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the table below represents unrealized losses related to derivative amounts included in 201caccumulated other comprehensive loss 201d for the years ended december 31 , ( in thousands ) : balance in accumulated other comprehensive loss .
[['contract type', 'balance in accumulated other comprehensive loss 2009', 'balance in accumulated other comprehensive loss 2008'], ['interest rate swaps', '$ 13053', '$ 18874']]
note 9 2013 fair value measurements the company uses the fair value hierarchy , which prioritizes the inputs used to measure the fair value of certain of its financial instruments .the hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities ( level 1 measurement ) and the lowest priority to unobservable inputs ( level 3 measurement ) .the three levels of the fair value hierarchy are set forth below : 2022 level 1 2013 quoted prices are available in active markets for identical assets or liabilities as of the reporting date .active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis .2022 level 2 2013 pricing inputs are other than quoted prices in active markets included in level 1 , which are either directly or indirectly observable as of the reporting date .level 2 includes those financial instruments that are valued using models or other valuation methodologies .these models are primarily industry-standard models that consider various assumptions , including time value , volatility factors , and current market and contractual prices for the underlying instruments , as well as other relevant economic measures .substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument , can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace .2022 level 3 2013 pricing inputs include significant inputs that are generally less observable from objective sources .these inputs may be used with internally developed methodologies that result in management 2019s best estimate of fair value from the perspective of a market participant .the fair value of the interest rate swap transactions are based on the discounted net present value of the swap using third party quotes ( level 2 ) .changes in fair market value are recorded in other comprehensive income ( loss ) , and changes resulting from ineffectiveness are recorded in current earnings .assets and liabilities measured at fair value are based on one or more of three valuation techniques .the three valuation techniques are identified in the table below and are as follows : a ) market approach 2013 prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities b ) cost approach 2013 amount that would be required to replace the service capacity of an asset ( replacement cost ) c ) income approach 2013 techniques to convert future amounts to a single present amount based on market expectations ( including present value techniques , option-pricing and excess earnings models ) .
|
what is the percentage change in the balance of accumulated other comprehensive loss from 2008 to 2009?
|
-30.8%
|
{
"answer": "-30.8%",
"decimal": -0.308,
"type": "percentage"
}
| |
higher average borrowings .additionally , the recapitalization that occurred late in the first quarter of 2005 resulted in a full year of interest in 2006 as compared to approximately ten months in 2005 .the increase in interest expense in 2005 as compared to 2004 also resulted from the recapitalization in 2005 .income tax expense income tax expense totaled $ 150.2 million , $ 116.1 million and $ 118.3 million for 2006 , 2005 and 2004 , respectively .this resulted in an effective tax rate of 37.2% ( 37.2 % ) , 37.2% ( 37.2 % ) and 37.6% ( 37.6 % ) for 2006 , 2005 and 2004 , respectively .net earnings net earnings totaled $ 259.1 million , $ 196.6 and $ 189.4 million for 2006 , 2005 and 2004 , respectively , or $ 1.37 , $ 1.53 and $ 1.48 per diluted share , respectively .segment results of operations transaction processing services ( in thousands ) .
[['', '2006', '2005', '2004'], ['processing and services revenues', '$ 2458777', '$ 1208430', '$ 892033'], ['cost of revenues', '1914148', '904124', '667078'], ['gross profit', '544629', '304306', '224955'], ['selling general and administrative expenses', '171106', '94889', '99581'], ['research and development costs', '70879', '85702', '54038'], ['operating income', '$ 302644', '$ 123715', '$ 71336']]
revenues for the transaction processing services segment are derived from three main revenue channels ; enterprise solutions , integrated financial solutions and international .revenues from transaction processing services totaled $ 2458.8 million , $ 1208.4 and $ 892.0 million for 2006 , 2005 and 2004 , respectively .the overall segment increase of $ 1250.4 million during 2006 , as compared to 2005 was primarily attributable to the certegy merger which contributed $ 1067.2 million to the overall increase .the majority of the remaining 2006 growth is attributable to organic growth within the historically owned integrated financial solutions and international revenue channels , with international including $ 31.9 million related to the newly formed business process outsourcing operation in brazil .the overall segment increase of $ 316.4 in 2005 as compared to 2004 results from the inclusion of a full year of results for the 2004 acquisitions of aurum , sanchez , kordoba , and intercept , which contributed $ 301.1 million of the increase .cost of revenues for the transaction processing services segment totaled $ 1914.1 million , $ 904.1 million and $ 667.1 million for 2006 , 2005 and 2004 , respectively .the overall segment increase of $ 1010.0 million during 2006 as compared to 2005 was primarily attributable to the certegy merger which contributed $ 848.2 million to the increase .gross profit as a percentage of revenues ( 201cgross margin 201d ) was 22.2% ( 22.2 % ) , 25.2% ( 25.2 % ) and 25.2% ( 25.2 % ) for 2006 , 2005 and 2004 , respectively .the decrease in gross profit in 2006 as compared to 2005 is primarily due to the february 1 , 2006 certegy merger , which businesses typically have lower margins than those of the historically owned fis businesses .incremental intangible asset amortization relating to the certegy merger also contributed to the decrease in gross margin .included in cost of revenues was depreciation and amortization of $ 272.4 million , $ 139.8 million , and $ 94.6 million for 2006 , 2005 and 2004 , respectively .selling , general and administrative expenses totaled $ 171.1 million , $ 94.9 million and $ 99.6 million for 2006 , 2005 and 2004 , respectively .the increase in 2006 compared to 2005 is primarily attributable to the certegy merger which contributed $ 73.7 million to the overall increase of $ 76.2 million .the decrease of $ 4.7 million in 2005 as compared to 2004 is primarily attributable to the effect of acquisition related costs in 2004 .included in selling , general and administrative expenses was depreciation and amortization of $ 11.0 million , $ 9.1 million and $ 2.3 million for 2006 , 2005 and 2004 , respectively. .
|
what is the gross profit margin for 2006?
|
22.2%
|
{
"answer": "22.2%",
"decimal": 0.222,
"type": "percentage"
}
| |
vertex pharmaceuticals incorporated notes to consolidated financial statements ( continued ) i .altus investment ( continued ) of the offering , held 450000 shares of redeemable preferred stock , which are not convertible into common stock and which are redeemable for $ 10.00 per share plus annual dividends of $ 0.50 per share , which have been accruing since the redeemable preferred stock was issued in 1999 , at vertex 2019s option on or after december 31 , 2010 , or by altus at any time .the company was restricted from trading altus securities for a period of six months following the initial public offering .when the altus securities trading restrictions expired , the company sold the 817749 shares of altus common stock for approximately $ 11.7 million , resulting in a realized gain of approximately $ 7.7 million in august 2006 .additionally when the restrictions expired , the company began accounting for the altus warrants as derivative instruments under the financial accounting standards board statement no .fas 133 , 201caccounting for derivative instruments and hedging activities 201d ( 201cfas 133 201d ) .in accordance with fas 133 , in the third quarter of 2006 , the company recorded the altus warrants on its consolidated balance sheet at a fair market value of $ 19.1 million and recorded an unrealized gain on the fair market value of the altus warrants of $ 4.3 million .in the fourth quarter of 2006 the company sold the altus warrants for approximately $ 18.3 million , resulting in a realized loss of $ 0.7 million .as a result of the company 2019s sales of altus common stock and altus warrrants in 2006 , the company recorded a realized gain on a sale of investment of $ 11.2 million .in accordance with the company 2019s policy , as outlined in note b , 201caccounting policies , 201d the company assessed its investment in altus , which it accounts for using the cost method , and determined that there had not been any adjustments to the fair values of that investment that would require the company to write down the investment basis of the asset , in 2005 and 2006 .the company 2019s cost basis carrying value in its outstanding equity and warrants of altus was $ 18.9 million at december 31 , 2005 .j .accrued expenses and other current liabilities accrued expenses and other current liabilities consist of the following at december 31 ( in thousands ) : k .commitments the company leases its facilities and certain equipment under non-cancelable operating leases .the company 2019s leases have terms through april 2018 .the term of the kendall square lease began january 1 , 2003 and lease payments commenced in may 2003 .the company had an obligation under the kendall square lease , staged through 2006 , to build-out the space into finished laboratory and office space .this lease will expire in 2018 , and the company has the option to extend the term for two consecutive terms of ten years each , ultimately expiring in 2038 .the company occupies and uses for its operations approximately 120000 square feet of the kendall square facility .the company has sublease arrangements in place for the remaining rentable square footage of the kendall square facility , with initial terms that expires in april 2011 and august 2012 .see note e , 201crestructuring 201d for further information. .
[['', '2006', '2005'], ['research and development contract costs', '$ 57761', '$ 20098'], ['payroll and benefits', '25115', '15832'], ['professional fees', '3848', '4816'], ['other', '4635', '1315'], ['total', '$ 91359', '$ 42061']]
research and development contract costs $ 57761 $ 20098 payroll and benefits 25115 15832 professional fees 3848 4816 4635 1315 $ 91359 $ 42061 .
|
what was the average price per share , in dollars , of the stock the company sold in august 2006?
|
14.3
|
{
"answer": "14.3",
"decimal": 14.3,
"type": "float"
}
| |
item 5 .market for the registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following graph compares annual total return of our common stock , the standard & poor 2019s 500 composite stock index ( 201cs&p 500 index 201d ) and our peer group ( 201cloews peer group 201d ) for the five years ended december 31 , 2016 .the graph assumes that the value of the investment in our common stock , the s&p 500 index and the loews peer group was $ 100 on december 31 , 2011 and that all dividends were reinvested. .
[['', '2011', '2012', '2013', '2014', '2015', '2016'], ['loews common stock', '100.0', '108.91', '129.64', '113.59', '104.47', '128.19'], ['s&p 500 index', '100.0', '116.00', '153.57', '174.60', '177.01', '198.18'], ['loews peer group ( a )', '100.0', '113.39', '142.85', '150.44', '142.44', '165.34']]
( a ) the loews peer group consists of the following companies that are industry competitors of our principal operating subsidiaries : chubb limited ( name change from ace limited after it acquired the chubb corporation on january 15 , 2016 ) , w.r .berkley corporation , the chubb corporation ( included through january 15 , 2016 when it was acquired by ace limited ) , energy transfer partners l.p. , ensco plc , the hartford financial services group , inc. , kinder morgan energy partners , l.p .( included through november 26 , 2014 when it was acquired by kinder morgan inc. ) , noble corporation , spectra energy corp , transocean ltd .and the travelers companies , inc .dividend information we have paid quarterly cash dividends in each year since 1967 .regular dividends of $ 0.0625 per share of loews common stock were paid in each calendar quarter of 2016 and 2015. .
|
in 2016 what was the ratio of the s&p 500 index to loews common stock overall growth from 2011 to 2016
|
1.5
|
{
"answer": "1.5",
"decimal": 1.5,
"type": "float"
}
|
for every growth unit of loews common stock the s&p 500 index grew by 1.5
|
2022 the failure of our information systems to function as intended or their penetration by outside parties with the intent to corrupt them or our failure to comply with privacy laws and regulations could result in business disruption , litigation and regulatory action , and loss of revenue , assets or personal or other confidential data .we use information systems to help manage business processes , collect and interpret business data and communicate internally and externally with employees , suppliers , customers and others .some of these information systems are managed by third-party service providers .we have backup systems and business continuity plans in place , and we take care to protect our systems and data from unauthorized access .nevertheless , failure of our systems to function as intended , or penetration of our systems by outside parties intent on extracting or corrupting information or otherwise disrupting business processes , could place us at a competitive disadvantage , result in a loss of revenue , assets or personal or other sensitive data , litigation and regulatory action , cause damage to our reputation and that of our brands and result in significant remediation and other costs .failure to protect personal data and respect the rights of data subjects could subject us to substantial fines under regulations such as the eu general data protection regulation .2022 we may be required to replace third-party contract manufacturers or service providers with our own resources .in certain instances , we contract with third parties to manufacture some of our products or product parts or to provide other services .we may be unable to renew these agreements on satisfactory terms for numerous reasons , including government regulations .accordingly , our costs may increase significantly if we must replace such third parties with our own resources .item 1b .unresolved staff comments .item 2 .properties .at december 31 , 2017 , we operated and owned 46 manufacturing facilities and maintained contract manufacturing relationships with 25 third-party manufacturers across 23 markets .in addition , we work with 38 third-party operators in indonesia who manufacture our hand-rolled cigarettes .pmi-owned manufacturing facilities eema asia america canada total .
[['', 'eu ( 1 )', 'eema', 'asia', 'latinamerica&canada', 'total'], ['fully integrated', '7', '8', '9', '7', '31'], ['make-pack', '3', '2014', '1', '2', '6'], ['other', '3', '1', '3', '2', '9'], ['total', '13', '9', '13', '11', '46']]
( 1 ) includes facilities that produced heated tobacco units in 2017 .in 2017 , 23 of our facilities each manufactured over 10 billion cigarettes , of which eight facilities each produced over 30 billion units .our largest factories are in karawang and sukorejo ( indonesia ) , izmir ( turkey ) , krakow ( poland ) , st .petersburg and krasnodar ( russia ) , batangas and marikina ( philippines ) , berlin ( germany ) , kharkiv ( ukraine ) , and kutna hora ( czech republic ) .our smallest factories are mostly in latin america and asia , where due to tariff and other constraints we have established small manufacturing units in individual markets .we will continue to optimize our manufacturing base , taking into consideration the evolution of trade blocks .the plants and properties owned or leased and operated by our subsidiaries are maintained in good condition and are believed to be suitable and adequate for our present needs .we are integrating the production of heated tobacco units into a number of our existing manufacturing facilities and progressing with our plans to build manufacturing capacity for our other rrp platforms. .
|
what portion of total facilities are fully integrated?
|
67.4%
|
{
"answer": "67.4%",
"decimal": 0.674,
"type": "percentage"
}
| |
entergy corporation and subsidiaries notes to financial statements this difference as a regulatory asset or liability on an ongoing basis , resulting in a zero net balance for the regulatory asset at the end of the lease term .the amount was a net regulatory liability of $ 61.6 million and $ 27.8 million as of december 31 , 2013 and 2012 , respectively .as of december 31 , 2013 , system energy had future minimum lease payments ( reflecting an implicit rate of 5.13% ( 5.13 % ) ) , which are recorded as long-term debt , as follows : amount ( in thousands ) .
[['', 'amount ( in thousands )'], ['2014', '$ 51637'], ['2015', '52253'], ['2016', '13750'], ['2017', '13750'], ['2018', '13750'], ['years thereafter', '247500'], ['total', '392640'], ['less : amount representing interest', '295226'], ['present value of net minimum lease payments', '$ 97414']]
.
|
what is the percent change in future minimum lease payments from 2015 to 2016?
|
280%
|
{
"answer": "280%",
"decimal": 2.8,
"type": "percentage"
}
| |
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 the table below sets forth the pre-tax accumulated other comprehensive income ( loss ) expected to be recognized as an increase ( decrease ) to income from continuing operations before income taxes over the next twelve months as of december 31 , 2011 for the following types of derivative instruments : accumulated other comprehensive income ( loss ) ( 1 ) ( in millions ) .
[['', 'accumulated other comprehensive income ( loss ) ( 1 ) ( in millions )'], ['interest rate derivatives', '$ -101 ( 101 )'], ['cross currency derivatives', '$ -1 ( 1 )'], ['foreign currency derivatives', '$ 7'], ['commodity and other derivatives', '$ -1 ( 1 )']]
( 1 ) excludes a loss of $ 94 million expected to be recognized as part of the sale of cartagena , which closed on february 9 , 2012 , and is further discussed in note 23 2014acquisitions and dispositions .the balance in accumulated other comprehensive loss related to derivative transactions will be reclassified into earnings as interest expense is recognized for interest rate hedges and cross currency swaps ( except for the amount reclassified to foreign currency transaction gains and losses to offset the remeasurement of the foreign currency-denominated debt being hedged by the cross currency swaps ) , as depreciation is recognized for interest rate hedges during construction , as foreign currency transaction gains and losses are recognized for hedges of foreign currency exposure , and as electricity sales and fuel purchases are recognized for hedges of forecasted electricity and fuel transactions .these balances are included in the consolidated statements of cash flows as operating and/or investing activities based on the nature of the underlying transaction .for the years ended december 31 , 2011 , 2010 and 2009 , pre-tax gains ( losses ) of $ 0 million , $ ( 1 ) million , and $ 0 million net of noncontrolling interests , respectively , were reclassified into earnings as a result of the discontinuance of a cash flow hedge because it was probable that the forecasted transaction would not occur by the end of the originally specified time period ( as documented at the inception of the hedging relationship ) or within an additional two-month time period thereafter. .
|
the loss on the sale of cartagena is what percent of the aoci impact of interest rate derivatives?
|
94%
|
{
"answer": "94%",
"decimal": 0.94,
"type": "percentage"
}
| |
46 d e v o n e n e r g y a n n u a l r e p o r t 2 0 0 4 contents of gas produced , transportation availability and costs and demand for the various products derived from oil , natural gas and ngls .substantially all of devon 2019s revenues are attributable to sales , processing and transportation of these three commodities .consequently , our financial results and resources are highly influenced by price volatility .estimates for devon 2019s future production of oil , natural gas and ngls are based on the assumption that market demand and prices will continue at levels that allow for profitable production of these products .there can be no assurance of such stability .most of our canadian production is subject to government royalties that fluctuate with prices .thus , price fluctuations can affect reported production .also , our international production is governed by payout agreements with the governments of the countries in which we operate .if the payout under these agreements is attained earlier than projected , devon 2019s net production and proved reserves in such areas could be reduced .estimates for our future processing and transport of oil , natural gas and ngls are based on the assumption that market demand and prices will continue at levels that allow for profitable processing and transport of these products .there can be no assurance of such stability .the production , transportation , processing and marketing of oil , natural gas and ngls are complex processes which are subject to disruption from many causes .these causes include transportation and processing availability , mechanical failure , human error , meteorological events including , but not limited to , hurricanes , and numerous other factors .the following forward-looking statements were prepared assuming demand , curtailment , producibility and general market conditions for devon 2019s oil , natural gas and ngls during 2005 will be substantially similar to those of 2004 , unless otherwise noted .unless otherwise noted , all of the following dollar amounts are expressed in u.s .dollars .amounts related to canadian operations have been converted to u.s .dollars using a projected average 2005 exchange rate of $ 0.82 u.s .to $ 1.00 canadian .the actual 2005 exchange rate may vary materially from this estimate .such variations could have a material effect on the following estimates .though we have completed several major property acquisitions and dispositions in recent years , these transactions are opportunity driven .thus , the following forward-looking data excludes the financial and operating effects of potential property acquisitions or divestitures , except as discussed in 201cproperty acquisitions and divestitures , 201d during the year 2005 .the timing and ultimate results of such acquisition and divestiture activity is difficult to predict , and may vary materially from that discussed in this report .geographic reporting areas for 2005 the following estimates of production , average price differentials and capital expenditures are provided separately for each of the following geographic areas : 2022 the united states onshore ; 2022 the united states offshore , which encompasses all oil and gas properties in the gulf of mexico ; 2022 canada ; and 2022 international , which encompasses all oil and gas properties that lie outside of the united states and canada .year 2005 potential operating items the estimates related to oil , gas and ngl production , operating costs and dd&a set forth in the following paragraphs are based on estimates for devon 2019s properties other than those that have been designated for possible sale ( see 201cproperty acquisitions and divestitures 201d ) .therefore , the following estimates exclude the results of the potential sale properties for the entire year .oil , gas and ngl production set forth in the following paragraphs are individual estimates of devon 2019s oil , gas and ngl production for 2005 .on a combined basis , devon estimates its 2005 oil , gas and ngl production will total 217 mmboe .of this total , approximately 92% ( 92 % ) is estimated to be produced from reserves classified as 201cproved 201d at december 31 , 2004 .oil production we expect our oil production in 2005 to total 60 mmbbls .of this total , approximately 95% ( 95 % ) is estimated to be produced from reserves classified as 201cproved 201d at december 31 , 2004 .the expected production by area is as follows: .
[['', '( mmbbls )'], ['united states onshore', '12'], ['united states offshore', '10'], ['canada', '12'], ['international', '26']]
oil prices 2013 fixed through various price swaps , devon has fixed the price it will receive in 2005 on a portion of its oil production .the following table includes information on this fixed-price production by area .where necessary , the prices have been adjusted for certain transportation costs that are netted against the prices recorded by devon. .
|
in 2005 , how much , is us dollars , would $ 20 canadian be?
|
16.4
|
{
"answer": "16.4",
"decimal": 16.4,
"type": "float"
}
| |
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 decrease in estimated interest expense payments?
|
3.9%
|
{
"answer": "3.9%",
"decimal": 0.039,
"type": "percentage"
}
| |
n o t e s t o c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( continued ) ace limited and subsidiaries share-based compensation expense for stock options and shares issued under the employee stock purchase plan ( espp ) amounted to $ 24 million ( $ 22 million after tax or $ 0.07 per basic and diluted share ) , $ 23 million ( $ 21 million after tax or $ 0.06 per basic and diluted share ) , and $ 20 million ( $ 18 million after tax or $ 0.05 per basic and diluted share ) for the years ended december 31 , 2008 , 2007 , and 2006 , respectively .for the years ended december 31 , 2008 , 2007 and 2006 , the expense for the restricted stock was $ 101 million ( $ 71 million after tax ) , $ 77 million ( $ 57 million after tax ) , and $ 65 million ( $ 49 million after tax ) , respectively .during 2004 , the company established the ace limited 2004 long-term incentive plan ( the 2004 ltip ) .once the 2004 ltip was approved by shareholders , it became effective february 25 , 2004 .it will continue in effect until terminated by the board .this plan replaced the ace limited 1995 long-term incentive plan , the ace limited 1995 outside directors plan , the ace limited 1998 long-term incentive plan , and the ace limited 1999 replacement long-term incentive plan ( the prior plans ) except as to outstanding awards .during the company 2019s 2008 annual general meeting , shareholders voted to increase the number of common shares authorized to be issued under the 2004 ltip from 15000000 common shares to 19000000 common shares .accordingly , under the 2004 ltip , a total of 19000000 common shares of the company are authorized to be issued pursuant to awards made as stock options , stock appreciation rights , performance shares , performance units , restricted stock , and restricted stock units .the maximum number of shares that may be delivered to participants and their beneficiaries under the 2004 ltip shall be equal to the sum of : ( i ) 19000000 shares ; and ( ii ) any shares that are represented by awards granted under the prior plans that are forfeited , expired , or are canceled after the effective date of the 2004 ltip , without delivery of shares or which result in the forfeiture of the shares back to the company to the extent that such shares would have been added back to the reserve under the terms of the applicable prior plan .as of december 31 , 2008 , a total of 10591090 shares remain available for future issuance under this plan .under the 2004 ltip , 3000000 common shares are authorized to be issued under the espp .as of december 31 , 2008 , a total of 989812 common shares remain available for issuance under the espp .stock options the company 2019s 2004 ltip provides for grants of both incentive and non-qualified stock options principally at an option price per share of 100 percent of the fair value of the company 2019s common shares on the date of grant .stock options are generally granted with a 3-year vesting period and a 10-year term .the stock options vest in equal annual installments over the respective vesting period , which is also the requisite service period .included in the company 2019s share-based compensation expense in the year ended december 31 , 2008 , is the cost related to the unvested portion of the 2005-2008 stock option grants .the fair value of the stock options was estimated on the date of grant using the black-scholes option-pricing model that uses the assumptions noted in the following table .the risk-free inter- est rate is based on the u.s .treasury yield curve in effect at the time of grant .the expected life ( estimated period of time from grant to exercise date ) was estimated using the historical exercise behavior of employees .expected volatility was calculated as a blend of ( a ) historical volatility based on daily closing prices over a period equal to the expected life assumption , ( b ) long- term historical volatility based on daily closing prices over the period from ace 2019s initial public trading date through the most recent quarter , and ( c ) implied volatility derived from ace 2019s publicly traded options .the fair value of the options issued is estimated on the date of grant using the black-scholes option-pricing model , with the following weighted-average assumptions used for grants for the years indicated: .
[['', '2008', '2007', '2006'], ['dividend yield', '1.80% ( 1.80 % )', '1.78% ( 1.78 % )', '1.64% ( 1.64 % )'], ['expected volatility', '32.20% ( 32.20 % )', '27.43% ( 27.43 % )', '31.29% ( 31.29 % )'], ['risk-free interest rate', '3.15% ( 3.15 % )', '4.51% ( 4.51 % )', '4.60% ( 4.60 % )'], ['forfeiture rate', '7.5% ( 7.5 % )', '7.5% ( 7.5 % )', '7.5% ( 7.5 % )'], ['expected life', '5.7 years', '5.6 years', '6 years']]
.
|
what is the percentage change in dividend yield from 2007 to 2008?
|
1.1%
|
{
"answer": "1.1%",
"decimal": 0.011000000000000001,
"type": "percentage"
}
| |
entergy arkansas 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years. .
[['2017', '2016', '2015', '2014'], ['( in thousands )', '( in thousands )', '( in thousands )', '( in thousands )'], ['( $ 166137 )', '( $ 51232 )', '( $ 52742 )', '$ 2218']]
see note 4 to the financial statements for a description of the money pool .entergy arkansas has a credit facility in the amount of $ 150 million scheduled to expire in august 2022 .entergy arkansas also has a $ 20 million credit facility scheduled to expire in april 2018 . a0 a0the $ 150 million credit facility permits the issuance of letters of credit against $ 5 million of the borrowing capacity of the facility .as of december 31 , 2017 , there were no cash borrowings and no letters of credit outstanding under the credit facilities .in addition , entergy arkansas is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations to miso .as of december 31 , 2017 , a $ 1 million letter of credit was outstanding under entergy arkansas 2019s uncommitted letter of credit facility .see note 4 to the financial statements for further discussion of the credit facilities .the entergy arkansas nuclear fuel company variable interest entity has a credit facility in the amount of $ 80 million scheduled to expire in may 2019 . a0 a0as of december 31 , 2017 , $ 50 million in letters of credit to support a like amount of commercial paper issued and $ 24.9 million in loans were outstanding under the entergy arkansas nuclear fuel company variable interest entity credit facility .see note 4 to the financial statements for further discussion of the nuclear fuel company variable interest entity credit facility .entergy arkansas obtained authorizations from the ferc through october 2019 for short-term borrowings not to exceed an aggregate amount of $ 250 million at any time outstanding and borrowings by its nuclear fuel company variable interest entity .see note 4 to the financial statements for further discussion of entergy arkansas 2019s short-term borrowing limits .the long-term securities issuances of entergy arkansas are limited to amounts authorized by the apsc , and the current authorization extends through december 2018 .entergy arkansas , inc .and subsidiaries management 2019s financial discussion and analysis state and local rate regulation and fuel-cost recovery retail rates 2015 base rate filing in april 2015 , entergy arkansas filed with the apsc for a general change in rates , charges , and tariffs .the filing notified the apsc of entergy arkansas 2019s intent to implement a forward test year formula rate plan pursuant to arkansas legislation passed in 2015 , and requested a retail rate increase of $ 268.4 million , with a net increase in revenue of $ 167 million .the filing requested a 10.2% ( 10.2 % ) return on common equity .in september 2015 the apsc staff and intervenors filed direct testimony , with the apsc staff recommending a revenue requirement of $ 217.9 million and a 9.65% ( 9.65 % ) return on common equity .in december 2015 , entergy arkansas , the apsc staff , and certain of the intervenors in the rate case filed with the apsc a joint motion for approval of a settlement of the case that proposed a retail rate increase of approximately $ 225 million with a net increase in revenue of approximately $ 133 million ; an authorized return on common equity of 9.75% ( 9.75 % ) ; and a formula rate plan tariff that provides a +/- 50 basis point band around the 9.75% ( 9.75 % ) allowed return on common equity .a significant portion of the rate increase is related to entergy arkansas 2019s acquisition in march 2016 of union power station power block 2 for a base purchase price of $ 237 million .the settlement agreement also provided for amortization over a 10-year period of $ 7.7 million of previously-incurred costs related to ano post-fukushima compliance and $ 9.9 million of previously-incurred costs related to ano flood barrier compliance .a settlement hearing was held in january 2016 .in february 2016 the apsc approved the settlement with one exception that reduced the retail rate increase proposed in the settlement by $ 5 million .the settling parties agreed to the apsc modifications in february 2016 .the new rates were effective february 24 , 2016 and began billing with the first billing cycle of april 2016 .in march 2016 , entergy arkansas made a compliance filing regarding the .
|
what percent of the aggregate borrowing capacity is set to expire in 2019?
|
32%
|
{
"answer": "32%",
"decimal": 0.32,
"type": "percentage"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 7 .derivative financial instruments under the terms of the credit facility , the company is required to enter into interest rate protection agreements on at least 50% ( 50 % ) of its variable rate debt .under these agreements , the company is exposed to credit risk to the extent that a counterparty fails to meet the terms of a contract .such exposure is limited to the current value of the contract at the time the counterparty fails to perform .the company believes its contracts as of december 31 , 2004 are with credit worthy institutions .as of december 31 , 2004 , the company had two interest rate caps outstanding with an aggregate notional amount of $ 350.0 million ( each at an interest rate of 6.0% ( 6.0 % ) ) that expire in 2006 .as of december 31 , 2003 , the company had three interest rate caps outstanding with an aggregate notional amount of $ 500.0 million ( each at a rate of 5.0% ( 5.0 % ) ) that expired in 2004 .as of december 31 , 2004 and 2003 , there was no fair value associated with any of these interest rate caps .during the year ended december 31 , 2003 , the company recorded an unrealized loss of approximately $ 0.3 million ( net of a tax benefit of approximately $ 0.2 million ) in other comprehensive loss for the change in fair value of cash flow hedges and reclassified $ 5.9 million ( net of a tax benefit of approximately $ 3.2 million ) into results of operations .during the year ended december 31 , 2002 , the company recorded an unrealized loss of approximately $ 9.1 million ( net of a tax benefit of approximately $ 4.9 million ) in other comprehensive loss for the change in fair value of cash flow hedges and reclassified $ 19.5 million ( net of a tax benefit of approximately $ 10.5 million ) into results of operations .hedge ineffectiveness resulted in a gain of approximately $ 1.0 million for the year ended december 31 , 2002 , which is recorded in other expense in the accompanying consolidated statement of operations .the company records the changes in fair value of its derivative instruments that are not accounted for as hedges in other expense .the company did not reclassify any derivative losses into its statement of operations for the year ended december 31 , 2004 and does not anticipate reclassifying any derivative losses into its statement of operations within the next twelve months , as there are no amounts included in other comprehensive loss as of december 31 , 2004 .8 .commitments and contingencies lease obligations 2014the company leases certain land , office and tower space under operating leases that expire over various terms .many of the leases contain renewal options with specified increases in lease payments upon exercise of the renewal option .escalation clauses present in operating leases , excluding those tied to cpi or other inflation-based indices , are straight-lined over the term of the lease .( see note 1. ) future minimum rental payments under non-cancelable operating leases include payments for certain renewal periods at the company 2019s option because failure to renew could result in a loss of the applicable tower site and related revenues from tenant leases , thereby making it reasonably assured that the company will renew the lease .such payments in effect at december 31 , 2004 are as follows ( in thousands ) : year ending december 31 .
[['2005', '$ 106116'], ['2006', '106319'], ['2007', '106095'], ['2008', '106191'], ['2009', '106214'], ['thereafter', '1570111'], ['total', '$ 2101046']]
aggregate rent expense ( including the effect of straight-line rent expense ) under operating leases for the years ended december 31 , 2004 , 2003 and 2002 approximated $ 118741000 , $ 113956000 , and $ 109644000 , respectively. .
|
what is the percentage change in aggregate rent expense from 2002 to 2003?
|
3.9%
|
{
"answer": "3.9%",
"decimal": 0.039,
"type": "percentage"
}
| |
for the years ended december a031 , 2018 , 2017 and 2016 , the amounts recognized in principal transactions in the consolidated statement of income related to derivatives not designated in a qualifying hedging relationship , as well as the underlying non-derivative instruments , are presented in note a06 to the consolidated financial statements .citigroup presents this disclosure by showing derivative gains and losses related to its trading activities together with gains and losses related to non-derivative instruments within the same trading portfolios , as this represents how these portfolios are risk managed .the amounts recognized in other revenue in the consolidated statement of income related to derivatives not designated in a qualifying hedging relationship are shown below .the table below does not include any offsetting gains ( losses ) on the economically hedged items to the extent that such amounts are also recorded in other revenue .gains ( losses ) included in other revenue year ended december 31 .
[['in millions of dollars', 'gains ( losses ) included inother revenue year ended december 31 , 2018', 'gains ( losses ) included inother revenue year ended december 31 , 2017', 'gains ( losses ) included inother revenue year ended december 31 , 2016'], ['interest rate contracts', '$ -25 ( 25 )', '$ -73 ( 73 )', '$ 51'], ['foreign exchange', '-197 ( 197 )', '2062', '-847 ( 847 )'], ['credit derivatives', '-155 ( 155 )', '-538 ( 538 )', '-1174 ( 1174 )'], ['total', '$ -377 ( 377 )', '$ 1451', '$ -1970 ( 1970 )']]
accounting for derivative hedging citigroup accounts for its hedging activities in accordance with asc 815 , derivatives and hedging .as a general rule , hedge accounting is permitted where the company is exposed to a particular risk , such as interest rate or foreign exchange risk , that causes changes in the fair value of an asset or liability or variability in the expected future cash flows of an existing asset , liability or a forecasted transaction that may affect earnings .derivative contracts hedging the risks associated with changes in fair value are referred to as fair value hedges , while contracts hedging the variability of expected future cash flows are cash flow hedges .hedges that utilize derivatives or debt instruments to manage the foreign exchange risk associated with equity investments in non-u.s.-dollar-functional- currency foreign subsidiaries ( net investment in a foreign operation ) are net investment hedges .to qualify as an accounting hedge under the hedge accounting rules ( versus an economic hedge where hedge accounting is not applied ) , a hedging relationship must be highly effective in offsetting the risk designated as being hedged .the hedging relationship must be formally documented at inception , detailing the particular risk management objective and strategy for the hedge .this includes the item and risk ( s ) being hedged , the hedging instrument being used and how effectiveness will be assessed .the effectiveness of these hedging relationships is evaluated at hedge inception and on an ongoing basis both on a retrospective and prospective basis , typically using quantitative measures of correlation , with hedge ineffectiveness measured and recorded in current earnings .hedge effectiveness assessment methodologies are performed in a similar manner for similar hedges , and are used consistently throughout the hedging relationships .the assessment of effectiveness may exclude changes in the value of the hedged item that are unrelated to the risks being hedged and the changes in fair value of the derivative associated with time value .prior to january 1 , 2018 , these excluded items were recognized in current earnings for the hedging derivative , while changes in the value of a hedged item that were not related to the hedged risk were not recorded .upon adoption of asc 2017-12 , citi excludes changes in the cross currency basis associated with cross currency swaps from the assessment of hedge effectiveness and records it in other comprehensive income .discontinued hedge accounting a hedging instrument must be highly effective in accomplishing the hedge objective of offsetting either changes in the fair value or cash flows of the hedged item for the risk being hedged .management may voluntarily de-designate an accounting hedge at any time , but if a hedging relationship is not highly effective , it no longer qualifies for hedge accounting and must be de-designated .subsequent changes in the fair value of the derivative are recognized in other revenue or principal transactions , similar to trading derivatives , with no offset recorded related to the hedged item .for fair value hedges , any changes in the fair value of the hedged item remain as part of the basis of the asset or liability and are ultimately realized as an element of the yield on the item .for cash flow hedges , changes in fair value of the end-user derivative remain in accumulated other comprehensive income ( loss ) ( aoci ) and are included in the earnings of future periods when the forecasted hedged cash flows impact earnings .however , if it becomes probable that some or all of the hedged forecasted transactions will not occur , any amounts that remain in aoci related to these transactions must be immediately reflected in other revenue .the foregoing criteria are applied on a decentralized basis , consistent with the level at which market risk is managed , but are subject to various limits and controls .the underlying asset , liability or forecasted transaction may be an individual item or a portfolio of similar items. .
|
what was the change in millions in total gains ( losses ) included in other revenue between the year ended december 31 , 2016 and 2017?
|
3421
|
{
"answer": "3421",
"decimal": 3421,
"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 2014 ( in mmboe ) . .
