Context
stringlengths 523
16k
| Question
stringlengths 26
367
| Answer
stringlengths 1
335
| Ground_truths
dict | Explanation
stringclasses 898
values |
|---|---|---|---|---|
holders of grupo gondi manage the joint venture and we provide technical and commercial resources .we believe the joint venture is helping us to grow our presence in the attractive mexican market .we have included the financial results of the joint venture in our corrugated packaging segment since the date of formation .we are accounting for the investment on the equity method .on january 19 , 2016 , we completed the packaging acquisition .the entities acquired provide value-added folding carton and litho-laminated display packaging solutions .we believe the transaction has provided us with attractive and complementary customers , markets and facilities .we have included the financial results of the acquired entities in our consumer packaging segment since the date of the acquisition .on october 1 , 2015 , we completed the sp fiber acquisition .the transaction included the acquisition of mills located in dublin , ga and newberg , or , which produce lightweight recycled containerboard and kraft and bag paper .the newberg mill also produced newsprint .as part of the transaction , we also acquired sp fiber's 48% ( 48 % ) interest in green power solutions of georgia , llc ( fffdgps fffd ) , which we consolidate .gps is a joint venture providing steam to the dublin mill and electricity to georgia power .subsequent to the transaction , we announced the permanent closure of the newberg mill due to the decline in market conditions of the newsprint business and our need to balance supply and demand in our containerboard system .we have included the financial results of the acquired entities in our corrugated packaging segment since the date of the acquisition .see fffdnote 2 .mergers , acquisitions and investment fffdtt of the notes to consolidated financial statements for additional information .see also item 1a .fffdrisk factors fffd fffdwe may be unsuccessful in making and integrating mergers , acquisitions and investments and completing divestitures fffd .business .
[['( in millions )', 'year ended september 30 , 2018', 'year ended september 30 , 2017', 'year ended september 30 , 2016'], ['net sales', '$ 16285.1', '$ 14859.7', '$ 14171.8'], ['segment income', '$ 1685.0', '$ 1193.5', '$ 1226.2']]
in fiscal 2018 , we continued to pursue our strategy of offering differentiated paper and packaging solutions that help our customers win .we successfully executed this strategy in fiscal 2018 in a rapidly changing cost and price environment .net sales of $ 16285.1 million for fiscal 2018 increased $ 1425.4 million , or 9.6% ( 9.6 % ) , compared to fiscal 2017 .the increase was primarily a result of an increase in corrugated packaging segment sales , driven by higher selling price/mix and the contributions from acquisitions , and increased consumer packaging segment sales , primarily due to the contribution from acquisitions ( primarily the mps acquisition ) .these increases were partially offset by the absence of net sales from hh&b in fiscal 2018 due to the sale of hh&b in april 2017 and lower land and development segment sales compared to the prior year period due to the timing of real estate sales as we monetize the portfolio and lower merchandising display sales in the consumer packaging segment .segment income increased $ 491.5 million in fiscal 2018 compared to fiscal 2017 , primarily due to increased corrugated packaging segment income .with respect to segment income , we experienced higher levels of cost inflation during fiscal 2018 as compared to fiscal 2017 , which was partially offset by recycled fiber deflation .the primary inflationary items were freight costs , chemical costs , virgin fiber costs and wage and other costs .productivity improvements in fiscal 2018 more than offset the net impact of cost inflation .while it is difficult to predict specific inflationary items , we expect higher cost inflation to continue through fiscal 2019 .our corrugated packaging segment increased its net sales by $ 695.1 million in fiscal 2018 to $ 9103.4 million from $ 8408.3 million in fiscal 2017 .the increase in net sales was primarily due to higher corrugated selling price/mix and higher corrugated volumes ( including acquisitions ) , which were partially offset by lower net sales from recycling operations due to lower recycled fiber costs , lower sales related to the deconsolidation of a foreign joint venture in fiscal 2017 and the impact of foreign currency .north american box shipments increased 4.1% ( 4.1 % ) on a per day basis in fiscal 2018 compared to fiscal 2017 .segment income attributable to the corrugated packaging segment in fiscal 2018 increased $ 454.0 million to $ 1207.9 million compared to $ 753.9 million in fiscal 2017 .the increase was primarily due to higher selling price/mix , lower recycled fiber costs and productivity improvements which were partially offset by higher levels of cost inflation and other items , including increased depreciation and amortization .our consumer packaging segment increased its net sales by $ 838.9 million in fiscal 2018 to $ 7291.4 million from $ 6452.5 million in fiscal 2017 .the increase in net sales was primarily due to an increase in net sales from acquisitions ( primarily the mps acquisition ) and higher selling price/mix partially offset by the absence of net sales from hh&b in fiscal 2018 due to the hh&b sale in april 2017 and lower volumes .segment income attributable to .
|
how much did net sales grow in a percentage from 2016 to 2018?
|
15%
|
{
"answer": "15%",
"decimal": 0.15,
"type": "percentage"
}
|
to figure out how much net sales grew from 2016 to 2018 one must subtract 2018 sales by 2016 and the divide the answer by 2016 sales .
|
majority of the increased tax position is attributable to temporary differences .the increase in 2014 current period tax positions related primarily to the company 2019s change in tax accounting method filed in 2008 for repair and maintenance costs on its utility plant .the company does not anticipate material changes to its unrecognized tax benefits within the next year .if the company sustains all of its positions at december 31 , 2014 and 2013 , an unrecognized tax benefit of $ 9444 and $ 7439 , respectively , excluding interest and penalties , would impact the company 2019s effective tax rate .the following table summarizes the changes in the company 2019s valuation allowance: .
[['balance at january 1 2012', '$ 21579'], ['increases in current period tax positions', '2014'], ['decreases in current period tax positions', '-2059 ( 2059 )'], ['balance at december 31 2012', '$ 19520'], ['increases in current period tax positions', '2014'], ['decreases in current period tax positions', '-5965 ( 5965 )'], ['balance at december 31 2013', '$ 13555'], ['increases in current period tax positions', '2014'], ['decreases in current period tax positions', '-3176 ( 3176 )'], ['balance at december 31 2014', '$ 10379']]
included in 2013 is a discrete tax benefit totaling $ 2979 associated with an entity re-organization within the company 2019s market-based operations segment that allowed for the utilization of state net operating loss carryforwards and the release of an associated valuation allowance .note 13 : 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 commingled funds including equity and bond funds , fixed income securities , guaranteed interest contracts with insurance companies , real estate funds 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. .
|
what percentage of the company 2019s valuation allowance consisted of a discrete tax benefit in 2013?
|
28.7%
|
{
"answer": "28.7%",
"decimal": 0.287,
"type": "percentage"
}
| |
jpmorgan chase & co./2018 form 10-k 41 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co .( 201cjpmorgan chase 201d or the 201cfirm 201d ) common stock with the cumulative return of the s&p 500 index , the kbw bank index and the s&p financial index .the s&p 500 index is a commonly referenced equity benchmark in the united states of america ( 201cu.s . 201d ) , consisting of leading companies from different economic sectors .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 leading national money center and regional banks and thrifts .the s&p financial index is an index of financial companies , all of which are components of the s&p 500 .the firm is a component of all three industry indices .the following table and graph assume simultaneous investments of $ 100 on december 31 , 2013 , in jpmorgan chase common stock and in each of the above indices .the comparison assumes that all dividends are reinvested .december 31 , ( in dollars ) 2013 2014 2015 2016 2017 2018 .
[['december 31 ( in dollars )', '2013', '2014', '2015', '2016', '2017', '2018'], ['jpmorgan chase', '$ 100.00', '$ 109.88', '$ 119.07', '$ 160.23', '$ 203.07', '$ 189.57'], ['kbw bank index', '100.00', '109.36', '109.90', '141.23', '167.49', '137.82'], ['s&p financial index', '100.00', '115.18', '113.38', '139.17', '169.98', '147.82'], ['s&p 500 index', '100.00', '113.68', '115.24', '129.02', '157.17', '150.27']]
december 31 , ( in dollars ) .
|
based on the review of the stock perfomance what was the ratio of the jpmorgan chase in 2017 to 3 kbw bank index
|
1.2
|
{
"answer": "1.2",
"decimal": 1.2,
"type": "float"
}
| |
the pension plan investments are held in a master trust , with the northern trust company .investments in the master trust are valued at fair value , which has been determined based on fair value of the underlying investments of the master trust .investments in securities traded on public security exchanges are valued at their closing market prices on the valuation date ; where no sale was made on the valuation date , the security is generally valued at its most recent bid price .certain short-term investments are carried at cost , which approximates fair value .investments in registered investment companies and common trust funds , which primarily invest in stocks , bonds , and commodity futures , are valued using publicly available market prices for the underlying investments held by these entities .the majority of pension plan assets are invested in equity securities , because equity portfolios have historically provided higher returns than debt and other asset classes over extended time horizons , and are expected to do so in the future .correspondingly , equity investments also entail greater risks than other investments .equity risks are balanced by investing a significant portion of the plan 2019s assets in high quality debt securities .the average quality rating of the debt portfolio exceeded aa as of december 31 , 2008 and 2007 .the debt portfolio is also broadly diversified and invested primarily in u.s .treasury , mortgage , and corporate securities with an intermediate average maturity .the weighted-average maturity of the debt portfolio was 5 years at both december 31 , 2008 and 2007 , respectively .the investment of pension plan assets in securities issued by union pacific is specifically prohibited for both the equity and debt portfolios , other than through index fund holdings .other retirement programs thrift plan 2013 we provide a defined contribution plan ( thrift plan ) to eligible non-union employees and make matching contributions to the thrift plan .we match 50 cents for each dollar contributed by employees up to the first six percent of compensation contributed .our thrift plan contributions were $ 14 million in 2008 , $ 14 million in 2007 , and $ 13 million in 2006 .railroad retirement system 2013 all railroad employees are covered by the railroad retirement system ( the system ) .contributions made to the system are expensed as incurred and amounted to approximately $ 620 million in 2008 , $ 616 million in 2007 , and $ 615 million in 2006 .collective bargaining agreements 2013 under collective bargaining agreements , we provide certain postretirement healthcare and life insurance benefits for eligible union employees .premiums under the plans are expensed as incurred and amounted to $ 49 million in 2008 and $ 40 million in both 2007 and 5 .other income other income included the following for the years ended december 31 : millions of dollars 2008 2007 2006 .
[['millions of dollars', '2008', '2007', '2006'], ['rental income', '$ 87', '$ 68', '$ 83'], ['net gain on non-operating asset dispositions', '41', '52', '72'], ['interest income', '21', '50', '29'], ['sale of receivables fees', '-23 ( 23 )', '-35 ( 35 )', '-33 ( 33 )'], ['non-operating environmental costs and other', '-34 ( 34 )', '-19 ( 19 )', '-33 ( 33 )'], ['total', '$ 92', '$ 116', '$ 118']]
.
|
what was the percentage change in rental income from 2006 to 2007?
|
-18%
|
{
"answer": "-18%",
"decimal": -0.18,
"type": "percentage"
}
| |
notes to the audited consolidated financial statements 6 .equity investments eastman has a 50 percent interest in and serves as the operating partner in primester , a joint venture which manufactures cellulose acetate at eastman's kingsport , tennessee plant .this investment is accounted for under the equity method .eastman's net investment in the joint venture at december 31 , 2007 and 2006 was approximately $ 43 million and $ 47 million , respectively , which was comprised of the recognized portion of the venture's accumulated deficits , long-term amounts owed to primester , and a line of credit from eastman to primester .such amounts are included in other noncurrent assets .eastman owns a 50 percent interest in nanjing yangzi eastman chemical ltd .( 201cnanjing 201d ) , a company which manufactures eastotactm hydrocarbon tackifying resins for the adhesives market .this joint venture is accounted for under the equity method and is included in other noncurrent assets .at december 31 , 2007 and 2006 , the company 2019s investment in nanjing was approximately $ 7 million and $ 5 million , respectively .in october 2007 , the company entered into an agreement with green rock energy , l.l.c .( "green rock" ) , a company formed by the d .e .shaw group and goldman , sachs & co. , to jointly develop the industrial gasification facility in beaumont , texas through tx energy , llc ( "tx energy" ) .eastman owns a 50 percent interest in tx energy , which is expected to be operational in 2011 and will produce intermediate chemicals , such as hydrogen , methanol , and ammonia from petroleum coke .this joint venture in the development stage is accounted for under the equity method , and is included in other noncurrent assets .at december 31 , 2007 , the company 2019s investment in tx energy was approximately $ 26 million .eastman also plans to participate in a project sponsored by faustina hydrogen products , l.l.c .which will use petroleum coke as the primary feedstock to make anhydrous ammonia and methanol .faustina hydrogen products is primarily owned by green rock .the company intends to take a 25 percent or greater equity position in the project , provide operations , maintenance , and other site management services , and purchase methanol under a long-term contract .capital costs for the facility are estimated to be approximately $ 1.6 billion .project financing is expected to be obtained by the end of 2008 .the facility will be built in st .james parish , louisiana and is expected to be complete by 2011 .on april 21 , 2005 , the company completed the sale of its equity investment in genencor international , inc .( "genencor" ) for cash proceeds of approximately $ 417 million , net of $ 2 million in fees .the book value of the investment prior to sale was $ 246 million , and the company recorded a pre-tax gain on the sale of $ 171 million .7 .payables and other current liabilities december 31 , ( dollars in millions ) 2007 2006 .
[['( dollars in millions )', 'december 31 2007', '2006'], ['trade creditors', '$ 578', '$ 581'], ['accrued payrolls vacation and variable-incentive compensation', '138', '126'], ['accrued taxes', '36', '59'], ['post-employment obligations', '60', '63'], ['interest payable', '31', '31'], ['bank overdrafts', '6', '11'], ['other', '164', '185'], ['total payables and other current liabilities', '$ 1013', '$ 1056']]
the current portion of post-employment obligations is an estimate of current year payments in excess of plan assets. .
|
what was the percent of the trade to the creditors to the total payable and other current liabilities
|
57.1%
|
{
"answer": "57.1%",
"decimal": 0.5710000000000001,
"type": "percentage"
}
| |
blackrock n 96 n notes in april 2009 , the company acquired $ 2 million of finite- lived management contracts with a five-year estimated useful life associated with the acquisition of the r3 capital partners funds .in december 2009 , in conjunction with the bgi trans- action , the company acquired $ 163 million of finite- lived management contracts with a weighted-average estimated useful life of approximately 10 years .estimated amortization expense for finite-lived intangible assets for each of the five succeeding years is as follows : ( dollar amounts in millions ) .
[['2010', '$ 160'], ['2011', '157'], ['2012', '156'], ['2013', '155'], ['2014', '149']]
indefinite-lived acquired management contracts on september 29 , 2006 , in conjunction with the mlim transaction , the company acquired indefinite-lived man- agement contracts valued at $ 4477 million consisting of $ 4271 million for all retail mutual funds and $ 206 million for alternative investment products .on october 1 , 2007 , in conjunction with the quellos transaction , the company acquired $ 631 million in indefinite-lived management contracts associated with alternative investment products .on october 1 , 2007 , the company purchased the remain- ing 20% ( 20 % ) of an investment manager of a fund of hedge funds .in conjunction with this transaction , the company recorded $ 8 million in additional indefinite-lived management contracts associated with alternative investment products .on december 1 , 2009 , in conjunction with the bgi transaction , the company acquired $ 9785 million in indefinite-lived management contracts valued consisting primarily for exchange traded funds and common and collective trusts .indefinite-lived acquired trade names/trademarks on december 1 , 2009 , in conjunction with the bgi transaction , the company acquired trade names/ trademarks primarily related to ishares valued at $ 1402.5 million .the fair value was determined using a royalty rate based primarily on normalized marketing and promotion expenditures to develop and support the brands globally .13 .borrowings short-term borrowings 2007 facility in august 2007 , the company entered into a five-year $ 2.5 billion unsecured revolving credit facility ( the 201c2007 facility 201d ) , which permits the company to request an additional $ 500 million of borrowing capacity , subject to lender credit approval , up to a maximum of $ 3.0 billion .the 2007 facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to earnings before interest , taxes , depreciation and amortiza- tion , where net debt equals total debt less domestic unrestricted cash ) of 3 to 1 , which was satisfied with a ratio of less than 1 to 1 at december 31 , 2009 .the 2007 facility provides back-up liquidity , funds ongoing working capital for general corporate purposes and funds various investment opportunities .at december 31 , 2009 , the company had $ 200 million outstanding under the 2007 facility with an interest rate of 0.44% ( 0.44 % ) and a maturity date during february 2010 .during february 2010 , the company rolled over $ 100 million in borrowings with an interest rate of 0.43% ( 0.43 % ) and a maturity date in may 2010 .lehman commercial paper inc .has a $ 140 million participation under the 2007 facility ; however blackrock does not expect that lehman commercial paper inc .will honor its commitment to fund additional amounts .bank of america , a related party , has a $ 140 million participation under the 2007 facility .in december 2007 , in order to support two enhanced cash funds that blackrock manages , blackrock elected to procure two letters of credit under the existing 2007 facility in an aggregate amount of $ 100 million .in decem- ber 2008 , the letters of credit were terminated .commercial paper program on october 14 , 2009 , blackrock established a com- mercial paper program ( the 201ccp program 201d ) under which the company may issue unsecured commercial paper notes ( the 201ccp notes 201d ) on a private placement basis up to a maximum aggregate amount outstanding at any time of $ 3 billion .the proceeds of the commercial paper issuances were used for the financing of a portion of the bgi transaction .subsidiaries of bank of america and barclays , as well as other third parties , act as dealers under the cp program .the cp program is supported by the 2007 facility .the company began issuance of cp notes under the cp program on november 4 , 2009 .as of december 31 , 2009 , blackrock had approximately $ 2 billion of out- standing cp notes with a weighted average interest rate of 0.20% ( 0.20 % ) and a weighted average maturity of 23 days .since december 31 , 2009 , the company repaid approxi- mately $ 1.4 billion of cp notes with proceeds from the long-term notes issued in december 2009 .as of march 5 , 2010 , blackrock had $ 596 million of outstanding cp notes with a weighted average interest rate of 0.18% ( 0.18 % ) and a weighted average maturity of 38 days .japan commitment-line in june 2008 , blackrock japan co. , ltd. , a wholly owned subsidiary of the company , entered into a five billion japanese yen commitment-line agreement with a bank- ing institution ( the 201cjapan commitment-line 201d ) .the term of the japan commitment-line was one year and interest accrued at the applicable japanese short-term prime rate .in june 2009 , blackrock japan co. , ltd .renewed the japan commitment-line for a term of one year .the japan commitment-line is intended to provide liquid- ity and flexibility for operating requirements in japan .at december 31 , 2009 , the company had no borrowings outstanding on the japan commitment-line .convertible debentures in february 2005 , the company issued $ 250 million aggregate principal amount of convertible debentures ( the 201cdebentures 201d ) , due in 2035 and bearing interest at a rate of 2.625% ( 2.625 % ) per annum .interest is payable semi- annually in arrears on february 15 and august 15 of each year , and commenced august 15 , 2005 .prior to february 15 , 2009 , the debentures could have been convertible at the option of the holder at a decem- ber 31 , 2008 conversion rate of 9.9639 shares of common stock per one dollar principal amount of debentures under certain circumstances .the debentures would have been convertible into cash and , in some situations as described below , additional shares of the company 2019s common stock , if during the five business day period after any five consecutive trading day period the trading price per debenture for each day of such period is less than 103% ( 103 % ) of the product of the last reported sales price of blackrock 2019s common stock and the conversion rate of the debentures on each such day or upon the occurrence of certain other corporate events , such as a distribution to the holders of blackrock common stock of certain rights , assets or debt securities , if the company becomes party to a merger , consolidation or transfer of all or substantially all of its assets or a change of control of the company .on february 15 , 2009 , the debentures became convertible into cash at any time prior to maturity at the option of the holder and , in some situations as described below , additional shares of the company 2019s common stock at the current conversion rate .at the time the debentures are tendered for conver- sion , for each one dollar principal amount of debentures converted , a holder shall be entitled to receive cash and shares of blackrock common stock , if any , the aggregate value of which ( the 201cconversion value 201d ) will be deter- mined by multiplying the applicable conversion rate by the average of the daily volume weighted average price of blackrock common stock for each of the ten consecutive trading days beginning on the second trading day imme- diately following the day the debentures are tendered for conversion ( the 201cten-day weighted average price 201d ) .the company will deliver the conversion value to holders as follows : ( 1 ) an amount in cash ( the 201cprincipal return 201d ) equal to the lesser of ( a ) the aggregate conversion value of the debentures to be converted and ( b ) the aggregate principal amount of the debentures to be converted , and ( 2 ) if the aggregate conversion value of the debentures to be converted is greater than the principal return , an amount in shares ( the 201cnet shares 201d ) , determined as set forth below , equal to such aggregate conversion value less the principal return ( the 201cnet share amount 201d ) .the number of net shares to be paid will be determined by dividing the net share amount by the ten-day weighted average price .in lieu of delivering fractional shares , the company will deliver cash based on the ten-day weighted average price .the conversion rate for the debentures is subject to adjustments upon the occurrence of certain corporate events , such as a change of control of the company , 193253ti_txt.indd 96 4/2/10 1:18 pm .
|
what is the annual interest expense related to debentures issued in 2005 that are due in 2035 , in millions?
|
6.6
|
{
"answer": "6.6",
"decimal": 6.6,
"type": "float"
}
| |
the following unaudited pro forma information for the years ended december 31 , 2008 and 2007 pres- ents the results of operations of international paper as if the cbpr and central lewmar acquisitions , and the luiz antonio asset exchange , had occurred on january 1 , 2007 .this pro forma information does not purport to represent international paper 2019s actual results of operations if the transactions described above would have occurred on january 1 , 2007 , nor is it necessarily indicative of future results .in millions , except per share amounts 2008 2007 .
[['in millions except per share amounts', '2008', '2007'], ['net sales', '$ 27920', '$ 27489'], ['earnings ( loss ) from continuingoperations', '-1348 ( 1348 )', '1083'], ['net earnings ( loss ) ( 1 )', '-1361 ( 1361 )', '1052'], ['earnings ( loss ) from continuingoperations per common share', '-3.20 ( 3.20 )', '2.50'], ['net earnings ( loss ) per common share ( 1 )', '-3.23 ( 3.23 )', '2.43']]
earnings ( loss ) from continuing operations per common share ( 3.20 ) 2.50 net earnings ( loss ) per common share ( 1 ) ( 3.23 ) 2.43 ( 1 ) attributable to international paper company common share- holders .joint ventures in october 2007 , international paper and ilim holding s.a .announced the completion of the formation of a 50:50 joint venture to operate in russia as ilim group .to form the joint venture , international paper purchased 50% ( 50 % ) of ilim holding s.a .( ilim ) for approx- imately $ 620 million , including $ 545 million in cash and $ 75 million of notes payable , and contributed an additional $ 21 million in 2008 .the company 2019s investment in ilim totaled approximately $ 465 mil- lion at december 31 , 2009 , which is approximately $ 190 million higher than the company 2019s share of the underlying net assets of ilim .this basis difference primarily consists of the estimated fair value write-up of ilim plant , property and equipment of $ 150 million that is being amortized as a reduction of reported net income over the estimated remaining useful lives of the related assets , goodwill of $ 90 million and other basis differences of $ 50 million , including deferred taxes .a key element of the proposed joint venture strategy is a long-term investment program in which the joint venture will invest , through cash from operations and additional borrowings by the joint venture , approximately $ 1.5 billion in ilim 2019s three mills over approximately five years .this planned investment in the russian pulp and paper industry will be used to upgrade equipment , increase production capacity and allow for new high-value uncoated paper , pulp and corrugated packaging product development .this capital expansion strategy is expected to be ini- tiated in the second half of 2010 , subject to ilim obtaining financing sufficient to fund the project .note 7 businesses held for sale , divestitures and impairments discontinued operations 2008 : during the fourth quarter of 2008 , the com- pany recorded pre-tax gains of $ 9 million ( $ 5 million after taxes ) for adjustments to reserves associated with the sale of discontinued operations .during the first quarter of 2008 , the company recorded a pre-tax charge of $ 25 million ( $ 16 million after taxes ) related to the final settlement of a post- closing adjustment to the purchase price received by the company for the sale of its beverage packaging business , and a $ 3 million charge before taxes ( $ 2 million after taxes ) for 2008 operating losses related to certain wood products facilities .2007 : during the fourth quarter of 2007 , the com- pany recorded a pre-tax charge of $ 9 million ( $ 6 mil- lion after taxes ) and a pre-tax credit of $ 4 million ( $ 3 million after taxes ) relating to adjustments to esti- mated losses on the sales of its beverage packaging and wood products businesses , respectively .addi- tionally , during the fourth quarter , a $ 4 million pre-tax charge ( $ 3 million after taxes ) was recorded for additional taxes associated with the sale of the company 2019s former weldwood of canada limited business .during the third quarter of 2007 , the company com- pleted the sale of the remainder of its non-u.s .beverage packaging business .during the second quarter of 2007 , the company recorded pre-tax charges of $ 6 million ( $ 4 million after taxes ) and $ 5 million ( $ 3 million after taxes ) relating to adjustments to estimated losses on the sales of its wood products and beverage packaging businesses , respectively .during the first quarter of 2007 , the company recorded pre-tax credits of $ 21 million ( $ 9 million after taxes ) and $ 6 million ( $ 4 million after taxes ) relating to the sales of its wood products and kraft papers businesses , respectively .in addition , a $ 15 million pre-tax charge ( $ 39 million after taxes ) was recorded for adjustments to the loss on the com- pletion of the sale of most of the beverage packaging business .finally , a pre-tax credit of approximately $ 10 million ( $ 6 million after taxes ) was recorded for refunds received from the canadian government of .
|
what was the change in the net sales from 2007 to 2008
|
431
|
{
"answer": "431",
"decimal": 431,
"type": "float"
}
| |
abiomed , inc .and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 12 .stock award plans and stock based compensation ( continued ) compensation expense recognized related to the company 2019s espp was approximately $ 0.1 million for each of the years ended march 31 , 2009 , 2008 and 2007 respectively .the fair value of shares issued under the employee stock purchase plan was estimated on the commencement date of each offering period using the black-scholes option-pricing model with the following assumptions: .
[['', '2009', '2008', '2007'], ['risk-free interest rate', '1.01% ( 1.01 % )', '4.61% ( 4.61 % )', '4.84% ( 4.84 % )'], ['expected life ( years )', '0.5', '0.5', '0.5'], ['expected volatility', '67.2% ( 67.2 % )', '45.2% ( 45.2 % )', '39.8% ( 39.8 % )']]
note 13 .capital stock in august 2008 , the company issued 2419932 shares of its common stock at a price of $ 17.3788 in a public offering , which resulted in net proceeds to the company of approximately $ 42.0 million , after deducting offering expenses .in march 2007 , the company issued 5000000 shares of common stock in a public offering , and in april 2007 , an additional 80068 shares of common stock were issued in connection with the offering upon the partial exercise of the underwriters 2019 over-allotment option .the company has authorized 1000000 shares of class b preferred stock , $ 0.01 par value , of which the board of directors can set the designation , rights and privileges .no shares of class b preferred stock have been issued or are outstanding .note 14 .income taxes deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to tax benefit carryforwards and to differences between the financial statement amounts of assets and liabilities and their respective tax basis .deferred tax assets and liabilities are measured using enacted tax rates .a valuation reserve is established if it is more likely than not that all or a portion of the deferred tax asset will not be realized .the tax benefit associated with the stock option compensation deductions will be credited to equity when realized .at march 31 , 2009 , the company had federal and state net operating loss carryforwards , or nols , of approximately $ 145.1 million and $ 97.1 million , respectively , which begin to expire in fiscal 2010 .additionally , at march 31 , 2009 , the company had federal and state research and development credit carryforwards of approximately $ 8.1 million and $ 4.2 million , respectively , which begin to expire in fiscal 2010 .the company acquired impella , a german-based company , in may 2005 .impella had pre-acquisition net operating losses of approximately $ 18.2 million at the time of acquisition ( which is denominated in euros and is subject to foreign exchange remeasurement at each balance sheet date presented ) , and has since incurred net operating losses in each fiscal year since the acquisition .during fiscal 2008 , the company determined that approximately $ 1.2 million of pre-acquisition operating losses could not be utilized .the utilization of pre-acquisition net operating losses of impella in future periods is subject to certain statutory approvals and business requirements .due to uncertainties surrounding the company 2019s ability to generate future taxable income to realize these assets , a full valuation allowance has been established to offset the company 2019s net deferred tax assets and liabilities .additionally , the future utilization of the company 2019s nol and research and development credit carry forwards to offset future taxable income may be subject to a substantial annual limitation under section 382 of the internal revenue code due to ownership changes that have occurred previously or that could occur in the future .ownership changes , as defined in section 382 of the internal revenue code , can limit the amount of net operating loss carry forwards and research and development credit carry forwards that a company can use each year to offset future taxable income and taxes payable .the company believes that all of its federal and state nol 2019s will be available for carryforward to future tax periods , subject to the statutory maximum carryforward limitation of any annual nol .any future potential limitation to all or a portion of the nol or research and development credit carry forwards , before they can be utilized , would reduce the company 2019s gross deferred tax assets .the company will monitor subsequent ownership changes , which could impose limitations in the future. .
|
what is the growth rate in risk-free interest rate from 2007 to 2008?
|
-4.8%
|
{
"answer": "-4.8%",
"decimal": -0.048,
"type": "percentage"
}
| |
income tax expense .
[['( in millions )', 'gaap 2017', 'gaap 2016', 'gaap 2015', 'gaap 2017', 'gaap 2016', '2015'], ['operating income ( 1 )', '$ 5272', '$ 4570', '$ 4664', '$ 5287', '$ 4674', '$ 4695'], ['total nonoperating income ( expense ) ( 1 ) ( 2 )', '-32 ( 32 )', '-108 ( 108 )', '-69 ( 69 )', '-32 ( 32 )', '-108 ( 108 )', '-70 ( 70 )'], ['income before income taxes ( 2 )', '$ 5240', '$ 4462', '$ 4595', '$ 5255', '$ 4566', '$ 4625'], ['income tax expense ( 3 )', '$ 270', '$ 1290', '$ 1250', '$ 1539', '$ 1352', '$ 1312'], ['effective tax rate ( 3 )', '5.2% ( 5.2 % )', '28.9% ( 28.9 % )', '27.2% ( 27.2 % )', '29.3% ( 29.3 % )', '29.6% ( 29.6 % )', '28.4% ( 28.4 % )']]
operating income ( 1 ) $ 5272 $ 4570 $ 4664 $ 5287 $ 4674 $ 4695 total nonoperating income ( expense ) ( 1 ) ( 2 ) ( 32 ) ( 108 ) ( 69 ) ( 32 ) ( 108 ) ( 70 ) income before income taxes ( 2 ) $ 5240 $ 4462 $ 4595 $ 5255 $ 4566 $ 4625 income tax expense ( 3 ) $ 270 $ 1290 $ 1250 $ 1539 $ 1352 $ 1312 effective tax rate ( 3 ) 5.2% ( 5.2 % ) 28.9% ( 28.9 % ) 27.2% ( 27.2 % ) 29.3% ( 29.3 % ) 29.6% ( 29.6 % ) 28.4% ( 28.4 % ) ( 1 ) see non-gaap financial measures for further information on and reconciliation of as adjusted items .( 2 ) net of net income ( loss ) attributable to nci .( 3 ) gaap income tax expense and effective tax rate for 2017 reflects $ 1.2 billion of a net tax benefit related to the 2017 tax act .the company 2019s tax rate is affected by tax rates in foreign jurisdictions and the relative amount of income earned in those jurisdictions , which the company expects to be fairly consistent in the near term .the significant foreign jurisdictions that have lower statutory tax rates than the u.s .federal statutory rate of 35% ( 35 % ) include the united kingdom , channel islands , ireland and netherlands .2017 .income tax expense ( gaap ) reflected : 2022 the following amounts related to the 2017 tax act : 2022 $ 106 million tax expense related to the revaluation of certain deferred income tax assets ; 2022 $ 1758 million noncash tax benefit related to the revaluation of certain deferred income tax liabilities ; 2022 $ 477 million tax expense related to the mandatory deemed repatriation of undistributed foreign earnings and profits .2022 a noncash expense of $ 16 million , primarily associated with the revaluation of certain deferred income tax liabilities as a result of domestic state and local tax changes ; and 2022 $ 173 million discrete tax benefits , primarily related to stock-based compensation awards , including $ 151 million related to the adoption of new accounting guidance related to stock-based compensation awards .see note 2 , significant accounting policies , for further information .the as adjusted effective tax rate of 29.3% ( 29.3 % ) for 2017 excluded the noncash deferred tax revaluation benefit of $ 1758 million and noncash expense of $ 16 million mentioned above as it will not have a cash flow impact and to ensure comparability among periods presented .in addition , the deemed repatriation tax expense of $ 477 million has been excluded from the as adjusted results due to the one-time nature and to ensure comparability among periods presented .2016 .income tax expense ( gaap ) reflected : 2022 a net noncash benefit of $ 30 million , primarily associated with the revaluation of certain deferred income tax liabilities ; and 2022 a benefit from $ 65 million of nonrecurring items , including the resolution of certain outstanding tax matters .the as adjusted effective tax rate of 29.6% ( 29.6 % ) for 2016 excluded the net noncash benefit of $ 30 million mentioned above as it will not have a cash flow impact and to ensure comparability among periods presented .2015 .income tax expense ( gaap ) reflected : 2022 a net noncash benefit of $ 54 million , primarily associated with the revaluation of certain deferred income tax liabilities ; and 2022 a benefit from $ 75 million of nonrecurring items , primarily due to the realization of losses from changes in the company 2019s organizational tax structure and the resolution of certain outstanding tax matters .the as adjusted effective tax rate of 28.4% ( 28.4 % ) for 2015 excluded the net noncash benefit of $ 54 million mentioned above , as it will not have a cash flow impact and to ensure comparability among periods presented .balance sheet overview as adjusted balance sheet the following table presents a reconciliation of the consolidated statement of financial condition presented on a gaap basis to the consolidated statement of financial condition , excluding the impact of separate account assets and separate account collateral held under securities lending agreements ( directly related to lending separate account securities ) and separate account liabilities and separate account collateral liabilities under securities lending agreements and consolidated sponsored investment funds , including consolidated vies .the company presents the as adjusted balance sheet as additional information to enable investors to exclude certain assets that have equal and offsetting liabilities or noncontrolling interests that ultimately do not have an impact on stockholders 2019 equity or cash flows .management views the as adjusted balance sheet , which contains non-gaap financial measures , as an economic presentation of the company 2019s total assets and liabilities ; however , it does not advocate that investors consider such non-gaap financial measures in isolation from , or as a substitute for , financial information prepared in accordance with gaap .separate account assets and liabilities and separate account collateral held under securities lending agreements separate account assets are maintained by blackrock life limited , a wholly owned subsidiary of the company that is a registered life insurance company in the united kingdom , and represent segregated assets held for purposes of funding individual and group pension contracts .the .
|
what is the growth rate in operating income from 2016 to 2017?
|
15.4%
|
{
"answer": "15.4%",
"decimal": 0.154,
"type": "percentage"
}
| |
five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the dj trans , and the s&p 500 .the graph assumes that $ 100 was invested in the common stock of union pacific corporation and each index on december 31 , 2008 and that all dividends were reinvested .the information below is historical in nature and is not necessarily indicative of future performance .purchases of equity securities 2013 during 2013 , we repurchased 14996957 shares of our common stock at an average price of $ 152.14 .the following table presents common stock repurchases during each month for the fourth quarter of 2013 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares that may yet be purchased under the plan or program [b] .
[['period', 'total number ofsharespurchased [a]', 'averageprice paidper share', 'total number of sharespurchased as part ofapublicly announced planor program [b]', 'maximum number ofshares that may yetbe purchased under the planor program [b]'], ['oct . 1 through oct . 31', '1405535', '153.18', '1405535', '4020650'], ['nov . 1 through nov . 30', '1027840', '158.66', '1025000', '2995650'], ['dec . 1 through dec . 31', '2500944', '163.14', '2498520', '497130'], ['total', '4934319', '$ 159.37', '4929055', 'n/a']]
[a] total number of shares purchased during the quarter includes approximately 5264 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares .[b] on april 1 , 2011 , our board of directors authorized the repurchase of up to 40 million shares of our common stock by march 31 , 2014 .these repurchases may be made on the open market or through other transactions .our management has sole discretion with respect to determining the timing and amount of these transactions .on november 21 , 2013 , the board of directors approved the early renewal of the share repurchase program , authorizing the repurchase of 60 million common shares by december 31 , 2017 .the new authorization is effective january 1 , 2014 , and replaces the previous authorization , which expired on december 31 , 2013 , three months earlier than its original expiration date. .
|
what percentage of total shares purchased where purchased in november?
|
21%
|
{
"answer": "21%",
"decimal": 0.21,
"type": "percentage"
}
| |
10-k altria ar release tuesday , february 27 , 2018 10:00pm andra design llc verdicts have been appealed , there remains a risk that such relief may not be obtainable in all cases .this risk has been substantially reduced given that 47 states and puerto rico limit the dollar amount of bonds or require no bond at all .as discussed below , however , tobacco litigation plaintiffs have challenged the constitutionality of florida 2019s bond cap statute in several cases and plaintiffs may challenge state bond cap statutes in other jurisdictions as well .such challenges may include the applicability of state bond caps in federal court .states , including florida , may also seek to repeal or alter bond cap statutes through legislation .although altria group , inc .cannot predict the outcome of such challenges , it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome of one or more such challenges .altria group , inc .and its subsidiaries record provisions in the consolidated financial statements for pending litigation when they determine that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated .at the present time , while it is reasonably possible that an unfavorable outcome in a case may occur , except to the extent discussed elsewhere in this note 18 .contingencies : ( i ) management has concluded that it is not probable that a loss has been incurred in any of the pending tobacco-related cases ; ( ii ) management is unable to estimate the possible loss or range of loss that could result from an unfavorable outcome in any of the pending tobacco-related cases ; and ( iii ) accordingly , management has not provided any amounts in the consolidated financial statements for unfavorable outcomes , if any .litigation defense costs are expensed as incurred .altria group , inc .and its subsidiaries have achieved substantial success in managing litigation .nevertheless , litigation is subject to uncertainty and significant challenges remain .it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome or settlement of certain pending litigation .altria group , inc .and each of its subsidiaries named as a defendant believe , and each has been so advised by counsel handling the respective cases , that it has valid defenses to the litigation pending against it , as well as valid bases for appeal of adverse verdicts .each of the companies has defended , and will continue to defend , vigorously against litigation challenges .however , altria group , inc .and its subsidiaries may enter into settlement discussions in particular cases if they believe it is in the best interests of altria group , inc .to do so .overview of altria group , inc .and/or pm usa tobacco- related litigation types and number of cases : claims related to tobacco products generally fall within the following categories : ( i ) smoking and health cases alleging personal injury brought on behalf of individual plaintiffs ; ( ii ) smoking and health cases primarily alleging personal injury or seeking court-supervised programs for ongoing medical monitoring and purporting to be brought on behalf of a class of individual plaintiffs , including cases in which the aggregated claims of a number of individual plaintiffs are to be tried in a single proceeding ; ( iii ) health care cost recovery cases brought by governmental ( both domestic and foreign ) plaintiffs seeking reimbursement for health care expenditures allegedly caused by cigarette smoking and/or disgorgement of profits ; ( iv ) class action suits alleging that the uses of the terms 201clights 201d and 201cultra lights 201d constitute deceptive and unfair trade practices , common law or statutory fraud , unjust enrichment , breach of warranty or violations of the racketeer influenced and corrupt organizations act ( 201crico 201d ) ; and ( v ) other tobacco-related litigation described below .plaintiffs 2019 theories of recovery and the defenses raised in pending smoking and health , health care cost recovery and 201clights/ultra lights 201d cases are discussed below .the table below lists the number of certain tobacco-related cases pending in the united states against pm usa and , in some instances , altria group , inc .as of december 31 , 2017 , 2016 and .
[['', '2017', '2016', '2015'], ['individual smoking and health cases ( 1 )', '92', '70', '65'], ['smoking and health class actions and aggregated claims litigation ( 2 )', '4', '5', '5'], ['health care cost recovery actions ( 3 )', '1', '1', '1'], ['201clights/ultra lights 201d class actions', '3', '8', '11']]
( 1 ) does not include 2414 cases brought by flight attendants seeking compensatory damages for personal injuries allegedly caused by exposure to environmental tobacco smoke ( 201cets 201d ) .the flight attendants allege that they are members of an ets smoking and health class action in florida , which was settled in 1997 ( broin ) .the terms of the court-approved settlement in that case allowed class members to file individual lawsuits seeking compensatory damages , but prohibited them from seeking punitive damages .also , does not include individual smoking and health cases brought by or on behalf of plaintiffs in florida state and federal courts following the decertification of the engle case ( discussed below in smoking and health litigation - engle class action ) .( 2 ) includes as one case the 30 civil actions that were to be tried in six consolidated trials in west virginia ( in re : tobacco litigation ) .pm usa is a defendant in nine of the 30 cases .the parties have agreed to resolve the cases for an immaterial amount and have so notified the court .( 3 ) see health care cost recovery litigation - federal government 2019s lawsuit below .international tobacco-related cases : as of january 29 , 2018 , pm usa is a named defendant in 10 health care cost recovery actions in canada , eight of which also name altria group , inc .as a defendant .pm usa and altria group , inc .are also named defendants in seven smoking and health class actions filed in various canadian provinces .see guarantees and other similar matters below for a discussion of the distribution agreement between altria group , inc .and pmi that provides for indemnities for certain liabilities concerning tobacco products. .
|
what are the total number of pending tobacco-related cases in united states in 2017?
|
100
|
{
"answer": "100",
"decimal": 100,
"type": "float"
}
| |
meet customer needs and put us in a position to handle demand changes .we will also continue utilizing industrial engineering techniques to improve productivity .2022 fuel prices 2013 uncertainty about the economy makes fuel price projections difficult , and we could see volatile fuel prices during the year , as they are sensitive to global and u.s .domestic demand , refining capacity , geopolitical issues and events , weather conditions and other factors .to reduce the impact of fuel price on earnings , we will continue to seek recovery from our customers through our fuel surcharge programs and to expand our fuel conservation efforts .2022 capital plan 2013 in 2010 , we plan to make total capital investments of approximately $ 2.5 billion , including expenditures for ptc , which may be revised if business conditions or 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 .2022 positive train control ( ptc ) 2013 in response to a legislative mandate to implement ptc by the end of 2015 , we expect to spend approximately $ 200 million during 2010 on the development of ptc .we currently estimate that ptc will cost us approximately $ 1.4 billion to implement by the end of 2015 , in accordance with rules issued by the fra .this includes costs for installing the new system along our tracks , upgrading locomotives to work with the new system , and adding digital data communication equipment so all the parts of the system can communicate with each other .2022 financial expectations 2013 we remain cautious about economic conditions but expect volume to increase from 2009 levels .in addition , we anticipate continued pricing opportunities and further productivity improvements .results of operations operating revenues millions of dollars 2009 2008 2007 % ( % ) change 2009 v 2008 % ( % ) change 2008 v 2007 .
