the entergy gulf states louisiana and entergy louisiana business combination .consistent with the terms of the stipulated settlement in the business combination proceeding , electric customers of entergy louisiana will realize customer credits associated with the business combination ; accordingly , in october 2015 , entergy recorded a regulatory liability of $ 107 million ( $ 66 million net-of-tax ) .see note 2 to the financial statements for further discussion of the business combination and customer credits .entergy wholesale commodities following is an analysis of the change in net revenue comparing 2015 to 2014 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2014 net revenue', '$ 2224'], ['nuclear realized price changes', '-310 ( 310 )'], ['vermont yankee shutdown in december 2014', '-305 ( 305 )'], ['nuclear volume excluding vermont yankee effect', '20'], ['other', '37'], ['2015 net revenue', '$ 1666']]
as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 558 million in 2016 primarily due to : 2022 lower realized wholesale energy prices , primarily due to significantly higher northeast market power prices in 2014 , and lower capacity prices in 2015 ; and 2022 a decrease in net revenue as a result of vermont yankee ceasing power production in december 2014 .the decrease was partially offset by higher volume in the entergy wholesale commodities nuclear fleet , excluding vermont yankee , resulting from fewer refueling outage days in 2015 as compared to 2014 , partially offset by more unplanned outage days in 2015 as compared to 2014. .
|
what is the growth rate in net revenue in 2015?
|
-25.1%
|
{
"answer": "-25.1%",
"decimal": -0.251,
"type": "percentage"
}
| |
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 , 2015 to december 31 , 2015 .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 may yet be purchased under the plans or programs3'], ['october 1 - 31', '2140511', '$ 20.54', '2139507', '$ 227368014'], ['november 1 - 30', '1126378', '$ 22.95', '1124601', '$ 201557625'], ['december 1 - 31', '1881992', '$ 22.97', '1872650', '$ 158553178'], ['total', '5148881', '$ 21.96', '5136758', '']]
1 included shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) .we repurchased 1004 withheld shares in october 2015 , 1777 withheld shares in november 2015 and 9342 withheld shares in december 2015 .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 5 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 2015 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2015 share repurchase program 201d ) .on february 12 , 2016 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock .the new authorization is in addition to any amounts remaining for repurchase under the 2015 share repurchase program .there is no expiration date associated with the share repurchase programs. .
|
what percentage of total shares purchased was purchased in december?
|
36.55%
|
{
"answer": "36.55%",
"decimal": 0.3655,
"type": "percentage"
}
| |
entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis entergy louisiana may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest and distribution rates are favorable .all debt and common and preferred membership interest issuances by entergy louisiana require prior regulatory approval .preferred membership interest and debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements .entergy louisiana has sufficient capacity under these tests to meet its foreseeable capital needs .entergy louisiana 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 )'], ['$ 22503', '$ 6154', '$ 2815', '$ 19573']]
see note 4 to the financial statements for a description of the money pool .entergy louisiana has a credit facility in the amount of $ 350 million scheduled to expire in august 2021 .the credit facility allows entergy louisiana to issue letters of credit against 50% ( 50 % ) of the borrowing capacity of the facility .as of december 31 , 2016 , there were no cash borrowings and a $ 6.4 million letter of credit outstanding under the credit facility .in addition , entergy louisiana is party to an uncommitted letter of credit facility as a means to post collateral to support its obligations under miso .as of december 31 , 2016 , a $ 5.7 million letter of credit was outstanding under entergy louisiana 2019s uncommitted letter of credit facility .see note 4 to the financial statements for additional discussion of the credit facilities .the entergy louisiana nuclear fuel company variable interest entities have two separate credit facilities , one in the amount of $ 105 million and one in the amount of $ 85 million , both scheduled to expire in may 2019 .as of december 31 , 2016 , $ 3.8 million of letters of credit were outstanding under the credit facility to support a like amount of commercial paper issued by the entergy louisiana waterford 3 nuclear fuel company variable interest entity and there were no cash borrowings outstanding under the credit facility for the entergy louisiana river bend nuclear fuel company variable interest entity .see note 4 to the financial statements for additional discussion of the nuclear fuel company variable interest entity credit facility .entergy louisiana obtained authorizations from the ferc through october 2017 for the following : 2022 short-term borrowings not to exceed an aggregate amount of $ 450 million at any time outstanding ; 2022 long-term borrowings and security issuances ; and 2022 long-term borrowings by its nuclear fuel company variable interest entities .see note 4 to the financial statements for further discussion of entergy louisiana 2019s short-term borrowing limits .hurricane isaac in june 2014 the lpsc voted to approve a series of orders which ( i ) quantified $ 290.8 million of hurricane isaac system restoration costs as prudently incurred ; ( ii ) determined $ 290 million as the level of storm reserves to be re-established ; ( iii ) authorized entergy louisiana to utilize louisiana act 55 financing for hurricane isaac system restoration costs ; and ( iv ) granted other requested relief associated with storm reserves and act 55 financing of hurricane isaac system restoration costs .entergy louisiana committed to pass on to customers a minimum of $ 30.8 million of customer benefits through annual customer credits of approximately $ 6.2 million for five years .approvals for the act 55 financings were obtained from the louisiana utilities restoration corporation and the louisiana state bond commission .see note 2 to the financial statements for a discussion of the august 2014 issuance of bonds under act 55 of the louisiana legislature. .