[['', 'u.s .', 'canada', 'total'], ['proved undeveloped reserves as of december 31 2013', '258', '443', '701'], ['extensions and discoveries', '153', '8', '161'], ['revisions due to prices', '-1 ( 1 )', '-34 ( 34 )', '-35 ( 35 )'], ['revisions other than price', '-61 ( 61 )', '18', '-43 ( 43 )'], ['sale of reserves', '-4 ( 4 )', '-2 ( 2 )', '-6 ( 6 )'], ['conversion to proved developed reserves', '-40 ( 40 )', '-49 ( 49 )', '-89 ( 89 )'], ['proved undeveloped reserves as of december 31 2014', '305', '384', '689']]
at december 31 , 2014 , devon had 689 mmboe of proved undeveloped reserves .this represents a 2 percent decrease as compared to 2013 and represents 25 percent of total proved reserves .drilling and development activities increased devon 2019s proved undeveloped reserves 161 mmboe and resulted in the conversion of 89 mmboe , or 13 percent , of the 2013 proved undeveloped reserves to proved developed reserves .costs incurred related to the development and conversion of devon 2019s proved undeveloped reserves were approximately $ 1.0 billion for 2014 .additionally , revisions other than price decreased devon 2019s proved undeveloped reserves 43 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 , which were approximately 69 mmboe , relate to the dry-gas areas in the barnett shale in north texas .a significant amount of devon 2019s proved undeveloped reserves at the end of 2014 related to its jackfish operations .at december 31 , 2014 and 2013 , devon 2019s jackfish proved undeveloped reserves were 384 mmboe and 441 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 and steam-oil ratios .furthermore , development of these projects involves the up-front construction of steam injection/distribution and bitumen processing facilities .due to the large up-front capital investments and large reserves required to provide economic returns , the project conditions meet the specific circumstances requiring a period greater than 5 years for conversion to developed reserves .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 2014 2013 reserves increased 9 mmboe primarily due to higher gas prices in the barnett shale and the anadarko basin , partially offset by higher bitumen prices , which result in lower after-royalty volumes , in canada .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. .
|
what percentage of total proved undeveloped resources as of dec 31 , 2014 does extensions and discoveries and proved undeveloped resources as of dec 31 , 2013 account for?
|
125.1%
|
{
"answer": "125.1%",
"decimal": 1.251,
"type": "percentage"
}
| |
analog devices , inc .notes to consolidated financial statements 2014 ( continued ) depreciation expense for property , plant and equipment was $ 134.5 million , $ 130.1 million and $ 114.1 million in fiscal 2016 , 2015 and 2014 , respectively .the company reviews property , plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of assets may not be recoverable .recoverability of these assets is determined by comparison of their carrying amount to the future undiscounted cash flows the assets are expected to generate over their remaining economic lives .if such assets are considered to be impaired , the impairment to be recognized in earnings equals the amount by which the carrying value of the assets exceeds their fair value determined by either a quoted market price , if any , or a value determined by utilizing a discounted cash flow technique .if such assets are not impaired , but their useful lives have decreased , the remaining net book value is depreciated over the revised useful life .we have not recorded any material impairment charges related to our property , plant and equipment in fiscal 2016 , fiscal 2015 or fiscal 2014 .f .goodwill and intangible assets goodwill the company evaluates goodwill for impairment annually , as well as whenever events or changes in circumstances suggest that the carrying value of goodwill may not be recoverable .the company tests goodwill for impairment at the reporting unit level ( operating segment or one level below an operating segment ) on an annual basis on the first day of the fourth quarter ( on or about august 1 ) or more frequently if indicators of impairment exist .for the company 2019s latest annual impairment assessment that occurred as of july 31 , 2016 , the company identified its reporting units to be its seven operating segments .the performance of the test involves a two-step process .the first step of the quantitative impairment test involves comparing the fair values of the applicable reporting units with their aggregate carrying values , including goodwill .the company determines the fair value of its reporting units using a weighting of the income and market approaches .under the income approach , the company uses a discounted cash flow methodology which requires management to make significant estimates and assumptions related to forecasted revenues , gross profit margins , operating income margins , working capital cash flow , perpetual growth rates , and long-term discount rates , among others .for the market approach , the company uses the guideline public company method .under this method the company utilizes information from comparable publicly traded companies with similar operating and investment characteristics as the reporting units , to create valuation multiples that are applied to the operating performance of the reporting unit being tested , in order to obtain their respective fair values .in order to assess the reasonableness of the calculated reporting unit fair values , the company reconciles the aggregate fair values of its reporting units determined , as described above , to its current market capitalization , allowing for a reasonable control premium .if the carrying amount of a reporting unit , calculated using the above approaches , exceeds the reporting unit 2019s fair value , the company performs the second step of the goodwill impairment test to determine the amount of impairment loss .the second step of the goodwill impairment test involves comparing the implied fair value of the affected reporting unit 2019s goodwill with the carrying value of that reporting unit .there was no impairment of goodwill in any of the fiscal years presented .the company 2019s next annual impairment assessment will be performed as of the first day of the fourth quarter of the fiscal year ending october 28 , 2017 ( fiscal 2017 ) unless indicators arise that would require the company to reevaluate at an earlier date .the following table presents the changes in goodwill during fiscal 2016 and fiscal 2015: .
[['', '2016', '2015'], ['balance at beginning of year', '$ 1636526', '$ 1642438'], ['acquisition of hittite ( note 6 ) ( 1 )', '2014', '-1105 ( 1105 )'], ['goodwill adjustment related to other acquisitions ( 2 )', '44046', '3663'], ['foreign currency translation adjustment', '-1456 ( 1456 )', '-8470 ( 8470 )'], ['balance at end of year', '$ 1679116', '$ 1636526']]
( 1 ) amount in fiscal 2015 represents changes to goodwill as a result of finalizing the acquisition accounting related to the hittite acquisition .( 2 ) represents goodwill related to other acquisitions that were not material to the company on either an individual or aggregate basis .intangible assets the company reviews finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying value of assets may not be recoverable .recoverability of these assets is determined by comparison of their carrying value to the estimated future undiscounted cash flows the assets are expected to generate over their remaining .
|
what is the percentage change in the balance of goodwill from 2014 to 2015?
|
-0.4%
|
{
"answer": "-0.4%",
"decimal": -0.004,
"type": "percentage"
}
| |
notes to consolidated financial statements ( continued ) fair value measurements the fasb issued updated authoritative guidance in may 2011 to amend fair value measurements and related disclosures ; the guidance became effective for snap-on at the beginning of its 2012 fiscal year .this guidance relates to a major convergence project of the fasb and the international accounting standards board to improve international financial reporting standards ( 201cifrs 201d ) and u.s .gaap .this guidance resulted in a consistent definition of fair value and common requirements for measurement of and disclosure about fair value between ifrs and u.s .gaap .the guidance also changed some fair value measurement principles and enhanced disclosure requirements related to activities in level 3 of the fair value hierarchy .the adoption of this updated authoritative guidance had no impact on the company 2019s consolidated financial statements .disclosures relating to comprehensive income the fasb issued updated authoritative guidance in june 2011 to amend the presentation of comprehensive income in financial statements .the fasb also issued an accounting standards update in december 2011 that indefinitely deferred certain financial statement presentation provisions contained in its original june 2011 guidance .the guidance , which became effective for snap-on on a retrospective basis at the beginning of its 2012 fiscal year , gives companies the option to present other comprehensive income in either a single continuous statement or in two separate but consecutive statements .under both alternatives , companies are required to annually present each component of comprehensive income .the adoption of this updated authoritative guidance impacted the presentation of the company 2019s consolidated statements of comprehensive income , but it did not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income .note 2 : acquisitions snap-on acquired a 60% ( 60 % ) interest in snap-on asia manufacturing ( zhejiang ) co .ltd .( 201cxiaoshan 201d ) ( formerly known as wanda snap-on ( zhejiang ) co .ltd. ) , the company 2019s tool manufacturing operation in xiaoshan , china , in 2008 .snap-on acquired the remaining 40% ( 40 % ) redeemable noncontrolling interest in xiaoshan in april 2010 for a purchase price of $ 7.7 million and $ 0.1 million of transaction costs .note 3 : receivables trade and other accounts receivable snap-on 2019s trade and other accounts receivable primarily arise from the sale of tools , diagnostics and equipment to a broad range of industrial and commercial customers and to snap-on 2019s independent franchise van channel on a non- extended-term basis with payment terms generally ranging from 30 to 120 days .the components of snap-on 2019s trade and other accounts receivable as of 2012 and 2011 year end are as follows : ( amounts in millions ) 2012 2011 .
[['( amounts in millions )', '2012', '2011'], ['trade and other accounts receivable', '$ 516.9', '$ 485.5'], ['allowances for doubtful accounts', '-19.0 ( 19.0 )', '-22.0 ( 22.0 )'], ['total trade and other accounts receivable 2013 net', '$ 497.9', '$ 463.5']]
finance and contract receivables soc originates extended-term finance and contract receivables on sales of snap-on product sold through the u.s .franchisee and customer network and to snap-on 2019s industrial and other customers ; snap-on 2019s foreign finance subsidiaries provide similar financing internationally .interest income on finance and contract receivables is included in 201cfinancial services revenue 201d on the accompanying consolidated statements of earnings .74 snap-on incorporated .
|
in 2012 what was the allowance for doubtful accounts
|
3.7%
|
{
"answer": "3.7%",
"decimal": 0.037000000000000005,
"type": "percentage"
}
| |
humana inc .notes to consolidated financial statements 2014 ( continued ) 15 .stockholders 2019 equity as discussed in note 2 , we elected to early adopt new guidance related to accounting for employee share-based payments prospectively effective january 1 , 2016 .the adoption of this new guidance resulted in the recognition of approximately $ 20 million of tax benefits in net income in our consolidated statement of income for the three months ended march 31 , 2016 that had previously been recorded as additional paid-in capital in our consolidated balance sheet .dividends the following table provides details of dividend payments , excluding dividend equivalent rights , in 2014 , 2015 , and 2016 under our board approved quarterly cash dividend policy : payment amount per share amount ( in millions ) .
[['paymentdate', 'amountper share', 'totalamount ( in millions )'], ['2014', '$ 1.10', '$ 170'], ['2015', '$ 1.14', '$ 170'], ['2016', '$ 1.16', '$ 172']]
under the terms of the merger agreement , we agreed with aetna that our quarterly dividend would not exceed $ 0.29 per share prior to the closing or termination of the merger .on october 26 , 2016 , the board declared a cash dividend of $ 0.29 per share that was paid on january 27 , 2017 to stockholders of record on january 12 , 2017 , for an aggregate amount of $ 43 million .on february 14 , 2017 , following the termination of the merger agreement , the board declared a cash dividend of $ 0.40 per share , to be paid on april 28 , 2017 , to the stockholders of record on march 31 , 2017 .declaration and payment of future quarterly dividends is at the discretion of our board and may be adjusted as business needs or market conditions change .stock repurchases in september 2014 , our board of directors replaced a previous share repurchase authorization of up to $ 1 billion ( of which $ 816 million remained unused ) with an authorization for repurchases of up to $ 2 billion of our common shares exclusive of shares repurchased in connection with employee stock plans , which expired on december 31 , 2016 .under the share repurchase authorization , shares may have been purchased from time to time at prevailing prices in the open market , by block purchases , through plans designed to comply with rule 10b5-1 under the securities exchange act of 1934 , as amended , or in privately-negotiated transactions ( including pursuant to accelerated share repurchase agreements with investment banks ) , subject to certain regulatory restrictions on volume , pricing , and timing .pursuant to the merger agreement , after july 2 , 2015 , we were prohibited from repurchasing any of our outstanding securities without the prior written consent of aetna , other than repurchases of shares of our common stock in connection with the exercise of outstanding stock options or the vesting or settlement of outstanding restricted stock awards .accordingly , as announced on july 3 , 2015 , we suspended our share repurchase program. .
|
in 2014 what was the number of shares issued a dividend in millions
|
154.54
|
{
"answer": "154.54",
"decimal": 154.54,
"type": "float"
}
| |
intangible assets such as patents , customer-related intangible assets and other intangible assets with finite useful lives are amortized on a straight-line basis over their estimated economic lives .the weighted-average useful lives approximate the following: .
[['customer relationships', '25', 'years'], ['trademarks', '25', 'years'], ['completed technology/patents', '10', 'years'], ['other', '25', 'years']]
recoverability of intangible assets with finite useful lives is assessed in the same manner as property , plant and equipment as described above .income taxes : for purposes of the company 2019s consolidated financial statements for periods prior to the spin-off , income tax expense has been recorded as if the company filed tax returns on a stand-alone basis separate from ingersoll rand .this separate return methodology applies the accounting guidance for income taxes to the stand-alone financial statements as if the company was a stand-alone enterprise for the periods prior to the spin-off .therefore , cash tax payments and items of current and deferred taxes may not be reflective of the company 2019s actual tax balances prior to or subsequent to the spin-off .cash paid for income taxes , net of refunds for the twelve months ended december 31 , 2016 and 2015 was $ 10.4 million and $ 80.6 million , respectively .the 2016 net cash income taxes paid includes a refund of $ 46.2 million received from the canadian tax authorities .the income tax accounts reflected in the consolidated balance sheet as of december 31 , 2016 and 2015 include income taxes payable and deferred taxes allocated to the company at the time of the spin-off .the calculation of the company 2019s income taxes involves considerable judgment and the use of both estimates and allocations .deferred tax assets and liabilities are determined based on temporary differences between financial reporting and tax bases of assets and liabilities , applying enacted tax rates expected to be in effect for the year in which the differences are expected to reverse .the company recognizes future tax benefits , such as net operating losses and tax credits , to the extent that realizing these benefits is considered in its judgment to be more likely than not .the company regularly reviews the recoverability of its deferred tax assets considering its historic profitability , projected future taxable income , timing of the reversals of existing temporary differences and the feasibility of its tax planning strategies .where appropriate , the company records a valuation allowance with respect to a future tax benefit .product warranties : standard product warranty accruals are recorded at the time of sale and are estimated based upon product warranty terms and historical experience .the company assesses the adequacy of its liabilities and will make adjustments as necessary based on known or anticipated warranty claims , or as new information becomes available .revenue recognition : revenue is recognized and earned when all of the following criteria are satisfied : ( a ) persuasive evidence of a sales arrangement exists ; ( b ) the price is fixed or determinable ; ( c ) collectability is reasonably assured ; and ( d ) delivery has occurred or service has been rendered .delivery generally occurs when the title and the risks and rewards of ownership have transferred to the customer .both the persuasive evidence of a sales arrangement and fixed or determinable price criteria are deemed to be satisfied upon receipt of an executed and legally binding sales agreement or contract that clearly defines the terms and conditions of the transaction including the respective obligations of the parties .if the defined terms and conditions allow variability in all or a component of the price , revenue is not recognized until such time that the price becomes fixed or determinable .at the point of sale , the company validates the existence of an enforceable claim that requires payment within a reasonable amount of time and assesses the collectability of that claim .if collectability is not deemed to be reasonably assured , then revenue recognition is deferred until such time that collectability becomes probable or cash is received .delivery is not considered to have occurred until the customer has taken title and assumed the risks and rewards of ownership .service and installation revenue are recognized when earned .in some instances , customer acceptance provisions are included in sales arrangements to give the buyer the ability to ensure the delivered product or service meets the criteria established in the order .in these instances , revenue recognition is deferred until the acceptance terms specified in the arrangement are fulfilled through customer acceptance or a demonstration that established criteria have been satisfied .if uncertainty exists about customer acceptance , revenue is not recognized until acceptance has occurred .the company offers various sales incentive programs to our customers , dealers , and distributors .sales incentive programs do not preclude revenue recognition , but do require an accrual for the company 2019s best estimate of expected activity .examples of the sales incentives that are accrued for as a contra receivable and sales deduction at the point of sale include , but are not limited to , discounts ( i.e .net 30 type ) , coupons , and rebates where the customer does not have to provide any additional requirements to receive the discount .sales returns and customer disputes involving a question of quantity or price are also accounted for as a .
|
considering the years 2015-2016 , what was the average cash paid for income taxes?
|
45.5
|
{
"answer": "45.5",
"decimal": 45.5,
"type": "float"
}
|
it is the sum of the cash paid during these years divided by two .
|
illumina , inc .notes to consolidated financial statements 2014 ( continued ) advertising costs the company expenses advertising costs as incurred .advertising costs were approximately $ 440000 for 2003 , $ 267000 for 2002 and $ 57000 for 2001 .income taxes a deferred income tax asset or liability is computed for the expected future impact of differences between the financial reporting and tax bases of assets and liabilities , as well as the expected future tax benefit to be derived from tax loss and credit carryforwards .deferred income tax expense is generally the net change during the year in the deferred income tax asset or liability .valuation allowances are established when realizability of deferred tax assets is uncertain .the effect of tax rate changes is reflected in tax expense during the period in which such changes are enacted .foreign currency translation the functional currencies of the company 2019s wholly owned subsidiaries are their respective local currencies .accordingly , all balance sheet accounts of these operations are translated to u.s .dollars using the exchange rates in effect at the balance sheet date , and revenues and expenses are translated using the average exchange rates in effect during the period .the gains and losses from foreign currency translation of these subsidiaries 2019 financial statements are recorded directly as a separate component of stockholders 2019 equity under the caption 2018 2018accumulated other comprehensive income . 2019 2019 stock-based compensation at december 28 , 2003 , the company has three stock-based employee and non-employee director compensation plans , which are described more fully in note 5 .as permitted by sfas no .123 , accounting for stock-based compensation , the company accounts for common stock options granted , and restricted stock sold , to employees , founders and directors using the intrinsic value method and , thus , recognizes no compensation expense for options granted , or restricted stock sold , with exercise prices equal to or greater than the fair value of the company 2019s common stock on the date of the grant .the company has recorded deferred stock compensation related to certain stock options , and restricted stock , which were granted prior to the company 2019s initial public offering with exercise prices below estimated fair value ( see note 5 ) , which is being amortized on an accelerated amortiza- tion methodology in accordance with financial accounting standards board interpretation number ( 2018 2018fin 2019 2019 ) 28 .pro forma information regarding net loss is required by sfas no .123 and has been determined as if the company had accounted for its employee stock options and employee stock purchases under the fair value method of that statement .the fair value for these options was estimated at the dates of grant using the fair value option pricing model ( black scholes ) with the following weighted-average assumptions for 2003 , 2002 and 2001 : year ended year ended year ended december 28 , december 29 , december 30 , 2003 2002 2001 weighted average risk-free interest rate******* 3.03% ( 3.03 % ) 3.73% ( 3.73 % ) 4.65% ( 4.65 % ) expected dividend yield********************* 0% ( 0 % ) 0% ( 0 % ) 0% ( 0 % ) weighted average volatility ****************** 103% ( 103 % ) 104% ( 104 % ) 119% ( 119 % ) estimated life ( in years ) ********************** 5 5 5 .
[['', 'year ended december 28 2003', 'year ended december 29 2002', 'year ended december 30 2001'], ['weighted average risk-free interest rate', '3.03% ( 3.03 % )', '3.73% ( 3.73 % )', '4.65% ( 4.65 % )'], ['expected dividend yield', '0% ( 0 % )', '0% ( 0 % )', '0% ( 0 % )'], ['weighted average volatility', '103% ( 103 % )', '104% ( 104 % )', '119% ( 119 % )'], ['estimated life ( in years )', '5', '5', '5'], ['weighted average fair value of options granted', '$ 3.31', '$ 4.39', '$ 7.51']]
.
|
what was the change in advertising costs from 2001 to 2002?
|
210000
|
{
"answer": "210000",
"decimal": 210000,
"type": "float"
}
| |
concentration of credit risk credit risk represents the accounting loss that would be recognized at the reporting date if counterparties failed to perform as contracted .the company believes the likelihood of incurring material losses due to concentration of credit risk is remote .the principal financial instruments subject to credit risk are as follows : cash and cash equivalents - the company maintains cash deposits with major banks , which from time to time may exceed insured limits .the possibility of loss related to financial condition of major banks has been deemed minimal .additionally , the company 2019s investment policy limits exposure to concentrations of credit risk and changes in market conditions .accounts receivable - a large number of customers in diverse industries and geographies , as well as the practice of establishing reasonable credit lines , limits credit risk .based on historical trends and experiences , the allowance for doubtful accounts is adequate to cover potential credit risk losses .foreign currency and interest rate contracts and derivatives - exposure to credit risk is limited by internal policies and active monitoring of counterparty risks .in addition , the company uses a diversified group of major international banks and financial institutions as counterparties .the company does not anticipate nonperformance by any of these counterparties .cash and cash equivalents cash equivalents include highly-liquid investments with a maturity of three months or less when purchased .accounts receivable and allowance for doubtful accounts accounts receivable are carried at their face amounts less an allowance for doubtful accounts .accounts receivable are recorded at the invoiced amount and generally do not bear interest .the company estimates the balance of allowance for doubtful accounts by analyzing accounts receivable balances by age and applying historical write-off and collection trend rates .the company 2019s estimates include separately providing for customer balances based on specific circumstances and credit conditions , and when it is deemed probable that the balance is uncollectible .account balances are charged off against the allowance when it is determined the receivable will not be recovered .the company 2019s allowance for doubtful accounts balance also includes an allowance for the expected return of products shipped and credits related to pricing or quantities shipped of $ 15 million as of december 31 , 2015 and 2014 and $ 14 million as of december 31 , 2013 .returns and credit activity is recorded directly to sales .the following table summarizes the activity in the allowance for doubtful accounts: .
[['( millions )', '2015', '2014', '2013'], ['beginning balance', '$ 77', '$ 81', '$ 73'], ['bad debt expense', '26', '23', '28'], ['write-offs', '-22 ( 22 )', '-20 ( 20 )', '-21 ( 21 )'], ['other ( a )', '-6 ( 6 )', '-7 ( 7 )', '1'], ['ending balance', '$ 75', '$ 77', '$ 81']]
( a ) other amounts are primarily the effects of changes in currency translations and the impact of allowance for returns and credits .inventory valuations inventories are valued at the lower of cost or market .certain u.s .inventory costs are determined on a last-in , first-out ( lifo ) basis .lifo inventories represented 39% ( 39 % ) and 37% ( 37 % ) of consolidated inventories as of december 31 , 2015 and 2014 , respectively .lifo inventories include certain legacy nalco u.s .inventory acquired at fair value as part of the nalco merger .all other inventory costs are determined using either the average cost or first-in , first-out ( fifo ) methods .inventory values at fifo , as shown in note 5 , approximate replacement during the fourth quarter of 2015 , the company improved estimates related to its inventory reserves and product costing , resulting in a net pre-tax charge of approximately $ 6 million .separately , the actions resulted in charge of $ 20.6 million related to inventory reserve calculations , partially offset by a gain of $ 14.5 million related to the capitalization of certain cost components into inventory .both of these items are reflected in note 3. .
|
what is the average percent of lifo inventories as a percent of consolidated inventories as of december 31 , 2015 and 2014?
|
38%
|
{
"answer": "38%",
"decimal": 0.38,
"type": "percentage"
}
| |
net cash flows provided by operating activities of $ 704.4 million for 2016 increased $ 154.7 million from 2015 due primarily to ( 1 ) improved operating performance and ( 2 ) lower supplier payments in 2016 compared to 2015 , partially offset by ( 1 ) the impact of excess tax benefits from stock plans , primarily due to our increased stock price , and ( 2 ) an increase in accounts receivable due to increased sales , primarily in the united states .net cash flows provided by operating activities of $ 549.7 million for 2015 decreased $ 472.6 million from 2014 due primarily to ( 1 ) the $ 750.0 million upfront payment received from medtronic under a litigation settlement agreement , and ( 2 ) a higher bonus payout in 2015 associated with 2014 performance .these decreases were partially offset by ( 1 ) income tax payments of $ 224.5 million made in 2014 related to the medtronic settlement , ( 2 ) improved operating performance in 2015 , and ( 3 ) the $ 50.0 million charitable contribution made in 2014 to the edwards lifesciences foundation .net cash used in investing activities of $ 211.7 million in 2016 consisted primarily of capital expenditures of $ 176.1 million and $ 41.3 million for the acquisition of intangible assets .net cash used in investing activities of $ 316.1 million in 2015 consisted primarily of a $ 320.1 million net payment associated with the acquisition of cardiaq , and capital expenditures of $ 102.7 million , partially offset by net proceeds from investments of $ 119.6 million .net cash used in investing activities of $ 633.0 million in 2014 consisted primarily of net purchases of investments of $ 527.4 million and capital expenditures of $ 82.9 million .net cash used in financing activities of $ 268.5 million in 2016 consisted primarily of purchases of treasury stock of $ 662.3 million , partially offset by ( 1 ) net proceeds from the issuance of debt of $ 222.1 million , ( 2 ) proceeds from stock plans of $ 103.3 million , and ( 3 ) the excess tax benefit from stock plans of $ 64.3 million .net cash used in financing activities of $ 158.6 million in 2015 consisted primarily of purchases of treasury stock of $ 280.1 million , partially offset by ( 1 ) proceeds from stock plans of $ 87.2 million , and ( 2 ) the excess tax benefit from stock plans of $ 41.3 million .net cash used in financing activities of $ 153.0 million in 2014 consisted primarily of purchases of treasury stock of $ 300.9 million , partially offset by ( 1 ) proceeds from stock plans of $ 113.3 million , and ( 2 ) the excess tax benefit from stock plans of $ 49.4 million ( including the realization of previously unrealized excess tax benefits ) .a summary of all of our contractual obligations and commercial commitments as of december 31 , 2016 were as follows ( in millions ) : .
[['contractual obligations', 'payments due by period total', 'payments due by period less than1 year', 'payments due by period 1-3years', 'payments due by period 4-5years', 'payments due by period after 5years'], ['debt', '$ 825.0', '$ 2014', '$ 825.0', '$ 2014', '$ 2014'], ['operating leases', '72.6', '22.3', '24.9', '8.8', '16.6'], ['interest on debt', '30.8', '16.4', '14.4', '2014', '2014'], ['pension obligations ( a )', '6.1', '6.1', '2014', '2014', '2014'], ['capital commitment obligations ( b )', '0.6', '0.3', '0.3', '2014', '2014'], ['purchase and other commitments', '16.4', '13.7', '2.7', '2014', '2014'], ['total contractual cash obligations ( c ) ( d )', '$ 951.5', '$ 58.8', '$ 867.3', '$ 8.8', '$ 16.6']]
( a ) the amount included in 2018 2018less than 1 year 2019 2019 reflects anticipated contributions to our various pension plans .anticipated contributions beyond one year are not determinable .the total accrued benefit liability for our pension plans recognized as of december 31 , 2016 was $ 50.1 million .this amount is impacted .
|
what percentage of total contractual cash obligations is debt?
|
87%
|
{
"answer": "87%",
"decimal": 0.87,
"type": "percentage"
}
| |
notes to consolidated financial statements 2014 ( continued ) fiscal years ended may 27 , 2007 , may 28 , 2006 , and may 29 , 2005 columnar amounts in millions except per share amounts due to the purchase price of the cattle feeding business being entirely financed by the company , the legal divestiture of the cattle feeding operation was not recognized as a divestiture for accounting purposes , and the assets , liabilities and results of operations of the cattle feeding business were reflected in continuing operations in the company 2019s financial statements prior to october 15 , 2004 .on september 24 , 2004 , the company reached an agreement with affiliates of swift foods by which the company took control and ownership of approximately $ 300 million of the net assets of the cattle feeding business , including feedlots and live cattle .on october 15 , 2004 , the company sold the feedlots to smithfield foods for approximately $ 70 million .these transactions resulted in a gain of approximately $ 19 million ( net of taxes of $ 11.6 million ) .the company retained live cattle inventory and related derivative instruments and liquidated those assets in an orderly manner over the succeeding several months .beginning september 24 , 2004 , the assets , liabilities and results of operations , including the gain on sale , of the cattle feeding business are classified as discontinued operations .culturelle business during the first quarter of fiscal 2007 , the company completed its divestiture of its nutritional supplement business for proceeds of approximately $ 8.2 million , resulting in a pre-tax gain of approximately $ 6.2 million ( $ 3.5 million after tax ) .the company reflects this gain within discontinued operations .the results of the aforementioned businesses which have been divested are included within discontinued operations .the summary comparative financial results of discontinued operations were as follows: .
[['', '2007', '2006', '2005'], ['net sales', '$ 727.6', '$ 2690.0', '$ 4131.7'], ['long-lived asset impairment charge', '-21.1 ( 21.1 )', '-240.9 ( 240.9 )', '-59.4 ( 59.4 )'], ['income from operations of discontinued operations before income taxes', '92.5', '179.7', '157.7'], ['net gain from disposal of businesses', '64.3', '115.5', '26.3'], ['income before income taxes', '135.7', '54.3', '124.6'], ['income tax expense', '-54.9 ( 54.9 )', '-109.8 ( 109.8 )', '-41.8 ( 41.8 )'], ['income ( loss ) from discontinued operations net of tax', '$ 80.8', '$ -55.5 ( 55.5 )', '$ 82.8']]
the effective tax rate for discontinued operations is significantly higher than the statutory rate due to the nondeductibility of certain goodwill of divested businesses .other assets held for sale during the third quarter of fiscal 2006 , the company initiated a plan to dispose of a refrigerated pizza business with annual revenues of less than $ 70 million .during the second quarter of fiscal 2007 , the company disposed of this business for proceeds of approximately $ 22.0 million , resulting in no significant gain or loss .due to the company 2019s expected significant continuing cash flows associated with this business , the results of operations of this business are included in continuing operations for all periods presented .the assets and liabilities of this business are classified as assets and liabilities held for sale in the consolidated balance sheets for all periods prior to the sale .during the second quarter of fiscal 2007 , the company completed the disposal of an oat milling business for proceeds of approximately $ 35.8 million , after final working capital adjustments made during the third quarter .
|
for the 3 years ended 2007 income ( loss ) from discontinued operations net of tax totaled?
|
108.1
|
{
"answer": "108.1",
"decimal": 108.1,
"type": "float"
}
| |
the goldman sachs group , inc .and subsidiaries notes to consolidated financial statements 2030 purchased interests represent senior and subordinated interests , purchased in connection with secondary market-making activities , in securitization entities in which the firm also holds retained interests .2030 substantially all of the total outstanding principal amount and total retained interests relate to securitizations during 2014 and thereafter as of december 2018 , and relate to securitizations during 2012 and thereafter as of december 2017 .2030 the fair value of retained interests was $ 3.28 billion as of december 2018 and $ 2.13 billion as of december 2017 .in addition to the interests in the table above , the firm had other continuing involvement in the form of derivative transactions and commitments with certain nonconsolidated vies .the carrying value of these derivatives and commitments was a net asset of $ 75 million as of december 2018 and $ 86 million as of december 2017 , and the notional amount of these derivatives and commitments was $ 1.09 billion as of december 2018 and $ 1.26 billion as of december 2017 .the notional amounts of these derivatives and commitments are included in maximum exposure to loss in the nonconsolidated vie table in note 12 .the table below presents information about the weighted average key economic assumptions used in measuring the fair value of mortgage-backed retained interests. .
[['$ in millions', 'as of december 2018', 'as of december 2017'], ['fair value of retained interests', '$ 3151', '$ 2071'], ['weighted average life ( years )', '7.2', '6.0'], ['constant prepayment rate', '11.9% ( 11.9 % )', '9.4% ( 9.4 % )'], ['impact of 10% ( 10 % ) adverse change', '$ -27 ( 27 )', '$ -19 ( 19 )'], ['impact of 20% ( 20 % ) adverse change', '$ -53 ( 53 )', '$ -35 ( 35 )'], ['discount rate', '4.7% ( 4.7 % )', '4.2% ( 4.2 % )'], ['impact of 10% ( 10 % ) adverse change', '$ -75 ( 75 )', '$ -35 ( 35 )'], ['impact of 20% ( 20 % ) adverse change', '$ -147 ( 147 )', '$ -70 ( 70 )']]
in the table above : 2030 amounts do not reflect the benefit of other financial instruments that are held to mitigate risks inherent in these retained interests .2030 changes in fair value based on an adverse variation in assumptions generally cannot be extrapolated because the relationship of the change in assumptions to the change in fair value is not usually linear .2030 the impact of a change in a particular assumption is calculated independently of changes in any other assumption .in practice , simultaneous changes in assumptions might magnify or counteract the sensitivities disclosed above .2030 the constant prepayment rate is included only for positions for which it is a key assumption in the determination of fair value .2030 the discount rate for retained interests that relate to u.s .government agency-issued collateralized mortgage obligations does not include any credit loss .expected credit loss assumptions are reflected in the discount rate for the remainder of retained interests .the firm has other retained interests not reflected in the table above with a fair value of $ 133 million and a weighted average life of 4.2 years as of december 2018 , and a fair value of $ 56 million and a weighted average life of 4.5 years as of december 2017 .due to the nature and fair value of certain of these retained interests , the weighted average assumptions for constant prepayment and discount rates and the related sensitivity to adverse changes are not meaningful as of both december 2018 and december 2017 .the firm 2019s maximum exposure to adverse changes in the value of these interests is the carrying value of $ 133 million as of december 2018 and $ 56 million as of december 2017 .note 12 .variable interest entities a variable interest in a vie is an investment ( e.g. , debt or equity ) or other interest ( e.g. , derivatives or loans and lending commitments ) that will absorb portions of the vie 2019s expected losses and/or receive portions of the vie 2019s expected residual returns .the firm 2019s variable interests in vies include senior and subordinated debt ; loans and lending commitments ; limited and general partnership interests ; preferred and common equity ; derivatives that may include foreign currency , equity and/or credit risk ; guarantees ; and certain of the fees the firm receives from investment funds .certain interest rate , foreign currency and credit derivatives the firm enters into with vies are not variable interests because they create , rather than absorb , risk .vies generally finance the purchase of assets by issuing debt and equity securities that are either collateralized by or indexed to the assets held by the vie .the debt and equity securities issued by a vie may include tranches of varying levels of subordination .the firm 2019s involvement with vies includes securitization of financial assets , as described in note 11 , and investments in and loans to other types of vies , as described below .see note 11 for further information about securitization activities , including the definition of beneficial interests .see note 3 for the firm 2019s consolidation policies , including the definition of a vie .goldman sachs 2018 form 10-k 149 .
|
what is the net change in the other retained interests not reflected in the table during 2018 , in millions?
|
77
|
{
"answer": "77",
"decimal": 77,
"type": "float"
}
| |
on the credit rating of the company and a $ 200 million term loan with an interest rate of libor plus a margin of 175 basis points , both with maturity dates in 2017 .the proceeds from these borrowings were used , along with available cash , to fund the acquisition of temple- inland .during 2012 , international paper fully repaid the $ 1.2 billion term loan .international paper utilizes interest rate swaps to change the mix of fixed and variable rate debt and manage interest expense .at december 31 , 2012 , international paper had interest rate swaps with a total notional amount of $ 150 million and maturities in 2013 ( see note 14 derivatives and hedging activities on pages 70 through 74 of item 8 .financial statements and supplementary data ) .during 2012 , existing swaps and the amortization of deferred gains on previously terminated swaps decreased the weighted average cost of debt from 6.8% ( 6.8 % ) to an effective rate of 6.6% ( 6.6 % ) .the inclusion of the offsetting interest income from short- term investments reduced this effective rate to 6.2% ( 6.2 % ) .other financing activities during 2012 included the issuance of approximately 1.9 million shares of treasury stock , net of restricted stock withholding , and 1.0 million shares of common stock for various incentive plans , including stock options exercises that generated approximately $ 108 million of cash .payment of restricted stock withholding taxes totaled $ 35 million .off-balance sheet variable interest entities information concerning off-balance sheet variable interest entities is set forth in note 12 variable interest entities and preferred securities of subsidiaries on pages 67 through 69 of item 8 .financial statements and supplementary data for discussion .liquidity and capital resources outlook for 2015 capital expenditures and long-term debt international paper expects to be able to meet projected capital expenditures , service existing debt and meet working capital and dividend requirements during 2015 through current cash balances and cash from operations .additionally , the company has existing credit facilities totaling $ 2.0 billion of which nothing has been used .the company was in compliance with all its debt covenants at december 31 , 2014 .the company 2019s financial covenants require the maintenance of a minimum net worth of $ 9 billion and a total debt-to- capital ratio of less than 60% ( 60 % ) .net worth is defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock plus any cumulative goodwill impairment charges .the calculation also excludes accumulated other comprehensive income/ loss and nonrecourse financial liabilities of special purpose entities .the total debt-to-capital ratio is defined as total debt divided by the sum of total debt plus net worth .at december 31 , 2014 , international paper 2019s net worth was $ 14.0 billion , and the total-debt- to-capital ratio was 40% ( 40 % ) .the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows .funding decisions will be guided by our capital structure planning objectives .the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense .the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors .maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy .at december 31 , 2014 , the company held long-term credit ratings of bbb ( stable outlook ) and baa2 ( stable outlook ) by s&p and moody 2019s , respectively .contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2014 , were as follows: .