[['millions of dollars', '2009', '2008', '2007', '% ( % ) change 2009 v 2008', '% ( % ) change 2008 v 2007'], ['freight revenues', '$ 13373', '$ 17118', '$ 15486', '( 22 ) % ( % )', '11% ( 11 % )'], ['other revenues', '770', '852', '797', '-10 ( 10 )', '7'], ['total', '$ 14143', '$ 17970', '$ 16283', '( 21 ) % ( % )', '10% ( 10 % )']]
freight revenues are revenues generated by transporting freight or other materials from our six commodity groups .freight revenues vary with volume ( carloads ) and average revenue per car ( arc ) .changes in price , traffic mix and fuel surcharges drive arc .we provide some of our customers with contractual incentives for meeting or exceeding specified cumulative volumes or shipping to and from specific locations , which we record as a reduction to freight revenues based on the actual or projected future shipments .we recognize freight revenues on a percentage-of-completion basis as freight moves from origin to destination .we allocate freight revenues between reporting periods based on the relative transit time in each reporting period and recognize expenses as we incur them .other revenues include revenues earned by our subsidiaries , revenues from our commuter rail operations , and accessorial revenues , which we earn when customers retain equipment owned or controlled by us or when we perform additional services such as switching or storage .we recognize other revenues as we perform services or meet contractual obligations .freight revenues and volume levels for all six commodity groups decreased during 2009 , reflecting continued economic weakness .we experienced the largest volume declines in automotive and industrial .
|
what was the change in total revenue in millions from 2007 to 2008?
|
1687
|
{
"answer": "1687",
"decimal": 1687,
"type": "float"
}
| |
( c ) the cash payments are interest payments on the associated debt obligations discussed above .after formation of the 2015 financing entities , the payments represent interest paid on nonrecourse financial liabilities of special purpose entities .in connection with the acquisition of temple-inland in february 2012 , two special purpose entities became wholly-owned subsidiaries of international paper .the use of the two wholly-owned special purpose entities discussed below preserved the tax deferral that resulted from the 2007 temple-inland timberlands sales .the company recognized an $ 840 million deferred tax liability in connection with the 2007 sales , which will be settled with the maturity of the notes in in october 2007 , temple-inland sold 1.55 million acres of timberland for $ 2.38 billion .the total consideration consisted almost entirely of notes due in 2027 issued by the buyer of the timberland , which temple-inland contributed to two wholly-owned , bankruptcy-remote special purpose entities .the notes are shown in financial assets of special purpose entities in the accompanying consolidated balance sheet and are supported by $ 2.38 billion of irrevocable letters of credit issued by three banks , which are required to maintain minimum credit ratings on their long-term debt .in the third quarter of 2012 , international paper completed its preliminary analysis of the acquisition date fair value of the notes and determined it to be $ 2.09 billion .as of december 31 , 2015 and 2014 , the fair value of the notes was $ 2.10 billion and $ 2.27 billion , respectively .these notes are classified as level 2 within the fair value hierarchy , which is further defined in note 14 .in december 2007 , temple-inland's two wholly-owned special purpose entities borrowed $ 2.14 billion shown in nonrecourse financial liabilities of special purpose entities .the loans are repayable in 2027 and are secured only by the $ 2.38 billion of notes and the irrevocable letters of credit securing the notes and are nonrecourse to us .the loan agreements provide that if a credit rating of any of the banks issuing the letters of credit is downgraded below the specified threshold , the letters of credit issued by that bank must be replaced within 30 days with letters of credit from another qualifying financial institution .in the third quarter of 2012 , international paper completed its preliminary analysis of the acquisition date fair value of the borrowings and determined it to be $ 2.03 billion .as of december 31 , 2015 and 2014 , the fair value of this debt was $ 1.97 billion and $ 2.16 billion , respectively .this debt is classified as level 2 within the fair value hierarchy , which is further defined in note 14 .activity between the company and the 2007 financing entities was as follows: .
[['in millions', '2015', '2014', '2013'], ['revenue ( a )', '$ 27', '$ 26', '$ 27'], ['expense ( b )', '27', '25', '29'], ['cash receipts ( c )', '7', '7', '8'], ['cash payments ( d )', '18', '18', '21']]
( a ) the revenue is included in interest expense , net in the accompanying consolidated statement of operations and includes approximately $ 19 million , $ 19 million and $ 19 million for the years ended december 31 , 2015 , 2014 and 2013 , respectively , of accretion income for the amortization of the purchase accounting adjustment on the financial assets of special purpose entities .( b ) the expense is included in interest expense , net in the accompanying consolidated statement of operations and includes approximately $ 7 million , $ 7 million and $ 7 million for the years ended december 31 , 2015 , 2014 and 2013 , respectively , of accretion expense for the amortization of the purchase accounting adjustment on the nonrecourse financial liabilities of special purpose entities .( c ) the cash receipts are interest received on the financial assets of special purpose entities .( d ) the cash payments are interest paid on nonrecourse financial liabilities of special purpose entities .note 13 debt and lines of credit in 2015 , international paper issued $ 700 million of 3.80% ( 3.80 % ) senior unsecured notes with a maturity date in 2026 , $ 600 million of 5.00% ( 5.00 % ) senior unsecured notes with a maturity date in 2035 , and $ 700 million of 5.15% ( 5.15 % ) senior unsecured notes with a maturity date in 2046 .the proceeds from this borrowing were used to repay approximately $ 1.0 billion of notes with interest rates ranging from 4.75% ( 4.75 % ) to 9.38% ( 9.38 % ) and original maturities from 2018 to 2022 , along with $ 211 million of cash premiums associated with the debt repayments .additionally , the proceeds from this borrowing were used to make a $ 750 million voluntary cash contribution to the company's pension plan .pre-tax early debt retirement costs of $ 207 million related to the debt repayments , including the $ 211 million of cash premiums , are included in restructuring and other charges in the accompanying consolidated statement of operations for the twelve months ended december 31 , 2015 .during the second quarter of 2014 , international paper issued $ 800 million of 3.65% ( 3.65 % ) senior unsecured notes with a maturity date in 2024 and $ 800 million of 4.80% ( 4.80 % ) senior unsecured notes with a maturity date in 2044 .the proceeds from this borrowing were used to repay approximately $ 960 million of notes with interest rates ranging from 7.95% ( 7.95 % ) to 9.38% ( 9.38 % ) and original maturities from 2018 to 2019 .pre-tax early debt retirement costs of $ 262 million related to these debt repayments , including $ 258 million of cash premiums , are included in restructuring and other charges in the accompanying consolidated statement of operations for the twelve months ended december 31 , 2014. .
|
what was the ratio of the fair value of international paper completed preliminary analysis of the acquisition date fair value of the borrowings in 2015 compared to 2014
|
0.91
|
{
"answer": "0.91",
"decimal": 0.91,
"type": "float"
}
| |
baker hughes , a ge company notes to consolidated and combined financial statements bhge 2017 form 10-k | 85 the total intrinsic value of rsus ( defined as the value of the shares awarded at the current market price ) vested and outstanding in 2017 was $ 17 million and $ 38 million , respectively .the total fair value of rsus vested in 2017 was $ 19 million .as of december 31 , 2017 , there was $ 98 million of total unrecognized compensation cost related to unvested rsus , which is expected to be recognized over a weighted average period of 2.5 years .note 12 .equity common stock we are authorized to issue 2 billion shares of class a common stock , 1.25 billion shares of class b common stock and 50 million shares of preferred stock each of which have a par value of $ 0.0001 per share .on july 3 , 2017 , each share of baker hughes common stock was converted into one share of class a common stock in the company .the number of class a common stock and class b common stock shares outstanding at december 31 , 2017 is 422 million and 707 million , respectively .we have not issued any preferred stock .ge owns all the issued and outstanding class b common stock .each share of class a and class b common stock and the associated membership interest in bhge llc form a paired interest .while each share of class b common stock has equal voting rights to a share of class a common stock , it has no economic rights , meaning holders of class b common stock have no right to dividends and any assets in the event of liquidation of the company .former baker hughes stockholders immediately after the completion of the transactions received a special one-time cash dividend of $ 17.50 per share paid by the company to holders of record of the company's class a common stock .in addition , during 2017 the company declared and paid regular dividends of $ 0.17 per share and $ 0.18 per share to holders of record of the company's class a common stock during the quarters ended september 30 , 2017 and december 31 , 2017 , respectively .the following table presents the changes in number of shares outstanding ( in thousands ) : class a common class b common .
[['', 'class a common stock', 'class b common stock'], ['balance at december 31 2016', '2014', '2014'], ['issue of shares on business combination at july 3 2017', '427709', '717111'], ['issue of shares upon vesting of restricted stock units ( 1 )', '290', '2014'], ['issue of shares on exercises of stock options ( 1 )', '256', '2014'], ['stock repurchase program ( 2 ) ( 3 )', '-6047 ( 6047 )', '-10126 ( 10126 )'], ['balance at december 31 2017', '422208', '706985']]
( 1 ) share amounts reflected above are net of shares withheld to satisfy the employee's tax withholding obligation .( 2 ) on november 2 , 2017 , our board of directors authorized bhge llc to repurchase up to $ 3 billion of its common units from the company and ge .the proceeds of this repurchase are to be used by bhge to repurchase class a common stock of the company on the open market , which if fully implemented would result in the repurchase of approximately $ 1.1 billion of class a common stock .the class b common stock of the company , that is paired with repurchased common units , was repurchased by the company at par value .the $ 3 billion repurchase authorization is the aggregate authorization for repurchases of class a and class b common stock together with its paired unit .bhge llc had authorization remaining to repurchase up to approximately $ 2.5 billion of its common units from bhge and ge at december 31 , 2017 .( 3 ) during 2017 , we repurchased and canceled 6046735 shares of class a common stock for a total of $ 187 million .we also repurchased and canceled 10126467 shares of class b common stock from ge which is paired together with common units of bhge llc for $ 314 million. .
|
what portion of the authorized shares of class b common stock is outstanding as of december 31 , 2017?
|
56.6%
|
{
"answer": "56.6%",
"decimal": 0.5660000000000001,
"type": "percentage"
}
| |
nonoperating income ( expense ) .blackrock also uses operating margin , as adjusted , to monitor corporate performance and efficiency and as a benchmark to compare its performance with other companies .management uses both gaap and non-gaap financial measures in evaluating blackrock 2019s financial performance .the non-gaap measure by itself may pose limitations because it does not include all of blackrock 2019s revenues and expenses .operating income used for measuring operating margin , as adjusted , is equal to operating income , as adjusted , excluding the impact of closed-end fund launch costs and related commissions .management believes the exclusion of such costs and related commissions is useful because these costs can fluctuate considerably and revenues associated with the expenditure of these costs will not fully impact blackrock 2019s results until future periods .revenue used for operating margin , as adjusted , excludes distribution and servicing costs paid to related parties and other third parties .management believes the exclusion of such costs is useful because it creates consistency in the treatment for certain contracts for similar services , which due to the terms of the contracts , are accounted for under gaap on a net basis within investment advisory , administration fees and securities lending revenue .amortization of deferred sales commissions is excluded from revenue used for operating margin measurement , as adjusted , because such costs , over time , substantially offset distribution fee revenue the company earns .for each of these items , blackrock excludes from revenue used for operating margin , as adjusted , the costs related to each of these items as a proxy for such offsetting revenues .( b ) nonoperating income ( expense ) , less net income ( loss ) attributable to noncontrolling interests , as adjusted , is presented below .the compensation expense offset is recorded in operating income .this compensation expense has been included in nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , to offset returns on investments set aside for these plans , which are reported in nonoperating income ( expense ) , gaap basis .management believes nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , provides comparability of information among reporting periods and is an effective measure for reviewing blackrock 2019s nonoperating contribution to results .as compensation expense associated with ( appreciation ) depreciation on investments related to certain deferred compensation plans , which is included in operating income , substantially offsets the gain ( loss ) on the investments set aside for these plans , management believes nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted , provides a useful measure , for both management and investors , of blackrock 2019s nonoperating results that impact book value .during 2013 , the noncash , nonoperating pre-tax gain of $ 80 million related to the contributed pennymac investment has been excluded from nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted due to its nonrecurring nature and because the more than offsetting associated charitable contribution expense of $ 124 million is reported in operating income .( in millions ) 2013 2012 2011 nonoperating income ( expense ) , gaap basis $ 116 $ ( 54 ) $ ( 114 ) less : net income ( loss ) attributable to nci 19 ( 18 ) 2 .
[['( in millions )', '2013', '2012', '2011'], ['nonoperating income ( expense ) gaap basis', '$ 116', '$ -54 ( 54 )', '$ -114 ( 114 )'], ['less : net income ( loss ) attributable to nci', '19', '-18 ( 18 )', '2'], ['nonoperating income ( expense )', '97', '-36 ( 36 )', '-116 ( 116 )'], ['gain related to charitable contribution', '-80 ( 80 )', '2014', '2014'], ['compensation expense related to ( appreciation ) depreciation on deferred compensation plans', '-10 ( 10 )', '-6 ( 6 )', '3'], ['nonoperating income ( expense ) less net income ( loss ) attributable to nci as adjusted', '$ 7', '$ -42 ( 42 )', '$ -113 ( 113 )']]
gain related to charitable contribution ( 80 ) 2014 2014 compensation expense related to ( appreciation ) depreciation on deferred compensation plans ( 10 ) ( 6 ) 3 nonoperating income ( expense ) , less net income ( loss ) attributable to nci , as adjusted $ 7 $ ( 42 ) $ ( 113 ) ( c ) net income attributable to blackrock , as adjusted : management believes net income attributable to blackrock , inc. , as adjusted , and diluted earnings per common share , as adjusted , are useful measures of blackrock 2019s profitability and financial performance .net income attributable to blackrock , inc. , as adjusted , equals net income attributable to blackrock , inc. , gaap basis , adjusted for significant nonrecurring items , charges that ultimately will not impact blackrock 2019s book value or certain tax items that do not impact cash flow .see note ( a ) operating income , as adjusted , and operating margin , as adjusted , for information on the pnc ltip funding obligation , merrill lynch compensation contribution , charitable contribution , u.k .lease exit costs , contribution to stifs and restructuring charges .the 2013 results included a tax benefit of approximately $ 48 million recognized in connection with the charitable contribution .the tax benefit has been excluded from net income attributable to blackrock , inc. , as adjusted due to the nonrecurring nature of the charitable contribution .during 2013 , income tax changes included adjustments related to the revaluation of certain deferred income tax liabilities , including the effect of legislation enacted in the united kingdom and domestic state and local income tax changes .during 2012 , income tax changes included adjustments related to the revaluation of certain deferred income tax liabilities , including the effect of legislation enacted in the united kingdom and the state and local income tax effect resulting from changes in the company 2019s organizational structure .during 2011 , income tax changes included adjustments related to the revaluation of certain deferred income tax liabilities due to a state tax election and enacted u.k. , japan , u.s .state and local tax legislation .the resulting decrease in income taxes has been excluded from net income attributable to blackrock , inc. , as adjusted , as these items will not have a cash flow impact and to ensure comparability among periods presented. .
|
by what amount is the non-operating income gaap basis higher in 2013 compare to 2012?
|
170
|
{
"answer": "170",
"decimal": 170,
"type": "float"
}
| |
freesheet paper were higher in russia , but lower in europe reflecting weak economic conditions and market demand .average sales price realizations for pulp decreased .lower input costs for wood and purchased fiber were partially offset by higher costs for energy , chemicals and packaging .freight costs were also higher .planned maintenance downtime costs were higher due to executing a significant once-every-ten-years maintenance outage plus the regularly scheduled 18-month outage at the saillat mill while outage costs in russia and poland were lower .manufacturing operating costs were favor- entering 2013 , sales volumes in the first quarter are expected to be seasonally weaker in russia , but about flat in europe .average sales price realizations for uncoated freesheet paper are expected to decrease in europe , but increase in russia .input costs should be higher in russia , especially for wood and energy , but be slightly lower in europe .no maintenance outages are scheduled for the first quarter .ind ian papers includes the results of andhra pradesh paper mills ( appm ) of which a 75% ( 75 % ) interest was acquired on october 14 , 2011 .net sales were $ 185 million in 2012 and $ 35 million in 2011 .operat- ing profits were a loss of $ 16 million in 2012 and a loss of $ 3 million in 2011 .asian pr int ing papers net sales were $ 85 mil- lion in 2012 , $ 75 million in 2011 and $ 80 million in 2010 .operating profits were improved from break- even in past years to $ 1 million in 2012 .u.s .pulp net sales were $ 725 million in 2012 compared with $ 725 million in 2011 and $ 715 million in 2010 .operating profits were a loss of $ 59 million in 2012 compared with gains of $ 87 million in 2011 and $ 107 million in 2010 .sales volumes in 2012 increased from 2011 primarily due to the start-up of pulp production at the franklin mill in the third quarter of 2012 .average sales price realizations were significantly lower for both fluff pulp and market pulp .input costs were lower , primarily for wood and energy .freight costs were slightly lower .mill operating costs were unfavorable primarily due to costs associated with the start-up of the franklin mill .planned maintenance downtime costs were lower .in the first quarter of 2013 , sales volumes are expected to be flat with the fourth quarter of 2012 .average sales price realizations are expected to improve reflecting the realization of sales price increases for paper and tissue pulp that were announced in the fourth quarter of 2012 .input costs should be flat .planned maintenance downtime costs should be about $ 9 million higher than in the fourth quarter of 2012 .manufacturing costs related to the franklin mill should be lower as we continue to improve operations .consumer packaging demand and pricing for consumer packaging prod- ucts correlate closely with consumer spending and general economic activity .in addition to prices and volumes , major factors affecting the profitability of consumer packaging are raw material and energy costs , freight costs , manufacturing efficiency and product mix .consumer packaging net sales in 2012 decreased 15% ( 15 % ) from 2011 and 7% ( 7 % ) from 2010 .operating profits increased 64% ( 64 % ) from 2011 and 29% ( 29 % ) from 2010 .net sales and operating profits include the shorewood business in 2011 and 2010 .exclud- ing asset impairment and other charges associated with the sale of the shorewood business , and facility closure costs , 2012 operating profits were 27% ( 27 % ) lower than in 2011 , but 23% ( 23 % ) higher than in 2010 .benefits from lower raw material costs ( $ 22 million ) , lower maintenance outage costs ( $ 5 million ) and other items ( $ 2 million ) were more than offset by lower sales price realizations and an unfavorable product mix ( $ 66 million ) , lower sales volumes and increased market-related downtime ( $ 22 million ) , and higher operating costs ( $ 40 million ) .in addition , operating profits in 2012 included a gain of $ 3 million related to the sale of the shorewood business while operating profits in 2011 included a $ 129 million fixed asset impairment charge for the north ameri- can shorewood business and $ 72 million for other charges associated with the sale of the shorewood business .consumer packaging .
[['in millions', '2012', '2011', '2010'], ['sales', '$ 3170', '$ 3710', '$ 3400'], ['operating profit', '268', '163', '207']]
north american consumer packaging net sales were $ 2.0 billion in 2012 compared with $ 2.5 billion in 2011 and $ 2.4 billion in 2010 .operating profits were $ 165 million ( $ 162 million excluding a gain related to the sale of the shorewood business ) in 2012 compared with $ 35 million ( $ 236 million excluding asset impairment and other charges asso- ciated with the sale of the shorewood business ) in 2011 and $ 97 million ( $ 105 million excluding facility closure costs ) in 2010 .coated paperboard sales volumes in 2012 were lower than in 2011 reflecting weaker market demand .average sales price realizations were lower , primar- ily for folding carton board .input costs for wood increased , but were partially offset by lower costs for chemicals and energy .planned maintenance down- time costs were slightly lower .market-related down- time was about 113000 tons in 2012 compared with about 38000 tons in 2011. .
|
what was the average net sales in 2011 and 2012 in millions
|
110
|
{
"answer": "110",
"decimal": 110,
"type": "float"
}
| |
table of contents item 1b .unresolved staff comments we have no unresolved sec staff comments to report .item 2 .properties as of december 31 , 2015 , we owned or leased 126 major manufacturing sites and 14 major technical centers .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 .we have a presence in 44 countries .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', '30', '32', '25', '5', '92'], ['powertrain systems', '4', '10', '5', '2', '21'], ['electronics and safety', '3', '7', '3', '2014', '13'], ['total', '37', '49', '33', '7', '126']]
in addition to these manufacturing sites , we had 14 major technical centers : four in north america ; five in europe , middle east and africa ; four in asia pacific ; and one in south america .of our 126 major manufacturing sites and 14 major technical centers , which include facilities owned or leased by our consolidated subsidiaries , 77 are primarily owned and 63 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 received requests for information from , and cooperated with , various government agencies related to this ignition switch recall .in addition , delphi was initially named as a co-defendant along with gm ( and in certain cases other parties ) in class action and product liability lawsuits related to this matter .as of december 31 , 2015 , delphi was not named as a defendant in any class action complaints .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 , 2015 .unsecured creditors litigation the fourth amended and restated limited liability partnership agreement of delphi automotive llp ( the 201cfourth llp agreement 201d ) was entered into on july 12 , 2011 by the members of delphi automotive llp in order to position the company for its initial public offering .under the terms of the fourth llp agreement , 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 dphh $ 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 .
|
what is the percentage of electrical/electronic architecture sites among all sites?
|
73.01%
|
{
"answer": "73.01%",
"decimal": 0.7301000000000001,
"type": "percentage"
}
|
it is the number of electrical/electronic architecture sites divided by all sites , then turned into a percentage .
|
appropriate statistical bases .total expense for repairs and maintenance incurred was $ 2.5 billion for 2015 , $ 2.4 billion for 2014 , and $ 2.3 billion for 2013 .assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .13 .accounts payable and other current liabilities dec .31 , dec .31 , millions 2015 2014 .
[['millions', 'dec . 31 2015', 'dec . 31 2014'], ['accounts payable', '$ 743', '$ 877'], ['income and other taxes payable', '434', '412'], ['accrued wages and vacation', '391', '409'], ['interest payable', '208', '178'], ['accrued casualty costs', '181', '249'], ['equipment rents payable', '105', '100'], ['dividends payable [a]', '-', '438'], ['other', '550', '640'], ['total accounts payable and other current liabilities', '$ 2612', '$ 3303']]
[a] beginning in 2015 , the timing of the dividend declaration and payable dates was aligned to occur within the same quarter .the 2015 dividends paid amount includes the fourth quarter 2014 dividend of $ 438 million , which was paid on january 2 , 2015 , the first quarter 2015 dividend of $ 484 million , which was paid on march 30 , 2015 , the second quarter 2015 dividend of $ 479 million , which was paid on june 30 , 2015 , the third quarter 2015 dividend of $ 476 million , which was paid on september 30 , 2015 , as well as the fourth quarter 2015 dividend of $ 467 million , which was paid on december 30 , 2015 .14 .financial instruments strategy and risk 2013 we may use derivative financial instruments in limited instances for other than trading purposes to assist in managing our overall exposure to fluctuations in interest rates and fuel prices .we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes .derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period .we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk- management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness .changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings .we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable interest rate and fuel price movements .market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item .we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements .at december 31 , 2015 , and 2014 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities .interest rate fair value hedges 2013 we manage our overall exposure to fluctuations in interest rates by adjusting the proportion of fixed and floating rate debt instruments within our debt portfolio over a given period .we generally manage the mix of fixed and floating rate debt through the issuance of targeted amounts of each as debt matures or as we require incremental borrowings .we employ derivatives , primarily swaps , as one of the tools to obtain the targeted mix .in addition , we also obtain flexibility in managing interest costs and the interest rate mix within our debt portfolio by evaluating the issuance of and managing outstanding callable fixed-rate debt securities .swaps allow us to convert debt from fixed rates to variable rates and thereby hedge the risk of changes in the debt 2019s fair value attributable to the changes in interest rates .we account for swaps as fair value hedges using the short-cut method ; therefore , we do not record any ineffectiveness within our .
|
what was the percentage change in accrued wages and vacation from 2014 to 2015?
|
-4%
|
{
"answer": "-4%",
"decimal": -0.04,
"type": "percentage"
}
| |
lkq corporation and subsidiaries notes to consolidated financial statements ( continued ) note 8 .restructuring and integration costs ( continued ) levels and the closure of excess facilities .to the extent these restructuring activities are associated with keystone operations , they are being accounted for in accordance with eitf issue no .95-3 , 2018 2018recognition of liabilities in connection with a purchase business combination . 2019 2019 restructuring activities associated with our existing operations are being accounted for in accordance with sfas no .146 , 2018 2018accounting for costs associated with exit or disposal activities . 2019 2019 in connection with the keystone restructuring activities , as part of the cost of the acquisition , we established reserves as detailed below .in accordance with eitf issue no .95-3 , we intend to finalize our restructuring plans no later than one year from the date of our acquisition of keystone .upon finalization of restructuring plans or settlement of obligations for less than the expected amount , any excess reserves will be reversed with a corresponding decrease in goodwill .accrued acquisition expenses are included in other accrued expenses in the accompanying consolidated balance sheets .the changes in accrued acquisition expenses directly related to the keystone acquisition during 2007 are as follows ( in thousands ) : severance excess related costs facility costs other total .
[['', 'severance related costs', 'excess facility costs', 'other', 'total'], ['reserves established', '$ 11233', '$ 2823', '$ 488', '$ 14544'], ['payments', '-1727 ( 1727 )', '-85 ( 85 )', '-488 ( 488 )', '-2300 ( 2300 )'], ['balance at december 31 2007', '$ 9506', '$ 2738', '$ 2014', '$ 12244']]
restructuring and integration costs associated with our existing operations are included in restructuring expenses on the accompanying consolidated statements of income .note 9 .related party transactions we sublease a portion of our corporate office space to an entity owned by the son of one of our principal stockholders for a pro rata percentage of the rent that we are charged .the total amounts received from this entity were approximately $ 54000 , $ 70000 and $ 49000 during the years ended december 31 , 2007 , 2006 and 2005 , respectively .we also paid this entity approximately $ 0.4 million during 2007 for consulting fees incurred in connection with our new secured debt facility .a corporation owned by our chairman of the board , who is also one of our principal stockholders , owns private aircraft that we use from time to time for business trips .we reimburse this corporation for out-of-pocket and other related flight expenses , as well as for other direct expenses incurred .the total amounts paid to this corporation were approximately $ 102000 , $ 6400 and $ 122000 during each of the years ended december 31 , 2007 , 2006 and 2005 , respectively .in connection with the acquisitions of several businesses , we entered into agreements with several sellers of those businesses , who became stockholders as a result of those acquisitions , for the lease of certain properties used in our operations .typical lease terms include an initial term of five years , with three five-year renewal options and purchase options at various times throughout the lease periods .we also maintain the right of first refusal concerning the sale of the leased property .lease payments to a principal stockholder who became an officer of the company after the acquisition of his business were approximately $ 0.8 million during each of the years ended december 31 , 2007 , 2006 and 2005 , respectively. .
|
what was the average we sublease rental income from 2005 to 2007
|
57667
|
{
"answer": "57667",
"decimal": 57667,
"type": "float"
}
| |
table of contents the following performance graph is not 201csoliciting material , 201d is not deemed filed with the sec , and is not to be incorporated by reference into any of valero 2019s filings under the securities act of 1933 or the securities exchange act of 1934 , as amended , respectively .this performance graph and the related textual information are based on historical data and are not indicative of future performance .the following line graph compares the cumulative total return 1 on an investment in our common stock against the cumulative total return of the s&p 500 composite index and an index of peer companies ( that we selected ) for the five-year period commencing december 31 , 2007 and ending december 31 , 2012 .our peer group consists of the following ten companies : alon usa energy , inc. ; bp plc ( bp ) ; cvr energy , inc. ; hess corporation ; hollyfrontier corporation ; marathon petroleum corporation ; phillips 66 ( psx ) ; royal dutch shell plc ( rds ) ; tesoro corporation ; and western refining , inc .our peer group previously included chevron corporation ( cvx ) and exxon mobil corporation ( xom ) but they were replaced with bp , psx , and rds .in 2012 , psx became an independent downstream energy company and was added to our peer group .cvx and xom were replaced with bp and rds as they were viewed as having operations that more closely aligned with our core businesses .comparison of 5 year cumulative total return1 among valero energy corporation , the s&p 500 index , old peer group , and new peer group .
[['', '12/2007', '12/2008', '12/2009', '12/2010', '12/2011', '12/2012'], ['valero common stock', '$ 100.00', '$ 31.45', '$ 25.09', '$ 35.01', '$ 32.26', '$ 53.61'], ['s&p 500', '100.00', '63.00', '79.67', '91.67', '93.61', '108.59'], ['old peer group', '100.00', '80.98', '76.54', '88.41', '104.33', '111.11'], ['new peer group', '100.00', '66.27', '86.87', '72.84', '74.70', '76.89']]
____________ 1 assumes that an investment in valero common stock and each index was $ 100 on december 31 , 2007 .201ccumulative total return 201d is based on share price appreciation plus reinvestment of dividends from december 31 , 2007 through december 31 , 2012. .
|
what was the biggest decline , in percentage , from 2007-2008 , among the four groups?
|
68.55%
|
{
"answer": "68.55%",
"decimal": 0.6855,
"type": "percentage"
}
| |
analog devices , inc .notes to consolidated financial statements 2014 ( continued ) the following is a schedule of future minimum rental payments required under long-term operating leases at october 31 , operating fiscal years leases .
[['fiscal years', 'operating leases'], ['2016', '$ 21780'], ['2017', '16305'], ['2018', '8670'], ['2019', '4172'], ['2020', '3298'], ['later years', '5263'], ['total', '$ 59488']]
12 .commitments and contingencies from time to time , in the ordinary course of the company 2019s business , various claims , charges and litigation are asserted or commenced against the company arising from , or related to , contractual matters , patents , trademarks , personal injury , environmental matters , product liability , insurance coverage and personnel and employment disputes .as to such claims and litigation , the company can give no assurance that it will prevail .the company does not believe that any current legal matters will have a material adverse effect on the company 2019s financial position , results of operations or cash flows .13 .retirement plans the company and its subsidiaries have various savings and retirement plans covering substantially all employees .the company maintains a defined contribution plan for the benefit of its eligible u.s .employees .this plan provides for company contributions of up to 5% ( 5 % ) of each participant 2019s total eligible compensation .in addition , the company contributes an amount equal to each participant 2019s pre-tax contribution , if any , up to a maximum of 3% ( 3 % ) of each participant 2019s total eligible compensation .the total expense related to the defined contribution plan for u.s .employees was $ 26.3 million in fiscal 2015 , $ 24.1 million in fiscal 2014 and $ 23.1 million in fiscal 2013 .the company also has various defined benefit pension and other retirement plans for certain non-u.s .employees that are consistent with local statutory requirements and practices .the total expense related to the various defined benefit pension and other retirement plans for certain non-u.s .employees , excluding settlement charges related to the company's irish defined benefit plan , was $ 33.3 million in fiscal 2015 , $ 29.8 million in fiscal 2014 and $ 26.5 million in fiscal 2013 .non-u.s .plan disclosures during fiscal 2015 , the company converted the benefits provided to participants in the company 2019s irish defined benefits pension plan ( the db plan ) to benefits provided under the company 2019s irish defined contribution plan .as a result , in fiscal 2015 the company recorded expenses of $ 223.7 million , including settlement charges , legal , accounting and other professional fees to settle the pension obligation .the assets related to the db plan were liquidated and used to purchase annuities for retirees and distributed to active and deferred members' accounts in the company's irish defined contribution plan in connection with the plan conversion .accordingly , plan assets for the db plan were zero as of the end of fiscal 2015 .the company 2019s funding policy for its foreign defined benefit pension plans is consistent with the local requirements of each country .the plans 2019 assets consist primarily of u.s .and non-u.s .equity securities , bonds , property and cash .the benefit obligations and related assets under these plans have been measured at october 31 , 2015 and november 1 , 2014 .components of net periodic benefit cost net annual periodic pension cost of non-u.s .plans is presented in the following table: .
|
what percent of the leases was paid off in 2016?
|
36.6%
|
{
"answer": "36.6%",
"decimal": 0.366,
"type": "percentage"
}
|
to find the percentage that was paid off in the first year one must divide the payment the first year by the total amount . this gives you the percentage that was paid off that year .
|
a wholly-owned subsidiary of the company is a registered life insurance company that maintains separate account assets , representing segregated funds held for purposes of funding individual and group pension contracts , and equal and offsetting separate account liabilities .at decem - ber 31 , 2008 and 2007 , the level 3 separate account assets were approximately $ 4 and $ 12 , respectively .the changes in level 3 assets primarily relate to purchases , sales and gains/ ( losses ) .the net investment income and net gains and losses attributable to separate account assets accrue directly to the contract owner and are not reported as non-operating income ( expense ) on the consolidated statements of income .level 3 assets , which includes equity method investments or consolidated investments of real estate funds , private equity funds and funds of private equity funds are valued based upon valuations received from internal as well as third party fund managers .fair valuations at the underlying funds are based on a combination of methods which may include third-party independent appraisals and discounted cash flow techniques .direct investments in private equity companies held by funds of private equity funds are valued based on an assessment of each under - lying investment , incorporating evaluation of additional significant third party financing , changes in valuations of comparable peer companies and the business environment of the companies , among other factors .see note 2 for further detail on the fair value policies by the underlying funds .changes in level 3 assets measured at fair value on a recurring basis for the year ended december 31 , 2008 .
[['', 'investments', 'other assets'], ['december 31 2007', '$ 1240', '$ 2014'], ['realized and unrealized gains / ( losses ) net', '-409 ( 409 )', '-16 ( 16 )'], ['purchases sales other settlements and issuances net', '11', '2'], ['net transfers in and/or out of level 3', '-29 ( 29 )', '78'], ['december 31 2008', '$ 813', '$ 64'], ['total net ( losses ) for the period included in earnings attributable to the change in unrealized gains or ( losses ) relating to assets stillheld at the reporting date', '$ -366 ( 366 )', '$ -17 ( 17 )']]
total net ( losses ) for the period included in earnings attributable to the change in unrealized gains or ( losses ) relating to assets still held at the reporting date $ ( 366 ) $ ( 17 ) realized and unrealized gains and losses recorded for level 3 assets are reported in non-operating income ( expense ) on the consolidated statements of income .non-controlling interest expense is recorded for consoli- dated investments to reflect the portion of gains and losses not attributable to the company .the company transfers assets in and/or out of level 3 as significant inputs , including performance attributes , used for the fair value measurement become observable .6 .variable interest entities in the normal course of business , the company is the manager of various types of sponsored investment vehicles , including collateralized debt obligations and sponsored investment funds , that may be considered vies .the company receives management fees or other incen- tive related fees for its services and may from time to time own equity or debt securities or enter into derivatives with the vehicles , each of which are considered variable inter- ests .the company engages in these variable interests principally to address client needs through the launch of such investment vehicles .the vies are primarily financed via capital contributed by equity and debt holders .the company 2019s involvement in financing the operations of the vies is limited to its equity interests , unfunded capital commitments for certain sponsored investment funds and its capital support agreements for two enhanced cash funds .the primary beneficiary of a vie is the party that absorbs a majority of the entity 2019s expected losses , receives a major - ity of the entity 2019s expected residual returns or both as a result of holding variable interests .in order to determine whether the company is the primary beneficiary of a vie , management must make significant estimates and assumptions of probable future cash flows and assign probabilities to different cash flow scenarios .assumptions made in such analyses include , but are not limited to , market prices of securities , market interest rates , poten- tial credit defaults on individual securities or default rates on a portfolio of securities , gain realization , liquidity or marketability of certain securities , discount rates and the probability of certain other outcomes .vies in which blackrock is the primary beneficiary at december 31 , 2008 , the company was the primary beneficiary of three vies , which resulted in consolidation of three sponsored investment funds ( including two cash management funds and one private equity fund of funds ) .creditors of the vies do not have recourse to the credit of the company .during 2008 , the company determined it became the primary beneficiary of two enhanced cash management funds as a result of concluding that under various cash 177528_txt_59_96:layout 1 3/26/09 10:32 pm page 73 .
|
what is the percentage change in the balance of level 3 investments assets from 2007 to 2008?
|
-34.4%
|
{
"answer": "-34.4%",
"decimal": -0.344,
"type": "percentage"
}
| |
the second largest closed-end fund manager and a top- ten manager by aum and 2013 net flows of long-term open-end mutual funds1 .in 2013 , we were also the leading manager by net flows for long-dated fixed income mutual funds1 .2022 we have fully integrated our legacy retail and ishares retail distribution teams to create a unified client-facing presence .as retail clients increasingly use blackrock 2019s capabilities in combination 2014 active , alternative and passive 2014 it is a strategic priority for blackrock to coherently deliver these capabilities through one integrated team .2022 international retail long-term net inflows of $ 17.5 billion , representing 15% ( 15 % ) organic growth , were positive across major regions and diversified across asset classes .equity net inflows of $ 6.4 billion were driven by strong demand for our top-performing european equities franchise as investor risk appetite for the sector improved .multi-asset class and fixed income products each generated net inflows of $ 4.8 billion , as investors looked to manage duration and volatility in their portfolios .in 2013 , we were ranked as the third largest cross border fund provider2 .in the united kingdom , we ranked among the five largest fund managers2 .ishares .
[['( in millions )', 'component changes in aum 2014 ishares 12/31/2012', 'component changes in aum 2014 ishares net new business', 'component changes in aum 2014 ishares acquisition ( 1 )', 'component changes in aum 2014 ishares market / fx', 'component changes in aum 2014 ishares 12/31/2013'], ['equity', '$ 534648', '$ 74119', '$ 13021', '$ 96347', '$ 718135'], ['fixed income', '192852', '-7450 ( 7450 )', '1294', '-7861 ( 7861 )', '178835'], ['multi-asset class', '869', '355', '2014', '86', '1310'], ['alternatives ( 2 )', '24337', '-3053 ( 3053 )', '1645', '-6837 ( 6837 )', '16092'], ['total ishares', '$ 752706', '$ 63971', '$ 15960', '$ 81735', '$ 914372']]
alternatives ( 2 ) 24337 ( 3053 ) 1645 ( 6837 ) 16092 total ishares $ 752706 $ 63971 $ 15960 $ 81735 $ 914372 ( 1 ) amounts represent $ 16.0 billion of aum acquired in the credit suisse etf acquisition in july 2013 .( 2 ) amounts include commodity ishares .ishares is the leading etf provider in the world , with $ 914.4 billion of aum at december 31 , 2013 , and was the top asset gatherer globally in 20133 with $ 64.0 billion of net inflows for an organic growth rate of 8% ( 8 % ) .equity net inflows of $ 74.1 billion were driven by flows into funds with broad developed market exposures , partially offset by outflows from emerging markets products .ishares fixed income experienced net outflows of $ 7.5 billion , as the continued low interest rate environment led many liquidity-oriented investors to sell long-duration assets , which made up the majority of the ishares fixed income suite .in 2013 , we launched several funds to meet demand from clients seeking protection in a rising interest rate environment by offering an expanded product set that includes four new u.s .funds , including short-duration versions of our flagship high yield and investment grade credit products , and short maturity and liquidity income funds .ishares alternatives had $ 3.1 billion of net outflows predominantly out of commodities .ishares represented 23% ( 23 % ) of long-term aum at december 31 , 2013 and 35% ( 35 % ) of long-term base fees for ishares offers the most diverse product set in the industry with 703 etfs at year-end 2013 , and serves the broadest client base , covering more than 25 countries on five continents .during 2013 , ishares continued its dual commitment to innovation and responsible product structuring by introducing 42 new etfs , acquiring credit suisse 2019s 58 etfs in europe and entering into a critical new strategic alliance with fidelity investments to deliver fidelity 2019s more than 10 million clients increased access to ishares products , tools and support .our alliance with fidelity investments and a successful full first year for the core series have deeply expanded our presence and offerings among buy-and-hold investors .our broad product range offers investors a precise , transparent and low-cost way to tap market returns and gain access to a full range of asset classes and global markets that have been difficult or expensive for many investors to access until now , as well as the liquidity required to make adjustments to their exposures quickly and cost-efficiently .2022 u.s .ishares aum ended at $ 655.6 billion with $ 41.4 billion of net inflows driven by strong demand for developed markets equities and short-duration fixed income .during the fourth quarter of 2012 , we debuted the core series in the united states , designed to provide the essential building blocks for buy-and-hold investors to use in constructing the core of their portfolio .the core series demonstrated solid results in its first full year , raising $ 20.0 billion in net inflows , primarily in u.s .equities .in the united states , ishares maintained its position as the largest etf provider , with 39% ( 39 % ) share of aum3 .2022 international ishares aum ended at $ 258.8 billion with robust net new business of $ 22.6 billion led by demand for european and japanese equities , as well as a diverse range of fixed income products .at year-end 2013 , ishares was the largest european etf provider with 48% ( 48 % ) of aum3 .1 simfund 2 lipper feri 3 blackrock ; bloomberg .
|
what portion of the total ishares managed by blackrock is composed of fixed income assets as of december 31 , 2013?
|
19.6%
|
{
"answer": "19.6%",
"decimal": 0.196,
"type": "percentage"
}
| |
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. .
|
what is the average of future expenditures , in thousands , from 2017-2021?
|
7483
|
{
"answer": "7483",
"decimal": 7483,
"type": "float"
}
| |
compared with $ 6.2 billion in 2013 .operating profits in 2015 were significantly higher than in both 2014 and 2013 .excluding facility closure costs , impairment costs and other special items , operating profits in 2015 were 3% ( 3 % ) lower than in 2014 and 4% ( 4 % ) higher than in 2013 .benefits from lower input costs ( $ 18 million ) , lower costs associated with the closure of our courtland , alabama mill ( $ 44 million ) and favorable foreign exchange ( $ 33 million ) were offset by lower average sales price realizations and mix ( $ 52 million ) , lower sales volumes ( $ 16 million ) , higher operating costs ( $ 18 million ) and higher planned maintenance downtime costs ( $ 26 million ) .in addition , operating profits in 2014 include special items costs of $ 554 million associated with the closure of our courtland , alabama mill .during 2013 , the company accelerated depreciation for certain courtland assets , and evaluated certain other assets for possible alternative uses by one of our other businesses .the net book value of these assets at december 31 , 2013 was approximately $ 470 million .in the first quarter of 2014 , we completed our evaluation and concluded that there were no alternative uses for these assets .we recognized approximately $ 464 million of accelerated depreciation related to these assets in 2014 .operating profits in 2014 also include a charge of $ 32 million associated with a foreign tax amnesty program , and a gain of $ 20 million for the resolution of a legal contingency in india , while operating profits in 2013 included costs of $ 118 million associated with the announced closure of our courtland , alabama mill and a $ 123 million impairment charge associated with goodwill and a trade name intangible asset in our india papers business .printing papers .
[['in millions', '2015', '2014', '2013'], ['sales', '$ 5031', '$ 5720', '$ 6205'], ['operating profit ( loss )', '533', '-16 ( 16 )', '271']]
north american printing papers net sales were $ 1.9 billion in 2015 , $ 2.1 billion in 2014 and $ 2.6 billion in 2013 .operating profits in 2015 were $ 179 million compared with a loss of $ 398 million ( a gain of $ 156 million excluding costs associated with the shutdown of our courtland , alabama mill ) in 2014 and a gain of $ 36 million ( $ 154 million excluding costs associated with the courtland mill shutdown ) in 2013 .sales volumes in 2015 decreased compared with 2014 primarily due to the closure of our courtland mill in 2014 .shipments to the domestic market increased , but export shipments declined .average sales price realizations decreased , primarily in the domestic market .input costs were lower , mainly for energy .planned maintenance downtime costs were $ 12 million higher in 2015 .operating profits in 2014 were negatively impacted by costs associated with the shutdown of our courtland , alabama mill .entering the first quarter of 2016 , sales volumes are expected to be up slightly compared with the fourth quarter of 2015 .average sales margins should be about flat reflecting lower average sales price realizations offset by a more favorable product mix .input costs are expected to be stable .planned maintenance downtime costs are expected to be about $ 14 million lower with an outage scheduled in the 2016 first quarter at our georgetown mill compared with outages at our eastover and riverdale mills in the 2015 fourth quarter .in january 2015 , the united steelworkers , domtar corporation , packaging corporation of america , finch paper llc and p .h .glatfelter company ( the petitioners ) filed an anti-dumping petition before the united states international trade commission ( itc ) and the united states department of commerce ( doc ) alleging that paper producers in china , indonesia , australia , brazil , and portugal are selling uncoated free sheet paper in sheet form ( the products ) in violation of international trade rules .the petitioners also filed a countervailing-duties petition with these agencies regarding imports of the products from china and indonesia .in january 2016 , the doc announced its final countervailing duty rates on imports of the products to the united states from certain producers from china and indonesia .also , in january 2016 , the doc announced its final anti-dumping duty rates on imports of the products to the united states from certain producers from australia , brazil , china , indonesia and portugal .in february 2016 , the itc concluded its anti- dumping and countervailing duties investigations and made a final determination that the u.s .market had been injured by imports of the products .accordingly , the doc 2019s previously announced countervailing duty rates and anti-dumping duty rates will be in effect for a minimum of five years .we do not believe the impact of these rates will have a material , adverse effect on our consolidated financial statements .brazilian papers net sales for 2015 were $ 878 million compared with $ 1.1 billion in 2014 and $ 1.1 billion in 2013 .operating profits for 2015 were $ 186 million compared with $ 177 million ( $ 209 million excluding costs associated with a tax amnesty program ) in 2014 and $ 210 million in 2013 .sales volumes in 2015 were lower compared with 2014 reflecting weak economic conditions and the absence of 2014 one-time events .average sales price realizations improved for domestic uncoated freesheet paper due to the realization of price increases implemented in the second half of 2015 .margins were unfavorably affected by an increased proportion of sales to the lower-margin export markets .raw material costs increased for energy and wood .operating costs were higher than in 2014 , while planned maintenance downtime costs were $ 4 million lower. .
|
what was the profit margin from printing papers in 2013
|
4.4%
|
{
"answer": "4.4%",
"decimal": 0.044000000000000004,
"type": "percentage"
}
| |
operating expenses millions 2013 2012 2011 % ( % ) change 2013 v 2012 % ( % ) change 2012 v 2011 .