|
the company had several letters of credit outstanding . as of december 31 , 2016 , what was the total amount outstanding under the august 2021 facility and the entergy louisiana facility , in millions?\\n\\n
|
12.1
|
{
"answer": "12.1",
"decimal": 12.1,
"type": "float"
}
| |
consolidated income statement review our consolidated income statement is presented in item 8 of this report .net income for 2012 was $ 3.0 billion compared with $ 3.1 billion for 2011 .revenue growth of 8 percent and a decline in the provision for credit losses were more than offset by a 16 percent increase in noninterest expense in 2012 compared to 2011 .further detail is included in the net interest income , noninterest income , provision for credit losses and noninterest expense portions of this consolidated income statement review .net interest income table 2 : net interest income and net interest margin year ended december 31 dollars in millions 2012 2011 .
[['year ended december 31dollars in millions', '2012', '2011'], ['net interest income', '$ 9640', '$ 8700'], ['net interest margin', '3.94% ( 3.94 % )', '3.92% ( 3.92 % )']]
changes in net interest income and margin result from the interaction of the volume and composition of interest-earning assets and related yields , interest-bearing liabilities and related rates paid , and noninterest-bearing sources of funding .see the statistical information ( unaudited ) 2013 average consolidated balance sheet and net interest analysis and analysis of year-to-year changes in net interest income in item 8 of this report and the discussion of purchase accounting accretion of purchased impaired loans in the consolidated balance sheet review in this item 7 for additional information .the increase in net interest income in 2012 compared with 2011 was primarily due to the impact of the rbc bank ( usa ) acquisition , organic loan growth and lower funding costs .purchase accounting accretion remained stable at $ 1.1 billion in both periods .the net interest margin was 3.94% ( 3.94 % ) for 2012 and 3.92% ( 3.92 % ) for 2011 .the increase in the comparison was primarily due to a decrease in the weighted-average rate accrued on total interest- bearing liabilities of 29 basis points , largely offset by a 21 basis point decrease on the yield on total interest-earning assets .the decrease in the rate on interest-bearing liabilities was primarily due to the runoff of maturing retail certificates of deposit and the redemption of additional trust preferred and hybrid capital securities during 2012 , in addition to an increase in fhlb borrowings and commercial paper as lower-cost funding sources .the decrease in the yield on interest-earning assets was primarily due to lower rates on new loan volume and lower yields on new securities in the current low rate environment .with respect to the first quarter of 2013 , we expect net interest income to decline by two to three percent compared to fourth quarter 2012 net interest income of $ 2.4 billion , due to a decrease in purchase accounting accretion of up to $ 50 to $ 60 million , including lower expected cash recoveries .for the full year 2013 , we expect net interest income to decrease compared with 2012 , assuming an expected decline in purchase accounting accretion of approximately $ 400 million , while core net interest income is expected to increase in the year-over-year comparison .we believe our net interest margin will come under pressure in 2013 , due to the expected decline in purchase accounting accretion and assuming that the current low rate environment continues .noninterest income noninterest income totaled $ 5.9 billion for 2012 and $ 5.6 billion for 2011 .the overall increase in the comparison was primarily due to an increase in residential mortgage loan sales revenue driven by higher loan origination volume , gains on sales of visa class b common shares and higher corporate service fees , largely offset by higher provision for residential mortgage repurchase obligations .asset management revenue , including blackrock , totaled $ 1.2 billion in 2012 compared with $ 1.1 billion in 2011 .this increase was primarily due to higher earnings from our blackrock investment .discretionary assets under management increased to $ 112 billion at december 31 , 2012 compared with $ 107 billion at december 31 , 2011 driven by stronger average equity markets , positive net flows and strong sales performance .for 2012 , consumer services fees were $ 1.1 billion compared with $ 1.2 billion in 2011 .the decline reflected the regulatory impact of lower interchange fees on debit card transactions partially offset by customer growth .as further discussed in the retail banking portion of the business segments review section of this item 7 , the dodd-frank limits on interchange rates were effective october 1 , 2011 and had a negative impact on revenue of approximately $ 314 million in 2012 and $ 75 million in 2011 .this impact was partially offset by higher volumes of merchant , customer credit card and debit card transactions and the impact of the rbc bank ( usa ) acquisition .corporate services revenue increased by $ .3 billion , or 30 percent , to $ 1.2 billion in 2012 compared with $ .9 billion in 2011 due to higher commercial mortgage servicing revenue and higher merger and acquisition advisory fees in 2012 .the major components of corporate services revenue are treasury management revenue , corporate finance fees , including revenue from capital markets-related products and services , and commercial mortgage servicing revenue , including commercial mortgage banking activities .see the product revenue portion of this consolidated income statement review for further detail .the pnc financial services group , inc .2013 form 10-k 39 .
