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vertex pharmaceuticals incorporated notes to consolidated financial statements ( continued ) i .altus investment ( continued ) of the offering , held 450000 shares of redeemable preferred stock , which are not convertible into common stock and which are redeemable for $ 10.00 per share plus annual dividends of $ 0.50 per share , which have been accruing since the redeemable preferred stock was issued in 1999 , at vertex 2019s option on or after december 31 , 2010 , or by altus at any time .the company was restricted from trading altus securities for a period of six months following the initial public offering .when the altus securities trading restrictions expired , the company sold the 817749 shares of altus common stock for approximately $ 11.7 million , resulting in a realized gain of approximately $ 7.7 million in august 2006 .additionally when the restrictions expired , the company began accounting for the altus warrants as derivative instruments under the financial accounting standards board statement no .fas 133 , 201caccounting for derivative instruments and hedging activities 201d ( 201cfas 133 201d ) .in accordance with fas 133 , in the third quarter of 2006 , the company recorded the altus warrants on its consolidated balance sheet at a fair market value of $ 19.1 million and recorded an unrealized gain on the fair market value of the altus warrants of $ 4.3 million .in the fourth quarter of 2006 the company sold the altus warrants for approximately $ 18.3 million , resulting in a realized loss of $ 0.7 million .as a result of the company 2019s sales of altus common stock and altus warrrants in 2006 , the company recorded a realized gain on a sale of investment of $ 11.2 million .in accordance with the company 2019s policy , as outlined in note b , 201caccounting policies , 201d the company assessed its investment in altus , which it accounts for using the cost method , and determined that there had not been any adjustments to the fair values of that investment that would require the company to write down the investment basis of the asset , in 2005 and 2006 .the company 2019s cost basis carrying value in its outstanding equity and warrants of altus was $ 18.9 million at december 31 , 2005 .j .accrued expenses and other current liabilities accrued expenses and other current liabilities consist of the following at december 31 ( in thousands ) : k .commitments the company leases its facilities and certain equipment under non-cancelable operating leases .the company 2019s leases have terms through april 2018 .the term of the kendall square lease began january 1 , 2003 and lease payments commenced in may 2003 .the company had an obligation under the kendall square lease , staged through 2006 , to build-out the space into finished laboratory and office space .this lease will expire in 2018 , and the company has the option to extend the term for two consecutive terms of ten years each , ultimately expiring in 2038 .the company occupies and uses for its operations approximately 120000 square feet of the kendall square facility .the company has sublease arrangements in place for the remaining rentable square footage of the kendall square facility , with initial terms that expires in april 2011 and august 2012 .see note e , 201crestructuring 201d for further information. .
[['', '2006', '2005'], ['research and development contract costs', '$ 57761', '$ 20098'], ['payroll and benefits', '25115', '15832'], ['professional fees', '3848', '4816'], ['other', '4635', '1315'], ['total', '$ 91359', '$ 42061']]
research and development contract costs $ 57761 $ 20098 payroll and benefits 25115 15832 professional fees 3848 4816 4635 1315 $ 91359 $ 42061 .
|
as part of the restructuring additional information what was the percent of the 2 research and development contract costs to the total cost in 2006
|
63.2%
|
{
"answer": "63.2%",
"decimal": 0.632,
"type": "percentage"
}
| |
llc 201d ) , that will focus on the deployment of a nationwide 4g wire- less network .we , together with the other members of the investor group , have invested $ 3.2 billion in clearwire llc .our portion of the investment was $ 1.05 billion .as a result of our investment , we received ownership units ( 201cownership units 201d ) of clearwire llc and class b stock ( 201cvoting stock 201d ) of clearwire corporation , the pub- licly traded holding company that controls clearwire llc .the voting stock has voting rights equal to those of the publicly traded class a stock of clearwire corporation , but has only minimal economic rights .we hold our economic rights through the owner- ship units , which have limited voting rights .one ownership unit combined with one share of voting stock are exchangeable into one share of clearwire corporation 2019s publicly traded class a stock .at closing , we received 52.5 million ownership units and 52.5 million shares of voting stock , which represents an approx- imate 7% ( 7 % ) ownership interest on a fully diluted basis .during the first quarter of 2009 , the purchase price per share is expected to be adjusted based on the trading prices of clearwire corporation 2019s publicly traded class a stock .after the post-closing adjustment , we anticipate that we will have an approximate 8% ( 8 % ) ownership interest on a fully diluted basis .in connection with the clearwire transaction , we entered into an agreement with sprint that allows us to offer wireless services utilizing certain of sprint 2019s existing wireless networks and an agreement with clearwire llc that allows us to offer wireless serv- ices utilizing clearwire 2019s next generation wireless broadband network .we allocated a portion of our $ 1.05 billion investment to the related agreements .we will account for our investment under the equity method and record our share of net income or loss one quarter in arrears .clearwire llc is expected to incur losses in the early years of operation , which under the equity method of accounting , will be reflected in our future operating results and reduce the cost basis of our investment .we evaluated our investment at december 31 , 2008 to determine if an other than temporary decline in fair value below our cost basis had occurred .the primary input in estimating the fair value of our investment was the quoted market value of clearwire publicly traded class a shares at december 31 , 2008 , which declined significantly from the date of our initial agreement in may 2008 .as a result of the severe decline in the quoted market value , we recognized an impairment in other income ( expense ) of $ 600 million to adjust our cost basis in our investment to its esti- mated fair value .in the future , our evaluation of other than temporary declines in fair value of our investment will include a comparison of actual operating results and updated forecasts to the projected discounted cash flows that were used in making our initial investment decision , other impairment indicators , such as changes in competition or technology , as well as a comparison to the value that would be obtained by exchanging our investment into clearwire corporation 2019s publicly traded class a shares .cost method airtouch communications , inc .we hold two series of preferred stock of airtouch communica- tions , inc .( 201cairtouch 201d ) , a subsidiary of vodafone , which are redeemable in april 2020 .as of december 31 , 2008 and 2007 , the airtouch preferred stock was recorded at $ 1.479 billion and $ 1.465 billion , respectively .as of december 31 , 2008 , the estimated fair value of the airtouch preferred stock was $ 1.357 billion , which is below our carrying amount .the recent decline in fair value is attributable to changes in interest rates .we have determined this decline to be temporary .the factors considered were the length of time and the extent to which the market value has been less than cost , the credit rating of airtouch , and our intent and ability to retain the investment for a period of time sufficient to allow for recovery .specifically , we expect to hold the two series of airtouch preferred stock until their redemption in 2020 .the dividend and redemption activity of the airtouch preferred stock determines the dividend and redemption payments asso- ciated with substantially all of the preferred shares issued by one of our consolidated subsidiaries , which is a vie .the subsidiary has three series of preferred stock outstanding with an aggregate redemption value of $ 1.750 billion .substantially all of the preferred shares are redeemable in april 2020 at a redemption value of $ 1.650 billion .as of december 31 , 2008 and 2007 , the two redeemable series of subsidiary preferred shares were recorded at $ 1.468 billion and $ 1.465 billion , respectively , and those amounts are included in other noncurrent liabilities .the one nonredeemable series of subsidiary preferred shares was recorded at $ 100 million as of both december 31 , 2008 and 2007 and those amounts are included in minority interest on our consolidated balance sheet .investment income ( loss ) , net .
[['year ended december 31 ( in millions )', '2008', '2007', '2006'], ['gains on sales and exchanges of investments net', '$ 8', '$ 151', '$ 733'], ['investment impairment losses', '-28 ( 28 )', '-4 ( 4 )', '-4 ( 4 )'], ['unrealized gains ( losses ) on trading securities and hedged items', '-1117 ( 1117 )', '315', '339'], ['mark to market adjustments on derivatives related to trading securities and hedged items', '1120', '-188 ( 188 )', '-238 ( 238 )'], ['mark to market adjustments on derivatives', '57', '160', '-18 ( 18 )'], ['interest and dividend income', '149', '199', '212'], ['other', '-100 ( 100 )', '-32 ( 32 )', '-34 ( 34 )'], ['investment income ( loss ) net', '$ 89', '$ 601', '$ 990']]
55 comcast 2008 annual report on form 10-k .
|
what was the average net investment income from 2006 to 2008
|
560
|
{
"answer": "560",
"decimal": 560,
"type": "float"
}
| |
be resolved , we cannot reasonably determine the probability of an adverse claim or reasonably estimate any adverse liability or the total maximum exposure under these indemnification arrangements .we do not have any reason to believe that we will be required to make any material payments under these indemnity provisions .income taxes 2013 as discussed in note 4 , the irs has completed its examinations and issued notices of deficiency for tax years 1995 through 2004 , and we are in different stages of the irs appeals process for these years .the irs is examining our tax returns for tax years 2005 and 2006 .in the third quarter of 2007 , we believe that we reached an agreement in principle with the irs to resolve all of the issues , except interest , related to tax years 1995 through 1998 , including the previously reported dispute over certain donations of property .we anticipate signing a closing agreement in 2008 .at december 31 , 2007 , we have recorded a current liability of $ 140 million for tax payments in 2008 related to federal and state income tax examinations .we do not expect that the ultimate resolution of these examinations will have a material adverse effect on our consolidated financial statements .11 .other income other income included the following for the years ended december 31 : millions of dollars 2007 2006 2005 .
[['millions of dollars', '2007', '2006', '2005'], ['rental income', '$ 68', '$ 83', '$ 59'], ['net gain on non-operating asset dispositions', '52', '72', '135'], ['interest income', '50', '29', '17'], ['sale of receivables fees', '-35 ( 35 )', '-33 ( 33 )', '-23 ( 23 )'], ['non-operating environmental costs and other', '-19 ( 19 )', '-33 ( 33 )', '-43 ( 43 )'], ['total', '$ 116', '$ 118', '$ 145']]
12 .share repurchase program on january 30 , 2007 , our board of directors authorized the repurchase of up to 20 million shares of union pacific corporation common stock through the end of 2009 .management 2019s assessments of market conditions and other pertinent facts guide the timing and volume of all repurchases .we expect to fund our common stock repurchases through cash generated from operations , the sale or lease of various operating and non- operating properties , debt issuances , and cash on hand at december 31 , 2007 .during 2007 , we repurchased approximately 13 million shares under this program at an aggregate purchase price of approximately $ 1.5 billion .these shares were recorded in treasury stock at cost , which includes any applicable commissions and fees. .
|
what percent of total other income was rental income in 2006?
|
70%
|
{
"answer": "70%",
"decimal": 0.7,
"type": "percentage"
}
| |
kimco realty corporation and subsidiaries notes to consolidated financial statements , continued uncertain tax positions : the company is subject to income tax in certain jurisdictions outside the u.s. , principally canada and mexico .the statute of limitations on assessment of tax varies from three to seven years depending on the jurisdiction and tax issue .tax returns filed in each jurisdiction are subject to examination by local tax authorities .the company is currently under audit by the canadian revenue agency , mexican tax authority and the u.s .internal revenue service ( 201cirs 201d ) .in october 2011 , the irs issued a notice of proposed adjustment , which proposes pursuant to section 482 of the code , to disallow a capital loss claimed by krs on the disposition of common shares of valad property ltd. , an australian publicly listed company .because the adjustment is being made pursuant to section 482 of the code , the irs believes it can assert a 100 percent 201cpenalty 201d tax pursuant to section 857 ( b ) ( 7 ) of the code and disallow the capital loss deduction .the notice of proposed adjustment indicates the irs 2019 intention to impose the 100 percent 201cpenalty 201d tax on the company in the amount of $ 40.9 million and disallowing the capital loss claimed by krs .the company and its outside counsel have considered the irs 2019 assessment and believe that there is sufficient documentation establishing a valid business purpose for the transfer , including recent case history showing support for similar positions .accordingly , the company strongly disagrees with the irs 2019 position on the application of section 482 of the code to the disposition of the shares , the imposition of the 100 percent penalty tax and the simultaneous assertion of the penalty tax and disallowance of the capital loss deduction .the company received a notice of proposed assessment and filed a written protest and requested an irs appeals office conference .an appeals hearing was attended by management and its attorneys , the irs compliance group and an irs appeals officer in november , 2014 , at which time irs compliance presented arguments in support of their position , as noted herein .management and its attorneys presented rebuttal arguments in support of its position .the matter is currently under consideration by the appeals officer .the company intends to vigorously defend its position in this matter and believes it will prevail .resolutions of these audits are not expected to have a material effect on the company 2019s financial statements .during 2013 , the company early adopted asu 2013-11 prospectively and reclassified a portion of its reserve for uncertain tax positions .the reserve for uncertain tax positions included amounts related to the company 2019s canadian operations .the company has unrecognized tax benefits reported as deferred tax assets and are available to settle adjustments made with respect to the company 2019s uncertain tax positions in canada .the company reduced its reserve for uncertain tax positions by $ 12.3 million associated with its canadian operations and reduced its deferred tax assets in accordance with asu 2013-11 .the company does not believe that the total amount of unrecognized tax benefits as of december 31 , 2014 , will significantly increase or decrease within the next 12 months .as of december 31 , 2014 , the company 2019s canadian uncertain tax positions , which reduce its deferred tax assets , aggregated $ 10.4 million .the liability for uncertain tax benefits principally consists of estimated foreign , federal and state income tax liabilities in years for which the statute of limitations is open .open years range from 2008 through 2014 and vary by jurisdiction and issue .the aggregate changes in the balance of unrecognized tax benefits for the years ended december 31 , 2014 and 2013 were as follows ( in thousands ) : .
[['', '201 4', '2013'], ['balance beginning of year', '$ 4590', '$ 16890'], ['increases for tax positions related to current year', '59', '15'], ['reduction due to adoption of asu 2013-11 ( a )', '-', '-12315 ( 12315 )'], ['balance end of year', '$ 4649', '$ 4590']]
( a ) this amount was reclassified against the related deferred tax asset relating to the company 2019s early adoption of asu 2013-11 as discussed above. .
|
what was the percentage decrease in the 2013 balance from the beginning of the year to the end of the year?
|
72.82%
|
{
"answer": "72.82%",
"decimal": 0.7282,
"type": "percentage"
}
| |
under the terms of the ansys , inc .long-term incentive plan , in the first quarter of 2012 , 2011 and 2010 , the company granted 100000 , 92500 and 80500 performance-based restricted stock units , respectively .vesting of the full award or a portion thereof is based on the company 2019s performance as measured by total shareholder return relative to the median percentage appreciation of the nasdaq composite index over a specified measurement period , subject to each participant 2019s continued employment with the company through the conclusion of the measurement period .the measurement period for the restricted stock units granted pursuant to the long-term incentive plan is a three-year period beginning january 1 of the year of the grant .each restricted stock unit relates to one share of the company 2019s common stock .the value of each restricted stock unit granted in 2012 , 2011 and 2010 was estimated on the grant date to be $ 33.16 , $ 32.05 and $ 25.00 , respectively .the estimate of the grant-date value of the restricted stock units was made using a monte carlo simulation model .the determination of the fair value of the awards was affected by the grant date and a number of variables , each of which has been identified in the chart below .share-based compensation expense based on the fair value of the award is being recorded from the grant date through the conclusion of the three-year measurement period .on december 31 , 2012 , employees earned 76500 restricted stock units , which will be issued in the first quarter of 2013 .total compensation expense associated with the awards recorded for the years ended december 31 , 2012 , 2011 and 2010 was $ 2.6 million , $ 1.6 million and $ 590000 , respectively .total compensation expense associated with the awards granted for the years ending december 31 , 2013 and 2014 is expected to be $ 2.2 million and $ 1.2 million , respectively. .