[['millions', '2013', '2012', '2011', '% ( % ) change 2013 v 2012', '% ( % ) change 2012 v 2011'], ['compensation and benefits', '$ 4807', '$ 4685', '$ 4681', '3 % ( % )', '-% ( - % )'], ['fuel', '3534', '3608', '3581', '-2 ( 2 )', '1'], ['purchased services and materials', '2315', '2143', '2005', '8', '7'], ['depreciation', '1777', '1760', '1617', '1', '9'], ['equipment and other rents', '1235', '1197', '1167', '3', '3'], ['other', '849', '788', '782', '8', '1'], ['total', '$ 14517', '$ 14181', '$ 13833', '2 % ( % )', '3% ( 3 % )']]
operating expenses increased $ 336 million in 2013 versus 2012 .wage and benefit inflation , new logistics management fees and container costs for our automotive business , locomotive overhauls , property taxes and repairs on jointly owned property contributed to higher expenses during the year .lower fuel prices partially offset the cost increases .operating expenses increased $ 348 million in 2012 versus 2011 .depreciation , wage and benefit inflation , higher fuel prices and volume- related trucking services purchased by our logistics subsidiaries , contributed to higher expenses during the year .efficiency gains , volume related fuel savings ( 2% ( 2 % ) fewer gallons of fuel consumed ) and $ 38 million of weather related expenses in 2011 , which favorably affects the comparison , partially offset the cost increase .compensation and benefits 2013 compensation and benefits include wages , payroll taxes , health and welfare costs , pension costs , other postretirement benefits , and incentive costs .general wages and benefits inflation , higher work force levels and increased pension and other postretirement benefits drove the increases in 2013 versus 2012 .the impact of ongoing productivity initiatives partially offset these increases .expenses in 2012 were essentially flat versus 2011 as operational improvements and cost reductions offset general wage and benefit inflation and higher pension and other postretirement benefits .in addition , weather related costs increased these expenses in 2011 .fuel 2013 fuel includes locomotive fuel and gasoline for highway and non-highway vehicles and heavy equipment .lower locomotive diesel fuel prices , which averaged $ 3.15 per gallon ( including taxes and transportation costs ) in 2013 , compared to $ 3.22 in 2012 , decreased expenses by $ 75 million .volume , as measured by gross ton-miles , decreased 1% ( 1 % ) while the fuel consumption rate , computed as gallons of fuel consumed divided by gross ton-miles , increased 2% ( 2 % ) compared to 2012 .declines in heavier , more fuel-efficient coal shipments drove the variances in gross-ton-miles and the fuel consumption rate .higher locomotive diesel fuel prices , which averaged $ 3.22 per gallon ( including taxes and transportation costs ) in 2012 , compared to $ 3.12 in 2011 , increased expenses by $ 105 million .volume , as measured by gross ton-miles , decreased 2% ( 2 % ) in 2012 versus 2011 , driving expense down .the fuel consumption rate was flat year-over-year .purchased services and materials 2013 expense for purchased services and materials includes the costs of services purchased from outside contractors and other service providers ( including equipment maintenance and contract expenses incurred by our subsidiaries for external transportation services ) ; materials used to maintain the railroad 2019s lines , structures , and equipment ; costs of operating facilities jointly used by uprr and other railroads ; transportation and lodging for train crew employees ; trucking and contracting costs for intermodal containers ; leased automobile maintenance expenses ; and tools and 2013 operating expenses .
|
what percentage of total operating expenses was fuel in 2012?
|
25%
|
{
"answer": "25%",
"decimal": 0.25,
"type": "percentage"
}
| |
74 2012 ppg annual report and form 10-k 25 .separation and merger transaction on january , 28 , 2013 , the company completed the previously announced separation of its commodity chemicals business and merger of its wholly-owned subsidiary , eagle spinco inc. , with a subsidiary of georgia gulf corporation in a tax efficient reverse morris trust transaction ( the 201ctransaction 201d ) .pursuant to the merger , eagle spinco , the entity holding ppg's former commodity chemicals business , is now a wholly-owned subsidiary of georgia gulf .the closing of the merger followed the expiration of the related exchange offer and the satisfaction of certain other conditions .the combined company formed by uniting georgia gulf with ppg's former commodity chemicals business is named axiall corporation ( 201caxiall 201d ) .ppg holds no ownership interest in axiall .ppg received the necessary ruling from the internal revenue service and as a result this transaction was generally tax free to ppg and its shareholders .under the terms of the exchange offer , 35249104 shares of eagle spinco common stock were available for distribution in exchange for shares of ppg common stock accepted in the offer .following the merger , each share of eagle spinco common stock automatically converted into the right to receive one share of axiall corporation common stock .accordingly , ppg shareholders who tendered their shares of ppg common stock as part of this offer received 3.2562 shares of axiall common stock for each share of ppg common stock accepted for exchange .ppg was able to accept the maximum of 10825227 shares of ppg common stock for exchange in the offer , and thereby , reduced its outstanding shares by approximately 7% ( 7 % ) .under the terms of the transaction , ppg received $ 900 million of cash and 35.2 million shares of axiall common stock ( market value of $ 1.8 billion on january 25 , 2013 ) which was distributed to ppg shareholders by the exchange offer as described above .the cash consideration is subject to customary post-closing adjustment , including a working capital adjustment .in the transaction , ppg transferred environmental remediation liabilities , defined benefit pension plan assets and liabilities and other post-employment benefit liabilities related to the commodity chemicals business to axiall .ppg will report a gain on the transaction reflecting the excess of the sum of the cash proceeds received and the cost ( closing stock price on january 25 , 2013 ) of the ppg shares tendered and accepted in the exchange for the 35.2 million shares of axiall common stock over the net book value of the net assets of ppg's former commodity chemicals business .the transaction will also result in a net partial settlement loss associated with the spin out and termination of defined benefit pension liabilities and the transfer of other post-retirement benefit liabilities under the terms of the transaction .during 2012 , the company incurred $ 21 million of pretax expense , primarily for professional services , related to the transaction .additional transaction-related expenses will be incurred in 2013 .ppg will report the results of its commodity chemicals business for january 2013 and a net gain on the transaction as results from discontinued operations when it reports its results for the quarter ending march 31 , 2013 .in the ppg results for prior periods , presented for comparative purposes beginning with the first quarter 2013 , the results of its former commodity chemicals business will be reclassified from continuing operations and presented as the results from discontinued operations .the net sales and income before income taxes of the commodity chemicals business that will be reclassified and reported as discontinued operations are presented in the table below for the years ended december 31 , 2012 , 2011 and 2010: .
[['millions', 'year-ended 2012', 'year-ended 2011', 'year-ended 2010'], ['net sales', '$ 1700', '$ 1741', '$ 1441'], ['income before income taxes', '$ 368', '$ 376', '$ 187']]
income before income taxes for the year ended december 31 , 2012 , 2011 and 2010 is $ 4 million lower , $ 6 million higher and $ 2 million lower , respectively , than segment earnings for the ppg commodity chemicals segment reported for these periods .these differences are due to the inclusion of certain gains , losses and expenses associated with the chlor-alkali and derivatives business that were not reported in the ppg commodity chemicals segment earnings in accordance with the accounting guidance on segment reporting .table of contents notes to the consolidated financial statements .
|
what was the percentage change in net sales of the commodity chemicals business that will be reclassified and reported as discontinued operations from 2010 to 2011?
|
21%
|
{
"answer": "21%",
"decimal": 0.21,
"type": "percentage"
}
| |
cases ; ( ii ) management is unable to estimate the possible loss or range of loss that could result from an unfavorable outcome in any of the pending tobacco-related cases ; and ( iii ) accordingly , management has not provided any amounts in the consolidated financial statements for unfavorable outcomes , if any .legal defense costs are expensed as incurred .altria group , inc .and its subsidiaries have achieved substantial success in managing litigation .nevertheless , litigation is subject to uncertainty and significant challenges remain .it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome or settlement of certain pending litigation .altria group , inc .and each of its subsidiaries named as a defendant believe , and each has been so advised by counsel handling the respective cases , that it has valid defenses to the litigation pending against it , as well as valid bases for appeal of adverse verdicts .each of the companies has defended , and will continue to defend , vigorously against litigation challenges .however , altria group , inc .and its subsidiaries may enter into settlement discussions in particular cases if they believe it is in the best interests of altria group , inc .to do so .overview of altria group , inc .and/or pm usa tobacco-related litigation types and number of cases : claims related to tobacco products generally fall within the following categories : ( i ) smoking and health cases alleging personal injury brought on behalf of individual plaintiffs ; ( ii ) smoking and health cases primarily alleging personal injury or seeking court- supervised programs for ongoing medical monitoring and purporting to be brought on behalf of a class of individual plaintiffs , including cases in which the aggregated claims of a number of individual plaintiffs are to be tried in a single proceeding ; ( iii ) health care cost recovery cases brought by governmental ( both domestic and foreign ) plaintiffs seeking reimbursement for health care expenditures allegedly caused by cigarette smoking and/or disgorgement of profits ; ( iv ) class action suits alleging that the uses of the terms 201clights 201d and 201cultra lights 201d constitute deceptive and unfair trade practices , common law or statutory fraud , unjust enrichment , breach of warranty or violations of the racketeer influenced and corrupt organizations act ( 201crico 201d ) ; and ( v ) other tobacco- related litigation described below .plaintiffs 2019 theories of recovery and the defenses raised in pending smoking and health , health care cost recovery and 201clights/ultra lights 201d cases are discussed below .the table below lists the number of certain tobacco-related cases pending in the united states against pm usa and , in some instances , altria group , inc .as of december 31 , 2014 , december 31 , 2013 and december 31 , 2012 .type of case number of cases pending as of december 31 , 2014 number of cases pending as of december 31 , 2013 number of cases pending as of december 31 , 2012 individual smoking and health cases ( 1 ) 67 67 77 smoking and health class actions and aggregated claims litigation ( 2 ) 5 6 7 health care cost recovery actions ( 3 ) 1 1 1 .
[['type of case', 'number of casespending as ofdecember 31 2014', 'number of casespending as ofdecember 31 2013', 'number of casespending as ofdecember 31 2012'], ['individual smoking and health cases ( 1 )', '67', '67', '77'], ['smoking and health class actions and aggregated claims litigation ( 2 )', '5', '6', '7'], ['health care cost recovery actions ( 3 )', '1', '1', '1'], ['201clights/ultra lights 201d class actions', '12', '15', '14']]
( 1 ) does not include 2558 cases brought by flight attendants seeking compensatory damages for personal injuries allegedly caused by exposure to environmental tobacco smoke ( 201cets 201d ) .the flight attendants allege that they are members of an ets smoking and health class action in florida , which was settled in 1997 ( broin ) .the terms of the court-approved settlement in that case allow class members to file individual lawsuits seeking compensatory damages , but prohibit them from seeking punitive damages .also , does not include individual smoking and health cases brought by or on behalf of plaintiffs in florida state and federal courts following the decertification of the engle case ( discussed below in smoking and health litigation - engle class action ) .( 2 ) includes as one case the 600 civil actions ( of which 346 were actions against pm usa ) that were to be tried in a single proceeding in west virginia ( in re : tobacco litigation ) .the west virginia supreme court of appeals has ruled that the united states constitution did not preclude a trial in two phases in this case .issues related to defendants 2019 conduct and whether punitive damages are permissible were tried in the first phase .trial in the first phase of this case began in april 2013 .in may 2013 , the jury returned a verdict in favor of defendants on the claims for design defect , negligence , failure to warn , breach of warranty , and concealment and declined to find that the defendants 2019 conduct warranted punitive damages .plaintiffs prevailed on their claim that ventilated filter cigarettes should have included use instructions for the period 1964 - 1969 .the second phase , if any , will consist of individual trials to determine liability and compensatory damages on that claim only .in august 2013 , the trial court denied all post-trial motions .the trial court entered final judgment in october 2013 and , in november 2013 , plaintiffs filed their notice of appeal to the west virginia supreme court of appeals .on november 3 , 2014 , the west virginia supreme court of appeals affirmed the final judgment .plaintiffs filed a petition for rehearing with the west virginia supreme court of appeals , which the court denied on january 8 , 2015 .( 3 ) see health care cost recovery litigation - federal government 2019s lawsuit below .altria group , inc .and subsidiaries notes to consolidated financial statements _________________________ altria_mdc_2014form10k_nolinks_crops.pdf 68 2/25/15 5:56 pm .
|
what is the total tobacco-related cases pending in the united states as of december 31 , 2014?
|
85
|
{
"answer": "85",
"decimal": 85,
"type": "float"
}
| |
table of contents valero energy corporation notes to consolidated financial statements ( continued ) 11 .equity share activity activity in the number of shares of common stock and treasury stock was as follows ( in millions ) : common treasury .
[['', 'commonstock', 'treasurystock'], ['balance as of december 31 2015', '673', '-200 ( 200 )'], ['transactions in connection withstock-based compensation plans', '2014', '1'], ['stock purchases under purchase program', '2014', '-23 ( 23 )'], ['balance as of december 31 2016', '673', '-222 ( 222 )'], ['transactions in connection withstock-based compensation plans', '2014', '1'], ['stock purchases under purchase programs', '2014', '-19 ( 19 )'], ['balance as of december 31 2017', '673', '-240 ( 240 )'], ['stock purchases under purchase programs', '2014', '-16 ( 16 )'], ['balance as of december 31 2018', '673', '-256 ( 256 )']]
preferred stock we have 20 million shares of preferred stock authorized with a par value of $ 0.01 per share .no shares of preferred stock were outstanding as of december 31 , 2018 or 2017 .treasury stock we purchase shares of our common stock as authorized under our common stock purchase program ( described below ) and to meet our obligations under employee stock-based compensation plans .on july 13 , 2015 , our board of directors authorized us to purchase $ 2.5 billion of our outstanding common stock with no expiration date , and we completed that program during 2017 .on september 21 , 2016 , our board of directors authorized our purchase of up to an additional $ 2.5 billion with no expiration date , and we completed that program during 2018 .on january 23 , 2018 , our board of directors authorized our purchase of up to an additional $ 2.5 billion ( the 2018 program ) with no expiration date .during the years ended december 31 , 2018 , 2017 , and 2016 , we purchased $ 1.5 billion , $ 1.3 billion , and $ 1.3 billion , respectively , of our common stock under our programs .as of december 31 , 2018 , we have approval under the 2018 program to purchase approximately $ 2.2 billion of our common stock .common stock dividends on january 24 , 2019 , our board of directors declared a quarterly cash dividend of $ 0.90 per common share payable on march 5 , 2019 to holders of record at the close of business on february 13 , 2019 .valero energy partners lp units on september 16 , 2016 , vlp entered into an equity distribution agreement pursuant to which vlp offered and sold from time to time their common units having an aggregate offering price of up to $ 350 million based on amounts , at prices , and on terms determined by market conditions and other factors at the time of .
|
how much , in billions , was spent purchasing common stock under the programs from 2016-2018?
|
4.1
|
{
"answer": "4.1",
"decimal": 4.1,
"type": "float"
}
| |
investments prior to our acquisition of keystone on october 12 , 2007 , we held common shares of keystone , which were classified as an available-for-sale investment security .accordingly , the investment was included in other assets at its fair value , with the unrealized gain excluded from earnings and included in accumulated other comprehensive income , net of applicable taxes .upon our acquisition of keystone on october 12 , 2007 , the unrealized gain was removed from accumulated other comprehensive income , net of applicable taxes , and the original cost of the common shares was considered a component of the purchase price .fair value of financial instruments our debt is reflected on the balance sheet at cost .based on current market conditions , our interest rate margins are below the rate available in the market , which causes the fair value of our debt to fall below the carrying value .the fair value of our term loans ( see note 6 , 201clong-term obligations 201d ) is approximately $ 570 million at december 31 , 2009 , as compared to the carrying value of $ 596 million .we estimated the fair value of our term loans by calculating the upfront cash payment a market participant would require to assume our obligations .the upfront cash payment , excluding any issuance costs , is the amount that a market participant would be able to lend at december 31 , 2009 to an entity with a credit rating similar to ours and achieve sufficient cash inflows to cover the scheduled cash outflows under our term loans .the carrying amounts of our cash and equivalents , net trade receivables and accounts payable approximate fair value .we apply the market approach to value our financial assets and liabilities , which include the cash surrender value of life insurance , deferred compensation liabilities and interest rate swaps .the market approach utilizes available market information to estimate fair value .required fair value disclosures are included in note 8 , 201cfair value measurements . 201d accrued expenses we self-insure a portion of employee medical benefits under the terms of our employee health insurance program .we purchase certain stop-loss insurance to limit our liability exposure .we also self-insure a portion of our property and casualty risk , which includes automobile liability , general liability , workers 2019 compensation and property under deductible insurance programs .the insurance premium costs are expensed over the contract periods .a reserve for liabilities associated with these losses is established for claims filed and claims incurred but not yet reported based upon our estimate of ultimate cost , which is calculated using analyses of historical data .we monitor new claims and claim development as well as trends related to the claims incurred but not reported in order to assess the adequacy of our insurance reserves .self-insurance reserves on the consolidated balance sheets are net of claims deposits of $ 0.7 million and $ 0.8 million , at december 31 , 2009 and 2008 , respectively .while we do not expect the amounts ultimately paid to differ significantly from our estimates , our insurance reserves and corresponding expenses could be affected if future claim experience differs significantly from historical trends and assumptions .product warranties some of our mechanical products are sold with a standard six-month warranty against defects .we record the estimated warranty costs at the time of sale using historical warranty claim information to project future warranty claims activity and related expenses .the changes in the warranty reserve are as follows ( in thousands ) : .
[['balance as of january 1 2008', '$ 580'], ['warranty expense', '3681'], ['warranty claims', '-3721 ( 3721 )'], ['balance as of december 31 2008', '540'], ['warranty expense', '5033'], ['warranty claims', '-4969 ( 4969 )'], ['balance as of december 31 2009', '$ 604']]
.
|
at december 2009 what was the range between the carrying and the fair value of our term loans
|
26
|
{
"answer": "26",
"decimal": 26,
"type": "float"
}
| |
purchases of equity securities 2013 during 2018 , we repurchased 57669746 shares of our common stock at an average price of $ 143.70 .the following table presents common stock repurchases during each month for the fourth quarter of 2018 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares remaining under the plan or program [b] .
[['period', 'total number of shares purchased [a]', 'average price paid per share', 'total number of shares purchased as part of a publicly announcedplan or program [b]', 'maximum number of shares remaining under the plan or program [b]'], ['oct . 1 through oct . 31', '6091605', '$ 158.20', '6087727', '32831024'], ['nov . 1 through nov . 30', '3408467', '147.91', '3402190', '29428834'], ['dec . 1 through dec . 31', '3007951', '148.40', '3000715', '26428119'], ['total', '12508023', '$ 153.04', '12490632', 'n/a']]
[a] total number of shares purchased during the quarter includes approximately 17391 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares .[b] effective january 1 , 2017 , our board of directors authorized the repurchase of up to 120 million shares of our common stock by december 31 , 2020 .these repurchases may be made on the open market or through other transactions .our management has sole discretion with respect to determining the timing and amount of these transactions. .
|
what percentage of the total number of shares purchased where purchased in november?
|
27%
|
{
"answer": "27%",
"decimal": 0.27,
"type": "percentage"
}
| |
advance auto parts , inc .and subsidiaries notes to the consolidated financial statements december 31 , 2011 , january 1 , 2011 and january 2 , 2010 ( in thousands , except per share data ) 2011-12 superseded certain pending paragraphs in asu 2011-05 201ccomprehensive income 2013 presentation of comprehensive income 201d to effectively defer only those changes in asu 2011-05 that related to the presentation of reclassification adjustments out of accumulated other comprehensive income .the adoption of asu 2011-05 is not expected to have a material impact on the company 2019s consolidated financial condition , results of operations or cash flows .in january 2010 , the fasb issued asu no .2010-06 201cfair value measurements and disclosures 2013 improving disclosures about fair value measurements . 201d asu 2010-06 requires new disclosures for significant transfers in and out of level 1 and 2 of the fair value hierarchy and the activity within level 3 of the fair value hierarchy .the updated guidance also clarifies existing disclosures regarding the level of disaggregation of assets or liabilities and the valuation techniques and inputs used to measure fair value .the updated guidance is effective for interim and annual reporting periods beginning after december 15 , 2009 , with the exception of the new level 3 activity disclosures , which are effective for interim and annual reporting periods beginning after december 15 , 2010 .the adoption of asu 2010-06 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows .3 .inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at december 31 , 2011 and january 1 , 2011 .under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2011 and prior years .as a result of utilizing lifo , the company recorded an increase to cost of sales of $ 24708 for fiscal 2011 due to an increase in supply chain costs and inflationary pressures affecting certain product categories .the company recorded a reduction to cost of sales of $ 29554 and $ 16040 for fiscal 2010 and 2009 , respectively .prior to fiscal 2011 , the company 2019s overall costs to acquire inventory for the same or similar products generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies .product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( "fifo" ) method .product cores are included as part of the company's merchandise costs and are either passed on to the customer or returned to the vendor .because product cores are not subject to frequent cost changes like the company's other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method .inventory overhead costs purchasing and warehousing costs included in inventory , at fifo , at december 31 , 2011 and january 1 , 2011 , were $ 126840 and $ 103989 , respectively .inventory balance and inventory reserves inventory balances at year-end for fiscal 2011 and 2010 were as follows : inventories at fifo , net adjustments to state inventories at lifo inventories at lifo , net december 31 , $ 1941055 102103 $ 2043158 january 1 , $ 1737059 126811 $ 1863870 .
[['', 'december 312011', 'january 12011'], ['inventories at fifo net', '$ 1941055', '$ 1737059'], ['adjustments to state inventories at lifo', '102103', '126811'], ['inventories at lifo net', '$ 2043158', '$ 1863870']]
advance auto parts , inc .and subsidiaries notes to the consolidated financial statements december 31 , 2011 , january 1 , 2011 and january 2 , 2010 ( in thousands , except per share data ) 2011-12 superseded certain pending paragraphs in asu 2011-05 201ccomprehensive income 2013 presentation of comprehensive income 201d to effectively defer only those changes in asu 2011-05 that related to the presentation of reclassification adjustments out of accumulated other comprehensive income .the adoption of asu 2011-05 is not expected to have a material impact on the company 2019s consolidated financial condition , results of operations or cash flows .in january 2010 , the fasb issued asu no .2010-06 201cfair value measurements and disclosures 2013 improving disclosures about fair value measurements . 201d asu 2010-06 requires new disclosures for significant transfers in and out of level 1 and 2 of the fair value hierarchy and the activity within level 3 of the fair value hierarchy .the updated guidance also clarifies existing disclosures regarding the level of disaggregation of assets or liabilities and the valuation techniques and inputs used to measure fair value .the updated guidance is effective for interim and annual reporting periods beginning after december 15 , 2009 , with the exception of the new level 3 activity disclosures , which are effective for interim and annual reporting periods beginning after december 15 , 2010 .the adoption of asu 2010-06 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows .3 .inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at december 31 , 2011 and january 1 , 2011 .under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2011 and prior years .as a result of utilizing lifo , the company recorded an increase to cost of sales of $ 24708 for fiscal 2011 due to an increase in supply chain costs and inflationary pressures affecting certain product categories .the company recorded a reduction to cost of sales of $ 29554 and $ 16040 for fiscal 2010 and 2009 , respectively .prior to fiscal 2011 , the company 2019s overall costs to acquire inventory for the same or similar products generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies .product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( "fifo" ) method .product cores are included as part of the company's merchandise costs and are either passed on to the customer or returned to the vendor .because product cores are not subject to frequent cost changes like the company's other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method .inventory overhead costs purchasing and warehousing costs included in inventory , at fifo , at december 31 , 2011 and january 1 , 2011 , were $ 126840 and $ 103989 , respectively .inventory balance and inventory reserves inventory balances at year-end for fiscal 2011 and 2010 were as follows : inventories at fifo , net adjustments to state inventories at lifo inventories at lifo , net december 31 , $ 1941055 102103 $ 2043158 january 1 , $ 1737059 126811 $ 1863870 .
|
what percentage did ne inventories at lifo increase over the year?
|
9.6%
|
{
"answer": "9.6%",
"decimal": 0.096,
"type": "percentage"
}
|
to find the percentage increase in net inventories for lifo , one must subtract the end of the year by the begining of the year , then dvidie the answer by the beginning of the year .
|
( $ 125 million ) and higher maintenance outage costs ( $ 18 million ) .additionally , operating profits in 2012 include costs of $ 184 million associated with the acquisition and integration of temple-inland , mill divestiture costs of $ 91 million , costs associated with the restructuring of our european packaging busi- ness of $ 17 million and a $ 3 million gain for other items , while operating costs in 2011 included costs associated with signing an agreement to acquire temple-inland of $ 20 million and a gain of $ 7 million for other items .industrial packaging .
[['in millions', '2012', '2011', '2010'], ['sales', '$ 13280', '$ 10430', '$ 9840'], ['operating profit', '1066', '1147', '826']]
north american industr ia l packaging net sales were $ 11.6 billion in 2012 compared with $ 8.6 billion in 2011 and $ 8.4 billion in 2010 .operating profits in 2012 were $ 1.0 billion ( $ 1.3 billion exclud- ing costs associated with the acquisition and integration of temple-inland and mill divestiture costs ) compared with $ 1.1 billion ( both including and excluding costs associated with signing an agree- ment to acquire temple-inland ) in 2011 and $ 763 million ( $ 776 million excluding facility closure costs ) in 2010 .sales volumes for the legacy business were about flat in 2012 compared with 2011 .average sales price was lower mainly due to export containerboard sales prices which bottomed out in the first quarter but climbed steadily the rest of the year .input costs were lower for recycled fiber , wood and natural gas , but higher for starch .freight costs also increased .plan- ned maintenance downtime costs were higher than in 2011 .operating costs were higher largely due to routine inventory valuation adjustments operating profits in 2012 benefited from $ 235 million of temple-inland synergies .market-related downtime in 2012 was about 570000 tons compared with about 380000 tons in 2011 .operating profits in 2012 included $ 184 million of costs associated with the acquisition and integration of temple-inland and $ 91 million of costs associated with the divestiture of three containerboard mills .operating profits in 2011 included charges of $ 20 million for costs associated with the signing of the agreement to acquire temple- inland .looking ahead to 2013 , sales volumes in the first quarter compared with the fourth quarter of 2012 are expected to increase slightly for boxes due to a higher number of shipping days .average sales price realizations are expected to reflect the pass-through to box customers of a containerboard price increase implemented in 2012 .input costs are expected to be higher for recycled fiber , wood and starch .planned maintenance downtime costs are expected to be about $ 26 million higher with outages scheduled at eight mills compared with six mills in the 2012 fourth quarter .manufacturing operating costs are expected to be lower .european industr ia l packaging net sales were $ 1.0 billion in 2012 compared with $ 1.1 billion in 2011 and $ 990 million in 2010 .operating profits in 2012 were $ 53 million ( $ 72 million excluding restructuring costs ) compared with $ 66 million ( $ 61 million excluding a gain for a bargain purchase price adjustment on an acquisition by our joint venture in turkey and costs associated with the closure of our etienne mill in france in 2009 ) in 2011 and $ 70 mil- lion ( $ 73 million before closure costs for our etienne mill ) in 2010 .sales volumes in 2012 were lower than in 2011 reflecting decreased demand for packaging in the industrial market due to a weaker overall economic environment in southern europe .demand for pack- aging in the agricultural markets was about flat year- over-year .average sales margins increased due to sales price increases implemented during 2011 and 2012 and lower board costs .other input costs were higher , primarily for energy and distribution .operat- ing profits in 2012 included a net gain of $ 10 million for an insurance settlement , partially offset by addi- tional operating costs , related to the earthquakes in northern italy in may which affected our san felice box plant .entering the first quarter of 2013 , sales volumes are expected to be stable reflecting a seasonal decrease in market demand in agricultural markets offset by an increase in industrial markets .average sales margins are expected to improve due to lower input costs for containerboard .other input costs should be about flat .operating costs are expected to be higher reflecting the absence of the earthquake insurance settlement that was received in the 2012 fourth quar- asian industr ia l packaging net sales and operating profits include the results of sca pack- aging since the acquisition on june 30 , 2010 , includ- ing the impact of incremental integration costs .net sales for the packaging operations were $ 400 million in 2012 compared with $ 410 million in 2011 and $ 255 million in 2010 .operating profits for the packaging operations were $ 2 million in 2012 compared with $ 2 million in 2011 and a loss of $ 7 million ( a loss of $ 4 million excluding facility closure costs ) in 2010 .operating profits were favorably impacted by higher average sales margins in 2012 compared with 2011 , but this benefit was offset by lower sales volumes and higher raw material costs and operating costs .looking ahead to the first quarter of 2013 , sales volumes and average sales margins are expected to decrease due to seasonality .net sales for the distribution operations were $ 260 million in 2012 compared with $ 285 million in 2011 and $ 240 million in 2010 .operating profits were $ 3 million in 2012 compared with $ 3 million in 2011 and about breakeven in 2010. .
|
what was the percentage change in the north american industrial packaging net sales in 2012
|
34.9%
|
{
"answer": "34.9%",
"decimal": 0.349,
"type": "percentage"
}
| |
accounts receivable , net october 31 , 2006 october 31 , 2005 dollar change change .
[['october 31 2006', 'october 31 2005', 'dollar change', '% ( % ) change'], ['( dollars in millions )', '( dollars in millions )', '', ''], ['$ 122.6', '$ 100.2', '$ 22.4', '22% ( 22 % )']]
the increase in accounts receivable was primarily due to the increased billings during the fiscal year ended october 31 , 2006 .days sales outstanding ( dso ) was 39 days at october 31 , 2006 and 36 days at october 31 , 2005 .our accounts receivable and dso are primarily driven by our billing and collections activities .net working capital working capital is comprised of current assets less current liabilities , as shown on our balance sheet .as of october 31 , 2006 , our working capital was $ 23.4 million , compared to $ 130.6 million as of october 31 , 2005 .the decrease in net working capital of $ 107.2 million was primarily due to ( 1 ) a decrease of $ 73.7 million in cash and cash equivalents ; ( 2 ) a decrease of current deferred tax assets of $ 83.2 million , primarily due to a tax accounting method change ; ( 3 ) a decrease in income taxes receivable of $ 5.8 million ; ( 4 ) an increase in income taxes payable of $ 21.5 million ; ( 5 ) an increase in deferred revenue of $ 29.9 million ; and ( 6 ) a net increase of $ 2.8 million in accounts payable and other liabilities which included a reclassification of debt of $ 7.5 million from long term to short term debt .this decrease was partially offset by ( 1 ) an increase in short-term investments of $ 59.9 million ; ( 2 ) an increase in prepaid and other assets of $ 27.4 million , which includes land of $ 23.4 million reclassified from property plant and equipment to asset held for sale within prepaid expense and other assets on our consolidated balance sheet ; and ( 3 ) an increase in accounts receivable of $ 22.4 million .other commitments 2014revolving credit facility on october 20 , 2006 , we entered into a five-year , $ 300.0 million senior unsecured revolving credit facility providing for loans to synopsys and certain of its foreign subsidiaries .the facility replaces our previous $ 250.0 million senior unsecured credit facility , which was terminated effective october 20 , 2006 .the amount of the facility may be increased by up to an additional $ 150.0 million through the fourth year of the facility .the facility contains financial covenants requiring us to maintain a minimum leverage ratio and specified levels of cash , as well as other non-financial covenants .the facility terminates on october 20 , 2011 .borrowings under the facility bear interest at the greater of the administrative agent 2019s prime rate or the federal funds rate plus 0.50% ( 0.50 % ) ; however , we have the option to pay interest based on the outstanding amount at eurodollar rates plus a spread between 0.50% ( 0.50 % ) and 0.70% ( 0.70 % ) based on a pricing grid tied to a financial covenant .in addition , commitment fees are payable on the facility at rates between 0.125% ( 0.125 % ) and 0.175% ( 0.175 % ) per year based on a pricing grid tied to a financial covenant .as of october 31 , 2006 we had no outstanding borrowings under this credit facility and were in compliance with all the covenants .we believe that our current cash , cash equivalents , short-term investments , cash generated from operations , and available credit under our credit facility will satisfy our business requirements for at least the next twelve months. .
|
considering the year 2006 , what is the percentage of working capital among the total accounts receivable?
|
19.08%
|
{
"answer": "19.08%",
"decimal": 0.19079999999999997,
"type": "percentage"
}
|
it is the value of the working capital divided by the total accounts receivable , then turned into a percentage .
|
between the actual return on plan assets compared to the expected return on plan assets ( u.s .pension plans had an actual rate of return of 7.8 percent compared to an expected rate of return of 6.9 percent ) .2022 2015 net mark-to-market loss of $ 179 million - primarily due to the difference between the actual return on plan assets compared to the expected return on plan assets ( u.s .pension plans had an actual rate of return of ( 2.0 ) percent compared to an expected rate of return of 7.4 percent ) which was partially offset by higher discount rates at the end of 2015 compared to 2014 .the net mark-to-market losses were in the following results of operations line items: .
[['( millions of dollars )', 'years ended december 31 , 2017', 'years ended december 31 , 2016', 'years ended december 31 , 2015'], ['cost of goods sold', '$ -29 ( 29 )', '$ 476', '$ 122'], ['selling general and administrative expenses', '244', '382', '18'], ['research and development expenses', '86', '127', '39'], ['total', '$ 301', '$ 985', '$ 179']]
effective january 1 , 2018 , we adopted new accounting guidance issued by the fasb related to the presentation of net periodic pension and opeb costs .this guidance requires that an employer disaggregate the service cost component from the other components of net benefit cost .service cost is required to be reported in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period .the other components of net benefit cost are required to be reported outside the subtotal for income from operations .as a result , components of pension and opeb costs , other than service costs , will be reclassified from operating costs to other income/expense .this change will be applied retrospectively to prior years .in the fourth quarter of 2017 , the company reviewed and made changes to the mortality assumptions primarily for our u.s .pension plans which resulted in an overall increase in the life expectancy of plan participants .as of december 31 , 2017 these changes resulted in an increase in our liability for postemployment benefits of approximately $ 290 million .in the fourth quarter of 2016 , the company adopted new mortality improvement scales released by the soa for our u.s .pension and opeb plans .as of december 31 , 2016 , this resulted in an increase in our liability for postemployment benefits of approximately $ 200 million .in the first quarter of 2017 , we announced the closure of our gosselies , belgium facility .this announcement impacted certain employees that participated in a defined benefit pension plan and resulted in a curtailment and the recognition of termination benefits .in march 2017 , we recognized a net loss of $ 20 million for the curtailment and termination benefits .in addition , we announced the decision to phase out production at our aurora , illinois , facility , which resulted in termination benefits of $ 9 million for certain hourly employees that participate in our u.s .hourly defined benefit pension plan .beginning in 2016 , we elected to utilize a full yield curve approach in the estimation of service and interest costs by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows .service and interest costs in 2017 and 2016 were lower by $ 140 million and $ 180 million , respectively , under the new method than they would have been under the previous method .this change had no impact on our year-end defined benefit pension and opeb obligations or our annual net periodic benefit cost as the lower service and interest costs were entirely offset in the actuarial loss ( gain ) reported for the respective year .we expect our total defined benefit pension and opeb expense ( excluding the impact of mark-to-market gains and losses ) to decrease approximately $ 80 million in 2018 .this decrease is primarily due to a higher expected return on plan assets as a result of a higher asset base in 2018 .in general , our strategy for both the u.s .and the non-u.s .pensions includes ongoing alignment of our investments to our liabilities , while reducing risk in our portfolio .for our u.s .pension plans , our year-end 2017 asset allocation was 34 a0percent equities , 62 a0percent fixed income and 4 percent other .our current u.s .pension target asset allocation is 30 percent equities and 70 percent fixed income .the target allocation is revisited periodically to ensure it reflects our overall objectives .the u.s .plans are rebalanced to plus or minus 5 percentage points of the target asset allocation ranges on a monthly basis .the year-end 2017 asset allocation for our non-u.s .pension plans was 40 a0percent equities , 53 a0percent fixed income , 4 a0percent real estate and 3 percent other .the 2017 weighted-average target allocations for our non-u.s .pension plans was 38 a0percent equities , 54 a0percent fixed income , 5 a0percent real estate and 3 a0percent other .the target allocations for each plan vary based upon local statutory requirements , demographics of the plan participants and funded status .the frequency of rebalancing for the non-u.s .plans varies depending on the plan .contributions to our pension and opeb plans were $ 1.6 billion and $ 329 million in 2017 and 2016 , respectively .the 2017 contributions include a $ 1.0 billion discretionary contribution made to our u.s .pension plans in december 2017 .we expect to make approximately $ 365 million of contributions to our pension and opeb plans in 2018 .we believe we have adequate resources to fund both pension and opeb plans .48 | 2017 form 10-k .
|
what portion of the net mark-to-market loss were driven by cost of good sold in 2015?
|
68.2%
|
{
"answer": "68.2%",
"decimal": 0.682,
"type": "percentage"
}
| |
table of contents the following table discloses purchases of shares of our common stock made by us or on our behalf during the fourth quarter of 2016 .period total number of shares purchased average price paid per share total number of shares not purchased as part of publicly announced plans or programs ( a ) 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 ( b ) .
[['period', 'total numberof sharespurchased', 'averageprice paidper share', 'total number ofshares notpurchased as part ofpublicly announcedplans or programs ( a )', 'total number ofshares purchased aspart of publiclyannounced plans orprograms', 'approximate dollarvalue of shares thatmay yet be purchasedunder the plans orprograms ( b )'], ['october 2016', '433272', '$ 52.69', '50337', '382935', '$ 2.7 billion'], ['november 2016', '667644', '$ 62.25', '248349', '419295', '$ 2.6 billion'], ['december 2016', '1559569', '$ 66.09', '688', '1558881', '$ 2.5 billion'], ['total', '2660485', '$ 62.95', '299374', '2361111', '$ 2.5 billion']]
( a ) the shares reported in this column represent purchases settled in the fourth quarter of 2016 relating to ( i ) our purchases of shares in open-market transactions to meet our obligations under stock-based compensation plans , and ( ii ) our purchases of shares from our employees and non-employee directors in connection with the exercise of stock options , the vesting of restricted stock , and other stock compensation transactions in accordance with the terms of our stock-based compensation plans .( b ) on july 13 , 2015 , we announced that our board of directors authorized our purchase of up to $ 2.5 billion of our outstanding common stock .this authorization has no expiration date .as of december 31 , 2016 , the approximate dollar value of shares that may yet be purchased under the 2015 authorization is $ 40 million .on september 21 , 2016 , we announced that our board of directors authorized our purchase of up to an additional $ 2.5 billion of our outstanding common stock with no expiration date .as of december 31 , 2016 , no purchases have been made under the 2016 authorization. .
|
what is the percentage increase of shares purchased as part of publicly announced plans from nov 2016 to dec 2016?
|
271.8%
|
{
"answer": "271.8%",
"decimal": 2.718,
"type": "percentage"
}
| |
operating expenses millions 2013 2012 2011 % ( % ) change 2013 v 2012 % ( % ) change 2012 v 2011 .
[['millions', '2013', '2012', '2011', '% ( % ) change 2013 v 2012', '% ( % ) change 2012 v 2011'], ['compensation and benefits', '$ 4807', '$ 4685', '$ 4681', '3 % ( % )', '-% ( - % )'], ['fuel', '3534', '3608', '3581', '-2 ( 2 )', '1'], ['purchased services and materials', '2315', '2143', '2005', '8', '7'], ['depreciation', '1777', '1760', '1617', '1', '9'], ['equipment and other rents', '1235', '1197', '1167', '3', '3'], ['other', '849', '788', '782', '8', '1'], ['total', '$ 14517', '$ 14181', '$ 13833', '2 % ( % )', '3% ( 3 % )']]
operating expenses increased $ 336 million in 2013 versus 2012 .wage and benefit inflation , new logistics management fees and container costs for our automotive business , locomotive overhauls , property taxes and repairs on jointly owned property contributed to higher expenses during the year .lower fuel prices partially offset the cost increases .operating expenses increased $ 348 million in 2012 versus 2011 .depreciation , wage and benefit inflation , higher fuel prices and volume- related trucking services purchased by our logistics subsidiaries , contributed to higher expenses during the year .efficiency gains , volume related fuel savings ( 2% ( 2 % ) fewer gallons of fuel consumed ) and $ 38 million of weather related expenses in 2011 , which favorably affects the comparison , partially offset the cost increase .compensation and benefits 2013 compensation and benefits include wages , payroll taxes , health and welfare costs , pension costs , other postretirement benefits , and incentive costs .general wages and benefits inflation , higher work force levels and increased pension and other postretirement benefits drove the increases in 2013 versus 2012 .the impact of ongoing productivity initiatives partially offset these increases .expenses in 2012 were essentially flat versus 2011 as operational improvements and cost reductions offset general wage and benefit inflation and higher pension and other postretirement benefits .in addition , weather related costs increased these expenses in 2011 .fuel 2013 fuel includes locomotive fuel and gasoline for highway and non-highway vehicles and heavy equipment .lower locomotive diesel fuel prices , which averaged $ 3.15 per gallon ( including taxes and transportation costs ) in 2013 , compared to $ 3.22 in 2012 , decreased expenses by $ 75 million .volume , as measured by gross ton-miles , decreased 1% ( 1 % ) while the fuel consumption rate , computed as gallons of fuel consumed divided by gross ton-miles , increased 2% ( 2 % ) compared to 2012 .declines in heavier , more fuel-efficient coal shipments drove the variances in gross-ton-miles and the fuel consumption rate .higher locomotive diesel fuel prices , which averaged $ 3.22 per gallon ( including taxes and transportation costs ) in 2012 , compared to $ 3.12 in 2011 , increased expenses by $ 105 million .volume , as measured by gross ton-miles , decreased 2% ( 2 % ) in 2012 versus 2011 , driving expense down .the fuel consumption rate was flat year-over-year .purchased services and materials 2013 expense for purchased services and materials includes the costs of services purchased from outside contractors and other service providers ( including equipment maintenance and contract expenses incurred by our subsidiaries for external transportation services ) ; materials used to maintain the railroad 2019s lines , structures , and equipment ; costs of operating facilities jointly used by uprr and other railroads ; transportation and lodging for train crew employees ; trucking and contracting costs for intermodal containers ; leased automobile maintenance expenses ; and tools and 2013 operating expenses .
|
what percentage of total operating expenses was fuel in 2013?
|
24%
|
{
"answer": "24%",
"decimal": 0.24,
"type": "percentage"
}
| |
the following table discloses purchases of shares of valero 2019s common stock made by us or on our behalf during the fourth quarter of period total number of shares purchased average price paid per share total number of shares not purchased as part of publicly announced plans or programs ( a ) 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 ( b ) .