|
what was the percentage change in the net interest income from 2011 to 2012
|
10.8%
|
{
"answer": "10.8%",
"decimal": 0.10800000000000001,
"type": "percentage"
}
| |
amortization expense , which is included in selling , general and administrative expenses , was $ 13.0 million , $ 13.9 million and $ 8.5 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .the following is the estimated amortization expense for the company 2019s intangible assets as of december 31 , 2016 : ( in thousands ) .
[['2017', '$ 10509'], ['2018', '9346'], ['2019', '9240'], ['2020', '7201'], ['2021', '5318'], ['2022 and thereafter', '16756'], ['amortization expense of intangible assets', '$ 58370']]
at december 31 , 2016 , 2015 and 2014 , the company determined that its goodwill and indefinite- lived intangible assets were not impaired .5 .credit facility and other long term debt credit facility the company is party to a credit agreement that provides revolving commitments for up to $ 1.25 billion of borrowings , as well as term loan commitments , in each case maturing in january 2021 .as of december 31 , 2016 there was no outstanding balance under the revolving credit facility and $ 186.3 million of term loan borrowings remained outstanding .at the company 2019s request and the lender 2019s consent , revolving and or term loan borrowings may be increased by up to $ 300.0 million in aggregate , subject to certain conditions as set forth in the credit agreement , as amended .incremental borrowings are uncommitted and the availability thereof , will depend on market conditions at the time the company seeks to incur such borrowings .the borrowings under the revolving credit facility have maturities of less than one year .up to $ 50.0 million of the facility may be used for the issuance of letters of credit .there were $ 2.6 million of letters of credit outstanding as of december 31 , 2016 .the credit agreement contains negative covenants that , subject to significant exceptions , limit the ability of the company and its subsidiaries to , among other things , incur additional indebtedness , make restricted payments , pledge their assets as security , make investments , loans , advances , guarantees and acquisitions , undergo fundamental changes and enter into transactions with affiliates .the company is also required to maintain a ratio of consolidated ebitda , as defined in the credit agreement , to consolidated interest expense of not less than 3.50 to 1.00 and is not permitted to allow the ratio of consolidated total indebtedness to consolidated ebitda to be greater than 3.25 to 1.00 ( 201cconsolidated leverage ratio 201d ) .as of december 31 , 2016 , the company was in compliance with these ratios .in addition , the credit agreement contains events of default that are customary for a facility of this nature , and includes a cross default provision whereby an event of default under other material indebtedness , as defined in the credit agreement , will be considered an event of default under the credit agreement .borrowings under the credit agreement bear interest at a rate per annum equal to , at the company 2019s option , either ( a ) an alternate base rate , or ( b ) a rate based on the rates applicable for deposits in the interbank market for u.s .dollars or the applicable currency in which the loans are made ( 201cadjusted libor 201d ) , plus in each case an applicable margin .the applicable margin for loans will .
|
what was the difference in millions of amortization expense between 2014 and 2015?