[['assumption used in monte carlo lattice pricing model', 'year ended december 31 , 2012', 'year ended december 31 , 2011 and 2010'], ['risk-free interest rate', '0.16% ( 0.16 % )', '1.35% ( 1.35 % )'], ['expected dividend yield', '0% ( 0 % )', '0% ( 0 % )'], ['expected volatility 2014ansys stock price', '28% ( 28 % )', '40% ( 40 % )'], ['expected volatility 2014nasdaq composite index', '20% ( 20 % )', '25% ( 25 % )'], ['expected term', '2.80', '2.90'], ['correlation factor', '0.75', '0.70']]
in accordance with the merger agreement , the company granted performance-based restricted stock units to key members of apache management and employees , with a maximum value of $ 13.0 million to be earned annually over a three-fiscal-year period beginning january 1 , 2012 .additional details regarding these awards are provided within note 3 .14 .stock repurchase program in february 2012 , ansys announced that its board of directors approved an increase to its authorized stock repurchase program .under the company 2019s stock repurchase program , ansys repurchased 1.5 million shares during the year ended december 31 , 2012 at an average price per share of $ 63.65 , for a total cost of $ 95.5 million .during the year ended december 31 , 2011 , the company repurchased 247443 shares at an average price per share of $ 51.34 , for a total cost of $ 12.7 million .as of december 31 , 2012 , 1.5 million shares remained authorized for repurchase under the program .15 .employee stock purchase plan the company 2019s 1996 employee stock purchase plan ( the 201cpurchase plan 201d ) was adopted by the board of directors on april 19 , 1996 and was subsequently approved by the company 2019s stockholders .the stockholders approved an amendment to the purchase plan on may 6 , 2004 to increase the number of shares available for offerings to 1.6 million shares .the purchase plan was amended and restated in 2007 .the purchase plan is administered by the compensation committee .offerings under the purchase plan commence on each february 1 and august 1 , and have a duration of six months .an employee who owns or is deemed to own shares of stock representing in excess of 5% ( 5 % ) of the combined voting power of all classes of stock of the company may not participate in the purchase plan .during each offering , an eligible employee may purchase shares under the purchase plan by authorizing payroll deductions of up to 10% ( 10 % ) of his or her cash compensation during the offering period .the maximum number of shares that may be purchased by any participating employee during any offering period is limited to 3840 shares ( as adjusted by the compensation committee from time to time ) .unless the employee has previously withdrawn from the offering , his accumulated payroll deductions will be used to purchase common stock on the last business day of the period at a price equal to 90% ( 90 % ) of the fair market value of the common stock on the first or last day of the offering period , whichever is lower .under applicable tax rules , an employee may purchase no more than $ 25000 worth of common stock in any calendar year .at december 31 , 2012 , 1233385 shares of common stock had been issued under the purchase plan , of which 1184082 were issued as of december 31 , 2011 .the total compensation expense recorded under the purchase plan during the years ended december 31 , 2012 , 2011 and 2010 was $ 710000 , $ 650000 and $ 500000 , respectively .table of contents .
|
what was the average total compensation expense associated with the awards granted for the years ending december 31 , 2013 and 2014?
|
1.7
|
{
"answer": "1.7",
"decimal": 1.7,
"type": "float"
}
| |
the company recorded equity earnings , net of taxes , related to ilim of $ 290 million in 2018 , compared with earnings of $ 183 million in 2017 , and $ 199 million in 2016 .operating results recorded in 2018 included an after-tax non-cash foreign exchange loss of $ 82 million , compared with an after-tax foreign exchange gain of $ 15 million in 2017 and an after-tax foreign exchange gain of $ 25 million in 2016 , primarily on the remeasurement of ilim's u.s .dollar denominated net debt .ilim delivered outstanding performance in 2018 , driven largely by higher price realization and strong demand .sales volumes for the joint venture increased year over year for shipments to china of softwood pulp and linerboard , but were offset by decreased sales of hardwood pulp to china .sales volumes in the russian market increased for softwood pulp and hardwood pulp , but decreased for linerboard .average sales price realizations were significantly higher in 2018 for sales of softwood pulp , hardwood pulp and linerboard to china and other export markets .average sales price realizations in russian markets increased year over year for all products .input costs were higher in 2018 , primarily for wood , fuel and chemicals .distribution costs were negatively impacted by tariffs and inflation .the company received cash dividends from the joint venture of $ 128 million in 2018 , $ 133 million in 2017 and $ 58 million in entering the first quarter of 2019 , sales volumes are expected to be lower than in the fourth quarter of 2018 , due to the seasonal slowdown in china and fewer trading days .based on pricing to date in the current quarter , average sales prices are expected to decrease for hardwood pulp , softwood pulp and linerboard to china .input costs are projected to be relatively flat , while distribution costs are expected to increase .equity earnings - gpip international paper recorded equity earnings of $ 46 million on its 20.5% ( 20.5 % ) ownership position in gpip in 2018 .the company received cash dividends from the investment of $ 25 million in 2018 .liquidity and capital resources overview a major factor in international paper 2019s liquidity and capital resource planning is its generation of operating cash flow , which is highly sensitive to changes in the pricing and demand for our major products .while changes in key cash operating costs , such as energy , raw material , mill outage and transportation costs , do have an effect on operating cash generation , we believe that our focus on pricing and cost controls has improved our cash flow generation over an operating cycle .cash uses during 2018 were primarily focused on working capital requirements , capital spending , debt reductions and returning cash to shareholders through dividends and share repurchases under the company's share repurchase program .cash provided by operating activities cash provided by operations , including discontinued operations , totaled $ 3.2 billion in 2018 , compared with $ 1.8 billion for 2017 , and $ 2.5 billion for 2016 .cash used by working capital components ( accounts receivable , contract assets and inventory less accounts payable and accrued liabilities , interest payable and other ) totaled $ 439 million in 2018 , compared with cash used by working capital components of $ 402 million in 2017 , and cash provided by working capital components of $ 71 million in 2016 .investment activities including discontinued operations , investment activities in 2018 increased from 2017 , as 2018 included higher capital spending .in 2016 , investment activity included the purchase of weyerhaeuser's pulp business for $ 2.2 billion in cash , the purchase of the holmen business for $ 57 million in cash , net of cash acquired , and proceeds from the sale of the asia packaging business of $ 108 million , net of cash divested .the company maintains an average capital spending target around depreciation and amortization levels , or modestly above , due to strategic plans over the course of an economic cycle .capital spending was $ 1.6 billion in 2018 , or 118% ( 118 % ) of depreciation and amortization , compared with $ 1.4 billion in 2017 , or 98% ( 98 % ) of depreciation and amortization , and $ 1.3 billion , or 110% ( 110 % ) of depreciation and amortization in 2016 .across our segments , capital spending as a percentage of depreciation and amortization ranged from 69.8% ( 69.8 % ) to 132.1% ( 132.1 % ) in 2018 .the following table shows capital spending for operations by business segment for the years ended december 31 , 2018 , 2017 and 2016 , excluding amounts related to discontinued operations of $ 111 million in 2017 and $ 107 million in 2016. .
[['in millions', '2018', '2017', '2016'], ['industrial packaging', '$ 1061', '$ 836', '$ 832'], ['global cellulose fibers', '183', '188', '174'], ['printing papers', '303', '235', '215'], ['subtotal', '1547', '1259', '1221'], ['corporate and other', '25', '21', '20'], ['capital spending', '$ 1572', '$ 1280', '$ 1241']]
capital expenditures in 2019 are currently expected to be about $ 1.4 billion , or 104% ( 104 % ) of depreciation and amortization , including approximately $ 400 million of strategic investments. .
|
what is the growth observed in the industrial packaging segment , during 2017 and 2018?
|
27%
|
{
"answer": "27%",
"decimal": 0.27,
"type": "percentage"
}
|
it is the value of 2018 divided by the 2017's , then turned into a percentage to represent the increase .
|
the following table sets forth information concerning increases in the total number of our aap stores during the past five years : beginning stores new stores ( 1 ) stores closed ending stores ( 1 ) does not include stores that opened as relocations of previously existing stores within the same general market area or substantial renovations of stores .our store-based information systems , which are designed to improve the efficiency of our operations and enhance customer service , are comprised of a proprietary pos system and electronic parts catalog , or epc , system .information maintained by our pos system is used to formulate pricing , marketing and merchandising strategies and to replenish inventory accurately and rapidly .our pos system is fully integrated with our epc system and enables our store team members to assist our customers in their parts selection and ordering based on the year , make , model and engine type of their vehicles .our centrally-based epc data management system enables us to reduce the time needed to ( i ) exchange data with our vendors and ( ii ) catalog and deliver updated , accurate parts information .our epc system also contains enhanced search engines and user-friendly navigation tools that enhance our team members' ability to look up any needed parts as well as additional products the customer needs to complete an automotive repair project .if a hard-to-find part or accessory is not available at one of our stores , the epc system can determine whether the part is carried and in-stock through our hub or pdq ae networks or can be ordered directly from one of our vendors .available parts and accessories are then ordered electronically from another store , hub , pdq ae or directly from the vendor with immediate confirmation of price , availability and estimated delivery time .we also support our store operations with additional proprietary systems and customer driven labor scheduling capabilities .our store-level inventory management system provides real-time inventory tracking at the store level .with the store-level system , store team members can check the quantity of on-hand inventory for any sku , adjust stock levels for select items for store specific events , automatically process returns and defective merchandise , designate skus for cycle counts and track merchandise transfers .our stores use radio frequency hand-held devices to help ensure the accuracy of our inventory .our standard operating procedure , or sop , system is a web-based , electronic data management system that provides our team members with instant access to any of our standard operating procedures through a comprehensive on-line search function .all of these systems are tightly integrated and provide real-time , comprehensive information to store personnel , resulting in improved customer service levels , team member productivity and in-stock availability .purchasing for virtually all of the merchandise for our stores is handled by our merchandise teams located in three primary locations : 2022 store support center in roanoke , virginia ; 2022 regional office in minneapolis , minnesota ; and 2022 global sourcing office in taipei , taiwan .our roanoke team is primarily responsible for the parts categories and our minnesota team is primarily responsible for accessories , oil and chemicals .our global sourcing team works closely with both teams .in fiscal 2011 , we purchased merchandise from approximately 500 vendors , with no single vendor accounting for more than 9% ( 9 % ) of purchases .our purchasing strategy involves negotiating agreements with most of our vendors to purchase merchandise over a specified period of time along with other terms , including pricing , payment terms and volume .the merchandising team has developed strong vendor relationships in the industry and , in a collaborative effort with our vendor partners , utilizes a category management process where we manage the mix of our product offerings to meet customer demand .we believe this process , which develops a customer-focused business plan for each merchandise category , and our global sourcing operation are critical to improving comparable store sales , gross margin and inventory productivity. .
[['', '2011', '2010', '2009', '2008', '2007'], ['beginning stores', '3369', '3264', '3243', '3153', '2995'], ['new stores ( 1 )', '95', '110', '75', '109', '175'], ['stores closed', '-4 ( 4 )', '-5 ( 5 )', '-54 ( 54 )', '-19 ( 19 )', '-17 ( 17 )'], ['ending stores', '3460', '3369', '3264', '3243', '3153']]
the following table sets forth information concerning increases in the total number of our aap stores during the past five years : beginning stores new stores ( 1 ) stores closed ending stores ( 1 ) does not include stores that opened as relocations of previously existing stores within the same general market area or substantial renovations of stores .our store-based information systems , which are designed to improve the efficiency of our operations and enhance customer service , are comprised of a proprietary pos system and electronic parts catalog , or epc , system .information maintained by our pos system is used to formulate pricing , marketing and merchandising strategies and to replenish inventory accurately and rapidly .our pos system is fully integrated with our epc system and enables our store team members to assist our customers in their parts selection and ordering based on the year , make , model and engine type of their vehicles .our centrally-based epc data management system enables us to reduce the time needed to ( i ) exchange data with our vendors and ( ii ) catalog and deliver updated , accurate parts information .our epc system also contains enhanced search engines and user-friendly navigation tools that enhance our team members' ability to look up any needed parts as well as additional products the customer needs to complete an automotive repair project .if a hard-to-find part or accessory is not available at one of our stores , the epc system can determine whether the part is carried and in-stock through our hub or pdq ae networks or can be ordered directly from one of our vendors .available parts and accessories are then ordered electronically from another store , hub , pdq ae or directly from the vendor with immediate confirmation of price , availability and estimated delivery time .we also support our store operations with additional proprietary systems and customer driven labor scheduling capabilities .our store-level inventory management system provides real-time inventory tracking at the store level .with the store-level system , store team members can check the quantity of on-hand inventory for any sku , adjust stock levels for select items for store specific events , automatically process returns and defective merchandise , designate skus for cycle counts and track merchandise transfers .our stores use radio frequency hand-held devices to help ensure the accuracy of our inventory .our standard operating procedure , or sop , system is a web-based , electronic data management system that provides our team members with instant access to any of our standard operating procedures through a comprehensive on-line search function .all of these systems are tightly integrated and provide real-time , comprehensive information to store personnel , resulting in improved customer service levels , team member productivity and in-stock availability .purchasing for virtually all of the merchandise for our stores is handled by our merchandise teams located in three primary locations : 2022 store support center in roanoke , virginia ; 2022 regional office in minneapolis , minnesota ; and 2022 global sourcing office in taipei , taiwan .our roanoke team is primarily responsible for the parts categories and our minnesota team is primarily responsible for accessories , oil and chemicals .our global sourcing team works closely with both teams .in fiscal 2011 , we purchased merchandise from approximately 500 vendors , with no single vendor accounting for more than 9% ( 9 % ) of purchases .our purchasing strategy involves negotiating agreements with most of our vendors to purchase merchandise over a specified period of time along with other terms , including pricing , payment terms and volume .the merchandising team has developed strong vendor relationships in the industry and , in a collaborative effort with our vendor partners , utilizes a category management process where we manage the mix of our product offerings to meet customer demand .we believe this process , which develops a customer-focused business plan for each merchandise category , and our global sourcing operation are critical to improving comparable store sales , gross margin and inventory productivity. .
|
what was the average annual store closure from 2007 to 2011?
|
19.8 stores per year
|
{
"answer": "19.8 stores per year",
"decimal": 19.8,
"type": "open_ended_answer"
}
|
to find the average amount of closure of stores , one must add all of the closed stores for the years and divide by the amount of years .
|
theme parks segment 2013 operating costs and expenses our theme parks segment operating costs and expenses consist primarily of theme park operations , includ- ing repairs and maintenance and related administrative expenses ; food , beverage and merchandise costs ; labor costs ; and sales and marketing costs .theme parks segment operating costs and expenses increased in 2015 and 2014 primarily due to additional costs at our orlando and hollywood theme parks associated with newer attractions , such as the fast fur- ious 2122 2014 supercharged 2122 studio tour in hollywood in 2015 and the wizarding world of harry potter 2122 2014 diagon alley 2122 in orlando in 2014 and increases in food , beverage and merchandise costs associated with the increases in attendance in both years .operating costs and expenses also increased in 2015 due to $ 89 million of operating costs and expenses attributable to universal studios japan and $ 22 million of transaction costs related to our development of a theme park in china .nbcuniversal headquarters , other and eliminations headquarters and other operating costs and expenses incurred by our nbcuniversal businesses include overhead , personnel costs and costs associated with corporate initiatives .operating costs and expenses increased in 2015 and 2014 primarily due to higher employee-related costs , including severance costs in corporate and other results of operations year ended december 31 ( in millions ) 2015 2014 2013 % ( % ) change 2014 to 2015 % ( % ) change 2013 to 2014 .
[['year ended december 31 ( in millions )', '2015', '2014', '2013', '% ( % ) change 2014 to 2015', '% ( % ) change 2013 to 2014'], ['revenue', '$ 766', '$ 709', '$ 600', '8.0% ( 8.0 % )', '18.1% ( 18.1 % )'], ['operating costs and expenses', '1664', '1487', '1089', '11.9', '36.5'], ['operating loss before depreciation and amortization', '$ -898 ( 898 )', '$ -778 ( 778 )', '$ -489 ( 489 )', '( 15.5 ) % ( % )', '( 59.1 ) % ( % )']]
corporate and other 2013 revenue other revenue primarily relates to comcast spectacor , which owns the philadelphia flyers and the wells fargo center arena in philadelphia , pennsylvania and operates arena management-related businesses .other revenue increased in 2015 and 2014 primarily due to increases in revenue from food and other services associated with new contracts entered into by one of our comcast spectacor businesses .the increase in other revenue in 2014 was also due to an increase in revenue associated with newly acquired businesses .corporate and other 2013 operating costs and expenses corporate and other operating costs and expenses primarily include overhead , personnel costs , the costs of corporate initiatives and branding , and operating costs and expenses associated with comcast spectacor .excluding transaction costs associated with the time warner cable merger and related divestiture trans- actions of $ 178 million and $ 237 million in 2015 and 2014 , respectively , corporate and other operating costs and expenses increased 19% ( 19 % ) in 2015 .this was primarily due to $ 56 million of expenses related to a contract settlement , an increase in expenses related to corporate strategic business initiatives and an increase in operating costs and expenses at comcast spectacor primarily associated with new contracts entered into by one of its businesses .corporate and other operating costs and expenses increased in 2014 primarily due to $ 237 million of transaction-related costs associated with the time warner cable merger and related divest- iture transactions , as well as an increase in operating costs and expenses associated with new contracts entered into by one of our comcast spectacor businesses .comcast 2015 annual report on form 10-k 60 .
|
what was the average revenues from 2013 to 2015
|
691.7
|
{
"answer": "691.7",
"decimal": 691.7,
"type": "float"
}
| |
item 2 .properties .bd 2019s executive offices are located in franklin lakes , new jersey .as of october 31 , 2017 , bd owned or leased 289 facilities throughout the world , comprising approximately 20462405 square feet of manufacturing , warehousing , administrative and research facilities .the u.s .facilities , including those in puerto rico , comprise approximately 7472419 square feet of owned and 2976267 square feet of leased space .the international facilities comprise approximately 7478714 square feet of owned and 2535005 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', '14', '25', '96', '83', '218'], ['owned', '6', '26', '33', '6', '71'], ['total', '20', '51', '129', '89', '289'], ['square feet', '2263694', '4421732', '10838632', '2938347', '20462405']]
( 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 , missouri , 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 , israel , italy , kenya , luxembourg , netherlands , norway , poland , portugal , russia , saudi arabia , south africa , spain , sweden , switzerland , turkey , the united arab emirates and zambia .- greater asia , which includes facilities in australia , bangladesh , china , india , indonesia , japan , malaysia , new zealand , the philippines , singapore , south korea , taiwan , thailand and vietnam .- latin america , which includes facilities in argentina , brazil , chile , colombia , mexico , peru and the dominican republic .- canada .item 3 .legal proceedings .information with respect to certain legal proceedings is included in note 5 to the consolidated financial statements contained in item 8 .financial statements and supplementary data , and is incorporated herein by reference .item 4 .mine safety disclosures .not applicable. .
|
what is the proportion of leased corporate units to owned corporate units?
|
2.3:1
|
{
"answer": "2.3:1",
"decimal": 2.3,
"type": "open_ended_answer"
}
| |
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. .
|
how many shares of common stock were issued during 2007?
|
5080068
|
{
"answer": "5080068",
"decimal": 5080068,
"type": "float"
}
| |
sources of blackrock 2019s operating cash primarily include investment advisory , administration fees and securities lending revenue , performance fees , revenue from technology and risk management services , advisory and other revenue and distribution fees .blackrock uses its cash to pay all operating expense , interest and principal on borrowings , income taxes , dividends on blackrock 2019s capital stock , repurchases of the company 2019s stock , capital expenditures and purchases of co-investments and seed investments .for details of the company 2019s gaap cash flows from operating , investing and financing activities , see the consolidated statements of cash flows contained in part ii , item 8 of this filing .cash flows from operating activities , excluding the impact of consolidated sponsored investment funds , primarily include the receipt of investment advisory and administration fees , securities lending revenue and performance fees offset by the payment of operating expenses incurred in the normal course of business , including year-end incentive compensation accrued for in the prior year .cash outflows from investing activities , excluding the impact of consolidated sponsored investment funds , for 2017 were $ 517 million and primarily reflected $ 497 million of investment purchases , $ 155 million of purchases of property and equipment , $ 73 million related to the first reserve transaction and $ 29 million related to the cachematrix transaction , partially offset by $ 205 million of net proceeds from sales and maturities of certain investments .cash outflows from financing activities , excluding the impact of consolidated sponsored investment funds , for 2017 were $ 3094 million , primarily resulting from $ 1.4 billion of share repurchases , including $ 1.1 billion in open market- transactions and $ 321 million of employee tax withholdings related to employee stock transactions , $ 1.7 billion of cash dividend payments and $ 700 million of repayments of long- term borrowings , partially offset by $ 697 million of proceeds from issuance of long-term borrowings .the company manages its financial condition and funding to maintain appropriate liquidity for the business .liquidity resources at december 31 , 2017 and 2016 were as follows : ( in millions ) december 31 , december 31 , cash and cash equivalents ( 1 ) $ 6894 $ 6091 cash and cash equivalents held by consolidated vres ( 2 ) ( 63 ) ( 53 ) .