[['period', 'total numberof sharespurchased', 'averageprice paidper share', 'total number ofshares notpurchased as part ofpublicly announcedplans or programs ( a )', 'total number ofshares purchased aspart of publiclyannounced plans orprograms', 'approximate dollarvalue of shares thatmay yet be purchasedunder the plans orprograms ( b )'], ['october 2014', '3180678', '$ 46.27', '302005', '2878673', '$ 1.8 billion'], ['november 2014', '2001273', '$ 50.32', '119047', '1882226', '$ 1.7 billion'], ['december 2014', '5120398', '$ 48.56', '2624', '5117774', '$ 1.5 billion'], ['total', '10302349', '$ 48.20', '423676', '9878673', '$ 1.5 billion']]
( a ) the shares reported in this column represent purchases settled in the fourth quarter of 2014 relating to ( i ) our purchases of shares in open-market transactions to meet our obligations under stock-based compensation plans , and ( ii ) our purchases of shares from our employees and non-employee directors in connection with the exercise of stock options , the vesting of restricted stock , and other stock compensation transactions in accordance with the terms of our stock-based compensation plans .( b ) on february 28 , 2008 , we announced that our board of directors approved a $ 3 billion common stock purchase program .this $ 3 billion program has no expiration date. .
|
how many more shares were purchased as part of publicly announced plans in december 2014 than october 2014?
|
7000000
|
{
"answer": "7000000",
"decimal": 7000000,
"type": "float"
}
| |
exchanged installment notes totaling approximately $ 4.8 billion and approximately $ 400 million of inter- national paper promissory notes for interests in enti- ties formed to monetize the notes .international paper determined that it was not the primary benefi- ciary of these entities , and therefore should not consolidate its investments in these entities .during 2006 , these entities acquired an additional $ 4.8 bil- lion of international paper debt securities for cash , resulting in a total of approximately $ 5.2 billion of international paper debt obligations held by these entities at december 31 , 2006 .since international paper has , and intends to affect , a legal right to offset its obligations under these debt instruments with its investments in the entities , international paper has offset $ 5.0 billion of interest in the entities against $ 5.0 billion of international paper debt obligations held by the entities as of december 31 , 2007 .international paper also holds variable interests in two financing entities that were used to monetize long-term notes received from sales of forestlands in 2002 and 2001 .see note 8 of the notes to consolidated financial statements in item 8 .financial statements and supplementary data for a further discussion of these transactions .capital resources outlook for 2008 international paper expects to be able to meet pro- jected capital expenditures , service existing debt and meet working capital and dividend requirements during 2008 through current cash balances and cash from operations , supplemented as required by its various existing credit facilities .international paper has approximately $ 2.5 billion of committed bank credit agreements , which management believes is adequate to cover expected operating cash flow variability during our industry 2019s economic cycles .the agreements generally provide for interest rates at a floating rate index plus a pre-determined margin dependent upon international paper 2019s credit rating .the agreements include a $ 1.5 billion fully commit- ted revolving bank credit agreement that expires in march 2011 and has a facility fee of 0.10% ( 0.10 % ) payable quarterly .these agreements also include up to $ 1.0 billion of available commercial paper-based financ- ings under a receivables securitization program that expires in october 2009 with a facility fee of 0.10% ( 0.10 % ) .at december 31 , 2007 , there were no borrowings under either the bank credit agreements or receiv- ables securitization program .the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows .funding decisions will be guided by our capi- tal structure planning objectives .the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense .the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors .the company was in compliance with all its debt covenants at december 31 , 2007 .principal financial covenants include maintenance of a minimum net worth , defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock , plus any goodwill impairment charges , of $ 9 billion ; and a maximum total debt to capital ratio , defined as total debt divided by total debt plus net worth , of 60% ( 60 % ) .maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy .at december 31 , 2007 , the company held long-term credit ratings of bbb ( stable outlook ) and baa3 ( stable outlook ) by standard & poor 2019s ( s&p ) and moody 2019s investor services ( moody 2019s ) , respectively .the company currently has short-term credit ratings by s&p and moody 2019s of a-2 and p-3 , respectively .contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2007 , were as follows : in millions 2008 2009 2010 2011 2012 thereafter maturities of long-term debt ( a ) $ 267 $ 1300 $ 1069 $ 396 $ 532 $ 3056 debt obligations with right of offset ( b ) 2013 2013 2013 2013 2013 5000 .
[['in millions', '2008', '2009', '2010', '2011', '2012', 'thereafter'], ['maturities of long-term debt ( a )', '$ 267', '$ 1300', '$ 1069', '$ 396', '$ 532', '$ 3056'], ['debt obligations with right of offset ( b )', '2013', '2013', '2013', '2013', '2013', '5000'], ['lease obligations', '136', '116', '101', '84', '67', '92'], ['purchase obligations ( c )', '1953', '294', '261', '235', '212', '1480'], ['total ( d )', '$ 2356', '$ 1710', '$ 1431', '$ 715', '$ 811', '$ 9628']]
( 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 affect , a legal right to offset these obligations with investments held in the entities .accordingly , in its con- solidated balance sheet at december 31 , 2007 , international paper has offset approximately $ 5.0 billion of interests in the entities against this $ 5.0 billion of debt obligations held by the entities ( see note 8 in the accompanying consolidated financial statements ) .( c ) includes $ 2.1 billion relating to fiber supply agreements entered into at the time of the transformation plan forestland sales .( d ) not included in the above table are unrecognized tax benefits of approximately $ 280 million. .
|
in 2009 what was the percent of the maturities of long-term debt of the total contractual obligations for future payments
|
76%
|
{
"answer": "76%",
"decimal": 0.76,
"type": "percentage"
}
| |
97% ( 97 % ) of its carrying value .the columbia fund is being liquidated with distributions to us occurring and expected to be fully liquidated during calendar 2008 .since december 2007 , we have received disbursements of approximately $ 20.7 million from the columbia fund .our operating activities during the year ended march 31 , 2008 used cash of $ 28.9 million as compared to $ 19.8 million during the same period in the prior year .our fiscal 2008 net loss of $ 40.9 million was the primary cause of our cash use from operations , attributed to increased investments in our global distribution as we continue to drive initiatives to increase recovery awareness as well as our investments in research and development to broaden our circulatory care product portfolio .in addition , our inventories used cash of $ 11.1 million during fiscal 2008 , reflecting our inventory build-up to support anticipated increases in global demand for our products and our accounts receivable also increased as a result of higher sales volume resulting in a use of cash of $ 2.8 million in fiscal 2008 .these decreases in cash were partially offset by an increase in accounts payable and accrued expenses of $ 5.6 million , non-cash adjustments of $ 5.4 million related to stock-based compensation expense , $ 6.1 million of depreciation and amortization and $ 5.0 million for the change in fair value of worldheart note receivable and warrant .our investing activities during the year ended march 31 , 2008 used cash of $ 40.9 million as compared to cash provided by investing activities of $ 15.1 million during the year ended march 31 , 2007 .cash used by investment activities for fiscal 2008 consisted primarily of $ 49.3 million for the recharacterization of the columbia fund to short-term marketable securities , $ 17.1 million for the purchase of short-term marketable securities , $ 3.8 million related to expenditures for property and equipment and $ 5.0 million for note receivable advanced to worldheart .these amounts were offset by $ 34.5 million of proceeds from short-term marketable securities .in june 2008 , we received 510 ( k ) clearance of our impella 2.5 , triggering an obligation to pay $ 5.6 million of contingent payments in accordance with the may 2005 acquisition of impella .these contingent payments may be made , at our option , with cash , or stock or by a combination of cash or stock under circumstances described in the purchase agreement .it is our intent to satisfy this contingent payment through the issuance of shares of our common stock .our financing activities during the year ended march 31 , 2008 provided cash of $ 2.1 million as compared to cash provided by financing activities of $ 66.6 million during the same period in the prior year .cash provided by financing activities for fiscal 2008 is comprised primarily of $ 2.8 million attributable to the exercise of stock options , $ 0.9 million related to the proceeds from the issuance of common stock , $ 0.3 million related to proceeds from the employee stock purchase plan , partially offset by $ 1.9 million related to the repurchase of warrants .the $ 64.5 million decrease compared to the prior year is primarily due to $ 63.6 million raised from the public offering in fiscal 2007 .we disbursed approximately $ 2.2 million of cash for the warrant repurchase and settlement of certain litigation .capital expenditures for fiscal 2009 are estimated to be approximately $ 3.0 to $ 6.0 million .contractual obligations and commercial commitments the following table summarizes our contractual obligations at march 31 , 2008 and the effects such obligations are expected to have on our liquidity and cash flows in future periods .payments due by fiscal year ( in $ 000 2019s ) contractual obligations total than 1 than 5 .
[['contractual obligations', 'payments due by fiscal year ( in $ 000 2019s ) total', 'payments due by fiscal year ( in $ 000 2019s ) less than 1 year', 'payments due by fiscal year ( in $ 000 2019s ) 1-3 years', 'payments due by fiscal year ( in $ 000 2019s ) 3-5 years', 'payments due by fiscal year ( in $ 000 2019s ) more than 5 years'], ['operating lease commitments', '$ 7754', '$ 2544', '$ 3507', '$ 1703', '$ 2014'], ['contractual obligations', '9309', '7473', '1836', '2014', '2014'], ['total obligations', '$ 17063', '$ 10017', '$ 5343', '$ 1703', '$ 2014']]
we have no long-term debt , capital leases or other material commitments , for open purchase orders and clinical trial agreements at march 31 , 2008 other than those shown in the table above .in may 2005 , we acquired all the shares of outstanding capital stock of impella cardiosystems ag , a company headquartered in aachen , germany .the aggregate purchase price excluding a contingent payment in the amount of $ 5.6 million made on january 30 , 2007 in the form of common stock , was approximately $ 45.1 million , which consisted of $ 42.2 million of our common stock , $ 1.6 million of cash paid to certain former shareholders of impella and $ 1.3 million of transaction costs , consisting primarily of fees paid for financial advisory and legal services .we may make additional contingent payments to impella 2019s former shareholders based on additional milestone payments related to fda approvals in the amount of up to $ 11.2 million .in june 2008 we received 510 ( k ) clearance of our impella 2.5 , triggering an obligation to pay $ 5.6 million of contingent payments .these contingent payments may be made , at our option , with cash , or stock or by a combination of cash or stock under circumstances described in the purchase agreement , except that approximately $ 1.8 million of these contingent payments must be made in cash .the payment of any contingent payments will result in an increase to the carrying value of goodwill .we apply the disclosure provisions of fin no .45 , guarantor 2019s accounting and disclosure requirements for guarantees , including guarantees of indebtedness of others , and interpretation of fasb statements no .5 , 57 and 107 and rescission of fasb interpretation .
|
what portion of total obligations is related to contractual obligations as of march 31 , 2008?
|
54.6%
|
{
"answer": "54.6%",
"decimal": 0.546,
"type": "percentage"
}
| |
notes to the consolidated financial statements union pacific corporation and subsidiary companies for purposes of this report , unless the context otherwise requires , all references herein to the 201ccorporation 201d , 201cupc 201d , 201cwe 201d , 201cus 201d , and 201cour 201d mean union pacific corporation and its subsidiaries , including union pacific railroad company , which will be separately referred to herein as 201cuprr 201d or the 201crailroad 201d .1 .nature of operations operations and segmentation 2013 we are a class i railroad that operates in the u.s .our network includes 31898 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s .gateways and providing several corridors to key mexican gateways .we own 26027 miles and operate on the remainder pursuant to trackage rights or leases .we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico .export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders .the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment .although revenue is analyzed by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network .the following table provides freight revenue by commodity group : millions 2011 2010 2009 .
[['millions', '2011', '2010', '2009'], ['agricultural', '$ 3324', '$ 3018', '$ 2666'], ['automotive', '1510', '1271', '854'], ['chemicals', '2815', '2425', '2102'], ['energy', '4084', '3489', '3118'], ['industrial products', '3166', '2639', '2147'], ['intermodal', '3609', '3227', '2486'], ['total freight revenues', '$ 18508', '$ 16069', '$ 13373'], ['other revenues', '1049', '896', '770'], ['total operatingrevenues', '$ 19557', '$ 16965', '$ 14143']]
although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported by us are outside the u.s .basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s .( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .certain prior year amounts have been disaggregated to provide more detail and conform to the current period financial statement presentation .2 .significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries .investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting .all intercompany transactions are eliminated .we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements .cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less .accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts .the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions .receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position. .
|
what percent of total freight revenues was automotive in 2010?
|
8%
|
{
"answer": "8%",
"decimal": 0.08,
"type": "percentage"
}
| |
bhge 2018 form 10-k | 85 it is expected that the amount of unrecognized tax benefits will change in the next twelve months due to expiring statutes , audit activity , tax payments , and competent authority proceedings related to transfer pricing or final decisions in matters that are the subject of litigation in various taxing jurisdictions in which we operate .at december 31 , 2018 , we had approximately $ 96 million of tax liabilities , net of $ 1 million of tax assets , related to uncertain tax positions , each of which are individually insignificant , and each of which are reasonably possible of being settled within the next twelve months .we conduct business in more than 120 countries and are subject to income taxes in most taxing jurisdictions in which we operate .all internal revenue service examinations have been completed and closed through year end 2015 for the most significant u.s .returns .we believe there are no other jurisdictions in which the outcome of unresolved issues or claims is likely to be material to our results of operations , financial position or cash flows .we further believe that we have made adequate provision for all income tax uncertainties .note 13 .stock-based compensation in july 2017 , we adopted the bhge 2017 long-term incentive plan ( lti plan ) under which we may grant stock options and other equity-based awards to employees and non-employee directors providing services to the company and our subsidiaries .a total of up to 57.4 million shares of class a common stock are authorized for issuance pursuant to awards granted under the lti plan over its term which expires on the date of the annual meeting of the company in 2027 .a total of 46.2 million shares of class a common stock are available for issuance as of december 31 , 2018 .stock-based compensation cost was $ 121 million and $ 37 million in 2018 and 2017 , respectively .stock-based compensation cost is measured at the date of grant based on the calculated fair value of the award and is generally recognized on a straight-line basis over the vesting period of the equity grant .the compensation cost is determined based on awards ultimately expected to vest ; therefore , we have reduced the cost for estimated forfeitures based on historical forfeiture rates .forfeitures are estimated at the time of grant and revised , if necessary , in subsequent periods to reflect actual forfeitures .there were no stock-based compensation costs capitalized as the amounts were not material .stock options we may grant stock options to our officers , directors and key employees .stock options generally vest in equal amounts over a three-year vesting period provided that the employee has remained continuously employed by the company through such vesting date .the fair value of each stock option granted is estimated using the black- scholes option pricing model .the following table presents the weighted average assumptions used in the option pricing model for options granted under the lti plan .the expected life of the options represents the period of time the options are expected to be outstanding .the expected life is based on a simple average of the vesting term and original contractual term of the awards .the expected volatility is based on the historical volatility of our five main competitors over a six year period .the risk-free interest rate is based on the observed u.s .treasury yield curve in effect at the time the options were granted .the dividend yield is based on a five year history of dividend payouts in baker hughes. .
[['', '2018', '2017'], ['expected life ( years )', '6', '6'], ['risk-free interest rate', '2.5% ( 2.5 % )', '2.1% ( 2.1 % )'], ['volatility', '33.7% ( 33.7 % )', '36.4% ( 36.4 % )'], ['dividend yield', '2% ( 2 % )', '1.2% ( 1.2 % )'], ['weighted average fair value per share at grant date', '$ 10.34', '$ 12.32']]
baker hughes , a ge company notes to consolidated and combined financial statements .
|
what is the growth rate in weighted average fair value per share from 2017 to 2018?
|
-16.1%
|
{
"answer": "-16.1%",
"decimal": -0.161,
"type": "percentage"
}
| |
long-term product offerings include active and index strategies .our active strategies seek to earn attractive returns in excess of a market benchmark or performance hurdle while maintaining an appropriate risk profile .we offer two types of active strategies : those that rely primarily on fundamental research and those that utilize primarily quantitative models to drive portfolio construction .in contrast , index strategies seek to closely track the returns of a corresponding index , generally by investing in substantially the same underlying securities within the index or in a subset of those securities selected to approximate a similar risk and return profile of the index .index strategies include both our non-etf index products and ishares etfs .although many clients use both active and index strategies , the application of these strategies may differ .for example , clients may use index products to gain exposure to a market or asset class , or may use a combination of index strategies to target active returns .in addition , institutional non-etf index assignments tend to be very large ( multi-billion dollars ) and typically reflect low fee rates .this has the potential to exaggerate the significance of net flows in institutional index products on blackrock 2019s revenues and earnings .equity year-end 2016 equity aum totaled $ 2.657 trillion , reflecting net inflows of $ 51.4 billion .net inflows included $ 74.9 billion into ishares , driven by net inflows into the core ranges and broad developed and emerging market equities .ishares net inflows were partially offset by active and non-etf index net outflows of $ 20.2 billion and $ 3.3 billion , respectively .blackrock 2019s effective fee rates fluctuate due to changes in aum mix .approximately half of blackrock 2019s equity aum is tied to international markets , including emerging markets , which tend to have higher fee rates than u.s .equity strategies .accordingly , fluctuations in international equity markets , which may not consistently move in tandem with u.s .markets , have a greater impact on blackrock 2019s effective equity fee rates and revenues .fixed income fixed income aum ended 2016 at $ 1.572 trillion , reflecting net inflows of $ 120.0 billion .in 2016 , active net inflows of $ 16.6 billion were diversified across fixed income offerings , and included strong inflows from insurance clients .fixed income ishares net inflows of $ 59.9 billion were led by flows into the core ranges , emerging market , high yield and corporate bond funds .non-etf index net inflows of $ 43.4 billion were driven by demand for liability-driven investment solutions .multi-asset blackrock 2019s multi-asset team manages a variety of balanced funds and bespoke mandates for a diversified client base that leverages our broad investment expertise in global equities , bonds , currencies and commodities , and our extensive risk management capabilities .investment solutions might include a combination of long-only portfolios and alternative investments as well as tactical asset allocation overlays .component changes in multi-asset aum for 2016 are presented below .( in millions ) december 31 , net inflows ( outflows ) market change impact december 31 .
[['( in millions )', 'december 312015', 'net inflows ( outflows )', 'marketchange', 'fx impact', 'december 312016'], ['asset allocation and balanced', '$ 185836', '$ -10332 ( 10332 )', '$ 6705', '$ -5534 ( 5534 )', '$ 176675'], ['target date/risk', '125664', '13500', '10189', '79', '149432'], ['fiduciary', '64433', '998', '5585', '-2621 ( 2621 )', '68395'], ['futureadvisor ( 1 )', '403', '61', '41', '2014', '505'], ['total', '$ 376336', '$ 4227', '$ 22520', '$ -8076 ( 8076 )', '$ 395007']]
( 1 ) the futureadvisor amount does not include aum that was held in ishares holdings .multi-asset net inflows reflected ongoing institutional demand for our solutions-based advice with $ 13.2 billion of net inflows coming from institutional clients .defined contribution plans of institutional clients remained a significant driver of flows , and contributed $ 11.3 billion to institutional multi-asset net inflows in 2016 , primarily into target date and target risk product offerings .retail net outflows of $ 9.4 billion were primarily due to outflows from world allocation strategies .the company 2019s multi-asset strategies include the following : 2022 asset allocation and balanced products represented 45% ( 45 % ) of multi-asset aum at year-end .these strategies combine equity , fixed income and alternative components for investors seeking a tailored solution relative to a specific benchmark and within a risk budget .in certain cases , these strategies seek to minimize downside risk through diversification , derivatives strategies and tactical asset allocation decisions .flagship products in this category include our global allocation and multi-asset income fund families .2022 target date and target risk products grew 11% ( 11 % ) organically in 2016 , with net inflows of $ 13.5 billion .institutional investors represented 94% ( 94 % ) of target date and target risk aum , with defined contribution plans accounting for 88% ( 88 % ) of aum .flows were driven by defined contribution investments in our lifepath and lifepath retirement income ae offerings .lifepath products utilize a proprietary asset allocation model that seeks to balance risk and return over an investment horizon based on the investor 2019s expected retirement timing .2022 fiduciary management services are complex mandates in which pension plan sponsors or endowments and foundations retain blackrock to assume responsibility for some or all aspects of plan management .these customized services require strong partnership with the clients 2019 investment staff and trustees in order to tailor investment strategies to meet client-specific risk budgets and return objectives. .
|
what portion of total net multi-asset aum inflows is related to target date/risk as of december 31 , 2016?
|
37.8%
|
{
"answer": "37.8%",
"decimal": 0.37799999999999995,
"type": "percentage"
}
| |
bhge 2018 form 10-k | 31 business environment the following discussion and analysis summarizes the significant factors affecting our results of operations , financial condition and liquidity position as of and for the year ended december 31 , 2018 , 2017 and 2016 , and should be read in conjunction with the consolidated and combined financial statements and related notes of the company .we operate in more than 120 countries helping customers find , evaluate , drill , produce , transport and process hydrocarbon resources .our revenue is predominately generated from the sale of products and services to major , national , and independent oil and natural gas companies worldwide , and is dependent on spending by our customers for oil and natural gas exploration , field development and production .this spending is driven by a number of factors , including our customers' forecasts of future energy demand and supply , their access to resources to develop and produce oil and natural gas , their ability to fund their capital programs , the impact of new government regulations and most importantly , their expectations for oil and natural gas prices as a key driver of their cash flows .oil and natural gas prices oil and natural gas prices are summarized in the table below as averages of the daily closing prices during each of the periods indicated. .
[['', '2018', '2017', '2016'], ['brent oil prices ( $ /bbl ) ( 1 )', '$ 71.34', '$ 54.12', '$ 43.64'], ['wti oil prices ( $ /bbl ) ( 2 )', '65.23', '50.80', '43.29'], ['natural gas prices ( $ /mmbtu ) ( 3 )', '3.15', '2.99', '2.52']]
brent oil prices ( $ /bbl ) ( 1 ) $ 71.34 $ 54.12 $ 43.64 wti oil prices ( $ /bbl ) ( 2 ) 65.23 50.80 43.29 natural gas prices ( $ /mmbtu ) ( 3 ) 3.15 2.99 2.52 ( 1 ) energy information administration ( eia ) europe brent spot price per barrel ( 2 ) eia cushing , ok wti ( west texas intermediate ) spot price ( 3 ) eia henry hub natural gas spot price per million british thermal unit 2018 demonstrated the volatility of the oil and gas market .through the first three quarters of 2018 , we experienced stability in the north american and international markets .however , in the fourth quarter of 2018 commodity prices dropped nearly 40% ( 40 % ) resulting in increased customer uncertainty .from an offshore standpoint , through most of 2018 , we saw multiple large offshore projects reach positive final investment decisions , and the lng market and outlook improved throughout 2018 , driven by increased demand globally .in 2018 , the first large north american lng positive final investment decision was reached .outside of north america , customer spending is highly driven by brent oil prices , which increased on average throughout the year .average brent oil prices increased to $ 71.34/bbl in 2018 from $ 54.12/bbl in 2017 , and ranged from a low of $ 50.57/bbl in december 2018 , to a high of $ 86.07/bbl in october 2018 .for the first three quarters of 2018 , brent oil prices increased sequentially .however , in the fourth quarter , brent oil prices declined 39% ( 39 % ) versus the end of the third quarter , as a result of increased supply from the u.s. , worries of a global economic slowdown , and lower than expected production cuts .in north america , customer spending is highly driven by wti oil prices , which similar to brent oil prices , on average increased throughout the year .average wti oil prices increased to $ 65.23/bbl in 2018 from $ 50.80/bbl in 2017 , and ranged from a low of $ 44.48/bbl in december 2018 , to a high of $ 77.41/bbl in june 2018 .in north america , natural gas prices , as measured by the henry hub natural gas spot price , averaged $ 3.15/ mmbtu in 2018 , representing a 6% ( 6 % ) increase over the prior year .throughout the year , henry hub natural gas spot prices ranged from a high of $ 6.24/mmbtu in january 2018 to a low of $ 2.49/mmbtu in february 2018 .according to the u.s .department of energy ( doe ) , working natural gas in storage at the end of 2018 was 2705 billion cubic feet ( bcf ) , which was 15.6% ( 15.6 % ) , or 421 bcf , below the corresponding week in 2017. .
|
what is the growth rate in brent oil prices from 2017 to 2018?
|
31.8%
|
{
"answer": "31.8%",
"decimal": 0.318,
"type": "percentage"
}
| |
( a ) the net change in the total valuation allowance for the years ended december 31 , 2018 and 2017 was an increase of $ 12 million and an increase of $ 26 million , respectively .deferred income tax assets and liabilities are recorded in the accompanying consolidated balance sheet under the captions deferred charges and other assets and deferred income taxes .there was a decrease in deferred income tax assets principally relating to the utilization of u.s .federal alternative minimum tax credits as permitted under tax reform .deferred tax liabilities increased primarily due to the tax deferral of the book gain recognized on the transfer of the north american consumer packaging business to a subsidiary of graphic packaging holding company .of the $ 1.5 billion of deferred tax liabilities for forestlands , related installment sales , and investment in subsidiary , $ 884 million is attributable to an investment in subsidiary and relates to a 2006 international paper installment sale of forestlands and $ 538 million is attributable to a 2007 temple-inland installment sale of forestlands ( see note 14 ) .a reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended december 31 , 2018 , 2017 and 2016 is as follows: .
[['in millions', '2018', '2017', '2016'], ['balance at january 1', '$ -188 ( 188 )', '$ -98 ( 98 )', '$ -150 ( 150 )'], ['( additions ) reductions based on tax positions related to current year', '-7 ( 7 )', '-54 ( 54 )', '-4 ( 4 )'], ['( additions ) for tax positions of prior years', '-37 ( 37 )', '-40 ( 40 )', '-3 ( 3 )'], ['reductions for tax positions of prior years', '5', '4', '33'], ['settlements', '2', '6', '19'], ['expiration of statutes oflimitations', '2', '1', '5'], ['currency translation adjustment', '3', '-7 ( 7 )', '2'], ['balance at december 31', '$ -220 ( 220 )', '$ -188 ( 188 )', '$ -98 ( 98 )']]
if the company were to prevail on the unrecognized tax benefits recorded , substantially all of the balances at december 31 , 2018 , 2017 and 2016 would benefit the effective tax rate .the company accrues interest on unrecognized tax benefits as a component of interest expense .penalties , if incurred , are recognized as a component of income tax expense .the company had approximately $ 21 million and $ 17 million accrued for the payment of estimated interest and penalties associated with unrecognized tax benefits at december 31 , 2018 and 2017 , respectively .the major jurisdictions where the company files income tax returns are the united states , brazil , france , poland and russia .generally , tax years 2006 through 2017 remain open and subject to examination by the relevant tax authorities .the company frequently faces challenges regarding the amount of taxes due .these challenges include positions taken by the company related to the timing , nature , and amount of deductions and the allocation of income among various tax jurisdictions .pending audit settlements and the expiration of statute of limitations could reduce the uncertain tax positions by $ 30 million during the next twelve months .the brazilian federal revenue service has challenged the deductibility of goodwill amortization generated in a 2007 acquisition by international paper do brasil ltda. , a wholly-owned subsidiary of the company .the company received assessments for the tax years 2007-2015 totaling approximately $ 150 million in tax , and $ 380 million in interest and penalties as of december 31 , 2018 ( adjusted for variation in currency exchange rates ) .after a previous favorable ruling challenging the basis for these assessments , we received an unfavorable decision in october 2018 from the brazilian administrative council of tax appeals .the company intends to further appeal the matter in the brazilian federal courts in 2019 ; however , this tax litigation matter may take many years to resolve .the company believes that it has appropriately evaluated the transaction underlying these assessments , and has concluded based on brazilian tax law , that its tax position would be sustained .the company intends to vigorously defend its position against the current assessments and any similar assessments that may be issued for tax years subsequent to 2015 .international paper uses the flow-through method to account for investment tax credits earned on eligible open-loop biomass facilities and combined heat and power system expenditures .under this method , the investment tax credits are recognized as a reduction to income tax expense in the year they are earned rather than a reduction in the asset basis .the company recorded a tax benefit of $ 6 million during 2018 and recorded a tax benefit of $ 68 million during 2017 related to investment tax credits earned in tax years 2013-2017. .
|
considering the years 2016-2018 , what is the average value for settlements , in millions?
|
9
|
{
"answer": "9",
"decimal": 9,
"type": "float"
}
|
it is the sum of all values divided by three .
|
bhge 2018 form 10-k | 85 it is expected that the amount of unrecognized tax benefits will change in the next twelve months due to expiring statutes , audit activity , tax payments , and competent authority proceedings related to transfer pricing or final decisions in matters that are the subject of litigation in various taxing jurisdictions in which we operate .at december 31 , 2018 , we had approximately $ 96 million of tax liabilities , net of $ 1 million of tax assets , related to uncertain tax positions , each of which are individually insignificant , and each of which are reasonably possible of being settled within the next twelve months .we conduct business in more than 120 countries and are subject to income taxes in most taxing jurisdictions in which we operate .all internal revenue service examinations have been completed and closed through year end 2015 for the most significant u.s .returns .we believe there are no other jurisdictions in which the outcome of unresolved issues or claims is likely to be material to our results of operations , financial position or cash flows .we further believe that we have made adequate provision for all income tax uncertainties .note 13 .stock-based compensation in july 2017 , we adopted the bhge 2017 long-term incentive plan ( lti plan ) under which we may grant stock options and other equity-based awards to employees and non-employee directors providing services to the company and our subsidiaries .a total of up to 57.4 million shares of class a common stock are authorized for issuance pursuant to awards granted under the lti plan over its term which expires on the date of the annual meeting of the company in 2027 .a total of 46.2 million shares of class a common stock are available for issuance as of december 31 , 2018 .stock-based compensation cost was $ 121 million and $ 37 million in 2018 and 2017 , respectively .stock-based compensation cost is measured at the date of grant based on the calculated fair value of the award and is generally recognized on a straight-line basis over the vesting period of the equity grant .the compensation cost is determined based on awards ultimately expected to vest ; therefore , we have reduced the cost for estimated forfeitures based on historical forfeiture rates .forfeitures are estimated at the time of grant and revised , if necessary , in subsequent periods to reflect actual forfeitures .there were no stock-based compensation costs capitalized as the amounts were not material .stock options we may grant stock options to our officers , directors and key employees .stock options generally vest in equal amounts over a three-year vesting period provided that the employee has remained continuously employed by the company through such vesting date .the fair value of each stock option granted is estimated using the black- scholes option pricing model .the following table presents the weighted average assumptions used in the option pricing model for options granted under the lti plan .the expected life of the options represents the period of time the options are expected to be outstanding .the expected life is based on a simple average of the vesting term and original contractual term of the awards .the expected volatility is based on the historical volatility of our five main competitors over a six year period .the risk-free interest rate is based on the observed u.s .treasury yield curve in effect at the time the options were granted .the dividend yield is based on a five year history of dividend payouts in baker hughes. .
[['', '2018', '2017'], ['expected life ( years )', '6', '6'], ['risk-free interest rate', '2.5% ( 2.5 % )', '2.1% ( 2.1 % )'], ['volatility', '33.7% ( 33.7 % )', '36.4% ( 36.4 % )'], ['dividend yield', '2% ( 2 % )', '1.2% ( 1.2 % )'], ['weighted average fair value per share at grant date', '$ 10.34', '$ 12.32']]
baker hughes , a ge company notes to consolidated and combined financial statements .
|
what portion of the authorized shares under the lti plan is issued as of december 31 , 2018?
|
19.5%
|
{
"answer": "19.5%",
"decimal": 0.195,
"type": "percentage"
}
| |
part ii item 5 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our ordinary shares have been publicly traded since november 17 , 2011 when our ordinary shares were listed and began trading on the new york stock exchange ( 201cnyse 201d ) under the symbol 201cdlph . 201d on december 4 , 2017 , following the spin-off of delphi technologies , the company changed its name to aptiv plc and its nyse symbol to 201captv . 201d as of january 25 , 2019 , there were 2 shareholders of record of our ordinary shares .the following graph reflects the comparative changes in the value from december 31 , 2013 through december 31 , 2018 , assuming an initial investment of $ 100 and the reinvestment of dividends , if any in ( 1 ) our ordinary shares , ( 2 ) the s&p 500 index and ( 3 ) the automotive peer group .historical share prices of our ordinary shares have been adjusted to reflect the separation .historical performance may not be indicative of future shareholder returns .stock performance graph * $ 100 invested on december 31 , 2013 in our stock or in the relevant index , including reinvestment of dividends .fiscal year ended december 31 , 2018 .( 1 ) aptiv plc , adjusted for the distribution of delphi technologies on december 4 , 2017 ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive peer group 2013 adient plc , american axle & manufacturing holdings inc , aptiv plc , borgwarner inc , cooper tire & rubber co , cooper- standard holdings inc , dana inc , dorman products inc , ford motor co , garrett motion inc. , general motors co , gentex corp , gentherm inc , genuine parts co , goodyear tire & rubber co , lear corp , lkq corp , meritor inc , motorcar parts of america inc , standard motor products inc , stoneridge inc , superior industries international inc , tenneco inc , tesla inc , tower international inc , visteon corp , wabco holdings inc company index december 31 , december 31 , december 31 , december 31 , december 31 , december 31 .
[['company index', 'december 31 2013', 'december 31 2014', 'december 31 2015', 'december 31 2016', 'december 31 2017', 'december 31 2018'], ['aptiv plc ( 1 )', '$ 100.00', '$ 122.75', '$ 146.49', '$ 117.11', '$ 178.46', '$ 130.80'], ['s&p 500 ( 2 )', '100.00', '113.69', '115.26', '129.05', '157.22', '150.33'], ['automotive peer group ( 3 )', '100.00', '107.96', '108.05', '107.72', '134.04', '106.89']]
.
|
what is the highest return for the second year of the investment?
|
46.49%
|
{
"answer": "46.49%",
"decimal": 0.46490000000000004,
"type": "percentage"
}
|
it is the maximum value turned into a percentage to represent the return .
|
appropriate statistical bases .total expense for repairs and maintenance incurred was $ 2.5 billion for 2015 , $ 2.4 billion for 2014 , and $ 2.3 billion for 2013 .assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .13 .accounts payable and other current liabilities dec .31 , dec .31 , millions 2015 2014 .
[['millions', 'dec . 31 2015', 'dec . 31 2014'], ['accounts payable', '$ 743', '$ 877'], ['income and other taxes payable', '434', '412'], ['accrued wages and vacation', '391', '409'], ['interest payable', '208', '178'], ['accrued casualty costs', '181', '249'], ['equipment rents payable', '105', '100'], ['dividends payable [a]', '-', '438'], ['other', '550', '640'], ['total accounts payable and other current liabilities', '$ 2612', '$ 3303']]
[a] beginning in 2015 , the timing of the dividend declaration and payable dates was aligned to occur within the same quarter .the 2015 dividends paid amount includes the fourth quarter 2014 dividend of $ 438 million , which was paid on january 2 , 2015 , the first quarter 2015 dividend of $ 484 million , which was paid on march 30 , 2015 , the second quarter 2015 dividend of $ 479 million , which was paid on june 30 , 2015 , the third quarter 2015 dividend of $ 476 million , which was paid on september 30 , 2015 , as well as the fourth quarter 2015 dividend of $ 467 million , which was paid on december 30 , 2015 .14 .financial instruments strategy and risk 2013 we may use derivative financial instruments in limited instances for other than trading purposes to assist in managing our overall exposure to fluctuations in interest rates and fuel prices .we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes .derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period .we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk- management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness .changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings .we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable interest rate and fuel price movements .market and credit risk 2013 we address market risk related to derivative financial instruments by selecting instruments with value fluctuations that highly correlate with the underlying hedged item .we manage credit risk related to derivative financial instruments , which is minimal , by requiring high credit standards for counterparties and periodic settlements .at december 31 , 2015 , and 2014 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities .interest rate fair value hedges 2013 we manage our overall exposure to fluctuations in interest rates by adjusting the proportion of fixed and floating rate debt instruments within our debt portfolio over a given period .we generally manage the mix of fixed and floating rate debt through the issuance of targeted amounts of each as debt matures or as we require incremental borrowings .we employ derivatives , primarily swaps , as one of the tools to obtain the targeted mix .in addition , we also obtain flexibility in managing interest costs and the interest rate mix within our debt portfolio by evaluating the issuance of and managing outstanding callable fixed-rate debt securities .swaps allow us to convert debt from fixed rates to variable rates and thereby hedge the risk of changes in the debt 2019s fair value attributable to the changes in interest rates .we account for swaps as fair value hedges using the short-cut method ; therefore , we do not record any ineffectiveness within our .
|
what was the percentage change in equipment rents payable from 2014 to 2015?
|
5%
|
{
"answer": "5%",
"decimal": 0.05,
"type": "percentage"
}
| |
stock price performance the following graph shows a comparison of the cumulative total return on our common stock , the standard & poor 2019s 500 index and the standard & poor 2019s retail index .the graph assumes that the value of an investment in our common stock and in each such index was $ 100 on january 3 , 2009 , and that any dividends have been reinvested .the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock .comparison of cumulative total return among advance auto parts , inc. , s&p 500 index and s&p retail index company/index january 3 , january 2 , january 1 , december 31 , december 29 , december 28 .
[['company/index', 'january 3 2009', 'january 2 2010', 'january 1 2011', 'december 31 2011', 'december 29 2012', 'december 28 2013'], ['advance auto parts', '$ 100.00', '$ 119.28', '$ 195.80', '$ 206.86', '$ 213.14', '$ 327.63'], ['s&p 500 index', '100.00', '119.67', '134.97', '134.96', '150.51', '197.62'], ['s&p retail index', '100.00', '141.28', '174.70', '179.79', '219.77', '321.02']]
.
|
from 2009 to 2012 , what percentage return did advance auto parts beat the overall market?
|
advance auto parts had a 62.63% greater return than the overall market
|
{
"answer": "advance auto parts had a 62.63% greater return than the overall market",
"decimal": 0.6263000000000001,
"type": "percentage"
}
|
to find the return for both stocks one would calculate the amount the company changed from 2009 to 2012 in a percentage . then take the answers for both the companies and subtract them from each other .
|
2012 ppg annual report and form 10-k 45 costs related to these notes , which totaled $ 17 million , will be amortized to interest expense over the respective terms of the notes .in august 2010 , ppg entered into a three-year credit agreement with several banks and financial institutions ( the "2010 credit agreement" ) which was subsequently terminated in july 2012 .the 2010 credit agreement provided for a $ 1.2 billion unsecured revolving credit facility .in connection with entering into the 2010 credit agreement , the company terminated its 20ac650 million and its $ 1 billion revolving credit facilities that were each set to expire in 2011 .there were no outstanding amounts due under either revolving facility at the times of their termination .the 2010 credit agreement was set to terminate on august 5 , 2013 .ppg 2019s non-u.s .operations have uncommitted lines of credit totaling $ 705 million of which $ 34 million was used as of december 31 , 2012 .these uncommitted lines of credit are subject to cancellation at any time and are generally not subject to any commitment fees .short-term debt outstanding as of december 31 , 2012 and 2011 , was as follows: .
[['( millions )', '2012', '2011'], ['other weighted average 2.27% ( 2.27 % ) as of dec . 31 2012 and 3.72% ( 3.72 % ) as of december 31 2011', '$ 39', '$ 33'], ['total', '$ 39', '$ 33']]
ppg is in compliance with the restrictive covenants under its various credit agreements , loan agreements and indentures .the company 2019s revolving credit agreements include a financial ratio covenant .the covenant requires that the amount of total indebtedness not exceed 60% ( 60 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments .as of december 31 , 2012 , total indebtedness was 42% ( 42 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments .additionally , substantially all of the company 2019s debt agreements contain customary cross- default provisions .those provisions generally provide that a default on a debt service payment of $ 10 million or more for longer than the grace period provided ( usually 10 days ) under one agreement may result in an event of default under other agreements .none of the company 2019s primary debt obligations are secured or guaranteed by the company 2019s affiliates .interest payments in 2012 , 2011 and 2010 totaled $ 219 million , $ 212 million and $ 189 million , respectively .in october 2009 , the company entered into an agreement with a counterparty to repurchase up to 1.2 million shares of the company 2019s stock of which 1.1 million shares were purchased in the open market ( 465006 of these shares were purchased as of december 31 , 2009 at a weighted average price of $ 56.66 per share ) .the counterparty held the shares until september of 2010 when the company paid $ 65 million and took possession of these shares .rental expense for operating leases was $ 233 million , $ 249 million and $ 233 million in 2012 , 2011 and 2010 , respectively .the primary leased assets include paint stores , transportation equipment , warehouses and other distribution facilities , and office space , including the company 2019s corporate headquarters located in pittsburgh , pa .minimum lease commitments for operating leases that have initial or remaining lease terms in excess of one year as of december 31 , 2012 , are ( in millions ) $ 171 in 2013 , $ 135 in 2014 , $ 107 in 2015 , $ 83 in 2016 , $ 64 in 2017 and $ 135 thereafter .the company had outstanding letters of credit and surety bonds of $ 119 million as of december 31 , 2012 .the letters of credit secure the company 2019s performance to third parties under certain self-insurance programs and other commitments made in the ordinary course of business .as of december 31 , 2012 and 2011 , guarantees outstanding were $ 96 million and $ 90 million , respectively .the guarantees relate primarily to debt of certain entities in which ppg has an ownership interest and selected customers of certain of the company 2019s businesses .a portion of such debt is secured by the assets of the related entities .the carrying values of these guarantees were $ 11 million and $ 13 million as of december 31 , 2012 and 2011 , respectively , and the fair values were $ 11 million and $ 21 million , as of december 31 , 2012 and 2011 , respectively .the fair value of each guarantee was estimated by comparing the net present value of two hypothetical cash flow streams , one based on ppg 2019s incremental borrowing rate and the other based on the borrower 2019s incremental borrowing rate , as of the effective date of the guarantee .both streams were discounted at a risk free rate of return .the company does not believe any loss related to these letters of credit , surety bonds or guarantees is likely .9 .fair value measurement the accounting guidance on fair value measurements establishes a hierarchy with three levels of inputs used to determine fair value .level 1 inputs are quoted prices ( unadjusted ) in active markets for identical assets and liabilities , are considered to be the most reliable evidence of fair value , and should be used whenever available .level 2 inputs are observable prices that are not quoted on active exchanges .level 3 inputs are unobservable inputs employed for measuring the fair value of assets or liabilities .table of contents notes to the consolidated financial statements .
|
what was the change in millions of rental expense for operating leases from 2010 to 2011?
|
16
|
{
"answer": "16",
"decimal": 16,
"type": "float"
}
| |
the total intrinsic value of options exercised ( i.e .the difference between the market price at exercise and the price paid by the employee to exercise the options ) during fiscal 2011 , 2010 and 2009 was $ 96.5 million , $ 29.6 million and $ 4.7 million , respectively .the total amount of proceeds received by the company from exercise of these options during fiscal 2011 , 2010 and 2009 was $ 217.4 million , $ 240.4 million and $ 15.1 million , respectively .proceeds from stock option exercises pursuant to employee stock plans in the company 2019s statement of cash flows of $ 217.2 million , $ 216.1 million and $ 12.4 million for fiscal 2011 , 2010 and 2009 , respectively , are net of the value of shares surrendered by employees in certain limited circumstances to satisfy the exercise price of options , and to satisfy employee tax obligations upon vesting of restricted stock or restricted stock units and in connection with the exercise of stock options granted to the company 2019s employees under the company 2019s equity compensation plans .the withholding amount is based on the company 2019s minimum statutory withholding requirement .a summary of the company 2019s restricted stock unit award activity as of october 29 , 2011 and changes during the year then ended is presented below : restricted outstanding weighted- average grant- date fair value per share .