|
5.4
|
{
"answer": "5.4",
"decimal": 5.4,
"type": "float"
}
| |
the goldman sachs group , inc .and subsidiaries 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 and separate accounts 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 2015', 'year ended december 2014', 'year ended december 2013'], ['equity securities', '$ 3781', '$ 4579', '$ 4974'], ['debt securities and loans', '1655', '2246', '2044'], ['total net revenues1', '5436', '6825', '7018'], ['operating expenses', '2402', '2819', '2686'], ['pre-tax earnings', '$ 3034', '$ 4006', '$ 4332']]
1 .net revenues related to our consolidated investments , previously reported in other net revenues within investing & lending , are now reported in equity securities and debt securities and loans , as results from these activities ( $ 391 million for 2015 ) are no longer significant principally due to the sale of metro in the fourth quarter of 2014 .reclassifications have been made to previously reported amounts to conform to the current presentation .2015 versus 2014 .net revenues in investing & lending were $ 5.44 billion for 2015 , 20% ( 20 % ) lower than 2014 .this decrease was primarily due to lower net revenues from investments in equities , principally reflecting the sale of metro in the fourth quarter of 2014 and lower net gains from investments in private equities , driven by corporate performance .in addition , net revenues in debt securities and loans were significantly lower , reflecting lower net gains from investments .although net revenues in investing & lending for 2015 benefited from favorable company-specific events , including sales , initial public offerings and financings , a decline in global equity prices and widening high-yield credit spreads during the second half of the year impacted results .concern about the outlook for the global economy continues to be a meaningful consideration for the global marketplace .if equity markets continue to decline or credit spreads widen further , net revenues in investing & lending would likely continue to be negatively impacted .operating expenses were $ 2.40 billion for 2015 , 15% ( 15 % ) lower than 2014 , due to lower depreciation and amortization expenses , primarily reflecting lower impairment charges related to consolidated investments , and a reduction in expenses related to the sale of metro in the fourth quarter of 2014 .pre-tax earnings were $ 3.03 billion in 2015 , 24% ( 24 % ) lower than 2014 .2014 versus 2013 .net revenues in investing & lending were $ 6.83 billion for 2014 , 3% ( 3 % ) lower than 2013 .net revenues from investments in equity securities were 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 , as well as significantly lower net revenues related to our consolidated investments , reflecting a decrease in operating revenues from commodities-related consolidated investments .these decreases were 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 .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 .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 .64 goldman sachs 2015 form 10-k .
|
in millions for 2015 , 2014 , and 2013 , what was the lowest equity securities?\\n\\n
|
3781
|
{
"answer": "3781",
"decimal": 3781,
"type": "float"
}
| |
page 29 of 98 in connection with the internal revenue service 2019s ( irs ) examination of ball 2019s consolidated income tax returns for the tax years 2000 through 2004 , the irs has proposed to disallow ball 2019s deductions of interest expense incurred on loans under a company-owned life insurance plan that has been in place for more than 20 years .ball believes that its interest deductions will be sustained as filed and , therefore , no provision for loss has been recorded .the total potential liability for the audit years 1999 through 2004 , unaudited year 2005 and an estimate of the impact on 2006 is approximately $ 31 million , excluding related interest .the irs has withdrawn its proposed adjustments for any penalties .see note 13 accompanying the consolidated financial statements within item 8 of this annual report .results of equity affiliates equity in the earnings of affiliates in 2006 is primarily attributable to our 50 percent ownership in packaging investments in the u.s .and brazil .earnings in 2004 included the results of a minority-owned aerospace business , which was sold in october 2005 , and a $ 15.2 million loss representing ball 2019s share of a provision for doubtful accounts relating to its 35 percent interest in sanshui jfp ( discussed above in 201cmetal beverage packaging , europe/asia 201d ) .after consideration of the prc loss , earnings were $ 14.7 million in 2006 compared to $ 15.5 million in 2005 and $ 15.8 million in 2004 .critical and significant accounting policies and new accounting pronouncements for information regarding the company 2019s critical and significant accounting policies , as well as recent accounting pronouncements , see note 1 to the consolidated financial statements within item 8 of this report .financial condition , liquidity and capital resources cash flows and capital expenditures cash flows from operating activities were $ 401.4 million in 2006 compared to $ 558.8 million in 2005 and $ 535.9 million in 2004 .management internally uses a free cash flow measure : ( 1 ) to evaluate the company 2019s operating results , ( 2 ) for planning purposes , ( 3 ) to evaluate strategic investments and ( 4 ) to evaluate the company 2019s ability to incur and service debt .free cash flow is not a defined term under u.s .generally accepted accounting principles , and it should not be inferred that the entire free cash flow amount is available for discretionary expenditures .the company defines free cash flow as cash flow from operating activities less additions to property , plant and equipment ( capital spending ) .free cash flow is typically derived directly from the company 2019s cash flow statements ; however , it may be adjusted for items that affect comparability between periods .an example of such an item included in 2006 is the property insurance proceeds for the replacement of the fire-damaged assets in our hassloch , germany , plant , which is included in capital spending amounts .based on this , our consolidated free cash flow is summarized as follows: .
[['( $ in millions )', '2006', '2005', '2004'], ['cash flows from operating activities', '$ 401.4', '$ 558.8', '$ 535.9'], ['capital spending', '-279.6 ( 279.6 )', '-291.7 ( 291.7 )', '-196.0 ( 196.0 )'], ['proceeds for replacement of fire-damaged assets', '61.3', '2013', '2013'], ['free cash flow', '$ 183.1', '$ 267.1', '$ 339.9']]
cash flows from operating activities in 2006 were negatively affected by higher cash pension funding and higher working capital levels compared to the prior year .the higher working capital was a combination of higher than planned raw material inventory levels , higher income tax payments and higher accounts receivable balances , the latter resulting primarily from the repayment of a portion of the accounts receivable securitization program and late payments from customers in europe .management expects the increase in working capital to be temporary and that working capital levels will return to normal levels by the end of the first half of 2007. .