[['( in millions )', 'december 31 2017', 'december 31 2016'], ['cash and cash equivalents ( 1 )', '$ 6894', '$ 6091'], ['cash and cash equivalents held by consolidated vres ( 2 )', '-63 ( 63 )', '-53 ( 53 )'], ['subtotal', '6831', '6038'], ['credit facility 2014 undrawn', '4000', '4000'], ['total liquidity resources ( 3 )', '$ 10831', '$ 10038']]
total liquidity resources ( 3 ) $ 10831 $ 10038 ( 1 ) the percentage of cash and cash equivalents held by the company 2019s u.s .subsidiaries was approximately 40% ( 40 % ) and 50% ( 50 % ) at december 31 , 2017 and 2016 , respectively .see net capital requirements herein for more information on net capital requirements in certain regulated subsidiaries .( 2 ) the company cannot readily access such cash to use in its operating activities .( 3 ) amounts do not reflect a reduction for year-end incentive compensation accruals of approximately $ 1.5 billion and $ 1.3 billion for 2017 and 2016 , respectively , which are paid in the first quarter of the following year .total liquidity resources increased $ 793 million during 2017 , primarily reflecting cash flows from operating activities , partially offset by cash payments of 2016 year-end incentive awards , share repurchases of $ 1.4 billion and cash dividend payments of $ 1.7 billion .a significant portion of the company 2019s $ 3154 million of total investments , as adjusted , is illiquid in nature and , as such , cannot be readily convertible to cash .share repurchases .the company repurchased 2.6 million common shares in open market transactions under the share repurchase program for approximately $ 1.1 billion during 2017 .at december 31 , 2017 , there were 6.4 million shares still authorized to be repurchased .net capital requirements .the company is required to maintain net capital in certain regulated subsidiaries within a number of jurisdictions , which is partially maintained by retaining cash and cash equivalent investments in those subsidiaries or jurisdictions .as a result , such subsidiaries of the company may be restricted in their ability to transfer cash between different jurisdictions and to their parents .additionally , transfers of cash between international jurisdictions may have adverse tax consequences that could discourage such transfers .blackrock institutional trust company , n.a .( 201cbtc 201d ) is chartered as a national bank that does not accept client deposits and whose powers are limited to trust and other fiduciary activities .btc provides investment management services , including investment advisory and securities lending agency services , to institutional clients .btc is subject to regulatory capital and liquid asset requirements administered by the office of the comptroller of the currency .at december 31 , 2017 and 2016 , the company was required to maintain approximately $ 1.8 billion and $ 1.4 billion , respectively , in net capital in certain regulated subsidiaries , including btc , entities regulated by the financial conduct authority and prudential regulation authority in the united kingdom , and the company 2019s broker-dealers .the company was in compliance with all applicable regulatory net capital requirements .undistributed earnings of foreign subsidiaries .as a result of the 2017 tax act and the one-time mandatory deemed repatriation tax on untaxed accumulated foreign earnings , a provisional amount of u.s .income taxes was provided on the undistributed foreign earnings .the financial statement basis in excess of tax basis of its foreign subsidiaries remains indefinitely reinvested in foreign operations .the company will continue to evaluate its capital management plans throughout 2018 .short-term borrowings 2017 revolving credit facility .the company 2019s credit facility has an aggregate commitment amount of $ 4.0 billion and was amended in april 2017 to extend the maturity date to april 2022 ( the 201c2017 credit facility 201d ) .the 2017 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 2017 credit facility to an aggregate principal amount not to exceed $ 5.0 billion .interest on borrowings outstanding accrues at a rate based on the applicable london interbank offered rate plus a spread .the 2017 credit facility requires the company .
|
what is the growth rate in the balance of total liquidity resources in 2017?
|
7.9%
|
{
"answer": "7.9%",
"decimal": 0.079,
"type": "percentage"
}
| |
52 2018 ppg annual report and 10-k 1 .summary of significant accounting policies principles of consolidation the accompanying consolidated financial statements include the accounts of ppg industries , inc .( 201cppg 201d or the 201ccompany 201d ) and all subsidiaries , both u.s .and non-u.s. , that it controls .ppg owns more than 50% ( 50 % ) of the voting stock of most of the subsidiaries that it controls .for those consolidated subsidiaries in which the company 2019s ownership is less than 100% ( 100 % ) , the outside shareholders 2019 interests are shown as noncontrolling interests .investments in companies in which ppg owns 20% ( 20 % ) to 50% ( 50 % ) of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting .as a result , ppg 2019s share of income or losses from such equity affiliates is included in the consolidated statement of income and ppg 2019s share of these companies 2019 shareholders 2019 equity is included in investments on the consolidated balance sheet .transactions between ppg and its subsidiaries are eliminated in consolidation .use of estimates in the preparation of financial statements the preparation of financial statements in conformity with u.s .generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported amounts of income and expenses during the reporting period .such estimates also include the fair value of assets acquired and liabilities assumed resulting from the allocation of the purchase price related to business combinations consummated .actual outcomes could differ from those estimates .revenue recognition revenue is recognized as performance obligations with the customer are satisfied , at an amount that is determined to be collectible .for the sale of products , this generally occurs at the point in time when control of the company 2019s products transfers to the customer based on the agreed upon shipping terms .shipping and handling costs amounts billed to customers for shipping and handling are reported in net sales in the consolidated statement of income .shipping and handling costs incurred by the company for the delivery of goods to customers are included in cost of sales , exclusive of depreciation and amortization in the consolidated statement of income .selling , general and administrative costs amounts presented in selling , general and administrative in the consolidated statement of income are comprised of selling , customer service , distribution and advertising costs , as well as the costs of providing corporate-wide functional support in such areas as finance , law , human resources and planning .distribution costs pertain to the movement and storage of finished goods inventory at company-owned and leased warehouses and other distribution facilities .advertising costs advertising costs are expensed as incurred and totaled $ 280 million , $ 313 million and $ 322 million in 2018 , 2017 and 2016 , respectively .research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred. .
[['( $ in millions )', '2018', '2017', '2016'], ['research and development 2013 total', '$ 464', '$ 472', '$ 473'], ['less depreciation on research facilities', '23', '21', '20'], ['research and development net', '$ 441', '$ 451', '$ 453']]
legal costs legal costs , primarily include costs associated with acquisition and divestiture transactions , general litigation , environmental regulation compliance , patent and trademark protection and other general corporate purposes , are charged to expense as incurred .income taxes income taxes are accounted for under the asset and liability method .deferred tax assets and liabilities are recognized for the future tax consequences attributable to operating losses and tax credit carryforwards as well as differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases .the effect on deferred notes to the consolidated financial statements .
|
what was the change in research and development net in millions from 2017 to 2018?
|
-10
|
{
"answer": "-10",
"decimal": -10,
"type": "float"
}
| |
bhge 2017 form 10-k | 27 the short term .we do , however , view the long term economics of the lng industry as positive given our outlook for supply and demand .2022 refinery , petrochemical and industrial projects : in refining , we believe large , complex refineries should gain advantage in a more competitive , oversupplied landscape in 2018 as the industry globalizes and refiners position to meet local demand and secure export potential .in petrochemicals , we continue to see healthy demand and cost-advantaged supply driving projects forward in 2018 .the industrial market continues to grow as outdated infrastructure is replaced , policy changes come into effect and power is decentralized .we continue to see growing demand across these markets in 2018 .we have other segments in our portfolio that are more correlated with different industrial metrics such as our digital solutions business .overall , we believe our portfolio is uniquely positioned to compete across the value chain , and deliver unique solutions for our customers .we remain optimistic about the long-term economics of the industry , but are continuing to operate with flexibility given our expectations for volatility and changing assumptions in the near term .in 2016 , solar and wind net additions exceeded coal and gas for the first time and it continued throughout 2017 .governments may change or may not continue incentives for renewable energy additions .in the long term , renewables' cost decline may accelerate to compete with new-built fossil capacity , however , we do not anticipate any significant impacts to our business in the foreseeable future .despite the near-term volatility , the long-term outlook for our industry remains strong .we believe the world 2019s demand for energy will continue to rise , and the supply of energy will continue to increase in complexity , requiring greater service intensity and more advanced technology from oilfield service companies .as such , we remain focused on delivering innovative cost-efficient solutions that deliver step changes in operating and economic performance for our customers .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 , 2017 , 2016 and 2015 , and should be read in conjunction with the consolidated and combined financial statements and related notes of the company .amounts reported in millions in graphs within this report are computed based on the amounts in hundreds .as a result , the sum of the components reported in millions may not equal the total amount reported in millions due to rounding .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. .
[['', '2017', '2016', '2015'], ['brent oil prices ( $ /bbl ) ( 1 )', '$ 54.12', '$ 43.64', '$ 52.32'], ['wti oil prices ( $ /bbl ) ( 2 )', '50.80', '43.29', '48.66'], ['natural gas prices ( $ /mmbtu ) ( 3 )', '2.99', '2.52', '2.62']]
brent oil prices ( $ /bbl ) ( 1 ) $ 54.12 $ 43.64 $ 52.32 wti oil prices ( $ /bbl ) ( 2 ) 50.80 43.29 48.66 natural gas prices ( $ /mmbtu ) ( 3 ) 2.99 2.52 2.62 ( 1 ) energy information administration ( eia ) europe brent spot price per barrel .
|
what is the growth rate in wti oil prices from 2016 to 2017?
|
17.3%
|
{
"answer": "17.3%",
"decimal": 0.17300000000000001,
"type": "percentage"
}
| |
increase in dividends paid .free cash flow is defined as cash provided by operating activities less cash used in investing activities and dividends paid .free cash flow is not considered a financial measure under accounting principles generally accepted in the u.s .( gaap ) by sec regulation g and item 10 of sec regulation s-k and may not be defined and calculated by other companies in the same manner .we believe free cash flow is important to management and investors in evaluating our financial performance and measures our ability to generate cash without additional external financings .free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities .the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : millions 2013 2012 2011 .
[['millions', '2013', '2012', '2011'], ['cash provided by operating activities', '$ 6823', '$ 6161', '$ 5873'], ['cash used in investing activities', '-3405 ( 3405 )', '-3633 ( 3633 )', '-3119 ( 3119 )'], ['dividends paid', '-1333 ( 1333 )', '-1146 ( 1146 )', '-837 ( 837 )'], ['free cash flow', '$ 2085', '$ 1382', '$ 1917']]
2014 outlook f0b7 safety 2013 operating a safe railroad benefits our employees , our customers , our shareholders , and the communities we serve .we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , quality control , training and employee engagement , and targeted capital investments .we will continue using and expanding the deployment of total safety culture and courage to care throughout our operations , which allows us to identify and implement best practices for employee and operational safety .derailment prevention and the reduction of grade crossing incidents are also critical aspects of our safety programs .we will continue our efforts to increase detection of rail defects ; improve or close crossings ; and educate the public and law enforcement agencies about crossing safety through a combination of our own programs ( including risk assessment strategies ) , various industry programs and local community activities across our network .f0b7 network operations 2013 we believe the railroad is capable of handling growing volumes while providing high levels of customer service .our track structure is in excellent condition , and certain sections of our network have surplus line and terminal capacity .we are in a solid resource position , with sufficient supplies of locomotives , freight cars and crews to support growth .f0b7 fuel prices 2013 uncertainty about the economy makes projections of fuel prices difficult .we again could see volatile fuel prices during the year , as they are sensitive to global and u.s .domestic demand , refining capacity , geopolitical events , weather conditions and other factors .to reduce the impact of fuel price on earnings , we will continue seeking cost recovery from our customers through our fuel surcharge programs and expanding our fuel conservation efforts .f0b7 capital plan 2013 in 2014 , we plan to make total capital investments of approximately $ 3.9 billion , including expenditures for positive train control ( ptc ) , which may be revised if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments .( see further discussion in this item 7 under liquidity and capital resources 2013 capital plan. ) f0b7 positive train control 2013 in response to a legislative mandate to implement ptc by the end of 2015 , we have invested $ 1.2 billion in capital expenditures and plan to spend an additional $ 450 million during 2014 on developing and deploying ptc .we currently estimate that ptc , in accordance with implementing rules issued by the federal rail administration ( fra ) , will cost us approximately $ 2 billion by the end of the project .this includes costs for installing the new system along our tracks , upgrading locomotives to work with the new system , and adding digital data communication equipment to integrate the various components of the system and achieve interoperability for the industry .although it is unlikely that the rail industry will meet the current mandatory 2015 deadline ( as the fra indicated in its 2012 report to congress ) , we are making a good faith effort to do so and we are working closely with regulators as we implement this new technology. .
|
what percentage of cash provided by operating activities were dividends paid in 2013?
|
20%
|
{
"answer": "20%",
"decimal": 0.2,
"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. .
|
what was the change in millions in other income from 2014 to 2015?
|
75
|
{
"answer": "75",
"decimal": 75,
"type": "float"
}
| |
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 2014 equity aum of $ 2.451 trillion increased by $ 133.4 billion , or 6% ( 6 % ) , from the end of 2013 due to net new business of $ 52.4 billion and net market appreciation and foreign exchange movements of $ 81.0 billion .net inflows were driven by $ 59.6 billion and $ 17.7 billion into ishares and non-etf index accounts , respectively .index inflows were offset by active net outflows of $ 24.9 billion , with outflows of $ 18.0 billion and $ 6.9 billion from fundamental and scientific active equity products , respectively .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 similar 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 2014 at $ 1.394 trillion , increasing $ 151.5 billion , or 12% ( 12 % ) , from december 31 , 2013 .the increase in aum reflected $ 96.4 billion in net new business and $ 55.1 billion in net market appreciation and foreign exchange movements .in 2014 , net new business was diversified across fixed income offerings , with strong flows into our unconstrained , total return and high yield products .flagship funds in these product areas include our unconstrained strategic income opportunities and fixed income global opportunities funds , with net inflows of $ 13.3 billion and $ 4.2 billion , respectively ; our total return fund with net inflows of $ 2.1 billion ; and our high yield bond fund with net inflows of $ 2.1 billion .fixed income net inflows were positive across investment styles , with ishares , non- etf index , and active net inflows of $ 40.0 billion , $ 28.7 billion and $ 27.7 billion , respectively .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 , 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 .component changes in multi-asset class aum for 2014 are presented below .( in millions ) december 31 , 2013 net inflows ( outflows ) market change fx impact december 31 , 2014 .
[['( in millions )', 'december 31 2013', 'net inflows ( outflows )', 'market change', 'fx impact', 'december 31 2014'], ['asset allocation and balanced', '$ 169604', '$ 18387', '$ -827 ( 827 )', '$ -4132 ( 4132 )', '$ 183032'], ['target date/risk', '111408', '10992', '7083', '-872 ( 872 )', '128611'], ['fiduciary', '60202', '-474 ( 474 )', '14788', '-8322 ( 8322 )', '66194'], ['multi-asset', '$ 341214', '$ 28905', '$ 21044', '$ -13326 ( 13326 )', '$ 377837']]
flows reflected ongoing institutional demand for our solutions-based advice with $ 15.1 billion , or 52% ( 52 % ) , of net inflows coming from institutional clients .defined contribution plans of institutional clients remained a significant driver of flows , and contributed $ 12.8 billion to institutional multi- asset class net new business in 2014 , primarily into target date and target risk product offerings .retail net inflows of $ 13.4 billion were driven by particular demand for our multi- asset income fund , which raised $ 6.3 billion in 2014 .the company 2019s multi-asset strategies include the following : 2022 asset allocation and balanced products represented 48% ( 48 % ) of multi-asset class aum at year-end , with growth in aum driven by net new business of $ 18.4 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 .2022 target date and target risk products grew 10% ( 10 % ) organically in 2014 .institutional investors represented 90% ( 90 % ) of target date and target risk aum , with defined contribution plans accounting for over 80% ( 80 % ) of aum .the remaining 10% ( 10 % ) of target date and target risk aum consisted of retail client investments .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 planmanagement .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 multi-asset is related to target date/risk as of december 31 , 2014?
|
48.4%
|
{
"answer": "48.4%",
"decimal": 0.484,
"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. .
|
based on the review of the keystone acquisition expenses what was the percent of the total reserves established associated with severance related costs
|
77.2%
|
{
"answer": "77.2%",
"decimal": 0.772,
"type": "percentage"
}
| |
stock-based compensation 2013 we have several stock-based compensation plans under which employees and non-employee directors receive stock options , nonvested retention shares , and nonvested stock units .we refer to the nonvested shares and stock units collectively as 201cretention awards 201d .we issue treasury shares to cover option exercises and stock unit vestings , while new shares are issued when retention shares vest .we adopted fasb statement no .123 ( r ) , share-based payment ( fas 123 ( r ) ) , on january 1 , 2006 .fas 123 ( r ) requires us to measure and recognize compensation expense for all stock-based awards made to employees and directors , including stock options .compensation expense is based on the calculated fair value of the awards as measured at the grant date and is expensed ratably over the service period of the awards ( generally the vesting period ) .the fair value of retention awards is the stock price on the date of grant , while the fair value of stock options is determined by using the black-scholes option pricing model .we elected to use the modified prospective transition method as permitted by fas 123 ( r ) and did not restate financial results for prior periods .we did not make an adjustment for the cumulative effect of these estimated forfeitures , as the impact was not material .as a result of the adoption of fas 123 ( r ) , we recognized expense for stock options in 2006 , in addition to retention awards , which were expensed prior to 2006 .stock-based compensation expense for the year ended december 31 , 2006 was $ 22 million , after tax , or $ 0.08 per basic and diluted share .this includes $ 9 million for stock options and $ 13 million for retention awards for 2006 .before taxes , stock-based compensation expense included $ 14 million for stock options and $ 21 million for retention awards for 2006 .we recorded $ 29 million of excess tax benefits as an inflow of financing activities in the consolidated statement of cash flows for the year ended december 31 , 2006 .prior to the adoption of fas 123 ( r ) , we applied the recognition and measurement principles of accounting principles board opinion no .25 , accounting for stock issued to employees , and related interpretations .no stock- based employee compensation expense related to stock option grants was reflected in net income , as all options granted under those plans had a grant price equal to the market value of our common stock on the date of grant .stock-based compensation expense related to retention shares , stock units , and other incentive plans was reflected in net income .the following table details the effect on net income and earnings per share had compensation expense for all of our stock-based awards , including stock options , been recorded in the years ended december 31 , 2005 and 2004 based on the fair value method under fasb statement no .123 , accounting for stock-based compensation .pro forma stock-based compensation expense year ended december 31 , millions of dollars , except per share amounts 2005 2004 .