[['', 'restricted stock units outstanding', 'weighted- average grant- date fair value per share'], ['restricted stock units outstanding at october 30 2010', '1265', '$ 28.21'], ['units granted', '898', '$ 34.93'], ['restrictions lapsed', '-33 ( 33 )', '$ 24.28'], ['units forfeited', '-42 ( 42 )', '$ 31.39'], ['restricted stock units outstanding at october 29 2011', '2088', '$ 31.10']]
as of october 29 , 2011 , there was $ 88.6 million of total unrecognized compensation cost related to unvested share-based awards comprised of stock options and restricted stock units .that cost is expected to be recognized over a weighted-average period of 1.3 years .the total grant-date fair value of shares that vested during fiscal 2011 , 2010 and 2009 was approximately $ 49.6 million , $ 67.7 million and $ 74.4 million , respectively .common stock repurchase program the company 2019s common stock repurchase program has been in place since august 2004 .in the aggregate , the board of directors has authorized the company to repurchase $ 5 billion of the company 2019s common stock under the program .under the program , the company may repurchase outstanding shares of its common stock from time to time in the open market and through privately negotiated transactions .unless terminated earlier by resolution of the company 2019s board of directors , the repurchase program will expire when the company has repurchased all shares authorized under the program .as of october 29 , 2011 , the company had repurchased a total of approximately 125.0 million shares of its common stock for approximately $ 4278.5 million under this program .an additional $ 721.5 million remains available for repurchase of shares under the current authorized program .the repurchased shares are held as authorized but unissued shares of common stock .any future common stock repurchases will be dependent upon several factors , including the amount of cash available to the company in the united states and the company 2019s financial performance , outlook and liquidity .the company also from time to time repurchases shares in settlement of employee tax withholding obligations due upon the vesting of restricted stock units , or in certain limited circumstances to satisfy the exercise price of options granted to the company 2019s employees under the company 2019s equity compensation plans .analog devices , inc .notes to consolidated financial statements 2014 ( continued ) .
|
what was the average share price that the shares were repurchased in 2011?
|
$ 34.23 million
|
{
"answer": "$ 34.23 million",
"decimal": 34230000,
"type": "money"
}
|
to find the average price that the company repurchase it shares at one must divide the amount paid by the number of shares bought .
|
other taxes decreased in 2001 because its utility operations in virginia became subject to state income taxes in lieu of gross receipts taxes effective january 2001 .in addition , dominion recognized higher effective rates for foreign earnings and higher pretax income in relation to non-conventional fuel tax credits realized .dominion energy 2002 2001 2000 ( millions , except per share amounts ) .
[['( millions except pershare amounts )', '2002', '2001', '2000'], ['operating revenue', '$ 5940', '$ 6144', '$ 4894'], ['operating expenses', '4520', '4749', '3939'], ['net income contribution', '770', '723', '489'], ['earnings per share contribution', '$ 2.72', '$ 2.86', '$ 2.07'], ['electricity supplied* ( million mwhrs )', '101', '95', '83'], ['gas transmission throughput ( bcf )', '597', '553', '567']]
* amounts presented are for electricity supplied by utility and merchant generation operations .operating results 2014 2002 dominion energy contributed $ 2.72 per diluted share on net income of $ 770 million for 2002 , a net income increase of $ 47 million and an earnings per share decrease of $ 0.14 over 2001 .net income for 2002 reflected lower operating revenue ( $ 204 million ) , operating expenses ( $ 229 million ) and other income ( $ 27 million ) .interest expense and income taxes , which are discussed on a consolidated basis , decreased $ 50 million over 2001 .the earnings per share decrease reflected share dilution .regulated electric sales revenue increased $ 179 million .favorable weather conditions , reflecting increased cooling and heating degree-days , as well as customer growth , are estimated to have contributed $ 133 million and $ 41 million , respectively .fuel rate recoveries increased approximately $ 65 million for 2002 .these recoveries are generally offset by increases in elec- tric fuel expense and do not materially affect income .partially offsetting these increases was a net decrease of $ 60 million due to other factors not separately measurable , such as the impact of economic conditions on customer usage , as well as variations in seasonal rate premiums and discounts .nonregulated electric sales revenue increased $ 9 million .sales revenue from dominion 2019s merchant generation fleet decreased $ 21 million , reflecting a $ 201 million decline due to lower prices partially offset by sales from assets acquired and constructed in 2002 and the inclusion of millstone operations for all of 2002 .revenue from the wholesale marketing of utility generation decreased $ 74 million .due to the higher demand of utility service territory customers during 2002 , less production from utility plant generation was available for profitable sale in the wholesale market .revenue from retail energy sales increased $ 71 million , reflecting primarily customer growth over the prior year .net revenue from dominion 2019s electric trading activities increased $ 33 million , reflecting the effect of favorable price changes on unsettled contracts and higher trading margins .nonregulated gas sales revenue decreased $ 351 million .the decrease included a $ 239 million decrease in sales by dominion 2019s field services and retail energy marketing opera- tions , reflecting to a large extent declining prices .revenue associated with gas trading operations , net of related cost of sales , decreased $ 112 million .the decrease included $ 70 mil- lion of realized and unrealized losses on the economic hedges of natural gas production by the dominion exploration & pro- duction segment .as described below under selected information 2014 energy trading activities , sales of natural gas by the dominion exploration & production segment at market prices offset these financial losses , resulting in a range of prices contemplated by dominion 2019s overall risk management strategy .the remaining $ 42 million decrease was due to unfavorable price changes on unsettled contracts and lower overall trading margins .those losses were partially offset by contributions from higher trading volumes in gas and oil markets .gas transportation and storage revenue decreased $ 44 million , primarily reflecting lower rates .electric fuel and energy purchases expense increased $ 94 million which included an increase of $ 66 million associated with dominion 2019s energy marketing operations that are not sub- ject to cost-based rate regulation and an increase of $ 28 million associated with utility operations .substantially all of the increase associated with non-regulated energy marketing opera- tions related to higher volumes purchased during the year .for utility operations , energy costs increased $ 66 million for pur- chases subject to rate recovery , partially offset by a $ 38 million decrease in fuel expenses associated with lower wholesale mar- keting of utility plant generation .purchased gas expense decreased $ 245 million associated with dominion 2019s field services and retail energy marketing oper- ations .this decrease reflected approximately $ 162 million asso- ciated with declining prices and $ 83 million associated with lower purchased volumes .liquids , pipeline capacity and other purchases decreased $ 64 million , primarily reflecting comparably lower levels of rate recoveries of certain costs of transmission operations in the cur- rent year period .the difference between actual expenses and amounts recovered in the period are deferred pending future rate adjustments .other operations and maintenance expense decreased $ 14 million , primarily reflecting an $ 18 million decrease in outage costs due to fewer generation unit outages in the current year .depreciation expense decreased $ 11 million , reflecting decreases in depreciation associated with changes in the esti- mated useful lives of certain electric generation property , par- tially offset by increased depreciation associated with state line and millstone operations .other income decreased $ 27 million , including a $ 14 mil- lion decrease in net realized investment gains in the millstone 37d o m i n i o n 2019 0 2 a n n u a l r e p o r t .
|
what is the growth rate in operating revenue from 2000 to 2001?
|
25.5%
|
{
"answer": "25.5%",
"decimal": 0.255,
"type": "percentage"
}
| |
fair value of the tangible assets and identifiable intangible assets acquired , was $ 17.7 million .goodwill resulted primarily from the company 2019s expectation of synergies from the integration of sigma-c 2019s technology with the company 2019s technology and operations .virtio corporation , inc .( virtio ) the company acquired virtio on may 15 , 2006 in an all-cash transaction .reasons for the acquisition .the company believes that its acquisition of virtio will expand its presence in electronic system level design .the company expects the combination of the company 2019s system studio solution with virtio 2019s virtual prototyping technology will help accelerate systems to market by giving software developers the ability to begin code development earlier than with prevailing methods .purchase price .the company paid $ 9.1 million in cash for the outstanding shares of virtio , of which $ 0.9 million was deposited with an escrow agent and which will be paid to the former stockholders of virtio pursuant to the terms of an escrow agreement .in addition , the company had a prior investment in virtio of approximately $ 1.7 million .the total purchase consideration consisted of: .
[['', '( in thousands )'], ['cash paid', '$ 9076'], ['prior investment in virtio', '1664'], ['acquisition-related costs', '713'], ['total purchase price', '$ 11453']]
acquisition-related costs of $ 0.7 million consist primarily of legal , tax and accounting fees , estimated facilities closure costs and employee termination costs .as of october 31 , 2006 , the company had paid $ 0.3 million of the acquisition-related costs .the $ 0.4 million balance remaining at october 31 , 2006 primarily consists of professional and tax-related service fees and facilities closure costs .under the agreement with virtio , the company has also agreed to pay up to $ 4.3 million over three years to the former stockholders based upon achievement of certain sales milestones .this contingent consideration is considered to be additional purchase price and will be an adjustment to goodwill when and if payment is made .additionally , the company has also agreed to pay $ 0.9 million in employee retention bonuses which will be recognized as compensation expense over the service period of the applicable employees .assets acquired .the company has performed a preliminary valuation and allocated the total purchase consideration to the assets and liabilities acquired , including identifiable intangible assets based on their respective fair values on the acquisition date .the company acquired $ 2.5 million of intangible assets consisting of $ 1.9 million in existing technology , $ 0.4 million in customer relationships and $ 0.2 million in non-compete agreements to be amortized over five to seven years .additionally , the company acquired tangible assets of $ 5.5 million and assumed liabilities of $ 3.2 million .goodwill , representing the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in the merger , was $ 6.7 million .goodwill resulted primarily from the company 2019s expectation of synergies from the integration of virtio 2019s technology with the company 2019s technology and operations .hpl technologies , inc .( hpl ) the company acquired hpl on december 7 , 2005 in an all-cash transaction .reasons for the acquisition .the company believes that the acquisition of hpl will help solidify the company 2019s position as a leading electronic design automation vendor in design for manufacturing ( dfm ) .
|
what is the percentage of cash paid among the total purchase price?
|
79.24%
|
{
"answer": "79.24%",
"decimal": 0.7924,
"type": "percentage"
}
|
it is the value of cash paid divided by the total purchase price , then turned into a percentage .
|
we maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry .as such , we have no control over activities that could materially impact the fair value of the leased assets .we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies .additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase options are not considered to be potentially significant to the vies .the future minimum lease payments associated with the vie leases totaled $ 2.6 billion as of december 31 , 2015 .17 .leases we lease certain locomotives , freight cars , and other property .the consolidated statements of financial position as of december 31 , 2015 and 2014 included $ 2273 million , net of $ 1189 million of accumulated depreciation , and $ 2454 million , net of $ 1210 million of accumulated depreciation , respectively , for properties held under capital leases .a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income .future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2015 , were as follows : millions operating leases capital leases .
[['millions', 'operatingleases', 'capitalleases'], ['2016', '$ 491', '$ 217'], ['2017', '446', '220'], ['2018', '371', '198'], ['2019', '339', '184'], ['2020', '282', '193'], ['later years', '1501', '575'], ['total minimum lease payments', '$ 3430', '$ 1587'], ['amount representing interest', 'n/a', '-319 ( 319 )'], ['present value of minimum lease payments', 'n/a', '$ 1268']]
approximately 95% ( 95 % ) of capital lease payments relate to locomotives .rent expense for operating leases with terms exceeding one month was $ 590 million in 2015 , $ 593 million in 2014 , and $ 618 million in 2013 .when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term .contingent rentals and sub-rentals are not significant .18 .commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries .we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity .to the extent possible , we have recorded a liability where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated .we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters .personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year .we use an actuarial analysis to measure the expense and liability , including unasserted claims .the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents .under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements .we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work .our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments .approximately 94% ( 94 % ) of the recorded liability is related to asserted claims and .
|
what percentage of total minimum lease payments are operating leases leases?
|
68%
|
{
"answer": "68%",
"decimal": 0.68,
"type": "percentage"
}
| |
92 | 2017 form 10-k finite-lived intangible assets are amortized over their estimated useful lives and tested for impairment if events or changes in circumstances indicate that the asset may be impaired .in 2016 , gross customer relationship intangibles of $ 96 million and related accumulated amortization of $ 27 million as well as gross intellectual property intangibles of $ 111 million and related accumulated amortization of $ 48 million from the resource industries segment were impaired .the fair value of these intangibles was determined to be insignificant based on an income approach using expected cash flows .the fair value determination is categorized as level 3 in the fair value hierarchy due to its use of internal projections and unobservable measurement inputs .the total impairment of $ 132 million was a result of restructuring activities and is included in other operating ( income ) expense in statement 1 .see note 25 for information on restructuring costs .amortization expense related to intangible assets was $ 323 million , $ 326 million and $ 337 million for 2017 , 2016 and 2015 , respectively .as of december 31 , 2017 , amortization expense related to intangible assets is expected to be : ( millions of dollars ) .
[['2018', '2019', '2020', '2021', '2022', 'thereafter'], ['$ 322', '$ 316', '$ 305', '$ 287', '$ 268', '$ 613']]
b .goodwill there were no goodwill impairments during 2017 or 2015 .our annual impairment tests completed in the fourth quarter of 2016 indicated the fair value of each reporting unit was substantially above its respective carrying value , including goodwill , with the exception of our surface mining & technology reporting unit .the surface mining & technology reporting unit , which primarily serves the mining industry , is a part of our resource industries segment .the goodwill assigned to this reporting unit is largely from our acquisition of bucyrus international , inc .in 2011 .its product portfolio includes large mining trucks , electric rope shovels , draglines , hydraulic shovels and related parts .in addition to equipment , surface mining & technology also develops and sells technology products and services to provide customer fleet management , equipment management analytics and autonomous machine capabilities .the annual impairment test completed in the fourth quarter of 2016 indicated that the fair value of surface mining & technology was below its carrying value requiring the second step of the goodwill impairment test process .the fair value of surface mining & technology was determined primarily using an income approach based on a discounted ten year cash flow .we assigned the fair value to surface mining & technology 2019s assets and liabilities using various valuation techniques that required assumptions about royalty rates , dealer attrition , technological obsolescence and discount rates .the resulting implied fair value of goodwill was below the carrying value .accordingly , we recognized a goodwill impairment charge of $ 595 million , which resulted in goodwill of $ 629 million remaining for surface mining & technology as of october 1 , 2016 .the fair value determination is categorized as level 3 in the fair value hierarchy due to its use of internal projections and unobservable measurement inputs .there was a $ 17 million tax benefit associated with this impairment charge. .
|
what is the expected growth rate in amortization expense in 2019?
|
-1.9%
|
{
"answer": "-1.9%",
"decimal": -0.019,
"type": "percentage"
}
| |
liquidity and capital resources as of december 31 , 2011 , our principal sources of liquidity included cash , cash equivalents , our receivables securitization facility , and our revolving credit facility , as well as the availability of commercial paper and other sources of financing through the capital markets .we had $ 1.8 billion of committed credit available under our credit facility , with no borrowings outstanding as of december 31 , 2011 .we did not make any borrowings under this facility during 2011 .the value of the outstanding undivided interest held by investors under the receivables securitization facility was $ 100 million as of december 31 , 2011 , and is included in our consolidated statements of financial position as debt due after one year .the receivables securitization facility obligates us to maintain an investment grade bond rating .if our bond rating were to deteriorate , it could have an adverse impact on our liquidity .access to commercial paper as well as other capital market financings is dependent on market conditions .deterioration of our operating results or financial condition due to internal or external factors could negatively impact our ability to access capital markets as a source of liquidity .access to liquidity through the capital markets is also dependent on our financial stability .we expect that we will continue to have access to liquidity by issuing bonds to public or private investors based on our assessment of the current condition of the credit markets .at december 31 , 2011 and 2010 , we had a working capital surplus .this reflects a strong cash position , which provides enhanced liquidity in an uncertain economic environment .in addition , we believe we have adequate access to capital markets to meet cash requirements , and we have sufficient financial capacity to satisfy our current liabilities .cash flows millions 2011 2010 2009 .
[['cash flowsmillions', '2011', '2010', '2009'], ['cash provided by operating activities', '$ 5873', '$ 4105', '$ 3204'], ['cash used in investing activities', '-3119 ( 3119 )', '-2488 ( 2488 )', '-2145 ( 2145 )'], ['cash used in financing activities', '-2623 ( 2623 )', '-2381 ( 2381 )', '-458 ( 458 )'], ['net change in cash and cashequivalents', '$ 131', '$ -764 ( 764 )', '$ 601']]
operating activities higher net income and lower cash income tax payments in 2011 increased cash provided by operating activities compared to 2010 .the tax relief , unemployment insurance reauthorization , and job creation act of 2010 , enacted in december 2010 , provided for 100% ( 100 % ) bonus depreciation for qualified investments made during 2011 , and 50% ( 50 % ) bonus depreciation for qualified investments made during 2012 .as a result of the act , the company deferred a substantial portion of its 2011 income tax expense .this deferral decreased 2011 income tax payments , thereby contributing to the positive operating cash flow .in future years , however , additional cash will be used to pay income taxes that were previously deferred .in addition , the adoption of a new accounting standard in january of 2010 changed the accounting treatment for our receivables securitization facility from a sale of undivided interests ( recorded as an operating activity ) to a secured borrowing ( recorded as a financing activity ) , which decreased cash provided by operating activities by $ 400 million in 2010 .higher net income in 2010 increased cash provided by operating activities compared to 2009 .investing activities higher capital investments partially offset by higher proceeds from asset sales in 2011 drove the increase in cash used in investing activities compared to 2010 .higher capital investments and lower proceeds from asset sales in 2010 drove the increase in cash used in investing activities compared to 2009. .
|
what was the change in cash provided by operating activities from 2010 to 2011 , in millions?
|
1768
|
{
"answer": "1768",
"decimal": 1768,
"type": "float"
}
| |
five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the dj trans , and the s&p 500 .the graph assumes that $ 100 was invested in the common stock of union pacific corporation and each index on december 31 , 2007 and that all dividends were reinvested .purchases of equity securities 2013 during 2012 , we repurchased 13804709 shares of our common stock at an average price of $ 115.33 .the following table presents common stock repurchases during each month for the fourth quarter of 2012 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares that may yet be purchased under the plan or program [b] .
[['period', 'total number ofsharespurchased [a]', 'averageprice paidper share', 'total number of sharespurchased as part of apublicly announced planor program [b]', 'maximum number ofshares that may yetbe purchased under the planor program [b]'], ['oct . 1 through oct . 31', '1068414', '121.70', '1028300', '16041399'], ['nov . 1 through nov . 30', '659631', '120.84', '655000', '15386399'], ['dec . 1 through dec . 31', '411683', '124.58', '350450', '15035949'], ['total', '2139728', '$ 121.99', '2033750', 'n/a']]
[a] total number of shares purchased during the quarter includes approximately 105978 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares .[b] on april 1 , 2011 , our board of directors authorized the repurchase of up to 40 million shares of our common stock by march 31 , 2014 .these repurchases may be made on the open market or through other transactions .our management has sole discretion with respect to determining the timing and amount of these transactions. .
|
what percentage of the total number of shares purchased were purchased in november?
|
31%
|
{
"answer": "31%",
"decimal": 0.31,
"type": "percentage"
}
| |
abiomed , inc .and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 8 .stock award plans and stock-based compensation ( continued ) restricted stock and restricted stock units the following table summarizes restricted stock and restricted stock unit activity for the fiscal year ended march 31 , 2012 : number of shares ( in thousands ) weighted average grant date fair value ( per share ) .
[['', 'number of shares ( in thousands )', 'weighted average grant date fair value ( per share )'], ['restricted stock and restricted stock units at beginning of year', '407', '$ 9.84'], ['granted', '607', '18.13'], ['vested', '-134 ( 134 )', '10.88'], ['forfeited', '-9 ( 9 )', '13.72'], ['restricted stock and restricted stock units at end of year', '871', '$ 15.76']]
the remaining unrecognized compensation expense for outstanding restricted stock and restricted stock units , including performance-based awards , as of march 31 , 2012 was $ 7.1 million and the weighted-average period over which this cost will be recognized is 2.2 years .the weighted average grant-date fair value for restricted stock and restricted stock units granted during the years ended march 31 , 2012 , 2011 , and 2010 was $ 18.13 , $ 10.00 and $ 7.67 per share , respectively .the total fair value of restricted stock and restricted stock units vested in fiscal years 2012 , 2011 , and 2010 was $ 1.5 million , $ 1.0 million and $ 0.4 million , respectively .performance-based awards included in the restricted stock and restricted stock units activity discussed above are certain awards granted in fiscal years 2012 , 2011 and 2010 that vest subject to certain performance-based criteria .in june 2010 , 311000 shares of restricted stock and a performance-based award for the potential issuance of 45000 shares of common stock were issued to certain executive officers and members of senior management of the company , all of which would vest upon achievement of prescribed service milestones by the award recipients and performance milestones by the company .during the year ended march 31 , 2011 , the company determined that it met the prescribed performance targets and a portion of these shares and stock options vested .the remaining shares will vest upon satisfaction of prescribed service conditions by the award recipients .during the three months ended june 30 , 2011 , the company determined that it should have been using the graded vesting method instead of the straight-line method to expense stock-based compensation for the performance-based awards issued in june 2010 .this resulted in additional stock based compensation expense of approximately $ 0.6 million being recorded during the three months ended june 30 , 2011 that should have been recorded during the year ended march 31 , 2011 .the company believes that the amount is not material to its march 31 , 2011 consolidated financial statements and therefore recorded the adjustment in the quarter ended june 30 , 2011 .during the three months ended june 30 , 2011 , performance-based awards of restricted stock units for the potential issuance of 284000 shares of common stock were issued to certain executive officers and members of the senior management , all of which would vest upon achievement of prescribed service milestones by the award recipients and revenue performance milestones by the company .as of march 31 , 2012 , the company determined that it met the prescribed targets for 184000 shares underlying these awards and it believes it is probable that the prescribed performance targets will be met for the remaining 100000 shares , and the compensation expense is being recognized accordingly .during the year ended march 31 , 2012 , the company has recorded $ 3.3 million in stock-based compensation expense for equity awards in which the prescribed performance milestones have been achieved or are probable of being achieved .the remaining unrecognized compensation expense related to these equity awards at march 31 , 2012 is $ 3.6 million based on the company 2019s current assessment of probability of achieving the performance milestones .the weighted-average period over which this cost will be recognized is 2.1 years. .
|
what is the net change in the number of shares for restricted stock and restricted stock units during fiscal year ended march 31 , 2012?
|
464
|
{
"answer": "464",
"decimal": 464,
"type": "float"
}
| |
blackrock n 96 n notes in april 2009 , the company acquired $ 2 million of finite- lived management contracts with a five-year estimated useful life associated with the acquisition of the r3 capital partners funds .in december 2009 , in conjunction with the bgi trans- action , the company acquired $ 163 million of finite- lived management contracts with a weighted-average estimated useful life of approximately 10 years .estimated amortization expense for finite-lived intangible assets for each of the five succeeding years is as follows : ( dollar amounts in millions ) .
[['2010', '$ 160'], ['2011', '157'], ['2012', '156'], ['2013', '155'], ['2014', '149']]
indefinite-lived acquired management contracts on september 29 , 2006 , in conjunction with the mlim transaction , the company acquired indefinite-lived man- agement contracts valued at $ 4477 million consisting of $ 4271 million for all retail mutual funds and $ 206 million for alternative investment products .on october 1 , 2007 , in conjunction with the quellos transaction , the company acquired $ 631 million in indefinite-lived management contracts associated with alternative investment products .on october 1 , 2007 , the company purchased the remain- ing 20% ( 20 % ) of an investment manager of a fund of hedge funds .in conjunction with this transaction , the company recorded $ 8 million in additional indefinite-lived management contracts associated with alternative investment products .on december 1 , 2009 , in conjunction with the bgi transaction , the company acquired $ 9785 million in indefinite-lived management contracts valued consisting primarily for exchange traded funds and common and collective trusts .indefinite-lived acquired trade names/trademarks on december 1 , 2009 , in conjunction with the bgi transaction , the company acquired trade names/ trademarks primarily related to ishares valued at $ 1402.5 million .the fair value was determined using a royalty rate based primarily on normalized marketing and promotion expenditures to develop and support the brands globally .13 .borrowings short-term borrowings 2007 facility in august 2007 , the company entered into a five-year $ 2.5 billion unsecured revolving credit facility ( the 201c2007 facility 201d ) , which permits the company to request an additional $ 500 million of borrowing capacity , subject to lender credit approval , up to a maximum of $ 3.0 billion .the 2007 facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to earnings before interest , taxes , depreciation and amortiza- tion , where net debt equals total debt less domestic unrestricted cash ) of 3 to 1 , which was satisfied with a ratio of less than 1 to 1 at december 31 , 2009 .the 2007 facility provides back-up liquidity , funds ongoing working capital for general corporate purposes and funds various investment opportunities .at december 31 , 2009 , the company had $ 200 million outstanding under the 2007 facility with an interest rate of 0.44% ( 0.44 % ) and a maturity date during february 2010 .during february 2010 , the company rolled over $ 100 million in borrowings with an interest rate of 0.43% ( 0.43 % ) and a maturity date in may 2010 .lehman commercial paper inc .has a $ 140 million participation under the 2007 facility ; however blackrock does not expect that lehman commercial paper inc .will honor its commitment to fund additional amounts .bank of america , a related party , has a $ 140 million participation under the 2007 facility .in december 2007 , in order to support two enhanced cash funds that blackrock manages , blackrock elected to procure two letters of credit under the existing 2007 facility in an aggregate amount of $ 100 million .in decem- ber 2008 , the letters of credit were terminated .commercial paper program on october 14 , 2009 , blackrock established a com- mercial paper program ( the 201ccp program 201d ) under which the company may issue unsecured commercial paper notes ( the 201ccp notes 201d ) on a private placement basis up to a maximum aggregate amount outstanding at any time of $ 3 billion .the proceeds of the commercial paper issuances were used for the financing of a portion of the bgi transaction .subsidiaries of bank of america and barclays , as well as other third parties , act as dealers under the cp program .the cp program is supported by the 2007 facility .the company began issuance of cp notes under the cp program on november 4 , 2009 .as of december 31 , 2009 , blackrock had approximately $ 2 billion of out- standing cp notes with a weighted average interest rate of 0.20% ( 0.20 % ) and a weighted average maturity of 23 days .since december 31 , 2009 , the company repaid approxi- mately $ 1.4 billion of cp notes with proceeds from the long-term notes issued in december 2009 .as of march 5 , 2010 , blackrock had $ 596 million of outstanding cp notes with a weighted average interest rate of 0.18% ( 0.18 % ) and a weighted average maturity of 38 days .japan commitment-line in june 2008 , blackrock japan co. , ltd. , a wholly owned subsidiary of the company , entered into a five billion japanese yen commitment-line agreement with a bank- ing institution ( the 201cjapan commitment-line 201d ) .the term of the japan commitment-line was one year and interest accrued at the applicable japanese short-term prime rate .in june 2009 , blackrock japan co. , ltd .renewed the japan commitment-line for a term of one year .the japan commitment-line is intended to provide liquid- ity and flexibility for operating requirements in japan .at december 31 , 2009 , the company had no borrowings outstanding on the japan commitment-line .convertible debentures in february 2005 , the company issued $ 250 million aggregate principal amount of convertible debentures ( the 201cdebentures 201d ) , due in 2035 and bearing interest at a rate of 2.625% ( 2.625 % ) per annum .interest is payable semi- annually in arrears on february 15 and august 15 of each year , and commenced august 15 , 2005 .prior to february 15 , 2009 , the debentures could have been convertible at the option of the holder at a decem- ber 31 , 2008 conversion rate of 9.9639 shares of common stock per one dollar principal amount of debentures under certain circumstances .the debentures would have been convertible into cash and , in some situations as described below , additional shares of the company 2019s common stock , if during the five business day period after any five consecutive trading day period the trading price per debenture for each day of such period is less than 103% ( 103 % ) of the product of the last reported sales price of blackrock 2019s common stock and the conversion rate of the debentures on each such day or upon the occurrence of certain other corporate events , such as a distribution to the holders of blackrock common stock of certain rights , assets or debt securities , if the company becomes party to a merger , consolidation or transfer of all or substantially all of its assets or a change of control of the company .on february 15 , 2009 , the debentures became convertible into cash at any time prior to maturity at the option of the holder and , in some situations as described below , additional shares of the company 2019s common stock at the current conversion rate .at the time the debentures are tendered for conver- sion , for each one dollar principal amount of debentures converted , a holder shall be entitled to receive cash and shares of blackrock common stock , if any , the aggregate value of which ( the 201cconversion value 201d ) will be deter- mined by multiplying the applicable conversion rate by the average of the daily volume weighted average price of blackrock common stock for each of the ten consecutive trading days beginning on the second trading day imme- diately following the day the debentures are tendered for conversion ( the 201cten-day weighted average price 201d ) .the company will deliver the conversion value to holders as follows : ( 1 ) an amount in cash ( the 201cprincipal return 201d ) equal to the lesser of ( a ) the aggregate conversion value of the debentures to be converted and ( b ) the aggregate principal amount of the debentures to be converted , and ( 2 ) if the aggregate conversion value of the debentures to be converted is greater than the principal return , an amount in shares ( the 201cnet shares 201d ) , determined as set forth below , equal to such aggregate conversion value less the principal return ( the 201cnet share amount 201d ) .the number of net shares to be paid will be determined by dividing the net share amount by the ten-day weighted average price .in lieu of delivering fractional shares , the company will deliver cash based on the ten-day weighted average price .the conversion rate for the debentures is subject to adjustments upon the occurrence of certain corporate events , such as a change of control of the company , 193253ti_txt.indd 96 4/2/10 1:18 pm .
|
what is the annual amortization expense related to bgi transaction of 2009 under a straight-line amortization method , in millions?
|
16.3
|
{
"answer": "16.3",
"decimal": 16.3,
"type": "float"
}
| |
82 | 2017 form 10-k a reconciliation of the beginning and ending amount of gross unrecognized tax benefits for uncertain tax positions , including positions impacting only the timing of tax benefits , follows .reconciliation of unrecognized tax benefits:1 years a0ended a0december a031 .
[['( millions of dollars )', 'years ended december 31 , 2017', 'years ended december 31 , 2016'], ['balance at january 1,', '$ 1032', '$ 968'], ['additions for tax positions related to current year', '270', '73'], ['additions for tax positions related to prior years', '20', '55'], ['reductions for tax positions related to prior years', '-27 ( 27 )', '-36 ( 36 )'], ['reductions for settlements2', '-9 ( 9 )', '-24 ( 24 )'], ['reductions for expiration of statute of limitations', '2014', '-4 ( 4 )'], ['balance at december 31,', '$ 1286', '$ 1032'], ['amount that if recognized would impact the effective tax rate', '$ 1209', '$ 963']]
1 foreign currency impacts are included within each line as applicable .2 includes cash payment or other reduction of assets to settle liability .we classify interest and penalties on income taxes as a component of the provision for income taxes .we recognized a net provision for interest and penalties of $ 38 million , $ 34 million and $ 20 million during the years ended december 31 , 2017 , 2016 and 2015 , respectively .the total amount of interest and penalties accrued was $ 157 million and $ 120 million as of december a031 , 2017 and 2016 , respectively .on january 31 , 2018 , we received a revenue agent 2019s report from the irs indicating the end of the field examination of our u.s .income tax returns for 2010 to 2012 .in the audits of 2007 to 2012 including the impact of a loss carryback to 2005 , the irs has proposed to tax in the united states profits earned from certain parts transactions by csarl , based on the irs examination team 2019s application of the 201csubstance-over-form 201d or 201cassignment-of-income 201d judicial doctrines .we are vigorously contesting the proposed increases to tax and penalties for these years of approximately $ 2.3 billion .we believe that the relevant transactions complied with applicable tax laws and did not violate judicial doctrines .we have filed u.s .income tax returns on this same basis for years after 2012 .based on the information currently available , we do not anticipate a significant increase or decrease to our unrecognized tax benefits for this matter within the next 12 months .we currently believe the ultimate disposition of this matter will not have a material adverse effect on our consolidated financial position , liquidity or results of operations .with the exception of a loss carryback to 2005 , tax years prior to 2007 are generally no longer subject to u.s .tax assessment .in our major non-u.s .jurisdictions including australia , brazil , china , germany , japan , mexico , switzerland , singapore and the u.k. , tax years are typically subject to examination for three to ten years .due to the uncertainty related to the timing and potential outcome of audits , we cannot estimate the range of reasonably possible change in unrecognized tax benefits in the next 12 months. .
|
what is the percentage change net provision for interest and penalties from 2016 to 2017?
|
11.8%
|
{
"answer": "11.8%",
"decimal": 0.11800000000000001,
"type": "percentage"
}
| |
when the likelihood of clawback is considered mathematically improbable .the company records a deferred carried interest liability to the extent it receives cash or capital allocations related to carried interest prior to meeting the revenue recognition criteria .at december 31 , 2017 and 2016 , the company had $ 219 million and $ 152 million , respectively , of deferred carried interest recorded in other liabilities/other liabilities of consolidated vies on the consolidated statements of financial condition .a portion of the deferred carried interest liability will be paid to certain employees .the ultimate timing of the recognition of performance fee revenue , if any , for these products is unknown .the following table presents changes in the deferred carried interest liability ( including the portion related to consolidated vies ) for 2017 and 2016: .
[['( in millions )', '2017', '2016'], ['beginning balance', '$ 152', '$ 143'], ['net increase ( decrease ) in unrealized allocations', '75', '37'], ['performance fee revenue recognized', '-21 ( 21 )', '-28 ( 28 )'], ['acquisition', '13', '2014'], ['ending balance', '$ 219', '$ 152']]
for 2017 , 2016 and 2015 , performance fee revenue ( which included recognized carried interest ) totaled $ 594 million , $ 295 million and $ 621 million , respectively .fees earned for technology and risk management revenue are recorded as services are performed and are generally determined using the value of positions on the aladdin platform or on a fixed-rate basis .for 2017 , 2016 and 2016 , technology and risk management revenue totaled $ 677 million , $ 595 million and $ 528 million , respectively .adjustments to revenue arising from initial estimates recorded historically have been immaterial since the majority of blackrock 2019s investment advisory and administration revenue is calculated based on aum and since the company does not record performance fee revenue until performance thresholds have been exceeded and the likelihood of clawback is mathematically improbable .accounting developments recent accounting pronouncements not yet adopted .revenue from contracts with customers .in may 2014 , the financial accounting standards board ( 201cfasb 201d ) issued accounting standards update ( 201casu 201d ) 2014-09 , revenue from contracts with customers ( 201casu 2014-09 201d ) .asu 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance , including industry-specific guidance .the guidance also changes the accounting for certain contract costs and revises the criteria for determining if an entity is acting as a principal or agent in certain arrangements .the key changes in the standard that impact the company 2019s revenue recognition relate to the presentation of certain revenue contracts and associated contract costs .the most significant of these changes relates to the presentation of certain distribution costs , which are currently presented net against revenues ( contra-revenue ) and will be presented as an expense on a gross basis .the company adopted asu 2014-09 effective january 1 , 2018 on a full retrospective basis , which will require 2016 and 2017 to be restated in future filings .the cumulative effect adjustment to the 2016 opening retained earnings was not material .the company currently expects the net gross up to revenue to be approximately $ 1 billion with a corresponding gross up to expense for both 2016 and 2017 .consequently , the company expects its gaap operating margin to decline upon adoption due to the gross up of revenue .however , no material impact is expected on the company 2019s as adjusted operating margin .for accounting pronouncements that the company adopted during the year ended december 31 , 2017 and for additional recent accounting pronouncements not yet adopted , see note 2 , significant accounting policies , in the consolidated financial statements contained in part ii , item 8 of this filing .item 7a .quantitative and qualitative disclosures about market risk aum market price risk .blackrock 2019s investment advisory and administration fees are primarily comprised of fees based on a percentage of the value of aum and , in some cases , performance fees expressed as a percentage of the returns realized on aum .at december 31 , 2017 , the majority of the company 2019s investment advisory and administration fees were based on average or period end aum of the applicable investment funds or separate accounts .movements in equity market prices , interest rates/credit spreads , foreign exchange rates or all three could cause the value of aum to decline , which would result in lower investment advisory and administration fees .corporate investments portfolio risks .as a leading investment management firm , blackrock devotes significant resources across all of its operations to identifying , measuring , monitoring , managing and analyzing market and operating risks , including the management and oversight of its own investment portfolio .the board of directors of the company has adopted guidelines for the review of investments to be made by the company , requiring , among other things , that investments be reviewed by certain senior officers of the company , and that certain investments may be referred to the audit committee or the board of directors , depending on the circumstances , for approval .in the normal course of its business , blackrock is exposed to equity market price risk , interest rate/credit spread risk and foreign exchange rate risk associated with its corporate investments .blackrock has investments primarily in sponsored investment products that invest in a variety of asset classes , including real assets , private equity and hedge funds .investments generally are made for co-investment purposes , to establish a performance track record , to hedge exposure to certain deferred compensation plans or for regulatory purposes .currently , the company has a seed capital hedging program in which it enters into swaps to hedge market and interest rate exposure to certain investments .at december 31 , 2017 , the company had outstanding total return swaps with an aggregate notional value of approximately $ 587 million .at december 31 , 2017 , there were no outstanding interest rate swaps. .
|
what is the growth rate in revenue related technology and risk management from 2016 to 2017?
|
13.8%
|
{
"answer": "13.8%",
"decimal": 0.138,
"type": "percentage"
}
| |
addition , fuel costs were lower as gross-ton miles decreased 9% ( 9 % ) .the fuel consumption rate ( c-rate ) , computed as gallons of fuel consumed divided by gross ton-miles in thousands , increased 1% ( 1 % ) compared to 2014 .decreases in heavier , more fuel-efficient shipments , decreased gross-ton miles and increased the c-rate .volume growth of 7% ( 7 % ) , as measured by gross ton-miles , drove the increase in fuel expense in 2014 compared to 2013 .this was essentially offset by lower locomotive diesel fuel prices , which averaged $ 2.97 per gallon ( including taxes and transportation costs ) in 2014 , compared to $ 3.15 in 2013 , along with a slight improvement in c-rate , computed as gallons of fuel consumed divided by gross ton-miles .depreciation 2013 the majority of depreciation relates to road property , including rail , ties , ballast , and other track material .a higher depreciable asset base , reflecting higher capital spending in recent years , increased depreciation expense in 2015 compared to 2014 .this increase was partially offset by our recent depreciation studies that resulted in lower depreciation rates for some asset classes .depreciation was up 7% ( 7 % ) in 2014 compared to 2013 .a higher depreciable asset base , reflecting higher ongoing capital spending drove the increase .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 .equipment and other rents expense decreased $ 4 million compared to 2014 primarily from a decrease in manifest and intermodal shipments , partially offset by growth in finished vehicle shipments .higher intermodal volumes and longer cycle times increased short-term freight car rental expense in 2014 compared to 2013 .lower equipment leases essentially offset the higher freight car rental expense , as we exercised purchase options on some of our leased equipment .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 .other expenses were flat in 2015 compared to 2014 as higher property taxes were offset by lower costs in other areas .higher property taxes , personal injury expense and utilities costs partially offset by lower environmental expense and costs associated with damaged freight resulted in an increase in other costs in 2014 compared to 2013 .non-operating items % ( % ) change % ( % ) change millions 2015 2014 2013 2015 v 2014 2014 v 2013 .
[['millions', '2015', '2014', '2013', '% ( % ) change 2015 v 2014', '% ( % ) change 2014 v 2013'], ['other income', '$ 226', '$ 151', '$ 128', '50% ( 50 % )', '18% ( 18 % )'], ['interest expense', '-622 ( 622 )', '-561 ( 561 )', '-526 ( 526 )', '11', '7'], ['income taxes', '-2884 ( 2884 )', '-3163 ( 3163 )', '-2660 ( 2660 )', '( 9 ) % ( % )', '19% ( 19 % )']]
other income 2013 other income increased in 2015 compared to 2014 primarily due to a $ 113 million gain from a real estate sale in the second quarter of 2015 , partially offset by a gain from the sale of a permanent easement in 2014 .other income increased in 2014 versus 2013 due to higher gains from real estate sales and a sale of a permanent easement .these gains were partially offset by higher environmental costs on non-operating property in 2014 and lower lease income due to the $ 17 million settlement of a land lease contract in interest expense 2013 interest expense increased in 2015 compared to 2014 due to an increased weighted- average debt level of $ 13.0 billion in 2015 from $ 10.7 billion in 2014 , partially offset by the impact of a lower effective interest rate of 4.8% ( 4.8 % ) in 2015 compared to 5.3% ( 5.3 % ) in 2014 .interest expense increased in 2014 versus 2013 due to an increased weighted-average debt level of $ 10.7 billion in 2014 from $ 9.6 billion in 2013 , which more than offset the impact of the lower effective interest rate of 5.3% ( 5.3 % ) in 2014 versus 5.7% ( 5.7 % ) in 2013. .
|
without the gain of $ 113 million from a real estate sale in the second quarter of 2015 what would other income have been in millions?
|
113
|
{
"answer": "113",
"decimal": 113,
"type": "float"
}
|
an adjustment to remove the extraneous one time event .
|
average cost of debt from 7.1% ( 7.1 % ) to an effective rate of 6.9% ( 6.9 % ) .the inclusion of the offsetting interest income from short-term investments reduced this effective rate to 6.26% ( 6.26 % ) .other financing activities during 2011 included the issuance of approximately 0.3 million shares of treasury stock for various incentive plans and the acquisition of 1.0 million shares of treasury stock primarily related to restricted stock withholding taxes .payments of restricted stock withholding taxes totaled $ 30 million .off-balance sheet variable interest entities information concerning off-balance sheet variable interest entities is set forth in note 12 variable interest entities and preferred securities of subsidiaries on pages 72 through 75 of item 8 .financial statements and supplementary data for discussion .liquidity and capital resources outlook for 2014 capital expenditures and long-term debt international paper expects to be able to meet projected capital expenditures , service existing debt and meet working capital and dividend requirements during 2014 through current cash balances and cash from operations .additionally , the company has existing credit facilities totaling $ 2.0 billion .the company was in compliance with all its debt covenants at december 31 , 2013 .the company 2019s financial covenants require the maintenance of a minimum net worth of $ 9 billion and a total debt-to- capital ratio of less than 60% ( 60 % ) .net worth is defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock plus any cumulative goodwill impairment charges .the calculation also excludes accumulated other comprehensive income/ loss and nonrecourse financial liabilities of special purpose entities .the total debt-to-capital ratio is defined as total debt divided by the sum of total debt plus net worth .at december 31 , 2013 , international paper 2019s net worth was $ 15.1 billion , and the total-debt- to-capital ratio was 39% ( 39 % ) .the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows .funding decisions will be guided by our capital structure planning objectives .the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense .the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors .maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy .at december 31 , 2013 , the company held long-term credit ratings of bbb ( stable outlook ) and baa3 ( stable outlook ) by s&p and moody 2019s , respectively .contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2013 , were as follows: .