|
for 2006 , without the cash due to replacement of fire-damaged assets , what would free cash flow have been , in millions?
|
121.8
|
{
"answer": "121.8",
"decimal": 121.8,
"type": "float"
}
| |
entergy mississippi , inc .management 2019s financial discussion and analysis plan to spin off the utility 2019s transmission business see the 201cplan to spin off the utility 2019s transmission business 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for a discussion of this matter , including the planned retirement of debt and preferred securities .results of operations net income 2011 compared to 2010 net income increased $ 23.4 million primarily due to a lower effective income tax rate .2010 compared to 2009 net income increased $ 6.0 million primarily due to higher net revenue and higher other income , partially offset by higher taxes other than income taxes , higher depreciation and amortization expenses , and higher interest expense .net revenue 2011 compared to 2010 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .following is an analysis of the change in net revenue comparing 2011 to 2010 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2010 net revenue', '$ 555.3'], ['volume/weather', '-4.5 ( 4.5 )'], ['transmission equalization', '4.5'], ['other', '-0.4 ( 0.4 )'], ['2011 net revenue', '$ 554.9']]
the volume/weather variance is primarily due to a decrease of 97 gwh in weather-adjusted usage in the residential and commercial sectors and a decrease in sales volume in the unbilled sales period .the transmission equalization variance is primarily due to the addition in 2011 of transmission investments that are subject to equalization .gross operating revenues and fuel and purchased power expenses gross operating revenues increased primarily due to an increase of $ 57.5 million in gross wholesale revenues due to an increase in sales to affiliated customers , partially offset by a decrease of $ 26.9 million in power management rider revenue .fuel and purchased power expenses increased primarily due to an increase in deferred fuel expense as a result of higher fuel revenues due to higher fuel rates , partially offset by a decrease in the average market prices of natural gas and purchased power. .
|
what is the net change in net revenues from 2010 to 2011?
|
1.6
|
{
"answer": "1.6",
"decimal": 1.6,
"type": "float"
}
| |
company stock performance the following graph shows a five-year comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s .technology index .the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s .technology index as of the market close on september 30 , 2007 .data points on the graph are annual .note that historic stock price performance is not necessarily indicative of future stock price performance .sep-11sep-10sep-09sep-08sep-07 sep-12 apple inc .s&p 500 s&p computer hardware dow jones us technology comparison of 5 year cumulative total return* among apple inc. , the s&p 500 index , the s&p computer hardware index , and the dow jones us technology index *$ 100 invested on 9/30/07 in stock or index , including reinvestment of dividends .fiscal year ending september 30 .copyright a9 2012 s&p , a division of the mcgraw-hill companies inc .all rights reserved .september 30 , september 30 , september 30 , september 30 , september 30 , september 30 .
[['', 'september 30 2007', 'september 30 2008', 'september 30 2009', 'september 30 2010', 'september 30 2011', 'september 30 2012'], ['apple inc .', '$ 100', '$ 74', '$ 121', '$ 185', '$ 248', '$ 437'], ['s&p 500', '$ 100', '$ 78', '$ 73', '$ 80', '$ 81', '$ 105'], ['s&p computer hardware', '$ 100', '$ 84', '$ 99', '$ 118', '$ 134', '$ 214'], ['dow jones us technology', '$ 100', '$ 76', '$ 85', '$ 95', '$ 98', '$ 127']]
.
|
what was the percentage 5 year cumulative total return for apple inc . for the the period ended september 30 , 2012?
|
337%
|
{
"answer": "337%",
"decimal": 3.37,
"type": "percentage"
}
| |
notes to consolidated financial statements ( continued ) note 8 2014shareholders 2019 equity ( continued ) the following table summarizes activity in other comprehensive income related to derivatives , net of taxes , held by the company ( in millions ) : .