[['pro forma stock-based compensation expense', 'pro forma stock-based compensation expense', ''], ['millions of dollars except per share amounts', '2005', '2004'], ['net income as reported', '$ 1026', '$ 604'], ['stock-based employee compensation expense reported in net income net of tax', '13', '13'], ['total stock-based employee compensation expense determined under fair value 2013based method for allawards net of tax [a]', '-50 ( 50 )', '-35 ( 35 )'], ['pro forma net income', '$ 989', '$ 582'], ['earnings per share 2013 basic as reported', '$ 3.89', '$ 2.33'], ['earnings per share 2013 basic pro forma', '$ 3.75', '$ 2.25'], ['earnings per share 2013 diluted as reported', '$ 3.85', '$ 2.30'], ['earnings per share 2013 diluted pro forma', '$ 3.71', '$ 2.22']]
[a] stock options for executives granted in 2003 and 2002 included a reload feature .this reload feature allowed executives to exercise their options using shares of union pacific corporation common stock that they already owned and obtain a new grant of options in the amount of the shares used for exercise plus any shares withheld for tax purposes .the reload feature of these option grants could only be exercised if the .
|
what was the percentage difference of earnings per share 2013 basic pro forma compared to earnings per share 2013 diluted pro forma in 2005?
|
1%
|
{
"answer": "1%",
"decimal": 0.01,
"type": "percentage"
}
| |
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 $ 3.6 billion as of december 31 , 2012 .16 .leases we lease certain locomotives , freight cars , and other property .the consolidated statements of financial position as of december 31 , 2012 and 2011 included $ 2467 million , net of $ 966 million of accumulated depreciation , and $ 2458 million , net of $ 915 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 , 2012 , were as follows : millions operating leases capital leases .
[['millions', 'operatingleases', 'capitalleases'], ['2013', '$ 525', '$ 282'], ['2014', '466', '265'], ['2015', '410', '253'], ['2016', '375', '232'], ['2017', '339', '243'], ['later years', '2126', '1166'], ['total minimum leasepayments', '$ 4241', '$ 2441'], ['amount representing interest', 'n/a', '-593 ( 593 )'], ['present value of minimum leasepayments', 'n/a', '$ 1848']]
approximately 94% ( 94 % ) of capital lease payments relate to locomotives .rent expense for operating leases with terms exceeding one month was $ 631 million in 2012 , $ 637 million in 2011 , and $ 624 million in 2010 .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 .17 .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 ; however , to the extent possible , where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated , we have recorded a liability .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 .
|
what percentage of total total minimum lease payments are capital leases?
|
37%
|
{
"answer": "37%",
"decimal": 0.37,
"type": "percentage"
}
| |
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 $ 3.0 billion as of december 31 , 2014 .17 .leases we lease certain locomotives , freight cars , and other property .the consolidated statements of financial position as of december 31 , 2014 and 2013 included $ 2454 million , net of $ 1210 million of accumulated depreciation , and $ 2486 million , net of $ 1092 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 , 2014 , were as follows : millions operating leases capital leases .
[['millions', 'operatingleases', 'capitalleases'], ['2015', '$ 508', '$ 253'], ['2016', '484', '249'], ['2017', '429', '246'], ['2018', '356', '224'], ['2019', '323', '210'], ['later years', '1625', '745'], ['total minimum leasepayments', '$ 3725', '$ 1927'], ['amount representing interest', 'n/a', '-407 ( 407 )'], ['present value of minimum leasepayments', 'n/a', '$ 1520']]
approximately 95% ( 95 % ) of capital lease payments relate to locomotives .rent expense for operating leases with terms exceeding one month was $ 593 million in 2014 , $ 618 million in 2013 , and $ 631 million in 2012 .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 ; however , to the extent possible , where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated , we have recorded a liability .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 93% ( 93 % ) of the recorded liability is related to asserted claims and approximately 7% ( 7 % ) is related to unasserted claims at december 31 , 2014 .because of the uncertainty .
|
what percentage of total minimum lease payments are operating leases?
|
66%
|
{
"answer": "66%",
"decimal": 0.66,
"type": "percentage"
}
| |
amount of commitment expiration per period other commercial commitments after millions total 2012 2013 2014 2015 2016 2016 .
[['other commercial commitmentsmillions', 'total', '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 2015', 'amount of commitment expiration per period 2016', 'amount of commitment expiration per period after 2016'], ['credit facilities [a]', '$ 1800', '$ -', '$ -', '$ -', '$ 1800', '$ -', '$ -'], ['receivables securitization facility [b]', '600', '600', '-', '-', '-', '-', '-'], ['guarantees [c]', '325', '18', '8', '214', '12', '13', '60'], ['standby letters of credit [d]', '24', '24', '-', '-', '-', '-', '-'], ['total commercialcommitments', '$ 2749', '$ 642', '$ 8', '$ 214', '$ 1812', '$ 13', '$ 60']]
[a] none of the credit facility was used as of december 31 , 2011 .[b] $ 100 million of the receivables securitization facility was utilized at december 31 , 2011 , which is accounted for as debt .the full program matures in august 2012 .[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 , 2011 .off-balance sheet arrangements guarantees 2013 at december 31 , 2011 , we were contingently liable for $ 325 million in guarantees .we have recorded a liability of $ 3 million for the fair value of these obligations as of december 31 , 2011 and 2010 .we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations .the final guarantee expires in 2022 .we are not aware of any existing event of default that would require us to satisfy these guarantees .we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity .other matters labor agreements 2013 in january 2010 , the nation 2019s largest freight railroads began the current round of negotiations with the labor unions .generally , contract negotiations with the various unions take place over an extended period of time .this round of negotiations was no exception .in september 2011 , the rail industry reached agreements with the united transportation union .on november 5 , 2011 , a presidential emergency board ( peb ) appointed by president obama issued recommendations to resolve the disputes between the u.s .railroads and 11 unions that had not yet reached agreements .since then , ten unions reached agreements with the railroads , all of them generally patterned on the recommendations of the peb , and the unions subsequently ratified these agreements .the railroad industry reached a tentative agreement with the brotherhood of maintenance of way employees ( bmwe ) on february 2 , 2012 , eliminating the immediate threat of a national rail strike .the bmwe now will commence ratification of this tentative agreement by its members .inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies .as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts .derivative financial instruments 2013 we may use derivative financial instruments in limited instances 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 price movements. .
|
what percent of total commercial commitments are receivables securitization facility?
|
22%
|
{
"answer": "22%",
"decimal": 0.22,
"type": "percentage"
}
| |
were more than offset by higher raw material and energy costs ( $ 312 million ) , increased market related downtime ( $ 187 million ) and other items ( $ 30 million ) .com- pared with 2003 , higher 2005 earnings in the brazilian papers , u.s .coated papers and u.s .market pulp busi- nesses were offset by lower earnings in the u.s .un- coated papers and the european papers businesses .the printing papers segment took 995000 tons of downtime in 2005 , including 540000 tons of lack-of-order down- time to align production with customer demand .this compared with 525000 tons of downtime in 2004 , of which 65000 tons related to lack-of-orders .printing papers in millions 2005 2004 2003 .
[['in millions', '2005', '2004', '2003'], ['sales', '$ 7860', '$ 7670', '$ 7280'], ['operating profit', '$ 552', '$ 581', '$ 464']]
uncoated papers sales totaled $ 4.8 billion in 2005 compared with $ 5.0 billion in 2004 and 2003 .sales price realizations in the united states averaged 4.4% ( 4.4 % ) higher in 2005 than in 2004 , and 4.6% ( 4.6 % ) higher than 2003 .favorable pricing momentum which began in 2004 carried over into the beginning of 2005 .demand , however , began to weaken across all grades as the year progressed , resulting in lower price realizations in the second and third quarters .however , prices stabilized as the year ended .total shipments for the year were 7.2% ( 7.2 % ) lower than in 2004 and 4.2% ( 4.2 % ) lower than in 2003 .to continue matching our productive capacity with customer demand , the business announced the perma- nent closure of three uncoated freesheet machines and took significant lack-of-order downtime during the period .demand showed some improvement toward the end of the year , bolstered by the introduction our new line of vision innovation paper products ( vip technologiestm ) , with improved brightness and white- ness .mill operations were favorable compared to last year , and the rebuild of the no .1 machine at the east- over , south carolina mill was completed as planned in the fourth quarter .however , the favorable impacts of improved mill operations and lower overhead costs were more than offset by record high input costs for energy and wood and higher transportation costs compared to 2004 .the earnings decline in 2005 compared with 2003 was principally due to lower shipments , higher down- time and increased costs for wood , energy and trans- portation , partially offset by lower overhead costs and favorable mill operations .average sales price realizations for our european operations remained relatively stable during 2005 , but averaged 1% ( 1 % ) lower than in 2004 , and 6% ( 6 % ) below 2003 levels .sales volumes rose slightly , up 1% ( 1 % ) in 2005 com- pared with 2004 and 5% ( 5 % ) compared to 2003 .earnings were lower than in 2004 , reflecting higher wood and energy costs and a compression of margins due to un- favorable foreign currency exchange movements .earn- ings were also adversely affected by downtime related to the rebuild of three paper machines during the year .coated papers sales in the united states were $ 1.6 bil- lion in 2005 , compared with $ 1.4 billion in 2004 and $ 1.3 billion in 2003 .the business reported an operating profit in 2005 versus a small operating loss in 2004 .the earnings improvement was driven by higher average sales prices and improved mill operations .price realiza- tions in 2005 averaged 13% ( 13 % ) higher than 2004 .higher input costs for raw materials and energy partially offset the benefits from improved prices and operations .sales volumes were about 1% ( 1 % ) lower in 2005 versus 2004 .market pulp sales from our u.s .and european facilities totaled $ 757 million in 2005 compared with $ 661 mil- lion and $ 571 million in 2004 and 2003 , respectively .operating profits in 2005 were up 86% ( 86 % ) from 2004 .an operating loss had been reported in 2003 .higher aver- age prices and sales volumes , lower overhead costs and improved mill operations in 2005 more than offset in- creases in raw material , energy and chemical costs .u.s .softwood and hardwood pulp prices improved through the 2005 first and second quarters , then declined during the third quarter , but recovered somewhat toward year end .softwood pulp prices ended the year about 2% ( 2 % ) lower than 2004 , but were 15% ( 15 % ) higher than 2003 , while hardwood pulp prices ended the year about 15% ( 15 % ) higher than 2004 and 10% ( 10 % ) higher than 2003 .u.s .pulp sales volumes were 12% ( 12 % ) higher than in 2004 and 19% ( 19 % ) higher than in 2003 , reflecting increased global demand .euro- pean pulp volumes increased 15% ( 15 % ) and 2% ( 2 % ) compared with 2004 and 2003 , respectively , while average sales prices increased 4% ( 4 % ) and 11% ( 11 % ) compared with 2004 and 2003 , respectively .brazilian paper sales were $ 684 million in 2005 com- pared with $ 592 million in 2004 and $ 540 million in 2003 .sales volumes for uncoated freesheet paper , coated paper and wood chips were down from 2004 , but average price realizations improved for exported un- coated freesheet and coated groundwood paper grades .favorable currency translation , as yearly average real exchange rates versus the u.s .dollar were 17% ( 17 % ) higher in 2005 than in 2004 , positively impacted reported sales in u.s .dollars .average sales prices for domestic un- coated paper declined 4% ( 4 % ) in local currency versus 2004 , while domestic coated paper prices were down 3% ( 3 % ) .operating profits in 2005 were down 9% ( 9 % ) from 2004 , but were up 2% ( 2 % ) from 2003 .earnings in 2005 were neg- atively impacted by a weaker product and geographic sales mix for both uncoated and coated papers , reflecting increased competition and softer demand , particularly in the printing , commercial and editorial market segments. .
|
what was the percent of the increase in the sales of uncoated papers from 2004 to 2005 in billions
|
0.2
|
{
"answer": "0.2",
"decimal": 0.2,
"type": "float"
}
| |
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 mathematical range for average train speed ( mph ) for 2008-2010?
|
3.8
|
{
"answer": "3.8",
"decimal": 3.8,
"type": "float"
}
| |
table of contents valero energy corporation and subsidiaries notes to consolidated financial statements ( continued ) commodity price risk we are exposed to market risks related to the volatility in the price of crude oil , refined products ( primarily gasoline and distillate ) , grain ( primarily corn ) , and natural gas used in our operations .to reduce the impact of price volatility on our results of operations and cash flows , we use commodity derivative instruments , including futures , swaps , and options .we use the futures markets for the available liquidity , which provides greater flexibility in transacting our hedging and trading operations .we use swaps primarily to manage our price exposure .our positions in commodity derivative instruments are monitored and managed on a daily basis by a risk control group to ensure compliance with our stated risk management policy that has been approved by our board of directors .for risk management purposes , we use fair value hedges , cash flow hedges , and economic hedges .in addition to the use of derivative instruments to manage commodity price risk , we also enter into certain commodity derivative instruments for trading purposes .our objective for entering into each type of hedge or trading derivative is described below .fair value hedges fair value hedges are used to hedge price volatility in certain refining inventories and firm commitments to purchase inventories .the level of activity for our fair value hedges is based on the level of our operating inventories , and generally represents the amount by which our inventories differ from our previous year-end lifo inventory levels .as of december 31 , 2011 , we had the following outstanding commodity derivative instruments that were entered into to hedge crude oil and refined product inventories and commodity derivative instruments related to the physical purchase of crude oil and refined products at a fixed price .the information presents the notional volume of outstanding contracts by type of instrument and year of maturity ( volumes in thousands of barrels ) .notional contract volumes by year of maturity derivative instrument 2012 .
[['derivative instrument', 'notional contract volumes by year of maturity 2012'], ['crude oil and refined products:', ''], ['futures 2013 long', '15398'], ['futures 2013 short', '35708'], ['physical contracts 2013 long', '20310']]
.
|
how many total derivative instruments matured by 2012?
|
71416
|
{
"answer": "71416",
"decimal": 71416,
"type": "float"
}
| |
the following table presents a rollforward of the severance and other costs for approximately 1650 employees included in the 2010 restructuring charg- in millions severance and other .
[['in millions', 'severance and other'], ['opening balance ( recorded first quarter 2010 )', '$ 20'], ['additions and adjustments', '26'], ['cash charges in 2010', '-32 ( 32 )'], ['cash charges in 2011', '-8 ( 8 )'], ['cash charges in 2012', '-4 ( 4 )'], ['balance december 31 2012', '$ 2']]
as of december 31 , 2012 , 1638 employees had left the company under these programs .cellulosic bio-fuel tax credit in a memorandum dated june 28 , 2010 , the irs concluded that black liquor would qualify for the cellulosic bio-fuel tax credit of $ 1.01 per gallon pro- duced in 2009 .on october 15 , 2010 , the irs ruled that companies may qualify in the same year for the $ 0.50 per gallon alternative fuel mixture credit and the $ 1.01 cellulosic bio-fuel tax credit for 2009 , but not for the same gallons of fuel produced and con- sumed .to the extent a taxpayer changes its position and uses the $ 1.01 credit , it must re-pay the refunds they received as alternative fuel mixture credits attributable to the gallons converted to the cellulosic bio-fuel credit .the repayment of this refund must include interest .one important difference between the two credits is that the $ 1.01 credit must be credited against a company 2019s federal tax liability , and the credit may be carried forward through 2015 .in contrast , the $ 0.50 credit is refundable in cash .also , the cellulosic bio- fuel credit is required to be included in federal tax- able income .the company filed an application with the irs on november 18 , 2010 , to receive the required registra- tion code to become a registered cellulosic bio-fuel producer .the company received its registration code on february 28 , 2011 .the company has evaluated the optimal use of the two credits with respect to gallons produced in 2009 .considerations include uncertainty around future federal taxable income , the taxability of the alter- native fuel mixture credit , future liquidity and uses of cash such as , but not limited to , acquisitions , debt repayments and voluntary pension contributions versus repayment of alternative fuel mixture credits with interest .at the present time , the company does not intend to convert any gallons under the alter- native fuel mixture credit to gallons under the cellulosic bio-fuel credit .on july 19 , 2011 the com- pany filed an amended 2009 tax return claiming alternative fuel mixture tax credits as non-taxable income .if that amended position is not upheld , the company will re-evaluate its position with regard to alternative fuel mixture gallons produced in 2009 .during 2009 , the company produced 64 million gal- lons of black liquor that were not eligible for the alternative fuel mixture credit .the company claimed these gallons for the cellulosic bio-fuel credit by amending the company 2019s 2009 tax return .the impact of this amendment was included in the company 2019s 2010 fourth quarter income tax provision ( benefit ) , resulting in a $ 40 million net credit to tax expense .temple-inland , inc .also recognized an income tax benefit of $ 83 million in 2010 related to cellulosic bio-fuel credits .as is the case with other tax credits , taxpayer claims are subject to possible future review by the irs which has the authority to propose adjustments to the amounts claimed , or credits received .note 5 acquisitions and joint ventures acquisitions 2013 : on january 3 , 2013 , international paper completed the acquisition ( effective date of acquis- ition on january 1 , 2013 ) of the shares of its joint venture partner , sabanci holding , in the turkish corrugated packaging company , olmuksa interna- tional paper sabanci ambalaj sanayi ve ticaret a.s .( olmuksa ) , for a purchase price of $ 56 million .the acquired shares represent 43.7% ( 43.7 % ) of olmuksa 2019s shares , and prior to this acquisition , international paper already held a 43.7% ( 43.7 % ) equity interest in olmuk- sa .thus , international paper now owns 87.4% ( 87.4 % ) of olmuksa 2019s outstanding and issued shares .the company has not completed the valuation of assets acquired and liabilities assumed ; however , the company anticipates providing a preliminary pur- chase price allocation in its 2013 first quarter form 10-q filing .because the transaction resulted in international paper becoming the majority shareholder , owning 87.4% ( 87.4 % ) of olmuksa 2019s shares , its completion triggered a mandatory call for tender of the remaining public shares .also as a result of international paper taking majority control of the entity , olmuksa 2019s financial results will be consolidated with our industrial pack- aging segment beginning with the effective date international paper obtained majority control of the entity on january 1 , 2013 .pro forma information related to the acquisition of olmuksa has not been included as it does not have a material effect on the company 2019s consolidated results of operations .2012 : on february 13 , 2012 , international paper com- pleted the acquisition of temple-inland , inc .( temple- inland ) .international paper acquired all of the outstanding common stock of temple-inland for $ 32.00 per share in cash , totaling approximately $ 3.7 billion .
|
based on the review of the table what was the net change in the restructuring charg- in millions severance and other in millions
|
-18
|
{
"answer": "-18",
"decimal": -18,
"type": "float"
}
| |
the following table presents the estimated future amortization of deferred stock compensation reported in both cost of revenue and operating expenses : fiscal year ( in thousands ) .