[['in millions', '2015', '2016', '2017', '2018', '2019', 'thereafter'], ['maturities of long-term debt ( a )', '$ 742', '$ 543', '$ 71', '$ 1229', '$ 605', '$ 6184'], ['debt obligations with right of offset ( b )', '2014', '5202', '2014', '2014', '2014', '2014'], ['lease obligations', '142', '106', '84', '63', '45', '91'], ['purchase obligations ( c )', '3266', '761', '583', '463', '422', '1690'], ['total ( d )', '$ 4150', '$ 6612', '$ 738', '$ 1755', '$ 1072', '$ 7965']]
( a ) total debt includes scheduled principal payments only .( b ) represents debt obligations borrowed from non-consolidated variable interest entities for which international paper has , and intends to effect , a legal right to offset these obligations with investments held in the entities .accordingly , in its consolidated balance sheet at december 31 , 2014 , international paper has offset approximately $ 5.2 billion of interests in the entities against this $ 5.3 billion of debt obligations held by the entities ( see note 12 variable interest entities and preferred securities of subsidiaries on pages 67 through 69 in item 8 .financial statements and supplementary data ) .( c ) includes $ 2.3 billion relating to fiber supply agreements entered into at the time of the 2006 transformation plan forestland sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business .( d ) not included in the above table due to the uncertainty as to the amount and timing of the payment are unrecognized tax benefits of approximately $ 119 million .as discussed in note 12 variable interest entities and preferred securities of subsidiaries on pages 67 through 69 in item 8 .financial statements and supplementary data , in connection with the 2006 international paper installment sale of forestlands , we received $ 4.8 billion of installment notes ( or timber notes ) , which we contributed to certain non- consolidated borrower entities .the installment notes mature in august 2016 ( unless extended ) .the deferred .
|
what percentage of contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2014 due in 2016 are purchase obligations?
|
12%
|
{
"answer": "12%",
"decimal": 0.12,
"type": "percentage"
}
| |
table of contents the notional amounts for outstanding derivative instruments provide one measure of the transaction volume outstanding and do not represent the amount of the company 2019s exposure to credit or market loss .the credit risk amounts represent the company 2019s gross exposure to potential accounting loss on derivative instruments that are outstanding or unsettled if all counterparties failed to perform according to the terms of the contract , based on then-current currency or interest rates at each respective date .the company 2019s exposure to credit loss and market risk will vary over time as currency and interest rates change .although the table above reflects the notional and credit risk amounts of the company 2019s derivative instruments , it does not reflect the gains or losses associated with the exposures and transactions that the instruments are intended to hedge .the amounts ultimately realized upon settlement of these financial instruments , together with the gains and losses on the underlying exposures , will depend on actual market conditions during the remaining life of the instruments .the company generally enters into master netting arrangements , which are designed to reduce credit risk by permitting net settlement of transactions with the same counterparty .to further limit credit risk , the company generally enters into collateral security arrangements that provide for collateral to be received or posted when the net fair value of certain financial instruments fluctuates from contractually established thresholds .the company presents its derivative assets and derivative liabilities at their gross fair values in its consolidated balance sheets .the net cash collateral received by the company related to derivative instruments under its collateral security arrangements was $ 1.0 billion as of september 26 , 2015 and $ 2.1 billion as of september 27 , 2014 .under master netting arrangements with the respective counterparties to the company 2019s derivative contracts , the company is allowed to net settle transactions with a single net amount payable by one party to the other .as of september 26 , 2015 and september 27 , 2014 , the potential effects of these rights of set-off associated with the company 2019s derivative contracts , including the effects of collateral , would be a reduction to both derivative assets and derivative liabilities of $ 2.2 billion and $ 1.6 billion , respectively , resulting in net derivative liabilities of $ 78 million and $ 549 million , respectively .accounts receivable receivables the company has considerable trade receivables outstanding with its third-party cellular network carriers , wholesalers , retailers , value-added resellers , small and mid-sized businesses and education , enterprise and government customers .the company generally does not require collateral from its customers ; however , the company will require collateral in certain instances to limit credit risk .in addition , when possible , the company attempts to limit credit risk on trade receivables with credit insurance for certain customers or by requiring third-party financing , loans or leases to support credit exposure .these credit-financing arrangements are directly between the third-party financing company and the end customer .as such , the company generally does not assume any recourse or credit risk sharing related to any of these arrangements .as of september 26 , 2015 , the company had one customer that represented 10% ( 10 % ) or more of total trade receivables , which accounted for 12% ( 12 % ) .as of september 27 , 2014 , the company had two customers that represented 10% ( 10 % ) or more of total trade receivables , one of which accounted for 16% ( 16 % ) and the other 13% ( 13 % ) .the company 2019s cellular network carriers accounted for 71% ( 71 % ) and 72% ( 72 % ) of trade receivables as of september 26 , 2015 and september 27 , 2014 , respectively .vendor non-trade receivables the company has non-trade receivables from certain of its manufacturing vendors resulting from the sale of components to these vendors who manufacture sub-assemblies or assemble final products for the company .the company purchases these components directly from suppliers .vendor non-trade receivables from three of the company 2019s vendors accounted for 38% ( 38 % ) , 18% ( 18 % ) and 14% ( 14 % ) of total vendor non-trade receivables as of september 26 , 2015 and three of the company 2019s vendors accounted for 51% ( 51 % ) , 16% ( 16 % ) and 14% ( 14 % ) of total vendor non-trade receivables as of september 27 , 2014 .note 3 2013 consolidated financial statement details the following tables show the company 2019s consolidated financial statement details as of september 26 , 2015 and september 27 , 2014 ( in millions ) : property , plant and equipment , net .
[['', '2015', '2014'], ['land and buildings', '$ 6956', '$ 4863'], ['machinery equipment and internal-use software', '37038', '29639'], ['leasehold improvements', '5263', '4513'], ['gross property plant and equipment', '49257', '39015'], ['accumulated depreciation and amortization', '-26786 ( 26786 )', '-18391 ( 18391 )'], ['total property plant and equipment net', '$ 22471', '$ 20624']]
apple inc .| 2015 form 10-k | 53 .
|
what is the percentage change in total property plant and equipment net from 2014 to 2015?
|
9%
|
{
"answer": "9%",
"decimal": 0.09,
"type": "percentage"
}
| |
undistributed earnings of $ 696.9 million from certain foreign subsidiaries are considered to be permanently reinvested abroad and will not be repatriated to the united states in the foreseeable future .because those earnings are considered to be indefinitely reinvested , no domestic federal or state deferred income taxes have been provided thereon .if we were to make a distribution of any portion of those earnings in the form of dividends or otherwise , we would be subject to both u.s .income taxes ( subject to an adjustment for foreign tax credits ) and withholding taxes payable to the various foreign jurisdictions .because of the availability of u.s .foreign tax credit carryforwards , it is not practicable to determine the domestic federal income tax liability that would be payable if such earnings were no longer considered to be reinvested indefinitely .a valuation allowance is provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized .changes to our valuation allowance during the years ended may 31 , 2015 and 2014 are summarized below ( in thousands ) : .
[['balance at may 31 2013', '$ -28464 ( 28464 )'], ['utilization of foreign net operating loss carryforwards', '2822'], ['allowance for foreign tax credit carryforward', '18061'], ['other', '382'], ['balance at may 31 2014', '-7199 ( 7199 )'], ['utilization of foreign net operating loss carryforwards', '3387'], ['other', '-11 ( 11 )'], ['balance at may 31 2015', '$ -3823 ( 3823 )']]
net operating loss carryforwards of foreign subsidiaries totaling $ 12.4 million and u.s .net operating loss carryforwards previously acquired totaling $ 19.8 million at may 31 , 2015 will expire between may 31 , 2017 and may 31 , 2033 if not utilized .capital loss carryforwards of u.s .subsidiaries totaling $ 4.7 million will expire if not utilized by may 31 , 2017 .tax credit carryforwards totaling $ 8.4 million at may 31 , 2015 will expire between may 31 , 2017 and may 31 , 2023 if not utilized .we conduct business globally and file income tax returns in the u.s .federal jurisdiction and various state and foreign jurisdictions .in the normal course of business , we are subject to examination by taxing authorities around the world .as a result of events that occurred in the fourth quarter of the year ended may 31 , 2015 , management concluded that it was more likely than not that the tax positions in a foreign jurisdiction , for which we had recorded estimated liabilities of $ 65.6 million in other noncurrent liabilities on our consolidated balance sheet , would be sustained on their technical merits based on information available as of may 31 , 2015 .therefore , the liability and corresponding deferred tax assets were eliminated as of may 31 , 2015 .the uncertain tax positions have been subject to an ongoing examination in that foreign jurisdiction by the tax authority .discussions and correspondence between the tax authority and us during the fourth quarter indicated that the likelihood of the positions being sustained had increased .subsequent to may 31 , 2015 , we received a final closure notice regarding the examination resulting in no adjustments to taxable income related to this matter for the tax returns filed for the periods ended may 31 , 2010 through may 31 , 2013 .the unrecognized tax benefits were effectively settled with this final closure notice .we are no longer subjected to state income tax examinations for years ended on or before may 31 , 2008 , u.s .federal income tax examinations for fiscal years prior to 2012 and united kingdom federal income tax examinations for years ended on or before may 31 , 2013 .78 2013 global payments inc .| 2015 form 10-k annual report .
|
what is the net change in the balance of valuation allowance during 2015?
|
3376
|
{
"answer": "3376",
"decimal": 3376,
"type": "float"
}
| |
table of contents company stock performance the following graph shows a comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 index , the s&p information technology index and the dow jones u.s .technology supersector index for the five years ended september 26 , 2015 .the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the s&p information technology index and the dow jones u.s .technology supersector index as of the market close on september 24 , 2010 .note that historic stock price performance is not necessarily indicative of future stock price performance .* $ 100 invested on 9/25/10 in stock or index , including reinvestment of dividends .data points are the last day of each fiscal year for the company 2019scommon stock and september 30th for indexes .copyright a9 2015 s&p , a division of mcgraw hill financial .all rights reserved .copyright a9 2015 dow jones & co .all rights reserved .september september september september september september .
[['', 'september 2010', 'september 2011', 'september 2012', 'september 2013', 'september 2014', 'september 2015'], ['apple inc .', '$ 100', '$ 138', '$ 229', '$ 170', '$ 254', '$ 294'], ['s&p 500 index', '$ 100', '$ 101', '$ 132', '$ 157', '$ 188', '$ 187'], ['s&p information technology index', '$ 100', '$ 104', '$ 137', '$ 147', '$ 190', '$ 194'], ['dow jones u.s . technology supersector index', '$ 100', '$ 103', '$ 134', '$ 141', '$ 183', '$ 183']]
apple inc .| 2015 form 10-k | 21 .
|
what was the percentage cumulative total shareholder return for the five years ended 2015?
|
194%
|
{
"answer": "194%",
"decimal": 1.94,
"type": "percentage"
}
| |
entergy new orleans , inc .and subsidiaries management 2019s financial discussion and analysis results of operations net income 2016 compared to 2015 net income increased $ 3.9 million primarily due to higher net revenue , partially offset by higher depreciation and amortization expenses , higher interest expense , and lower other income .2015 compared to 2014 net income increased $ 13.9 million primarily due to lower other operation and maintenance expenses and higher net revenue , partially offset by a higher effective income tax rate .net revenue 2016 compared to 2015 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges .following is an analysis of the change in net revenue comparing 2016 to 2015 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2015 net revenue', '$ 293.9'], ['retail electric price', '39.0'], ['net gas revenue', '-2.5 ( 2.5 )'], ['volume/weather', '-5.1 ( 5.1 )'], ['other', '-8.1 ( 8.1 )'], ['2016 net revenue', '$ 317.2']]
the retail electric price variance is primarily due to an increase in the purchased power and capacity acquisition cost recovery rider , as approved by the city council , effective with the first billing cycle of march 2016 , primarily related to the purchase of power block 1 of the union power station .see note 14 to the financial statements for discussion of the union power station purchase .the net gas revenue variance is primarily due to the effect of less favorable weather on residential and commercial sales .the volume/weather variance is primarily due to a decrease of 112 gwh , or 2% ( 2 % ) , in billed electricity usage , partially offset by the effect of favorable weather on commercial sales and a 2% ( 2 % ) increase in the average number of electric customers. .
|
what was the combined impact in millions on 2016 net revenue from the net gas revenue adjustment , the volume/weather adjustment , and other adjustments?
|
-15.7
|
{
"answer": "-15.7",
"decimal": -15.7,
"type": "float"
}
| |
on may 20 , 2015 , aon plc issued $ 600 million of 4.750% ( 4.750 % ) senior notes due may 2045 .the 4.750% ( 4.750 % ) notes due may 2045 are fully and unconditionally guaranteed by aon corporation .we used the proceeds of the issuance for general corporate purposes .on september 30 , 2015 , $ 600 million of 3.50% ( 3.50 % ) senior notes issued by aon corporation matured and were repaid .on november 13 , 2015 , aon plc issued $ 400 million of 2.80% ( 2.80 % ) senior notes due march 2021 .the 2.80% ( 2.80 % ) notes due march 2021 are fully and unconditionally guaranteed by aon corporation .we used the proceeds of the issuance for general corporate purposes .credit facilities as of december 31 , 2015 , we had two committed credit facilities outstanding : our $ 400 million u.s .credit facility expiring in march 2017 ( the "2017 facility" ) and $ 900 million multi-currency u.s .credit facility expiring in february 2020 ( the "2020 facility" ) .the 2020 facility was entered into on february 2 , 2015 and replaced the previous 20ac650 million european credit facility .each of these facilities is intended to support our commercial paper obligations and our general working capital needs .in addition , each of these facilities includes customary representations , warranties and covenants , including financial covenants that require us to maintain specified ratios of adjusted consolidated ebitda to consolidated interest expense and consolidated debt to adjusted consolidated ebitda , tested quarterly .at december 31 , 2015 , we did not have borrowings under either the 2017 facility or the 2020 facility , and we were in compliance with the financial covenants and all other covenants contained therein during the twelve months ended december 31 , 2015 .effective february 2 , 2016 , the 2020 facility terms were extended for 1 year and will expire in february 2021 our total debt-to-ebitda ratio at december 31 , 2015 and 2014 , is calculated as follows: .
[['years ended december 31,', '2015', '2014'], ['net income', '1422', '1431'], ['interest expense', '273', '255'], ['income taxes', '267', '334'], ['depreciation of fixed assets', '229', '242'], ['amortization of intangible assets', '314', '352'], ['total ebitda', '2505', '2614'], ['total debt', '5737', '5582'], ['total debt-to-ebitda ratio', '2.3', '2.1']]
we use ebitda , as defined by our financial covenants , as a non-gaap measure .this supplemental information related to ebitda represents a measure not in accordance with u.s .gaap and should be viewed in addition to , not instead of , our consolidated financial statements and notes thereto .shelf registration statement on september 3 , 2015 , we filed a shelf registration statement with the sec , registering the offer and sale from time to time of an indeterminate amount of , among other securities , debt securities , preference shares , class a ordinary shares and convertible securities .our ability to access the market as a source of liquidity is dependent on investor demand , market conditions and other factors. .
|
what was the percent of the change in the interest expense from 2014 to 2015
|
7.1%
|
{
"answer": "7.1%",
"decimal": 0.071,
"type": "percentage"
}
| |
the following table summarizes the changes in the company 2019s valuation allowance: .
[['balance at january 1 2011', '$ 23788'], ['increases in current period tax positions', '1525'], ['decreases in current period tax positions', '-3734 ( 3734 )'], ['balance at december 31 2011', '$ 21579'], ['increases in current period tax positions', '0'], ['decreases in current period tax positions', '-2059 ( 2059 )'], ['balance at december 31 2012', '$ 19520'], ['increases in current period tax positions', '0'], ['decreases in current period tax positions', '-5965 ( 5965 )'], ['balance at december 31 2013', '$ 13555']]
included in 2013 is a discrete tax benefit totaling $ 2979 associated with an entity re-organization within the company 2019s market-based segment that allowed for the utilization of state net operating loss carryforwards and the release of an associated valuation allowance .note 14 : employee benefits pension and other postretirement benefits the company maintains noncontributory defined benefit pension plans covering eligible employees of its regulated utility and shared services operations .benefits under the plans are based on the employee 2019s years of service and compensation .the pension plans have been closed for all employees .the pension plans were closed for most employees hired on or after january 1 , 2006 .union employees hired on or after january 1 , 2001 had their accrued benefit frozen and will be able to receive this benefit as a lump sum upon termination or retirement .union employees hired on or after january 1 , 2001 and non-union employees hired on or after january 1 , 2006 are provided with a 5.25% ( 5.25 % ) of base pay defined contribution plan .the company does not participate in a multiemployer plan .the company 2019s pension funding practice is to contribute at least the greater of the minimum amount required by the employee retirement income security act of 1974 or the normal cost .further , the company will consider additional contributions if needed to avoid 201cat risk 201d status and benefit restrictions under the pension protection act of 2006 .the company may also consider increased contributions , based on other financial requirements and the plans 2019 funded position .pension plan assets are invested in a number of actively managed and indexed investments including equity and bond mutual funds , fixed income securities , guaranteed interest contracts with insurance companies and real estate investment trusts ( 201creits 201d ) .pension expense in excess of the amount contributed to the pension plans is deferred by certain regulated subsidiaries pending future recovery in rates charged for utility services as contributions are made to the plans .( see note 6 ) the company also has unfunded noncontributory supplemental non-qualified pension plans that provide additional retirement benefits to certain employees .the company maintains other postretirement benefit plans providing varying levels of medical and life insurance to eligible retirees .the retiree welfare plans are closed for union employees hired on or after january 1 , 2006 .the plans had previously closed for non-union employees hired on or after january 1 , 2002 .the company 2019s policy is to fund other postretirement benefit costs for rate-making purposes .assets of the plans are invested in equity mutual funds , bond mutual funds and fixed income securities. .
|
what was the average decrease in the tax position from 2011 to 2013
|
3919
|
{
"answer": "3919",
"decimal": 3919,
"type": "float"
}
|
the average decrease over the 3 years is the sum of the decrease over the 3 years divide by 3
|
item 2 .properties as of december 31 , 2014 , we owned or leased 129 major manufacturing sites and 15 major technical centers in 33 countries .a manufacturing site may include multiple plants and may be wholly or partially owned or leased .we also have many smaller manufacturing sites , sales offices , warehouses , engineering centers , joint ventures and other investments strategically located throughout the world .the following table shows the regional distribution of our major manufacturing sites by the operating segment that uses such facilities : north america europe , middle east & africa asia pacific south america total .
[['', 'north america', 'europemiddle east& africa', 'asia pacific', 'south america', 'total'], ['electrical/electronic architecture', '29', '23', '20', '7', '79'], ['powertrain systems', '4', '10', '6', '2', '22'], ['electronics and safety', '3', '9', '3', '1', '16'], ['thermal systems', '3', '3', '5', '1', '12'], ['total', '39', '45', '34', '11', '129']]
in addition to these manufacturing sites , we had 15 major technical centers : five in north america ; five in europe , middle east and africa ; four in asia pacific ; and one in south america .of our 129 major manufacturing sites and 15 major technical centers , which include facilities owned or leased by our consolidated subsidiaries , 83 are primarily owned and 61 are primarily leased .we frequently review our real estate portfolio and develop footprint strategies to support our customers 2019 global plans , while at the same time supporting our technical needs and controlling operating expenses .we believe our evolving portfolio will meet current and anticipated future needs .item 3 .legal proceedings we are from time to time subject to various actions , claims , suits , government investigations , and other proceedings incidental to our business , including those arising out of alleged defects , breach of contracts , competition and antitrust matters , product warranties , intellectual property matters , personal injury claims and employment-related matters .it is our opinion that the outcome of such matters will not have a material adverse impact on our consolidated financial position , results of operations , or cash flows .with respect to warranty matters , although we cannot ensure that the future costs of warranty claims by customers will not be material , we believe our established reserves are adequate to cover potential warranty settlements .however , the final amounts required to resolve these matters could differ materially from our recorded estimates .gm ignition switch recall in the first quarter of 2014 , gm , delphi 2019s largest customer , initiated a product recall related to ignition switches .delphi has received requests for information from , and is cooperating with , various government agencies related to this ignition switch recall .in addition , delphi has been named as a co-defendant along with gm ( and in certain cases other parties ) in product liability and class action lawsuits related to this matter .during the second quarter of 2014 , all of the class action cases were transferred to the united states district court for the southern district of new york ( the 201cdistrict court 201d ) for coordinated pretrial proceedings .two consolidated amended class action complaints were filed in the district court on october 14 , 2014 .delphi was not named as a defendant in either complaint .delphi believes the allegations contained in the product liability cases are without merit , and intends to vigorously defend against them .although no assurances can be made as to the ultimate outcome of these or any other future claims , delphi does not believe a loss is probable and , accordingly , no reserve has been made as of december 31 , 2014 .unsecured creditors litigation under the terms of the fourth amended and restated limited liability partnership agreement of delphi automotive llp ( the 201cfourth llp agreement 201d ) , if cumulative distributions to the members of delphi automotive llp under certain provisions of the fourth llp agreement exceed $ 7.2 billion , delphi , as disbursing agent on behalf of dphh , is required to pay to the holders of allowed general unsecured claims against old delphi , $ 32.50 for every $ 67.50 in excess of $ 7.2 billion distributed to the members , up to a maximum amount of $ 300 million .in december 2014 , a complaint was filed in the bankruptcy court alleging that the redemption by delphi automotive llp of the membership interests of gm and the pbgc , and the repurchase of shares and payment of dividends by delphi automotive plc , constituted distributions under the terms of the fourth llp agreement approximating $ 7.2 billion .delphi considers cumulative distributions through december 31 , 2014 to be substantially below the $ 7.2 billion threshold , and intends to vigorously contest the allegations set forth in the complaint .accordingly , no accrual for this matter has been recorded as of december 31 , 2014. .
|
what percentage of major manufacturing sites are in europe middle east& africa?
|
35%
|
{
"answer": "35%",
"decimal": 0.35,
"type": "percentage"
}
| |
continued investments in ecommerce and technology .the increase in operating expenses as a percentage of net sales for fiscal 2017 was partially offset by the impact of store closures in the fourth quarter of fiscal 2016 .membership and other income was relatively flat for fiscal 2018 and increased $ 1.0 billion a0for fiscal 2017 , when compared to the same period in the previous fiscal year .while fiscal 2018 included a $ 387 million gain from the sale of suburbia , a $ 47 million gain from a land sale , higher recycling income from our sustainability efforts and higher membership income from increased plus member penetration at sam's club , these gains were less than gains recognized in fiscal 2017 .fiscal 2017 included a $ 535 million gain from the sale of our yihaodian business and a $ 194 million gain from the sale of shopping malls in chile .for fiscal 2018 , loss on extinguishment of debt was a0$ 3.1 billion , due to the early extinguishment of long-term debt which allowed us to retire higher rate debt to reduce interest expense in future periods .our effective income tax rate was 30.4% ( 30.4 % ) for fiscal 2018 and 30.3% ( 30.3 % ) for both fiscal 2017 and 2016 .although relatively consistent year-over-year , our effective income tax rate may fluctuate from period to period as a result of factors including changes in our assessment of certain tax contingencies , valuation allowances , changes in tax laws , outcomes of administrative audits , the impact of discrete items and the mix of earnings among our u.s .operations and international operations .the reconciliation from the u.s .statutory rate to the effective income tax rates for fiscal 2018 , 2017 and 2016 is presented in note 9 in the "notes to consolidated financial statements" and describes the impact of the enactment of the tax cuts and jobs act of 2017 ( the "tax act" ) to the fiscal 2018 effective income tax rate .as a result of the factors discussed above , we reported $ 10.5 billion and $ 14.3 billion of consolidated net income for fiscal 2018 and 2017 , respectively , which represents a decrease of $ 3.8 billion and $ 0.8 billion for fiscal 2018 and 2017 , respectively , when compared to the previous fiscal year .diluted net income per common share attributable to walmart ( "eps" ) was $ 3.28 and $ 4.38 for fiscal 2018 and 2017 , respectively .walmart u.s .segment .
[['( amounts in millions except unit counts )', 'fiscal years ended january 31 , 2018', 'fiscal years ended january 31 , 2017', 'fiscal years ended january 31 , 2016'], ['net sales', '$ 318477', '$ 307833', '$ 298378'], ['percentage change from comparable period', '3.5% ( 3.5 % )', '3.2% ( 3.2 % )', '3.6% ( 3.6 % )'], ['calendar comparable sales increase', '2.1% ( 2.1 % )', '1.6% ( 1.6 % )', '1.0% ( 1.0 % )'], ['operating income', '$ 17869', '$ 17745', '$ 19087'], ['operating income as a percentage of net sales', '5.6% ( 5.6 % )', '5.8% ( 5.8 % )', '6.4% ( 6.4 % )'], ['unit counts at period end', '4761', '4672', '4574'], ['retail square feet at period end', '705', '699', '690']]
net sales for the walmart u.s .segment increased $ 10.6 billion or 3.5% ( 3.5 % ) and $ 9.5 billion or 3.2% ( 3.2 % ) for fiscal 2018 and 2017 , respectively , when compared to the previous fiscal year .the increases in net sales were primarily due to increases in comparable store sales of 2.1% ( 2.1 % ) and 1.6% ( 1.6 % ) for fiscal 2018 and 2017 , respectively , and year-over-year growth in retail square feet of 0.7% ( 0.7 % ) and 1.4% ( 1.4 % ) for fiscal 2018 and 2017 , respectively .additionally , for fiscal 2018 , sales generated from ecommerce acquisitions further contributed to the year-over-year increase .gross profit rate decreased 24 basis points for fiscal 2018 and increased 24 basis points for fiscal 2017 , when compared to the previous fiscal year .for fiscal 2018 , the decrease was primarily due to strategic price investments and the mix impact from ecommerce .partially offsetting the negative factors for fiscal 2018 was the positive impact of savings from procuring merchandise .for fiscal 2017 , the increase in gross profit rate was primarily due to improved margin in food and consumables , including the impact of savings in procuring merchandise and lower transportation expense from lower fuel costs .operating expenses as a percentage of segment net sales was relatively flat for fiscal 2018 and increased 101 basis points for fiscal 2017 , when compared to the previous fiscal year .fiscal 2018 and fiscal 2017 included charges related to discontinued real estate projects of $ 244 million and $ 249 million , respectively .for fiscal 2017 , the increase was primarily driven by an increase in wage expense due to the investment in the associate wage structure ; the charge related to discontinued real estate projects ; and investments in digital retail and technology .the increase in operating expenses as a percentage of segment net sales for fiscal 2017 was partially offset by the impact of store closures in fiscal 2016 .as a result of the factors discussed above , segment operating income increased $ 124 million for fiscal 2018 and decreased $ 1.3 billion for fiscal 2017 , respectively. .
|
what was the percentage change in net sales from 2017 to 2018
|
3.5%
|
{
"answer": "3.5%",
"decimal": 0.035,
"type": "percentage"
}
| |
american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) maturities 2014as of december 31 , 2003 , aggregate principal payments of long-term debt , including capital leases , for the next five years and thereafter are estimated to be ( in thousands ) : year ending december 31 .
[['2004', '$ 77622'], ['2005', '115444'], ['2006', '365051'], ['2007', '728153'], ['2008', '808043'], ['thereafter', '1650760'], ['total cash obligations', '3745073'], ['accreted value of original issue discount of the ati 12.25% ( 12.25 % ) notes', '-339601 ( 339601 )'], ['accreted value of the related warrants', '-44247 ( 44247 )'], ['balance as of december 31 2003', '$ 3361225']]
the holders of the company 2019s convertible notes have the right to require the company to repurchase their notes on specified dates prior to their maturity dates in 2009 and 2010 , but the company may pay the purchase price by issuing shares of class a common stock , subject to certain conditions .obligations with respect to the right of the holders to put the 6.25% ( 6.25 % ) notes and 5.0% ( 5.0 % ) notes have been included in the table above as if such notes mature on the date of their put rights in 2006 and 2007 , respectively .( see note 19. ) 8 .derivative financial instruments under the terms of the credit facilities , 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 , 2003 are with credit worthy institutions .as of december 31 , 2003 , the company had three interest rate caps outstanding that include an aggregate notional amount of $ 500.0 million ( each at an interest rate of 5% ( 5 % ) ) and expire in 2004 .as of december 31 , 2003 and 2002 , liabilities related to derivative financial instruments of $ 0.0 million and $ 15.5 million are reflected in other long-term liabilities in the accompanying consolidated balance sheet .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 and a loss of approximately $ 2.2 million for the years ended december 31 , 2002 and 2001 , respectively , which are recorded in loss on investments and other expense in the accompanying consolidated statements of operations for those periods .the company records the changes in fair value of its derivative instruments that are not accounted for as hedges in loss on investments and other expense .the company 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 , 2003. .
|
what will be the balance of aggregate principal payments of long-term debt as of december 31 , 2005 , assuming that no new debt is issued?
|
3168159
|
{
"answer": "3168159",
"decimal": 3168159,
"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 was the percentage change in cash flows used in investing activities from 2017 to 2018?
|
-18%
|
{
"answer": "-18%",
"decimal": -0.18,
"type": "percentage"
}
| |
item 7 .management 2019s discussion and analysis of financial condition and results of operations the following discussion and analysis is based primarily on the consolidated financial statements of welltower inc .for the periods presented and should be read together with the notes thereto contained in this annual report on form 10-k .other important factors are identified in 201citem 1 2014 business 201d and 201citem 1a 2014 risk factors 201d above .executive summary company overview welltower inc .( nyse : hcn ) , an s&p 500 company headquartered in toledo , ohio , is driving the transformation of health care infrastructure .the company invests with leading seniors housing operators , post- acute providers and health systems to fund the real estate and infrastructure needed to scale innovative care delivery models and improve people 2019s wellness and overall health care experience .welltowertm , a real estate investment trust ( 201creit 201d ) , owns interests in properties concentrated in major , high-growth markets in the united states , canada and the united kingdom , consisting of seniors housing and post-acute communities and outpatient medical properties .our capital programs , when combined with comprehensive planning , development and property management services , make us a single-source solution for acquiring , planning , developing , managing , repositioning and monetizing real estate assets .the following table summarizes our consolidated portfolio for the year ended december 31 , 2016 ( dollars in thousands ) : type of property net operating income ( noi ) ( 1 ) percentage of number of properties .
[['type of property', 'net operating income ( noi ) ( 1 )', 'percentage of noi', 'number of properties'], ['triple-net', '$ 1208860', '50.3% ( 50.3 % )', '631'], ['seniors housing operating', '814114', '33.9% ( 33.9 % )', '420'], ['outpatient medical', '380264', '15.8% ( 15.8 % )', '262'], ['totals', '$ 2403238', '100.0% ( 100.0 % )', '1313']]
( 1 ) excludes our share of investments in unconsolidated entities and non-segment/corporate noi .entities in which we have a joint venture with a minority partner are shown at 100% ( 100 % ) of the joint venture amount .business strategy our primary objectives are to protect stockholder capital and enhance stockholder value .we seek to pay consistent cash dividends to stockholders and create opportunities to increase dividend payments to stockholders as a result of annual increases in net operating income and portfolio growth .to meet these objectives , we invest across the full spectrum of seniors housing and health care real estate and diversify our investment portfolio by property type , relationship and geographic location .substantially all of our revenues are derived from operating lease rentals , resident fees and services , and interest earned on outstanding loans receivable .these items represent our primary sources of liquidity to fund distributions and depend upon the continued ability of our obligors to make contractual rent and interest payments to us and the profitability of our operating properties .to the extent that our customers/partners experience operating difficulties and become unable to generate sufficient cash to make payments to us , there could be a material adverse impact on our consolidated results of operations , liquidity and/or financial condition .to mitigate this risk , we monitor our investments through a variety of methods determined by the type of property .our proactive and comprehensive asset management process for seniors housing properties generally includes review of monthly financial statements and other operating data for each property , review of obligor/ partner creditworthiness , property inspections , and review of covenant compliance relating to licensure , real estate taxes , letters of credit and other collateral .our internal property management division actively manages and monitors the outpatient medical portfolio with a comprehensive process including review of tenant relations , lease expirations , the mix of health service providers , hospital/health system relationships , property performance .
|
what was net operating income in millions attributable to triple-net and seniors housing?
|
2022974
|
{
"answer": "2022974",
"decimal": 2022974,
"type": "float"
}
| |
entergy new orleans , inc .and subsidiaries management 2019s financial discussion and analysis entergy new orleans 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 )'], ['$ 14215', '$ 15794', '$ 442', '$ 4737']]
see note 4 to the financial statements for a description of the money pool .entergy new orleans has a credit facility in the amount of $ 25 million scheduled to expire in november 2018 .the credit facility allows entergy new orleans to issue letters of credit against $ 10 million of the borrowing capacity of the facility .as of december 31 , 2016 , there were no cash borrowings and a $ 0.8 million letter of credit was outstanding under the facility .in addition , entergy new orleans is a party to an uncommitted letter of credit facility as a means to post collateral to support its obligations under miso .as of december 31 , 2016 , a $ 6.2 million letter of credit was outstanding under entergy new orleans 2019s letter of credit facility .see note 4 to the financial statements for additional discussion of the credit facilities .entergy new orleans obtained authorization from the ferc through october 2017 for short-term borrowings not to exceed an aggregate amount of $ 100 million at any time outstanding .see note 4 to the financial statements for further discussion of entergy new orleans 2019s short-term borrowing limits .the long-term securities issuances of entergy new orleans are limited to amounts authorized by the city council , and the current authorization extends through june 2018 .state and local rate regulation the rates that entergy new orleans charges for electricity and natural gas significantly influence its financial position , results of operations , and liquidity .entergy new orleans is regulated and the rates charged to its customers are determined in regulatory proceedings .a governmental agency , the city council , is primarily responsible for approval of the rates charged to customers .retail rates see 201calgiers asset transfer 201d below for discussion of the transfer from entergy louisiana to entergy new orleans of certain assets that serve algiers customers .in march 2013 , entergy louisiana filed a rate case for the algiers area , which is in new orleans and is regulated by the city council .entergy louisiana requested a rate increase of $ 13 million over three years , including a 10.4% ( 10.4 % ) return on common equity and a formula rate plan mechanism identical to its lpsc request .in january 2014 the city council advisors filed direct testimony recommending a rate increase of $ 5.56 million over three years , including an 8.13% ( 8.13 % ) return on common equity .in june 2014 the city council unanimously approved a settlement that includes the following : 2022 a $ 9.3 million base rate revenue increase to be phased in on a levelized basis over four years ; 2022 recovery of an additional $ 853 thousand annually through a miso recovery rider ; and 2022 the adoption of a four-year formula rate plan requiring the filing of annual evaluation reports in may of each year , commencing may 2015 , with resulting rates being implemented in october of each year .the formula rate plan includes a midpoint target authorized return on common equity of 9.95% ( 9.95 % ) with a +/- 40 basis point bandwidth .the rate increase was effective with bills rendered on and after the first billing cycle of july 2014 .additional compliance filings were made with the city council in october 2014 for approval of the form of certain rate riders , including among others , a ninemile 6 non-fuel cost recovery interim rider , allowing for contemporaneous recovery of capacity .
|
what is the maximum target authorized return on common equity under the formula rate plan?
|
10.35
|
{
"answer": "10.35",
"decimal": 10.35,
"type": "float"
}
| |
hologic , inc .notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) the aggregate purchase price for suros of approximately $ 248000 ( subject to adjustment ) consisted of 2300 shares of hologic common stock valued at $ 106500 , cash paid of $ 139000 , and approximately $ 2600 for acquisition related fees and expenses .the company determined the fair value of the shares issued in connection with the acquisition in accordance with eitf issue no .99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination .the components and allocation of the purchase price , consists of the following approximate amounts: .
[['net tangible assets acquired as of july 27 2006', '$ 12000'], ['in-process research and development', '4900'], ['developed technology and know how', '46000'], ['customer relationship', '17900'], ['trade name', '5800'], ['deferred income taxes', '-21300 ( 21300 )'], ['goodwill', '182800'], ['estimated purchase price', '$ 248100']]
the acquisition also provides for a two-year earn out .the earn-out will be payable in two annual cash installments equal to the incremental revenue growth in suros 2019 business in the two years following the closing .the company has considered the provision of eitf issue no .95-8 , accounting for contingent consideration paid to the shareholders of and acquired enterprise in a purchase business combination , and concluded that this contingent consideration represents additional purchase price .as a result , goodwill will be increased by the amount of the additional consideration , if any , when it becomes due and payable .as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued .it was determined that only customer lists , trademarks and developed technology had separately identifiable values .customer relationships represents suros large installed base that are expected to purchase disposable products on a regular basis .trademarks represent the suros product names that the company intends to continue to use .developed technology represents currently marketable purchased products that the company continues to resell as well as utilize to enhance and incorporate into the company 2019s existing products .the estimated $ 4900 of purchase price allocated to in-process research and development projects primarily related to suros 2019 disposable products .the projects are of various stages of completion and include next generation handpiece and site marker technologies .the company expects that these projects will be completed during fiscal 2007 .the deferred income tax liability relates to the tax effect of acquired identifiable intangible assets , and fair value adjustments to acquired inventory as such amounts are not deductible for tax purposes , partially offset by acquired net operating loss carry forwards that the company believes are realizable .for all of the acquisitions discussed above , goodwill represents the excess of the purchase price over the net identifiable tangible and intangible assets acquired .the company determined that the acquisition of each aeg , r2 and suros resulted in the recognition of goodwill primarily because of synergies unique to the company and the strength of its acquired workforce .supplemental pro-forma information the following unaudited pro forma information presents the consolidated results of operations of the company , r2 and suros as if the acquisitions had occurred at the beginning of each of fiscal 2006 and 2005 .
|
what percentage of the estimated purchase price is due to goodwill?
|
74%
|
{
"answer": "74%",
"decimal": 0.74,
"type": "percentage"
}
| |
the grand gulf recovery variance is primarily due to increased recovery of higher costs resulting from the grand gulf uprate .the volume/weather variance is primarily due to the effects of more favorable weather on residential sales and an increase in industrial sales primarily due to growth in the refining segment .the fuel recovery variance is primarily due to : 2022 the deferral of increased capacity costs that will be recovered through fuel adjustment clauses ; 2022 the expiration of the evangeline gas contract on january 1 , 2013 ; and 2022 an adjustment to deferred fuel costs recorded in the third quarter 2012 in accordance with a rate order from the puct issued in september 2012 .see note 2 to the financial statements for further discussion of this puct order issued in entergy texas's 2011 rate case .the miso deferral variance is primarily due to the deferral in april 2013 , as approved by the apsc , of costs incurred since march 2010 related to the transition and implementation of joining the miso rto .the decommissioning trusts variance is primarily due to lower regulatory credits resulting from higher realized income on decommissioning trust fund investments .there is no effect on net income as the credits are offset by interest and investment income .entergy wholesale commodities following is an analysis of the change in net revenue comparing 2013 to 2012 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2012 net revenue', '$ 1854'], ['mark-to-market', '-58 ( 58 )'], ['nuclear volume', '-24 ( 24 )'], ['nuclear fuel expenses', '-20 ( 20 )'], ['nuclear realized price changes', '58'], ['other', '-8 ( 8 )'], ['2013 net revenue', '$ 1802']]
as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 52 million in 2013 primarily due to : 2022 the effect of rising forward power prices on electricity derivative instruments that are not designated as hedges , including additional financial power sales conducted in the fourth quarter 2013 to offset the planned exercise of in-the-money protective call options and to lock in margins .these additional sales did not qualify for hedge accounting treatment , and increases in forward prices after those sales were made accounted for the majority of the negative mark-to-market variance .it is expected that the underlying transactions will result in earnings in first quarter 2014 as these positions settle .see note 16 to the financial statements for discussion of derivative instruments ; 2022 the decrease in net revenue compared to prior year resulting from the exercise of resupply options provided for in purchase power agreements where entergy wholesale commodities may elect to supply power from another source when the plant is not running .amounts related to the exercise of resupply options are included in the gwh billed in the table below ; and entergy corporation and subsidiaries management's financial discussion and analysis .
|
what are the nuclear fuel expenses as a percentage of the decrease in net revenue from 2012 to 2013?
|
38.5%
|
{
"answer": "38.5%",
"decimal": 0.385,
"type": "percentage"
}
| |
jpmorgan chase & co./2017 annual report 115 impact of wrong-way risk , which is broadly defined as the potential for increased correlation between the firm 2019s exposure to a counterparty ( avg ) and the counterparty 2019s credit quality .many factors may influence the nature and magnitude of these correlations over time .to the extent that these correlations are identified , the firm may adjust the cva associated with that counterparty 2019s avg .the firm risk manages exposure to changes in cva by entering into credit derivative transactions , as well as interest rate , foreign exchange , equity and commodity derivative transactions .the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the peak , dre and avg metrics .the three measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio .exposure profile of derivatives measures december 31 , 2017 ( in billions ) the following table summarizes the ratings profile by derivative counterparty of the firm 2019s derivative receivables , including credit derivatives , net of all collateral , at the dates indicated .the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as assigned by s&p and moody 2019s .ratings profile of derivative receivables .