[['', '2006', '2005', '2004'], ['changes in fair value of derivatives', '$ 11', '$ 7', '$ -21 ( 21 )'], ['adjustment for net losses realized and included in net income', '-12 ( 12 )', '1', '33'], ['change in unrealized gain/loss on derivative instruments', '$ -1 ( 1 )', '$ 8', '$ 12']]
the tax effect related to the changes in fair value of derivatives was $ ( 8 ) million , $ ( 3 ) million , and $ 10 million for 2006 , 2005 , and 2004 , respectively .the tax effect related to derivative gains/losses reclassified from other comprehensive income to net income was $ 8 million , $ ( 2 ) million , and $ ( 13 ) million for 2006 , 2005 , and 2004 , respectively .employee benefit plans 2003 employee stock plan the 2003 employee stock plan ( the 201c2003 plan 201d ) is a shareholder approved plan that provides for broad- based grants to employees , including executive officers .based on the terms of individual option grants , options granted under the 2003 plan generally expire 7 to 10 years after the grant date and generally become exercisable over a period of 4 years , based on continued employment , with either annual or quarterly vesting .the 2003 plan permits the granting of incentive stock options , nonstatutory stock options , restricted stock units , stock appreciation rights , and stock purchase rights .1997 employee stock option plan in august 1997 , the company 2019s board of directors approved the 1997 employee stock option plan ( the 201c1997 plan 201d ) , a non-shareholder approved plan for grants of stock options to employees who are not officers of the company .based on the terms of individual option grants , options granted under the 1997 plan generally expire 7 to 10 years after the grant date and generally become exercisable over a period of 4 years , based on continued employment , with either annual or quarterly vesting .in october 2003 , the company terminated the 1997 employee stock option plan and cancelled all remaining unissued shares totaling 28590702 .no new options can be granted from the 1997 plan .employee stock option exchange program on march 20 , 2003 , the company announced a voluntary employee stock option exchange program ( the 201cexchange program 201d ) whereby eligible employees , other than executive officers and members of the board of directors , had an opportunity to exchange outstanding options with exercise prices at or above $ 12.50 per share for a predetermined smaller number of new stock options issued with exercise prices equal to the fair market value of one share of the company 2019s common stock on the day the new awards were issued , which was to be at least six months plus one day after the exchange options were cancelled .on april 17 , 2003 , in accordance with the exchange program , the company cancelled options to purchase 33138386 shares of its common stock .on october 22 , 2003 , new stock options totaling 13394736 shares were issued to employees at an exercise price of $ 11.38 per share , which is equivalent to the closing price of the company 2019s stock on that date .no financial or accounting impact to the company 2019s financial position , results of operations or cash flows was associated with this transaction. .
|
what was the greatest annual change in unrealized gain/loss on derivative instruments , in millions?/
|
12
|
{
"answer": "12",
"decimal": 12,
"type": "float"
}
| |
part i item 1 .business .general development of business general : altria group , inc .is a holding company incorporated in the commonwealth of virginia in 1985 .at december 31 , 2014 , altria group , inc . 2019s wholly-owned subsidiaries included philip morris usa inc .( 201cpm usa 201d ) , which is engaged predominantly in the manufacture and sale of cigarettes in the united states ; john middleton co .( 201cmiddleton 201d ) , which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco , and is a wholly- owned subsidiary of pm usa ; and ust llc ( 201cust 201d ) , which through its wholly-owned subsidiaries , including u.s .smokeless tobacco company llc ( 201cusstc 201d ) and ste .michelle wine estates ltd .( 201cste .michelle 201d ) , is engaged in the manufacture and sale of smokeless tobacco products and wine .altria group , inc . 2019s other operating companies included nu mark llc ( 201cnu mark 201d ) , a wholly-owned subsidiary that is engaged in the manufacture and sale of innovative tobacco products , and philip morris capital corporation ( 201cpmcc 201d ) , a wholly-owned subsidiary that maintains a portfolio of finance assets , substantially all of which are leveraged leases .other altria group , inc .wholly-owned subsidiaries included altria group distribution company , which provides sales , distribution and consumer engagement services to certain altria group , inc .operating subsidiaries , and altria client services inc. , which provides various support services , such as legal , regulatory , finance , human resources and external affairs , to altria group , inc .and its subsidiaries .at december 31 , 2014 , altria group , inc .also held approximately 27% ( 27 % ) of the economic and voting interest of sabmiller plc ( 201csabmiller 201d ) , which altria group , inc .accounts for under the equity method of accounting .source of funds : because altria group , inc .is a holding company , its access to the operating cash flows of its wholly- owned subsidiaries consists of cash received from the payment of dividends and distributions , and the payment of interest on intercompany loans by its subsidiaries .at december 31 , 2014 , altria group , inc . 2019s principal wholly-owned subsidiaries were not limited by long-term debt or other agreements in their ability to pay cash dividends or make other distributions with respect to their equity interests .in addition , altria group , inc .receives cash dividends on its interest in sabmiller if and when sabmiller pays such dividends .financial information about segments altria group , inc . 2019s reportable segments are smokeable products , smokeless products and wine .the financial services and the innovative tobacco products businesses are included in an all other category due to the continued reduction of the lease portfolio of pmcc and the relative financial contribution of altria group , inc . 2019s innovative tobacco products businesses to altria group , inc . 2019s consolidated results .altria group , inc . 2019s chief operating decision maker reviews operating companies income to evaluate the performance of , and allocate resources to , the segments .operating companies income for the segments is defined as operating income before amortization of intangibles and general corporate expenses .interest and other debt expense , net , and provision for income taxes are centrally managed at the corporate level and , accordingly , such items are not presented by segment since they are excluded from the measure of segment profitability reviewed by altria group , inc . 2019s chief operating decision maker .net revenues and operating companies income ( together with a reconciliation to earnings before income taxes ) attributable to each such segment for each of the last three years are set forth in note 15 .segment reporting to the consolidated financial statements in item 8 .financial statements and supplementary data of this annual report on form 10-k ( 201citem 8 201d ) .information about total assets by segment is not disclosed because such information is not reported to or used by altria group , inc . 2019s chief operating decision maker .segment goodwill and other intangible assets , net , are disclosed in note 4 .goodwill and other intangible assets , net to the consolidated financial statements in item 8 ( 201cnote 4 201d ) .the accounting policies of the segments are the same as those described in note 2 .summary of significant accounting policies to the consolidated financial statements in item 8 ( 201cnote 2 201d ) .the relative percentages of operating companies income ( loss ) attributable to each reportable segment and the all other category were as follows: .