[['fiscal year', '( in thousands )'], ['2004', '$ 3677'], ['2005', '2403'], ['2006', '840'], ['2007', '250'], ['total estimated future amortization of deferred stock compensation', '$ 7170']]
impairment of intangible assets .in fiscal 2002 , we recognized an aggregate impairment charge of $ 3.8 million to reduce the amount of certain intangible assets associated with prior acquisitions to their estimated fair value .approximately $ 3.7 million and $ 0.1 million are included in integration expense and amortization of intangible assets , respectively , on the consolidated statement of operations .the impairment charge is primarily attributable to certain technology acquired from and goodwill related to the acquisition of stanza , inc .( stanza ) in 1999 .during fiscal 2002 , we determined that we would not allocate future resources to assist in the market growth of this technology as products acquired in the merger with avant! provided customers with superior capabilities .as a result , we do not anticipate any future sales of the stanza product .in fiscal 2001 , we recognized an aggregate impairment charge of $ 2.2 million to reduce the amount of certain intangible assets associated with prior acquisitions to their estimated fair value .approximately $ 1.8 million and $ 0.4 million are included in cost of revenues and amortization of intangible assets , respectively , on the consolidated statement of operations .the impairment charge is attributable to certain technology acquired from and goodwill related to the acquisition of eagle design automation , inc .( eagle ) in 1997 .during fiscal 2001 , we determined that we would not allocate future resources to assist in the market growth of this technology .as a result , we do not anticipate any future sales of the eagle product .there were no impairment charges during fiscal 2003 .other ( expense ) income , net .other income , net was $ 24.1 million in fiscal 2003 and consisted primarily of ( i ) realized gain on investments of $ 20.7 million ; ( ii ) rental income of $ 6.3 million ; ( iii ) interest income of $ 5.2 million ; ( iv ) impairment charges related to certain assets in our venture portfolio of ( $ 4.5 ) million ; ( vii ) foundation contributions of ( $ 2.1 ) million ; and ( viii ) interest expense of ( $ 1.6 ) million .other ( expense ) , net of other income was ( $ 208.6 ) million in fiscal 2002 and consisted primarily of ( i ) ( $ 240.8 ) million expense due to the settlement of the cadence design systems , inc .( cadence ) litigation ; ( ii ) ( $ 11.3 ) million in impairment charges related to certain assets in our venture portfolio ; ( iii ) realized gains on investments of $ 22.7 million ; ( iv ) a gain of $ 3.1 million for the termination fee on the ikos systems , inc .( ikos ) merger agreement ; ( v ) rental income of $ 10.0 million ; ( vi ) interest income of $ 8.3 million ; and ( vii ) and other miscellaneous expenses including amortization of premium forwards and foreign exchange gains and losses recognized during the fiscal year of ( $ 0.6 ) million .other income , net was $ 83.8 million in fiscal 2001 and consisted primarily of ( i ) a gain of $ 10.6 million on the sale of our silicon libraries business to artisan components , inc. ; ( ii ) ( $ 5.8 ) million in impairment charges related to certain assets in our venture portfolio ; ( iii ) realized gains on investments of $ 55.3 million ; ( iv ) rental income of $ 8.6 million ; ( v ) interest income of $ 12.8 million ; and ( vi ) other miscellaneous income including amortization of premium forwards and foreign exchange gains and losses recognized during the fiscal year of $ 2.3 million .termination of agreement to acquire ikos systems , inc .on july 2 , 2001 , we entered into an agreement and plan of merger and reorganization ( the ikos merger agreement ) with ikos systems , inc .the ikos merger agreement provided for the acquisition of all outstanding shares of ikos common stock by synopsys. .
|
what is the percentage of 2006's estimated future amortization of deferred stock compensation among the total?
|
11.71%
|
{
"answer": "11.71%",
"decimal": 0.11710000000000001,
"type": "percentage"
}
|
it is the 2006's value divided by the total amount , then turned into a percentage .
|
customer demand .this compared with 555000 tons of total downtime in 2006 of which 150000 tons related to lack-of-orders .printing papers in millions 2007 2006 2005 .
[['in millions', '2007', '2006', '2005'], ['sales', '$ 6530', '$ 6700', '$ 6980'], ['operating profit', '$ 1101', '$ 636', '$ 434']]
north american printing papers net sales in 2007 were $ 3.5 billion compared with $ 4.4 billion in 2006 ( $ 3.5 billion excluding the coated and super- calendered papers business ) and $ 4.8 billion in 2005 ( $ 3.2 billion excluding the coated and super- calendered papers business ) .sales volumes decreased in 2007 versus 2006 partially due to reduced production capacity resulting from the conversion of the paper machine at the pensacola mill to the production of lightweight linerboard for our industrial packaging segment .average sales price realizations increased significantly , reflecting benefits from price increases announced throughout 2007 .lack-of-order downtime declined to 27000 tons in 2007 from 40000 tons in 2006 .operating earnings of $ 537 million in 2007 increased from $ 482 million in 2006 ( $ 407 million excluding the coated and supercalendered papers business ) and $ 175 million in 2005 ( $ 74 million excluding the coated and supercalendered papers business ) .the benefits from improved average sales price realizations more than offset the effects of higher input costs for wood , energy , and freight .mill operations were favorable compared with the prior year due to current-year improvements in machine performance and energy conservation efforts .sales volumes for the first quarter of 2008 are expected to increase slightly , and the mix of prod- ucts sold to improve .demand for printing papers in north america was steady as the quarter began .price increases for cut-size paper and roll stock have been announced that are expected to be effective principally late in the first quarter .planned mill maintenance outage costs should be about the same as in the fourth quarter ; however , raw material costs are expected to continue to increase , primarily for wood and energy .brazil ian papers net sales for 2007 of $ 850 mil- lion were higher than the $ 495 million in 2006 and the $ 465 million in 2005 .compared with 2006 , aver- age sales price realizations improved reflecting price increases for uncoated freesheet paper realized dur- ing the second half of 2006 and the first half of 2007 .excluding the impact of the luiz antonio acquisition , sales volumes increased primarily for cut size and offset paper .operating profits for 2007 of $ 246 mil- lion were up from $ 122 million in 2006 and $ 134 mil- lion in 2005 as the benefits from higher sales prices and favorable manufacturing costs were only parti- ally offset by higher input costs .contributions from the luiz antonio acquisition increased net sales by approximately $ 350 million and earnings by approx- imately $ 80 million in 2007 .entering 2008 , sales volumes for uncoated freesheet paper and pulp should be seasonally lower .average price realizations should be essentially flat , but mar- gins are expected to reflect a less favorable product mix .energy costs , primarily for hydroelectric power , are expected to increase significantly reflecting a lack of rainfall in brazil in the latter part of 2007 .european papers net sales in 2007 were $ 1.5 bil- lion compared with $ 1.3 billion in 2006 and $ 1.2 bil- lion in 2005 .sales volumes in 2007 were higher than in 2006 at our eastern european mills reflecting stronger market demand and improved efficiencies , but lower in western europe reflecting the closure of the marasquel mill in 2006 .average sales price real- izations increased significantly in 2007 in both east- ern and western european markets .operating profits of $ 214 million in 2007 increased from a loss of $ 16 million in 2006 and earnings of $ 88 million in 2005 .the loss in 2006 reflects the impact of a $ 128 million impairment charge to reduce the carrying value of the fixed assets at the saillat , france mill .excluding this charge , the improvement in 2007 compared with 2006 reflects the contribution from higher net sales , partially offset by higher input costs for wood , energy and freight .looking ahead to the first quarter of 2008 , sales volumes are expected to be stable in western europe , but seasonally weaker in eastern europe and russia .average price realizations are expected to remain about flat .wood costs are expected to increase , especially in russia due to strong demand ahead of tariff increases , and energy costs are anticipated to be seasonally higher .asian printing papers net sales were approx- imately $ 20 million in 2007 , compared with $ 15 mil- lion in 2006 and $ 10 million in 2005 .operating earnings increased slightly in 2007 , but were close to breakeven in all periods .u.s .market pulp sales in 2007 totaled $ 655 mil- lion compared with $ 510 million and $ 525 million in 2006 and 2005 , respectively .sales volumes in 2007 were up from 2006 levels , primarily for paper and .
|
what was the percentage change in the net sales in asian papers from 2006 to 2007
|
33.3%
|
{
"answer": "33.3%",
"decimal": 0.33299999999999996,
"type": "percentage"
}
| |
stock performance graph the following graph provides a comparison of five year cumulative total stockholder returns of teleflex common stock , the standard & poor 2019s ( s&p ) 500 stock index and the s&p 500 healthcare equipment & supply index .the annual changes for the five-year period shown on the graph are based on the assumption that $ 100 had been invested in teleflex common stock and each index on december 31 , 2009 and that all dividends were reinvested .market performance .
[['company / index', '2009', '2010', '2011', '2012', '2013', '2014'], ['teleflex incorporated', '100', '102', '119', '142', '190', '235'], ['s&p 500 index', '100', '115', '117', '136', '180', '205'], ['s&p 500 healthcare equipment & supply index', '100', '97', '97', '113', '144', '182']]
s&p 500 healthcare equipment & supply index 100 97 97 113 144 182 .
|
what is the total percentage growth for the s&p 500 index from 2010-2014?
|
205%
|
{
"answer": "205%",
"decimal": 2.05,
"type": "percentage"
}
| |
printing papers demand for printing papers products is closely corre- lated with changes in commercial printing and advertising activity , direct mail volumes and , for uncoated cut-size products , with changes in white- collar employment levels that affect the usage of copy and laser printer paper .pulp is further affected by changes in currency rates that can enhance or disadvantage producers in different geographic regions .principal cost drivers include manufacturing efficiency , raw material and energy costs and freight costs .pr int ing papers net sales for 2012 were about flat with 2011 and increased 5% ( 5 % ) from 2010 .operat- ing profits in 2012 were 31% ( 31 % ) lower than in 2011 , but 25% ( 25 % ) higher than in 2010 .excluding facility closure costs and impairment costs , operating profits in 2012 were 30% ( 30 % ) lower than in 2011 and 25% ( 25 % ) lower than in 2010 .benefits from higher sales volumes ( $ 58 mil- lion ) were more than offset by lower sales price real- izations and an unfavorable product mix ( $ 233 million ) , higher operating costs ( $ 30 million ) , higher maintenance outage costs ( $ 17 million ) , higher input costs ( $ 32 million ) and other items ( $ 6 million ) .in addition , operating profits in 2011 included a $ 24 million gain related to the announced repurposing of our franklin , virginia mill to produce fluff pulp and an $ 11 million impairment charge related to our inverurie , scotland mill that was closed in 2009 .printing papers .
[['in millions', '2012', '2011', '2010'], ['sales', '$ 6230', '$ 6215', '$ 5940'], ['operating profit', '599', '872', '481']]
north american pr int ing papers net sales were $ 2.7 billion in 2012 , $ 2.8 billion in 2011 and $ 2.8 billion in 2010 .operating profits in 2012 were $ 331 million compared with $ 423 million ( $ 399 million excluding a $ 24 million gain associated with the repurposing of our franklin , virginia mill ) in 2011 and $ 18 million ( $ 333 million excluding facility clo- sure costs ) in 2010 .sales volumes in 2012 were flat with 2011 .average sales margins were lower primarily due to lower export sales prices and higher export sales volume .input costs were higher for wood and chemicals , but were partially offset by lower purchased pulp costs .freight costs increased due to higher oil prices .manufacturing operating costs were favorable reflecting strong mill performance .planned main- tenance downtime costs were slightly higher in 2012 .no market-related downtime was taken in either 2012 or 2011 .entering the first quarter of 2013 , sales volumes are expected to increase compared with the fourth quar- ter of 2012 reflecting seasonally stronger demand .average sales price realizations are expected to be relatively flat as sales price realizations for domestic and export uncoated freesheet roll and cutsize paper should be stable .input costs should increase for energy , chemicals and wood .planned maintenance downtime costs are expected to be about $ 19 million lower with an outage scheduled at our georgetown mill versus outages at our courtland and eastover mills in the fourth quarter of 2012 .braz i l ian papers net sales for 2012 were $ 1.1 bil- lion compared with $ 1.2 billion in 2011 and $ 1.1 bil- lion in 2010 .operating profits for 2012 were $ 163 million compared with $ 169 million in 2011 and $ 159 million in 2010 .sales volumes in 2012 were higher than in 2011 as international paper improved its segment position in the brazilian market despite weaker year-over-year conditions in most markets .average sales price realizations improved for domestic uncoated freesheet paper , but the benefit was more than offset by declining prices for exported paper .margins were favorably affected by an increased proportion of sales to the higher- margin domestic market .raw material costs increased for wood and chemicals , but costs for purchased pulp decreased .operating costs and planned maintenance downtime costs were lower than in 2011 .looking ahead to 2013 , sales volumes in the first quarter are expected to be lower than in the fourth quarter of 2012 due to seasonally weaker customer demand for uncoated freesheet paper .average sales price realizations are expected to increase in the brazilian domestic market due to the realization of an announced sales price increase for uncoated free- sheet paper , but the benefit should be partially offset by pricing pressures in export markets .average sales margins are expected to be negatively impacted by a less favorable geographic mix .input costs are expected to be about flat due to lower energy costs being offset by higher costs for wood , purchased pulp , chemicals and utilities .planned maintenance outage costs should be $ 4 million lower with no outages scheduled in the first quarter .operating costs should be favorably impacted by the savings generated by the start-up of a new biomass boiler at the mogi guacu mill .european papers net sales in 2012 were $ 1.4 bil- lion compared with $ 1.4 billion in 2011 and $ 1.3 bil- lion in 2010 .operating profits in 2012 were $ 179 million compared with $ 196 million ( $ 207 million excluding asset impairment charges related to our inverurie , scotland mill which was closed in 2009 ) in 2011 and $ 197 million ( $ 199 million excluding an asset impairment charge ) in 2010 .sales volumes in 2012 compared with 2011 were higher for uncoated freesheet paper in both europe and russia , while sales volumes for pulp were lower in both regions .average sales price realizations for uncoated .
|
what was the change in operating profits in 2012 in millions
|
-6
|
{
"answer": "-6",
"decimal": -6,
"type": "float"
}
| |
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 south america's sites among all sites?
|
8.53%
|
{
"answer": "8.53%",
"decimal": 0.08529999999999999,
"type": "percentage"
}
|
it is the number of south america's sites divided by all sites , 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 2016?
|
48.3%
|
{
"answer": "48.3%",
"decimal": 0.483,
"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 was the total fair value building that cytyc had finished constructing in 2008 including the fair market value of the land?
|
$ 15100 thousand
|
{
"answer": "$ 15100 thousand",
"decimal": 15100000,
"type": "money"
}
|
to find the total fair value of the building one must added the fair market valuation of the building and land in 2007 and add the additional fair market valuation in 2008 .
|
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 2017 .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 2017', '515762', '$ 77.15', '292145', '223617', '$ 1.6 billion'], ['november 2017', '2186889', '$ 81.21', '216415', '1970474', '$ 1.4 billion'], ['december 2017', '2330263', '$ 87.76', '798', '2329465', '$ 1.2 billion'], ['total', '5032914', '$ 83.83', '509358', '4523556', '$ 1.2 billion']]
( a ) the shares reported in this column represent purchases settled in the fourth quarter of 2017 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 september 21 , 2016 , we announced that our board of directors authorized our purchase of up to $ 2.5 billion of our outstanding common stock ( the 2016 program ) with no expiration date .as of december 31 , 2017 , we had $ 1.2 billion remaining available for purchase under the 2016 program .on january 23 , 2018 , 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. .
|
by what percentage did the share price increase from october to november 2017?
|
5.3%
|
{
"answer": "5.3%",
"decimal": 0.053,
"type": "percentage"
}
| |
increased over 4% ( 4 % ) in 2005 , costs for trucking services provided by intermodal carriers remained flat as we substantially reduced expenses associated with network inefficiencies .higher diesel fuel prices increased sales and use taxes in 2005 , which resulted in higher state and local taxes .other contract expenses for equipment maintenance and other services increased in 2005 .the 2005 january west coast storm and hurricanes katrina and rita also contributed to higher expenses in 2005 ( net of insurance settlements received ) .partially offsetting these increases was a reduction in relocation expenses as we incurred higher relocation costs associated with moving support personnel to omaha , nebraska during 2004 .non-operating items millions of dollars 2006 2005 2004 % ( % ) change 2006 v 2005 % ( % ) change 2005 v 2004 .