[['in millions', '2014', '2015', '2016', '2017', '2018', 'thereafter'], ['maturities of long-term debt ( a )', '$ 661', '$ 498', '$ 571', '$ 285', '$ 1837', '$ 5636'], ['debt obligations with right of offset ( b )', '2014', '2014', '5185', '2014', '2014', '2014'], ['lease obligations', '171', '133', '97', '74', '59', '162'], ['purchase obligations ( c )', '3170', '770', '642', '529', '453', '2404'], ['total ( d )', '$ 4002', '$ 1401', '$ 6495', '$ 888', '$ 2349', '$ 8202']]
( a ) total debt includes scheduled principal payments only .( b ) represents debt obligations borrowed from non-consolidated variable interest entities for which international paper has , and intends to effect , a legal right to offset these obligations with investments held in the entities .accordingly , in its consolidated balance sheet at december 31 , 2013 , international paper has offset approximately $ 5.2 billion of interests in the entities against this $ 5.2 billion of debt obligations held by the entities ( see note 12 variable interest entities and preferred securities of subsidiaries on pages 72 through 75 in item 8 .financial statements and supplementary data ) .( c ) includes $ 3.3 billion relating to fiber supply agreements entered into at the time of the 2006 transformation plan forestland sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business .( d ) not included in the above table due to the uncertainty as to the amount and timing of the payment are unrecognized tax benefits of approximately $ 146 million .we consider the undistributed earnings of our foreign subsidiaries as of december 31 , 2013 , to be indefinitely reinvested and , accordingly , no u.s .income taxes have been provided thereon .as of december 31 , 2013 , the amount of cash associated with indefinitely reinvested foreign earnings was approximately $ 900 million .we do not anticipate the need to repatriate funds to the united states to satisfy domestic liquidity needs arising in the ordinary course of business , including liquidity needs associated with our domestic debt service requirements .pension obligations and funding at december 31 , 2013 , the projected benefit obligation for the company 2019s u.s .defined benefit plans determined under u.s .gaap was approximately $ 2.2 billion higher than the fair value of plan assets .approximately $ 1.8 billion of this amount relates to plans that are subject to minimum funding requirements .under current irs funding rules , the calculation of minimum funding requirements differs from the calculation of the present value of plan benefits ( the projected benefit obligation ) for accounting purposes .in december 2008 , the worker , retiree and employer recovery act of 2008 ( wera ) was passed by the u.s .congress which provided for pension funding relief and technical corrections .funding .
|
in 2013 what was the percentage of the contractual obligations for future payments for long term debt due in 2014
|
16.5%
|
{
"answer": "16.5%",
"decimal": 0.165,
"type": "percentage"
}
| |
table of contents hologic , inc .notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) location during fiscal 2009 .the company was responsible for a significant portion of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period , in accordance with asc 840 , leases , subsection 40-15-5 .during the year ended september 27 , 2008 , the company recorded an additional $ 4400 in fair market value of the building , which was completed in fiscal 2008 .this is in addition to the $ 3000 fair market value of the land and the $ 7700 fair market value related to the building constructed that cytyc had recorded as of october 22 , 2007 .the company has recorded such fair market value within property and equipment on its consolidated balance sheets .at september 26 , 2009 , the company has recorded $ 1508 in accrued expenses and $ 16329 in other long-term liabilities related to this obligation in the consolidated balance sheet .the term of the lease is for a period of approximately ten years with the option to extend for two consecutive five-year terms .the lease term commenced in may 2008 , at which time the company began transferring the company 2019s costa rican operations to this facility .it is expected that this process will be complete by february 2009 .at the completion of the construction period , the company reviewed the lease for potential sale-leaseback treatment in accordance with asc 840 , subsection 40 , sale-leaseback transactions ( formerly sfas no .98 ( 201csfas 98 201d ) , accounting for leases : sale-leaseback transactions involving real estate , sales-type leases of real estate , definition of the lease term , and initial direct costs of direct financing leases 2014an amendment of financial accounting standards board ( 201cfasb 201d ) statements no .13 , 66 , and 91 and a rescission of fasb statement no .26 and technical bulletin no .79-11 ) .based on its analysis , the company determined that the lease did not qualify for sale-leaseback treatment .therefore , the building , leasehold improvements and associated liabilities will remain on the company 2019s financial statements throughout the lease term , and the building and leasehold improvements will be depreciated on a straight line basis over their estimated useful lives of 35 years .future minimum lease payments , including principal and interest , under this lease were as follows at september 26 , 2009: .
[['', 'amount'], ['fiscal 2010', '$ 1508'], ['fiscal 2011', '1561'], ['fiscal 2012', '1616'], ['fiscal 2013', '1672'], ['fiscal 2014', '1731'], ['thereafter', '7288'], ['total minimum payments', '15376'], ['less-amount representing interest', '-6094 ( 6094 )'], ['total', '$ 9282']]
in addition , as a result of the merger with cytyc , the company assumed the obligation to a non-cancelable lease agreement for a building with approximately 146000 square feet located in marlborough , massachusetts , to be principally used as an additional manufacturing facility .in 2011 , the company will have an option to lease an additional 30000 square feet .as part of the lease agreement , the lessor agreed to allow the company to make significant renovations to the facility to prepare the facility for the company 2019s manufacturing needs .the company was responsible for a significant amount of the construction costs and therefore was deemed , for accounting purposes , to be the owner of the building during the construction period in accordance with asc 840-40-15-5 .the $ 13200 fair market value of the facility is included within property and equipment , net on the consolidated balance sheet .at september 26 , 2009 , the company has recorded $ 982 in accrued expenses and source : hologic inc , 10-k , november 24 , 2009 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely .the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law .past financial performance is no guarantee of future results. .
|
what percentage of lease payments will be paid after 2014?
|
78.5%
|
{
"answer": "78.5%",
"decimal": 0.785,
"type": "percentage"
}
|
to find this answer one must divide the amount of lease payments after 2014 by the total amount of lease payments .
|
other taxes decreased in 2001 because its utility operations in virginia became subject to state income taxes in lieu of gross receipts taxes effective january 2001 .in addition , dominion recognized higher effective rates for foreign earnings and higher pretax income in relation to non-conventional fuel tax credits realized .dominion energy 2002 2001 2000 ( millions , except per share amounts ) .
[['( millions except pershare amounts )', '2002', '2001', '2000'], ['operating revenue', '$ 5940', '$ 6144', '$ 4894'], ['operating expenses', '4520', '4749', '3939'], ['net income contribution', '770', '723', '489'], ['earnings per share contribution', '$ 2.72', '$ 2.86', '$ 2.07'], ['electricity supplied* ( million mwhrs )', '101', '95', '83'], ['gas transmission throughput ( bcf )', '597', '553', '567']]
* amounts presented are for electricity supplied by utility and merchant generation operations .operating results 2014 2002 dominion energy contributed $ 2.72 per diluted share on net income of $ 770 million for 2002 , a net income increase of $ 47 million and an earnings per share decrease of $ 0.14 over 2001 .net income for 2002 reflected lower operating revenue ( $ 204 million ) , operating expenses ( $ 229 million ) and other income ( $ 27 million ) .interest expense and income taxes , which are discussed on a consolidated basis , decreased $ 50 million over 2001 .the earnings per share decrease reflected share dilution .regulated electric sales revenue increased $ 179 million .favorable weather conditions , reflecting increased cooling and heating degree-days , as well as customer growth , are estimated to have contributed $ 133 million and $ 41 million , respectively .fuel rate recoveries increased approximately $ 65 million for 2002 .these recoveries are generally offset by increases in elec- tric fuel expense and do not materially affect income .partially offsetting these increases was a net decrease of $ 60 million due to other factors not separately measurable , such as the impact of economic conditions on customer usage , as well as variations in seasonal rate premiums and discounts .nonregulated electric sales revenue increased $ 9 million .sales revenue from dominion 2019s merchant generation fleet decreased $ 21 million , reflecting a $ 201 million decline due to lower prices partially offset by sales from assets acquired and constructed in 2002 and the inclusion of millstone operations for all of 2002 .revenue from the wholesale marketing of utility generation decreased $ 74 million .due to the higher demand of utility service territory customers during 2002 , less production from utility plant generation was available for profitable sale in the wholesale market .revenue from retail energy sales increased $ 71 million , reflecting primarily customer growth over the prior year .net revenue from dominion 2019s electric trading activities increased $ 33 million , reflecting the effect of favorable price changes on unsettled contracts and higher trading margins .nonregulated gas sales revenue decreased $ 351 million .the decrease included a $ 239 million decrease in sales by dominion 2019s field services and retail energy marketing opera- tions , reflecting to a large extent declining prices .revenue associated with gas trading operations , net of related cost of sales , decreased $ 112 million .the decrease included $ 70 mil- lion of realized and unrealized losses on the economic hedges of natural gas production by the dominion exploration & pro- duction segment .as described below under selected information 2014 energy trading activities , sales of natural gas by the dominion exploration & production segment at market prices offset these financial losses , resulting in a range of prices contemplated by dominion 2019s overall risk management strategy .the remaining $ 42 million decrease was due to unfavorable price changes on unsettled contracts and lower overall trading margins .those losses were partially offset by contributions from higher trading volumes in gas and oil markets .gas transportation and storage revenue decreased $ 44 million , primarily reflecting lower rates .electric fuel and energy purchases expense increased $ 94 million which included an increase of $ 66 million associated with dominion 2019s energy marketing operations that are not sub- ject to cost-based rate regulation and an increase of $ 28 million associated with utility operations .substantially all of the increase associated with non-regulated energy marketing opera- tions related to higher volumes purchased during the year .for utility operations , energy costs increased $ 66 million for pur- chases subject to rate recovery , partially offset by a $ 38 million decrease in fuel expenses associated with lower wholesale mar- keting of utility plant generation .purchased gas expense decreased $ 245 million associated with dominion 2019s field services and retail energy marketing oper- ations .this decrease reflected approximately $ 162 million asso- ciated with declining prices and $ 83 million associated with lower purchased volumes .liquids , pipeline capacity and other purchases decreased $ 64 million , primarily reflecting comparably lower levels of rate recoveries of certain costs of transmission operations in the cur- rent year period .the difference between actual expenses and amounts recovered in the period are deferred pending future rate adjustments .other operations and maintenance expense decreased $ 14 million , primarily reflecting an $ 18 million decrease in outage costs due to fewer generation unit outages in the current year .depreciation expense decreased $ 11 million , reflecting decreases in depreciation associated with changes in the esti- mated useful lives of certain electric generation property , par- tially offset by increased depreciation associated with state line and millstone operations .other income decreased $ 27 million , including a $ 14 mil- lion decrease in net realized investment gains in the millstone 37d o m i n i o n 2019 0 2 a n n u a l r e p o r t .
|
what is the growth rate in operating revenue from 2001 to 2002?
|
-3.3%
|
{
"answer": "-3.3%",
"decimal": -0.033,
"type": "percentage"
}
| |
potentially responsible parties , and existing technology , laws , and regulations .the ultimate liability for remediation is difficult to determine because of the number of potentially responsible parties involved , site- specific cost sharing arrangements with other potentially responsible parties , the degree of contamination by various wastes , the scarcity and quality of volumetric data related to many of the sites , and the speculative nature of remediation costs .current obligations are not expected to have a material adverse effect on our consolidated results of operations , financial condition , or liquidity .personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year .we use third-party actuaries to assist us with measuring the expense and liability , including unasserted claims .the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents .under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements .we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work .annual expenses for personal injury-related events were $ 240 million in 2006 , $ 247 million in 2005 , and $ 288 million in 2004 .as of december 31 , 2006 and 2005 , we had accrued liabilities of $ 631 million and $ 619 million for future personal injury costs , respectively , of which $ 233 million and $ 274 million was recorded in current liabilities as accrued casualty costs , respectively .our personal injury liability is discounted to present value using applicable u.s .treasury rates .approximately 87% ( 87 % ) of the recorded liability related to asserted claims , and approximately 13% ( 13 % ) related to unasserted claims .estimates can vary over time due to evolving trends in litigation .our personal injury claims activity was as follows : claims activity 2006 2005 2004 .
[['claims activity', '2006', '2005', '2004'], ['open claims beginning balance', '4197', '4028', '4085'], ['new claims', '4190', '4584', '4366'], ['settled or dismissed claims', '-4261 ( 4261 )', '-4415 ( 4415 )', '-4423 ( 4423 )'], ['open claims ending balance at december 31', '4126', '4197', '4028']]
depreciation 2013 the railroad industry is capital intensive .properties are carried at cost .provisions for depreciation are computed principally on the straight-line method based on estimated service lives of depreciable property .the lives are calculated using a separate composite annual percentage rate for each depreciable property group , based on the results of internal depreciation studies .we are required to submit a report on depreciation studies and proposed depreciation rates to the stb for review and approval every three years for equipment property and every six years for road property .the cost ( net of salvage ) of depreciable railroad property retired or replaced in the ordinary course of business is charged to accumulated depreciation , and no gain or loss is recognized .a gain or loss is recognized in other income for all other property upon disposition because the gain or loss is not part of rail operations .the cost of internally developed software is capitalized and amortized over a five-year period .significant capital spending in recent years increased the total value of our depreciable assets .cash capital spending totaled $ 2.2 billion for the year ended december 31 , 2006 .for the year ended december 31 , 2006 , depreciation expense was $ 1.2 billion .we use various methods to estimate useful lives for each group of depreciable property .due to the capital intensive nature of the business and the large base of depreciable assets , variances to those estimates could have a material effect on our consolidated financial statements .if the estimated useful lives of all depreciable assets were increased by one year , annual depreciation expense would decrease by approximately $ 43 million .if the estimated useful lives of all assets to be depreciated were decreased by one year , annual depreciation expense would increase by approximately $ 45 million .income taxes 2013 as required under fasb statement no .109 , accounting for income taxes , we account for income taxes by recording taxes payable or refundable for the current year and deferred tax assets and liabilities for the future tax consequences of events that have been recognized in our financial statements or tax returns .these .
|
what was the percentage change in open claims ending balance at december 31 from 2004 to 2005?
|
4%
|
{
"answer": "4%",
"decimal": 0.04,
"type": "percentage"
}
| |
2010 .on november 1 , 2010 , we redeemed all $ 400 million of our outstanding 6.65% ( 6.65 % ) notes due january 15 , 2011 .the redemption resulted in a $ 5 million early extinguishment charge .receivables securitization facility 2013 at december 31 , 2010 , we have recorded $ 100 million as secured debt under our receivables securitization facility .( see further discussion of our receivables securitization facility in note 10. ) 15 .variable interest entities we have entered into various lease transactions in which the structure of the leases contain variable interest entities ( vies ) .these vies were created solely for the purpose of doing lease transactions ( principally involving railroad equipment and facilities ) and have no other activities , assets or liabilities outside of the lease transactions .within these lease arrangements , we have the right to purchase some or all of the assets at fixed prices .depending on market conditions , fixed-price purchase options available in the leases could potentially provide benefits to us ; however , these benefits are not expected to be significant .we maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry .as such , we have no control over activities that could materially impact the fair value of the leased assets .we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies .additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase price options are not considered to be potentially significant to the vie 2019s .the future minimum lease payments associated with the vie leases totaled $ 4.2 billion as of december 31 , 2010 .16 .leases we lease certain locomotives , freight cars , and other property .the consolidated statement of financial position as of december 31 , 2010 and 2009 included $ 2520 million , net of $ 901 million of accumulated depreciation , and $ 2754 million , net of $ 927 million of accumulated depreciation , respectively , for properties held under capital leases .a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income .future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2010 , were as follows : millions operating leases capital leases .
[['millions', 'operatingleases', 'capitalleases'], ['2011', '$ 613', '$ 311'], ['2012', '526', '251'], ['2013', '461', '253'], ['2014', '382', '261'], ['2015', '340', '262'], ['later years', '2599', '1355'], ['total minimum lease payments', '$ 4921', '$ 2693'], ['amount representing interest', 'n/a', '-784 ( 784 )'], ['present value of minimum lease payments', 'n/a', '$ 1909']]
the majority of capital lease payments relate to locomotives .rent expense for operating leases with terms exceeding one month was $ 624 million in 2010 , $ 686 million in 2009 , and $ 747 million in 2008 .when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term .contingent rentals and sub-rentals are not significant. .
|
how much less , in percentage , were the capital leases in 2011 than the operating leases?
|
49.3%
|
{
"answer": "49.3%",
"decimal": 0.493,
"type": "percentage"
}
| |
table of contents stock performance graph * $ 100 invested on 11/17/11 in our stock or 10/31/11 in the relevant index , including reinvestment of dividends .fiscal year ending december 31 , 2015 .( 1 ) delphi automotive plc ( 2 ) s&p 500 2013 standard & poor 2019s 500 total return index ( 3 ) automotive supplier peer group 2013 russell 3000 auto parts index , including american axle & manufacturing , borgwarner inc. , cooper tire & rubber company , dana holding corp. , delphi automotive plc , dorman products inc. , federal-mogul corp. , ford motor co. , fuel systems solutions inc. , general motors co. , gentex corp. , gentherm inc. , genuine parts co. , johnson controls inc. , lear corp. , lkq corp. , meritor inc. , standard motor products inc. , stoneridge inc. , superior industries international , tenneco inc. , tesla motors inc. , the goodyear tire & rubber co. , tower international inc. , visteon corp. , and wabco holdings inc .company index november 17 , december 31 , december 31 , december 31 , december 31 , december 31 .
[['company index', 'november 17 2011', 'december 31 2011', 'december 31 2012', 'december 31 2013', 'december 31 2014', 'december 31 2015'], ['delphi automotive plc ( 1 )', '$ 100.00', '$ 100.98', '$ 179.33', '$ 285.81', '$ 350.82', '$ 418.67'], ['s&p 500 ( 2 )', '100.00', '100.80', '116.93', '154.80', '175.99', '178.43'], ['automotive supplier peer group ( 3 )', '100.00', '89.62', '109.96', '166.26', '176.25', '171.91']]
dividends the company has declared and paid cash dividends of $ 0.25 per ordinary share in each quarter of 2014 and 2015 .in addition , in january 2016 , the board of directors increased the annual dividend rate to $ 1.16 per ordinary share , and declared a regular quarterly cash dividend of $ 0.29 per ordinary share , payable on february 29 , 2016 to shareholders of record at the close of business on february 17 , 2016. .
|
what is the lowest return for the last year of the investment?
|
71.91%
|
{
"answer": "71.91%",
"decimal": 0.7191,
"type": "percentage"
}
|
it is the minimum value turned into a percentage .
|
bhge 2018 form 10-k | 39 outstanding under the commercial paper program .the maximum combined borrowing at any time under both the 2017 credit agreement and the commercial paper program is $ 3 billion .if market conditions were to change and our revenue was reduced significantly or operating costs were to increase , our cash flows and liquidity could be reduced .additionally , it could cause the rating agencies to lower our credit rating .there are no ratings triggers that would accelerate the maturity of any borrowings under our committed credit facility .however , a downgrade in our credit ratings could increase the cost of borrowings under the credit facility and could also limit or preclude our ability to issue commercial paper .should this occur , we could seek alternative sources of funding , including borrowing under the credit facility .during the year ended december 31 , 2018 , we used cash to fund a variety of activities including certain working capital needs and restructuring costs , capital expenditures , the repayment of debt , payment of dividends , distributions to ge and share repurchases .we believe that cash on hand , cash flows generated from operations and the available credit facility will provide sufficient liquidity to manage our global cash needs .cash flows cash flows provided by ( used in ) each type of activity were as follows for the years ended december 31: .
[['( in millions )', '2018', '2017', '2016'], ['operating activities', '$ 1762', '$ -799 ( 799 )', '$ 262'], ['investing activities', '-578 ( 578 )', '-4123 ( 4123 )', '-472 ( 472 )'], ['financing activities', '-4363 ( 4363 )', '10919', '-102 ( 102 )']]
operating activities our largest source of operating cash is payments from customers , of which the largest component is collecting cash related to product or services sales including advance payments or progress collections for work to be performed .the primary use of operating cash is to pay our suppliers , employees , tax authorities and others for a wide range of material and services .cash flows from operating activities generated cash of $ 1762 million and used cash of $ 799 million for the years ended december 31 , 2018 and 2017 , respectively .cash flows from operating activities increased $ 2561 million in 2018 primarily driven by better operating performance .these cash inflows were supported by strong working capital cash flows , especially in the fourth quarter of 2018 , including approximately $ 300 million for a progress collection payment from a customer .included in our cash flows from operating activities for 2018 and 2017 are payments of $ 473 million and $ 612 million , respectively , made primarily for employee severance as a result of our restructuring activities and merger and related costs .cash flows from operating activities used $ 799 million and generated $ 262 million for the years ended december 31 , 2017 and 2016 , respectively .cash flows from operating activities decreased $ 1061 million in 2017 primarily driven by a $ 1201 million negative impact from ending our receivables monetization program in the fourth quarter , and restructuring related payments throughout the year .these cash outflows were partially offset by strong working capital cash flows , especially in the fourth quarter of 2017 .included in our cash flows from operating activities for 2017 and 2016 are payments of $ 612 million and $ 177 million , respectively , made for employee severance as a result of our restructuring activities and merger and related costs .investing activities cash flows from investing activities used cash of $ 578 million , $ 4123 million and $ 472 million for the years ended december 31 , 2018 , 2017 and 2016 , respectively .our principal recurring investing activity is the funding of capital expenditures to ensure that we have the appropriate levels and types of machinery and equipment in place to generate revenue from operations .expenditures for capital assets totaled $ 995 million , $ 665 million and $ 424 million for 2018 , 2017 and 2016 , respectively , partially offset by cash flows from the sale of property , plant and equipment of $ 458 million , $ 172 million and $ 20 million in 2018 , 2017 and 2016 , respectively .proceeds from the disposal of assets related primarily .
|
what is the net change in cash during 2017?
|
5997
|
{
"answer": "5997",
"decimal": 5997,
"type": "float"
}
| |
the impairment tests performed for intangible assets as of july 31 , 2013 , 2012 and 2011 indicated no impairment charges were required .estimated amortization expense for finite-lived intangible assets for each of the five succeeding years is as follows : ( in millions ) .
[['year', 'amount'], ['2014', '$ 156'], ['2015', '126'], ['2016', '91'], ['2017', '74'], ['2018', '24']]
indefinite-lived acquired management contracts in july 2013 , in connection with the credit suisse etf transaction , the company acquired $ 231 million of indefinite-lived management contracts .in march 2012 , in connection with the claymore transaction , the company acquired $ 163 million of indefinite-lived etp management contracts .finite-lived acquired management contracts in october 2013 , in connection with the mgpa transaction , the company acquired $ 29 million of finite-lived management contracts with a weighted-average estimated useful life of approximately eight years .in september 2012 , in connection with the srpep transaction , the company acquired $ 40 million of finite- lived management contracts with a weighted-average estimated useful life of approximately 10 years .11 .other assets at march 31 , 2013 , blackrock held an approximately one- third economic equity interest in private national mortgage acceptance company , llc ( 201cpnmac 201d ) , which is accounted for as an equity method investment and is included in other assets on the consolidated statements of financial condition .on may 8 , 2013 , pennymac became the sole managing member of pnmac in connection with an initial public offering of pennymac ( the 201cpennymac ipo 201d ) .as a result of the pennymac ipo , blackrock recorded a noncash , nonoperating pre-tax gain of $ 39 million related to the carrying value of its equity method investment .subsequent to the pennymac ipo , the company contributed 6.1 million units of its investment to a new donor advised fund ( the 201ccharitable contribution 201d ) .the fair value of the charitable contribution was $ 124 million and is included in general and administration expenses on the consolidated statements of income .in connection with the charitable contribution , the company also recorded a noncash , nonoperating pre-tax gain of $ 80 million related to the contributed investment and a tax benefit of approximately $ 48 million .the carrying value and fair value of the company 2019s remaining interest ( approximately 20% ( 20 % ) or 16 million shares and units ) was approximately $ 127 million and $ 273 million , respectively , at december 31 , 2013 .the fair value of the company 2019s interest reflected the pennymac stock price at december 31 , 2013 ( level 1 input ) .12 .borrowings short-term borrowings the carrying value of short-term borrowings at december 31 , 2012 included $ 100 million under the 2012 revolving credit facility .2013 revolving credit facility .in march 2011 , the company entered into a five-year $ 3.5 billion unsecured revolving credit facility ( the 201c2011 credit facility 201d ) .in march 2012 , the 2011 credit facility was amended to extend the maturity date by one year to march 2017 and in april 2012 the amount of the aggregate commitment was increased to $ 3.785 billion ( the 201c2012 credit facility 201d ) .in march 2013 , the company 2019s credit facility was amended to extend the maturity date by one year to march 2018 and the amount of the aggregate commitment was increased to $ 3.990 billion ( the 201c2013 credit facility 201d ) .the 2013 credit facility permits the company to request up to an additional $ 1.0 billion of borrowing capacity , subject to lender credit approval , increasing the overall size of the 2013 credit facility to an aggregate principal amount not to exceed $ 4.990 billion .interest on borrowings outstanding accrues at a rate based on the applicable london interbank offered rate plus a spread .the 2013 credit facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to earnings before interest , taxes , depreciation and amortization , where net debt equals total debt less unrestricted cash ) of 3 to 1 , which was satisfied with a ratio of less than 1 to 1 at december 31 , 2013 .the 2013 credit facility provides back- up liquidity , funds ongoing working capital for general corporate purposes and funds various investment opportunities .at december 31 , 2013 , the company had no amount outstanding under the 2013 credit facility .commercial paper program .on october 14 , 2009 , blackrock established a commercial paper program ( the 201ccp program 201d ) under which the company could issue unsecured commercial paper notes ( the 201ccp notes 201d ) on a private placement basis up to a maximum aggregate amount outstanding at any time of $ 3.0 billion .on may 13 , 2011 , blackrock increased the maximum aggregate amount that may be borrowed under the cp program to $ 3.5 billion .on may 17 , 2012 , blackrock increased the maximum aggregate amount to $ 3.785 billion .in april 2013 , blackrock increased the maximum aggregate amount for which the company could issue unsecured cp notes on a private-placement basis up to a maximum aggregate amount outstanding at any time of $ 3.990 billion .the commercial paper program is currently supported by the 2013 credit facility .at december 31 , 2013 and 2012 , blackrock had no cp notes outstanding. .
|
what is the percentage increase in the maximum aggregate amount that may be borrowed under the cp program from 2009 to 2011?
|
16.7%
|
{
"answer": "16.7%",
"decimal": 0.16699999999999998,
"type": "percentage"
}
| |
notes to the audited consolidated financial statements director stock compensation subplan eastman's 2018 director stock compensation subplan ( "directors' subplan" ) , a component of the 2017 omnibus plan , remains in effect until terminated by the board of directors or the earlier termination of the 2017 omnibus plan .the directors' subplan provides for structured awards of restricted shares to non-employee members of the board of directors .restricted shares awarded under the directors' subplan are subject to the same terms and conditions of the 2017 omnibus plan .the directors' subplan does not constitute a separate source of shares for grant of equity awards and all shares awarded are part of the 10 million shares authorized under the 2017 omnibus plan .shares of restricted stock are granted on the first day of a non- employee director's initial term of service and shares of restricted stock are granted each year to each non-employee director on the date of the annual meeting of stockholders .it has been the company's practice to issue new shares rather than treasury shares for equity awards for compensation plans , including the 2017 omnibus plan and the directors' subplan , that require settlement by the issuance of common stock and to withhold or accept back shares awarded to cover the related income tax obligations of employee participants .shares of unrestricted common stock owned by non-employee directors are not eligible to be withheld or acquired to satisfy the withholding obligation related to their income taxes .shares of unrestricted common stock owned by specified senior management level employees are accepted by the company to pay the exercise price of stock options in accordance with the terms and conditions of their awards .compensation expense for 2018 , 2017 , and 2016 , total share-based compensation expense ( before tax ) of approximately $ 64 million , $ 52 million , and $ 36 million , respectively , was recognized in "selling , general and administrative expense" in the consolidated statements of earnings , comprehensive income and retained earnings for all share-based awards of which approximately $ 9 million , $ 8 million , and $ 7 million , respectively , related to stock options .the compensation expense is recognized over the substantive vesting period , which may be a shorter time period than the stated vesting period for qualifying termination eligible employees as defined in the forms of award notice .approximately $ 3 million for 2018 , and $ 2 million for both 2017 and 2016 , of stock option compensation expense was recognized each year due to qualifying termination eligibility preceding the requisite vesting period .stock option awards options have been granted on an annual basis to non-employee directors under the directors' subplan and predecessor plans and by the compensation and management development committee of the board of directors under the 2017 omnibus plan and predecessor plans to employees .option awards have an exercise price equal to the closing price of the company's stock on the date of grant .the term of options is 10 years with vesting periods that vary up to three years .vesting usually occurs ratably over the vesting period or at the end of the vesting period .the company utilizes the black scholes merton option valuation model which relies on certain assumptions to estimate an option's fair value .the weighted average assumptions used in the determination of fair value for stock options awarded in 2018 , 2017 , and 2016 are provided in the table below: .
[['assumptions', '2018', '2017', '2016'], ['expected volatility rate', '19.03% ( 19.03 % )', '20.45% ( 20.45 % )', '23.71% ( 23.71 % )'], ['expected dividend yield', '2.48% ( 2.48 % )', '2.64% ( 2.64 % )', '2.31% ( 2.31 % )'], ['average risk-free interest rate', '2.61% ( 2.61 % )', '1.91% ( 1.91 % )', '1.23% ( 1.23 % )'], ['expected term years', '5.1', '5.0', '5.0']]
the volatility rate of grants is derived from historical company common stock price volatility over the same time period as the expected term of each stock option award .the volatility rate is derived by mathematical formula utilizing the weekly high closing stock price data over the expected term .the expected dividend yield is calculated using the company's average of the last four quarterly dividend yields .the average risk-free interest rate is derived from united states department of treasury published interest rates of daily yield curves for the same time period as the expected term. .
|
what was the sum of the approximate compensation expense recognized in millions
|
7
|
{
"answer": "7",
"decimal": 7,
"type": "float"
}
| |
note 11 .commitments and contingencies commitments leases the company fffds corporate headquarters is located in danvers , massachusetts .this facility encompasses most of the company fffds u.s .operations , including research and development , manufacturing , sales and marketing and general and administrative departments .in october 2017 , the acquired its corporate headquarters for approximately $ 16.5 million and terminated its existing lease arrangement ( see note 6 ) .future minimum lease payments under non-cancelable leases as of march 31 , 2018 are approximately as follows : fiscal years ending march 31 , operating leases ( in $ 000s ) .
[['fiscal years ending march 31,', 'operating leases ( in $ 000s )'], ['2019', '$ 2078'], ['2020', '1888'], ['2021', '1901'], ['2022', '1408'], ['2023', '891'], ['thereafter', '1923'], ['total minimum lease payments', '$ 10089']]
in february 2017 , the company entered into a lease agreement for an additional 21603 square feet of office space in danvers , massachusetts which expires on july 31 , 2022 .in december 2017 , the company entered into an amendment to this lease to extend the term through august 31 , 2025 and to add an additional 6607 square feet of space in which rent would begin around june 1 , 2018 .the amendment also allows the company a right of first offer to purchase the property from january 1 , 2018 through august 31 , 2035 , if the lessor decides to sell the building or receives an offer to purchase the building from a third-party buyer .in march 2018 , the company entered into an amendment to the lease to add an additional 11269 square feet of space for which rent will begin on or around june 1 , 2018 through august 31 , 2025 .the annual rent expense for this lease agreement is estimated to be $ 0.4 million .in september 2016 , the company entered into a lease agreement in berlin , germany which commenced in may 2017 and expires in may 2024 .the annual rent expense for the lease is estimated to be $ 0.3 million .in october 2016 , the company entered into a lease agreement for an office in tokyokk japan and expires in september 2021 .the office houses administrative , regulatory , and training personnel in connection with the company fffds commercial launch in japan .the annual rent expense for the lease is estimated to be $ 0.9 million .license agreements in april 2014 , the company entered into an exclusive license agreement for the rights to certain optical sensor technologies in the field of cardio-circulatory assist devices .pursuant to the terms of the license agreement , the company agreed to make potential payments of $ 6.0 million .through march 31 , 2018 , the company has made $ 3.5 million in milestones payments which included a $ 1.5 million upfront payment upon the execution of the agreement .any potential future milestone payment amounts have not been included in the contractual obligations table above due to the uncertainty related to the successful achievement of these milestones .contingencies from time to time , the company is involved in legal and administrative proceedings and claims of various types .in some actions , the claimants seek damages , as well as other relief , which , if granted , would require significant expenditures .the company records a liability in its consolidated financial statements for these matters when a loss is known or considered probable and the amount can be reasonably estimated .the company reviews these estimates each accounting period as additional information is known and adjusts the loss provision when appropriate .if a matter is both probable to result in liability and the amount of loss can be reasonably estimated , the company estimates and discloses the possible loss or range of loss .if the loss is not probable or cannot be reasonably estimated , a liability is not recorded in its consolidated financial statements. .
|
what is the expected growth rate in operating leases from 2020 to 2021?
|
0.7%
|
{
"answer": "0.7%",
"decimal": 0.006999999999999999,
"type": "percentage"
}
| |
distribution xpedx , our north american merchant distribution business , distributes products and services to a number of customer markets including : commercial printers with printing papers and graphic pre-press , printing presses and post-press equipment ; building services and away-from-home markets with facility supplies ; manufacturers with packaging supplies and equipment ; and to a growing number of customers , we exclusively provide distribution capabilities including warehousing and delivery services .xpedx is the leading wholesale distribution marketer in these customer and product segments in north america , operating 122 warehouse locations and 130 retail stores in the united states , mexico and cana- forest products international paper owns and manages approx- imately 200000 acres of forestlands and develop- ment properties in the united states , mostly in the south .our remaining forestlands are managed as a portfolio to optimize the economic value to our shareholders .most of our portfolio represents prop- erties that are likely to be sold to investors and other buyers for various purposes .specialty businesses and other chemicals : this business was sold in the first quarter of 2007 .ilim holding s.a .in october 2007 , international paper and ilim holding s.a .( ilim ) completed a 50:50 joint venture to operate a pulp and paper business located in russia .ilim 2019s facilities include three paper mills located in bratsk , ust-ilimsk , and koryazhma , russia , with combined total pulp and paper capacity of over 2.5 million tons .ilim has exclusive harvesting rights on timberland and forest areas exceeding 12.8 million acres ( 5.2 million hectares ) .products and brand designations appearing in italics are trademarks of international paper or a related company .industry segment results industrial packaging demand for industrial packaging products is closely correlated with non-durable industrial goods pro- duction , as well as with demand for processed foods , poultry , meat and agricultural products .in addition to prices and volumes , major factors affecting the profitability of industrial packaging are raw material and energy costs , freight costs , manufacturing effi- ciency and product mix .industrial packaging results for 2009 and 2008 include the cbpr business acquired in the 2008 third quarter .net sales for 2009 increased 16% ( 16 % ) to $ 8.9 billion compared with $ 7.7 billion in 2008 , and 69% ( 69 % ) compared with $ 5.2 billion in 2007 .operating profits were 95% ( 95 % ) higher in 2009 than in 2008 and more than double 2007 levels .benefits from higher total year-over-year shipments , including the impact of the cbpr business , ( $ 11 million ) , favorable operating costs ( $ 294 million ) , and lower raw material and freight costs ( $ 295 million ) were parti- ally offset by the effects of lower price realizations ( $ 243 million ) , higher corporate overhead allocations ( $ 85 million ) , incremental integration costs asso- ciated with the acquisition of the cbpr business ( $ 3 million ) and higher other costs ( $ 7 million ) .additionally , operating profits in 2009 included a gain of $ 849 million relating to alternative fuel mix- ture credits , u.s .plant closure costs of $ 653 million , and costs associated with the shutdown of the eti- enne mill in france of $ 87 million .industrial packaging in millions 2009 2008 2007 .
[['in millions', '2009', '2008', '2007'], ['sales', '$ 8890', '$ 7690', '$ 5245'], ['operating profit', '761', '390', '374']]
north american industrial packaging results include the net sales and operating profits of the cbpr business from the august 4 , 2008 acquis- ition date .net sales were $ 7.6 billion in 2009 com- pared with $ 6.2 billion in 2008 and $ 3.9 billion in 2007 .operating profits in 2009 were $ 791 million ( $ 682 million excluding alternative fuel mixture cred- its , mill closure costs and costs associated with the cbpr integration ) compared with $ 322 million ( $ 414 million excluding charges related to the write-up of cbpr inventory to fair value , cbpr integration costs and other facility closure costs ) in 2008 and $ 305 million in 2007 .excluding the effect of the cbpr acquisition , con- tainerboard and box shipments were lower in 2009 compared with 2008 reflecting weaker customer demand .average sales price realizations were sig- nificantly lower for both containerboard and boxes due to weaker world-wide economic conditions .however , average sales margins for boxes .
|
what is the value of operating expenses and other costs concerning the activities , in 2009?
|
8129
|
{
"answer": "8129",
"decimal": 8129,
"type": "float"
}
|
it is the value of sales ( operating income ) subtracted by the value of operating profit .
|
the pension plan investments are held in a master trust , with the northern trust company .investments in the master trust are valued at fair value , which has been determined based on fair value of the underlying investments of the master trust .investments in securities traded on public security exchanges are valued at their closing market prices on the valuation date ; where no sale was made on the valuation date , the security is generally valued at its most recent bid price .certain short-term investments are carried at cost , which approximates fair value .investments in registered investment companies and common trust funds , which primarily invest in stocks , bonds , and commodity futures , are valued using publicly available market prices for the underlying investments held by these entities .the majority of pension plan assets are invested in equity securities , because equity portfolios have historically provided higher returns than debt and other asset classes over extended time horizons , and are expected to do so in the future .correspondingly , equity investments also entail greater risks than other investments .equity risks are balanced by investing a significant portion of the plan 2019s assets in high quality debt securities .the average quality rating of the debt portfolio exceeded aa as of december 31 , 2008 and 2007 .the debt portfolio is also broadly diversified and invested primarily in u.s .treasury , mortgage , and corporate securities with an intermediate average maturity .the weighted-average maturity of the debt portfolio was 5 years at both december 31 , 2008 and 2007 , respectively .the investment of pension plan assets in securities issued by union pacific is specifically prohibited for both the equity and debt portfolios , other than through index fund holdings .other retirement programs thrift plan 2013 we provide a defined contribution plan ( thrift plan ) to eligible non-union employees and make matching contributions to the thrift plan .we match 50 cents for each dollar contributed by employees up to the first six percent of compensation contributed .our thrift plan contributions were $ 14 million in 2008 , $ 14 million in 2007 , and $ 13 million in 2006 .railroad retirement system 2013 all railroad employees are covered by the railroad retirement system ( the system ) .contributions made to the system are expensed as incurred and amounted to approximately $ 620 million in 2008 , $ 616 million in 2007 , and $ 615 million in 2006 .collective bargaining agreements 2013 under collective bargaining agreements , we provide certain postretirement healthcare and life insurance benefits for eligible union employees .premiums under the plans are expensed as incurred and amounted to $ 49 million in 2008 and $ 40 million in both 2007 and 5 .other income other income included the following for the years ended december 31 : millions of dollars 2008 2007 2006 .
[['millions of dollars', '2008', '2007', '2006'], ['rental income', '$ 87', '$ 68', '$ 83'], ['net gain on non-operating asset dispositions', '41', '52', '72'], ['interest income', '21', '50', '29'], ['sale of receivables fees', '-23 ( 23 )', '-35 ( 35 )', '-33 ( 33 )'], ['non-operating environmental costs and other', '-34 ( 34 )', '-19 ( 19 )', '-33 ( 33 )'], ['total', '$ 92', '$ 116', '$ 118']]
.
|
what was the percentage change in rental income from 2007 to 2008?
|
28%
|
{
"answer": "28%",
"decimal": 0.28,
"type": "percentage"
}
| |
remaining service period of active members expected to receive benefits under the plan or , in the case of closed plans , the expected future lifetime of the employees participating in the plan .for the years ended december 31 , 2018 and 2017 , the service cost component of net periodic benefit cost was classified in selling , general and administrative expenses , while the other components of net periodic benefit cost were classified in other income , net in our consolidated statements of income .for the year ended december 31 , 2016 , all components of net periodic benefit expense were included in selling , general , and administrative expenses in our consolidated statements of income .for the year ending december 31 , 2019 , we expect net periodic benefit costs to increase by approximately $ 2 million due to the fact that we will incur a full year of pension expense related to our stahlgruber business , compared to a partial year in 2018 .the table below summarizes the weighted-average assumptions used to calculate the net periodic benefit cost in the table above: .
[['', '2018', '2017', '2016'], ['discount rate used to determine service cost', '1.3% ( 1.3 % )', '1.5% ( 1.5 % )', '1.6% ( 1.6 % )'], ['discount rate used to determine interest cost', '2.5% ( 2.5 % )', '3.0% ( 3.0 % )', '3.0% ( 3.0 % )'], ['rate of future compensation increase', '1.9% ( 1.9 % )', '1.3% ( 1.3 % )', '2.0% ( 2.0 % )'], ['expected long-term return on plan assets ( 1 )', '4.8% ( 4.8 % )', '5.0% ( 5.0 % )', '5.1% ( 5.1 % )']]
expected long-term return on plan assets ( 1 ) 4.8% ( 4.8 % ) 5.0% ( 5.0 % ) 5.1% ( 5.1 % ) ( 1 ) our expected long-term return on plan assets is determined based on our asset allocation and estimate of future long- term returns by asset class .assumed mortality is also a key assumption in determining benefit obligations and net periodic benefit cost .in some of our european plans , a price inflation index is also an assumption in determining benefit obligations and net periodic benefit as of december 31 , 2018 , the pre-tax amounts recognized in accumulated other comprehensive income consisted of $ 10 million of net actuarial losses for our defined benefit plans that have not yet been recognized in net periodic benefit cost .of this amount , we expect $ 0.2 million to be recognized as a component of net periodic benefit cost during the year ending december 31 , 2019 .fair value of plan assets fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants .the tiers in the fair value hierarchy include : level 1 , defined as observable inputs such as quoted market prices in active markets ; level 2 , defined as inputs other than quoted prices in active markets that are either directly or indirectly observable ; and level 3 , defined as significant unobservable inputs in which little or no market data exists , therefore requiring an entity to develop its own assumptions .investments that are valued using net asset value ( "nav" ) ( or its equivalent ) as a practical expedient are excluded from the fair value hierarchy disclosure .the following is a description of the valuation methodologies used for assets reported at fair value .the methodologies used at december 31 , 2018 and december 31 , 2017 are the same .level 1 investments : cash and cash equivalents are valued based on cost , which approximates fair value .mutual funds are valued based on reported market prices on the last trading day of the fiscal year .level 3 investments : investments in insurance contracts represent the cash surrender value of the insurance policy .these are actuarially determined amounts based on projections of future benefit payments , discount rates , and expected long- term rate of return on assets. .
|
based on the review of the weighted-average assumptions used to calculate the net periodic benefit cost what was the ratio of the expected long-term return on plan assets ( 1 ) to the discount rate used to determine service cost in 2017
|
3.3
|
{
"answer": "3.3",
"decimal": 3.3,
"type": "float"
}
| |
liquidity and capital resources as of december 31 , 2006 , our principal sources of liquidity included cash , cash equivalents , the sale of receivables , and our revolving credit facilities , as well as the availability of commercial paper and other sources of financing through the capital markets .we had $ 2 billion of committed credit facilities available , of which there were no borrowings outstanding as of december 31 , 2006 , and we did not make any short-term borrowings under these facilities during the year .the value of the outstanding undivided interest held by investors under the sale of receivables program was $ 600 million as of december 31 , 2006 .the sale of receivables program is subject to certain requirements , including the maintenance of an investment grade bond rating .if our bond rating were to deteriorate , it could have an adverse impact on our liquidity .access to commercial paper is dependent on market conditions .deterioration of our operating results or financial condition due to internal or external factors could negatively impact our ability to utilize commercial paper as a source of liquidity .liquidity through the capital markets is also dependent on our financial stability .at both december 31 , 2006 and 2005 , we had a working capital deficit of approximately $ 1.1 billion .a working capital deficit is common in our industry and does not indicate a lack of liquidity .we maintain adequate resources to meet our daily cash requirements , and we have sufficient financial capacity to satisfy our current liabilities .financial condition cash flows millions of dollars 2006 2005 2004 .
[['cash flowsmillions of dollars', '2006', '2005', '2004'], ['cash provided by operating activities', '$ 2880', '$ 2595', '$ 2257'], ['cash used in investing activities', '-2042 ( 2042 )', '-2047 ( 2047 )', '-1732 ( 1732 )'], ['cash used in financing activities', '-784 ( 784 )', '-752 ( 752 )', '-75 ( 75 )'], ['net change in cash and cash equivalents', '$ 54', '$ -204 ( 204 )', '$ 450']]
cash provided by operating activities 2013 higher income in 2006 generated the increased cash provided by operating activities , which was partially offset by higher income tax payments , $ 150 million in voluntary pension contributions , higher material and supply inventories , and higher management incentive payments in 2006 .higher income , lower management incentive payments in 2005 ( executive bonuses , which would have been paid to individuals in 2005 , were not awarded based on company performance in 2004 and bonuses for the professional workforce that were paid out in 2005 were significantly reduced ) , and working capital performance generated higher cash from operating activities in 2005 .a voluntary pension contribution of $ 100 million in 2004 also augmented the positive year-over-year variance in 2005 as no pension contribution was made in 2005 .this improvement was partially offset by cash received in 2004 for income tax refunds .cash used in investing activities 2013 an insurance settlement for the 2005 january west coast storm and lower balances for work in process decreased the amount of cash used in investing activities in 2006 .higher capital investments and lower proceeds from asset sales partially offset this decrease .increased capital spending , partially offset by higher proceeds from asset sales , increased the amount of cash used in investing activities in 2005 compared to 2004 .cash used in financing activities 2013 the increase in cash used in financing activities primarily resulted from lower net proceeds from equity compensation plans ( $ 189 million in 2006 compared to $ 262 million in 2005 ) .the increase in 2005 results from debt issuances in 2004 and higher debt repayments in 2005 .we did not issue debt in 2005 versus $ 745 million of debt issuances in 2004 , and we repaid $ 699 million of debt in 2005 compared to $ 588 million in 2004 .the higher outflows in 2005 were partially offset by higher net proceeds from equity compensation plans ( $ 262 million in 2005 compared to $ 80 million in 2004 ) . .
|
what was the percentage change in cash provided by operating activities between 2005 and 2006?
|
11%
|
{
"answer": "11%",
"decimal": 0.11,
"type": "percentage"
}
| |
operating/performance statistics railroad performance measures reported to the aar , as well as other performance measures , are included in the table below : 2010 2009 2008 % ( % ) change 2010 v 2009 % ( % ) change 2009 v 2008 .