[['', '2014', '2013', '2012'], ['smokeable products', '87.2% ( 87.2 % )', '84.5% ( 84.5 % )', '83.7% ( 83.7 % )'], ['smokeless products', '13.4', '12.2', '12.5'], ['wine', '1.7', '1.4', '1.4'], ['all other', '-2.3 ( 2.3 )', '1.9', '2.4'], ['total', '100.0% ( 100.0 % )', '100.0% ( 100.0 % )', '100.0% ( 100.0 % )']]
for items affecting the comparability of the relative percentages of operating companies income ( loss ) attributable to each reportable segment , see note 15 .segment reporting to the consolidated financial statements in item 8 ( 201cnote 15 201d ) .narrative description of business portions of the information called for by this item are included in item 7 .management 2019s discussion and analysis of financial condition and results of operations - operating results by business segment of this annual report on form 10-k .tobacco space altria group , inc . 2019s tobacco operating companies include pm usa , usstc and other subsidiaries of ust , middleton and nu mark .altria group distribution company provides sales , distribution and consumer engagement services to altria group , inc . 2019s tobacco operating companies .the products of altria group , inc . 2019s tobacco subsidiaries include smokeable tobacco products comprised of cigarettes manufactured and sold by pm usa and machine-made large altria_mdc_2014form10k_nolinks_crops.pdf 3 2/25/15 5:56 pm .
|
what is the percent change in the relative percentages of operating companies income ( loss ) attributable to smokeless products from 2013 to 2014?
|
1.2%
|
{
"answer": "1.2%",
"decimal": 0.012,
"type": "percentage"
}
| |
the goldman sachs group , inc .and subsidiaries management 2019s discussion and analysis net revenues the table below presents our net revenues by line item in the consolidated statements of earnings. .
[['$ in millions', 'year ended december 2017', 'year ended december 2016', 'year ended december 2015'], ['investment banking', '$ 7371', '$ 6273', '$ 7027'], ['investment management', '5803', '5407', '5868'], ['commissions and fees', '3051', '3208', '3320'], ['market making', '7660', '9933', '9523'], ['other principal transactions', '5256', '3200', '5018'], ['totalnon-interestrevenues', '29141', '28021', '30756'], ['interest income', '13113', '9691', '8452'], ['interest expense', '10181', '7104', '5388'], ['net interest income', '2932', '2587', '3064'], ['total net revenues', '$ 32073', '$ 30608', '$ 33820']]
in the table above : 2030 investment banking consists of revenues ( excluding net interest ) from financial advisory and underwriting assignments , as well as derivative transactions directly related to these assignments .these activities are included in our investment banking segment .2030 investment management consists of revenues ( excluding net interest ) from providing investment management services to a diverse set of clients , as well as wealth advisory services and certain transaction services to high-net-worth individuals and families .these activities are included in our investment management segment .2030 commissions and fees consists of revenues from executing and clearing client transactions on major stock , options and futures exchanges worldwide , as well as over-the-counter ( otc ) transactions .these activities are included in our institutional client services and investment management segments .2030 market making consists of revenues ( excluding net interest ) from client execution activities related to making markets in interest rate products , credit products , mortgages , currencies , commodities and equity products .these activities are included in our institutional client services segment .2030 other principal transactions consists of revenues ( excluding net interest ) from our investing activities and the origination of loans to provide financing to clients .in addition , other principal transactions includes revenues related to our consolidated investments .these activities are included in our investing & lending segment .operating environment .during 2017 , generally higher asset prices and tighter credit spreads were supportive of industry-wide underwriting activities , investment management performance and other principal transactions .however , low levels of volatility in equity , fixed income , currency and commodity markets continued to negatively affect our market-making activities , particularly in fixed income , currency and commodity products .the price of natural gas decreased significantly during 2017 , while the price of oil increased compared with the end of 2016 .if the trend of low volatility continues over the long term and market-making activity levels remain low , or if investment banking activity levels , asset prices or assets under supervision decline , net revenues would likely be negatively impacted .see 201csegment operating results 201d below for further information about the operating environment and material trends and uncertainties that may impact our results of operations .the first half of 2016 included challenging trends in the operating environment for our business activities including concerns and uncertainties about global economic growth , central bank activity and the political uncertainty and economic implications surrounding the potential exit