[['millions of dollars', '2006', '2005', '2004', '% ( % ) change 2006 v 2005', '% ( % ) change 2005 v 2004'], ['other income', '$ 118', '$ 145', '$ 88', '( 19 ) % ( % )', '65% ( 65 % )'], ['interest expense', '-477 ( 477 )', '-504 ( 504 )', '-527 ( 527 )', '-5 ( 5 )', '-4 ( 4 )'], ['income taxes', '-919 ( 919 )', '-410 ( 410 )', '-252 ( 252 )', '124', '63']]
other income 2013 lower net gains from non-operating asset sales and higher expenses due to rising interest rates associated with our sale of receivables program resulted in a reduction in other income in 2006 , which was partially offset by higher rental income for the use of our right-of-way ( including 2006 settlements of rate disputes from prior years ) and cash investment returns due to higher interest rates .in 2005 , other income increased largely as a result of higher gains from real estate sales partially offset by higher expenses due to rising interest rates associated with our sale of receivables program .interest expense 2013 lower interest expense in 2006 and 2005 was primarily due to declining weighted-average debt levels of $ 7.1 billion , $ 7.8 billion , and $ 8.1 billion in 2006 , 2005 , and 2004 , respectively .a higher effective interest rate of 6.7% ( 6.7 % ) in 2006 , compared to 6.5% ( 6.5 % ) in both 2005 and 2004 , partially offset the effects of the declining debt level .income taxes 2013 income tax expense was $ 509 million higher in 2006 than 2005 .higher pre-tax income resulted in additional taxes of $ 414 million and $ 118 million of the increase resulted from the one-time reduction in 2005 described below .our effective tax rate was 36.4% ( 36.4 % ) and 28.6% ( 28.6 % ) in 2006 and 2005 , respectively .income taxes were greater in 2005 than 2004 due to higher pre-tax income partially offset by a previously reported reduction in income tax expense .in our quarterly report on form 10-q for the quarter ended june 30 , 2005 , we reported that the corporation analyzed the impact that final settlements of pre-1995 tax years had on previously recorded estimates of deferred tax assets and liabilities .the completed analysis of the final settlements for pre-1995 tax years , along with internal revenue service examination reports for tax years 1995 through 2002 were considered , among other things , in a review and re-evaluation of the corporation 2019s estimated deferred tax assets and liabilities as of september 30 , 2005 , resulting in an income tax expense reduction of $ 118 million in .
|
what was the net change in other income from 2004 to 2005 in millions?
|
57
|
{
"answer": "57",
"decimal": 57,
"type": "float"
}
| |
38 2015 ppg annual report and form 10-k notes to the consolidated financial statements 1 .summary of significant accounting policies principles of consolidation the accompanying consolidated financial statements include the accounts of ppg industries , inc .( 201cppg 201d or the 201ccompany 201d ) and all subsidiaries , both u.s .and non-u.s. , that it controls .ppg owns more than 50% ( 50 % ) of the voting stock of most of the subsidiaries that it controls .for those consolidated subsidiaries in which the company 2019s ownership is less than 100% ( 100 % ) , the outside shareholders 2019 interests are shown as noncontrolling interests .investments in companies in which ppg owns 20% ( 20 % ) to 50% ( 50 % ) of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting .as a result , ppg 2019s share of the earnings or losses of such equity affiliates is included in the accompanying consolidated statement of income and ppg 2019s share of these companies 2019 shareholders 2019 equity is included in 201cinvestments 201d in the accompanying consolidated balance sheet .transactions between ppg and its subsidiaries are eliminated in consolidation .use of estimates in the preparation of financial statements the preparation of financial statements in conformity with u.s .generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported amounts of income and expenses during the reporting period .such estimates also include the fair value of assets acquired and liabilities assumed resulting from the allocation of the purchase price related to business combinations consummated .actual outcomes could differ from those estimates .revenue recognition the company recognizes revenue when the earnings process is complete .revenue from sales is recognized by all operating segments when goods are shipped and title to inventory and risk of loss passes to the customer or when services have been rendered .shipping and handling costs amounts billed to customers for shipping and handling are reported in 201cnet sales 201d in the accompanying consolidated statement of income .shipping and handling costs incurred by the company for the delivery of goods to customers are included in 201ccost of sales , exclusive of depreciation and amortization 201d in the accompanying consolidated statement of income .selling , general and administrative costs amounts presented as 201cselling , general and administrative 201d in the accompanying consolidated statement of income are comprised of selling , customer service , distribution and advertising costs , as well as the costs of providing corporate- wide functional support in such areas as finance , law , human resources and planning .distribution costs pertain to the movement and storage of finished goods inventory at company- owned and leased warehouses , terminals and other distribution facilities .advertising costs advertising costs are expensed as incurred and totaled $ 324 million , $ 297 million and $ 235 million in 2015 , 2014 and 2013 , respectively .research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred. .
[['( $ in millions )', '2015', '2014', '2013'], ['research and development 2013 total', '$ 505', '$ 509', '$ 479'], ['less depreciation on research facilities', '19', '17', '16'], ['research and development net', '$ 486', '$ 492', '$ 463']]
legal costs legal costs , primarily include costs associated with acquisition and divestiture transactions , general litigation , environmental regulation compliance , patent and trademark protection and other general corporate purposes , are charged to expense as incurred .foreign currency translation the functional currency of most significant non-u.s .operations is their local currency .assets and liabilities of those operations are translated into u.s .dollars using year-end exchange rates ; income and expenses are translated using the average exchange rates for the reporting period .unrealized foreign currency translation adjustments are deferred in accumulated other comprehensive loss , a separate component of shareholders 2019 equity .cash equivalents cash equivalents are highly liquid investments ( valued at cost , which approximates fair value ) acquired with an original maturity of three months or less .short-term investments short-term investments are highly liquid , high credit quality investments ( valued at cost plus accrued interest ) that have stated maturities of greater than three months to one year .the purchases and sales of these investments are classified as investing activities in the consolidated statement of cash flows .marketable equity securities the company 2019s investment in marketable equity securities is recorded at fair market value and reported in 201cother current assets 201d and 201cinvestments 201d in the accompanying consolidated balance sheet with changes in fair market value recorded in income for those securities designated as trading securities and in other comprehensive income , net of tax , for those designated as available for sale securities. .
|
what was the percentage change in research and development 2013 total from 2014 to 2015?
|
-1%
|
{
"answer": "-1%",
"decimal": -0.01,
"type": "percentage"
}
| |
amount of commitment expiration per period other commercial commitments after millions total 2015 2016 2017 2018 2019 2019 .
[['other commercial commitmentsmillions', 'total', 'amount of commitment expiration per period 2015', 'amount of commitment expiration per period 2016', 'amount of commitment expiration per period 2017', 'amount of commitment expiration per period 2018', 'amount of commitment expiration per period 2019', 'amount of commitment expiration per period after2019'], ['credit facilities [a]', '$ 1700', '$ -', '$ -', '$ -', '$ -', '$ 1700', '$ -'], ['receivables securitization facility [b]', '650', '-', '-', '650', '-', '-', '-'], ['guarantees [c]', '82', '12', '26', '10', '11', '8', '15'], ['standby letters of credit [d]', '40', '34', '6', '-', '-', '-', '-'], ['total commercialcommitments', '$ 2472', '$ 46', '$ 32', '$ 660', '$ 11', '$ 1708', '$ 15']]
[a] none of the credit facility was used as of december 31 , 2014 .[b] $ 400 million of the receivables securitization facility was utilized as of december 31 , 2014 , which is accounted for as debt .the full program matures in july 2017 .[c] includes guaranteed obligations related to our equipment financings and affiliated operations .[d] none of the letters of credit were drawn upon as of december 31 , 2014 .off-balance sheet arrangements guarantees 2013 at december 31 , 2014 , and 2013 , we were contingently liable for $ 82 million and $ 299 million in guarantees .we have recorded liabilities of $ 0.3 million and $ 1 million for the fair value of these obligations as of december 31 , 2014 , and 2013 , respectively .we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our equipment financings and affiliated operations .the final guarantee expires in 2022 .we are not aware of any existing event of default that would require us to satisfy these guarantees .we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity .other matters labor agreements 2013 approximately 85% ( 85 % ) of our 47201 full-time-equivalent employees are represented by 14 major rail unions .on january 1 , 2015 , current labor agreements became subject to modification and we began the current round of negotiations with the unions .existing agreements remain in effect until new agreements are reached or the railway labor act 2019s procedures ( which include mediation , cooling-off periods , and the possibility of presidential emergency boards and congressional intervention ) are exhausted .contract negotiations historically continue for an extended period of time and we rarely experience work stoppages while negotiations are pending .inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies .as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts .derivative financial instruments 2013 we may use derivative financial instruments in limited instances 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 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 , 2014 and 2013 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities. .
|
what percentage of the total commercial commitments is receivables securitization facility?
|
26%
|
{
"answer": "26%",
"decimal": 0.26,
"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 .we have 31953 route miles , linking pacific coast and gulf coast ports with the midwest and eastern u.s .gateways and providing several corridors to key mexican gateways .we serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the atlantic coast , the pacific coast , the southeast , the southwest , canada , and mexico .export and import traffic is moved through gulf coast and pacific coast ports and across the mexican and canadian borders .the railroad , along with its subsidiaries and rail affiliates , is our one reportable operating segment .although revenues are analyzed by commodity group , we analyze the net financial results of the railroad as one segment due to the integrated nature of our rail network .the following table provides revenue by commodity group : millions 2010 2009 2008 .
[['millions', '2010', '2009', '2008'], ['agricultural', '$ 3018', '$ 2666', '$ 3174'], ['automotive', '1271', '854', '1344'], ['chemicals', '2425', '2102', '2494'], ['energy', '3489', '3118', '3810'], ['industrial products', '2639', '2147', '3273'], ['intermodal', '3227', '2486', '3023'], ['total freight revenues', '$ 16069', '$ 13373', '$ 17118'], ['other revenues', '896', '770', '852'], ['total operating revenues', '$ 16965', '$ 14143', '$ 17970']]
although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products transported are outside the u.s .basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s .( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .2 .significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries .investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting .all intercompany transactions are eliminated .we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements .cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less .accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts .the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions .receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position .investments 2013 investments represent our investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) that are accounted for under the equity method of accounting and investments in companies ( less than 20% ( 20 % ) owned ) accounted for under the cost method of accounting. .
|
in millions , what is the average for other revenue from 2008-2010?
|
839.33
|
{
"answer": "839.33",
"decimal": 839.33,
"type": "float"
}
| |
table of contents finance lease obligations the company has a non-cancelable lease agreement for a building with approximately 164000 square feet located in alajuela , costa rica , to be used as a manufacturing and office facility .the company was responsible for a significant portion of the construction costs , and in accordance with asc 840 , leases , subsection 40-15-5 , the company was deemed to be the owner of the building during the construction period .the building was completed in fiscal 2008 , and the company has recorded the fair market value of the building and land of $ 15.1 million within property and equipment on its consolidated balance sheets .at september 24 , 2011 , the company has recorded $ 1.6 million in accrued expenses and $ 16.9 million in other long-term liabilities related to this obligation in the consolidated balance sheet .the term of the lease , which commenced in may 2008 , is for a period of approximately ten years with the option to extend for two consecutive 5-year terms .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 .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 remain on the company 2019s financial statements throughout the lease term , and the building and leasehold improvements are being 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 24 , 2011: .
[['fiscal 2012', '$ 1616'], ['fiscal 2013', '1672'], ['fiscal 2014', '1731'], ['fiscal 2015', '1791'], ['fiscal 2016', '1854'], ['thereafter', '3643'], ['total minimum payments', '12307'], ['less-amount representing interest', '-4017 ( 4017 )'], ['total', '$ 8290']]
the company also has 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 .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 in accordance with asc 840-40-15-5 was deemed to be the owner of the building during the construction period .the $ 13.2 million fair market value of the facility is included within property and equipment on the consolidated balance sheet .at september 24 , 2011 , the company has recorded $ 1.0 million in accrued expenses and $ 15.9 million 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 12 years commencing on november 14 , 2006 with the option to extend for two consecutive 5-year terms .based on its asc 840-40 analysis , the company determined that the lease did not qualify for sale-leaseback treatment .therefore , the improvements and associated liabilities will remain on the company 2019s financial statements throughout the lease term , and the leasehold improvements are being depreciated on a straight line basis over their estimated useful lives of up to 35 years .source : hologic inc , 10-k , november 23 , 2011 powered by morningstar ae document research 2120 the information contained herein may not be copied , adapted or distributed and is not warranted to be accurate , complete or timely .the user assumes all risks for any damages or losses arising from any use of this information , except to the extent such damages or losses cannot be limited or excluded by applicable law .past financial performance is no guarantee of future results. .
|
what percent of future minimum lease payments are projected to be paid off in 2016?
|
22.4%
|
{
"answer": "22.4%",
"decimal": 0.22399999999999998,
"type": "percentage"
}
|
to find the percent of future minimum lease payments one must divide the projected payments in 2016 by the total amount of payments
|
notes to consolidated financial statements 2014 ( continued ) becton , dickinson and company ( b ) these reclassifications were recorded to interest expense and cost of products sold .additional details regarding the company's cash flow hedges are provided in note 13 .on august 25 , 2016 , in anticipation of proceeds to be received from the divestiture of the respiratory solutions business in the first quarter of fiscal year 2017 , the company entered into an accelerated share repurchase ( "asr" ) agreement .subsequent to the end of the company's fiscal year 2016 and as per the terms of the asr agreement , the company received approximately 1.3 million shares of its common stock , which was recorded as a $ 220 million increase to common stock in treasury .note 4 2014 earnings per share the weighted average common shares used in the computations of basic and diluted earnings per share ( shares in thousands ) for the years ended september 30 were as follows: .
[['', '2016', '2015', '2014'], ['average common shares outstanding', '212702', '202537', '193299'], ['dilutive share equivalents from share-based plans', '4834', '4972', '4410'], ['average common and common equivalent shares outstanding 2014 assuming dilution', '217536', '207509', '197709']]
average common and common equivalent shares outstanding 2014 assuming dilution 217536 207509 197709 upon closing the acquisition of carefusion corporation ( 201ccarefusion 201d ) on march 17 , 2015 , the company issued approximately 15.9 million of its common shares as part of the purchase consideration .additional disclosures regarding this acquisition are provided in note 9 .options to purchase shares of common stock are excluded from the calculation of diluted earnings per share when their inclusion would have an anti-dilutive effect on the calculation .for the years ended september 30 , 2016 , 2015 and 2014 there were no options to purchase shares of common stock which were excluded from the diluted earnings per share calculation. .
|
what is the total number of outstanding shares from 2014-2016?
|
608538
|
{
"answer": "608538",
"decimal": 608538,
"type": "float"
}
| |
74 2013 ppg annual report and form 10-k 22 .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 ef ficient reverse morris trust transaction ( the 201ctransaction 201d ) .pursuant to the merger , eagle spinco , the entity holding ppg's former commodity chemicals business , became 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 in the united states and canada .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 % ) .the completion of this exchange offer was a non-cash financing transaction , which resulted in an increase in "treasury stock" at a cost of $ 1.561 billion based on the ppg closing stock price on january 25 , 2013 .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 .in addition , ppg received $ 67 million in cash for a preliminary post-closing working capital adjustment under the terms of the transaction agreements .the net assets transferred to axiall included $ 27 million of cash on the books of the business transferred .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 .during the first quarter of 2013 , ppg recorded a gain of $ 2.2 billion 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 resulted in a net partial settlement loss of $ 33 million 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 .the company also incurred $ 14 million of pretax expense , primarily for professional services related to the transaction in 2013 as well as approximately $ 2 million of net expense related to certain retained obligations and post-closing adjustments under the terms of the transaction agreements .the net gain on the transaction includes these related losses and expenses .the results of operations and cash flows of ppg's former commodity chemicals business for january 2013 and the net gain on the transaction are reported as results from discontinued operations for the year -ended december 31 , 2013 .in prior periods presented , the results of operations and cash flows of ppg's former commodity chemicals business have been reclassified from continuing operations and presented as results from discontinued operations .ppg will provide axiall with certain transition services for up to 24 months following the closing date of the transaction .these services include logistics , purchasing , finance , information technology , human resources , tax and payroll processing .the net sales and income before income taxes of the commodity chemicals business that have been reclassified and reported as discontinued operations are presented in the table below: .