[['rating equivalent december 31 ( in millions except ratios )', 'rating equivalent exposure net of all collateral', 'rating equivalent % ( % ) of exposure netof all collateral', 'exposure net of all collateral', '% ( % ) of exposure netof all collateral'], ['aaa/aaa to aa-/aa3', '$ 11529', '29% ( 29 % )', '$ 11449', '28% ( 28 % )'], ['a+/a1 to a-/a3', '6919', '17', '8505', '20'], ['bbb+/baa1 to bbb-/baa3', '13925', '34', '13127', '32'], ['bb+/ba1 to b-/b3', '7397', '18', '7308', '18'], ['ccc+/caa1 and below', '645', '2', '984', '2'], ['total', '$ 40415', '100% ( 100 % )', '$ 41373', '100% ( 100 % )']]
as previously noted , the firm uses collateral agreements to mitigate counterparty credit risk .the percentage of the firm 2019s over-the-counter derivatives transactions subject to collateral agreements 2014 excluding foreign exchange spot trades , which are not typically covered by collateral agreements due to their short maturity and centrally cleared trades that are settled daily 2014 was approximately 90% ( 90 % ) as of december 31 , 2017 , largely unchanged compared with december 31 , 2016 .credit derivatives the firm uses credit derivatives for two primary purposes : first , in its capacity as a market-maker , and second , as an end-user to manage the firm 2019s own credit risk associated with various exposures .for a detailed description of credit derivatives , see credit derivatives in note 5 .credit portfolio management activities included in the firm 2019s end-user activities are credit derivatives used to mitigate the credit risk associated with traditional lending activities ( loans and unfunded commitments ) and derivatives counterparty exposure in the firm 2019s wholesale businesses ( collectively , 201ccredit portfolio management 201d activities ) .information on credit portfolio management activities is provided in the table below .for further information on derivatives used in credit portfolio management activities , see credit derivatives in note 5 .the firm also uses credit derivatives as an end-user to manage other exposures , including credit risk arising from certain securities held in the firm 2019s market-making businesses .these credit derivatives are not included in credit portfolio management activities ; for further information on these credit derivatives as well as credit derivatives used in the firm 2019s capacity as a market-maker in credit derivatives , see credit derivatives in note 5 .10 years5 years2 years1 year .
|
for 2017 , what percentage of derivative receivables are rated junk?
|
20
|
{
"answer": "20",
"decimal": 20,
"type": "float"
}
|
junk = below bbb+/baa1 to bbb-/baa3
|
the fair value of performance awards is calculated using the market value of a share of snap-on 2019s common stock on the date of grant .the weighted-average grant date fair value of performance awards granted during 2013 , 2012 and 2011 was $ 77.33 , $ 60.00 and $ 55.97 , respectively .vested performance share units approximated 148000 shares as of 2013 year end , 213000 shares as of 2012 year end and 54208 shares as of 2011 year end .performance share units of 213459 shares were paid out in 2013 and 53990 shares were paid out in 2012 ; no performance share units were paid out in 2011 .earned performance share units are generally paid out following the conclusion of the applicable performance period upon approval by the organization and executive compensation committee of the company 2019s board of directors ( the 201cboard 201d ) .based on the company 2019s 2013 performance , 84413 rsus granted in 2013 were earned ; assuming continued employment , these rsus will vest at the end of fiscal 2015 .based on the company 2019s 2012 performance , 95047 rsus granted in 2012 were earned ; assuming continued employment , these rsus will vest at the end of fiscal 2014 .based on the company 2019s 2011 performance , 159970 rsus granted in 2011 were earned ; these rsus vested as of fiscal 2013 year end and were paid out shortly thereafter .as a result of employee retirements , a total of 1614 of the rsus earned in 2012 and 2011 vested pursuant to the terms of the related award agreements and the underlying shares were paid out in the third quarter of 2013 .the changes to the company 2019s non-vested performance awards in 2013 are as follows : shares ( in thousands ) fair value price per share* .
[['', 'shares ( in thousands )', 'fair valueprice pershare*'], ['non-vested performance awards at beginning of year', '509', '$ 59.36'], ['granted', '180', '77.33'], ['vested', '-306 ( 306 )', '58.94'], ['cancellations', '-2 ( 2 )', '69.23'], ['non-vested performance awards at end of year', '381', '68.13']]
* weighted-average as of 2013 year end there was approximately $ 12.9 million of unrecognized compensation cost related to non-vested performance awards that is expected to be recognized as a charge to earnings over a weighted-average period of 1.6 years .stock appreciation rights ( 201csars 201d ) the company also issues cash-settled and stock-settled sars to certain key non-u.s .employees .sars have a contractual term of ten years and vest ratably on the first , second and third anniversaries of the date of grant .sars are granted with an exercise price equal to the market value of a share of snap-on 2019s common stock on the date of grant .cash-settled sars provide for the cash payment of the excess of the fair market value of snap-on 2019s common stock price on the date of exercise over the grant price .cash-settled sars have no effect on dilutive shares or shares outstanding as any appreciation of snap-on 2019s common stock value over the grant price is paid in cash and not in common stock .in 2013 , the company began issuing stock-settled sars that are accounted for as equity instruments and provide for the issuance of snap-on common stock equal to the amount by which the company 2019s stock has appreciated over the exercise price .stock-settled sars have an effect on dilutive shares and shares outstanding as any appreciation of snap-on 2019s common stock value over the exercise price will be settled in shares of common stock .2013 annual report 101 .
|
what is the total value of non-vested performance awards at end of year , ( in millions ) ?
|
2.1
|
{
"answer": "2.1",
"decimal": 2.1,
"type": "float"
}
| |
table of contents 17 .unconditional purchase obligations the company has entered into various unconditional purchase obligations which primarily include software licenses and long- term purchase contracts for network , communication and office maintenance services .the company expended $ 7.2 million , $ 5.3 million and $ 2.9 million related to unconditional purchase obligations that existed as of the beginning of each year for the years ended december 31 , 2016 , 2015 and 2014 , respectively .future expenditures under unconditional purchase obligations in effect as of december 31 , 2016 are as follows : ( in thousands ) .
[['2017', '$ 14134'], ['2018', '10288'], ['2019', '9724'], ['2020', '2617'], ['2021', '652'], ['total', '$ 37415']]
18 .restructuring during the fourth quarter of 2016 , the company initiated workforce realignment activities .the company incurred $ 3.4 million in restructuring charges , or $ 2.4 million net of tax , during the year ended december 31 , 2016 .the company expects to incur additional charges of $ 10 million - $ 15 million , or $ 7 million - $ 10 million net of tax , primarily during the first quarter of 2017 .19 .employment-related settlement on february 15 , 2017 , the company entered into an employment-related settlement agreement .in connection with the settlement agreement , the company will make a lump-sum payment of $ 4.7 million .the charges related to this agreement are included in selling , general and administrative expense in the 2016 consolidated statement of income .as part of the settlement agreement , all the claims initiated against the company will be withdrawn and a general release of all claims in favor of the company and all of its related entities was executed .20 .contingencies and commitments the company is subject to various investigations , claims and legal proceedings that arise in the ordinary course of business , including commercial disputes , labor and employment matters , tax audits , alleged infringement of intellectual property rights and other matters .in the opinion of the company , the resolution of pending matters is not expected to have a material adverse effect on the company's consolidated results of operations , cash flows or financial position .however , each of these matters is subject to various uncertainties and it is possible that an unfavorable resolution of one or more of these proceedings could materially affect the company's results of operations , cash flows or financial position .an indian subsidiary of the company has several service tax audits pending that have resulted in formal inquiries being received on transactions through mid-2012 .the company could incur tax charges and related liabilities , including those related to the service tax audit case , of approximately $ 7 million .the service tax issues raised in the company 2019s notices and inquiries are very similar to the case , m/s microsoft corporation ( i ) ( p ) ltd .vs commissioner of service tax , new delhi , wherein the delhi customs , excise and service tax appellate tribunal ( cestat ) has passed a favorable ruling to microsoft .the company can provide no assurances on whether the microsoft case 2019s favorable ruling will be challenged in higher courts or on the impact that the present microsoft case 2019s decision will have on the company 2019s cases .the company is uncertain as to when these service tax matters will be concluded .a french subsidiary of the company received notice that the french taxing authority rejected the company's 2012 research and development credit .the company has contested the decision .however , if the company does not receive a favorable outcome , it could incur charges of approximately $ 0.8 million .in addition , an unfavorable outcome could result in the authorities reviewing or rejecting $ 3.8 million of similar research and development credits for 2013 through the current year that are currently reflected as an asset .the company can provide no assurances on the timing or outcome of this matter. .
|
as of december 31 , 2016 what was the percent of the future expenditures under unconditional purchase obligations that was due in 2018
|
27.5%
|
{
"answer": "27.5%",
"decimal": 0.275,
"type": "percentage"
}
| |
entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis results of operations net income 2017 compared to 2016 net income decreased $ 305.7 million primarily due to the effect of the enactment of the tax cuts and jobs act , in december 2017 , which resulted in a decrease of $ 182.6 million in net income in 2017 , and the effect of a settlement with the irs related to the 2010-2011 irs audit , which resulted in a $ 136.1 million reduction of income tax expense in 2016 .also contributing to the decrease in net income were higher other operation and maintenance expenses .the decrease was partially offset by higher net revenue and higher other income .see note 3 to the financial statements for discussion of the effects of the tax cuts and jobs act and the irs audit .2016 compared to 2015 net income increased $ 175.4 million primarily due to the effect of a settlement with the irs related to the 2010-2011 irs audit , which resulted in a $ 136.1 million reduction of income tax expense in 2016 .also contributing to the increase were lower other operation and maintenance expenses , higher net revenue , and higher other income .the increase was partially offset by higher depreciation and amortization expenses , higher interest expense , and higher nuclear refueling outage expenses .see note 3 to the financial statements for discussion of the irs audit .net revenue 2017 compared to 2016 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .following is an analysis of the change in net revenue comparing 2017 to 2016 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2016 net revenue', '$ 2438.4'], ['regulatory credit resulting from reduction of thefederal corporate income tax rate', '55.5'], ['retail electric price', '42.8'], ['louisiana act 55 financing savings obligation', '17.2'], ['volume/weather', '-12.4 ( 12.4 )'], ['other', '19.0'], ['2017 net revenue', '$ 2560.5']]
the regulatory credit resulting from reduction of the federal corporate income tax rate variance is due to the reduction of the vidalia purchased power agreement regulatory liability by $ 30.5 million and the reduction of the louisiana act 55 financing savings obligation regulatory liabilities by $ 25 million as a result of the enactment of the tax cuts and jobs act , in december 2017 , which lowered the federal corporate income tax rate from 35% ( 35 % ) to 21% ( 21 % ) .the effects of the tax cuts and jobs act are discussed further in note 3 to the financial statements. .
|
in 2016 what was the ratio of the increase in the net income to the decrease in tax
|
1.3
|
{
"answer": "1.3",
"decimal": 1.3,
"type": "float"
}
| |
hologic , inc .notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) determination of the measurement date for the market price of acquirer securities issued in a purchase business combination .the components and allocation of the purchase price , consists of the following approximate amounts: .
[['net tangible assets acquired as of july 13 2006', '$ 800'], ['in-process research and development', '10200'], ['developed technology and know how', '39500'], ['customer relationship', '15700'], ['trade name', '3300'], ['order backlog', '800'], ['deferred income taxes', '4400'], ['goodwill', '145900'], ['estimated purchase price', '$ 220600']]
the company has begun to assess and formulate a plan to restructure certain of r2 2019s historical activities .as of the acquisition date the company recorded a liability of approximately $ 798 in accordance with eitf issue no .95-3 , recognition of liabilities in connection with a purchase business combination , related to the termination of certain employees and loss related to the abandonment of certain lease space under this plan of which approximately $ 46 has been paid as of september 30 , 2006 .the company believes this plan will be finalized within one year from the acquisition date and will record any additional liabilities at such time resulting in an increase to goodwill .the final purchase price allocations will be completed within one year of the acquisition and any adjustments are not expected to have a material impact on the company 2019s financial position or results of operation .as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued .it was determined that only customer relationships , trademarks and developed technology had separately identifiable values .customer relationships represent r2 2019s strong active customer base , dominant market position and strong partnership with several large companies .trademarks represent the r2 product names that the company intends to continue to use .developed technology represents currently marketable purchased products that the company continues to resell as well as utilize to enhance and incorporate into the company 2019s existing products .the estimated $ 10200 of purchase price allocated to in-process research and development projects primarily related to r2s digital cad products .the projects are expected to add direct digital algorithm capabilities as well as a new platform technology to analyze images and breast density measurement .the project is approximately 20% ( 20 % ) complete and the company expects to spend approximately $ 3100 over the year to complete .the deferred income tax asset relates to the tax effect of acquired net operating loss carry forwards that the company believes are realizable partially offset by acquired identifiable intangible assets , and fair value adjustments to acquired inventory as such amounts are not deductible for tax purposes .acquisition of suros surgical systems , inc .on july 27 , 2006 , the company completed the acquisition of suros surgical systems , inc. , pursuant to an agreement and plan of merger dated april 17 , 2006 .the results of operations for suros have been included in the company 2019s consolidated financial statements from the date of acquisition as part of its mammography business segment .suros surgical , located in indianapolis , indiana , develops , manufactures and sells minimally invasive interventional breast biopsy technology and products for biopsy , tissue removal and biopsy site marking. .
|
what percentage of the estimated purchase price is developed technology and know how?
|
18%
|
{
"answer": "18%",
"decimal": 0.18,
"type": "percentage"
}
| |
location approximate size ( sq .ft. ) segment majority owned or leased .
[['location', 'approximatesize ( sq . ft. )', 'segment', 'majorityowned orleased'], ['hamilton new zealand', '96000', 'global institutional global industrial', 'owned'], ['calgary alberta canada', '94000', 'global energy', 'owned'], ['kwinana australia', '87000', 'global institutional global industrial', 'owned'], ['revesby australia', '87000', 'global institutional global industrial', 'owned'], ['yangsan korea', '85000', 'global energy global industrial', 'owned'], ['cisterna italy', '80000', 'global industrial', 'owned'], ['rovigo italy', '77000', 'global institutional', 'owned'], ['cuautitlan mexico', '76000', 'global institutional global industrial', 'owned'], ['barueri brazil', '75000', 'global institutional global industrial', 'leased'], ['mullingar ireland', '74000', 'global institutional global industrial', 'leased'], ['mosta malta', '73000', 'global institutional', 'leased']]
generally , our manufacturing facilities are adequate to meet our existing in-house production needs .we continue to invest in our plant sites to maintain viable operations and to add capacity as necessary to meet business imperatives .most of our manufacturing plants also serve as distribution centers .in addition , we operate distribution centers around the world , most of which are leased , and utilize third party logistics service providers to facilitate the distribution of our products and services .at year end 2016 ecolab 2019s corporate headquarters was comprised of three adjacent multi-storied buildings located in downtown st .paul , minnesota .the main 19-story building was constructed to our specifications and is leased through june 30 , 2018 .the second building is leased through 2019 .the company intends to vacate the current leased buildings in 2018 .the third building is owned .ecolab acquired the 17-story north tower from the travelers indemnity company in downtown st .paul , minnesota on august 4 , 2015 .this building became the corporate headquarters in 2017 .a 90 acre campus in eagan , minnesota is owned and provides for future growth .the eagan facility houses a significant research and development center , a data center and training facilities as well as several of our administrative functions .we also have a significant business presence in naperville , illinois , where our water and paper operating segment maintain their principal administrative offices and research center .as discussed in part ii , item 8 , note 6 , 201cdebt and interest 201d of this form 10-k , the company acquired the beneficial interest in the trust owning these facilities during 2015 .our energy operating segment maintains administrative and research facilities in sugar land , texas and additional research facilities in fresno , texas .in december 2013 , we announced the construction of a new 133000 square-foot headquarters building adjacent to the existing sugar land operations which was completed in early 2016 and renovation of the existing 45000 square-foot research facilities in sugar land .significant regional administrative and/or research facilities are located in leiden , netherlands , campinas , brazil , and pune , india , which we own , and in monheim , germany , singapore , shanghai , china , and zurich , switzerland , which we lease .we also have a network of small leased sales offices in the united states and , to a lesser extent , in other parts of the world .item 3 .legal proceedings .discussion of legal proceedings is incorporated by reference from part ii , item 8 , note 15 , 201ccommitments and contingencies , 201d of this form 10-k and should be considered an integral part of part i , item 3 , 201clegal proceedings . 201d other environmental-related legal proceedings are discussed at part i , item 1 ( c ) above , under the heading 201cenvironmental and regulatory considerations 201d and is incorporated herein by reference .item 4 .mine safety disclosures .not applicable. .
|
how many square feet are leased by the company?
|
222000
|
{
"answer": "222000",
"decimal": 222000,
"type": "float"
}
| |
issuer purchases of equity securities during the three months ended december 31 , 2007 , we repurchased 8895570 shares of our class a common stock for an aggregate of $ 385.1 million pursuant to the $ 1.5 billion stock repurchase program publicly announced in february 2007 , as follows : period total number of shares purchased ( 1 ) average price paid per share total number of shares purchased as part of publicly announced plans or programs approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions ) .
[['period', 'total number of shares purchased ( 1 )', 'average price paid per share', 'total number of shares purchased as part of publicly announced plans or programs', 'approximate dollar value of shares that may yet be purchased under the plans or programs ( in millions )'], ['october 2007', '3493426', '$ 43.30', '3493426', '$ 449.9'], ['november 2007', '2891719', '$ 44.16', '2891719', '$ 322.2'], ['december 2007', '2510425', '$ 44.20', '2510425', '$ 216.2'], ['total fourth quarter', '8895570', '$ 43.27', '8895570', '$ 216.2']]
( 1 ) issuer repurchases pursuant to the $ 1.5 billion stock repurchase program publicly announced in february 2007 .under this program , our management was authorized through february 2008 to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements , and subject to market conditions and other factors .to facilitate repurchases , we typically made purchases pursuant to trading plans under rule 10b5-1 of the exchange act , which allow us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods .subsequent to december 31 , 2007 , we repurchased 4.3 million shares of our class a common stock for an aggregate of $ 163.7 million pursuant to this program .in february 2008 , our board of directors approved a new stock repurchase program , pursuant to which we are authorized to purchase up to an additional $ 1.5 billion of our class a common stock .purchases under this stock repurchase program are subject to us having available cash to fund repurchases , as further described in item 1a of this annual report under the caption 201crisk factors 2014we anticipate that we may need additional financing to fund our stock repurchase programs , to refinance our existing indebtedness and to fund future growth and expansion initiatives 201d and item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources . 201d .
|
during the 4th quarter of 2007 and the first quarter of 2008 , what were cumulative stock purchases in million dollars?
|
548.8
|
{
"answer": "548.8",
"decimal": 548.8,
"type": "float"
}
| |
note 12 derivative instruments and fair value measurements the company is exposed to certain market risks such as changes in interest rates , foreign currency exchange rates , and commodity prices , which exist as a part of its ongoing business operations .management uses derivative financial and commodity instruments , including futures , options , and swaps , where appropriate , to manage these risks .instruments used as hedges must be effective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the contract .the company designates derivatives as cash flow hedges , fair value hedges , net investment hedges , and uses other contracts to reduce volatility in interest rates , foreign currency and commodities .as a matter of policy , the company does not engage in trading or speculative hedging transactions .total notional amounts of the company 2019s derivative instruments as of december 29 , 2012 and december 31 , 2011 were as follows: .
[['( millions )', '2012', '2011'], ['foreign currency exchange contracts', '$ 570', '$ 1265'], ['interest rate contracts', '2150', '600'], ['commodity contracts', '136', '175'], ['total', '$ 2856', '$ 2040']]
following is a description of each category in the fair value hierarchy and the financial assets and liabilities of the company that were included in each category at december 29 , 2012 and december 31 , 2011 , measured on a recurring basis .level 1 2014 financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market .for the company , level 1 financial assets and liabilities consist primarily of commodity derivative contracts .level 2 2014 financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability .for the company , level 2 financial assets and liabilities consist of interest rate swaps and over-the-counter commodity and currency contracts .the company 2019s calculation of the fair value of interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve .over-the-counter commodity derivatives are valued using an income approach based on the commodity index prices less the contract rate multiplied by the notional amount .foreign currency contracts are valued using an income approach based on forward rates less the contract rate multiplied by the notional amount .the company 2019s calculation of the fair value of level 2 financial assets and liabilities takes into consideration the risk of nonperformance , including counterparty credit risk .level 3 2014 financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement .these inputs reflect management 2019s own assumptions about the assumptions a market participant would use in pricing the asset or liability .the company did not have any level 3 financial assets or liabilities as of december 29 , 2012 or december 31 , 2011 .the following table presents assets and liabilities that were measured at fair value in the consolidated balance sheet on a recurring basis as of december 29 , 2012 and december 31 , 2011 : derivatives designated as hedging instruments : 2012 2011 ( millions ) level 1 level 2 total level 1 level 2 total assets : foreign currency exchange contracts : other current assets $ 2014 $ 4 $ 4 $ 2014 $ 11 $ 11 interest rate contracts ( a ) : other assets 2014 64 64 2014 23 23 commodity contracts : other current assets 2014 2014 2014 2 2014 2 total assets $ 2014 $ 68 $ 68 $ 2 $ 34 $ 36 liabilities : foreign currency exchange contracts : other current liabilities $ 2014 $ ( 3 ) $ ( 3 ) $ 2014 $ ( 18 ) $ ( 18 ) commodity contracts : other current liabilities 2014 ( 11 ) ( 11 ) ( 4 ) ( 12 ) ( 16 ) other liabilities 2014 ( 27 ) ( 27 ) 2014 ( 34 ) ( 34 ) total liabilities $ 2014 $ ( 41 ) $ ( 41 ) $ ( 4 ) $ ( 64 ) $ ( 68 ) ( a ) the fair value of the related hedged portion of the company 2019s long-term debt , a level 2 liability , was $ 2.3 billion as of december 29 , 2012 and $ 626 million as of december 31 , derivatives not designated as hedging instruments : 2012 2011 ( millions ) level 1 level 2 total level 1 level 2 total assets : commodity contracts : other current assets $ 5 $ 2014 $ 5 $ 2014 $ 2014 $ 2014 total assets $ 5 $ 2014 $ 5 $ 2014 $ 2014 $ 2014 liabilities : commodity contracts : other current liabilities $ ( 3 ) $ 2014 $ ( 3 ) $ 2014 $ 2014 $ 2014 total liabilities $ ( 3 ) $ 2014 $ ( 3 ) $ 2014 $ 2014 $ 2014 .
|
by what percent did the total notional amount of the company's derivatives increase between 2011 and 2012?
|
40%
|
{
"answer": "40%",
"decimal": 0.4,
"type": "percentage"
}
| |
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 net change in the balance of reinsurance receivables and premium receivables from 2014 to 2015?
|
-6619
|
{
"answer": "-6619",
"decimal": -6619,
"type": "float"
}
| |
corporate and government bonds corporate and government bonds are classified as level 2 assets , as they are either valued at quoted market prices from observable pricing sources at the reporting date or valued based upon comparable securities with similar yields and credit ratings .real estate pooled funds real estate pooled funds are classified as level 3 assets , as they are carried at the estimated fair value of the underlying properties .estimated fair value is calculated utilizing a combination of key inputs , such as revenue and expense growth rates , terminal capitalization rates , and discount rates .these key inputs are consistent with practices prevailing within the real estate investment management industry .other pooled funds other pooled funds classified as level 2 assets are valued at the nav of the shares held at year end , which is based on the fair value of the underlying investments .securities and interests classified as level 3 are carried at the estimated fair value .the estimated fair value is based on the fair value of the underlying investment values , which includes estimated bids from brokers or other third-party vendor sources that utilize expected cash flow streams and other uncorroborated data including counterparty credit quality , default risk , discount rates , and the overall capital market liquidity .insurance contracts insurance contracts are classified as level 3 assets , as they are carried at contract value , which approximates the estimated fair value .the estimated fair value is based on the fair value of the underlying investment of the insurance company .contributions and projected benefit payments pension contributions to funded plans and benefit payments for unfunded plans for fiscal year 2016 were $ 79.3 .contributions for funded plans resulted primarily from contractual and regulatory requirements .benefit payments to unfunded plans were due primarily to the timing of retirements and cost reduction actions .we anticipate contributing $ 65 to $ 85 to the defined benefit pension plans in 2017 .these contributions are anticipated to be driven primarily by contractual and regulatory requirements for funded plans and benefit payments for unfunded plans , which are dependent upon timing of retirements and actions to reorganize the business .projected benefit payments , which reflect expected future service , are as follows: .
[['', 'u.s .', 'international'], ['2017', '$ 150.3', '$ 45.7'], ['2018', '152.7', '48.3'], ['2019', '157.2', '50.2'], ['2020', '161.8', '51.1'], ['2021', '166.7', '54.3'], ['2022 20132026', '909.6', '306.9']]
these estimated benefit payments are based on assumptions about future events .actual benefit payments may vary significantly from these estimates .defined contribution plans we maintain a nonleveraged employee stock ownership plan ( esop ) which forms part of the air products and chemicals , inc .retirement savings plan ( rsp ) .the esop was established in may of 2002 .the balance of the rsp is a qualified defined contribution plan including a 401 ( k ) elective deferral component .a substantial portion of u.s .employees are eligible and participate .we treat dividends paid on esop shares as ordinary dividends .under existing tax law , we may deduct dividends which are paid with respect to shares held by the plan .shares of the company 2019s common stock in the esop totaled 3031534 as of 30 september 2016 .our contributions to the rsp include a company core contribution for certain eligible employees who do not receive their primary retirement benefit from the defined benefit pension plans , with the core contribution based .
|
considering the year 2019 , what is the highest projected benefit payment value?
|
157.2
|
{
"answer": "157.2",
"decimal": 157.2,
"type": "float"
}
|
it is the maximum value of the projected benefit payment observed in that year .
|
table of contents respect to the mainline american and the mainline us airways dispatchers , flight simulator engineers and flight crew training instructors , all of whom are now represented by the twu , a rival organization , the national association of airline professionals ( naap ) , filed single carrier applications seeking to represent those employees .the nmb will have to determine that a single transportation system exists and will certify a post-merger representative of the combined employee groups before the process for negotiating new jcbas can begin .the merger had no impact on the cbas that cover the employees of our wholly-owned subsidiary airlines which are not being merged ( envoy , piedmont and psa ) .for those employees , the rla provides that cbas do not expire , but instead become amendable as of a stated date .in 2014 , envoy pilots ratified a new 10 year collective bargaining agreement , piedmont pilots ratified a new 10 year collective bargaining agreement and piedmont flight attendants ratified a new five-year collective bargaining agreement .with the exception of the passenger service employees who are now engaged in traditional rla negotiations that are expected to result in a jcba and the us airways flight simulator engineers and flight crew training instructors , other union-represented american mainline employees are covered by agreements that are not currently amendable .until those agreements become amendable , negotiations for jcbas will be conducted outside the traditional rla bargaining process described above , and , in the meantime , no self-help will be permissible .the piedmont mechanics and stock clerks and the psa and piedmont dispatchers also have agreements that are now amendable and are engaged in traditional rla negotiations .none of the unions representing our employees presently may lawfully engage in concerted refusals to work , such as strikes , slow-downs , sick-outs or other similar activity , against us .nonetheless , there is a risk that disgruntled employees , either with or without union involvement , could engage in one or more concerted refusals to work that could individually or collectively harm the operation of our airline and impair our financial performance .for more discussion , see part i , item 1a .risk factors 2013 201cunion disputes , employee strikes and other labor-related disruptions may adversely affect our operations . 201d aircraft fuel our operations and financial results are significantly affected by the availability and price of jet fuel .based on our 2015 forecasted mainline and regional fuel consumption , we estimate that , as of december 31 , 2014 , a one cent per gallon increase in aviation fuel price would increase our 2015 annual fuel expense by $ 43 million .the following table shows annual aircraft fuel consumption and costs , including taxes , for our mainline operations for 2012 through 2014 ( gallons and aircraft fuel expense in millions ) .year gallons average price per gallon aircraft fuel expense percent of total mainline operating expenses .
[['year', 'gallons', 'average price per gallon', 'aircraft fuel expense', 'percent of total mainline operating expenses'], ['2014', '3644', '$ 2.91', '$ 10592', '33.2% ( 33.2 % )'], ['2013 ( a )', '3608', '3.08', '11109', '35.4'], ['2012 ( a )', '3512', '3.19', '11194', '35.8']]
( a ) represents 201ccombined 201d financial data , which includes the financial results of american and us airways group each on a standalone basis .total combined fuel expenses for our wholly-owned and third-party regional carriers operating under capacity purchase agreements of american and us airways group , each on a standalone basis , were $ 2.0 billion , $ 2.1 billion and $ 2.1 billion for the years ended december 31 , 2014 , 2013 and 2012 , respectively. .
|
what were total mainline operating expenses in 2014?
|
31903
|
{
"answer": "31903",
"decimal": 31903,
"type": "float"
}
| |
own debt valuation adjustments ( dva ) own debt valuation adjustments are recognized on citi 2019s liabilities for which the fair value option has been elected using citi 2019s credit spreads observed in the bond market .effective january 1 , 2016 , changes in fair value of fair value option liabilities related to changes in citigroup 2019s own credit spreads ( dva ) are reflected as a component of aoci .see note 1 to the consolidated financial statements for additional information .among other variables , the fair value of liabilities for which the fair value option has been elected ( other than non-recourse and similar liabilities ) is impacted by the narrowing or widening of the company 2019s credit spreads .the estimated changes in the fair value of these liabilities due to such changes in the company 2019s own credit spread ( or instrument-specific credit risk ) were a gain of $ 1415 million and a loss of $ 680 million for the years ended december 31 , 2018 and 2017 , respectively .changes in fair value resulting from changes in instrument-specific credit risk were estimated by incorporating the company 2019s current credit spreads observable in the bond market into the relevant valuation technique used to value each liability as described above .the fair value option for financial assets and financial liabilities selected portfolios of securities purchased under agreements to resell , securities borrowed , securities sold under agreements to repurchase , securities loaned and certain non-collateralized short-term borrowings the company elected the fair value option for certain portfolios of fixed income securities purchased under agreements to resell and fixed income securities sold under agreements to repurchase , securities borrowed , securities loaned and certain non-collateralized short-term borrowings held primarily by broker-dealer entities in the united states , united kingdom and japan .in each case , the election was made because the related interest rate risk is managed on a portfolio basis , primarily with offsetting derivative instruments that are accounted for at fair value through earnings .changes in fair value for transactions in these portfolios are recorded in principal transactions .the related interest revenue and interest expense are measured based on the contractual rates specified in the transactions and are reported as interest revenue and interest expense in the consolidated statement of income .certain loans and other credit products citigroup has also elected the fair value option for certain other originated and purchased loans , including certain unfunded loan products , such as guarantees and letters of credit , executed by citigroup 2019s lending and trading businesses .none of these credit products are highly leveraged financing commitments .significant groups of transactions include loans and unfunded loan products that are expected to be either sold or securitized in the near term , or transactions where the economic risks are hedged with derivative instruments , such as purchased credit default swaps or total return swaps where the company pays the total return on the underlying loans to a third party .citigroup has elected the fair value option to mitigate accounting mismatches in cases where hedge accounting is complex and to achieve operational simplifications .fair value was not elected for most lending transactions across the company .the following table provides information about certain credit products carried at fair value: .
[['in millions of dollars', 'december 31 2018 trading assets', 'december 31 2018 loans', 'december 31 2018 trading assets', 'loans'], ['carrying amount reported on the consolidated balance sheet', '$ 10108', '$ 3224', '$ 8851', '$ 4374'], ['aggregate unpaid principal balance in excess of fair value', '435', '741', '623', '682'], ['balance of non-accrual loans or loans more than 90 days past due', '2014', '1', '2014', '1'], ['aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days past due', '2014', '2014', '2014', '1']]
in addition to the amounts reported above , $ 1137 million and $ 508 million of unfunded commitments related to certain credit products selected for fair value accounting were outstanding as of december 31 , 2018 and 2017 , respectively. .
|
what was the difference in millions of carrying amount reported on the consolidated balance sheet for trading assets between 2018 and the year prior?
|
1257
|
{
"answer": "1257",
"decimal": 1257,
"type": "float"
}
| |
the graph below compares expeditors international of washington , inc.'s cumulative 5-year total shareholder return on common stock with the cumulative total returns of the s&p 500 index , the nasdaq transportation index , and the nasdaq industrial transportation index ( nqusb2770t ) as a replacement for the nasdaq transportation index .the company is making the modification to reference a specific transportation index and to source that data directly from nasdaq .the graph assumes that the value of the investment in our common stock and in each of the indexes ( including reinvestment of dividends ) was $ 100 on 12/31/2012 and tracks it through 12/31/2017 .total return assumes reinvestment of dividends in each of the indices indicated .comparison of 5-year cumulative total return among expeditors international of washington , inc. , the s&p 500 index , the nasdaq industrial transportation index and the nasdaq transportation index. .