[['', '2010', '2009', '2008', '% ( % ) change 2010 v 2009', '% ( % ) change2009 v 2008'], ['average train speed ( miles per hour )', '26.2', '27.3', '23.5', '( 4 ) % ( % )', '16% ( 16 % )'], ['average terminal dwell time ( hours )', '25.4', '24.8', '24.9', '2% ( 2 % )', '-'], ['average rail car inventory ( thousands )', '274.4', '283.1', '300.7', '( 3 ) % ( % )', '( 6 ) % ( % )'], ['gross ton-miles ( billions )', '932.4', '846.5', '1020.4', '10% ( 10 % )', '( 17 ) % ( % )'], ['revenue ton-miles ( billions )', '520.4', '479.2', '562.6', '9% ( 9 % )', '( 15 ) % ( % )'], ['operating ratio', '70.6', '76.1', '77.4', '( 5.5 ) pt', '( 1.3 ) pt'], ['employees ( average )', '42884', '43531', '48242', '( 1 ) % ( % )', '( 10 ) % ( % )'], ['customer satisfaction index', '89', '88', '83', '1 pt', '5 pt']]
average train speed 2013 average train speed is calculated by dividing train miles by hours operated on our main lines between terminals .maintenance activities and weather disruptions , combined with higher volume levels , led to a 4% ( 4 % ) decrease in average train speed in 2010 compared to a record set in 2009 .overall , we continued operating a fluid and efficient network during the year .lower volume levels , ongoing network management initiatives , and productivity improvements contributed to a 16% ( 16 % ) improvement in average train speed in 2009 compared to 2008 .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 increased 2% ( 2 % ) in 2010 compared to 2009 , driven in part by our network plan to increase the length of numerous trains to improve overall efficiency , which resulted in higher terminal dwell time for some cars .average terminal dwell time improved slightly in 2009 compared to 2008 due to lower volume levels combined with initiatives to expedite delivering rail cars to our interchange partners and customers .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 .average rail car inventory decreased 3% ( 3 % ) in 2010 compared to 2009 , while we handled 13% ( 13 % ) increases in carloads during the period compared to 2009 .we maintained more freight cars off-line and retired a number of old freight cars , which drove the decreases .average rail car inventory decreased 6% ( 6 % ) in 2009 compared to 2008 driven by a 16% ( 16 % ) decrease in volume .in addition , as carloads decreased , we stored more freight cars off-line .gross and revenue ton-miles 2013 gross ton-miles are calculated by multiplying the weight of loaded and empty freight cars by the number of miles hauled .revenue ton-miles are calculated by multiplying the weight of freight by the number of tariff miles .gross and revenue-ton-miles increased 10% ( 10 % ) and 9% ( 9 % ) in 2010 compared to 2009 due to a 13% ( 13 % ) increase in carloads .commodity mix changes ( notably automotive shipments ) drove the variance in year-over-year growth between gross ton-miles , revenue ton-miles and carloads .gross and revenue ton-miles decreased 17% ( 17 % ) and 15% ( 15 % ) in 2009 compared to 2008 due to a 16% ( 16 % ) decrease in carloads .commodity mix changes ( notably automotive shipments , which were 30% ( 30 % ) lower in 2009 versus 2008 ) drove the difference in declines between gross ton-miles and revenue ton- miles .operating ratio 2013 operating ratio is defined as our operating expenses as a percentage of operating revenue .our operating ratio improved 5.5 points to 70.6% ( 70.6 % ) in 2010 and 1.3 points to 76.1% ( 76.1 % ) in 2009 .efficiently leveraging volume increases , core pricing gains , and productivity initiatives drove the improvement in 2010 and more than offset the impact of higher fuel prices during the year .core pricing gains , lower fuel prices , network management initiatives , and improved productivity drove the improvement in 2009 and more than offset the 16% ( 16 % ) volume decline .employees 2013 employee levels were down 1% ( 1 % ) in 2010 compared to 2009 despite a 13% ( 13 % ) increase in volume levels .we leveraged the additional volumes through network efficiencies and other productivity initiatives .in addition , we successfully managed the growth of our full-time-equivalent train and engine force levels at a rate less than half of our carload growth in 2010 .all other operating functions and .
|
what is the percentage increase from 2008 customer satisfaction index to the 2010 customer satisfaction index?
|
7.2%
|
{
"answer": "7.2%",
"decimal": 0.07200000000000001,
"type": "percentage"
}
| |
58 2018 ppg annual report and 10-k the crown group on october 2 , 2017 , ppg acquired the crown group ( 201ccrown 201d ) , a u.s.-based coatings application services business , which is reported as part of ppg's industrial coatings reportable segment .crown is one of the leading component and product finishers in north america .crown applies coatings to customers 2019 manufactured parts and assembled products at 11 u.s .sites .most of crown 2019s facilities , which also provide assembly , warehousing and sequencing services , are located at customer facilities or positioned near customer manufacturing sites .the company serves manufacturers in the automotive , agriculture , construction , heavy truck and alternative energy industries .the pro-forma impact on ppg's sales and results of operations , including the pro forma effect of events that are directly attributable to the acquisition , was not significant .the results of this business since the date of acquisition have been reported within the industrial coatings business within the industrial coatings reportable segment .taiwan chlorine industries taiwan chlorine industries ( 201ctci 201d ) was established in 1986 as a joint venture between ppg and china petrochemical development corporation ( 201ccpdc 201d ) to produce chlorine-based products in taiwan , at which time ppg owned 60 percent of the venture .in conjunction with the 2013 separation of its commodity chemicals business , ppg conveyed to axiall corporation ( "axiall" ) its 60% ( 60 % ) ownership interest in tci .under ppg 2019s agreement with cpdc , if certain post-closing conditions were not met following the three year anniversary of the separation , cpdc had the option to sell its 40% ( 40 % ) ownership interest in tci to axiall for $ 100 million .in turn , axiall had a right to designate ppg as its designee to purchase the 40% ( 40 % ) ownership interest of cpdc .in april 2016 , axiall announced that cpdc had decided to sell its ownership interest in tci to axiall .in june 2016 , axiall formally designated ppg to purchase the 40% ( 40 % ) ownership interest in tci .in august 2016 , westlake chemical corporation acquired axiall , which became a wholly-owned subsidiary of westlake .in april 2017 , ppg finalized its purchase of cpdc 2019s 40% ( 40 % ) ownership interest in tci .the difference between the acquisition date fair value and the purchase price of ppg 2019s 40% ( 40 % ) ownership interest in tci has been recorded as a loss in discontinued operations during the year-ended december 31 , 2017 .ppg 2019s ownership in tci is accounted for as an equity method investment and the related equity earnings are reported within other income in the consolidated statement of income and in legacy in note 20 , 201creportable business segment information . 201d metokote corporation in july 2016 , ppg completed the acquisition of metokote corporation ( "metokote" ) , a u.s.-based coatings application services business .metokote applies coatings to customers' manufactured parts and assembled products .it operates on- site coatings services within several customer manufacturing locations , as well as at regional service centers , located throughout the u.s. , canada , mexico , the united kingdom , germany , hungary and the czech republic .customers ship parts to metokote ae service centers where they are treated to enhance paint adhesion and painted with electrocoat , powder or liquid coatings technologies .coated parts are then shipped to the customer 2019s next stage of assembly .metokote coats an average of more than 1.5 million parts per day .the following table summarizes the estimated fair value of assets acquired and liabilities assumed as reflected in the final purchase price allocation for metokote .( $ in millions ) .
[['current assets', '$ 38'], ['property plant and equipment', '73'], ['identifiable intangible assets with finite lives', '86'], ['goodwill', '166'], ['deferred income taxes ( a )', '-12 ( 12 )'], ['total assets', '$ 351'], ['current liabilities', '-23 ( 23 )'], ['other long-term liabilities', '-22 ( 22 )'], ['total liabilities', '( $ 45 )'], ['total purchase price net of cash acquired', '$ 306']]
( a ) the net deferred income tax liability is included in assets due to the company's tax jurisdictional netting .the pro-forma impact on ppg's sales and results of operations , including the pro forma effect of events that are directly attributable to the acquisition , was not significant .while calculating this impact , no cost savings or operating synergies that may result from the acquisition were included .the results of this business since the date of acquisition have been reported within the industrial coatings business within the industrial coatings reportable segment .notes to the consolidated financial statements .
|
what percent of the total purchase price net of cash acquired was property plant and equipment?
|
24%
|
{
"answer": "24%",
"decimal": 0.24,
"type": "percentage"
}
| |
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 is the percentage of europemiddle east& africa's sites concerning all electrical/electronic architecture sites?
|
29.11%
|
{
"answer": "29.11%",
"decimal": 0.29109999999999997,
"type": "percentage"
}
|
it is the number of sites in europemiddle east& africa divided by the total sites of electrical/electronic architecture , then turned into a percentage .
|
input costs for board and resin are expected to be flat and operating costs are expected to decrease .european consumer packaging net sales in 2013 were $ 380 million compared with $ 380 million in 2012 and $ 375 million in 2011 .operating profits in 2013 were $ 100 million compared with $ 99 million in 2012 and $ 93 million in 2011 .sales volumes in 2013 decreased from 2012 in both the european and russian markets .average sales price realizations were significantly higher in the russian market , but were lower in europe .input costs were flat year-over-year .planned maintenance downtime costs were higher in 2013 than in 2012 .looking forward to the first quarter of 2014 , sales volumes compared with the fourth quarter of 2013 are expected to be about flat .average sales price realizations are expected to be higher in both russia and europe .input costs are expected to increase for wood and energy , but decrease for purchased pulp .there are no maintenance outages scheduled for the first quarter , however the kwidzyn mill will have additional costs associated with the rebuild of a coated board machine .asian consumer packaging net sales were $ 1.1 billion in 2013 compared with $ 830 million in 2012 and $ 855 million in 2011 .operating profits in 2013 were a loss of $ 2 million compared with gains of $ 4 million in 2012 and $ 35 million in 2011 .sales volumes increased in 2013 compared with 2012 , reflecting the ramp-up of a new coated paperboard machine installed in 2012 .however , average sales price realizations were significantly lower , reflecting competitive pressure on sales prices which squeezed margins and created an unfavorable product mix .lower input costs were offset by higher freight costs .in 2012 , start-up costs for the new coated paperboard machine adversely impacted operating profits .in the first quarter of 2014 , sales volumes are expected to increase slightly .average sales price realizations are expected to be flat reflecting continuing competitive pressures .input costs are expected be higher for pulp , energy and chemicals .the business will drive margin improvement through operational excellence and better distribution xpedx , our distribution business , is one of north america 2019s leading business-to-business distributors to manufacturers , facility managers and printers , providing customized solutions that are designed to improve efficiency , reduce costs and deliver results .customer demand is generally sensitive to changes in economic conditions and consumer behavior , along with segment specific activity including corporate advertising and promotional spending , government spending and domestic manufacturing activity .distribution 2019s margins are relatively stable across an economic cycle .providing customers with the best choice for value in both products and supply chain services is a key competitive factor .additionally , efficient customer service , cost-effective logistics and focused working capital management are key factors in this segment 2019s profitability .distribution .
[['in millions', '2013', '2012', '2011'], ['sales', '$ 5650', '$ 6040', '$ 6630'], ['operating profit', '-389 ( 389 )', '22', '34']]
distribution 2019s 2013 annual sales decreased 6% ( 6 % ) from 2012 , and decreased 15% ( 15 % ) from 2011 .operating profits in 2013 were a loss of $ 389 million ( a gain of $ 43 million excluding goodwill impairment charges and reorganization costs ) compared with $ 22 million ( $ 71 million excluding reorganization costs ) in 2012 and $ 34 million ( $ 86 million excluding reorganization costs ) in annual sales of printing papers and graphic arts supplies and equipment totaled $ 3.2 billion in 2013 compared with $ 3.5 billion in 2012 and $ 4.0 billion in 2011 reflecting declining demand and the discontinuation of a distribution agreement with a large manufacturer of graphic supplies .trade margins as a percent of sales for printing papers were down from both 2012 and 2011 .revenue from packaging products was flat at $ 1.6 billion in 2013 , 2012 and 2011 despite the significant decline of a large high-tech customer's business .packaging margins remained flat to the 2012 level , and up from 2011 .facility supplies annual revenue was $ 845 million in 2013 , down from $ 944 million in 2012 and $ 981 million in 2011 .operating profits in 2013 included a goodwill impairment charge of $ 400 million and reorganization costs for severance , professional services and asset write-downs of $ 32 million .operating profits in 2012 and 2011 included reorganization costs of $ 49 million and $ 52 million , respectively .looking ahead to the 2014 first quarter , operating profits will be seasonally lower , but will continue to reflect the benefits of strategic and other cost reduction initiatives. .
|
what was the distribution profit margin in 2011
|
0.51%
|
{
"answer": "0.51%",
"decimal": 0.0051,
"type": "percentage"
}
| |
table of contents .
[['assumptions used in monte carlo lattice pricing model', 'year ended december 31 , 2016', 'year ended december 31 , 2015', 'year ended december 31 , 2014'], ['risk-free interest rate', '1.0% ( 1.0 % )', '1.1% ( 1.1 % )', '0.7% ( 0.7 % )'], ['expected dividend yield', '2014% ( 2014 % )', '2014% ( 2014 % )', '2014% ( 2014 % )'], ['expected volatility 2014ansys stock price', '21% ( 21 % )', '23% ( 23 % )', '25% ( 25 % )'], ['expected volatility 2014nasdaq composite index', '16% ( 16 % )', '14% ( 14 % )', '15% ( 15 % )'], ['expected term', '2.8 years', '2.8 years', '2.8 years'], ['correlation factor', '0.65', '0.60', '0.70']]
the company issued 35000 , 115485 and 39900 performance-based restricted stock awards during 2016 , 2015 and 2014 , respectively .of the cumulative performance-based restricted stock awards issued , defined operating metrics were assigned to 63462 , 51795 and 20667 awards with grant-date fair values of $ 84.61 , $ 86.38 and $ 81.52 during 2016 , 2015 and 2014 , respectively .the grant-date fair value of the awards is being recorded from the grant date through the conclusion of the measurement period associated with each operating metric based on management's estimates concerning the probability of vesting .as of december 31 , 2016 , 7625 units of the total 2014 awards granted were earned and will be issued in 2017 .total compensation expense associated with the awards recorded for the years ended december 31 , 2016 , 2015 and 2014 was $ 0.4 million , $ 0.4 million and $ 0.1 million , respectively .in addition , in 2016 , 2015 and 2014 , the company granted restricted stock units of 488622 , 344500 and 364150 , respectively , that will vest over a three- or four-year period with weighted-average grant-date fair values of $ 88.51 , $ 86.34 and $ 82.13 , respectively .during 2016 and 2015 , 162019 and 85713 shares vested and were released , respectively .as of december 31 , 2016 , 2015 and 2014 , 838327 , 571462 and 344750 units were outstanding , respectively .total compensation expense is being recorded over the service period and was $ 19.1 million , $ 12.5 million and $ 5.8 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .in conjunction with a 2015 acquisition , ansys issued 68451 shares of replacement restricted stock with a weighted-average grant-date fair value of $ 90.48 .of the $ 6.2 million grant-date fair value , $ 3.5 million , related to partially vested awards , was recorded as non-cash purchase price consideration .the remaining fair value will be recognized as stock compensation expense through the conclusion of the service period .during the years ended december 31 , 2016 and 2015 , the company recorded $ 1.2 million and $ 0.6 million , respectively , of stock compensation expense related to these awards .in conjunction with a 2011 acquisition , the company granted performance-based restricted stock awards .vesting was determined based on the achievements of certain revenue and operating income targets of the entity post-acquisition .total compensation expense associated with the awards recorded for the year ended december 31 , 2014 was $ 4.7 million .the company has granted deferred stock awards to non-affiliate independent directors , which are rights to receive shares of common stock upon termination of service as a director .in 2015 and prior , the deferred stock awards were granted quarterly in arrears and vested immediately upon grant .associated with these awards , the company established a non-qualified 409 ( a ) deferred compensation plan with assets held under a rabbi trust to provide directors an opportunity to diversify their vested awards .during open trading windows and at their elective option , the directors may convert their company shares into a variety of non-company-stock investment options in order to diversify their holdings .as of december 31 , 2016 , 5000 shares have been diversified and 184099 undiversified deferred stock awards have vested with the underlying shares remaining unissued until the service termination of the respective director owners .in may 2016 , the company granted 38400 deferred stock awards which will vest in full on the one-year anniversary of the grant .total compensation expense associated with the awards recorded for the years ended december 31 , 2016 , 2015 and 2014 was $ 1.9 million , $ 4.0 million and $ 3.5 million , respectively. .
|
what was the value of the restricted stock that the company granted in 2016?
|
43247933.2
|
{
"answer": "43247933.2",
"decimal": 43247933.2,
"type": "float"
}
| |
expenses decreased to $ 23 million from $ 115 million in 2006 and $ 146 million in 2005 , reflecting the reduced level of operations .operating profits for the real estate division , which principally sells higher-and-better-use properties , were $ 32 million , $ 124 million and $ 198 million in 2007 , 2006 and 2005 , respectively .looking forward to 2008 , operating profits are expected to decline significantly , reflecting the reduced level of forestland holdings .operating earn- ings will primarily reflect the periodic sales of remaining acreage , and can be expected to vary from quarter to quarter depending on the timing of sale transactions .specialty businesses and other the specialty businesses and other segment princi- pally includes the operating results of the arizona chemical business as well as certain smaller busi- nesses .the arizona chemical business was sold in february 2007 .thus , operating results in 2007 reflect only two months of activity .specialty businesses and other in millions 2007 2006 2005 .
[['in millions', '2007', '2006', '2005'], ['sales', '$ 135', '$ 935', '$ 915'], ['operating profit', '$ 6', '$ 61', '$ 4']]
liquidity and capital resources overview a major factor in international paper 2019s liquidity and capital resource planning is its generation of operat- ing cash flow , which is highly sensitive to changes in the pricing and demand for our major products .while changes in key cash operating costs , such as energy , raw material and transportation costs , do have an effect on operating cash generation , we believe that our strong focus on cost controls has improved our cash flow generation over an operat- ing cycle .as part of our continuing focus on improving our return on investment , we have focused our capital spending on improving our key paper and packaging businesses both globally and in north america .financing activities in 2007 continued the focus on the transformation plan objectives of returning value to shareholders through additional repurchases of common stock and strengthening the balance sheet through further reductions of management believes it is important for interna- tional paper to maintain an investment-grade credit rating to facilitate access to capital markets on favorable terms .at december 31 , 2007 , the com- pany held long-term credit ratings of bbb ( stable outlook ) and baa3 ( stable outlook ) by standard & poor 2019s ( s&p ) and moody 2019s investor services ( moody 2019s ) , respectively .cash provided by operations cash provided by continuing operations totaled $ 1.9 billion , compared with $ 1.0 billion for 2006 and $ 1.2 billion for 2005 .the 2006 amount is net of a $ 1.0 bil- lion voluntary cash pension plan contribution made in the fourth quarter of 2006 .the major components of cash provided by continuing operations are earn- ings from continuing operations adjusted for non-cash income and expense items and changes in working capital .earnings from continuing oper- ations , adjusted for non-cash items and excluding the pension contribution in 2006 , increased by $ 123 million in 2007 versus 2006 .this compared with an increase of $ 584 million for 2006 over 2005 .international paper 2019s investments in accounts receiv- able and inventory less accounts payable and accrued liabilities , totaled $ 1.7 billion at december 31 , 2007 .cash used for these working capital components increased by $ 539 million in 2007 , compared with a $ 354 million increase in 2006 and a $ 558 million increase in 2005 .investment activities investment activities in 2007 included the receipt of $ 1.7 billion of additional cash proceeds from divest- itures , and the use of $ 239 million for acquisitions and $ 578 million for an investment in a 50% ( 50 % ) equity interest in ilim holding s.a .in russia .capital spending from continuing operations was $ 1.3 billion in 2007 , or 119% ( 119 % ) of depreciation and amortization , comparable to $ 1.0 billion , or 87% ( 87 % ) of depreciation and amortization in 2006 , and $ 992 mil- lion , or 78% ( 78 % ) of depreciation and amortization in 2005 .the increase in 2007 reflects spending for the con- version of the pensacola paper machine to the pro- duction of linerboard , a fluff pulp project at our riegelwood mill , and a specialty pulp production project at our svetogorsk mill in russia , all of which were part of the company 2019s transformation plan. .
|
what was the specialty business profit margin in 2006
|
6.52%
|
{
"answer": "6.52%",
"decimal": 0.0652,
"type": "percentage"
}
| |
amount of commitment expiration per period other commercial commitments after millions of dollars total 2010 2011 2012 2013 2014 2014 .
[['other commercial commitmentsmillions of dollars', 'total', 'amount of commitment expiration per period 2010', 'amount of commitment expiration per period 2011', 'amount of commitment expiration per period 2012', 'amount of commitment expiration per period 2013', 'amount of commitment expiration per period 2014', 'amount of commitment expiration per period after 2014'], ['credit facilities [a]', '$ 1900', '$ -', '$ -', '$ 1900', '$ -', '$ -', '$ -'], ['sale of receivables [b]', '600', '600', '-', '-', '-', '-', '-'], ['guarantees [c]', '416', '29', '76', '24', '8', '214', '65'], ['standby letters of credit [d]', '22', '22', '-', '-', '-', '-', '-'], ['total commercial commitments', '$ 2938', '$ 651', '$ 76', '$ 1924', '$ 8', '$ 214', '$ 65']]
[a] none of the credit facility was used as of december 31 , 2009 .[b] $ 400 million of the sale of receivables program was utilized at december 31 , 2009 .[c] includes guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations .[d] none of the letters of credit were drawn upon as of december 31 , 2009 .off-balance sheet arrangements sale of receivables 2013 the railroad transfers most of its accounts receivable to union pacific receivables , inc .( upri ) , a bankruptcy-remote subsidiary , as part of a sale of receivables facility .upri sells , without recourse on a 364-day revolving basis , an undivided interest in such accounts receivable to investors .the total capacity to sell undivided interests to investors under the facility was $ 600 million and $ 700 million at december 31 , 2009 and 2008 , respectively .the value of the outstanding undivided interest held by investors under the facility was $ 400 million and $ 584 million at december 31 , 2009 and 2008 , respectively .during 2009 , upri reduced the outstanding undivided interest held by investors due to a decrease in available receivables .the value of the undivided interest held by investors is not included in our consolidated financial statements .the value of the undivided interest held by investors was supported by $ 817 million and $ 1015 million of accounts receivable held by upri at december 31 , 2009 and 2008 , respectively .at december 31 , 2009 and 2008 , the value of the interest retained by upri was $ 417 million and $ 431 million , respectively .this retained interest is included in accounts receivable in our consolidated financial statements .the interest sold to investors is sold at carrying value , which approximates fair value , and there is no gain or loss recognized from the transaction .the value of the outstanding undivided interest held by investors could fluctuate based upon the availability of eligible receivables and is directly affected by changing business volumes and credit risks , including default and dilution .if default or dilution ratios increase one percent , the value of the outstanding undivided interest held by investors would not change as of december 31 , 2009 .should our credit rating fall below investment grade , the value of the outstanding undivided interest held by investors would be reduced , and , in certain cases , the investors would have the right to discontinue the facility .the railroad services the sold receivables ; however , the railroad does not recognize any servicing asset or liability , as the servicing fees adequately compensate us for these responsibilities .the railroad collected approximately $ 13.8 billion and $ 17.8 billion during the years ended december 31 , 2009 and 2008 , respectively .upri used certain of these proceeds to purchase new receivables under the facility .the costs of the sale of receivables program are included in other income and were $ 9 million , $ 23 million , and $ 35 million for 2009 , 2008 , and 2007 , respectively .the costs include interest , which will vary based on prevailing commercial paper rates , program fees paid to banks , commercial paper issuing costs , and fees for unused commitment availability .the decrease in the 2009 costs was primarily attributable to lower commercial paper rates and a decrease in the outstanding interest held by investors. .
|
what percentage of total commercial commitments are sale of receivables?
|
20%
|
{
"answer": "20%",
"decimal": 0.2,
"type": "percentage"
}
| |
the agreements that govern the indebtedness incurred or assumed in connection with the acquisition contain various covenants that impose restrictions on us and certain of our subsidiaries that may affect our ability to operate our businesses .the agreements that govern the indebtedness incurred or assumed in connection with the carefusion transaction contain various affirmative and negative covenants that may , subject to certain significant exceptions , restrict our ability and the ability of certain of our subsidiaries ( including carefusion ) to , among other things , have liens on their property , transact business with affiliates and/or merge or consolidate with any other person or sell or convey certain of our assets to any one person .in addition , some of the agreements that govern our indebtedness contain financial covenants that will require us to maintain certain financial ratios .our ability and the ability of our subsidiaries to comply with these provisions may be affected by events beyond our control .failure to comply with these covenants could result in an event of default , which , if not cured or waived , could accelerate our repayment obligations .item 1b .unresolved staff comments .item 2 .properties .bd 2019s executive offices are located in franklin lakes , new jersey .as of october 31 , 2016 , bd owned or leased 255 facilities throughout the world , comprising approximately 19796011 square feet of manufacturing , warehousing , administrative and research facilities .the u.s .facilities , including those in puerto rico , comprise approximately 7459856 square feet of owned and 2923257 square feet of leased space .the international facilities comprise approximately 7189652 square feet of owned and 2223245 square feet of leased space .sales offices and distribution centers included in the total square footage are also located throughout the world .operations in each of bd 2019s business segments are conducted at both u.s .and international locations .particularly in the international marketplace , facilities often serve more than one business segment and are used for multiple purposes , such as administrative/sales , manufacturing and/or warehousing/distribution .bd generally seeks to own its manufacturing facilities , although some are leased .the following table summarizes property information by business segment. .
[['sites', 'corporate', 'bd life sciences', 'bd medical', 'mixed ( a )', 'total'], ['leased', '11', '19', '75', '92', '195'], ['owned', '3', '15', '31', '121', '60'], ['total', '14', '34', '106', '103', '255'], ['square feet', '1425720', '4337963', '9891908', '4140420', '19796011']]
( a ) facilities used by more than one business segment .bd believes that its facilities are of good construction and in good physical condition , are suitable and adequate for the operations conducted at those facilities , and are , with minor exceptions , fully utilized and operating at normal capacity .the u.s .facilities are located in alabama , arizona , california , connecticut , florida , georgia , illinois , indiana , maryland , massachusetts , michigan , nebraska , new jersey , north carolina , ohio , oklahoma , south carolina , texas , utah , virginia , washington , d.c. , washington , wisconsin and puerto rico .the international facilities are as follows : - europe , middle east , africa , which includes facilities in austria , belgium , bosnia and herzegovina , the czech republic , denmark , england , finland , france , germany , ghana , hungary , ireland , italy , kenya , luxembourg , netherlands , norway , poland , portugal , russia , saudi arabia , south africa , spain , sweden , switzerland , turkey , the united arab emirates and zambia. .
|
what percentage of international facilities' square footage is from owned facilities?\\n
|
76.38%
|
{
"answer": "76.38%",
"decimal": 0.7637999999999999,
"type": "percentage"
}
| |
10-k altria ar release tuesday , february 27 , 2018 10:00pm andra design llc performance stock units : in january 2017 , altria group , inc .granted an aggregate of 187886 performance stock units to eligible employees .the payout of the performance stock units requires the achievement of certain performance measures , which were predetermined at the time of grant , over a three-year performance cycle .these performance measures consist of altria group , inc . 2019s adjusted diluted earnings per share ( 201ceps 201d ) compounded annual growth rate and altria group , inc . 2019s total shareholder return relative to a predetermined peer group .the performance stock units are also subject to forfeiture if certain employment conditions are not met .at december 31 , 2017 , altria group , inc .had 170755 performance stock units remaining , with a weighted-average grant date fair value of $ 70.39 per performance stock unit .the fair value of the performance stock units at the date of grant , net of estimated forfeitures , is amortized to expense over the performance period .altria group , inc .recorded pre-tax compensation expense related to performance stock units for the year ended december 31 , 2017 of $ 6 million .the unamortized compensation expense related to altria group , inc . 2019s performance stock units was $ 7 million at december 31 , 2017 .altria group , inc .did not grant any performance stock units during 2016 and 2015 .note 12 .earnings per share basic and diluted eps were calculated using the following: .
[['( in millions )', 'for the years ended december 31 , 2017', 'for the years ended december 31 , 2016', 'for the years ended december 31 , 2015'], ['net earnings attributable to altria group inc .', '$ 10222', '$ 14239', '$ 5241'], ['less : distributed and undistributed earnings attributable to share-based awards', '-14 ( 14 )', '-24 ( 24 )', '-10 ( 10 )'], ['earnings for basic and diluted eps', '$ 10208', '$ 14215', '$ 5231'], ['weighted-average shares for basic and diluted eps', '1921', '1952', '1961']]
net earnings attributable to altria group , inc .$ 10222 $ 14239 $ 5241 less : distributed and undistributed earnings attributable to share-based awards ( 14 ) ( 24 ) ( 10 ) earnings for basic and diluted eps $ 10208 $ 14215 $ 5231 weighted-average shares for basic and diluted eps 1921 1952 1961 .
|
what is the growth rate in net earnings attributable to altria group inc . in 2016?
|
171.7%
|
{
"answer": "171.7%",
"decimal": 1.7169999999999999,
"type": "percentage"
}
| |
advance auto parts , inc .and subsidiaries notes to the consolidated financial statements december 28 , 2013 , december 29 , 2012 and december 31 , 2011 ( in thousands , except per share data ) in july 2012 , the fasb issued asu no .2012-02 201cintangible-goodwill and other 2013 testing indefinite-lived intangible assets for impairment . 201d asu 2012-02 modifies the requirement to test intangible assets that are not subject to amortization based on events or changes in circumstances that might indicate that the asset is impaired now requiring the test only if it is more likely than not that the asset is impaired .furthermore , asu 2012-02 provides entities the option of performing a qualitative assessment to determine if it is more likely than not that the fair value of an intangible asset is less than the carrying amount as a basis for determining whether it is necessary to perform a quantitative impairment test .asu 2012-02 is effective for fiscal years beginning after september 15 , 2012 and early adoption is permitted .the adoption of asu 2012-02 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows .3 .inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at both december 28 , 2013 and december 29 , 2012 .under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2013 and prior years .the company recorded a reduction to cost of sales of $ 5572 and $ 24087 in fiscal 2013 and fiscal 2012 , respectively .the company 2019s overall costs to acquire inventory for the same or similar products have generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies .in fiscal 2011 , the company recorded an increase to cost of sales of $ 24708 due to an increase in supply chain costs and inflationary pressures affecting certain product categories .product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( 201cfifo 201d ) method .product cores are included as part of the company 2019s merchandise costs and are either passed on to the customer or returned to the vendor .because product cores are not subject to frequent cost changes like the company 2019s other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method .inventory overhead costs purchasing and warehousing costs included in inventory as of december 28 , 2013 and december 29 , 2012 , were $ 161519 and $ 134258 , respectively .inventory balance and inventory reserves inventory balances at the end of fiscal 2013 and 2012 were as follows : december 28 , december 29 .
[['', 'december 282013', 'december 292012'], ['inventories at fifo net', '$ 2424795', '$ 2182419'], ['adjustments to state inventories at lifo', '131762', '126190'], ['inventories at lifo net', '$ 2556557', '$ 2308609']]
inventory quantities are tracked through a perpetual inventory system .the company completes physical inventories and other targeted inventory counts in its store locations to ensure the accuracy of the perpetual inventory quantities of both merchandise and core inventory in these locations .in its distribution centers and pdq aes , the company uses a cycle counting program to ensure the accuracy of the perpetual inventory quantities of both merchandise and product core inventory .reserves for estimated shrink are established based on the results of physical inventories conducted by the company with the assistance of an independent third party in substantially all of the company 2019s stores over the course of the year , other targeted inventory counts in its stores , results from recent cycle counts in its distribution facilities and historical and current loss trends. .
|
what was the total reduction to cost of sales from 2011 to 2013?
|
the total reduction to cost of sales would be $ 4951
|
{
"answer": "the total reduction to cost of sales would be $ 4951",
"decimal": 4951,
"type": "money"
}
|
to find the reduction to cost of sales one must add the total reduction to cost of sales for the 3 years and then subtract the increase in cost of sales for the 3 year period .
|
bhge 2018 form 10-k | 41 estimate would equal up to 5% ( 5 % ) of annual revenue .the expenditures are expected to be used primarily for normal , recurring items necessary to support our business .we also anticipate making income tax payments in the range of $ 425 million to $ 475 million in 2019 .contractual obligations in the table below , we set forth our contractual obligations as of december 31 , 2018 .certain amounts included in this table are based on our estimates and assumptions about these obligations , including their duration , anticipated actions by third parties and other factors .the contractual obligations we will actually pay in future periods may vary from those reflected in the table because the estimates and assumptions are subjective. .
[['( in millions )', '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 more than5 years'], ['total debt and capital lease obligations ( 1 )', '$ 6989', '$ 942', '$ 562', '$ 1272', '$ 4213'], ['estimated interest payments ( 2 )', '3716', '239', '473', '404', '2600'], ['operating leases ( 3 )', '846', '186', '262', '132', '266'], ['purchase obligations ( 4 )', '1507', '1388', '86', '25', '8'], ['total', '$ 13058', '$ 2755', '$ 1383', '$ 1833', '$ 7087']]
( 1 ) amounts represent the expected cash payments for the principal amounts related to our debt , including capital lease obligations .amounts for debt do not include any deferred issuance costs or unamortized discounts or premiums including step up in the value of the debt on the acquisition of baker hughes .expected cash payments for interest are excluded from these amounts .total debt and capital lease obligations includes $ 896 million payable to ge and its affiliates .as there is no fixed payment schedule on the amount payable to ge and its affiliates we have classified it as payable in less than one year .( 2 ) amounts represent the expected cash payments for interest on our long-term debt and capital lease obligations .( 3 ) amounts represent the future minimum payments under noncancelable operating leases with initial or remaining terms of one year or more .we enter into operating leases , some of which include renewal options , however , we have excluded renewal options from the table above unless it is anticipated that we will exercise such renewals .( 4 ) purchase obligations include expenditures for capital assets for 2019 as well as agreements to purchase goods or services that are enforceable and legally binding and that specify all significant terms , including : fixed or minimum quantities to be purchased ; fixed , minimum or variable price provisions ; and the approximate timing of the transaction .due to the uncertainty with respect to the timing of potential future cash outflows associated with our uncertain tax positions , we are unable to make reasonable estimates of the period of cash settlement , if any , to the respective taxing authorities .therefore , $ 597 million in uncertain tax positions , including interest and penalties , have been excluded from the contractual obligations table above .see "note 12 .income taxes" of the notes to consolidated and combined financial statements in item 8 herein for further information .we have certain defined benefit pension and other post-retirement benefit plans covering certain of our u.s .and international employees .during 2018 , we made contributions and paid direct benefits of approximately $ 72 million in connection with those plans , and we anticipate funding approximately $ 41 million during 2019 .amounts for pension funding obligations are based on assumptions that are subject to change , therefore , we are currently not able to reasonably estimate our contribution figures after 2019 .see "note 11 .employee benefit plans" of the notes to consolidated and combined financial statements in item 8 herein for further information .off-balance sheet arrangements in the normal course of business with customers , vendors and others , we have entered into off-balance sheet arrangements , such as surety bonds for performance , letters of credit and other bank issued guarantees , which totaled approximately $ 3.6 billion at december 31 , 2018 .it is not practicable to estimate the fair value of these financial instruments .none of the off-balance sheet arrangements either has , or is likely to have , a material effect on our consolidated and combined financial statements. .
|
what portion of total contractual obligations is expected to be paid as interest payments?
|
28.5%
|
{
"answer": "28.5%",
"decimal": 0.285,
"type": "percentage"
}
| |
debt maturities 2013 the following table presents aggregate debt maturities as of december 31 , 2008 , excluding market value adjustments .millions of dollars .
[['2009', '$ 720'], ['2010', '465'], ['2011', '555'], ['2012', '746'], ['2013', '713'], ['thereafter', '5728'], ['total debt', '$ 8927']]
as of december 31 , 2008 , we have reclassified as long-term debt approximately $ 400 million of debt due within one year that we intend to refinance .this reclassification reflects our ability and intent to refinance any short-term borrowings and certain current maturities of long-term debt on a long-term basis .at december 31 , 2007 , we reclassified as long-term debt approximately $ 550 million of debt due within one year that we intended to refinance at that time .mortgaged properties 2013 equipment with a carrying value of approximately $ 2.7 billion and $ 2.8 billion at december 31 , 2008 and 2007 , respectively , serves as collateral for capital leases and other types of equipment obligations in accordance with the secured financing arrangements utilized to acquire such railroad equipment .as a result of the merger of missouri pacific railroad company ( mprr ) with and into uprr on january 1 , 1997 , and pursuant to the underlying indentures for the mprr mortgage bonds , uprr must maintain the same value of assets after the merger in order to comply with the security requirements of the mortgage bonds .as of the merger date , the value of the mprr assets that secured the mortgage bonds was approximately $ 6.0 billion .in accordance with the terms of the indentures , this collateral value must be maintained during the entire term of the mortgage bonds irrespective of the outstanding balance of such bonds .credit facilities 2013 on december 31 , 2008 , we had $ 1.9 billion of credit available under our revolving credit facility ( the facility ) .the facility is designated for general corporate purposes and supports the issuance of commercial paper .we did not draw on the facility during 2008 .commitment fees and interest rates payable under the facility are similar to fees and rates available to comparably rated , investment- grade borrowers .the facility allows borrowings at floating rates based on london interbank offered rates , plus a spread , depending upon our senior unsecured debt ratings .the facility requires union pacific corporation to maintain a debt-to-net-worth coverage ratio as a condition to making a borrowing .at december 31 , 2008 , and december 31 , 2007 ( and at all times during these periods ) , we were in compliance with this covenant .the definition of debt used for purposes of calculating the debt-to-net-worth coverage ratio includes , among other things , certain credit arrangements , capital leases , guarantees and unfunded and vested pension benefits under title iv of erisa .at december 31 , 2008 , the debt-to-net-worth coverage ratio allowed us to carry up to $ 30.9 billion of debt ( as defined in the facility ) , and we had $ 9.9 billion of debt ( as defined in the facility ) outstanding at that date .under our current capital plans , we expect to continue to satisfy the debt-to-net-worth coverage ratio ; however , many factors beyond our reasonable control ( including the risk factors in item 1a of this report ) could affect our ability to comply with this provision in the future .the facility does not include any other financial restrictions , credit rating triggers ( other than rating-dependent pricing ) , or any other provision that could require us to post collateral .the .
|
what percentage of total aggregate debt maturities as of december 31 , 2008 are due in 20111?
|
6%
|
{
"answer": "6%",
"decimal": 0.06,
"type": "percentage"
}
| |
long-term product offerings include active and index strategies .our active strategies seek to earn attractive returns in excess of a market benchmark or performance hurdle while maintaining an appropriate risk profile .we offer two types of active strategies : those that rely primarily on fundamental research and those that utilize primarily quantitative models to drive portfolio construction .in contrast , index strategies seek to closely track the returns of a corresponding index , generally by investing in substantially the same underlying securities within the index or in a subset of those securities selected to approximate a similar risk and return profile of the index .index strategies include both our non-etf index products and ishares etfs .althoughmany clients use both active and index strategies , the application of these strategies may differ .for example , clients may use index products to gain exposure to a market or asset class .in addition , institutional non-etf index assignments tend to be very large ( multi-billion dollars ) and typically reflect low fee rates .this has the potential to exaggerate the significance of net flows in institutional index products on blackrock 2019s revenues and earnings .equity year-end 2015 equity aum totaled $ 2.424 trillion , reflecting net inflows of $ 52.8 billion .net inflows included $ 78.4 billion and $ 4.2 billion into ishares and active products , respectively .ishares net inflows were driven by the core series and flows into broad developed market equity exposures , and active net inflows reflected demand for international equities .ishares and active net inflows were partially offset by non-etf index net outflows of $ 29.8 billion .blackrock 2019s effective fee rates fluctuate due to changes in aummix .approximately half of blackrock 2019s equity aum is tied to international markets , including emerging markets , which tend to have higher fee rates than u.s .equity strategies .accordingly , fluctuations in international equity markets , which do not consistently move in tandemwith u.s .markets , may have a greater impact on blackrock 2019s effective equity fee rates and revenues .fixed income fixed income aum ended 2015 at $ 1.422 trillion , increasing $ 28.7 billion , or 2% ( 2 % ) , from december 31 , 2014 .the increase in aum reflected $ 76.9 billion in net inflows , partially offset by $ 48.2 billion in net market depreciation and foreign exchange movements .in 2015 , active net inflows of $ 35.9 billion were diversified across fixed income offerings , with strong flows into our unconstrained , total return and high yield strategies .flagship funds in these product areas include our unconstrained strategic income opportunities and fixed income strategies funds , with net inflows of $ 7.0 billion and $ 3.7 billion , respectively ; our total return fund with net inflows of $ 2.7 billion ; and our high yield bond fund with net inflows of $ 3.5 billion .fixed income ishares net inflows of $ 50.3 billion were led by flows into core , corporate and high yield bond funds .active and ishares net inflows were partially offset by non-etf index net outflows of $ 9.3 billion .multi-asset class blackrock 2019s multi-asset class teammanages a variety of balanced funds and bespoke mandates for a diversified client base that leverages our broad investment expertise in global equities , bonds , currencies and commodities , and our extensive risk management capabilities .investment solutions might include a combination of long-only portfolios and alternative investments as well as tactical asset allocation overlays .component changes in multi-asset class aum for 2015 are presented below .( in millions ) december 31 , 2014 net inflows ( outflows ) acquisition ( 1 ) market change fx impact december 31 , 2015 asset allocation and balanced $ 183032 $ 12926 $ 2014 $ ( 6731 ) $ ( 3391 ) $ 185836 .