[['millions', 'year-ended 2013', 'year-ended 2012', 'year-ended 2011'], ['net sales', '$ 108', '$ 1688', '$ 1732'], ['income from operations before income tax', '$ 2014', '$ 345', '$ 376'], ['net gain from separation and merger of commodity chemicals business', '2192', '2014', '2014'], ['income tax expense', '-5 ( 5 )', '117', '126'], ['income from discontinued operations net of tax', '$ 2197', '$ 228', '$ 250'], ['less : net income attributable to non-controlling interests discontinued operations', '$ 2014', '$ -13 ( 13 )', '$ -13 ( 13 )'], ['net income from discontinued operations ( attributable to ppg )', '$ 2197', '$ 215', '$ 237']]
income from discontinued operations , net of tax $ 2197 $ 228 $ 250 less : net income attributable to non- controlling interests , discontinued operations $ 2014 $ ( 13 ) $ ( 13 ) net income from discontinued operations ( attributable to ppg ) $ 2197 $ 215 $ 237 during 2012 , $ 21 million of business separation costs are included within "income from discontinued operations , net." notes to the consolidated financial statements .
|
what was the change in millions of net sales for the commodity chemicals business that has been reclassified and reported as discontinued operations from 2012 to 2013?
|
-1580
|
{
"answer": "-1580",
"decimal": -1580,
"type": "float"
}
| |
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 2012 compare to 2011?
|
60
|
{
"answer": "60",
"decimal": 60,
"type": "float"
}
| |
sales volumes in 2013 increased from 2012 , primarily for fluff pulp , reflecting improved market demand and a change in our product mix with a full year of fluff pulp production at our franklin , virginia mill .average sales price realizations were lower for fluff pulp while prices for market pulp increased .input costs for wood , fuels and chemicals were higher .mill operating costs were significantly lower largely due to the absence of costs associated with the start-up of the franklin mill in 2012 .planned maintenance downtime costs were higher .in the first quarter of 2014 , sales volumes are expected to be slightly lower compared with the fourth quarter of 2013 .average sales price realizations are expected to improve , reflecting the further realization of previously announced sales price increases for softwood pulp and fluff pulp .input costs should be flat .planned maintenance downtime costs should be about $ 11 million higher than in the fourth quarter of 2013 .operating profits will also be negatively impacted by the severe winter weather in the first quarter of 2014 .consumer packaging demand and pricing for consumer packaging products 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 2013 increased 8% ( 8 % ) from 2012 , but decreased 7% ( 7 % ) from 2011 .operating profits decreased 40% ( 40 % ) from 2012 and 1% ( 1 % ) from 2011 .net sales and operating profits include the shorewood business in 2011 .excluding costs associated with the permanent shutdown of a paper machine at our augusta , georgia mill and costs associated with the sale of the shorewood business , 2013 operating profits were 22% ( 22 % ) lower than in 2012 , and 43% ( 43 % ) lower than in 2011 .benefits from higher sales volumes ( $ 45 million ) were offset by lower average sales price realizations and an unfavorable mix ( $ 50 million ) , higher operating costs including incremental costs resulting from the shutdown of a paper machine at our augusta , georgia mill ( $ 46 million ) and higher input costs ( $ 6 million ) .in addition , operating profits in 2013 included restructuring costs of $ 45 million related to the permanent shutdown of a paper machine at our augusta , georgia mill and $ 2 million of costs associated with the sale of the shorewood business .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 american shorewood business and $ 72 million for other charges associated with the sale of the shorewood business .consumer packaging .
[['in millions', '2013', '2012', '2011'], ['sales', '$ 3435', '$ 3170', '$ 3710'], ['operating profit', '161', '268', '163']]
north american consumer packaging net sales were $ 2.0 billion in 2013 compared with $ 2.0 billion in 2012 and $ 2.5 billion in 2011 .operating profits were $ 63 million ( $ 110 million excluding paper machine shutdown costs and costs related to the sale of the shorewood business ) in 2013 compared with $ 165 million ( $ 162 million excluding charges associated with the sale of the shorewood business ) in 2012 and $ 35 million ( $ 236 million excluding asset impairment charges and other costs associated with the sale of the shorewood business ) in 2011 .coated paperboard sales volumes in 2013 were higher than in 2012 reflecting stronger market demand .average sales price realizations were lower year-over- year despite the realization of price increases in the second half of 2013 .input costs for wood and energy increased , but were partially offset by lower costs for chemicals .planned maintenance downtime costs were slightly lower .market-related downtime was about 24000 tons in 2013 compared with about 113000 tons in 2012 .the permanent shutdown of a paper machine at our augusta , georgia mill in the first quarter of 2013 reduced capacity by 140000 tons in 2013 compared with 2012 .foodservice sales volumes increased slightly in 2013 compared with 2012 despite softer market demand .average sales margins were higher reflecting lower input costs for board and resins and a more favorable product mix .operating costs and distribution costs were both higher .the u.s.shorewood business was sold december 31 , 2011 and the non-u.s .business was sold in january looking ahead to the first quarter of 2014 , coated paperboard sales volumes are expected to be seasonally weaker than in the fourth quarter of 2013 .average sales price realizations are expected to be slightly higher , and margins should also benefit from a more favorable product mix .input costs are expected to be higher for energy , chemicals and wood .planned maintenance downtime costs should be $ 8 million lower with a planned maintenance outage scheduled at the augusta mill in the first quarter .the severe winter weather in the first quarter of 2014 will negatively impact operating profits .foodservice sales volumes are expected to be seasonally lower .average sales margins are expected to improve due to the realization of sales price increases effective with our january contract openers and a more favorable product mix. .
|
what was the average consumer packaging net sales for north america from 2011 to 2013
|
2.17
|
{
"answer": "2.17",
"decimal": 2.17,
"type": "float"
}
| |
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 .12 .accounts payable and other current liabilities dec .31 , dec .31 , millions 2010 2009 .
[['millions', 'dec . 31 2010', 'dec . 31 2009'], ['accounts payable', '$ 677', '$ 612'], ['dividends and interest', '383', '347'], ['accrued wages and vacation', '357', '339'], ['income and other taxes', '337', '224'], ['accrued casualty costs', '325', '379'], ['equipment rents payable', '86', '89'], ['other', '548', '480'], ['total accounts payable and other currentliabilities', '$ 2713', '$ 2470']]
13 .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 , 2010 and 2009 , we were not required to provide collateral , nor had we received collateral , relating to our hedging activities .determination of fair value 2013 we determine the fair values of our derivative financial instrument positions based upon current fair values as quoted by recognized dealers or the present value of expected future cash flows .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 consolidated financial statements. .
|
in millions , what is the range for accrued wages and vacation from 2009-2010?
|
18
|
{
"answer": "18",
"decimal": 18,
"type": "float"
}
| |
2013 2012 2011 .
[['', '2013', '2012', '2011'], ['track miles of rail replaced', '834', '964', '895'], ['track miles of rail capacity expansion', '97', '139', '69'], ['new ties installed ( thousands )', '3870', '4436', '3785'], ['miles of track surfaced', '11017', '11049', '11284']]
capital plan 2013 in 2014 , we expect our total capital investments to be approximately $ 3.9 billion , which may be revised if business conditions or the regulatory environment affect our ability to generate sufficient returns on these investments .while the number of our assets replaced will fluctuate as part of our replacement strategy , for 2014 we expect to use over 60% ( 60 % ) of our capital investments to replace and improve existing capital assets .among our major investment categories are replacing and improving track infrastructure and upgrading our locomotive , freight car and container fleets , including the acquisition of 200 locomotives .additionally , we will continue increasing our network and terminal capacity , especially in the southern region , and balancing terminal capacity with more mainline capacity .construction of a major rail facility at santa teresa , new mexico , will be completed in 2014 and will include a run-through and fueling facility as well as an intermodal ramp .we also plan to make significant investments in technology improvements , including approximately $ 450 million for ptc .we expect to fund our 2014 cash capital investments by using some or all of the following : cash generated from operations , proceeds from the sale or lease of various operating and non-operating properties , proceeds from the issuance of long-term debt , and cash on hand .our annual capital plan is a critical component of our long-term strategic plan , which we expect will enhance the long-term value of the corporation for our shareholders by providing sufficient resources to ( i ) replace and improve our existing track infrastructure to provide safe and fluid operations , ( ii ) increase network efficiency by adding or improving facilities and track , and ( iii ) make investments that meet customer demand and take advantage of opportunities for long-term growth .financing activities cash used in financing activities increased in 2013 versus 2012 , driven by a $ 744 million increase for the repurchase of shares under our common stock repurchase program and higher dividend payments in 2013 of $ 1.3 billion compared to $ 1.1 billion in 2012 .we increased our debt levels in 2013 , which partially offset the increase in cash used in financing activities .cash used in financing activities increased in 2012 versus 2011 .dividend payments in 2012 increased by $ 309 million , reflecting our higher dividend rate , and common stock repurchases increased by $ 56 million .our debt levels did not materially change from 2011 after a decline in debt levels from 2010 .therefore , less cash was used in 2012 for debt activity than in 2011 .dividends 2013 on february 6 , 2014 , we increased the quarterly dividend to $ 0.91 per share , payable on april 1 , 2014 , to shareholders of record on february 28 , 2014 .we expect to fund the increase in the quarterly dividend through cash generated from operations and cash on hand at december 31 , 2013 .credit facilities 2013 on december 31 , 2013 , we had $ 1.8 billion of credit available under our revolving credit facility ( the facility ) , which is designated for general corporate purposes and supports the issuance of commercial paper .we did not draw on the facility during 2013 .commitment fees and interest rates payable under the facility are similar to fees and rates available to comparably rated , investment-grade borrowers .the facility allows for borrowings at floating rates based on london interbank offered rates , plus a spread , depending upon credit ratings for our senior unsecured debt .the facility matures in 2015 under a four year term and requires the corporation to maintain a debt-to-net-worth coverage ratio as a condition to making a borrowing .at december 31 , 2013 , and december 31 , 2012 ( and at all times during the year ) , we were in compliance with this covenant .the definition of debt used for purposes of calculating the debt-to-net-worth coverage ratio includes , among other things , certain credit arrangements , capital leases , guarantees and unfunded and vested pension benefits under title iv of erisa .at december 31 , 2013 , the debt-to-net-worth coverage ratio allowed us to carry up to $ 42.4 billion of debt ( as defined in the facility ) , and we had $ 9.9 billion of debt ( as defined in the facility ) outstanding at that date .under our current capital plans , we expect to continue to satisfy the debt-to-net-worth coverage ratio ; however , many factors beyond our reasonable control .
|
what was the difference in track miles of rail replaced between 2011 and 2012?
|
69
|
{
"answer": "69",
"decimal": 69,
"type": "float"
}
| |
million excluding a gain on a bargain purchase price adjustment on the acquisition of a majority share of our operations in turkey and restructuring costs ) compared with $ 53 million ( $ 72 million excluding restructuring costs ) in 2012 and $ 66 million ( $ 61 million excluding a gain for a bargain purchase price adjustment on an acquisition by our then joint venture in turkey and costs associated with the closure of our etienne mill in france in 2009 ) in 2011 .sales volumes in 2013 were higher than in 2012 reflecting strong demand for packaging in the agricultural markets in morocco and turkey .in europe , sales volumes decreased slightly due to continuing weak demand for packaging in the industrial markets , and lower demand for packaging in the agricultural markets resulting from poor weather conditions .average sales margins were significantly lower due to input costs for containerboard rising ahead of box sales price increases .other input costs were also higher , primarily for energy .operating profits in 2013 and 2012 included net gains of $ 13 million and $ 10 million , respectively , for insurance settlements and italian government grants , partially offset by additional operating costs , related to the earthquakes in northern italy in may 2012 which affected our san felice box plant .entering the first quarter of 2014 , sales volumes are expected to increase slightly reflecting higher demand for packaging in the industrial markets .average sales margins are expected to gradually improve as a result of slight reductions in material costs and planned box price increases .other input costs should be about flat .brazilian industrial packaging includes the results of orsa international paper embalagens s.a. , a corrugated packaging producer in which international paper acquired a 75% ( 75 % ) share in january 2013 .net sales were $ 335 million in 2013 .operating profits in 2013 were a loss of $ 2 million ( a gain of $ 2 million excluding acquisition and integration costs ) .looking ahead to the first quarter of 2014 , sales volumes are expected to be seasonally lower than in the fourth quarter of 2013 .average sales margins should improve reflecting the partial implementation of an announced sales price increase and a more favorable product mix .operating costs and input costs are expected to be lower .asian industrial packaging net sales were $ 400 million in 2013 compared with $ 400 million in 2012 and $ 410 million in 2011 .operating profits for the packaging operations were a loss of $ 5 million in 2013 ( a loss of $ 1 million excluding restructuring costs ) compared with gains of $ 2 million in 2012 and $ 2 million in 2011 .operating profits were favorably impacted in 2013 by higher average sales margins and slightly higher sales volumes compared with 2012 , but these benefits were offset by higher operating costs .looking ahead to the first quarter of 2014 , sales volumes and average sales margins are expected to be seasonally soft .net sales for the distribution operations were $ 285 million in 2013 compared with $ 260 million in 2012 and $ 285 million in 2011 .operating profits were $ 3 million in 2013 , 2012 and 2011 .printing papers demand for printing papers products is closely correlated with changes in commercial printing and advertising activity , direct mail volumes and , for uncoated cut-size products , with changes in white- collar employment levels that affect the usage of copy and laser printer paper .pulp is further affected by changes in currency rates that can enhance or disadvantage producers in different geographic regions .principal cost drivers include manufacturing efficiency , raw material and energy costs and freight costs .printing papers net sales for 2013 were about flat with both 2012 and 2011 .operating profits in 2013 were 55% ( 55 % ) lower than in 2012 and 69% ( 69 % ) lower than in 2011 .excluding facility closure costs and impairment costs , operating profits in 2013 were 15% ( 15 % ) lower than in 2012 and 40% ( 40 % ) lower than in 2011 .benefits from lower operating costs ( $ 81 million ) and lower maintenance outage costs ( $ 17 million ) were more than offset by lower average sales price realizations ( $ 38 million ) , lower sales volumes ( $ 14 million ) , higher input costs ( $ 99 million ) and higher other costs ( $ 34 million ) .in addition , operating profits in 2013 included costs of $ 118 million associated with the announced closure of our courtland , alabama mill .during 2013 , the company accelerated depreciation for certain courtland assets , and diligently 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 .during 2014 , we have continued our evaluation and expect to conclude as to any uses for these assets during the first quarter of 2014 .operating profits also included a $ 123 million impairment charge associated with goodwill and a trade name intangible asset in our india papers business .operating profits in 2011 included a $ 24 million gain related to the announced repurposing of our franklin , virginia mill to produce fluff pulp and an $ 11 million impairment charge related to our inverurie , scotland mill that was closed in 2009 .printing papers .
[['in millions', '2013', '2012', '2011'], ['sales', '$ 6205', '$ 6230', '$ 6215'], ['operating profit', '271', '599', '872']]
north american printing papers net sales were $ 2.6 billion in 2013 , $ 2.7 billion in 2012 and $ 2.8 billion in 2011. .
|
what was the cumulative asian industrial packaging net sales from 2011 to 2013
|
1210
|
{
"answer": "1210",
"decimal": 1210,
"type": "float"
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| |
nbcuniversal media , llc our consolidated balance sheet also includes the assets and liabilities of certain legacy pension plans , as well as the assets and liabilities for pension plans of certain foreign subsidiaries .as of december 31 , 2015 and 2014 , the benefit obligations associated with these plans exceeded the fair value of the plan assets by $ 67 million and $ 51 million , respectively .other employee benefits deferred compensation plans we maintain unfunded , nonqualified deferred compensation plans for certain members of management ( each , a 201cparticipant 201d ) .the amount of compensation deferred by each participant is based on participant elections .participants in the plan designate one or more valuation funds , independently established funds or indices that are used to determine the amount of investment gain or loss in the participant 2019s account .additionally , certain of our employees participate in comcast 2019s unfunded , nonqualified deferred compensa- tion plan .the amount of compensation deferred by each participant is based on participant elections .participant accounts are credited with income primarily based on a fixed annual rate .in the case of both deferred compensation plans , participants are eligible to receive distributions from their account based on elected deferral periods that are consistent with the plans and applicable tax law .the table below presents the benefit obligation and interest expense for our deferred compensation plans. .
[['year ended december 31 ( in millions )', '2015', '2014', '2013'], ['benefit obligation', '$ 417', '$ 349', '$ 250'], ['interest expense', '$ 28', '$ 24', '$ 18']]
retirement investment plans we sponsor several 401 ( k ) defined contribution retirement plans that allow eligible employees to contribute a portion of their compensation through payroll deductions in accordance with specified plan guidelines .we make contributions to the plans that include matching a percentage of the employees 2019 contributions up to certain limits .in 2015 , 2014 and 2013 , expenses related to these plans totaled $ 174 million , $ 165 million and $ 152 million , respectively .multiemployer benefit plans we participate in various multiemployer benefit plans , including pension and postretirement benefit plans , that cover some of our employees and temporary employees who are represented by labor unions .we also partic- ipate in other multiemployer benefit plans that provide health and welfare and retirement savings benefits to active and retired participants .we make periodic contributions to these plans in accordance with the terms of applicable collective bargaining agreements and laws but do not sponsor or administer these plans .we do not participate in any multiemployer benefit plans for which we consider our contributions to be individually significant , and the largest plans in which we participate are funded at a level of 80% ( 80 % ) or greater .in 2015 , 2014 and 2013 , the total contributions we made to multiemployer pension plans were $ 77 million , $ 58 million and $ 59 million , respectively .in 2015 , 2014 and 2013 , the total contributions we made to multi- employer postretirement and other benefit plans were $ 119 million , $ 125 million and $ 98 million , respectively .if we cease to be obligated to make contributions or were to otherwise withdraw from participation in any of these plans , applicable law would require us to fund our allocable share of the unfunded vested benefits , which is known as a withdrawal liability .in addition , actions taken by other participating employers may lead to adverse changes in the financial condition of one of these plans , which could result in an increase in our withdrawal liability .comcast 2015 annual report on form 10-k 166 .
|
what was the percent of the interest expense of the benefit obligation in 2015
|
6.7%
|
{
"answer": "6.7%",
"decimal": 0.067,
"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 , 201ccompany 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 operating in the u.s .our network includes 31974 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 26012 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 we provide and review revenue 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 2014 2013 2012 .