[['', '12/12', '12/13', '12/14', '12/15', '12/16', '12/17'], ['expeditors international of washington inc .', '$ 100.00', '$ 113.52', '$ 116.07', '$ 119.12', '$ 142.10', '$ 176.08'], ["standard and poor's 500 index", '100.00', '132.39', '150.51', '152.59', '170.84', '208.14'], ['nasdaq transportation', '100.00', '133.76', '187.65', '162.30', '193.79', '248.92'], ['nasdaq industrial transportation ( nqusb2770t )', '100.00', '141.60', '171.91', '132.47', '171.17', '218.34']]
the stock price performance included in this graph is not necessarily indicative of future stock price performance .item 6 2014 selected financial data financial highlights in thousands , except per share data 2017 2016 2015 2014 2013 revenues ..................................................................... .$ 6920948 6098037 6616632 6564721 6080257 net revenues1 ............................................................... .$ 2319189 2164036 2187777 1981427 1882853 net earnings attributable to shareholders ..................... .$ 489345 430807 457223 376888 348526 diluted earnings attributable to shareholders per share $ 2.69 2.36 2.40 1.92 1.68 basic earnings attributable to shareholders per share.. .$ 2.73 2.38 2.42 1.92 1.69 dividends declared and paid per common share.......... .$ 0.84 0.80 0.72 0.64 0.60 cash used for dividends ............................................... .$ 150495 145123 135673 124634 123292 cash used for share repurchases ................................. .$ 478258 337658 629991 550781 261936 working capital ............................................................. .$ 1448333 1288648 1115136 1285188 1526673 total assets .................................................................. .$ 3117008 2790871 2565577 2870626 2996416 shareholders 2019 equity ..................................................... .$ 1991858 1844638 1691993 1868408 2084783 weighted average diluted shares outstanding .............. .181666 182704 190223 196768 206895 weighted average basic shares outstanding ................ .179247 181282 188941 196147 205995 _______________________ 1non-gaap measure calculated as revenues less directly related operating expenses attributable to our principal services .see management's discussion and analysis for a reconciliation of net revenues to revenues .safe harbor for forward-looking statements under private securities litigation reform act of 1995 ; certain cautionary statements this annual report on form 10-k for the fiscal year ended december 31 , 2017 contains 201cforward-looking statements , 201d as defined in section 27a of the securities act of 1933 , as amended , and section 21e of the securities exchange act of 1934 , as amended .from time to time , expeditors or its representatives have made or may make forward-looking statements , orally or in writing .such forward-looking statements may be included in , but not limited to , press releases , presentations , oral statements made with the approval of an authorized executive officer or in various filings made by expeditors with the securities and exchange commission .statements including those preceded by , followed by or that include the words or phrases 201cwill likely result 201d , 201care expected to 201d , "would expect" , "would not expect" , 201cwill continue 201d , 201cis anticipated 201d , 201cestimate 201d , 201cproject 201d , "provisional" , "plan" , "believe" , "probable" , "reasonably possible" , "may" , "could" , "should" , "intends" , "foreseeable future" or similar expressions are intended to identify 201cforward-looking statements 201d within the meaning of the private securities litigation reform act of 1995 .such statements are qualified in their entirety by reference to and are accompanied by the discussion in item 1a of certain important factors that could cause actual results to differ materially from such forward-looking statements .the risks included in item 1a are not exhaustive .furthermore , reference is also made to other sections of this report , which include additional factors that could adversely impact expeditors' business and financial performance .moreover , expeditors operates in a very competitive , complex and rapidly changing global environment .new risk factors emerge from time to time and it is not possible for management to predict all of such risk factors , nor can it assess the impact of all of such risk factors on expeditors' business or the extent to which any factor , or combination of factors , may cause actual results to differ materially from those contained in any forward-looking statements .accordingly , forward-looking statements cannot be relied upon as a guarantee of actual results .shareholders should be aware that while expeditors does , from time to time , communicate with securities analysts , it is against expeditors' policy to disclose to such analysts any material non-public information or other confidential commercial information .accordingly , shareholders should not assume that expeditors agrees with any statement or report issued by any analyst irrespective of the content of such statement or report .furthermore , expeditors has a policy against issuing financial forecasts or projections or confirming the accuracy of forecasts or projections issued by others .accordingly , to the extent that reports issued by securities analysts contain any projections , forecasts or opinions , such reports are not the responsibility of expeditors. .
|
what is the difference in percentage return between expeditors international of washington inc . and the nasdaq transportation for the five years ended 12/17?
|
-72.84%
|
{
"answer": "-72.84%",
"decimal": -0.7284,
"type": "percentage"
}
| |
d u k e r e a l t y c o r p o r a t i o n 2 8 2 0 0 2 a n n u a l r e p o r t notes to consolidated financial statements the company recognizes income on long-term construction contracts where the company serves as a general contractor on the percentage of completion method .using this method , profits are recorded on the basis of the company 2019s estimates of the percentage of completion of individual contracts , commencing when progress reaches a point where experience is sufficient to estimate final results with reasonable accuracy .that portion of the estimated earnings is accrued on the basis of the company 2019s estimates of the percentage of completion based on contract expenditures incurred and work performed .property sales gains from sales of depreciated property are recognized in accordance with statement of financial accounting standards ( 201csfas 201d ) no .66 , and are included in earnings from sales of land and depreciable property dispositions , net of impairment adjustment , in the statement of operations if identified as held for sale prior to adoption of sfas 144 and in discontinued operations if identified as held for sale after adoption of sfas 144 .gains or losses from the sale of property which is considered held for sale in dclp are recognized in accordance with sfas 66 and are included in construction management and development activity income in the statement of operations .net income per common share basic net income per common share is computed by dividing net income available for common shares by the weighted average number of common shares outstanding for the period .diluted net income per share is computed by dividing the sum of net income available for common shares and minority interest in earnings of unitholders , by the sum of the weighted average number of common shares and units outstanding and dilutive potential common shares for the period .the following table reconciles the components of basic and diluted net income per share ( in thousands ) : the series d convertible preferred stock and the series g convertible preferred limited partner units were anti-dilutive for the years ended december 31 , 2002 , 2001 and 2000 ; therefore , no conversion to common shares is included in weighted dilutive potential common shares .in september 2002 , the company redeemed the series g convertible preferred units at their par value of $ 35.0 million .a joint venture partner in one of the company 2019s unconsolidated companies has the option to convert a portion of its ownership to company common shares ( see discussion in investments in unconsolidated companies section ) .the effect of the option on earnings per share was dilutive for the year ended december 31 , 2001 ; therefore , conversion to common shares is included in weighted dilutive potential common shares .federal income taxes the company has elected to be taxed as a real estate investment trust ( 201creit 201d ) under the internal revenue code .to qualify as a reit , the company must meet a number of organizational and operational requirements , including a requirement that it currently distribute at least 90% ( 90 % ) of its taxable income to its stockholders .management intends to continue to adhere to these requirements and to maintain the company 2019s reit status .as a reit , the company is entitled to a tax deduction for some or all of the dividends it pays to its shareholders .accordingly , the company generally will not be subject to federal income taxes as long as it distributes an amount equal to or in excess of its taxable income currently to its stockholders .a reit generally is subject to federal income taxes on any taxable income that is not currently distributed to its shareholders .if the company fails to qualify as a reit in any taxable year , it will be subject to federal income taxes and may not be able to qualify as a reit for four subsequent taxable years .reit qualification reduces , but does not eliminate , the amount of state and local taxes paid by the company .in addition , the company 2019s financial statements include the operations of taxable corporate subsidiaries that are not entitled to a dividends paid deduction and are subject to corporate federal , state and local income taxes .as a reit , the company may also be subject to certain federal excise taxes if it engages in certain types of transactions. .
[['', '2002', '2001', '2000'], ['basic net income available for common shares', '$ 161272', '$ 229967', '$ 212958'], ['joint venture partner convertible ownership net income', '2014', '3423', '2014'], ['minority interest in earnings of common unitholders', '18568', '32463', '32071'], ['diluted net income available for common shares and dilutive potential common shares', '$ 179840', '$ 265853', '$ 245029'], ['weighted average number of common shares outstanding', '133981', '129660', '126836'], ['weighted average partnership units outstanding', '15442', '18301', '19070'], ['joint venture partner convertible ownership common share equivalents', '2014', '2092', '2014'], ['dilutive shares for stock-based compensation plans', '1416', '1657', '1535'], ['weighted average number of common shares and dilutive potential common shares', '150839', '151710', '147441']]
.
|
the weighted average number of common shares outstanding comprises what percent of weighted average number of common shares and dilutive potential common shares in the year 2001?
|
85.5%
|
{
"answer": "85.5%",
"decimal": 0.855,
"type": "percentage"
}
| |
financial assurance we must provide financial assurance to governmental agencies and a variety of other entities under applicable environmental regulations relating to our landfill operations for capping , closure and post-closure costs , and related to our performance under certain collection , landfill and transfer station contracts .we satisfy these financial assurance requirements by providing surety bonds , letters of credit , or insurance policies ( financial assurance instruments ) , or trust deposits , which are included in restricted cash and marketable securities and other assets in our consolidated balance sheets .the amount of the financial assurance requirements for capping , closure and post-closure costs is determined by applicable state environmental regulations .the financial assurance requirements for capping , closure and post-closure costs may be associated with a portion of the landfill or the entire landfill .generally , states require a third-party engineering specialist to determine the estimated capping , closure and post-closure costs that are used to determine the required amount of financial assurance for a landfill .the amount of financial assurance required can , and generally will , differ from the obligation determined and recorded under u.s .gaap .the amount of the financial assurance requirements related to contract performance varies by contract .additionally , we must provide financial assurance for our insurance program and collateral for certain performance obligations .we do not expect a material increase in financial assurance requirements during 2016 , although the mix of financial assurance instruments may change .these financial assurance instruments are issued in the normal course of business and are not considered indebtedness .because we currently have no liability for the financial assurance instruments , they are not reflected in our consolidated balance sheets ; however , we record capping , closure and post-closure liabilities and insurance liabilities as they are incurred .off-balance sheet arrangements we have no off-balance sheet debt or similar obligations , other than operating leases and financial assurances , which are not classified as debt .we have no transactions or obligations with related parties that are not disclosed , consolidated into or reflected in our reported financial position or results of operations .we have not guaranteed any third-party debt .free cash flow we define free cash flow , which is not a measure determined in accordance with u.s .gaap , 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 .the following table calculates our free cash flow for the years ended december 31 , 2015 , 2014 and 2013 ( in millions of dollars ) : .
[['', '2015', '2014', '2013'], ['cash provided by operating activities', '$ 1679.7', '$ 1529.8', '$ 1548.2'], ['purchases of property and equipment', '-945.6 ( 945.6 )', '-862.5 ( 862.5 )', '-880.8 ( 880.8 )'], ['proceeds from sales of property and equipment', '21.2', '35.7', '23.9'], ['free cash flow', '$ 755.3', '$ 703.0', '$ 691.3']]
for a discussion of the changes in the components of free cash flow , see our discussion regarding cash flows provided by operating activities and cash flows used in investing activities contained elsewhere in this management 2019s discussion and analysis of financial condition and results of operations. .
|
what was the percentage change in the free cash flow from 2014 to 2015
|
7.4%
|
{
"answer": "7.4%",
"decimal": 0.07400000000000001,
"type": "percentage"
}
|
the free cash flow increased by 7.4% from 2014 to 2015
|
decreased by one percentage point per year , such increases or decreases would have the following effects: .
[['( millions )', 'one-percentage point increase', 'one-percentage point decrease'], ['increase ( decrease ) in the aggregate of service and interest cost components', '$ 10', '$ -8 ( 8 )'], ['increase ( decrease ) in the benefit obligation', '$ 95', '$ -82 ( 82 )']]
increase ( decrease ) in the aggregate of service and interest cost components $ 10 $ ( 8 ) increase ( decrease ) in the benefit obligation $ 95 $ ( 82 ) the company also incurred costs for multi-employer pen- sion plans of $ 2 million in 2003 and $ 1 million for both 2002 and 2001 .multi-employer healthcare costs totaled $ 1 million in each of the years 2003 , 2002 and 2001 .the company has a deferred compensation plan for certain key managers which allows them to defer a portion of their compensation in a phantom ppg stock account or other phantom investment accounts .the amount deferred earns a return based on the investment options selected by the participant .the amount owed to participants is an unfunded and unsecured general obligation of the company .upon retirement , death , disability or termination of employment , the compensation deferred and related accumulated earnings are distributed in cash or in ppg stock , based on the accounts selected by the participant .the plan provides participants with investment alterna- tives and the ability to transfer amounts between the phan- tom non-ppg stock investment accounts .to mitigate the impact on compensation expense of changes in the market value of the liability , the company purchased a portfolio of marketable securities that mirror the phantom non-ppg stock investment accounts selected by the participants except the money market accounts .the changes in market value of these securities are also included in earnings .trading will occur in this portfolio to align the securities held with the participant 2019s phantom non-ppg stock invest- ment accounts except the money market accounts .the cost of the deferred compensation plan , comprised of dividend equivalents accrued on the phantom ppg stock account , investment income and the change in market value of the liability , was a loss in 2003 of $ 13 million , and income of $ 9 million and $ 6 million in 2002 and 2001 , respectively .these amounts are included in 201cselling , gener- al and administrative 201d in the accompanying statement of income .the change in market value of the investment portfolio in 2003 was income of $ 13 million , and a loss of $ 10 million and $ 7 million in 2002 and 2001 , respectively , and is also included in 201cselling , general and administrative . 201d the company 2019s obligations under this plan , which are included in 201cother liabilities 201d in the accompanying balance sheet , were $ 100 million and $ 84 million as of dec .31 , 2003 and 2002 , respectively , and the investments in mar- ketable securities , which are included in 201cinvestments 201d in the accompanying balance sheet , were $ 68 million and $ 53 million as of dec .31 , 2003 and 2002 , respectively .13 .commitments and contingent liabilities ppg is involved in a number of lawsuits and claims , both actual and potential , including some that it has asserted against others , in which substantial monetary damages are sought .these lawsuits and claims , the most significant of which are described below , relate to product liability , con- tract , patent , environmental , antitrust and other matters arising out of the conduct of ppg 2019s business .to the extent that these lawsuits and claims involve personal injury and property damage , ppg believes it has adequate insurance ; however , certain of ppg 2019s insurers are contesting coverage with respect to some of these claims , and other insurers , as they had prior to the asbestos settlement described below , may contest coverage with respect to some of the asbestos claims if the settlement is not implemented .ppg 2019s lawsuits and claims against others include claims against insurers and other third parties with respect to actual and contin- gent losses related to environmental , asbestos and other matters .the result of any future litigation of such lawsuits and claims is inherently unpredictable .however , management believes that , in the aggregate , the outcome of all lawsuits and claims involving ppg , including asbestos-related claims in the event the settlement described below does not become effective , will not have a material effect on ppg 2019s consolidated financial position or liquidity ; however , any such outcome may be material to the results of operations of any particular period in which costs , if any , are recognized .the company has been named as a defendant , along with various other co-defendants , in a number of antitrust lawsuits , including suits in various state and federal courts alleging that ppg acted with competitors to fix prices and allocate markets in the automotive refinish industry and a federal class action suit relating to certain glass products .the federal automotive refinish cases have been consoli- dated in the u.s .district court for the eastern district of pennsylvania located in philadelphia , pa. , but these proceed- ings are at an early stage .the state automotive refinish cases have either been stayed pending resolution of the federal proceedings or have been dismissed .all of the initial defendants in the glass class action antitrust case other than ppg have settled .on may 29 , 2003 , the u.s .district court for the western district of pennsylvania located in pittsburgh , pa .granted ppg 2019s motion for summary judgment dismissing the claims against ppg in the glass class action antitrust case .the plaintiffs in that case have appealed that 2003 annual report and form 10-k 25a0 ppg industries , inc .43 .
|
without the change in market value of the investment portfolio in 2003 , what would the company 2019s obligations be under the deferred comp plan , in millions?
|
113
|
{
"answer": "113",
"decimal": 113,
"type": "float"
}
| |
incentive compensation cost the following table shows components of compensation expense , relating to certain of the incentive compensation programs described above : in a0millions a0of a0dollars 2018 2017 2016 charges for estimated awards to retirement-eligible employees $ 669 $ 659 $ 555 amortization of deferred cash awards , deferred cash stock units and performance stock units 202 354 336 immediately vested stock award expense ( 1 ) 75 70 73 amortization of restricted and deferred stock awards ( 2 ) 435 474 509 .
[['in millions of dollars', '2018', '2017', '2016'], ['charges for estimated awards to retirement-eligible employees', '$ 669', '$ 659', '$ 555'], ['amortization of deferred cash awards deferred cash stock units and performance stock units', '202', '354', '336'], ['immediately vested stock award expense ( 1 )', '75', '70', '73'], ['amortization of restricted and deferred stock awards ( 2 )', '435', '474', '509'], ['other variable incentive compensation', '640', '694', '710'], ['total', '$ 2021', '$ 2251', '$ 2183']]
( 1 ) represents expense for immediately vested stock awards that generally were stock payments in lieu of cash compensation .the expense is generally accrued as cash incentive compensation in the year prior to grant .( 2 ) all periods include amortization expense for all unvested awards to non-retirement-eligible employees. .
|
in 2018 what was the percent of the incentive compensation associated with charges for estimated awards to retirement-eligible employees
|
33.1%
|
{
"answer": "33.1%",
"decimal": 0.331,
"type": "percentage"
}
|
in 2018 the incentive compensation associated with charges for estimated awards to retirement-eligible employees was 33.1%
|
108 / sl green realty corp .2017 annual report espp provides for eligible employees to purchase the common stock at a purchase price equal to 85% ( 85 % ) of the lesser of ( 1 ) a0the market value of the common stock on the first day of the offer- ing period or ( 2 ) a0the market value of the common stock on the last day of the offering period .the espp was approved by our stockholders at our 2008 annual meeting of stockholders .as of december a031 , 2017 , 104597 a0shares of our common stock had been issued under the espp .available for issuance , subject to adjustment upon a merger , reorganization , stock split or other similar corporate change .the company filed a registration statement on form a0s-8 with the sec with respect to the espp .the common stock is offered for purchase through a series of successive offering periods .each offering period will be three months in duration and will begin on the first day of each calendar quarter , with the first a0offering period having commenced on january a01 , 2008 .the 15 .accumulated other comprehensive income the following tables set forth the changes in accumulated other comprehensive income ( loss ) by component as of december a031 , 2017 , 2016 and 2015 ( in thousands ) : sl a0green 2019s share net unrealized of joint venture net unrealized gain on net unrealized gain on derivative gain on derivative marketable instruments ( 1 ) instruments ( 2 ) securities total .
[['', 'net unrealized gain on derivative instruments ( 1 )', 'sl green 2019s share of joint venture net unrealized gain on derivative instruments ( 2 )', 'net unrealized gain on marketable securities', 'total'], ['balance at december 31 2014', '$ -9498 ( 9498 )', '$ -95 ( 95 )', '$ 2613', '$ -6980 ( 6980 )'], ['other comprehensive loss before reclassifications', '-11143 ( 11143 )', '-1714 ( 1714 )', '-610 ( 610 )', '-13467 ( 13467 )'], ['amounts reclassified from accumulated other comprehensive income', '10481', '1217', '2014', '11698'], ['balance at december 31 2015', '-10160 ( 10160 )', '-592 ( 592 )', '2003', '-8749 ( 8749 )'], ['other comprehensive income before reclassifications', '13534', '1160', '3517', '18211'], ['amounts reclassified from accumulated other comprehensive income', '9222', '3453', '2014', '12675'], ['balance at december 31 2016', '12596', '4021', '5520', '22137'], ['other comprehensive ( loss ) income before reclassifications', '-1618 ( 1618 )', '233', '-1348 ( 1348 )', '-2733 ( 2733 )'], ['amounts reclassified from accumulated other comprehensive income', '1564', '766', '-3130 ( 3130 )', '-800 ( 800 )'], ['balance at december 31 2017', '$ 12542', '$ 5020', '$ 1042', '$ 18604']]
( 1 ) amount reclassified from accumulated other comprehensive income ( loss ) is included in interest expense in the respective consolidated statements of operations .as of december a031 , 2017 and 2016 , the deferred net losses from these terminated hedges , which is included in accumulated other comprehensive loss relating to net unrealized loss on derivative instrument , was $ 3.2 a0million and $ 7.1 a0million , respectively .( 2 ) amount reclassified from accumulated other comprehensive income ( loss ) is included in equity in net income from unconsolidated joint ventures in the respective consolidated statements of operations .16 .fair value measurements we are required to disclose fair value information with regard to our financial instruments , whether or not recognized in the consolidated balance sheets , for which it is practical to estimate fair value .the fasb guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date .we measure and/or disclose the estimated fair value of financial assets and liabilities based on a hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity and the reporting entity 2019s own assumptions about market participant assumptions .this hierarchy consists of three broad levels : level a01 2014 quoted prices ( unadjusted ) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date ; level a02 2014 inputs other than quoted prices included within level a01 , that are observable for the asset or liability , either directly or indirectly ; and level a03 2014 unobservable inputs for the asset or liability that are used when little or no market data is available .we follow this hierarchy for our assets and liabilities measured at fair value on a recurring and nonrecurring basis .in instances in which the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy , the level in the fair value hierarchy within which the entire fair value measure- ment falls is based on the lowest level of input that is significant to the fair value measurement in its entirety .our assessment of the significance of the particular input to the fair value mea- surement in its entirety requires judgment and considers factors specific to the asset or liability. .
|
is the aoci balance for marketable securities greater than derivatives as of december 31 2017?
|
no
|
{
"answer": "no",
"decimal": null,
"type": "bool"
}
| |
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 , 2008 at the closing price on the last trading day of 2008 , and also assumes reinvestment of common stock dividends .the s&p financial index is a publicly available measure of 81 of the standard & poor's 500 companies , representing 17 diversified financial services companies , 22 insurance companies , 19 real estate companies and 23 banking companies .the kbw bank index seeks to reflect the performance of banks and thrifts that are publicly traded in the u.s. , and is composed of 24 leading national money center and regional banks and thrifts. .
[['', '2008', '2009', '2010', '2011', '2012', '2013'], ['state street corporation', '$ 100', '$ 111', '$ 118', '$ 105', '$ 125', '$ 198'], ['s&p 500 index', '100', '126', '146', '149', '172', '228'], ['s&p financial index', '100', '117', '132', '109', '141', '191'], ['kbw bank index', '100', '98', '121', '93', '122', '168']]
.
|
what is the roi of an investment in the state street corporation from 2008 to 2011?
|
5%
|
{
"answer": "5%",
"decimal": 0.05,
"type": "percentage"
}
| |
the fair value of the interest agreements at december 31 , 2007 and december 31 , 2006 was $ 3 million and $ 1 million , respectively .the company is exposed to credit loss in the event of nonperformance by the counterparties to its swap contracts .the company minimizes its credit risk on these transactions by only dealing with leading , creditworthy financial institutions and does not anticipate nonperformance .in addition , the contracts are distributed among several financial institutions , all of whom presently have investment grade credit ratings , thus minimizing credit risk concentration .stockholders 2019 equity derivative instruments activity , net of tax , included in non-owner changes to equity within the consolidated statements of stockholders 2019 equity for the years ended december 31 , 2007 and 2006 is as follows: .
[['', '2007', '2006', '2005'], ['balance at january 1', '$ 16', '$ 2', '$ -272 ( 272 )'], ['increase ( decrease ) in fair value', '-6 ( 6 )', '75', '28'], ['reclassifications to earnings', '-10 ( 10 )', '-61 ( 61 )', '246'], ['balance at december 31', '$ 2014', '$ 16', '$ 2']]
net investment in foreign operations hedge at december 31 , 2007 and 2006 , the company did not have any hedges of foreign currency exposure of net investments in foreign operations .investments hedge during the first quarter of 2006 , the company entered into a zero-cost collar derivative ( the 201csprint nextel derivative 201d ) to protect itself economically against price fluctuations in its 37.6 million shares of sprint nextel corporation ( 201csprint nextel 201d ) non-voting common stock .during the second quarter of 2006 , as a result of sprint nextel 2019s spin-off of embarq corporation through a dividend to sprint nextel shareholders , the company received approximately 1.9 million shares of embarq corporation .the floor and ceiling prices of the sprint nextel derivative were adjusted accordingly .the sprint nextel derivative was not designated as a hedge under the provisions of sfas no .133 , 201caccounting for derivative instruments and hedging activities . 201d accordingly , to reflect the change in fair value of the sprint nextel derivative , the company recorded a net gain of $ 99 million for the year ended december 31 , 2006 , included in other income ( expense ) in the company 2019s consolidated statements of operations .in december 2006 , the sprint nextel derivative was terminated and settled in cash and the 37.6 million shares of sprint nextel were converted to common shares and sold .the company received aggregate cash proceeds of approximately $ 820 million from the settlement of the sprint nextel derivative and the subsequent sale of the 37.6 million sprint nextel shares .the company recognized a loss of $ 126 million in connection with the sale of the remaining shares of sprint nextel common stock .as described above , the company recorded a net gain of $ 99 million in connection with the sprint nextel derivative .prior to the merger of sprint corporation ( 201csprint 201d ) and nextel communications , inc .( 201cnextel 201d ) , the company had entered into variable share forward purchase agreements ( the 201cvariable forwards 201d ) to hedge its nextel common stock .the company did not designate the variable forwards as a hedge of the sprint nextel shares received as a result of the merger .accordingly , the company recorded $ 51 million of gains for the year ended december 31 , 2005 reflecting the change in value of the variable forwards .the variable forwards were settled during the fourth quarter of 2005 .fair value of financial instruments the company 2019s financial instruments include cash equivalents , sigma fund investments , short-term investments , accounts receivable , long-term finance receivables , accounts payable , accrued liabilities , derivatives and other financing commitments .the company 2019s sigma fund and investment portfolios and derivatives are recorded in the company 2019s consolidated balance sheets at fair value .all other financial instruments , with the exception of long-term debt , are carried at cost , which is not materially different than the instruments 2019 fair values. .
|
what is the percent change in stockholders 2019 equity derivative between january and december 2006?
|
700%
|
{
"answer": "700%",
"decimal": 7,
"type": "percentage"
}
| |
interest expense , net was $ 26.4 million , $ 14.6 million , and $ 5.3 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .interest expense includes the amortization of deferred financing costs , bank fees , capital and built-to-suit lease interest and interest expense under the credit and other long term debt facilities .amortization of deferred financing costs was $ 1.2 million , $ 0.8 million , and $ 0.6 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .the company monitors the financial health and stability of its lenders under the credit and other long term debt facilities , however during any period of significant instability in the credit markets lenders could be negatively impacted in their ability to perform under these facilities .6 .commitments and contingencies obligations under operating leases the company leases warehouse space , office facilities , space for its brand and factory house stores and certain equipment under non-cancelable operating leases .the leases expire at various dates through 2033 , excluding extensions at the company 2019s option , and include provisions for rental adjustments .the table below includes executed lease agreements for brand and factory house stores that the company did not yet occupy as of december 31 , 2016 and does not include contingent rent the company may incur at its stores based on future sales above a specified minimum or payments made for maintenance , insurance and real estate taxes .the following is a schedule of future minimum lease payments for non-cancelable real property operating leases as of december 31 , 2016 as well as significant operating lease agreements entered into during the period after december 31 , 2016 through the date of this report : ( in thousands ) .
[['2017', '$ 114857'], ['2018', '127504'], ['2019', '136040'], ['2020', '133092'], ['2021', '122753'], ['2022 and thereafter', '788180'], ['total future minimum lease payments', '$ 1422426']]
included in selling , general and administrative expense was rent expense of $ 109.0 million , $ 83.0 million and $ 59.0 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively , under non-cancelable operating lease agreements .included in these amounts was contingent rent expense of $ 13.0 million , $ 11.0 million and $ 11.0 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .sports marketing and other commitments within the normal course of business , the company enters into contractual commitments in order to promote the company 2019s brand and products .these commitments include sponsorship agreements with teams and athletes on the collegiate and professional levels , official supplier agreements , athletic event sponsorships and other marketing commitments .the following is a schedule of the company 2019s future minimum payments under its sponsorship and other marketing agreements as of december 31 .
|
what percentage change in rent expense from 2015 to 2016?
|
31.3%
|
{
"answer": "31.3%",
"decimal": 0.313,
"type": "percentage"
}
| |
management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) operating income increased during 2017 when compared to 2016 , comprised of a decrease in revenue of $ 42.1 , as discussed above , a decrease in salaries and related expenses of $ 28.0 and a decrease in office and general expenses of $ 16.9 .the decrease in salaries and related expenses was primarily due to lower discretionary bonuses and incentive expense as well as a decrease in base salaries , benefits and tax .the decrease in office and general expenses was primarily due to decreases in adjustments to contingent acquisition obligations , as compared to the prior year .operating income increased during 2016 when compared to 2015 due to an increase in revenue of $ 58.8 , as discussed above , and a decrease in office and general expenses of $ 3.7 , partially offset by an increase in salaries and related expenses of $ 38.8 .the increase in salaries and related expenses was attributable to an increase in base salaries , benefits and tax primarily due to increases in our workforce to support business growth over the last twelve months .the decrease in office and general expenses was primarily due to lower production expenses related to pass-through costs , which are also reflected in revenue , for certain projects in which we acted as principal that decreased in size or did not recur during the current year .corporate and other certain corporate and other charges are reported as a separate line item within total segment operating income and include corporate office expenses , as well as shared service center and certain other centrally managed expenses that are not fully allocated to operating divisions .salaries and related expenses include salaries , long-term incentives , annual bonuses and other miscellaneous benefits for corporate office employees .office and general expenses primarily include professional fees related to internal control compliance , financial statement audits and legal , information technology and other consulting services that are engaged and managed through the corporate office .office and general expenses also include rental expense and depreciation of leasehold improvements for properties occupied by corporate office employees .a portion of centrally managed expenses are allocated to operating divisions based on a formula that uses the planned revenues of each of the operating units .amounts allocated also include specific charges for information technology-related projects , which are allocated based on utilization .corporate and other expenses decreased during 2017 by $ 20.6 to $ 126.6 compared to 2016 , primarily due to lower annual incentive expense .corporate and other expenses increased during 2016 by $ 5.4 to $ 147.2 compared to 2015 .liquidity and capital resources cash flow overview the following tables summarize key financial data relating to our liquidity , capital resources and uses of capital. .
[['cash flow data', 'years ended december 31 , 2017', 'years ended december 31 , 2016', 'years ended december 31 , 2015'], ['net income adjusted to reconcile to net cash provided by operating activities1', '$ 887.3', '$ 1023.2', '$ 848.8'], ['net cash used in working capital2', '-29.9 ( 29.9 )', '-414.9 ( 414.9 )', '-99.9 ( 99.9 )'], ['changes in other non-current assets and liabilities', '24.4', '-95.5 ( 95.5 )', '-60.4 ( 60.4 )'], ['net cash provided by operating activities', '$ 881.8', '$ 512.8', '$ 688.5'], ['net cash used in investing activities', '-196.2 ( 196.2 )', '-263.9 ( 263.9 )', '-199.7 ( 199.7 )'], ['net cash used in financing activities', '-1004.9 ( 1004.9 )', '-666.4 ( 666.4 )', '-490.9 ( 490.9 )']]
1 reflects net income adjusted primarily for depreciation and amortization of fixed assets and intangible assets , amortization of restricted stock and other non-cash compensation , net losses on sales of businesses and deferred income taxes .2 reflects changes in accounts receivable , expenditures billable to clients , other current assets , accounts payable and accrued liabilities .operating activities due to the seasonality of our business , we typically use cash from working capital in the first nine months of a year , with the largest impact in the first quarter , and generate cash from working capital in the fourth quarter , driven by the seasonally strong media spending by our clients .quarterly and annual working capital results are impacted by the fluctuating annual media spending budgets of our clients as well as their changing media spending patterns throughout each year across various countries. .
|
what is the net change in cash for 2016?
|
-417.5
|
{
"answer": "-417.5",
"decimal": -417.5,
"type": "float"
}
| |
leveraged performance units during fiscal 2015 , certain executives were granted performance units that we refer to as leveraged performance units , or lpus .lpus contain a market condition based on our relative stock price growth over a three-year performance period .the lpus contain a minimum threshold performance which , if not met , would result in no payout .the lpus also contain a maximum award opportunity set as a fixed dollar and fixed number of shares .after the three-year performance period , one-third of any earned units converts to unrestricted common stock .the remaining two-thirds convert to restricted stock that will vest in equal installments on each of the first two anniversaries of the conversion date .we recognize share-based compensation expense based on the grant date fair value of the lpus , as determined by use of a monte carlo model , on a straight-line basis over the requisite service period for each separately vesting portion of the lpu award .total shareholder return units before fiscal 2015 , certain of our executives were granted total shareholder return ( 201ctsr 201d ) units , which are performance-based restricted stock units that are earned based on our total shareholder return over a three-year performance period compared to companies in the s&p 500 .once the performance results are certified , tsr units convert into unrestricted common stock .depending on our performance , the grantee may earn up to 200% ( 200 % ) of the target number of shares .the target number of tsr units for each executive is set by the compensation committee .we recognize share-based compensation expense based on the grant date fair value of the tsr units , as determined by use of a monte carlo model , on a straight-line basis over the vesting period .the following table summarizes the changes in unvested share-based awards for the years ended may 31 , 2016 and 2015 ( shares in thousands ) : shares weighted-average grant-date fair value .
[['', 'shares', 'weighted-averagegrant-datefair value'], ['unvested at may 31 2014', '1754', '$ 22.72'], ['granted', '954', '36.21'], ['vested', '-648 ( 648 )', '23.17'], ['forfeited', '-212 ( 212 )', '27.03'], ['unvested at may 31 2015', '1848', '28.97'], ['granted', '461', '57.04'], ['vested', '-633 ( 633 )', '27.55'], ['forfeited', '-70 ( 70 )', '34.69'], ['unvested at may 31 2016', '1606', '$ 37.25']]
including the restricted stock , performance units and tsr units described above , the total fair value of share- based awards vested during the years ended may 31 , 2016 , 2015 and 2014 was $ 17.4 million , $ 15.0 million and $ 28.7 million , respectively .for these share-based awards , we recognized compensation expense of $ 28.8 million , $ 19.8 million and $ 28.2 million in the years ended may 31 , 2016 , 2015 and 2014 , respectively .as of may 31 , 2016 , there was $ 42.6 million of unrecognized compensation expense related to unvested share-based awards that we expect to recognize over a weighted-average period of 1.9 years .our share-based award plans provide for accelerated vesting under certain conditions .employee stock purchase plan we have an employee stock purchase plan under which the sale of 4.8 million shares of our common stock has been authorized .employees may designate up to the lesser of $ 25000 or 20% ( 20 % ) of their annual compensation for the purchase of our common stock .the price for shares purchased under the plan is 85% ( 85 % ) of the market value on 84 2013 global payments inc .| 2016 form 10-k annual report .
|
what is the total fair value balance of unvested shares as of may 2016?
|
59823.5
|
{
"answer": "59823.5",
"decimal": 59823.5,
"type": "float"
}
| |
the containerboard group ( a division of tenneco packaging inc. ) notes to combined financial statements ( continued ) april 11 , 1999 14 .leases ( continued ) to the sale transaction on april 12 , 1999 .therefore , the remaining outstanding aggregate minimum rental commitments under noncancelable operating leases are as follows : ( in thousands ) .
[['remainder of 1999', '$ 7606'], ['2000', '7583'], ['2001', '4891'], ['2002', '3054'], ['2003', '1415'], ['thereafter', '1178'], ['total', '$ 25727']]
15 .sale of assets in the second quarter of 1996 , packaging entered into an agreement to form a joint venture with caraustar industries whereby packaging sold its two recycled paperboard mills and a fiber recycling operation and brokerage business to the joint venture in return for cash and a 20% ( 20 % ) equity interest in the joint venture .proceeds from the sale were approximately $ 115 million and the group recognized a $ 50 million pretax gain ( $ 30 million after taxes ) in the second quarter of 1996 .in june , 1998 , packaging sold its remaining 20% ( 20 % ) equity interest in the joint venture to caraustar industries for cash and a note of $ 26000000 .the group recognized a $ 15 million pretax gain on this transaction .at april 11 , 1999 , the balance of the note with accrued interest is $ 27122000 .the note was paid in june , 1999 .16 .subsequent events on august 25 , 1999 , pca and packaging agreed that the acquisition consideration should be reduced as a result of a postclosing price adjustment by an amount equal to $ 20 million plus interest through the date of payment by packaging .the group recorded $ 11.9 million of this amount as part of the impairment charge on the accompanying financial statements , representing the amount that was previously estimated by packaging .pca intends to record the remaining amount in september , 1999 .in august , 1999 , pca signed purchase and sales agreements with various buyers to sell approximately 405000 acres of timberland .pca has completed the sale of approximately 260000 of these acres and expects to complete the sale of the remaining acres by mid-november , 1999. .
|
what percentage of outstanding aggregate minimum rental commitments under noncancelable operating leases are due after 2003?
|
5%
|
{
"answer": "5%",
"decimal": 0.05,
"type": "percentage"
}
| |
performance graph this graph compares the return on lilly stock with that of the standard & poor 2019s 500 stock index and our peer group for the years 2014 through 2018 .the graph assumes that , on december 31 , 2013 , a person invested $ 100 each in lilly stock , the s&p 500 stock index , and the peer groups' common stock .the graph measures total shareholder return , which takes into account both stock price and dividends .it assumes that dividends paid by a company are reinvested in that company 2019s stock .value of $ 100 invested on last business day of 2013 comparison of five-year cumulative total return among lilly , s&p 500 stock index , peer group ( 1 ) .
[['', 'lilly', 'peer group', 's&p 500'], ['dec-13', '$ 100.00', '$ 100.00', '$ 100.00'], ['dec-14', '$ 139.75', '$ 114.39', '$ 113.69'], ['dec-15', '$ 175.21', '$ 116.56', '$ 115.26'], ['dec-16', '$ 157.03', '$ 112.80', '$ 129.05'], ['dec-17', '$ 185.04', '$ 128.90', '$ 157.22'], ['dec-18', '$ 259.88', '$ 136.56', '$ 150.33']]
( 1 ) we constructed the peer group as the industry index for this graph .it comprises the companies in the pharmaceutical and biotech industries that we used to benchmark the compensation of our executive officers for 2018 : abbvie inc. ; amgen inc. ; astrazeneca plc ; baxter international inc. ; biogen idec inc. ; bristol-myers squibb company ; celgene corporation ; gilead sciences inc. ; glaxosmithkline plc ; johnson & johnson ; medtronic plc ; merck & co. , inc. ; novartis ag. ; pfizer inc. ; roche holdings ag ; sanofi ; and shire plc. .
|
as of december 312017 what was the ratio of the value of the lilly to the peer group
|
1.44
|
{
"answer": "1.44",
"decimal": 1.44,
"type": "float"
}
|
as of december 312017 the cumulative return of lilly was 1.44 times that of the peer group
|
backlog backlog increased in 2015 compared to 2014 primarily due to higher orders on f-35 and c-130 programs .backlog decreased slightly in 2014 compared to 2013 primarily due to lower orders on f-16 and f-22 programs .trends we expect aeronautics 2019 2016 net sales to increase in the mid-single digit percentage range as compared to 2015 due to increased volume on the f-35 and c-130 programs , partially offset by decreased volume on the f-16 program .operating profit is also expected to increase in the low single-digit percentage range , driven by increased volume on the f-35 program offset by contract mix that results in a slight decrease in operating margins between years .information systems & global solutions our is&gs business segment provides advanced technology systems and expertise , integrated information technology solutions and management services across a broad spectrum of applications for civil , defense , intelligence and other government customers .is&gs 2019 technical services business provides a comprehensive portfolio of technical and sustainment services .is&gs has a portfolio of many smaller contracts as compared to our other business segments .is&gs has been impacted by the continued downturn in certain federal agencies 2019 information technology budgets and increased re-competition on existing contracts coupled with the fragmentation of large contracts into multiple smaller contracts that are awarded primarily on the basis of price .is&gs 2019 operating results included the following ( in millions ) : .