of the u.k .from the e.u .during the second half of 2016 , the operating environment improved , as global equity markets steadily increased and investment grade and high-yield credit spreads tightened .these trends provided a more favorable backdrop for our business activities .2017 versus 2016 net revenues in the consolidated statements of earnings were $ 32.07 billion for 2017 , 5% ( 5 % ) higher than 2016 , due to significantly higher other principal transactions revenues , and higher investment banking revenues , investment management revenues and net interest income .these increases were partially offset by significantly lower market making revenues and lower commissions and fees .non-interest revenues .investment banking revenues in the consolidated statements of earnings were $ 7.37 billion for 2017 , 18% ( 18 % ) higher than 2016 .revenues in financial advisory were higher compared with 2016 , reflecting an increase in completed mergers and acquisitions transactions .revenues in underwriting were significantly higher compared with 2016 , due to significantly higher revenues in both debt underwriting , primarily reflecting an increase in industry-wide leveraged finance activity , and equity underwriting , reflecting an increase in industry-wide secondary offerings .52 goldman sachs 2017 form 10-k .
|
what is the growth rate in net revenues in 2017?
|
4.8%
|
{
"answer": "4.8%",
"decimal": 0.048,
"type": "percentage"
}
| |
table of contents 2022 rugby is a vertical retail format featuring an aspirational lifestyle collection of apparel and accessories for men and women .the brand is characterized by a youthful , preppy attitude which resonates throughout the line and the store experience .in addition to generating sales of our products , our worldwide full-price stores set , reinforce and capitalize on the image of our brands .our stores range in size from approximately 800 to over 38000 square feet .these full-price stores are situated in major upscale street locations and upscale regional malls , generally in large urban markets .we generally lease our stores for initial periods ranging from 5 to 10 years with renewal options .factory retail stores we extend our reach to additional consumer groups through our 191 polo ralph lauren factory stores worldwide .our factory stores are generally located in outlet centers .we generally lease our stores for initial periods ranging from 5 to 10 years with renewal options .during fiscal 2011 , we added 19 new polo ralph lauren factory stores , net , and assumed 2 factory stores in connection with the south korea licensed operations acquisition ( see 201crecent developments 201d for further discussion ) .we operated the following factory retail stores as of april 2 , 2011 : location ralph lauren .
[['location', 'polo ralph lauren'], ['united states', '140'], ['europe', '31'], ['asia ( a )', '20'], ['total', '191']]
( a ) includes japan , south korea , china , hong kong , indonesia , malaysia , the philippines , singapore , taiwan and thailand .2022 polo ralph lauren domestic factory stores offer selections of our menswear , womenswear , children 2019s apparel , accessories , home furnishings and fragrances .ranging in size from approximately 2500 to 20000 square feet , with an average of approximately 9500 square feet , these stores are principally located in major outlet centers in 37 states and puerto rico .2022 europe factory stores offer selections of our menswear , womenswear , children 2019s apparel , accessories , home furnishings and fragrances .ranging in size from approximately 2300 to 10500 square feet , with an average of approximately 6000 square feet , these stores are located in 11 countries , principally in major outlet centers .2022 asia factory stores offer selections of our menswear , womenswear , children 2019s apparel , accessories and fragrances .ranging in size from approximately 1000 to 12000 square feet , with an average of approximately 5000 square feet , these stores are primarily located throughout japan and in or near other major cities within the asia-pacific region , principally in major outlet centers .factory stores obtain products from our suppliers , our product licensing partners and our retail and e-commerce stores .concessions-based shop-within-shops in asia , the terms of trade for shop-within-shops are largely conducted on a concessions basis , whereby inventory continues to be owned by us ( not the department store ) until ultimate sale to the end consumer and the salespeople involved in the sales transaction are generally our employees .as of april 2 , 2011 , we had 510 concessions-based shop-within-shops at approximately 236 retail locations dedicated to our ralph lauren-branded products , primarily in asia , including 178 concessions-based shop-in-shops related to the south korea licensed operations acquisition .the size of our concessions-based shop-within-shops typically ranges from approximately 180 to 3600 square feet .we share in the cost of these shop-within-shops with our department store partners. .
|
what percentage of factory retail stores as of april 2 , 2011 is asia?
|
10%
|
{
"answer": "10%",
"decimal": 0.1,
"type": "percentage"
}
|
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.