[['( in millions )', 'december 312014', 'net inflows ( outflows )', 'acquisition ( 1 )', 'market change', 'fx impact', 'december 312015'], ['asset allocation and balanced', '$ 183032', '$ 12926', '$ 2014', '$ -6731 ( 6731 )', '$ -3391 ( 3391 )', '$ 185836'], ['target date/risk', '128611', '218', '2014', '-1308 ( 1308 )', '-1857 ( 1857 )', '125664'], ['fiduciary', '66194', '3985', '2014', '627', '-6373 ( 6373 )', '64433'], ['futureadvisor', '2014', '38', '366', '-1 ( 1 )', '2014', '403'], ['multi-asset', '$ 377837', '$ 17167', '$ 366', '$ -7413 ( 7413 )', '$ -11621 ( 11621 )', '$ 376336']]
( 1 ) amounts represent $ 366 million of aum acquired in the futureadvisor acquisition in october 2015 .the futureadvisor acquisition amount does not include aum that was held in ishares holdings .multi-asset class net inflows reflected ongoing institutional demand for our solutions-based advice with $ 17.4 billion of net inflows coming from institutional clients .defined contribution plans of institutional clients remained a significant driver of flows , and contributed $ 7.3 billion to institutional multi-asset class net new business in 2015 , primarily into target date and target risk product offerings .retail net outflows of $ 1.3 billion were primarily due to a large single-client transition out of mutual funds into a series of ishares across asset classes .notwithstanding this transition , retail flows reflected demand for our multi-asset income fund family , which raised $ 4.6 billion in 2015 .the company 2019s multi-asset class strategies include the following : 2022 asset allocation and balanced products represented 49% ( 49 % ) of multi-asset class aum at year-end , with growth in aum driven by net new business of $ 12.9 billion .these strategies combine equity , fixed income and alternative components for investors seeking a tailored solution relative to a specific benchmark and within a risk budget .in certain cases , these strategies seek to minimize downside risk through diversification , derivatives strategies and tactical asset allocation decisions .flagship products in this category include our global allocation andmulti-asset income suites. .
|
what is the growth rate in the balance of asset allocation from 2014 to 2015?
|
1.5%
|
{
"answer": "1.5%",
"decimal": 0.015,
"type": "percentage"
}
| |
wood products sales in the united states in 2005 of $ 1.6 billion were up 3% ( 3 % ) from $ 1.5 billion in 2004 and 18% ( 18 % ) from $ 1.3 billion in 2003 .average price realiza- tions for lumber were up 6% ( 6 % ) and 21% ( 21 % ) in 2005 compared with 2004 and 2003 , respectively .lumber sales volumes in 2005 were up 5% ( 5 % ) versus 2004 and 10% ( 10 % ) versus 2003 .average sales prices for plywood were down 4% ( 4 % ) from 2004 , but were 15% ( 15 % ) higher than in 2003 .plywood sales volumes in 2005 were slightly higher than 2004 and 2003 .operating profits in 2005 were 18% ( 18 % ) lower than 2004 , but nearly three times higher than 2003 .lower average plywood prices and higher raw material costs more than offset the effects of higher average lumber prices , volume increases and a positive sales mix .in 2005 , log costs were up 9% ( 9 % ) versus 2004 , negatively im- pacting both plywood and lumber profits .lumber and plywood operating costs also reflected substantially higher glue and natural gas costs versus both 2004 and looking forward to the first quarter of 2006 , a con- tinued strong housing market , combined with low prod- uct inventory in the distribution chain , should translate into continued strong lumber and plywood demand .however , a possible softening of housing starts and higher interest rates later in the year could put down- ward pressure on pricing in the second half of 2006 .specialty businesses and other the specialty businesses and other segment in- cludes the operating results of arizona chemical , euro- pean distribution and , prior to its closure in 2003 , our natchez , mississippi chemical cellulose pulp mill .also included are certain divested businesses whose results are included in this segment for periods prior to their sale or closure .this segment 2019s 2005 net sales declined 18% ( 18 % ) and 26% ( 26 % ) from 2004 and 2003 , respectively .operating profits in 2005 were down substantially from both 2004 and 2003 .the decline in sales principally reflects declining contributions from businesses sold or closed .operating profits were also affected by higher energy and raw material costs in our chemical business .specialty businesses and other in millions 2005 2004 2003 .
[['in millions', '2005', '2004', '2003'], ['sales', '$ 915', '$ 1120', '$ 1235'], ['operating profit', '$ 4', '$ 38', '$ 23']]
chemicals sales were $ 692 million in 2005 , com- pared with $ 672 million in 2004 and $ 625 million in 2003 .although demand was strong for most arizona chemical product lines , operating profits in 2005 were 84% ( 84 % ) and 83% ( 83 % ) lower than in 2004 and 2003 , re- spectively , due to higher energy costs in the u.s. , and higher prices and reduced availability for crude tall oil ( cto ) .in the united states , energy costs increased 41% ( 41 % ) compared to 2004 due to higher natural gas prices and supply interruption costs .cto prices increased 26% ( 26 % ) compared to 2004 , as certain energy users turned to cto as a substitute fuel for high-cost alternative energy sources such as natural gas and fuel oil .european cto receipts decreased 30% ( 30 % ) compared to 2004 due to lower yields following the finnish paper industry strike and a swedish storm that limited cto throughput and corre- sponding sales volumes .other businesses in this operating segment include operations that have been sold , closed , or are held for sale , principally the european distribution business , the oil and gas and mineral royalty business , decorative products , retail packaging , and the natchez chemical cellulose pulp mill .sales for these businesses were ap- proximately $ 223 million in 2005 ( mainly european distribution and decorative products ) compared with $ 448 million in 2004 ( mainly european distribution and decorative products ) , and $ 610 million in 2003 .liquidity and capital resources overview a major factor in international paper 2019s liquidity and capital resource planning is its generation of operat- ing cash flow , which is highly sensitive to changes in the pricing and demand for our major products .while changes in key cash operating costs , such as energy and raw material costs , do have an effect on operating cash generation , we believe that our strong focus on cost controls has improved our cash flow generation over an operating cycle .as a result , we believe that we are well positioned for improvements in operating cash flow should prices and worldwide economic conditions im- prove in the future .as part of our continuing focus on improving our return on investment , we have focused our capital spending on improving our key platform businesses in north america and in geographic areas with strong growth opportunities .spending levels have been kept below the level of depreciation and amortization charges for each of the last three years , and we anticipate con- tinuing this approach in 2006 .with the low interest rate environment in 2005 , financing activities have focused largely on the repay- ment or refinancing of higher coupon debt , resulting in a net reduction in debt of approximately $ 1.7 billion in 2005 .we plan to continue this program , with addi- tional reductions anticipated as our previously an- nounced transformation plan progresses in 2006 .our liquidity position continues to be strong , with approx- imately $ 3.2 billion of committed liquidity to cover fu- ture short-term cash flow requirements not met by operating cash flows. .
|
what was the ratio total amount of proceeds from the sales of business entities for european distribution and decorative products in 2004 to 2003
|
0.73
|
{
"answer": "0.73",
"decimal": 0.73,
"type": "float"
}
| |
although many clients use both active and passive strategies , the application of these strategies differs greatly .for example , clients may use index products to gain exposure to a market or asset class pending reallocation to an active manager .this has the effect of increasing turnover of index aum .in addition , institutional non-etp index assignments tend to be very large ( multi- billion dollars ) and typically reflect low fee rates .this has the potential to exaggerate the significance of net flows in institutional index products on blackrock 2019s revenues and earnings .equity year-end 2012 equity aum of $ 1.845 trillion increased by $ 285.4 billion , or 18% ( 18 % ) , from the end of 2011 , largely due to flows into regional , country-specific and global mandates and the effect of higher market valuations .equity aum growth included $ 54.0 billion in net new business and $ 3.6 billion in new assets related to the acquisition of claymore .net new business of $ 54.0 billion was driven by net inflows of $ 53.0 billion and $ 19.1 billion into ishares and non-etp index accounts , respectively .passive inflows were offset by active net outflows of $ 18.1 billion , with net outflows of $ 10.0 billion and $ 8.1 billion from fundamental and scientific active equity products , respectively .passive strategies represented 84% ( 84 % ) of equity aum with the remaining 16% ( 16 % ) in active mandates .institutional investors represented 62% ( 62 % ) of equity aum , while ishares , and retail and hnw represented 29% ( 29 % ) and 9% ( 9 % ) , respectively .at year-end 2012 , 63% ( 63 % ) of equity aum was managed for clients in the americas ( defined as the united states , caribbean , canada , latin america and iberia ) compared with 28% ( 28 % ) and 9% ( 9 % ) managed for clients in emea and asia-pacific , respectively .blackrock 2019s effective fee rates fluctuate due to changes in aum mix .approximately half of blackrock 2019s equity aum is tied to international markets , including emerging markets , which tend to have higher fee rates than similar u.s .equity strategies .accordingly , fluctuations in international equity markets , which do not consistently move in tandem with u.s .markets , may have a greater impact on blackrock 2019s effective equity fee rates and revenues .fixed income fixed income aum ended 2012 at $ 1.259 trillion , rising $ 11.6 billion , or 1% ( 1 % ) , relative to december 31 , 2011 .growth in aum reflected $ 43.3 billion in net new business , excluding the two large previously mentioned low-fee outflows , $ 75.4 billion in market and foreign exchange gains and $ 3.0 billion in new assets related to claymore .net new business was led by flows into domestic specialty and global bond mandates , with net inflows of $ 28.8 billion , $ 13.6 billion and $ 3.1 billion into ishares , non-etp index and model-based products , respectively , partially offset by net outflows of $ 2.2 billion from fundamental strategies .fixed income aum was split between passive and active strategies with 48% ( 48 % ) and 52% ( 52 % ) , respectively .institutional investors represented 74% ( 74 % ) of fixed income aum while ishares and retail and hnw represented 15% ( 15 % ) and 11% ( 11 % ) , respectively .at year-end 2012 , 59% ( 59 % ) of fixed income aum was managed for clients in the americas compared with 33% ( 33 % ) and 8% ( 8 % ) managed for clients in emea and asia- pacific , respectively .multi-asset class component changes in multi-asset class aum ( dollar amounts in millions ) 12/31/2011 net new business acquired market /fx app ( dep ) 12/31/2012 .
[['( dollar amounts in millions )', '12/31/2011', 'net new business', 'net acquired', 'market /fx app ( dep )', '12/31/2012'], ['asset allocation', '$ 126067', '$ 1575', '$ 78', '$ 12440', '$ 140160'], ['target date/risk', '49063', '14526', '2014', '6295', '69884'], ['fiduciary', '50040', '-284 ( 284 )', '2014', '7948', '57704'], ['multi-asset', '$ 225170', '$ 15817', '$ 78', '$ 26683', '$ 267748']]
multi-asset class aum totaled $ 267.7 billion at year-end 2012 , up 19% ( 19 % ) , or $ 42.6 billion , reflecting $ 15.8 billion in net new business and $ 26.7 billion in portfolio valuation gains .blackrock 2019s multi-asset class team manages a variety of bespoke mandates for a diversified client base that leverages our broad investment expertise in global equities , currencies , bonds and commodities , and our extensive risk management capabilities .investment solutions might include a combination of long-only portfolios and alternative investments as well as tactical asset allocation overlays .at december 31 , 2012 , institutional investors represented 66% ( 66 % ) of multi-asset class aum , while retail and hnw accounted for the remaining aum .additionally , 58% ( 58 % ) of multi-asset class aum is managed for clients based in the americas with 37% ( 37 % ) and 5% ( 5 % ) managed for clients in emea and asia-pacific , respectively .flows reflected ongoing institutional demand for our advice in an increasingly .
|
what portion of the total multi-assets is related to asset allocation as of december 31 , 2011?
|
56.0%
|
{
"answer": "56.0%",
"decimal": 0.56,
"type": "percentage"
}
| |
included in other non-current liabilities , because the company believes that the ultimate payment or settlement of these liabilities will not occur within the next twelve months .prior to the adoption of these provisions , these amounts were included in current income tax payable .the company includes interest and penalties related to unrecognized tax benefits within the provision for taxes in the condensed consolidated statements of income , and as a result , no change in classification was made upon adopting these provisions .the condensed consolidated statements of income for fiscal year 2009 and fiscal year 2008 include $ 1.7 million and $ 1.3 million , respectively , of interest and penalties related to these uncertain tax positions .due to the complexity associated with its tax uncertainties , the company cannot make a reasonably reliable estimate as to the period in which it expects to settle the liabilities associated with these uncertain tax positions .the following table summarizes the changes in the total amounts of uncertain tax positions for fiscal 2008 and fiscal 2009. .
[['balance november 3 2007', '$ 9889'], ['additions for tax positions of current year', '3861'], ['balance november 1 2008', '13750'], ['additions for tax positions of current year', '4411'], ['balance october 31 2009', '$ 18161']]
fiscal year 2004 and 2005 irs examination during the fourth quarter of fiscal 2007 , the irs completed its field examination of the company 2019s fiscal years 2004 and 2005 .on january 2 , 2008 , the irs issued its report for fiscal 2004 and 2005 , which included proposed adjustments related to these two fiscal years .the company has recorded taxes and penalties related to certain of these proposed adjustments .there are four items with an additional potential total tax liability of $ 46 million .the company has concluded , based on discussions with its tax advisors , that these four items are not likely to result in any additional tax liability .therefore , the company has not recorded any additional tax liability for these items and is appealing these proposed adjustments through the normal processes for the resolution of differences between the irs and taxpayers .the company 2019s initial meetings with the appellate division of the irs were held during fiscal year 2009 .two of the unresolved matters are one-time issues and pertain to section 965 of the internal revenue code related to the beneficial tax treatment of dividends from foreign owned companies under the american jobs creation act .the other matters pertain to the computation of research and development ( r&d ) tax credits and the profits earned from manufacturing activities carried on outside the united states .these latter two matters could impact taxes payable for fiscal 2004 and 2005 as well as for subsequent years .fiscal year 2006 and 2007 irs examination during the third quarter of fiscal 2009 , the irs completed its field examination of the company 2019s fiscal years 2006 and 2007 .the irs and the company have agreed on the treatment of a number of issues that have been included in an issue resolutions agreement related to the 2006 and 2007 tax returns .however , no agreement was reached on the tax treatment of a number of issues , including the same r&d credit and foreign manufacturing issues mentioned above related to fiscal 2004 and 2005 , the pricing of intercompany sales ( transfer pricing ) , and the deductibility of certain stock option compensation expenses .during the third quarter of fiscal 2009 , the irs issued its report for fiscal 2006 and fiscal 2007 , which included proposed adjustments related to these two fiscal years .the company has recorded taxes and penalties related to certain of these proposed adjustments .there are four items with an additional potential total tax liability of $ 195 million .the company concluded , based on discussions with its tax advisors , that these four items are not likely to result in any additional tax liability .therefore , the company has not recorded any additional tax liability for these items and is appealing these proposed adjustments through the normal processes for the resolution of differences between the irs and taxpayers .with the exception of the analog devices , inc .notes to consolidated financial statements 2014 ( continued ) .
|
what percentage did the balance increase from 2007 to 2009?
|
83.6%
|
{
"answer": "83.6%",
"decimal": 0.836,
"type": "percentage"
}
|
to find the percentage increase one must subtract the two year's balances and then divide the answer by the balance for 2007 .
|
management 2019s discussion and analysis action antitrust legal settlement .net income for 2005 and 2004 included an aftertax charge of $ 13 million , or 8 cents a share , and $ 19 million , or 11 cents a share , respectively , to reflect the net increase in the current value of the company 2019s obligation under the ppg settlement arrangement relating to asbestos claims .results of business segments net sales operating income ( millions ) 2005 2004 2005 2004 .
[['( millions )', 'net sales 2005', 'net sales 2004', 'net sales 2005', '2004'], ['coatings', '$ 5566', '$ 5275', '$ 609', '$ 777'], ['glass', '2237', '2204', '56', '169'], ['chemicals', '2398', '2034', '451', '291']]
coatings sales increased $ 291 million or 5% ( 5 % ) in 2005 .sales increased 3% ( 3 % ) due to higher selling prices across all businesses except automotive ; 1% ( 1 % ) due to improved volumes as increases in our aerospace , architectural and original equipment automotive businesses offset volume declines in automotive refinish and industrial coatings ; and 1% ( 1 % ) due to the positive effects of foreign currency translation .operating income decreased $ 168 million in 2005 .the adverse impact of inflation totaled $ 315 million , of which $ 245 million was attributable to higher raw material costs .higher year-over-year selling prices increased operating earnings by $ 169 million .coatings operating earnings were reduced by the $ 132 million charge for the cost of the marvin legal settlement net of insurance recoveries .other factors increasing coatings operating income in 2005 were the increased sales volumes described above , manufacturing efficiencies , formula cost reductions and higher other income .glass sales increased $ 33 million or 1% ( 1 % ) in 2005 .sales increased 1% ( 1 % ) due to improved volumes as increases in our automotive replacement glass , insurance and services and performance glazings ( flat glass ) businesses offset volume declines in our fiber glass and automotive original equipment glass businesses .the positive effects of foreign currency translation were largely offset by lower selling prices primarily in our automotive replacement glass and automotive original equipment businesses .operating income decreased $ 113 million in 2005 .the federal glass class action antitrust legal settlement of $ 61 million , the $ 49 million impact of rising natural gas costs and the absence of the $ 19 million gain in 2004 from the sale/ leaseback of precious metal combined to account for a reduction in operating earnings of $ 129 million .the remaining year-over-year increase in glass operating earnings of $ 16 million resulted primarily from improved manufacturing efficiencies and lower overhead costs exceeding the adverse impact of other inflation .our continuing efforts in 2005 to position the fiber glass business for future growth in profitability were adversely impacted by the rise in fourth quarter natural gas prices , slightly lower year-over-year sales , lower equity earnings due to weaker pricing in the asian electronics market , and the absence of the $ 19 million gain which occurred in 2004 stemming from the sale/ leaseback of precious metals .despite high energy costs , we expect fiber glass earnings to improve in 2006 because of price strengthening in the asian electronics market , which began to occur in the fourth quarter of 2005 , increased cost reduction initiatives and the positive impact resulting from the start up of our new joint venture in china .this joint venture will produce high labor content fiber glass reinforcement products and take advantage of lower labor costs , allowing us to refocus our u.s .production capacity on higher margin direct process products .the 2005 operating earnings of our north american automotive oem glass business declined by $ 30 million compared with 2004 .significant structural changes continue to occur in the north american automotive industry , including the loss of u.s .market share by general motors and ford .this has created a very challenging and competitive environment for all suppliers to the domestic oems , including our business .about half of the decline in earnings resulted from the impact of rising natural gas costs , particularly in the fourth quarter , combined with the traditional adverse impact of year-over-year sales price reductions producing a decline in earnings that exceeded our successful efforts to reduce manufacturing costs .the other half of the 2005 decline was due to lower sales volumes and mix and higher new program launch costs .the challenging competitive environment and high energy prices will continue in 2006 .our business is working in 2006 to improve its performance through increased manufacturing efficiencies , structural cost reduction initiatives , focusing on profitable growth opportunities and improving our sales mix .chemicals sales increased $ 364 million or 18% ( 18 % ) in 2005 .sales increased 21% ( 21 % ) due to higher selling prices , primarily for chlor-alkali products , and 1% ( 1 % ) due to the combination of an acquisition in our optical products business and the positive effects of foreign currency translation .total volumes declined 4% ( 4 % ) as volume increases in optical products were more than offset by volume declines in chlor-alkali and fine chemicals .volume in chlor-alkali products and silicas were adversely impacted in the third and fourth quarters by the hurricanes .operating income increased $ 160 million in 2005 .the primary factor increasing operating income was the record high selling prices in chlor-alkali .factors decreasing operating income were higher inflation , including $ 136 million due to increased energy and ethylene costs ; $ 34 million of direct costs related to the impact of the hurricanes ; $ 27 million due to the asset impairment charge related to our fine chemicals business ; lower sales volumes ; higher manufacturing costs and increased environmental expenses .the increase in chemicals operating earnings occurred primarily through the first eight months of 2005 .the hurricanes hit in september impacting volumes and costs in september through november and contributing to the rise in natural gas prices which lowered fourth quarter chemicals earnings by $ 58 million , almost 57% ( 57 % ) of the full year impact of higher natural gas prices .the damage caused by hurricane rita resulted in the shutdown of our lake charles , la chemical plant for a total of eight days in september and an additional five 18 2005 ppg annual report and form 10-k .
|
what was the operating margin for the coatings segment in 2005?
|
11%
|
{
"answer": "11%",
"decimal": 0.11,
"type": "percentage"
}
| |
32 | bhge 2018 form 10-k baker hughes rig count the baker hughes rig counts are an important business barometer for the drilling industry and its suppliers .when drilling rigs are active they consume products and services produced by the oil service industry .rig count trends are driven by the exploration and development spending by oil and natural gas companies , which in turn is influenced by current and future price expectations for oil and natural gas .the counts may reflect the relative strength and stability of energy prices and overall market activity , however , these counts should not be solely relied on as other specific and pervasive conditions may exist that affect overall energy prices and market activity .we have been providing rig counts to the public since 1944 .we gather all relevant data through our field service personnel , who obtain the necessary data from routine visits to the various rigs , customers , contractors and other outside sources as necessary .we base the classification of a well as either oil or natural gas primarily upon filings made by operators in the relevant jurisdiction .this data is then compiled and distributed to various wire services and trade associations and is published on our website .we believe the counting process and resulting data is reliable , however , it is subject to our ability to obtain accurate and timely information .rig counts are compiled weekly for the u.s .and canada and monthly for all international rigs .published international rig counts do not include rigs drilling in certain locations , such as russia , the caspian region and onshore china because this information is not readily available .rigs in the u.s .and canada are counted as active if , on the day the count is taken , the well being drilled has been started but drilling has not been completed and the well is anticipated to be of sufficient depth to be a potential consumer of our drill bits .in international areas , rigs are counted on a weekly basis and deemed active if drilling activities occurred during the majority of the week .the weekly results are then averaged for the month and published accordingly .the rig count does not include rigs that are in transit from one location to another , rigging up , being used in non-drilling activities including production testing , completion and workover , and are not expected to be significant consumers of drill bits .the rig counts are summarized in the table below as averages for each of the periods indicated. .
[['', '2018', '2017', '2016'], ['north america', '1223', '1082', '642'], ['international', '988', '948', '956'], ['worldwide', '2211', '2030', '1598']]
2018 compared to 2017 overall the rig count was 2211 in 2018 , an increase of 9% ( 9 % ) as compared to 2017 due primarily to north american activity .the rig count in north america increased 13% ( 13 % ) in 2018 compared to 2017 .internationally , the rig count increased 4% ( 4 % ) in 2018 as compared to the same period last year .within north america , the increase was primarily driven by the u.s .rig count , which was up 18% ( 18 % ) on average versus 2017 , partially offset with a decrease in the canadian rig count , which was down 8% ( 8 % ) on average .internationally , the improvement in the rig count was driven primarily by increases in the africa region of 18% ( 18 % ) , the asia-pacific region and latin america region , were also up by 9% ( 9 % ) and 3% ( 3 % ) , respectively , partially offset by the europe region , which was down 8% ( 8 % ) .2017 compared to 2016 overall the rig count was 2030 in 2017 , an increase of 27% ( 27 % ) as compared to 2016 due primarily to north american activity .the rig count in north america increased 69% ( 69 % ) in 2017 compared to 2016 .internationally , the rig count decreased 1% ( 1 % ) in 2017 as compared to the same period last year .within north america , the increase was primarily driven by the land rig count , which was up 72% ( 72 % ) , partially offset by a decrease in the offshore rig count of 16% ( 16 % ) .internationally , the rig count decrease was driven primarily by decreases in latin america of 7% ( 7 % ) , the europe region and africa region , which were down by 4% ( 4 % ) and 2% ( 2 % ) , respectively , partially offset by the asia-pacific region , which was up 8%. .
|
what portion of total rig count is in north america in 2018?
|
55.3%
|
{
"answer": "55.3%",
"decimal": 0.5529999999999999,
"type": "percentage"
}
| |
part a0iii item a010 .directors , executive officers and corporate governance for the information required by this item a010 with respect to our executive officers , see part a0i , item 1 .of this report .for the other information required by this item a010 , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection a016 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .the proxy statement for our 2019 annual meeting will be filed within 120 a0days after the end of the fiscal year covered by this annual report on form 10-k .item a011 .executive compensation for the information required by this item a011 , see 201ccompensation discussion and analysis , 201d 201ccompensation committee report , 201d and 201cexecutive compensation 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .item a012 .security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item a012 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .the following table sets forth certain information as of december a031 , 2018 regarding our equity plans : plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1471449 $ 136.62 3578241 ( 1 ) the number of securities in column ( a ) include 22290 shares of common stock underlying performance stock units if maximum performance levels are achieved ; the actual number of shares , if any , to be issued with respect to the performance stock units will be based on performance with respect to specified financial and relative stock price measures .item a013 .certain relationships and related transactions , and director independence for the information required by this item a013 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .item a014 .principal accounting fees and services for the information required by this item a014 , see 201caudit and non-audit fees 201d and 201caudit committee pre-approval procedures 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference. .
[['plan category', 'number of securitiesto be issued uponexercise ofoutstanding options warrants and rights ( 1 ) ( a ) ( b )', 'weighted-averageexercise price ofoutstanding options warrants and rights', 'number of securitiesremaining available forfuture issuance underequity compensationplans ( excludingsecurities reflected in column ( a ) ) ( c )'], ['equity compensation plans approved by security holders', '1471449', '$ 136.62', '3578241']]
part a0iii item a010 .directors , executive officers and corporate governance for the information required by this item a010 with respect to our executive officers , see part a0i , item 1 .of this report .for the other information required by this item a010 , see 201celection of directors , 201d 201cnominees for election to the board of directors , 201d 201ccorporate governance 201d and 201csection a016 ( a ) beneficial ownership reporting compliance , 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .the proxy statement for our 2019 annual meeting will be filed within 120 a0days after the end of the fiscal year covered by this annual report on form 10-k .item a011 .executive compensation for the information required by this item a011 , see 201ccompensation discussion and analysis , 201d 201ccompensation committee report , 201d and 201cexecutive compensation 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .item a012 .security ownership of certain beneficial owners and management and related stockholder matters for the information required by this item a012 with respect to beneficial ownership of our common stock , see 201csecurity ownership of certain beneficial owners and management 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .the following table sets forth certain information as of december a031 , 2018 regarding our equity plans : plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1471449 $ 136.62 3578241 ( 1 ) the number of securities in column ( a ) include 22290 shares of common stock underlying performance stock units if maximum performance levels are achieved ; the actual number of shares , if any , to be issued with respect to the performance stock units will be based on performance with respect to specified financial and relative stock price measures .item a013 .certain relationships and related transactions , and director independence for the information required by this item a013 , see 201ccertain transactions 201d and 201ccorporate governance 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference .item a014 .principal accounting fees and services for the information required by this item a014 , see 201caudit and non-audit fees 201d and 201caudit committee pre-approval procedures 201d in the proxy statement for our 2019 annual meeting , which information is incorporated herein by reference. .
|
what percentage of securities to be issued upon exercise are shares of common stock underlying performance stock units if maximum performance levels are achieved?
|
1.51%
|
{
"answer": "1.51%",
"decimal": 0.0151,
"type": "percentage"
}
| |
five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the dj trans , and the s&p 500 .the graph assumes that $ 100 was invested in the common stock of union pacific corporation and each index on december 31 , 2012 and that all dividends were reinvested .the information below is historical in nature and is not necessarily indicative of future performance .purchases of equity securities 2013 during 2017 , we repurchased 37122405 shares of our common stock at an average price of $ 110.50 .the following table presents common stock repurchases during each month for the fourth quarter of 2017 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares remaining under the plan or program [b] .
[['period', 'total number of shares purchased [a]', 'average price paid per share', 'total number of shares purchased as part of a publicly announcedplan or program [b]', 'maximum number of shares remaining under the plan or program [b]'], ['oct . 1 through oct . 31', '3831636', '$ 113.61', '3800000', '89078662'], ['nov . 1 through nov . 30', '3005225', '117.07', '2937410', '86141252'], ['dec . 1 through dec . 31', '2718319', '130.76', '2494100', '83647152'], ['total', '9555180', '$ 119.58', '9231510', 'n/a']]
[a] total number of shares purchased during the quarter includes approximately 323670 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares .[b] effective january 1 , 2017 , our board of directors authorized the repurchase of up to 120 million shares of our common stock by december 31 , 2020 .these repurchases may be made on the open market or through other transactions .our management has sole discretion with respect to determining the timing and amount of these transactions. .
|
what percent of the total shares purchased during the fourth quarter of 2017 were purchased in november?
|
31%
|
{
"answer": "31%",
"decimal": 0.31,
"type": "percentage"
}
| |
determined that it was the primary beneficiary of the 2001 financing entities and thus consolidated the entities effective march 16 , 2011 .effective april 30 , 2011 , international paper liquidated its interest in the 2001 financing entities .activity between the company and the 2002 financ- ing entities was as follows: .
[['in millions', '2012', '2011', '2010'], ['revenue ( loss ) ( a )', '$ 2014', '$ 2', '$ 5'], ['expense ( b )', '2014', '3', '8'], ['cash receipts ( c )', '252', '192', '3'], ['cash payments ( d )', '159', '244', '8']]
( a ) the revenue is included in equity earnings ( loss ) , net of tax in the accompanying consolidated statement of operations .( b ) the expense is included in interest expense , net in the accom- panying consolidated statement of operations .( c ) the cash receipts are equity distributions from the 2002 financ- ing entities to international paper and cash receipts from the maturity of the 2002 monetized notes .( d ) the cash payments include both interest and principal on the associated debt obligations .on may 31 , 2011 , the third-party equity holder of the 2002 financing entities retired its class a interest in the entities for $ 51 million .as a result of the retire- ment , effective may 31 , 2011 , international paper owned 100% ( 100 % ) of the 2002 financing entities .based on an analysis performed by the company after the retirement , under guidance that considers the poten- tial magnitude of the variability in the structure and which party has controlling financial interest , international paper determined that it was the pri- mary beneficiary of the 2002 financing entities and thus consolidated the entities effective may 31 , 2011 .during the year ended december 31 , 2011 approx- imately $ 191 million of the 2002 monetized notes matured .outstanding debt related to these entities of $ 158 million is included in floating rate notes due 2011 2013 2017 in the summary of long-term debt in note 12 at december 31 , 2011 .as of may 31 , 2012 , this debt had been repaid .during the year ended december 31 , 2012 , $ 252 mil- lion of the 2002 monetized notes matured .as of result of these maturities , accounts and notes receivable decreased $ 252 million and notes payable and current maturities of long-term debt decreased $ 158 million .deferred tax liabilities associated with the 2002 forestland installment sales decreased $ 67 million .effective june 1 , 2012 , international paper liquidated its interest in the 2002 financing entities .the use of the above entities facilitated the mone- tization of the credit enhanced timber and mone- tized notes in a cost effective manner by increasing the borrowing capacity and lowering the interest rate while continuing to preserve the tax deferral that resulted from the forestlands installment sales and the offset accounting treatment described above .in connection with the acquisition of temple-inland in february 2012 , two special purpose entities became wholly-owned subsidiaries of international paper .in october 2007 , temple-inland sold 1.55 million acres of timberlands for $ 2.38 billion .the total con- sideration consisted almost entirely of notes due in 2027 issued by the buyer of the timberlands , which temple-inland contributed to two wholly-owned , bankruptcy-remote special purpose entities .the notes are shown in financial assets of special pur- pose entities in the accompanying consolidated balance sheet and are supported by $ 2.38 billion of irrevocable letters of credit issued by three banks , which are required to maintain minimum credit rat- ings on their long-term debt .in the third quarter of 2012 , international paper completed is preliminary analysis of the acquisition date fair value of the notes and determined it to be $ 2.09 billion .as a result of this analysis , financial assets of special purposed entities decreased by $ 292 million and goodwill increased by the same amount .as of december 31 , 2012 , the fair value of the notes was $ 2.21 billion .in december 2007 , temple-inland 2019s two wholly- owned special purpose entities borrowed $ 2.14 bil- lion shown in nonrecourse financial liabilities of special purpose entities in the accompanying con- solidated balance sheet .the loans are repayable in 2027 and are secured only by the $ 2.38 billion of notes and the irrevocable letters of credit securing the notes and are nonrecourse to the company .the loan agreements provide that if a credit rating of any of the banks issuing the letters of credit is down- graded below the specified threshold , the letters of credit issued by that bank must be replaced within 30 days with letters of credit from another qualifying financial institution .in the third quarter of 2012 , international paper completed its preliminary analy- sis of the acquisition date fair value of the borrow- ings and determined it to be $ 2.03 billion .as a result of this analysis , nonrecourse financial liabilities of special purpose entities decreased by $ 110 million and goodwill decreased by the same amount .as of december 31 , 2012 , the fair value of this debt was $ 2.12 billion .the buyer of the temple-inland timberland issued the $ 2.38 billion in notes from its wholly-owned , bankruptcy-remote special purpose entities .the buyer 2019s special purpose entities held the timberlands from the transaction date until november 2008 , at which time the timberlands were transferred out of the buyer 2019s special purpose entities .due to the transfer of the timberlands , temple-inland evaluated the buyer 2019s special purpose entities and determined that they were variable interest entities and that temple-inland was the primary beneficiary .as a result , in 2008 , temple-inland .
|
based on the review of the activity between the company and the 2002 financ- ing entities what was the ratio of the revenue to the expense in 2010
|
.625
|
{
"answer": ".625",
"decimal": 0.625,
"type": "float"
}
| |
new term loan a facility , with the remaining unpaid principal amount of loans under the new term loan a facility due and payable in full at maturity on june 6 , 2021 .principal amounts outstanding under the new revolving loan facility are due and payable in full at maturity on june 6 , 2021 , subject to earlier repayment pursuant to the springing maturity date described above .in addition to paying interest on outstanding principal under the borrowings , we are obligated to pay a quarterly commitment fee at a rate determined by reference to a total leverage ratio , with a maximum commitment fee of 40% ( 40 % ) of the applicable margin for eurocurrency loans .in july 2016 , breakaway four , ltd. , as borrower , and nclc , as guarantor , entered into a supplemental agreement , which amended the breakaway four loan to , among other things , increase the aggregate principal amount of commitments under the multi-draw term loan credit facility from 20ac590.5 million to 20ac729.9 million .in june 2016 , we took delivery of seven seas explorer .to finance the payment due upon delivery , we had export credit financing in place for 80% ( 80 % ) of the contract price .the associated $ 373.6 million term loan bears interest at 3.43% ( 3.43 % ) with a maturity date of june 30 , 2028 .principal and interest payments shall be paid semiannually .in december 2016 , nclc issued $ 700.0 million aggregate principal amount of 4.750% ( 4.750 % ) senior unsecured notes due december 2021 ( the 201cnotes 201d ) in a private offering ( the 201coffering 201d ) at par .nclc used the net proceeds from the offering , after deducting the initial purchasers 2019 discount and estimated fees and expenses , together with cash on hand , to purchase its outstanding 5.25% ( 5.25 % ) senior notes due 2019 having an aggregate outstanding principal amount of $ 680 million .the redemption of the 5.25% ( 5.25 % ) senior notes due 2019 was completed in january 2017 .nclc will pay interest on the notes at 4.750% ( 4.750 % ) per annum , semiannually on june 15 and december 15 of each year , commencing on june 15 , 2017 , to holders of record at the close of business on the immediately preceding june 1 and december 1 , respectively .nclc may redeem the notes , in whole or part , at any time prior to december 15 , 2018 , at a price equal to 100% ( 100 % ) of the principal amount of the notes redeemed plus accrued and unpaid interest to , but not including , the redemption date and a 201cmake-whole premium . 201d nclc may redeem the notes , in whole or in part , on or after december 15 , 2018 , at the redemption prices set forth in the indenture governing the notes .at any time ( which may be more than once ) on or prior to december 15 , 2018 , nclc may choose to redeem up to 40% ( 40 % ) of the aggregate principal amount of the notes at a redemption price equal to 104.750% ( 104.750 % ) of the face amount thereof with an amount equal to the net proceeds of one or more equity offerings , so long as at least 60% ( 60 % ) of the aggregate principal amount of the notes issued remains outstanding following such redemption .the indenture governing the notes contains covenants that limit nclc 2019s ability ( and its restricted subsidiaries 2019 ability ) to , among other things : ( i ) incur or guarantee additional indebtedness or issue certain preferred shares ; ( ii ) pay dividends and make certain other restricted payments ; ( iii ) create restrictions on the payment of dividends or other distributions to nclc from its restricted subsidiaries ; ( iv ) create liens on certain assets to secure debt ; ( v ) make certain investments ; ( vi ) engage in transactions with affiliates ; ( vii ) engage in sales of assets and subsidiary stock ; and ( viii ) transfer all or substantially all of its assets or enter into merger or consolidation transactions .the indenture governing the notes also provides for events of default , which , if any of them occurs , would permit or require the principal , premium ( if any ) , interest and other monetary obligations on all of the then-outstanding notes to become due and payable immediately .interest expense , net for the year ended december 31 , 2016 was $ 276.9 million which included $ 34.7 million of amortization of deferred financing fees and a $ 27.7 million loss on extinguishment of debt .interest expense , net for the year ended december 31 , 2015 was $ 221.9 million which included $ 36.7 million of amortization of deferred financing fees and a $ 12.7 million loss on extinguishment of debt .interest expense , net for the year ended december 31 , 2014 was $ 151.8 million which included $ 32.3 million of amortization of deferred financing fees and $ 15.4 million of expenses related to financing transactions in connection with the acquisition of prestige .certain of our debt agreements contain covenants that , among other things , require us to maintain a minimum level of liquidity , as well as limit our net funded debt-to-capital ratio , maintain certain other ratios and restrict our ability to pay dividends .substantially all of our ships and other property and equipment are pledged as collateral for certain of our debt .we believe we were in compliance with these covenants as of december 31 , 2016 .the following are scheduled principal repayments on long-term debt including capital lease obligations as of december 31 , 2016 for each of the next five years ( in thousands ) : .
[['year', 'amount'], ['2017', '$ 560193'], ['2018', '554846'], ['2019', '561687'], ['2020', '1153733'], ['2021', '2193823'], ['thereafter', '1490322'], ['total', '$ 6514604']]
we had an accrued interest liability of $ 32.5 million and $ 34.2 million as of december 31 , 2016 and 2015 , respectively. .
|
from 2014 to 2016 , what was the total amount of money they can deduct from their future income tax due to amortization?
|
$ 103.7 million
|
{
"answer": "$ 103.7 million",
"decimal": 103700000,
"type": "money"
}
|
to find the total amount of money they can deduct from future income tax due to amortization , one must added up the amount of amortization from the years of 201420152016
|
adequacy of our provision for income taxes , we regularly assess the likelihood of adverse outcomes resulting from tax examinations .while it is often difficult to predict the final outcome or the timing of the resolution of a tax examination , our reserves for uncertain tax benefits reflect the outcome of tax positions that are more likely than not to occur .while we believe that we have complied with all applicable tax laws , there can be no assurance that a taxing authority will not have a different interpretation of the law and assess us with additional taxes .should additional taxes be assessed , this may result in a material adverse effect on our results of operations and financial condition .item 1b .unresolved staff comments we have no unresolved sec staff comments to report .item 2 .properties as of december 31 , 2018 , we owned or leased 126 major manufacturing sites and 15 major technical centers .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 .we have a presence in 44 countries .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'], ['signal and power solutions', '45', '33', '33', '5', '116'], ['advanced safety and user experience', '2', '5', '3', '2014', '10'], ['total', '47', '38', '36', '5', '126']]
in addition to these manufacturing sites , we had 15 major technical centers : eight in north america ; two in europe , middle east and africa ; and five in asia pacific .of our 126 major manufacturing sites and 15 major technical centers , which include facilities owned or leased by our consolidated subsidiaries , 61 are primarily owned and 80 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 .brazil matters aptiv conducts business operations in brazil that are subject to the brazilian federal labor , social security , environmental , tax and customs laws , as well as a variety of state and local laws .while aptiv believes it complies with such laws , they are complex , subject to varying interpretations , and the company is often engaged in litigation with government agencies regarding the application of these laws to particular circumstances .as of december 31 , 2018 , the majority of claims asserted against aptiv in brazil relate to such litigation .the remaining claims in brazil relate to commercial and labor litigation with private parties .as of december 31 , 2018 , claims totaling approximately $ 145 million ( using december 31 , 2018 foreign currency rates ) have been asserted against aptiv in brazil .as of december 31 , 2018 , the company maintains accruals for these asserted claims of $ 30 million ( using december 31 , 2018 foreign currency rates ) .the amounts accrued represent claims that are deemed probable of loss and are reasonably estimable based on the company 2019s analyses and assessment of the asserted claims and prior experience with similar matters .while the company believes its accruals are adequate , the final amounts required to resolve these matters could differ materially from the company 2019s recorded estimates and aptiv 2019s results of .
|
what is the percentage of north america's signal and power solutions sites among all signal and power solutions sites?
|
38.79%
|
{
"answer": "38.79%",
"decimal": 0.38789999999999997,
"type": "percentage"
}
|
it is the number of sites in north america divided by the total sites , then turned into a percentage .
|
item 7 .management 2019s discussion and analysis of financial condition and results of operations executive summary international paper 2019s operating results in 2007 bene- fited from significantly higher paper and packaging price realizations .sales volumes were slightly high- er , with growth in overseas markets partially offset by lower volumes in north america as we continued to balance our production with our customers 2019 demand .operationally , our pulp and paper and containerboard mills ran very well in 2007 .however , input costs for wood , energy and transportation costs were all well above 2006 levels .in our forest products business , earnings decreased 31% ( 31 % ) reflect- ing a sharp decline in harvest income and a smaller drop in forestland and real estate sales , both reflect- ing our forestland divestitures in 2006 .interest expense decreased over 40% ( 40 % ) , principally due to lower debt balances and interest rates from debt repayments and refinancings .looking forward to the first quarter of 2008 , we expect demand for north american printing papers and packaging to remain steady .however , if the economic downturn in 2008 is greater than expected , this could have a negative impact on sales volumes and earnings .some slight increases in paper and packaging price realizations are expected as we implement our announced price increases .however , first quarter earnings will reflect increased planned maintenance expenses and continued escalation of wood , energy and transportation costs .as a result , excluding the impact of projected reduced earnings from land sales and the addition of equity earnings contributions from our recent investment in ilim holding s.a .in russia , we expect 2008 first-quarter earnings to be lower than in the 2007 fourth quarter .results of operations industry segment operating profits are used by inter- national paper 2019s management to measure the earn- ings performance of its businesses .management believes that this measure allows a better under- standing of trends in costs , operating efficiencies , prices and volumes .industry segment operating profits are defined as earnings before taxes and minority interest , interest expense , corporate items and corporate special items .industry segment oper- ating profits are defined by the securities and exchange commission as a non-gaap financial measure , and are not gaap alternatives to net earn- ings or any other operating measure prescribed by accounting principles generally accepted in the united states .international paper operates in six segments : print- ing papers , industrial packaging , consumer pack- aging , distribution , forest products , and specialty businesses and other .the following table shows the components of net earnings for each of the last three years : in millions 2007 2006 2005 .
[['in millions', '2007', '2006', '2005'], ['industry segment operating profits', '$ 2423', '$ 2074', '$ 1622'], ['corporate items net', '-732 ( 732 )', '-746 ( 746 )', '-607 ( 607 )'], ['corporate special items*', '241', '2373', '-134 ( 134 )'], ['interest expense net', '-297 ( 297 )', '-521 ( 521 )', '-595 ( 595 )'], ['minority interest', '-5 ( 5 )', '-9 ( 9 )', '-9 ( 9 )'], ['income tax benefit ( provision )', '-415 ( 415 )', '-1889 ( 1889 )', '407'], ['discontinued operations', '-47 ( 47 )', '-232 ( 232 )', '416'], ['net earnings', '$ 1168', '$ 1050', '$ 1100']]
* corporate special items include restructuring and other charg- es , net ( gains ) losses on sales and impairments of businesses , gains on transformation plan forestland sales , goodwill impairment charges , insurance recoveries and reversals of reserves no longer required .industry segment operating profits of $ 2.4 billion were $ 349 million higher in 2007 than in 2006 due principally to the benefits from higher average price realizations ( $ 461 million ) , the net impact of cost reduction initiatives , improved operating perform- ance and a more favorable mix of products sold ( $ 304 million ) , higher sales volumes ( $ 17 million ) , lower special item costs ( $ 115 million ) and other items ( $ 4 million ) .these benefits more than offset the impacts of higher energy , raw material and freight costs ( $ 205 million ) , higher costs for planned mill maintenance outages ( $ 48 million ) , lower earn- ings from land sales ( $ 101 million ) , costs at the pensacola mill associated with the conversion of a machine to the production of linerboard ( $ 52 million ) and reduced earnings due to net acquisitions and divestitures ( $ 146 million ) .segment operating profit ( in millions ) $ 2074 ( $ 205 ) ( $ 48 ) $ 17 ( $ 244 ) $ 2423$ 4 ( $ 52 ) ( $ 101 ) $ 461 $ 1000 $ 1500 $ 2000 $ 2500 $ 3000 .
|
in 2007 what was the percentage change in the industry segment operating profits from 2006
|
17.0%
|
{
"answer": "17.0%",
"decimal": 0.17,
"type": "percentage"
}
|
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.