[['', '2015', '2014', '2013'], ['net sales', '$ 5596', '$ 5654', '$ 6115'], ['operating profit', '508', '472', '498'], ['operating margins', '9.1% ( 9.1 % )', '8.3% ( 8.3 % )', '8.1% ( 8.1 % )'], ['backlog at year-end', '$ 4800', '$ 6000', '$ 6300']]
2015 compared to 2014 is&gs 2019 net sales decreased $ 58 million , or 1% ( 1 % ) , in 2015 as compared to 2014 .the decrease was attributable to lower net sales of approximately $ 395 million as a result of key program completions , lower customer funding levels and increased competition , coupled with the fragmentation of existing large contracts into multiple smaller contracts that are awarded primarily on the basis of price when re-competed ( including cms-citic ) .these decreases were partially offset by higher net sales of approximately $ 230 million for businesses acquired in 2014 ; and approximately $ 110 million due to the start-up of new programs and growth in recently awarded programs .is&gs 2019 operating profit increased $ 36 million , or 8% ( 8 % ) , in 2015 as compared to 2014 .the increase was attributable to improved program performance and risk retirements , offset by decreased operating profit resulting from the activities mentioned above for net sales .adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 70 million higher in 2015 compared to 2014 .2014 compared to 2013 is&gs 2019 net sales decreased $ 461 million , or 8% ( 8 % ) , in 2014 as compared to 2013 .the decrease was primarily attributable to lower net sales of about $ 475 million due to the wind-down or completion of certain programs , driven by reductions in direct warfighter support ( including jieddo ) ; and approximately $ 320 million due to decreased volume in technical services programs reflecting market pressures .the decreases were offset by higher net sales of about $ 330 million due to the start-up of new programs , growth in recently awarded programs and integration of recently acquired companies .is&gs 2019 operating profit decreased $ 26 million , or 5% ( 5 % ) , in 2014 as compared to 2013 .the decrease was primarily attributable to the activities mentioned above for sales , partially offset by severance recoveries related to the restructuring announced in november 2013 of approximately $ 20 million in 2014 .adjustments not related to volume , including net profit booking rate adjustments , were comparable in 2014 and 2013. .
|
what was the average backlog at year-end from 2013 to 2015?
|
5700
|
{
"answer": "5700",
"decimal": 5700,
"type": "float"
}
| |
other income increased in 2011 versus 2010 due to higher gains from real estate sales , lower environmental costs associated with non-operating properties and the comparative impact of premiums paid for early redemption of long-term debt in the first quarter of 2010 .interest expense 2013 interest expense decreased in 2012 versus 2011 reflecting a lower effective interest rate in 2012 of 6.0% ( 6.0 % ) versus 6.2% ( 6.2 % ) in 2011 as the debt level did not materially change in 2012 .interest expense decreased in 2011 versus 2010 due to a lower weighted-average debt level of $ 9.2 billion versus $ 9.7 billion .the effective interest rate was 6.2% ( 6.2 % ) in both 2011 and 2010 .income taxes 2013 higher pre-tax income increased income taxes in 2012 compared to 2011 .our effective tax rate for 2012 was relatively flat at 37.6% ( 37.6 % ) compared to 37.5% ( 37.5 % ) in 2011 .income taxes were higher in 2011 compared to 2010 , primarily driven by higher pre-tax income .our effective tax rate remained relatively flat at 37.5% ( 37.5 % ) in 2011 compared to 37.3% ( 37.3 % ) in 2010 .other operating/performance and financial statistics we report key performance measures weekly to the association of american railroads ( aar ) , including carloads , average daily inventory of freight cars on our system , average train speed , and average terminal dwell time .we provide this data on our website at www.up.com/investors/reports/index.shtml .operating/performance statistics railroad performance measures reported to the aar , as well as other performance measures , are included in the table below : 2012 2011 2010 % ( % ) change 2012 v 2011 % ( % ) change 2011 v 2010 .
[['', '2012', '2011', '2010', '% ( % ) change 2012 v 2011', '% ( % ) change 2011 v 2010'], ['average train speed ( miles per hour )', '26.5', '25.6', '26.2', '4 % ( % )', '( 2 ) % ( % )'], ['average terminal dwell time ( hours )', '26.2', '26.2', '25.4', '- % ( % )', '3 % ( % )'], ['average rail car inventory ( thousands )', '269.1', '272.9', '274.4', '( 1 ) % ( % )', '( 1 ) % ( % )'], ['gross ton-miles ( billions )', '959.3', '978.2', '931.4', '( 2 ) % ( % )', '5 % ( % )'], ['revenue ton-miles ( billions )', '521.1', '544.4', '520.4', '( 4 ) % ( % )', '5 % ( % )'], ['operating ratio', '67.8', '70.7', '70.6', '( 2.9 ) pts', '0.1 pts'], ['employees ( average )', '45928', '44861', '42884', '2 % ( % )', '5 % ( % )'], ['customer satisfaction index', '93', '92', '89', '1 pt', '3 pts']]
average train speed 2013 average train speed is calculated by dividing train miles by hours operated on our main lines between terminals .average train speed , as reported to the association of american railroads ( aar ) , increased 4% ( 4 % ) in 2012 versus 2011 .efficient operations and relatively mild weather conditions during the year compared favorably to 2011 , during which severe winter weather , flooding , and extreme heat and drought affected various parts of our network .we continued operating a fluid and efficient network while handling essentially the same volume and adjusting operations to accommodate increased capital project work on our network compared to 2011 .the extreme weather challenges in addition to increased carloadings and traffic mix changes , led to a 2% ( 2 % ) decrease in average train speed in 2011 compared to 2010 .average terminal dwell time 2013 average terminal dwell time is the average time that a rail car spends at our terminals .lower average terminal dwell time improves asset utilization and service .average terminal dwell time remained flat in 2012 compared to 2011 , despite a shift in traffic mix to more manifest shipments , which require more switching at terminals .average terminal dwell time increased 3% ( 3 % ) in 2011 compared to 2010 .additional volume , weather challenges , track replacement programs , and a shift of traffic mix to more manifest shipments , which require additional terminal processing , all contributed to the increase .average rail car inventory 2013 average rail car inventory is the daily average number of rail cars on our lines , including rail cars in storage .lower average rail car inventory reduces congestion in our yards and sidings , which increases train speed , reduces average terminal dwell time , and improves rail car utilization .despite a shift in traffic mix from coal to shale-related and automotive shipments with longer .
|
what is the 2011 total interest expense in billions based on the weighted-average debt level and effective interest rate?
|
.570
|
{
"answer": ".570",
"decimal": 0.57,
"type": "float"
}
| |
to determine stock-based compensation expense , the grant- date fair value is applied to the options granted with a reduction for estimated forfeitures .we recognize compensation expense for stock options on a straight-line basis over the pro rata vesting period .at december 31 , 2011 and 2010 , options for 12337000 and 13397000 shares of common stock were exercisable at a weighted-average price of $ 106.08 and $ 118.21 , respectively .the total intrinsic value of options exercised during 2012 , 2011 and 2010 was $ 37 million , $ 4 million and $ 5 million .cash received from option exercises under all incentive plans for 2012 , 2011 and 2010 was approximately $ 118 million , $ 41 million and $ 15 million , respectively .the actual tax benefit realized for tax deduction purposes from option exercises under all incentive plans for 2012 , 2011 and 2010 was approximately $ 41 million , $ 14 million and $ 5 million , respectively .there were no options granted in excess of market value in 2012 , 2011 or 2010 .shares of common stock available during the next year for the granting of options and other awards under the incentive plans were 29192854 at december 31 , 2012 .total shares of pnc common stock authorized for future issuance under equity compensation plans totaled 30537674 shares at december 31 , 2012 , which includes shares available for issuance under the incentive plans and the employee stock purchase plan ( espp ) as described below .during 2012 , we issued approximately 1.7 million shares from treasury stock in connection with stock option exercise activity .as with past exercise activity , we currently intend to utilize primarily treasury stock for any future stock option exercises .awards granted to non-employee directors in 2012 , 2011 and 2010 include 25620 , 27090 and 29040 deferred stock units , respectively , awarded under the outside directors deferred stock unit plan .a deferred stock unit is a phantom share of our common stock , which requires liability accounting treatment until such awards are paid to the participants as cash .as there are no vesting or service requirements on these awards , total compensation expense is recognized in full on awarded deferred stock units on the date of grant .incentive/performance unit share awards and restricted stock/unit awards the fair value of nonvested incentive/performance unit share awards and restricted stock/unit awards is initially determined based on prices not less than the market value of our common stock price on the date of grant .the value of certain incentive/ performance unit share awards is subsequently remeasured based on the achievement of one or more financial and other performance goals generally over a three-year period .the personnel and compensation committee of the board of directors approves the final award payout with respect to incentive/performance unit share awards .restricted stock/unit awards have various vesting periods generally ranging from 36 months to 60 months .beginning in 2012 , we incorporated several risk-related performance changes to certain incentive compensation programs .in addition to achieving certain financial performance metrics relative to our peers , the final payout amount will be subject to a negative adjustment if pnc fails to meet certain risk-related performance metrics as specified in the award agreement .however , the p&cc has the discretion to reduce any or all of this negative adjustment under certain circumstances .these awards have a three-year performance period and are payable in either stock or a combination of stock and cash .additionally , performance-based restricted share units were granted in 2012 to certain of our executives in lieu of stock options , with generally the same terms and conditions as the 2011 awards of the same .the weighted-average grant-date fair value of incentive/ performance unit share awards and restricted stock/unit awards granted in 2012 , 2011 and 2010 was $ 60.68 , $ 63.25 and $ 54.59 per share , respectively .we recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program .table 130 : nonvested incentive/performance unit share awards and restricted stock/unit awards 2013 rollforward shares in thousands nonvested incentive/ performance unit shares weighted- average date fair nonvested restricted stock/ shares weighted- average date fair .
[['shares in thousands december 31 2011', 'nonvested incentive/ performance unit shares 830', 'weighted-averagegrantdate fairvalue $ 61.68', 'nonvested restricted stock/ unit shares 2512', 'weighted-averagegrantdate fairvalue $ 54.87'], ['granted', '465', '60.70', '1534', '60.67'], ['vested', '-100 ( 100 )', '64.21', '-831 ( 831 )', '45.47'], ['forfeited', '-76 ( 76 )', '60.27', '-154 ( 154 )', '60.51'], ['december 31 2012', '1119', '$ 61.14', '3061', '$ 60.04']]
in the chart above , the unit shares and related weighted- average grant-date fair value of the incentive/performance awards exclude the effect of dividends on the underlying shares , as those dividends will be paid in cash .at december 31 , 2012 , there was $ 86 million of unrecognized deferred compensation expense related to nonvested share- based compensation arrangements granted under the incentive plans .this cost is expected to be recognized as expense over a period of no longer than five years .the total fair value of incentive/performance unit share and restricted stock/unit awards vested during 2012 , 2011 and 2010 was approximately $ 55 million , $ 52 million and $ 39 million , respectively .the pnc financial services group , inc .2013 form 10-k 203 .
|
what was the total weighted-average grant-date fair value of incentive/ performance unit share awards and restricted stock/unit awards granted in 2011 and 2010?
|
117.84
|
{
"answer": "117.84",
"decimal": 117.84,
"type": "float"
}
| |
entergy arkansas , inc .and subsidiaries management 2019s financial discussion and analysis results of operations net income 2016 compared to 2015 net income increased $ 92.9 million primarily due to higher net revenue and lower other operation and maintenance expenses , partially offset by a higher effective income tax rate and higher depreciation and amortization expenses .2015 compared to 2014 net income decreased $ 47.1 million primarily due to higher other operation and maintenance expenses , partially offset by higher net revenue .net revenue 2016 compared to 2015 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 2016 to 2015 .amount ( in millions ) .
[['', 'amount ( in millions )'], ['2015 net revenue', '$ 1362.2'], ['retail electric price', '161.5'], ['other', '-3.2 ( 3.2 )'], ['2016 net revenue', '$ 1520.5']]
the retail electric price variance is primarily due to an increase in base rates , as approved by the apsc .the new base rates were effective february 24 , 2016 and began billing with the first billing cycle of april 2016 .the increase includes an interim base rate adjustment surcharge , effective with the first billing cycle of april 2016 , to recover the incremental revenue requirement for the period february 24 , 2016 through march 31 , 2016 .a significant portion of the increase is related to the purchase of power block 2 of the union power station .see note 2 to the financial statements for further discussion of the rate case .see note 14 to the financial statements for further discussion of the union power station purchase. .
|
what would 2016 net revenue have been if it was impacted by the same higher other operation and maintenance expenses that impacted the prior year ( in millions ) ?
|
1473.4
|
{
"answer": "1473.4",
"decimal": 1473.4,
"type": "float"
}
| |
the goldman sachs group , inc .and subsidiaries management 2019s discussion and analysis 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 2015', 'year ended december 2014', 'year ended december 2013'], ['fixed income currency and commodities client execution', '$ 7322', '$ 8461', '$ 8651'], ['equities client execution1', '3028', '2079', '2594'], ['commissions and fees', '3156', '3153', '3103'], ['securities services', '1645', '1504', '1373'], ['total equities', '7829', '6736', '7070'], ['total net revenues', '15151', '15197', '15721'], ['operating expenses', '13938', '10880', '11792'], ['pre-tax earnings', '$ 1213', '$ 4317', '$ 3929']]
1 .net revenues related to the americas reinsurance business were $ 317 million for 2013 .in april 2013 , we completed the sale of a majority stake in our americas reinsurance business and no longer consolidate this business .2015 versus 2014 .net revenues in institutional client services were $ 15.15 billion for 2015 , essentially unchanged compared with 2014 .net revenues in fixed income , currency and commodities client execution were $ 7.32 billion for 2015 , 13% ( 13 % ) lower than 2014 .excluding a gain of $ 168 million in 2014 related to the extinguishment of certain of our junior subordinated debt , net revenues in fixed income , currency and commodities client execution were 12% ( 12 % ) lower than 2014 , reflecting significantly lower net revenues in mortgages , credit products and commodities .the decreases in mortgages and credit products reflected challenging market-making conditions and generally low levels of activity during 2015 .the decline in commodities primarily reflected less favorable market-making conditions compared with 2014 , which included a strong first quarter of 2014 .these decreases were partially offset by significantly higher net revenues in interest rate products and currencies , reflecting higher volatility levels which contributed to higher client activity levels , particularly during the first quarter of 2015 .net revenues in equities were $ 7.83 billion for 2015 , 16% ( 16 % ) higher than 2014 .excluding a gain of $ 121 million ( $ 30 million and $ 91 million included in equities client execution and securities services , respectively ) in 2014 related to the extinguishment of certain of our junior subordinated debt , net revenues in equities were 18% ( 18 % ) higher than 2014 , primarily due to significantly higher net revenues in equities client execution across the major regions , reflecting significantly higher results in both derivatives and cash products , and higher net revenues in securities services , reflecting the impact of higher average customer balances and improved securities lending spreads .commissions and fees were essentially unchanged compared with 2014 .the firm elects the fair value option for certain unsecured borrowings .the fair value net gain attributable to the impact of changes in our credit spreads on these borrowings was $ 255 million ( $ 214 million and $ 41 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2015 , compared with a net gain of $ 144 million ( $ 108 million and $ 36 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2014 .during 2015 , the operating environment for institutional client services was positively impacted by diverging central bank monetary policies in the united states and the euro area in the first quarter , as increased volatility levels contributed to strong client activity levels in currencies , interest rate products and equity products , and market- making conditions improved .however , during the remainder of the year , concerns about global growth and uncertainty about the u.s .federal reserve 2019s interest rate policy , along with lower global equity prices , widening high-yield credit spreads and declining commodity prices , contributed to lower levels of client activity , particularly in mortgages and credit , and more difficult market-making conditions .if macroeconomic concerns continue over the long term and activity levels decline , net revenues in institutional client services would likely be negatively impacted .operating expenses were $ 13.94 billion for 2015 , 28% ( 28 % ) higher than 2014 , due to significantly higher net provisions for mortgage-related litigation and regulatory matters , partially offset by decreased compensation and benefits expenses .pre-tax earnings were $ 1.21 billion in 2015 , 72% ( 72 % ) lower than 2014 .62 goldman sachs 2015 form 10-k .
|
in millions for 2015 , 2014 and 2013 , what was total commissions and fees?
|
9412
|
{
"answer": "9412",
"decimal": 9412,
"type": "float"
}
| |
item 7a .quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items .from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks .derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes .interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations .the majority of our debt ( approximately 94% ( 94 % ) and 93% ( 93 % ) as of december 31 , 2017 and 2016 , respectively ) bears interest at fixed rates .we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows .the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below .increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .
[['as of december 31,', 'increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates', 'increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates'], ['2017', '$ -20.2 ( 20.2 )', '$ 20.6'], ['2016', '-26.3 ( 26.3 )', '26.9']]
we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates .we did not have any interest rate swaps outstanding as of december 31 , 2017 .we had $ 791.0 of cash , cash equivalents and marketable securities as of december 31 , 2017 that we generally invest in conservative , short-term bank deposits or securities .the interest income generated from these investments is subject to both domestic and foreign interest rate movements .during 2017 and 2016 , we had interest income of $ 19.4 and $ 20.1 , respectively .based on our 2017 results , a 100 basis-point increase or decrease in interest rates would affect our interest income by approximately $ 7.9 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2017 levels .foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates .since we report revenues and expenses in u.s .dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s .dollars ) from foreign operations .the foreign currencies that most impacted our results during 2017 included the british pound sterling and , to a lesser extent , brazilian real and south african rand .based on 2017 exchange rates and operating results , if the u.s .dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2017 levels .the functional currency of our foreign operations is generally their respective local currency .assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented .the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets .our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk .however , certain subsidiaries may enter into transactions in currencies other than their functional currency .assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement .currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses .we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures .we do not enter into foreign exchange contracts or other derivatives for speculative purposes. .
|
what was the average interest income from 2016 and 2017 , in millions?
|
19.75
|
{
"answer": "19.75",
"decimal": 19.75,
"type": "float"
}
| |
liquidity the primary source of our liquidity is cash flow from operations .over the most recent two-year period , our operations have generated $ 5.6 billion in cash .a substantial portion of this operating cash flow has been returned to shareholders through share repurchases and dividends .we also use cash from operations to fund our capital expenditures and acquisitions .we typically use a combination of cash , notes payable , and long-term debt , and occasionally issue shares of stock , to finance significant acquisitions .as of may 26 , 2019 , we had $ 399 million of cash and cash equivalents held in foreign jurisdictions .as a result of the tcja , the historic undistributed earnings of our foreign subsidiaries were taxed in the u.s .via the one-time repatriation tax in fiscal 2018 .we have re-evaluated our assertion and have concluded that although earnings prior to fiscal 2018 will remain permanently reinvested , we will no longer make a permanent reinvestment assertion beginning with our fiscal 2018 earnings .as part of the accounting for the tcja , we recorded local country withholding taxes related to certain entities from which we began repatriating undistributed earnings and will continue to record local country withholding taxes on all future earnings .as a result of the transition tax , we may repatriate our cash and cash equivalents held by our foreign subsidiaries without such funds being subject to further u.s .income tax liability ( please see note 14 to the consolidated financial statements in item 8 of this report for additional information ) .cash flows from operations .
[['in millions', 'fiscal year 2019', 'fiscal year 2018'], ['net earnings including earnings attributable to redeemable and noncontrollinginterests', '$ 1786.2', '$ 2163.0'], ['depreciation and amortization', '620.1', '618.8'], ['after-taxearnings from joint ventures', '-72.0 ( 72.0 )', '-84.7 ( 84.7 )'], ['distributions of earnings from joint ventures', '86.7', '113.2'], ['stock-based compensation', '84.9', '77.0'], ['deferred income taxes', '93.5', '-504.3 ( 504.3 )'], ['pension and other postretirement benefit plan contributions', '-28.8 ( 28.8 )', '-31.8 ( 31.8 )'], ['pension and other postretirement benefit plan costs', '6.1', '4.6'], ['divestitures loss', '30.0', '-'], ['restructuring impairment and other exit costs', '235.7', '126.0'], ['changes in current assets and liabilities excluding the effects of acquisitions anddivestitures', '-7.5 ( 7.5 )', '542.1'], ['other net', '-27.9 ( 27.9 )', '-182.9 ( 182.9 )'], ['net cash provided by operating activities', '$ 2807.0', '$ 2841.0']]
during fiscal 2019 , cash provided by operations was $ 2807 million compared to $ 2841 million in the same period last year .the $ 34 million decrease was primarily driven by a $ 377 million decrease in net earnings and a $ 550 million change in current assets and liabilities , partially offset by a $ 598 million change in deferred income taxes .the $ 550 million change in current assets and liabilities was primarily driven by a $ 413 million change in the timing of accounts payable , including the impact of longer payment terms implemented in prior fiscal years .the change in deferred income taxes was primarily related to the $ 638 million provisional benefit from revaluing our net u.s .deferred tax liabilities to reflect the new u.s .corporate tax rate as a result of the tcja in fiscal we strive to grow core working capital at or below the rate of growth in our net sales .for fiscal 2019 , core working capital decreased 34 percent , compared to a net sales increase of 7 percent .as of may 26 , 2019 , our core working capital balance totaled $ 385 million , down 34 percent versus last year , this is primarily driven by continued benefits from our payment terms extension program and lower inventory balances .in fiscal 2018 , core working capital decreased 27 percent , compared to a net sales increase of 1 percent. .
|
during fiscal 2019 , what was the percent of the change in the cash provided by operations
|
-1.2%
|
{
"answer": "-1.2%",
"decimal": -0.012,
"type": "percentage"
}
| |
strategy to provide omni-channel solutions that combine gateway services , payment service provisioning and merchant acquiring 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 .in connection with the acquisition of realex , we paid a transaction-related tax of $ 1.2 million .other acquisition costs were not material .the revenue and earnings of realex for the year ended may 31 , 2015 were not material nor were the historical revenue and earnings of realex material for the purpose of presenting pro forma information for the current or prior-year periods .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 period of 10 years .the trade name has an estimated amortization period of 7 years .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 .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 .ezidebit markets its services through a network of integrated software vendors and direct channels to numerous vertical markets .we acquired ezidebit to establish a direct distribution channel in australia and new zealand and to further enhance 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 .certain adjustments to estimated fair value were recorded during the year ended may 31 , 2016 based on new information obtained that existed as of the acquisition date .during the measurement period , management determined that deferred income taxes should be reflected for certain nondeductible intangible assets .measurement-period adjustments , which are reflected in the table below , had no material effect on earnings or other comprehensive income for the current or prior periods .the revenue and earnings of ezidebit global payments inc .| 2016 form 10-k annual report 2013 69 .
|
what percentage of the total purchase consideration is comprised of intangible assets?
|
73%
|
{
"answer": "73%",
"decimal": 0.73,
"type": "percentage"
}
| |
development of prior year incurred losses was $ 135.6 million unfavorable in 2006 , $ 26.4 million favorable in 2005 and $ 249.4 million unfavorable in 2004 .such losses were the result of the reserve development noted above , as well as inher- ent uncertainty in establishing loss and lae reserves .reserves for asbestos and environmental losses and loss adjustment expenses as of year end 2006 , 7.4% ( 7.4 % ) of reserves reflect an estimate for the company 2019s ultimate liability for a&e claims for which ulti- mate value cannot be estimated using traditional reserving techniques .the company 2019s a&e liabilities stem from mt .mckinley 2019s direct insurance business and everest re 2019s assumed reinsurance business .there are significant uncertainties in estimating the amount of the company 2019s potential losses from a&e claims .see item 7 , 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014asbestos and environmental exposures 201d and note 3 of notes to consolidated financial statements .mt .mckinley 2019s book of direct a&e exposed insurance is relatively small and homogenous .it also arises from a limited period , effective 1978 to 1984 .the book is based principally on excess liability policies , thereby limiting exposure analysis to a lim- ited number of policies and forms .as a result of this focused structure , the company believes that it is able to comprehen- sively analyze its exposures , allowing it to identify , analyze and actively monitor those claims which have unusual exposure , including policies in which it may be exposed to pay expenses in addition to policy limits or non-products asbestos claims .the company endeavors to be actively engaged with every insured account posing significant potential asbestos exposure to mt .mckinley .such engagement can take the form of pursuing a final settlement , negotiation , litigation , or the monitoring of claim activity under settlement in place ( 201csip 201d ) agreements .sip agreements generally condition an insurer 2019s payment upon the actual claim experience of the insured and may have annual payment caps or other measures to control the insurer 2019s payments .the company 2019s mt .mckinley operation is currently managing eight sip agreements , three of which were executed prior to the acquisition of mt .mckinley in 2000 .the company 2019s preference with respect to coverage settlements is to exe- cute settlements that call for a fixed schedule of payments , because such settlements eliminate future uncertainty .the company has significantly enhanced its classification of insureds by exposure characteristics over time , as well as its analysis by insured for those it considers to be more exposed or active .those insureds identified as relatively less exposed or active are subject to less rigorous , but still active management , with an emphasis on monitoring those characteristics , which may indicate an increasing exposure or levels of activity .the company continually focuses on further enhancement of the detailed estimation processes used to evaluate potential exposure of policyholders , including those that may not have reported significant a&e losses .everest re 2019s book of assumed reinsurance is relatively concentrated within a modest number of a&e exposed relationships .it also arises from a limited period , effectively 1977 to 1984 .because the book of business is relatively concentrated and the company has been managing the a&e exposures for many years , its claim staff is familiar with the ceding companies that have generated most of these liabilities in the past and which are therefore most likely to generate future liabilities .the company 2019s claim staff has developed familiarity both with the nature of the business written by its ceding companies and the claims handling and reserving practices of those companies .this level of familiarity enhances the quality of the company 2019s analysis of its exposure through those companies .as a result , the company believes that it can identify those claims on which it has unusual exposure , such as non-products asbestos claims , for concentrated attention .however , in setting reserves for its reinsurance liabilities , the company relies on claims data supplied , both formally and informally by its ceding companies and brokers .this furnished information is not always timely or accurate and can impact the accuracy and timeli- ness of the company 2019s ultimate loss projections .the following table summarizes the composition of the company 2019s total reserves for a&e losses , gross and net of reinsurance , for the years ended december 31: .
[['( dollars in millions )', '2006', '2005', '2004'], ['case reserves reported by ceding companies', '$ 135.6', '$ 125.2', '$ 148.5'], ['additional case reserves established by the company ( assumed reinsurance ) ( 1 )', '152.1', '157.6', '151.3'], ['case reserves established by the company ( direct insurance )', '213.7', '243.5', '272.1'], ['incurred but not reported reserves', '148.7', '123.3', '156.4'], ['gross reserves', '650.1', '649.6', '728.3'], ['reinsurance receivable', '-138.7 ( 138.7 )', '-199.1 ( 199.1 )', '-221.6 ( 221.6 )'], ['net reserves', '$ 511.4', '$ 450.5', '$ 506.7']]
( 1 ) additional reserves are case specific reserves determined by the company to be needed over and above those reported by the ceding company .81790fin_a 4/13/07 11:08 am page 15 .
|
what is the growth rate in net reserves in 2005?
|
-11.1%
|
{
"answer": "-11.1%",
"decimal": -0.111,
"type": "percentage"
}
| |
discounted cash flow model ( dcf ) to estimate the current fair value of its reporting units when testing for impairment , as management believes forecasted cash flows are the best indicator of such fair value .a number of significant assumptions and estimates are involved in the application of the dcf model to forecast operating cash flows , including sales growth ( volumes and pricing ) , production costs , capital spending , and discount rate .most of these assumptions vary significantly among the reporting units .cash flow forecasts are generally based on approved business unit operating plans for the early years and historical relationships in later years .the wacc rate for the individual reporting units is estimated with the assistance of valuation experts .arconic would recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit 2019s fair value without exceeding the total amount of goodwill allocated to that reporting unit .in connection with the interim impairment evaluation of long-lived assets for the disks operations ( an asset group within the aen business unit ) in the second quarter of 2018 , which resulted from a decline in forecasted financial performance for the business in connection with its updated three-year strategic plan , the company also performed an interim impairment evaluation of goodwill for the aen reporting unit .the estimated fair value of the reporting unit was substantially in excess of the carrying value ; thus , there was no impairment of goodwill .goodwill impairment tests in 2017 and 2016 indicated that goodwill was not impaired for any of the company 2019s reporting units , except for the arconic forgings and extrusions ( afe ) business whose estimated fair value was lower than its carrying value .as such , arconic recorded an impairment for the full amount of goodwill in the afe reporting unit of $ 719 .the decrease in the afe fair value was primarily due to unfavorable performance that was impacting operating margins and a higher discount rate due to an increase in the risk-free rate of return , while the carrying value increased compared to prior year .other intangible assets .intangible assets with indefinite useful lives are not amortized while intangible assets with finite useful lives are amortized generally on a straight-line basis over the periods benefited .the following table details the weighted- average useful lives of software and other intangible assets by reporting segment ( numbers in years ) : .
[['', 'software', 'other intangible assets'], ['engineered products and solutions', '5', '33'], ['global rolled products', '5', '9'], ['transportation and construction solutions', '5', '16']]
revenue recognition .the company's contracts with customers are comprised of acknowledged purchase orders incorporating the company 2019s standard terms and conditions , or for larger customers , may also generally include terms under negotiated multi-year agreements .these contracts with customers typically consist of the manufacture of products which represent single performance obligations that are satisfied upon transfer of control of the product to the customer .the company produces fastening systems ; seamless rolled rings ; investment castings , including airfoils and forged jet engine components ; extruded , machined and formed aircraft parts ; aluminum sheet and plate ; integrated aluminum structural systems ; architectural extrusions ; and forged aluminum commercial vehicle wheels .transfer of control is assessed based on alternative use of the products we produce and our enforceable right to payment for performance to date under the contract terms .transfer of control and revenue recognition generally occur upon shipment or delivery of the product , which is when title , ownership and risk of loss pass to the customer and is based on the applicable shipping terms .the shipping terms vary across all businesses and depend on the product , the country of origin , and the type of transportation ( truck , train , or vessel ) .an invoice for payment is issued at time of shipment .the company 2019s objective is to have net 30-day terms .our business units set commercial terms on which arconic sells products to its customers .these terms are influenced by industry custom , market conditions , product line ( specialty versus commodity products ) , and other considerations .in certain circumstances , arconic receives advanced payments from its customers for product to be delivered in future periods .these advanced payments are recorded as deferred revenue until the product is delivered and title and risk of loss have passed to the customer in accordance with the terms of the contract .deferred revenue is included in other current liabilities and other noncurrent liabilities and deferred credits on the accompanying consolidated balance sheet .environmental matters .expenditures for current operations are expensed or capitalized , as appropriate .expenditures relating to existing conditions caused by past operations , which will not contribute to future revenues , are expensed .liabilities are recorded when remediation costs are probable and can be reasonably estimated .the liability may include costs such as site investigations , consultant fees , feasibility studies , outside contractors , and monitoring expenses .estimates are generally not discounted or reduced by potential claims for recovery .claims for recovery are recognized when probable and as agreements are reached with third parties .the estimates also include costs related to other potentially responsible parties to the extent that arconic has reason to believe such parties will not fully pay their proportionate share .the liability is continuously reviewed and adjusted to reflect current remediation progress , prospective estimates of required activity , and other factors that may be relevant , including changes in technology or regulations .litigation matters .for asserted claims and assessments , liabilities are recorded when an unfavorable outcome of a matter is .
|
how long is the weighted- average useful lives of other assets , as a percent of software in the engineered products and solutions segment?
|
560%
|
{
"answer": "560%",
"decimal": 5.6,
"type": "percentage"
}
|
it is the weighted- average useful lives of software ( 5 years ) divided by the weighted- average useful lives of other assets ( 33 years ) , then minus 100% .
|
management 2019s discussion and analysis j.p .morgan chase & co .22 j.p .morgan chase & co ./ 2003 annual report overview j.p .morgan chase & co .is a leading global finan- cial services firm with assets of $ 771 billion and operations in more than 50 countries .the firm serves more than 30 million consumers nationwide through its retail businesses , and many of the world's most prominent corporate , institutional and government clients through its global whole- sale businesses .total noninterest expense was $ 21.7 billion , down 5% ( 5 % ) from the prior year .in 2002 , the firm recorded $ 1.3 billion of charges , princi- pally for enron-related surety litigation and the establishment of lit- igation reserves ; and $ 1.2 billion for merger and restructuring costs related to programs announced prior to january 1 , 2002 .excluding these costs , expenses rose by 7% ( 7 % ) in 2003 , reflecting higher per- formance-related incentives ; increased costs related to stock-based compensation and pension and other postretirement expenses ; and higher occupancy expenses .the firm began expensing stock options in 2003 .restructuring costs associated with initiatives announced after january 1 , 2002 , were recorded in their relevant expense categories and totaled $ 630 million in 2003 , down 29% ( 29 % ) from 2002 .the 2003 provision for credit losses of $ 1.5 billion was down $ 2.8 billion , or 64% ( 64 % ) , from 2002 .the provision was lower than total net charge-offs of $ 2.3 billion , reflecting significant improvement in the quality of the commercial loan portfolio .commercial nonperforming assets and criticized exposure levels declined 42% ( 42 % ) and 47% ( 47 % ) , respectively , from december 31 , 2002 .consumer credit quality remained stable .earnings per diluted share ( 201ceps 201d ) for the year were $ 3.24 , an increase of 305% ( 305 % ) over the eps of $ 0.80 reported in 2002 .results in 2002 were provided on both a reported basis and an operating basis , which excluded merger and restructuring costs and special items .operating eps in 2002 was $ 1.66 .see page 28 of this annual report for a reconciliation between reported and operating eps .summary of segment results the firm 2019s wholesale businesses are known globally as 201cjpmorgan , 201d and its national consumer and middle market busi- nesses are known as 201cchase . 201d the wholesale businesses com- prise four segments : the investment bank ( 201cib 201d ) , treasury & securities services ( 201ctss 201d ) , investment management & private banking ( 201cimpb 201d ) and jpmorgan partners ( 201cjpmp 201d ) .ib provides a full range of investment banking and commercial banking products and services , including advising on corporate strategy and structure , capital raising , risk management , and market-making in cash securities and derivative instruments in all major capital markets .the three businesses within tss provide debt servicing , securities custody and related functions , and treasury and cash management services to corporations , financial institutions and governments .the impb business provides invest- ment management services to institutional investors , high net worth individuals and retail customers and also provides person- alized advice and solutions to wealthy individuals and families .jpmp , the firm 2019s private equity business , provides equity and mez- zanine capital financing to private companies .the firm 2019s national consumer and middle market businesses , which provide lending and full-service banking to consumers and small and middle mar- ket businesses , comprise chase financial services ( 201ccfs 201d ) .financial performance of jpmorgan chase as of or for the year ended december 31 .
[['( in millions except per share and ratio data )', '2003', '2002', 'change'], ['revenue', '$ 33256', '$ 29614', '12% ( 12 % )'], ['noninterest expense', '21688', '22764', '-5 ( 5 )'], ['provision for credit losses', '1540', '4331', '-64 ( 64 )'], ['net income', '6719', '1663', '304'], ['net income per share 2013 diluted', '3.24', '0.80', '305'], ['average common equity', '42988', '41368', '4'], ['return on average common equity ( 201croce 201d )', '16% ( 16 % )', '4% ( 4 % )', '1200bp'], ['tier 1 capital ratio', '8.5% ( 8.5 % )', '8.2% ( 8.2 % )', '30bp'], ['total capital ratio', '11.8', '12.0', '-20 ( 20 )'], ['tier 1 leverage ratio', '5.6', '5.1', '50']]
in 2003 , global growth strengthened relative to the prior two years .the u.s .economy improved significantly , supported by diminishing geopolitical uncertainties , new tax relief , strong profit growth , low interest rates and a rising stock market .productivity at u.s .businesses continued to grow at an extraor- dinary pace , as a result of ongoing investment in information technologies .profit margins rose to levels not seen in a long time .new hiring remained tepid , but signs of an improving job market emerged late in the year .inflation fell to the lowest level in more than 40 years , and the board of governors of the federal reserve system ( the 201cfederal reserve board 201d ) declared that its long-run goal of price stability had been achieved .against this backdrop , j.p .morgan chase & co .( 201cjpmorgan chase 201d or the 201cfirm 201d ) reported 2003 net income of $ 6.7 bil- lion , compared with net income of $ 1.7 billion in 2002 .all five of the firm 2019s lines of business benefited from the improved eco- nomic conditions , with each reporting increased revenue over 2002 .in particular , the low 2013interest rate environment drove robust fixed income markets and an unprecedented mortgage refinancing boom , resulting in record earnings in the investment bank and chase financial services .total revenue for 2003 was $ 33.3 billion , up 12% ( 12 % ) from 2002 .the investment bank 2019s revenue increased by approximately $ 1.9 billion from 2002 , and chase financial services 2019 revenue was $ 14.6 billion in 2003 , another record year. .
|
what was non-interest expense as a percentage of revenue in 2002?
|
77%
|
{
"answer": "77%",
"decimal": 0.77,
"type": "percentage"
}
|
looking at this ratio for a financial institution like a bank demonstrates the leverage or lack of leverage the operations has on profitability .
|
the company entered into agreements with various governmental entities in the states of kentucky , georgia and tennessee to implement tax abatement plans related to its distribution center in franklin , kentucky ( simpson county ) , its distribution center in macon , georgia ( bibb county ) , and its store support center in brentwood , tennessee ( williamson county ) .the tax abatement plans provide for reduction of real property taxes for specified time frames by legally transferring title to its real property in exchange for industrial revenue bonds .this property was then leased back to the company .no cash was exchanged .the lease payments are equal to the amount of the payments on the bonds .the tax abatement period extends through the term of the lease , which coincides with the maturity date of the bonds .at any time , the company has the option to purchase the real property by paying off the bonds , plus $ 1 .the terms and amounts authorized and drawn under each industrial revenue bond agreement are outlined as follows , as of december 30 , 2017 : bond term bond authorized amount ( in millions ) amount drawn ( in millions ) .
[['', 'bond term', 'bond authorized amount ( in millions )', 'amount drawn ( in millions )'], ['franklin kentucky distribution center', '30 years', '$ 54.0', '$ 51.8'], ['macon georgia distribution center', '15 years', '$ 58.0', '$ 49.9'], ['brentwood tennessee store support center', '10 years', '$ 78.0', '$ 75.3']]
due to the form of these transactions , the company has not recorded the bonds or the lease obligation associated with the sale lease-back transaction .the original cost of the company 2019s property and equipment is recorded on the balance sheet and is being depreciated over its estimated useful life .capitalized software costs the company capitalizes certain costs related to the acquisition and development of software and amortizes these costs using the straight-line method over the estimated useful life of the software , which is three to five years .computer software consists of software developed for internal use and third-party software purchased for internal use .a subsequent addition , modification or upgrade to internal-use software is capitalized to the extent that it enhances the software 2019s functionality or extends its useful life .these costs are included in computer software and hardware in the accompanying consolidated balance sheets .certain software costs not meeting the criteria for capitalization are expensed as incurred .store closing costs the company regularly evaluates the performance of its stores and periodically closes those that are under-performing .the company records a liability for costs associated with an exit or disposal activity when the liability is incurred , usually in the period the store closes .store closing costs were not significant to the results of operations for any of the fiscal years presented .leases assets under capital leases are amortized in accordance with the company 2019s normal depreciation policy for owned assets or over the lease term , if shorter , and the related charge to operations is included in depreciation expense in the consolidated statements of income .certain operating leases include rent increases during the lease term .for these leases , the company recognizes the related rental expense on a straight-line basis over the term of the lease ( which includes the pre-opening period of construction , renovation , fixturing and merchandise placement ) and records the difference between the expense charged to operations and amounts paid as a deferred rent liability .the company occasionally receives reimbursements from landlords to be used towards improving the related store to be leased .leasehold improvements are recorded at their gross costs , including items reimbursed by landlords .related reimbursements are deferred and amortized on a straight-line basis as a reduction of rent expense over the applicable lease term .note 2 - share-based compensation : share-based compensation includes stock option and restricted stock unit awards and certain transactions under the company 2019s espp .share-based compensation expense is recognized based on the grant date fair value of all stock option and restricted stock unit awards plus a discount on shares purchased by employees as a part of the espp .the discount under the espp represents the difference between the purchase date market value and the employee 2019s purchase price. .
|
as of december 312017 what was the percent of the amount drawn to the amount authorized for the franklin kentucky distribution center
|
95.9%
|
{
"answer": "95.9%",
"decimal": 0.9590000000000001,
"type": "percentage"
}
| |
9 .junior subordinated debt securities payable in accordance with the provisions of the junior subordinated debt securities which were issued on march 29 , 2004 , holdings elected to redeem the $ 329897 thousand of 6.2% ( 6.2 % ) junior subordinated debt securities outstanding on may 24 , 2013 .as a result of the early redemption , the company incurred pre-tax expense of $ 7282 thousand related to the immediate amortization of the remaining capitalized issuance costs on the trust preferred securities .interest expense incurred in connection with these junior subordinated debt securities is as follows for the periods indicated: .
[['( dollars in thousands )', 'years ended december 31 , 2015', 'years ended december 31 , 2014', 'years ended december 31 , 2013'], ['interest expense incurred', '$ -', '$ -', '$ 8181']]
holdings considered the mechanisms and obligations relating to the trust preferred securities , taken together , constituted a full and unconditional guarantee by holdings of capital trust ii 2019s payment obligations with respect to their trust preferred securities .10 .reinsurance and trust agreements certain subsidiaries of group have established trust agreements , which effectively use the company 2019s investments as collateral , as security for assumed losses payable to certain non-affiliated ceding companies .at december 31 , 2015 , the total amount on deposit in trust accounts was $ 454384 thousand .on april 24 , 2014 , the company entered into two collateralized reinsurance agreements with kilimanjaro re limited ( 201ckilimanjaro 201d ) , a bermuda based special purpose reinsurer , to provide the company with catastrophe reinsurance coverage .these agreements are multi-year reinsurance contracts which cover specified named storm and earthquake events .the first agreement provides up to $ 250000 thousand of reinsurance coverage from named storms in specified states of the southeastern united states .the second agreement provides up to $ 200000 thousand of reinsurance coverage from named storms in specified states of the southeast , mid-atlantic and northeast regions of the united states and puerto rico as well as reinsurance coverage from earthquakes in specified states of the southeast , mid-atlantic , northeast and west regions of the united states , puerto rico and british columbia .on november 18 , 2014 , the company entered into a collateralized reinsurance agreement with kilimanjaro re to provide the company with catastrophe reinsurance coverage .this agreement is a multi-year reinsurance contract which covers specified earthquake events .the agreement provides up to $ 500000 thousand of reinsurance coverage from earthquakes in the united states , puerto rico and canada .on december 1 , 2015 the company entered into two collateralized reinsurance agreements with kilimanjaro re to provide the company with catastrophe reinsurance coverage .these agreements are multi-year reinsurance contracts which cover named storm and earthquake events .the first agreement provides up to $ 300000 thousand of reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .the second agreement provides up to $ 325000 thousand of reinsurance coverage from named storms and earthquakes in the united states , puerto rico and canada .kilimanjaro has financed the various property catastrophe reinsurance coverage by issuing catastrophe bonds to unrelated , external investors .on april 24 , 2014 , kilimanjaro issued $ 450000 thousand of notes ( 201cseries 2014-1 notes 201d ) .on november 18 , 2014 , kilimanjaro issued $ 500000 thousand of notes ( 201cseries 2014-2 notes 201d ) .on december 1 , 2015 , kilimanjaro issued $ 625000 thousand of notes ( 201cseries 2015-1 notes ) .the proceeds from the issuance of the series 2014-1 notes , the series 2014-2 notes and the series 2015-1 notes are held in reinsurance trust throughout the duration of the applicable reinsurance agreements and invested solely in us government money market funds with a rating of at least 201caaam 201d by standard & poor 2019s. .
|
what was the percent of the pre-tax expense incurred as part of the early redemption to the redemption amount
|
2.21%
|
{
"answer": "2.21%",
"decimal": 0.022099999999999998,
"type": "percentage"
}
| |
liabilities and related insurance receivables where applicable , or make such estimates for matters previously not susceptible of reasonable estimates , such as a significant judicial ruling or judgment , significant settlement , significant regulatory development or changes in applicable law .a future adverse ruling , settlement or unfavorable development could result in future charges that could have a material adverse effect on the company 2019s results of operations or cash flows in any particular period .a specific factor that could increase the company 2019s estimate of its future asbestos-related liabilities is the pending congressional consideration of legislation to reform asbestos- related litigation and pertinent information derived from that process .for a more detailed discussion of the legal proceedings involving the company and associated accounting estimates , see the discussion in note 11 to the consolidated financial statements of this annual report on form 10-k .item 1b .unresolved staff comments .item 2 .properties .3m 2019s general offices , corporate research laboratories , and certain division laboratories are located in st .paul , minnesota .in the united states , 3m has 15 sales offices in 12 states and operates 59 manufacturing facilities in 23 states .internationally , 3m has 173 sales offices .the company operates 80 manufacturing and converting facilities in 29 countries outside the united states .3m owns substantially all of its physical properties .3m 2019s physical facilities are highly suitable for the purposes for which they were designed .because 3m is a global enterprise characterized by substantial intersegment cooperation , properties are often used by multiple business segments .item 3 .legal proceedings .discussion of legal matters is incorporated by reference from part ii , item 8 , note 11 , 201ccommitments and contingencies 201d , of this document , and should be considered an integral part of part i , item 3 , 201clegal proceedings 201d .item 4 .submission of matters to a vote of security holders .none in the quarter ended december 31 , 2005 .part ii item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities .equity compensation plans 2019 information is incorporated by reference from part iii , item 12 , security ownership of certain beneficial owners and management , of this document , and should be considered an integral part of item 5 .at january 31 , 2006 , there were approximately 125823 shareholders of record .3m 2019s stock is listed on the new york stock exchange , inc .( nyse ) , pacific exchange , inc. , chicago stock exchange , inc. , and the swx swiss exchange .cash dividends declared and paid totaled $ .42 per share for each quarter of 2005 , and $ .36 per share for each quarter of 2004 .stock price comparisons follow : stock price comparisons ( nyse composite transactions ) ( per share amounts ) quarter second quarter quarter fourth quarter year .
[['( per share amounts )', 'first quarter', 'second quarter', 'third quarter', 'fourth quarter', 'year'], ['2005 high', '$ 87.45', '$ 86.21', '$ 76.74', '$ 79.84', '$ 87.45'], ['2005 low', '80.73', '$ 72.25', '70.41', '69.71', '69.71'], ['2004 high', '$ 86.20', '$ 90.29', '$ 90.11', '$ 83.03', '$ 90.29'], ['2004 low', '74.35', '80.90', '77.20', '73.31', '73.31']]
.
|
in 2005 what was the percentage difference in the year end high and low
|
25.45%
|
{
"answer": "25.45%",
"decimal": 0.2545,
"type": "percentage"
}
| |
visa inc .notes to consolidated financial statements 2014 ( continued ) september 30 , 2009 ( in millions , except as noted ) to value the shares issued on june 15 , 2007 ( the 201cmeasurement date 201d ) , the company primarily relied upon the analysis of comparable companies with similar industry , business model and financial profiles .this analysis considered a range of metrics including the forward multiples of revenue ; earnings before interest , depreciation and amortization ; and net income of these comparable companies .ultimately , the company determined that the forward net income multiple was the most appropriate measure to value the acquired regions and reflect anticipated changes in the company 2019s financial profile prospectively .this multiple was applied to the corresponding forward net income of the acquired regions to calculate their value .the most comparable company identified was mastercard inc .therefore , the most significant input into this analysis was mastercard 2019s forward net income multiple of 27 times net income at the measurement date .visa inc .common stock issued to visa europe as part of the reorganization , visa europe received 62762788 shares of class c ( series iii and iv ) common stock valued at $ 3.1 billion based on the value of the class c ( series i ) common stock issued to the acquired regions .visa europe also received 27904464 shares of class c ( series ii ) common stock valued at $ 1.104 billion determined by discounting the redemption price of these shares using a risk-free rate of 4.9% ( 4.9 % ) over the period to october 2008 , when these shares were redeemed by the company .prior to the ipo , the company issued visa europe an additional 51844393 class c ( series ii ) common stock at a price of $ 44 per share in exchange for a subscription receivable .the issuance and subscription receivable were recorded as offsetting entries in temporary equity at september 30 , 2008 .completion of the company 2019s ipo triggered the redemption feature of this stock and in march 2008 , the company reclassified all outstanding shares of the class c ( series ii ) common stock at its then fair value of $ 1.125 billion to temporary equity on the consolidated balance sheet with a corresponding reduction in additional paid-in-capital of $ 1.104 billion and accumulated income of $ 21 million .from march 2008 to october 10 , 2008 , the date these shares were redeemed , the company recorded accretion of this stock to its redemption price through accumulated income .fair value of assets acquired and liabilities assumed total purchase consideration has been allocated to the tangible and identifiable intangible assets and liabilities assumed underlying the acquired interests based on their fair value on the reorganization date .the excess of purchase consideration over net assets assumed was recorded as goodwill .the following table summarizes this allocation. .
[['', 'in millions'], ['tangible assets and liabilities', ''], ['current assets', '$ 1733'], ['non-current assets', '1122'], ['current liabilities', '-1194 ( 1194 )'], ['non-current liabilities', '-4426 ( 4426 )'], ['intangible assets', '10883'], ['goodwill', '10295'], ['net assets acquired', '$ 18413']]
.
|
what was the percent of the net assets acquired allocated to current assets
|
9.4%
|
{
"answer": "9.4%",
"decimal": 0.094,
"type": "percentage"
}
| |
15 .leases in january 1996 , the company entered into a lease agreement with an unrelated third party for a new corporate office facility , which the company occupied in february 1997 .in may 2004 , the company entered into the first amendment to this lease agreement , effective january 1 , 2004 .the lease was extended from an original period of 10 years , with an option for five additional years , to a period of 18 years from the inception date , with an option for five additional years .the company incurred lease rental expense related to this facility of $ 1.3 million in 2008 , 2007 and 2006 .the future minimum lease payments are $ 1.4 million per annum from january 1 , 2009 to december 31 , 2014 .the future minimum lease payments from january 1 , 2015 through december 31 , 2019 will be determined based on prevailing market rental rates at the time of the extension , if elected .the amended lease also provided for the lessor to reimburse the company for up to $ 550000 in building refurbishments completed through march 31 , 2006 .these amounts have been recorded as a reduction of lease expense over the remaining term of the lease .the company has also entered into various noncancellable operating leases for equipment and office space .office space lease expense totaled $ 9.3 million , $ 6.3 million and $ 4.7 million for the years ended december 31 , 2008 , 2007 and 2006 , respectively .future minimum lease payments under noncancellable operating leases for office space in effect at december 31 , 2008 are $ 8.8 million in 2009 , $ 6.6 million in 2010 , $ 3.0 million in 2011 , $ 1.8 million in 2012 and $ 1.1 million in 2013 .16 .royalty agreements the company has entered into various renewable , nonexclusive license agreements under which the company has been granted access to the licensor 2019s technology and the right to sell the technology in the company 2019s product line .royalties are payable to developers of the software at various rates and amounts , which generally are based upon unit sales or revenue .royalty fees are reported in cost of goods sold and were $ 6.3 million , $ 5.2 million and $ 3.9 million for the years ended december 31 , 2008 , 2007 and 2006 , respectively .17 .geographic information revenue to external customers is attributed to individual countries based upon the location of the customer .revenue by geographic area is as follows: .
[['( in thousands )', 'year ended december 31 , 2008', 'year ended december 31 , 2007', 'year ended december 31 , 2006'], ['united states', '$ 151688', '$ 131777', '$ 94282'], ['germany', '68390', '50973', '34567'], ['japan', '66960', '50896', '35391'], ['canada', '8033', '4809', '4255'], ['other european', '127246', '108971', '70184'], ['other international', '56022', '37914', '24961'], ['total revenue', '$ 478339', '$ 385340', '$ 263640']]
.
|
what was the average future minimum lease payments under noncancellable operating leases for office space from 2009 to 2013 in millions .
|
5.325
|
{
"answer": "5.325",
"decimal": 5.325,
"type": "float"
}
| |
holding other assumptions constant , the following table reflects what a one hundred basis point increase and decrease in our estimated long-term rate of return on plan assets would have on our estimated 2011 pension expense ( in millions ) : change in long-term rate of return on plan assets .
[['increase ( decrease ) in expense', 'change in long-term rateof return on plan assets increase', 'change in long-term rateof return on plan assets decrease'], ['u.s . plans', '$ -14 ( 14 )', '$ 14'], ['u.k . plans', '-35 ( 35 )', '35'], ['the netherlands plan', '-5 ( 5 )', '5'], ['canada plans', '-2 ( 2 )', '2']]
estimated future contributions we estimate contributions of approximately $ 403 million in 2011 as compared with $ 288 million in goodwill and other intangible assets goodwill represents the excess of cost over the fair market value of the net assets acquired .we classify our intangible assets acquired as either trademarks , customer relationships , technology , non-compete agreements , or other purchased intangibles .our goodwill and other intangible balances at december 31 , 2010 increased to $ 8.6 billion and $ 3.6 billion , respectively , compared to $ 6.1 billion and $ 791 million , respectively , at december 31 , 2009 , primarily as a result of the hewitt acquisition .although goodwill is not amortized , we test it for impairment at least annually in the fourth quarter .in the fourth quarter , we also test acquired trademarks ( which also are not amortized ) for impairment .we test more frequently if there are indicators of impairment or whenever business circumstances suggest that the carrying value of goodwill or trademarks may not be recoverable .these indicators may include a sustained significant decline in our share price and market capitalization , a decline in our expected future cash flows , or a significant adverse change in legal factors or in the business climate , among others .no events occurred during 2010 or 2009 that indicate the existence of an impairment with respect to our reported goodwill or trademarks .we perform impairment reviews at the reporting unit level .a reporting unit is an operating segment or one level below an operating segment ( referred to as a 2018 2018component 2019 2019 ) .a component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component .an operating segment shall be deemed to be a reporting unit if all of its components are similar , if none of its components is a reporting unit , or if the segment comprises only a single component .the goodwill impairment test is a two step analysis .step one requires the fair value of each reporting unit to be compared to its book value .management must apply judgment in determining the estimated fair value of the reporting units .if the fair value of a reporting unit is determined to be greater than the carrying value of the reporting unit , goodwill and trademarks are deemed not to be impaired and no further testing is necessary .if the fair value of a reporting unit is less than the carrying value , we perform step two .step two uses the calculated fair value of the reporting unit to perform a hypothetical purchase price allocation to the fair value of the assets and liabilities of the reporting unit .the difference between the fair value of the reporting unit calculated in step one and the fair value of the underlying assets and liabilities of the reporting unit is the implied fair value of the reporting unit 2019s goodwill .a charge is recorded in the financial statements if the carrying value of the reporting unit 2019s goodwill is greater than its implied fair value. .
|
what was the percentage change in the goodwill in 2010 as a result of the hewitt acquisition .
|
41%
|
{
"answer": "41%",
"decimal": 0.41,
"type": "percentage"
}
| |
in the ordinary course of business , based on our evaluations of certain geologic trends and prospective economics , we have allowed certain lease acreage to expire and may allow additional acreage to expire in the future .if production is not established or we take no other action to extend the terms of the leases , licenses , or concessions , undeveloped acreage listed in the table below will expire over the next three years .we plan to continue the terms of many of these licenses and concession areas or retain leases through operational or administrative actions. .
[['( in thousands )', 'net undeveloped acres expiring 2013', 'net undeveloped acres expiring 2014', 'net undeveloped acres expiring 2015'], ['u.s .', '436', '189', '130'], ['canada', '2014', '2014', '2014'], ['total north america', '436', '189', '130'], ['e.g .', '2014', '36', '2014'], ['other africa', '858', '2014', '189'], ['total africa', '858', '36', '189'], ['total europe', '2014', '216', '1155'], ['other international', '2014', '2014', '49'], ['worldwide', '1294', '441', '1523']]
marketing and midstream our e&p segment includes activities related to the marketing and transportation of substantially all of our liquid hydrocarbon and natural gas production .these activities include the transportation of production to market centers , the sale of commodities to third parties and storage of production .we balance our various sales , storage and transportation positions through what we call supply optimization , which can 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 .as discussed previously , we currently own and operate gathering systems and other midstream assets in some of our production areas .we are continually evaluating value-added investments in midstream infrastructure or in capacity in third-party systems .delivery commitments we have committed to deliver quantities of crude oil and natural gas to customers under a variety of contracts .as of december 31 , 2012 , those contracts for fixed and determinable amounts relate primarily to eagle ford liquid hydrocarbon production .a minimum of 54 mbbld is to be delivered at variable pricing through mid-2017 under two contracts .our current production rates and proved reserves related to the eagle ford shale are sufficient to meet these commitments , but the contracts also provide for a monetary shortfall penalty or delivery of third-party volumes .oil sands mining segment we hold a 20 percent non-operated interest in the aosp , an oil sands mining and upgrading joint venture located in alberta , canada .the joint venture produces bitumen from oil sands deposits in the athabasca region utilizing mining techniques and upgrades the bitumen to synthetic crude oils and vacuum gas oil .the aosp 2019s mining and extraction assets are located near fort mcmurray , alberta and include the muskeg river and the jackpine mines .gross design capacity of the combined mines is 255000 ( 51000 net to our interest ) barrels of bitumen per day .the aosp base and expansion 1 scotford upgrader is at fort saskatchewan , northeast of edmonton , alberta .as of december 31 , 2012 , we own or have rights to participate in developed and undeveloped leases totaling approximately 216000 gross ( 43000 net ) acres .the underlying developed leases are held for the duration of the project , with royalties payable to the province of alberta .the five year aosp expansion 1 was completed in 2011 .the jackpine mine commenced production under a phased start- up in the third quarter of 2010 and began supplying oil sands ore to the base processing facility in the fourth quarter of 2010 .the upgrader expansion was completed and commenced operations in the second quarter of 2011 .synthetic crude oil sales volumes for 2012 were 47 mbbld and net of royalty production was 41 mbbld .phase one of debottlenecking opportunities was approved in 2011 and is expected to be completed in the second quarter of 2013 .future expansions and additional debottlenecking opportunities remain under review with no formal approvals expected until 2014 .current aosp operations use established processes to mine oil sands deposits from an open-pit mine , extract the bitumen and upgrade it into synthetic crude oils .ore is mined using traditional truck and shovel mining techniques .the mined ore passes through primary crushers to reduce the ore chunks in size and is then sent to rotary breakers where the ore chunks are further reduced to smaller particles .the particles are combined with hot water to create slurry .the slurry moves through the extraction .
|
based on synthetic crude oil sales volumes for 2012 , what are the deemed mbbld due to royalty production?
|
6
|
{
"answer": "6",
"decimal": 6,
"type": "float"
}
| |
the following table summarizes the weighted-average number of ordinary shares outstanding for basic and diluted earnings per share calculations. .
[['in millions', '2016', '2015', '2014'], ['weighted-average number of basic shares', '95.8', '95.9', '96.1'], ['shares issuable under incentive stock plans', '1.1', '1.0', '1.1'], ['weighted-average number of diluted shares', '96.9', '96.9', '97.2']]
at december 31 , 2016 , 0.6 million stock options were excluded from the computation of weighted average diluted shares outstanding because the effect of including these shares would have been anti-dilutive .note 21 2013 commitments and contingencies the company is involved in various litigations , claims and administrative proceedings , including those related to environmental and product warranty matters .amounts recorded for identified contingent liabilities are estimates , which are reviewed periodically and adjusted to reflect additional information when it becomes available .subject to the uncertainties inherent in estimating future costs for contingent liabilities , except as expressly set forth in this note , management believes that any liability which may result from these legal matters would not have a material adverse effect on the financial condition , results of operations , liquidity or cash flows of the company .environmental matters the company is dedicated to an environmental program to reduce the utilization and generation of hazardous materials during the manufacturing process and to remediate identified environmental concerns .as to the latter , the company is currently engaged in site investigations and remediation activities to address environmental cleanup from past operations at current and former production facilities .the company regularly evaluates its remediation programs and considers alternative remediation methods that are in addition to , or in replacement of , those currently utilized by the company based upon enhanced technology and regulatory changes .changes to the company's remediation programs may result in increased expenses and increased environmental reserves .the company is sometimes a party to environmental lawsuits and claims and has received notices of potential violations of environmental laws and regulations from the u.s .environmental protection agency and similar state authorities .it has also been identified as a potentially responsible party ( "prp" ) for cleanup costs associated with off-site waste disposal at federal superfund and state remediation sites .for all such sites , there are other prps and , in most instances , the company 2019s involvement is minimal .in estimating its liability , the company has assumed it will not bear the entire cost of remediation of any site to the exclusion of other prps who may be jointly and severally liable .the ability of other prps to participate has been taken into account , based on our understanding of the parties 2019 financial condition and probable contributions on a per site basis .additional lawsuits and claims involving environmental matters are likely to arise from time to time in the future .the company incurred $ 23.3 million , $ 4.4 million , and $ 2.9 million of expenses during the years ended december 31 , 2016 , 2015 and 2014 , respectively , for environmental remediation at sites presently or formerly owned or leased by the company .in the fourth-quarter of 2016 , with the collaboration and approval of state regulators , the company launched a proactive , alternative approach to remediate two sites in the united states .this approach will allow the company to more aggressively address environmental conditions at these sites and reduce the impact of potential changes in regulatory requirements .as a result , the company recorded a $ 15 million charge for environmental remediation in the fourth quarter .environmental remediation costs are recorded in costs of goods sold within the consolidated statements of comprehensive income .as of december 31 , 2016 and 2015 , the company has recorded reserves for environmental matters of $ 30.6 million and $ 15.2 million .the total reserve at december 31 , 2016 and 2015 included $ 9.6 million and $ 2.8 million related to remediation of sites previously disposed by the company .environmental reserves are classified as accrued expenses and other current liabilities or other noncurrent liabilities based on their expected term .the company's total current environmental reserve at december 31 , 2016 and 2015 was $ 6.1 million and $ 3.7 million and the remainder is classified as noncurrent .given the evolving nature of environmental laws , regulations and technology , the ultimate cost of future compliance is uncertain .warranty liability standard product warranty accruals are recorded at the time of sale and are estimated based upon product warranty terms and historical experience .the company assesses the adequacy of its liabilities and will make adjustments as necessary based on known or anticipated warranty claims , or as new information becomes available. .
|
considering the years 2014-2016 , what is the average number of shares issuable under incentive stock plans , in millions?
|
1.067
|
{
"answer": "1.067",
"decimal": 1.067,
"type": "float"
}
|
it is the sum of all shares issuable under incentive stock plans during these years , then divided by three .
|
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. .
|
if operating cash flow increases in 2015 at the same pace as in 2014 , what would the expected amount be?
|
7385000000
|
{
"answer": "7385000000",
"decimal": 7385000000,
"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 sec , 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 , 2012 in the standard & poor 2019s 500 index , the dow jones transportation average and our class b common stock. .
[['', '12/31/2012', '12/31/2013', '12/31/2014', '12/31/2015', '12/31/2016', '12/31/2017'], ['united parcel service inc .', '$ 100.00', '$ 146.54', '$ 159.23', '$ 148.89', '$ 182.70', '$ 195.75'], ['standard & poor 2019s 500 index', '$ 100.00', '$ 132.38', '$ 150.49', '$ 152.55', '$ 170.79', '$ 208.06'], ['dow jones transportation average', '$ 100.00', '$ 141.38', '$ 176.83', '$ 147.19', '$ 179.37', '$ 213.49']]
.
|
what is the total cumulative percentage return on investment on class b common stock for the five years ended 122/31/2017?
|
95.75%
|
{
"answer": "95.75%",
"decimal": 0.9575,
"type": "percentage"
}
| |
table of contents company stock performance the following graph shows a comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 index , the dow jones u.s .technology supersector index and the s&p information technology index for the five years ended september 27 , 2014 .the company has added the s&p information technology index to the graph to capture the stock performance of companies whose products and services relate to those of the company .the s&p information technology index replaces the s&p computer hardware index , which is no longer tracked by s&p .the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the dow jones u.s .technology supersector index and the s&p information technology index as of the market close on september 25 , 2009 .note that historic stock price performance is not necessarily indicative of future stock price performance .copyright a9 2014 s&p , a division of the mcgraw-hill companies inc .all rights reserved .copyright a9 2014 dow jones & co .all rights reserved .apple inc .| 2014 form 10-k | 23 * $ 100 invested on 9/25/09 in stock or index , including reinvestment of dividends .data points are the last day of each fiscal year for the company 2019s common stock and september 30th for indexes .september september september september september september .
[['', 'september 2009', 'september 2010', 'september 2011', 'september 2012', 'september 2013', 'september 2014'], ['apple inc .', '$ 100', '$ 160', '$ 222', '$ 367', '$ 272', '$ 407'], ['s&p 500 index', '$ 100', '$ 110', '$ 111', '$ 145', '$ 173', '$ 207'], ['dow jones u.s . technology supersector index', '$ 100', '$ 112', '$ 115', '$ 150', '$ 158', '$ 205'], ['s&p information technology index', '$ 100', '$ 111', '$ 115', '$ 152', '$ 163', '$ 210']]
.
|
what was the difference in percentage of cumulative total shareholder return for the five year period ended september 2014 between apple inc . and the s&p 500 index?
|
200%
|
{
"answer": "200%",
"decimal": 2,
"type": "percentage"
}
| |
notes to consolidated financial statements 2014 ( continued ) merchant acquiring business in the united kingdom to the partnership .in addition , hsbc uk entered into a ten-year marketing alliance with the partnership in which hsbc uk will refer customers to the partnership for payment processing services in the united kingdom .on june 23 , 2008 , we entered into a new five year , $ 200 million term loan to fund a portion of the acquisition .we funded the remaining purchase price with excess cash and our existing credit facilities .the term loan bears interest , at our election , at the prime rate or london interbank offered rate plus a margin based on our leverage position .as of july 1 , 2008 , the interest rate on the term loan was 3.605% ( 3.605 % ) .the term loan calls for quarterly principal payments of $ 5 million beginning with the quarter ending august 31 , 2008 and increasing to $ 10 million beginning with the quarter ending august 31 , 2010 and $ 15 million beginning with the quarter ending august 31 , 2011 .the partnership agreement includes provisions pursuant to which hsbc uk may compel us to purchase , at fair value , additional membership units from hsbc uk ( the 201cput option 201d ) .hsbc uk may exercise the put option on the fifth anniversary of the closing of the acquisition and on each anniversary thereafter .by exercising the put option , hsbc uk can require us to purchase , on an annual basis , up to 15% ( 15 % ) of the total membership units .additionally , on the tenth anniversary of closing and each tenth anniversary thereafter , hsbc uk may compel us to purchase all of their membership units at fair value .while not redeemable until june 2013 , we estimate the maximum total redemption amount of the minority interest under the put option would be $ 421.4 million , as of may 31 , 2008 .the purpose of this acquisition was to establish a presence in the united kingdom .the key factors that contributed to the decision to make this acquisition include historical and prospective financial statement analysis and hsbc uk 2019s market share and retail presence in the united kingdom .the purchase price was determined by analyzing the historical and prospective financial statements and applying relevant purchase price multiples .the purchase price totaled $ 441.1 million , consisting of $ 438.6 million cash consideration plus $ 2.5 million of direct out of pocket costs .the acquisition has been recorded using the purchase method of accounting , and , accordingly , the purchase price has been allocated to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition .the following table summarizes the preliminary purchase price allocation: .
[['', 'total'], ['goodwill', '$ 294741'], ['customer-related intangible assets', '116920'], ['contract-based intangible assets', '13437'], ['trademark', '2204'], ['property and equipment', '26955'], ['other current assets', '100'], ['total assets acquired', '454357'], ['minority interest in equity of subsidiary ( at historical cost )', '-13257 ( 13257 )'], ['net assets acquired', '$ 441100']]
due to the recent timing of the transaction , the allocation of the purchase price is preliminary .all of the goodwill associated with the acquisition is expected to be deductible for tax purposes .the customer-related intangible assets have amortization periods of up to 13 years .the contract-based intangible assets have amortization periods of 7 years .the trademark has an amortization period of 5 years. .
|
what portion of the net assets acquired is dedicated for goodwill?
|
66.8%
|
{
"answer": "66.8%",
"decimal": 0.6679999999999999,
"type": "percentage"
}
| |
item 2 .properties the table below provides a summary of our four owned containerboard mills , the principal products produced and each mill 2019s year-end 2012 annual practical maximum capacity based upon all of our paper machines 2019 production capabilities , as reported to the af&pa : location function capacity ( tons ) counce , tn .........................kraft linerboard mill 1057000 valdosta , ga .......................kraft linerboard mill 559000 tomahawk , wi ......................semi-chemical medium mill 545000 filer city , mi .......................semi-chemical medium mill 439000 .
[['location', 'function kraft linerboard mill kraft linerboard mill semi-chemical medium mill semi-chemical medium mill', 'capacity ( tons ) 1057000 559000 545000 439000'], ['counce tn', 'valdosta ga', 'tomahawk wi'], ['filer city mi', 'filer city mi', 'filer city mi'], ['total', '', '2600000']]
we currently have 71 corrugated manufacturing operations , of which 44 are owned , including 37 combining operations , or corrugated plants , and seven sheet plants .four corrugated plants and 23 sheet plants are leased .we also own one warehouse and miscellaneous other properties , including sales offices and woodlands management offices .these sales offices and woodlands management offices generally have one to four employees and serve as administrative offices .pca leases the space for regional design centers and numerous other distribution centers , warehouses and facilities .the equipment in these leased facilities is , in virtually all cases , owned by pca , except for forklifts and other rolling stock which are generally leased .we lease the cutting rights to approximately 88000 acres of timberland located near our valdosta mill ( 77000 acres ) and our counce mill ( 11000 acres ) .on average , these cutting rights agreements have terms with approximately 11 years remaining .our corporate headquarters is located in lake forest , illinois .the headquarters facility is leased for the next nine years with provisions for two additional five year lease extensions .item 3 .legal proceedings during september and october 2010 , pca and eight other u.s .and canadian containerboard producers were named as defendants in five purported class action lawsuits filed in the united states district court for the northern district of illinois , alleging violations of the sherman act .the lawsuits have been consolidated in a single complaint under the caption kleen products llc v packaging corp .of america et al .the consolidated complaint alleges that the defendants conspired to limit the supply of containerboard , and that the purpose and effect of the alleged conspiracy was to artificially increase prices of containerboard products during the period from august 2005 to the time of filing of the complaint .the complaint was filed as a purported class action suit on behalf of all purchasers of containerboard products during such period .the complaint seeks treble damages and costs , including attorney 2019s fees .the defendants 2019 motions to dismiss the complaint were denied by the court in april 2011 .pca believes the allegations are without merit and will defend this lawsuit vigorously .however , as the lawsuit is in the document production phase of discovery , pca is unable to predict the ultimate outcome or estimate a range of reasonably possible losses .pca is a party to various other legal actions arising in the ordinary course of our business .these legal actions cover a broad variety of claims spanning our entire business .as of the date of this filing , we believe it is not reasonably possible that the resolution of these legal actions will , individually or in the aggregate , have a material adverse effect on our financial condition , results of operations or cash flows .item 4 .mine safety disclosures .
|
of the 71 corrugated manufacturing operations , what percent are owned?
|
62%
|
{
"answer": "62%",
"decimal": 0.62,
"type": "percentage"
}
| |
30 2018 ppg annual report and 10-k foreign currency translation partially offset by : cost reclassifications associated with the adoption of the new revenue recognition standard .refer to note 2 , "revenue recognition" within part 2 of this form 10-k cost management including restructuring cost savings 2017 vs .2016 selling , general and administrative expenses decreased $ 1 million primarily due to : lower net periodic pension and other postretirement benefit costs lower selling and advertising costs restructuring cost savings partially offset by : wage and other cost inflation selling , general and administrative expenses from acquired businesses foreign currency translation other charges and other income .
[['( $ in millions except percentages )', '2018', '% ( % ) change 2017', '% ( % ) change 2016', '% ( % ) change 2018 vs . 2017', '% ( % ) change 2017 vs . 2016'], ['interest expense net of interest income', '$ 95', '$ 85', '$ 99', '11.8% ( 11.8 % )', '( 14.1 ) % ( % )'], ['business restructuring net', '$ 66', '$ 2014', '$ 191', 'n/a', '( 100.0 ) % ( % )'], ['pension settlement charges', '$ 2014', '$ 60', '$ 968', '( 100.0 ) % ( % )', '( 93.8 ) % ( % )'], ['other charges', '$ 122', '$ 74', '$ 242', '64.9% ( 64.9 % )', '( 69.4 ) % ( % )'], ['other income', '( $ 114 )', '( $ 150 )', '( $ 127 )', '( 24.0 ) % ( % )', '18.1% ( 18.1 % )']]
interest expense , net of interest income interest expense , net of interest income increased $ 10 million in 2018 versus 2017 primarily due to the issuance of long- term debt in early 2018 .interest expense , net of interest income decreased $ 14 million in 2017 versus 2016 due to lower interest rate debt outstanding in 2017 .business restructuring , net a pretax restructuring charge of $ 83 million was recorded in the second quarter of 2018 , offset by certain changes in estimates to complete previously recorded programs of $ 17 million .a pretax charge of $ 191 million was recorded in 2016 .refer to note 8 , "business restructuring" in item 8 of this form 10-k for additional information .pension settlement charges during 2017 , ppg made lump-sum payments to certain retirees who had participated in ppg's u.s .qualified and non- qualified pension plans totaling approximately $ 127 million .as the lump-sum payments were in excess of the expected 2017 service and interest costs for the affected plans , ppg remeasured the periodic benefit obligation of these plans in the period payments were made and recorded settlement charges totaling $ 60 million ( $ 38 million after-tax ) during 2017 .during 2016 , ppg permanently transferred approximately $ 1.8 billion of its u.s .and canadian pension obligations and assets to several highly rated insurance companies .these actions triggered remeasurement and partial settlement of certain of the company 2019s defined benefit pension plans .ppg recognized a $ 968 million pre-tax settlement charge in connection with these transactions .refer to note 13 , "employee benefit plans" in item 8 of this form 10-k for additional information .other charges other charges in 2018 and 2016 were higher than 2017 primarily due to environmental remediation charges .these charges were principally for environmental remediation at a former chromium manufacturing plant and associated sites in new jersey .refer to note 14 , "commitments and contingent liabilities" in item 8 of this form 10-k for additional information .other income other income was lower in 2018 and 2016 than in 2017 primarily due to the gain from the sale of the mexican plaka business of $ 25 million and income from a legal settlement of $ 18 million in 2017 .refer to note 3 , "acquisitions and divestitures" in item 8 of this form 10-k for additional information. .
|
what was the total pre-tax restructuring program cost in millions?
|
257
|
{
"answer": "257",
"decimal": 257,
"type": "float"
}
| |
sales of unregistered securities not applicable .repurchases of equity securities the following table provides information regarding our purchases of our equity securities during the period from october 1 , 2017 to december 31 , 2017 .total number of shares ( or units ) purchased 1 average price paid per share ( or unit ) 2 total number of shares ( or units ) purchased as part of publicly announced plans or programs 3 maximum number ( or approximate dollar value ) of shares ( or units ) that may yet be purchased under the plans or programs 3 .
[['', 'total number ofshares ( or units ) purchased1', 'average price paidper share ( or unit ) 2', 'total number ofshares ( or units ) purchased as part ofpublicly announcedplans or programs3', 'maximum number ( orapproximate dollar value ) of shares ( or units ) that may yet be purchasedunder the plans orprograms3'], ['october 1 - 31', '1231868', '$ 20.74', '1230394', '$ 214001430'], ['november 1 - 30', '1723139', '$ 18.89', '1722246', '$ 181474975'], ['december 1 - 31', '1295639', '$ 20.25', '1285000', '$ 155459545'], ['total', '4250646', '$ 19.84', '4237640', '']]
1 included shares of our common stock , par value $ 0.10 per share , withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that occurred upon vesting and release of restricted shares ( the 201cwithheld shares 201d ) .we repurchased 1474 withheld shares in october 2017 , 893 withheld shares in november 2017 and 10639 withheld shares in december 2017 , for a total of 13006 withheld shares during the three-month period .2 the average price per share for each of the months in the fiscal quarter and for the three-month period was calculated by dividing the sum of the applicable period of the aggregate value of the tax withholding obligations and the aggregate amount we paid for shares acquired under our share repurchase program , described in note 5 to the consolidated financial statements , by the sum of the number of withheld shares and the number of shares acquired in our share repurchase program .3 in february 2017 , the board authorized a share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock ( the 201c2017 share repurchase program 201d ) .on february 14 , 2018 , we announced that our board had approved a new share repurchase program to repurchase from time to time up to $ 300.0 million , excluding fees , of our common stock .the new authorization is in addition to any amounts remaining for repurchase under the 2017 share repurchase program .there is no expiration date associated with the share repurchase programs. .
|
what is the monthly average of withheld shares from october to december 2017?
|
4335.3
|
{
"answer": "4335.3",
"decimal": 4335.3,
"type": "float"
}
| |
a black-scholes option-pricing model was used for purposes of estimating the fair value of state street 2019s employee stock options at the grant date .the following were the weighted average assumptions for the years ended december 31 , 2001 , 2000 and 1999 , respectively : risk-free interest rates of 3.99% ( 3.99 % ) , 5.75% ( 5.75 % ) and 5.90% ( 5.90 % ) ; dividend yields of 1.08% ( 1.08 % ) , .73% ( .73 % ) and .92% ( .92 % ) ; and volatility factors of the expected market price of state street common stock of .30 , .30 and .30 .the estimated weighted average life of the stock options granted was 4.1 years for the years ended december 31 , 2001 , 2000 and 1999 .o t h e r u n r e a l i z e d c o m p r e h e n s i v e i n c o m e ( l o s s ) at december 31 , the components of other unrealized comprehensive income ( loss ) , net of related taxes , were as follows: .
[['( dollars in millions )', '2001', '2000'], ['unrealized gain on available-for-sale securities', '$ 96', '$ 19'], ['foreign currency translation', '-27 ( 27 )', '-20 ( 20 )'], ['other', '1', ''], ['total', '$ 70', '$ -1 ( 1 )']]
note j shareholders 2019 rights plan in 1988 , state street declared a dividend of one preferred share purchase right for each outstanding share of common stock .in 1998 , the rights agreement was amended and restated , and in 2001 , the rights plan was impacted by the 2-for-1 stock split .accordingly , a right may be exercised , under certain conditions , to purchase one eight-hundredths share of a series of participating preferred stock at an exercise price of $ 132.50 , subject to adjustment .the rights become exercisable if a party acquires or obtains the right to acquire 10% ( 10 % ) or more of state street 2019s common stock or after commencement or public announcement of an offer for 10% ( 10 % ) or more of state street 2019s common stock .when exercisable , under certain conditions , each right entitles the holder thereof to purchase shares of common stock , of either state street or of the acquirer , having a market value of two times the then-current exercise price of that right .the rights expire in september 2008 , and may be redeemed at a price of $ .00125 per right , subject to adjustment , at any time prior to expiration or the acquisition of 10% ( 10 % ) of state street 2019s common stock .under certain circumstances , the rights may be redeemed after they become exercisable and may be subject to automatic redemption .note k regulatory matters r e g u l a t o r y c a p i t a l state street is subject to various regulatory capital requirements administered by federal banking agencies .failure to meet minimum capital requirements can initiate certain mandatory and discretionary actions by regulators that , if undertaken , could have a direct material effect on state street 2019s financial condition .under capital adequacy guidelines , state street must meet specific capital guidelines that involve quantitative measures of state street 2019s assets , liabilities and off-balance sheet items as calculated under regulatory accounting practices .state street 2019s capital amounts and classification are subject to qualitative judgments by the regulators about components , risk weightings and other factors .42 state street corporation .
|
in 2001 , what percent of gains were lost in foreign currency translation
|
27.84%
|
{
"answer": "27.84%",
"decimal": 0.2784,
"type": "percentage"
}
| |
leased real property in september 2002 , we completed a sale/leaseback transaction for our 200000 square foot headquarters and manufacturing facility located in bedford , massachusetts and our 62500 square foot lorad manufacturing facility in danbury , connecticut .the lease for these facilities , including the associated land , has a term of 20 years , with four-five year renewal options .we sublease approximately 10000 square feet of the bedford facility to a subtenant , cmp media , under a lease which expires in may 2006 .we also sublease approximately 11000 square feet of the bedford facility to a subtenant , genesys conferencing , under a lease which expires in february we lease a 60000 square feet of office and manufacturing space in danbury , connecticut near our lorad manufacturing facility .this lease expires in december 2012 .we also lease a sales and service office in belgium .item 3 .legal proceedings .in march 2005 , we were served with a complaint filed on november 12 , 2004 by oleg sokolov with the united states district court for the district of connecticut alleging that our htc 2122 grid infringes u.s .patent number 5970118 .the plaintiff is seeking to preliminarily and permanently enjoin us from infringing the patent , as well as damages resulting from the alleged infringement , treble damages and reasonable attorney fees , and such other and further relief as may be available .on april 25 , 2005 , we filed an answer and counterclaims in response to the complaint in which we denied the plaintiff 2019s allegations and , among other things , sought declaratory relief with respect to the patent claims and damages , as well as other relief .on october 28 , 1998 , the plaintiff had previously sued lorad , asserting , among other things , that lorad had misappropriated the plaintiff 2019s trade secrets relating to the htc grid .this previous case was dismissed on august 28 , 2000 .the dismissal was affirmed by the appellate court of the state of connecticut , and the united states supreme court refused to grant certiorari .we do not believe that we infringe any valid or enforceable patents of the plaintiff .however , while we intend to vigorously defend our interests , ongoing litigation can be costly and time consuming , and we cannot guarantee that we will prevail .item 4 .submission of matters to a vote of security holders .at a special meeting of stockholders held november 15 , 2005 , our stockholders approved a proposal to amend our certificate of incorporation to increase the number of shares of common stock the company has authority to issue from 30 million to 90 million .the voting results for the proposal , not adjusted for the effect of the stock split , were as follows: .
[['for', 'against', 'abstained', 'broker non-votes'], ['17695228', '963202', '155213', '0']]
as a result of the amendment , the previously announced two-for-one stock split to be effected as a stock dividend , was paid on november 30 , 2005 to stockholders of record on november 16 , 2005. .
|
what portion of the votes support the proposal?
|
94.1%
|
{
"answer": "94.1%",
"decimal": 0.941,
"type": "percentage"
}
| |
6feb201418202649 performance graph the table below compares the cumulative total shareholder return on our common stock with the cumulative total return of ( i ) the standard & poor 2019s 500 composite stock index ( 2018 2018s&p 500 index 2019 2019 ) , ( ii ) the standard & poor 2019s industrials index ( 2018 2018s&p industrials index 2019 2019 ) and ( iii ) the standard & poor 2019s consumer durables & apparel index ( 2018 2018s&p consumer durables & apparel index 2019 2019 ) , from december 31 , 2008 through december 31 , 2013 , when the closing price of our common stock was $ 22.77 .the graph assumes investments of $ 100 on december 31 , 2008 in our common stock and in each of the three indices and the reinvestment of dividends .$ 350.00 $ 300.00 $ 250.00 $ 200.00 $ 150.00 $ 100.00 $ 50.00 performance graph .
[['', '2009', '2010', '2011', '2012', '2013'], ['masco', '$ 128.21', '$ 120.32', '$ 102.45', '$ 165.80', '$ 229.59'], ['s&p 500 index', '$ 125.92', '$ 144.58', '$ 147.60', '$ 171.04', '$ 225.85'], ['s&p industrials index', '$ 120.19', '$ 151.89', '$ 150.97', '$ 173.87', '$ 243.73'], ['s&p consumer durables & apparel index', '$ 136.29', '$ 177.91', '$ 191.64', '$ 232.84', '$ 316.28']]
in july 2007 , our board of directors authorized the purchase of up to 50 million shares of our common stock in open-market transactions or otherwise .at december 31 , 2013 , we had remaining authorization to repurchase up to 22.6 million shares .during the first quarter of 2013 , we repurchased and retired 1.7 million shares of our common stock , for cash aggregating $ 35 million to offset the dilutive impact of the 2013 grant of 1.7 million shares of long-term stock awards .we have not purchased any shares since march 2013. .
|
what was the percent of the increase in the performance of s&p 500 index from 2009 to 2010
|
14.82%
|
{
"answer": "14.82%",
"decimal": 0.1482,
"type": "percentage"
}
|
the performance of s&p 500 index increased by 14.92% from 2009 to 2010
|
on-balance sheet securitizations the company engages in on-balance sheet securitizations .these are securitizations that do not qualify for sales treatment ; thus , the assets remain on the company 2019s balance sheet .the following table presents the carrying amounts and classification of consolidated assets and liabilities transferred in transactions from the consumer credit card , student loan , mortgage and auto businesses , accounted for as secured borrowings : in billions of dollars december 31 , december 31 .
[['in billions of dollars', 'december 31 2008', 'december 31 2007'], ['cash', '$ 0.3', '$ 0.1'], ['available-for-sale securities', '0.1', '0.2'], ['loans', '7.5', '7.4'], ['allowance for loan losses', '-0.1 ( 0.1 )', '-0.1 ( 0.1 )'], ['total assets', '$ 7.8', '$ 7.6'], ['long-term debt', '$ 6.3', '$ 5.8'], ['other liabilities', '0.3', '0.4'], ['total liabilities', '$ 6.6', '$ 6.2']]
all assets are restricted from being sold or pledged as collateral .the cash flows from these assets are the only source used to pay down the associated liabilities , which are non-recourse to the company 2019s general assets .citi-administered asset-backed commercial paper conduits the company is active in the asset-backed commercial paper conduit business as administrator of several multi-seller commercial paper conduits , and also as a service provider to single-seller and other commercial paper conduits sponsored by third parties .the multi-seller commercial paper conduits are designed to provide the company 2019s customers access to low-cost funding in the commercial paper markets .the conduits purchase assets from or provide financing facilities to customers and are funded by issuing commercial paper to third-party investors .the conduits generally do not purchase assets originated by the company .the funding of the conduit is facilitated by the liquidity support and credit enhancements provided by the company and by certain third parties .as administrator to the conduits , the company is responsible for selecting and structuring of assets purchased or financed by the conduits , making decisions regarding the funding of the conduits , including determining the tenor and other features of the commercial paper issued , monitoring the quality and performance of the conduits 2019 assets , and facilitating the operations and cash flows of the conduits .in return , the company earns structuring fees from clients for individual transactions and earns an administration fee from the conduit , which is equal to the income from client program and liquidity fees of the conduit after payment of interest costs and other fees .this administration fee is fairly stable , since most risks and rewards of the underlying assets are passed back to the customers and , once the asset pricing is negotiated , most ongoing income , costs and fees are relatively stable as a percentage of the conduit 2019s size .the conduits administered by the company do not generally invest in liquid securities that are formally rated by third parties .the assets are privately negotiated and structured transactions that are designed to be held by the conduit , rather than actively traded and sold .the yield earned by the conduit on each asset is generally tied to the rate on the commercial paper issued by the conduit , thus passing interest rate risk to the client .each asset purchased by the conduit is structured with transaction-specific credit enhancement features provided by the third-party seller , including over- collateralization , cash and excess spread collateral accounts , direct recourse or third-party guarantees .these credit enhancements are sized with the objective of approximating a credit rating of a or above , based on the company 2019s internal risk ratings .substantially all of the funding of the conduits is in the form of short- term commercial paper .as of december 31 , 2008 , the weighted average life of the commercial paper issued was approximately 37 days .in addition , the conduits have issued subordinate loss notes and equity with a notional amount of approximately $ 80 million and varying remaining tenors ranging from six months to seven years .the primary credit enhancement provided to the conduit investors is in the form of transaction-specific credit enhancement described above .in addition , there are two additional forms of credit enhancement that protect the commercial paper investors from defaulting assets .first , the subordinate loss notes issued by each conduit absorb any credit losses up to their full notional amount .it is expected that the subordinate loss notes issued by each conduit are sufficient to absorb a majority of the expected losses from each conduit , thereby making the single investor in the subordinate loss note the primary beneficiary under fin 46 ( r ) .second , each conduit has obtained a letter of credit from the company , which is generally 8-10% ( 8-10 % ) of the conduit 2019s assets .the letters of credit provided by the company total approximately $ 5.8 billion and are included in the company 2019s maximum exposure to loss .the net result across all multi-seller conduits administered by the company is that , in the event of defaulted assets in excess of the transaction-specific credit enhancement described above , any losses in each conduit are allocated in the following order : 2022 subordinate loss note holders 2022 the company 2022 the commercial paper investors the company , along with third parties , also provides the conduits with two forms of liquidity agreements that are used to provide funding to the conduits in the event of a market disruption , among other events .each asset of the conduit is supported by a transaction-specific liquidity facility in the form of an asset purchase agreement ( apa ) .under the apa , the company has agreed to purchase non-defaulted eligible receivables from the conduit at par .any assets purchased under the apa are subject to increased pricing .the apa is not designed to provide credit support to the conduit , as it generally does not permit the purchase of defaulted or impaired assets and generally reprices the assets purchased to consider potential increased credit risk .the apa covers all assets in the conduits and is considered in the company 2019s maximum exposure to loss .in addition , the company provides the conduits with program-wide liquidity in the form of short-term lending commitments .under these commitments , the company has agreed to lend to the conduits in the event of a short-term disruption in the commercial paper market , subject to specified conditions .the total notional exposure under the program-wide liquidity agreement is $ 11.3 billion and is considered in the company 2019s maximum exposure to loss .the company receives fees for providing both types of liquidity agreement and considers these fees to be on fair market terms. .
|
what was the change in billions of the cash between 2007 and 2008?
|
.2
|
{
"answer": ".2",
"decimal": 0.2,
"type": "float"
}
| |
2006 plan prior to december 5 , 2008 became fully vested and nonforfeitable upon the closing of the acquisition .awards may be granted under the 2006 plan , as amended and restated , after december 5 , 2008 only to employees and consultants of allied waste industries , inc .and its subsidiaries who were not employed by republic services , inc .prior to such date .at december 31 , 2010 , there were approximately 15.3 million shares of common stock reserved for future grants under the 2006 plan .stock options we use a 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 and expected life of the options .when appropriate , separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes .the weighted-average estimated fair values of stock options granted during the years ended december 31 , 2010 , 2009 and 2008 were $ 5.28 , $ 3.79 and $ 4.36 per option , respectively , which were calculated using the following weighted-average assumptions: .
[['', '2010', '2009', '2008'], ['expected volatility', '28.6% ( 28.6 % )', '28.7% ( 28.7 % )', '27.3% ( 27.3 % )'], ['risk-free interest rate', '2.4% ( 2.4 % )', '1.4% ( 1.4 % )', '1.7% ( 1.7 % )'], ['dividend yield', '2.9% ( 2.9 % )', '3.1% ( 3.1 % )', '2.9% ( 2.9 % )'], ['expected life ( in years )', '4.3', '4.2', '4.2'], ['contractual life ( in years )', '7', '7', '7'], ['expected forfeiture rate', '3.0% ( 3.0 % )', '3.0% ( 3.0 % )', '3.0% ( 3.0 % )']]
republic services , inc .notes to consolidated financial statements , continued .
|
what was the percentage growth in the weighted-average estimated fair values of stock options granted from 2009 to 2010
|
39.3%
|
{
"answer": "39.3%",
"decimal": 0.39299999999999996,
"type": "percentage"
}
|
the weighted-average estimated fair values of stock options granted from 2009 to 2010 increased by 39.3%
|
the changes in the gross amount of unrecognized tax benefits for the year ended december 29 , 2007 are as follows: .
[['', '( in thousands )'], ['balance as of december 31 2006', '$ 337226'], ['gross amount of the decreases in unrecognized tax benefits of tax positions taken during a prior year', '-31608 ( 31608 )'], ['gross amount of the increases in unrecognized tax benefits as a result of tax positions taken during the current year', '7764'], ['amount of decreases in unrecognized tax benefits relating to settlements with taxing authorities', '-6001 ( 6001 )'], ['reductions to unrecognized tax benefits resulting from the lapse of the applicable statute of limitations', '-511 ( 511 )'], ['balance as of december 29 2007', '$ 306870']]
as of december 29 , 2007 , $ 228.4 million of unrecognized tax benefits would , if recognized , reduce the effective tax rate , as compared to $ 232.1 million as of december 31 , 2006 , the first day of cadence 2019s fiscal year .the total amounts of interest and penalties recognized in the consolidated income statement for the year ended december 29 , 2007 resulted in net tax benefits of $ 11.1 million and $ 0.4 million , respectively , primarily due to the effective settlement of tax audits during the year .the total amounts of gross accrued interest and penalties recognized in the consolidated balance sheets as of december 29 , 2007 , were $ 47.9 million and $ 9.7 million , respectively as compared to $ 65.8 million and $ 10.1 million , respectively as of december 31 , 2006 .note 9 .acquisitions for each of the acquisitions described below , the results of operations and the estimated fair value of the assets acquired and liabilities assumed have been included in cadence 2019s consolidated financial statements from the date of the acquisition .comparative pro forma financial information for all 2007 , 2006 and 2005 acquisitions have not been presented because the results of operations were not material to cadence 2019s consolidated financial statements .2007 acquisitions during 2007 , cadence acquired invarium , inc. , a san jose-based developer of advanced lithography-modeling and pattern-synthesis technology , and clear shape technologies , inc. , a san jose-based design for manufacturing technology company specializing in design-side solutions to minimize yield loss for advanced semiconductor integrated circuits .cadence acquired these two companies for an aggregate purchase price of $ 75.5 million , which included the payment of cash , the fair value of assumed options and acquisition costs .the $ 45.7 million of goodwill recorded in connection with these acquisitions is not expected to be deductible for income tax purposes .prior to acquiring clear shape technologies , inc. , cadence had an investment of $ 2.0 million in the company , representing a 12% ( 12 % ) ownership interest , which had been accounted for under the cost method of accounting .in accordance with sfas no .141 , 201cbusiness combinations , 201d cadence accounted for this acquisition as a step acquisition .subsequent adjustments to the purchase price of these acquired companies are included in the 201cother 201d line of the changes of goodwill table in note 10 below .2006 acquisition in march 2006 , cadence acquired a company for an aggregate initial purchase price of $ 25.8 million , which included the payment of cash , the fair value of assumed options and acquisition costs .the preliminary allocation of the purchase price was recorded as $ 17.4 million of goodwill , $ 9.4 million of identifiable intangible assets and $ ( 1.0 ) million of net liabilities .the $ 17.4 million of goodwill recorded in connection with this acquisition is not expected to be deductible for income tax purposes .subsequent adjustments to the purchase price of this acquired company are included in the 201cother 201d line of the changes of goodwill table in note 10 below. .
|
what is the percentage change in the gross amount of unrecognized tax benefit during 2007?
|
-9.0%
|
{
"answer": "-9.0%",
"decimal": -0.09,
"type": "percentage"
}
| |
condition are valued using a monte carlo model .expected volatility is based on historical volatilities of traded common stock of the company and comparative companies using daily stock prices over the past three years .the expected term is three years and the risk-free interest rate is based on the three-year u.s .treasury rate in effect as of the measurement date .the following table provides the weighted average assumptions used in the monte carlo simulation and the weighted average grant date fair values of psus granted for the years ended december 31: .
[['', '2018', '2017', '2016'], ['expected volatility', '17.23% ( 17.23 % )', '17.40% ( 17.40 % )', '15.90% ( 15.90 % )'], ['risk-free interest rate', '2.36% ( 2.36 % )', '1.53% ( 1.53 % )', '0.91% ( 0.91 % )'], ['expected life ( years )', '3.0', '3.0', '3.0'], ['grant date fair value per share', '$ 73.62', '$ 72.81', '$ 77.16']]
the grant date fair value of psus that vest ratably and have market and/or performance conditions are amortized through expense over the requisite service period using the graded-vesting method .if dividends are paid with respect to shares of the company 2019s common stock before the rsus and psus are distributed , the company credits a liability for the value of the dividends that would have been paid if the rsus and psus were shares of company common stock .when the rsus and psus are distributed , the company pays the participant a lump sum cash payment equal to the value of the dividend equivalents accrued .the company accrued dividend equivalents totaling $ 1 million , less than $ 1 million and $ 1 million to accumulated deficit in the accompanying consolidated statements of changes in shareholders 2019 equity for the years ended december 31 , 2018 , 2017 and 2016 , respectively .employee stock purchase plan the company maintains a nonqualified employee stock purchase plan ( the 201cespp 201d ) through which employee participants may use payroll deductions to acquire company common stock at a discount .prior to february 5 , 2019 , the purchase price of common stock acquired under the espp was the lesser of 90% ( 90 % ) of the fair market value of the common stock at either the beginning or the end of a three -month purchase period .on july 27 , 2018 , the espp was amended , effective february 5 , 2019 , to permit employee participants to acquire company common stock at 85% ( 85 % ) of the fair market value of the common stock at the end of the purchase period .as of december 31 , 2018 , there were 1.9 million shares of common stock reserved for issuance under the espp .the espp is considered compensatory .during the years ended december 31 , 2018 , 2017 and 2016 , the company issued 95 thousand , 93 thousand and 93 thousand shares , respectively , under the espp. .
|
what was the purchase price of common stock acquired under the espp in 2018?
|
66.26
|
{
"answer": "66.26",
"decimal": 66.26,
"type": "float"
}
| |
table of contents ended december 31 , 2015 and 2014 , respectively .the increase in cash provided by accounts payable-inventory financing was primarily due to a new vendor added to our previously existing inventory financing agreement .for a description of the inventory financing transactions impacting each period , see note 6 ( inventory financing agreements ) to the accompanying consolidated financial statements .for a description of the debt transactions impacting each period , see note 8 ( long-term debt ) to the accompanying consolidated financial statements .net cash used in financing activities decreased $ 56.3 million in 2014 compared to 2013 .the decrease was primarily driven by several debt refinancing transactions during each period and our july 2013 ipo , which generated net proceeds of $ 424.7 million after deducting underwriting discounts , expenses and transaction costs .the net impact of our debt transactions resulted in cash outflows of $ 145.9 million and $ 518.3 million during 2014 and 2013 , respectively , as cash was used in each period to reduce our total long-term debt .for a description of the debt transactions impacting each period , see note 8 ( long-term debt ) to the accompanying consolidated financial statements .long-term debt and financing arrangements as of december 31 , 2015 , we had total indebtedness of $ 3.3 billion , of which $ 1.6 billion was secured indebtedness .at december 31 , 2015 , we were in compliance with the covenants under our various credit agreements and indentures .the amount of cdw 2019s restricted payment capacity under the senior secured term loan facility was $ 679.7 million at december 31 , 2015 .for further details regarding our debt and each of the transactions described below , see note 8 ( long-term debt ) to the accompanying consolidated financial statements .during the year ended december 31 , 2015 , the following events occurred with respect to our debt structure : 2022 on august 1 , 2015 , we consolidated kelway 2019s term loan and kelway 2019s revolving credit facility .kelway 2019s term loan is denominated in british pounds .the kelway revolving credit facility is a multi-currency revolving credit facility under which kelway is permitted to borrow an aggregate amount of a350.0 million ( $ 73.7 million ) as of december 31 , 2015 .2022 on march 3 , 2015 , we completed the issuance of $ 525.0 million principal amount of 5.0% ( 5.0 % ) senior notes due 2023 which will mature on september 1 , 2023 .2022 on march 3 , 2015 , we redeemed the remaining $ 503.9 million aggregate principal amount of the 8.5% ( 8.5 % ) senior notes due 2019 , plus accrued and unpaid interest through the date of redemption , april 2 , 2015 .inventory financing agreements we have entered into agreements with certain financial intermediaries to facilitate the purchase of inventory from various suppliers under certain terms and conditions .these amounts are classified separately as accounts payable-inventory financing on the consolidated balance sheets .we do not incur any interest expense associated with these agreements as balances are paid when they are due .for further details , see note 6 ( inventory financing agreements ) to the accompanying consolidated financial statements .contractual obligations we have future obligations under various contracts relating to debt and interest payments , operating leases and asset retirement obligations .our estimated future payments , based on undiscounted amounts , under contractual obligations that existed as of december 31 , 2015 , are as follows: .
[['( in millions )', 'payments due by period total', 'payments due by period < 1 year', 'payments due by period 1-3 years', 'payments due by period 4-5 years', 'payments due by period > 5 years'], ['term loan ( 1 )', '$ 1703.4', '$ 63.9', '$ 126.3', '$ 1513.2', '$ 2014'], ['kelway term loan ( 1 )', '90.9', '13.5', '77.4', '2014', '2014'], ['senior notes due 2022 ( 2 )', '852.0', '36.0', '72.0', '72.0', '672.0'], ['senior notes due 2023 ( 2 )', '735.1', '26.3', '52.5', '52.5', '603.8'], ['senior notes due 2024 ( 2 )', '859.7', '31.6', '63.3', '63.3', '701.5'], ['operating leases ( 3 )', '143.2', '22.5', '41.7', '37.1', '41.9'], ['asset retirement obligations ( 4 )', '1.8', '0.8', '0.5', '0.3', '0.2'], ['total', '$ 4386.1', '$ 194.6', '$ 433.7', '$ 1738.4', '$ 2019.4']]
.
|
what was the difference in principal amount of senior notes due 2022 compared to senior notes due 2023 , in millions?
|
116.9
|
{
"answer": "116.9",
"decimal": 116.9,
"type": "float"
}
| |
year ended december 31 , 2010 compared to year ended december 31 , 2009 net revenues increased $ 207.5 million , or 24.2% ( 24.2 % ) , to $ 1063.9 million in 2010 from $ 856.4 million in 2009 .net revenues by product category are summarized below: .
[['( in thousands )', 'year ended december 31 , 2010', 'year ended december 31 , 2009', 'year ended december 31 , $ change', 'year ended december 31 , % ( % ) change'], ['apparel', '$ 853493', '$ 651779', '$ 201714', '30.9% ( 30.9 % )'], ['footwear', '127175', '136224', '-9049 ( 9049 )', '-6.6 ( 6.6 )'], ['accessories', '43882', '35077', '8805', '25.1'], ['total net sales', '1024550', '823080', '201470', '24.5'], ['license revenues', '39377', '33331', '6046', '18.1'], ['total net revenues', '$ 1063927', '$ 856411', '$ 207516', '24.2% ( 24.2 % )']]
net sales increased $ 201.5 million , or 24.5% ( 24.5 % ) , to $ 1024.6 million in 2010 from $ 823.1 million in 2009 as noted in the table above .the increase in net sales primarily reflects : 2022 $ 88.9 million , or 56.8% ( 56.8 % ) , increase in direct to consumer sales , which includes 19 additional stores in 2010 ; and 2022 unit growth driven by increased distribution and new offerings in multiple product categories , most significantly in our training , base layer , mountain , golf and underwear categories ; partially offset by 2022 $ 9.0 million decrease in footwear sales driven primarily by a decline in running and training footwear sales .license revenues increased $ 6.1 million , or 18.1% ( 18.1 % ) , to $ 39.4 million in 2010 from $ 33.3 million in 2009 .this increase in license revenues was primarily a result of increased sales by our licensees due to increased distribution and continued unit volume growth .we have developed our own headwear and bags , and beginning in 2011 , these products are being sold by us rather than by one of our licensees .gross profit increased $ 120.4 million to $ 530.5 million in 2010 from $ 410.1 million in 2009 .gross profit as a percentage of net revenues , or gross margin , increased 200 basis points to 49.9% ( 49.9 % ) in 2010 compared to 47.9% ( 47.9 % ) in 2009 .the increase in gross margin percentage was primarily driven by the following : 2022 approximate 100 basis point increase driven by increased direct to consumer higher margin sales ; 2022 approximate 50 basis point increase driven by decreased sales markdowns and returns , primarily due to improved sell-through rates at retail ; and 2022 approximate 50 basis point increase driven primarily by liquidation sales and related inventory reserve reversals .the current year period benefited from reversals of inventory reserves established in the prior year relative to certain cleated footwear , sport specific apparel and gloves .these products have historically been more difficult to liquidate at favorable prices .selling , general and administrative expenses increased $ 93.3 million to $ 418.2 million in 2010 from $ 324.9 million in 2009 .as a percentage of net revenues , selling , general and administrative expenses increased to 39.3% ( 39.3 % ) in 2010 from 37.9% ( 37.9 % ) in 2009 .these changes were primarily attributable to the following : 2022 marketing costs increased $ 19.3 million to $ 128.2 million in 2010 from $ 108.9 million in 2009 primarily due to an increase in sponsorship of events and collegiate and professional teams and athletes , increased television and digital campaign costs , including media campaigns for specific customers and additional personnel costs .in addition , we incurred increased expenses for our performance incentive plan as compared to the prior year .as a percentage of net revenues , marketing costs decreased to 12.0% ( 12.0 % ) in 2010 from 12.7% ( 12.7 % ) in 2009 primarily due to decreased marketing costs for specific customers. .
|
what was the percentage change in the gross profit from 2009 to 2010 \\n
|
341%
|
{
"answer": "341%",
"decimal": 3.41,
"type": "percentage"
}
| |
part i item 1 entergy corporation , domestic utility companies , and system energy employment litigation ( entergy corporation , entergy arkansas , entergy gulf states , entergy louisiana , entergy mississippi , entergy new orleans , and system energy ) entergy corporation and the domestic utility companies are defendants in numerous lawsuits that have been filed by former employees alleging that they were wrongfully terminated and/or discriminated against on the basis of age , race , sex , and/or other protected characteristics .entergy corporation and the domestic utility companies are vigorously defending these suits and deny any liability to the plaintiffs .however , no assurance can be given as to the outcome of these cases , and at this time management cannot estimate the total amount of damages sought .included in the employment litigation are two cases filed in state court in claiborne county , mississippi in december 2002 .the two cases were filed by former employees of entergy operations who were based at grand gulf .entergy operations and entergy employees are named as defendants .the cases make employment-related claims , and seek in total $ 53 million in alleged actual damages and $ 168 million in punitive damages .entergy subsequently removed both proceedings to the federal district in jackson , mississippi .entergy cannot predict the ultimate outcome of this proceeding .research spending entergy is a member of the electric power research institute ( epri ) .epri conducts a broad range of research in major technical fields related to the electric utility industry .entergy participates in various epri projects based on entergy's needs and available resources .the domestic utility companies contributed $ 1.6 million in 2004 , $ 1.5 million in 2003 , and $ 2.1 million in 2002 to epri .the non-utility nuclear business contributed $ 3.2 million in 2004 and $ 3 million in both 2003 and 2002 to epri .employees employees are an integral part of entergy's commitment to serving its customers .as of december 31 , 2004 , entergy employed 14425 people .u.s .utility: .
[['entergy arkansas', '1494'], ['entergy gulf states', '1641'], ['entergy louisiana', '943'], ['entergy mississippi', '793'], ['entergy new orleans', '403'], ['system energy', '-'], ['entergy operations', '2735'], ['entergy services', '2704'], ['entergy nuclear operations', '3245'], ['other subsidiaries', '277'], ['total full-time', '14235'], ['part-time', '190'], ['total entergy', '14425']]
approximately 4900 employees are represented by the international brotherhood of electrical workers union , the utility workers union of america , and the international brotherhood of teamsters union. .
|
what percent of total full-time employees are in entergy nuclear operations?
|
23%
|
{
"answer": "23%",
"decimal": 0.23,
"type": "percentage"
}
| |
supplies .expenses for purchased services increased 10% ( 10 % ) compared to 2012 due to logistics management fees , an increase in locomotive overhauls and repairs on jointly owned property .expenses for contract services increased $ 103 million in 2012 versus 2011 , primarily due to increased demand for transportation services purchased by our logistics subsidiaries for their customers and additional costs for repair and maintenance of locomotives and freight cars .depreciation 2013 the majority of depreciation relates to road property , including rail , ties , ballast , and other track material .depreciation was up 1% ( 1 % ) compared to 2012 .recent depreciation studies allowed us to use longer estimated service lives for certain equipment , which partially offset the impact of a higher depreciable asset base resulting from larger capital spending in recent years .a higher depreciable asset base , reflecting ongoing capital spending , increased depreciation expense in 2012 compared to 2011 .equipment and other rents 2013 equipment and other rents expense primarily includes rental expense that the railroad pays for freight cars owned by other railroads or private companies ; freight car , intermodal , and locomotive leases ; and office and other rent expenses .additional container costs resulting from the logistics management arrangement , and increased automotive shipments , partially offset by lower cycle times drove a $ 51 million increase in our short-term freight car rental expense versus 2012 .conversely , lower locomotive and freight car lease expenses partially offset the higher freight car rental expense .increased automotive and intermodal shipments , partially offset by improved car-cycle times , drove an increase in our short-term freight car rental expense in 2012 compared to 2011 .conversely , lower locomotive lease expense partially offset the higher freight car rental expense .other 2013 other expenses include state and local taxes , freight , equipment and property damage , utilities , insurance , personal injury , environmental , employee travel , telephone and cellular , computer software , bad debt , and other general expenses .higher property taxes and costs associated with damaged freight and property increased other costs in 2013 compared to 2012 .continued improvement in our safety performance and lower estimated liability for personal injury , which reduced our personal injury expense year-over-year , partially offset increases in other costs .other costs in 2012 were slightly higher than 2011 primarily due to higher property taxes .despite continual improvement in our safety experience and lower estimated annual costs , personal injury expense increased in 2012 compared to 2011 , as the liability reduction resulting from historical claim experience was less than the reduction in 2011 .non-operating items millions 2013 2012 2011 % ( % ) change 2013 v 2012 % ( % ) change 2012 v 2011 .
[['millions', '2013', '2012', '2011', '% ( % ) change 2013 v 2012', '% ( % ) change 2012 v 2011'], ['other income', '$ 128', '$ 108', '$ 112', '19 % ( % )', '( 4 ) % ( % )'], ['interest expense', '-526 ( 526 )', '-535 ( 535 )', '-572 ( 572 )', '-2 ( 2 )', '-6 ( 6 )'], ['income taxes', '-2660 ( 2660 )', '-2375 ( 2375 )', '-1972 ( 1972 )', '12 % ( % )', '20 % ( % )']]
other income 2013 other income increased in 2013 versus 2012 due to higher gains from real estate sales and increased lease income , including the favorable impact from the $ 17 million settlement of a land lease contract .these increases were partially offset by interest received from a tax refund in 2012 .other income decreased in 2012 versus 2011 due to lower gains from real estate sales and higher environmental costs associated with non-operating properties , partially offset by interest received from a tax refund .interest expense 2013 interest expense decreased in 2013 versus 2012 due to a lower effective interest rate of 5.7% ( 5.7 % ) in 2013 versus 6.0% ( 6.0 % ) in 2012 .the increase in the weighted-average debt level to $ 9.6 billion in 2013 from $ 9.1 billion in 2012 partially offset the impact of the lower effective interest rate .interest expense decreased in 2012 versus 2011 reflecting a lower effective interest rate in 2012 of 6.0% ( 6.0 % ) versus 6.2% ( 6.2 % ) in 2011 as the debt level did not materially change from 2011 to 2012. .
|
what was the average other income from 2011 to 2013
|
116
|
{
"answer": "116",
"decimal": 116,
"type": "float"
}
|
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