[['millions', '2014', '2013', '2012'], ['agricultural products', '$ 3777', '$ 3276', '$ 3280'], ['automotive', '2103', '2077', '1807'], ['chemicals', '3664', '3501', '3238'], ['coal', '4127', '3978', '3912'], ['industrial products', '4400', '3822', '3494'], ['intermodal', '4489', '4030', '3955'], ['total freight revenues', '$ 22560', '$ 20684', '$ 19686'], ['other revenues', '1428', '1279', '1240'], ['total operatingrevenues', '$ 23988', '$ 21963', '$ 20926']]
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 .each of our commodity groups includes revenue from shipments to and from mexico .included in the above table are revenues from our mexico business which amounted to $ 2.3 billion in 2014 , $ 2.1 billion in 2013 , and $ 1.9 billion in 2012 .basis of presentation 2013 the consolidated financial statements are presented in accordance with accounting principles generally accepted in the u.s .( gaap ) as codified in the financial accounting standards board ( fasb ) accounting standards codification ( asc ) .2 .significant accounting policies principles of consolidation 2013 the consolidated financial statements include the accounts of union pacific corporation and all of its subsidiaries .investments in affiliated companies ( 20% ( 20 % ) to 50% ( 50 % ) owned ) are accounted for using the equity method of accounting .all intercompany transactions are eliminated .we currently have no less than majority-owned investments that require consolidation under variable interest entity requirements .cash and cash equivalents 2013 cash equivalents consist of investments with original maturities of three months or less .accounts receivable 2013 accounts receivable includes receivables reduced by an allowance for doubtful accounts .the allowance is based upon historical losses , credit worthiness of customers , and current economic conditions .receivables not expected to be collected in one year and the associated allowances are classified as other assets in our consolidated statements of financial position. .
|
what percentage of total freight revenues was the coal commodity group in 2014?
|
17%
|
{
"answer": "17%",
"decimal": 0.17,
"type": "percentage"
}
| |
sources of blackrock 2019s operating cash primarily include investment advisory , administration fees and securities lending revenue , performance fees , revenue from blackrock solutions and advisory products and services , other revenue and distribution fees .blackrock uses its cash to pay all operating expense , interest and principal on borrowings , income taxes , dividends on blackrock 2019s capital stock , repurchases of the company 2019s stock , capital expenditures and purchases of co-investments and seed investments .for details of the company 2019s gaap cash flows from operating , investing and financing activities , see the consolidated statements of cash flows contained in part ii , item 8 of this filing .cash flows from operating activities , excluding the impact of consolidated sponsored investment funds , primarily include the receipt of investment advisory and administration fees , securities lending revenue and performance fees offset by the payment of operating expenses incurred in the normal course of business , including year-end incentive compensation accrued for in the prior year .cash outflows from investing activities , excluding the impact of consolidated sponsored investment funds , for 2016 were $ 58 million and primarily reflected $ 384 million of investment purchases , $ 119 million of purchases of property and equipment and $ 30 million related to an acquisition , partially offset by $ 441 million of net proceeds from sales and maturities of certain investments .cash outflows from financing activities , excluding the impact of consolidated sponsored investment funds , for 2016 were $ 2831 million , primarily resulting from $ 1.4 billion of share repurchases , including $ 1.1 billion in open market- transactions and $ 274 million of employee tax withholdings related to employee stock transactions and $ 1.5 billion of cash dividend payments , partially offset by $ 82 million of excess tax benefits from vested stock-based compensation awards .the company manages its financial condition and funding to maintain appropriate liquidity for the business .liquidity resources at december 31 , 2016 and 2015 were as follows : ( in millions ) december 31 , december 31 , cash and cash equivalents ( 1 ) $ 6091 $ 6083 cash and cash equivalents held by consolidated vres ( 2 ) ( 53 ) ( 100 ) .
[['( in millions )', 'december 31 2016', 'december 31 2015'], ['cash and cash equivalents ( 1 )', '$ 6091', '$ 6083'], ['cash and cash equivalents held by consolidated vres ( 2 )', '-53 ( 53 )', '-100 ( 100 )'], ['subtotal', '6038', '5983'], ['credit facility 2014 undrawn', '4000', '4000'], ['total liquidity resources ( 3 )', '$ 10038', '$ 9983']]
total liquidity resources ( 3 ) $ 10038 $ 9983 ( 1 ) the percentage of cash and cash equivalents held by the company 2019s u.s .subsidiaries was approximately 50% ( 50 % ) at both december 31 , 2016 and 2015 .see net capital requirements herein for more information on net capital requirements in certain regulated subsidiaries .( 2 ) the company cannot readily access such cash to use in its operating activities .( 3 ) amounts do not reflect year-end incentive compensation accruals of approximately $ 1.3 billion and $ 1.5 billion for 2016 and 2015 , respectively , which were paid in the first quarter of the following year .total liquidity resources increased $ 55 million during 2016 , primarily reflecting cash flows from operating activities , partially offset by cash payments of 2015 year-end incentive awards , share repurchases of $ 1.4 billion and cash dividend payments of $ 1.5 billion .a significant portion of the company 2019s $ 2414 million of total investments , as adjusted , is illiquid in nature and , as such , cannot be readily convertible to cash .share repurchases .the company repurchased 3.3 million common shares in open market-transactions under its share repurchase program for $ 1.1 billion during 2016 .at december 31 , 2016 , there were 3 million shares still authorized to be repurchased .in january 2017 , the board of directors approved an increase in the shares that may be repurchased under the company 2019s existing share repurchase program to allow for the repurchase of an additional 6 million shares for a total up to 9 million shares of blackrock common stock .net capital requirements .the company is required to maintain net capital in certain regulated subsidiaries within a number of jurisdictions , which is partially maintained by retaining cash and cash equivalent investments in those subsidiaries or jurisdictions .as a result , such subsidiaries of the company may be restricted in their ability to transfer cash between different jurisdictions and to their parents .additionally , transfers of cash between international jurisdictions , including repatriation to the united states , may have adverse tax consequences that could discourage such transfers .blackrock institutional trust company , n.a .( 201cbtc 201d ) is chartered as a national bank that does not accept client deposits and whose powers are limited to trust and other fiduciary activities .btc provides investment management services , including investment advisory and securities lending agency services , to institutional investors and other clients .btc is subject to regulatory capital and liquid asset requirements administered by the office of the comptroller of the currency .at december 31 , 2016 and 2015 , the company was required to maintain approximately $ 1.4 billion and $ 1.1 billion , respectively , in net capital in certain regulated subsidiaries , including btc , entities regulated by the financial conduct authority and prudential regulation authority in the united kingdom , and the company 2019s broker-dealers .the company was in compliance with all applicable regulatory net capital requirements .undistributed earnings of foreign subsidiaries .as of december 31 , 2016 , the company has not provided for u.s .federal and state income taxes on approximately $ 5.3 billion of undistributed earnings of its foreign subsidiaries .such earnings are considered indefinitely reinvested outside the united states .the company 2019s current plans do not demonstrate a need to repatriate these funds .short-term borrowings 2016 revolving credit facility .the company 2019s credit facility has an aggregate commitment amount of $ 4.0 billion and was amended in april 2016 to extend the maturity date to march 2021 ( the 201c2016 credit facility 201d ) .the 2016 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 2016 credit facility to an aggregate principal amount not to exceed $ 5.0 billion .interest on borrowings outstanding accrues at a rate based on the applicable london interbank offered rate plus a spread .the 2016 credit facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to .
|
what is the average price of the repurchased shares during 2016?
|
333.3
|
{
"answer": "333.3",
"decimal": 333.3,
"type": "float"
}
| |
item 2 .properties .we conduct our primary operations at the owned and leased facilities described below .location operations conducted approximate square feet expiration new haven , connecticut corporate headquarters and executive , sales , research and development offices 514000 .
[['location', 'operations conducted', 'approximatesquare feet', 'leaseexpirationdates'], ['new haven connecticut', 'corporate headquarters and executive sales research and development offices', '514000', '2030'], ['dublin ireland', 'global supply chain distribution and administration offices', '215000', 'owned'], ['lexington massachusetts', 'research and development offices', '81000', '2019'], ['bogart georgia', 'commercial research and development manufacturing', '70000', '2024'], ['smithfield rhode island', 'commercial research and development manufacturing', '67000', 'owned'], ['zurich switzerland', 'regional executive and sales offices', '69000', '2025']]
we believe that our administrative office space is adequate to meet our needs for the foreseeable future .we also believe that our research and development facilities and our manufacturing facility , together with third party manufacturing facilities , will be adequate for our on-going activities .in addition to the locations above , we also lease space in other u.s .locations and in foreign countries to support our operations as a global organization .as of december 31 , 2015 , we also leased approximately 254000 square feet in cheshire , connecticut , which was the previous location of our corporate headquarters and executive , sales , research and development offices .in december 2015 , we entered into an early termination of this lease and will occupy this space through may 2016 .in april 2014 , we purchased a fill/finish facility in athlone , ireland .following refurbishment of the facility , and after successful completion of the appropriate validation processes and regulatory approvals , the facility will become our first company-owned fill/finish and packaging facility for our commercial and clinical products .in may 2015 , we announced plans to construct a new biologics manufacturing facility on our existing property in dublin ireland , which is expected to be completed by 2020 .item 3 .legal proceedings .in may 2015 , we received a subpoena in connection with an investigation by the enforcement division of the sec requesting information related to our grant-making activities and compliance with the fcpa in various countries .the sec also seeks information related to alexion 2019s recalls of specific lots of soliris and related securities disclosures .in addition , in october 2015 , alexion received a request from the doj for the voluntary production of documents and other information pertaining to alexion's compliance with the fcpa .alexion is cooperating with these investigations .at this time , alexion is unable to predict the duration , scope or outcome of these investigations .given the ongoing nature of these investigations , management does not currently believe a loss related to these matters is probable or that the potential magnitude of such loss or range of loss , if any , can be reasonably estimated .item 4 .mine safety disclosures .not applicable. .
|
how many square feet are leased by alexion pharmaceuticals , inc?
|
734000
|
{
"answer": "734000",
"decimal": 734000,
"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 mathematical range for all four groups in 12/2010 , assuming investments of $ 100 initially in 2008?
|
56.66
|
{
"answer": "56.66",
"decimal": 56.66,
"type": "float"
}
| |
capitalized software : internally developed computer software costs and costs of product enhancements are capitalized subsequent to the determination of technological feasibility ; such capitalization continues until the product becomes available for commercial release .judgment is required in determining when technological feasibility of a product is established .the company has determined that technological feasibility is reached after all high-risk development issues have been resolved through coding and testing .generally , the time between the establishment of technological feasibility and commercial release of software is minimal , resulting in insignificant or no capitalization of internally developed software costs .amortization of capitalized software costs , both for internally developed as well as for purchased software products , is computed on a product-by-product basis over the estimated economic life of the product , which is generally three years .amortization is the greater of the amount computed using : ( i ) the ratio of the current year 2019s gross revenue to the total current and anticipated future gross revenue for that product or ( ii ) the straight-line method over the estimated life of the product .amortization expense related to capitalized and acquired software costs , including the related trademarks , was $ 40.9 million , $ 33.7 million and $ 32.8 million for the years ended december 31 , 2012 , 2011 and 2010 , respectively .the company periodically reviews the carrying value of capitalized software .impairments are recognized in the results of operations when the expected future undiscounted operating cash flow derived from the capitalized costs of internally developed software is less than the carrying value .no impairment charges have been required to date .goodwill and other intangible assets : goodwill represents the excess of the consideration transferred over the fair value of net identifiable assets acquired .intangible assets consist of trademarks , customer lists , contract backlog , and acquired software and technology .the company tests goodwill for impairment at least annually by performing a qualitative assessment of whether there is sufficient evidence that it is more likely than not that the fair value of each reporting unit exceeds its carrying amount .the application of a qualitative assessment requires the company to assess and make judgments regarding a variety of factors which potentially impact the fair value of a reporting unit , including general economic conditions , industry and market-specific conditions , customer behavior , cost factors , the company 2019s financial performance and trends , the company 2019s strategies and business plans , capital requirements , management and personnel issues , and the company 2019s stock price , among others .the company then considers the totality of these and other factors , placing more weight on the events and circumstances that are judged to most affect a reporting unit 2019s fair value or the carrying amount of its net assets , to reach a qualitative conclusion regarding whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount .if it is determined that it is more likely than not that the fair value of a reporting unit exceeds its carrying value , no further analysis is necessary .if it is determined that it is more likely than not the reporting unit's carrying value exceeds its fair value , a quantitative two-step analysis is performed where the fair value of the reporting unit is estimated and the impairment loss , if any , is recorded .the company tests indefinite-lived intangible assets for impairment at least annually by comparing the carrying value of the asset to its estimated fair value .the company performs its annual goodwill and indefinite-lived intangible assets impairment test on january 1 of each year unless there is an indicator that would require a test during the year .the company periodically reviews the carrying value of other intangible assets and will recognize impairments when events or circumstances indicate that such assets may be impaired .no impairment charges have been required to date for the company's goodwill and other intangible assets .concentrations of credit risk : the company has a concentration of credit risk with respect to revenue and trade receivables due to the use of certain significant channel partners to market and sell the company 2019s products .the company performs periodic credit evaluations of its customers 2019 financial condition and generally does not require collateral .the following table outlines concentrations of risk with respect to the company 2019s revenue: .
[['( as a % ( % ) of revenue except customer data )', 'year ended december 31 , 2012', 'year ended december 31 , 2011', 'year ended december 31 , 2010'], ['revenue from channel partners', '26% ( 26 % )', '26% ( 26 % )', '27% ( 27 % )'], ['largest channel partner', '6% ( 6 % )', '4% ( 4 % )', '4% ( 4 % )'], ['2ndlargest channel partner', '3% ( 3 % )', '3% ( 3 % )', '3% ( 3 % )'], ['direct sale customers exceeding 5% ( 5 % ) of revenue', '2014', '2014', '2014']]
table of contents .
|
what is the average amortization expense related to capitalized and acquired software costs , including the related trademarks , from 2010-2012 , in millions ? \\n
|
35.8
|
{
"answer": "35.8",
"decimal": 35.8,
"type": "float"
}
| |
other .the aggregate purchase price of these other 2008 acquis- itions was approximately $ 610 million .none of these acquisitions were material to our consolidated financial statements for the year ended december 31 , 2008 .2007 acquisitions the houston transaction in july 2006 , we initiated the dissolution of texas and kansas city cable partners ( the 201chouston transaction 201d ) , our 50%-50% ( 50%-50 % ) cable system partnership with time warner cable .on january 1 , 2007 , the distribution of assets by texas and kansas city cable partners was completed and we received the cable system serving hous- ton , texas ( the 201chouston asset pool 201d ) and time warner cable received the cable systems serving kansas city , south and west texas , and new mexico ( the 201ckansas city asset pool 201d ) .we accounted for the distribution of assets by texas and kansas city cable partners as a sale of our 50% ( 50 % ) interest in the kansas city asset pool in exchange for acquiring an additional 50% ( 50 % ) interest in the houston asset pool .this transaction resulted in an increase of approximately 700000 video customers .the estimated fair value of the 50% ( 50 % ) interest of the houston asset pool we received was approximately $ 1.1 billion and resulted in a pretax gain of approx- imately $ 500 million , which is included in other income ( expense ) .we recorded our 50% ( 50 % ) interest in the houston asset pool as a step acquisition in accordance with sfas no .141 .the results of operations for the cable systems acquired in the houston transaction have been reported in our cable segment since august 1 , 2006 and in our consolidated financial statements since january 1 , 2007 ( the date of the distribution of assets ) .the weighted-average amortization period of the franchise-related customer relationship intangible assets acquired was 7 years .as a result of the houston transaction , we reversed deferred tax liabilities of approximately $ 200 million , which were primarily related to the excess of tax basis of the assets acquired over the tax basis of the assets exchanged , and reduced the amount of goodwill that would have otherwise been recorded in the acquis- ition .substantially all of the goodwill recorded is expected to be amortizable for tax purposes .the table below presents the purchase price allocation to assets acquired and liabilities assumed as a result of the houston transaction .( in millions ) .
[['property and equipment', '$ 870'], ['franchise-related customer relationships', '266'], ['cable franchise rights', '1954'], ['goodwill', '426'], ['other assets', '267'], ['total liabilities', '-73 ( 73 )'], ['net assets acquired', '$ 3710']]
other 2007 acquisitions in april 2007 , we acquired fandango , an online entertainment site and movie-ticket service .the results of operations of fandango have been included in our consolidated financial statements since the acquisition date and are reported in corporate and other .in june 2007 , we acquired rainbow media holdings llc 2019s 60% ( 60 % ) interest in comcast sportsnet bay area ( formerly known as bay area sportsnet ) and its 50% ( 50 % ) interest in comcast sportsnet new england ( formerly known as sports channel new england ) , expanding our regional sports networks .the completion of this transaction resulted in our 100% ( 100 % ) ownership in comcast sportsnet new england and 60% ( 60 % ) ownership in comcast sportsnet bay area .in august 2007 , we acquired the cable system of patriot media serving approximately 81000 video customers in central new jersey .the results of operations of patriot media , comcast sportsnet bay area and comcast sportsnet new england have been included in our consolidated financial statements since their acquisition dates and are reported in our cable segment .the aggregate purchase price of these other 2007 acquisitions was approximately $ 1.288 billion .none of these acquisitions were material to our consolidated financial statements for the year ended december 31 , 2007 .2006 acquisitions the adelphia and time warner transactions in april 2005 , we entered into an agreement with adelphia communications ( 201cadelphia 201d ) in which we agreed to acquire cer- tain assets and assume certain liabilities of adelphia ( the 201cadelphia acquisition 201d ) .at the same time , we and time warner cable inc .and certain of its affiliates ( 201ctwc 201d ) entered into several agreements in which we agreed to ( i ) have our interest in time warner entertainment company , l.p .( 201ctwe 201d ) redeemed , ( ii ) have our interest in twc redeemed ( together with the twe redemption , the 201credemptions 201d ) and ( iii ) exchange certain cable systems acquired from adelphia and certain comcast cable systems with twc ( the 201cexchanges 201d ) .on july 31 , 2006 , these transactions were com- pleted .we collectively refer to the adelphia acquisition , the redemptions and the exchanges as the 201cadelphia and time warner transactions . 201d also in april 2005 , adelphia and twc entered into an agreement for the acquisition of substantially all of the remaining cable system assets and the assumption of certain of the liabilities of adelphia .the adelphia and time warner transactions resulted in a net increase of 1.7 million video customers , a net cash payment by us of approximately $ 1.5 billion and the disposition of our ownership interests in twe and twc and the assets of two cable system partnerships .comcast 2008 annual report on form 10-k 52 .
|
what was the value of the assets acquired before adjustment for the liabilities in millions
|
3783
|
{
"answer": "3783",
"decimal": 3783,
"type": "float"
}
| |
on december 19 , 2011 , we redeemed the remaining $ 175 million of our 6.5% ( 6.5 % ) notes due april 15 , 2012 , and all $ 300 million of our outstanding 6.125% ( 6.125 % ) notes due january 15 , 2012 .the redemptions resulted in an early extinguishment charge of $ 5 million in the fourth quarter of 2011 .receivables securitization facility 2013 as of december 31 , 2013 and 2012 , we recorded $ 0 and $ 100 million , respectively , 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 , including our headquarters building ) 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 vies .the future minimum lease payments associated with the vie leases totaled $ 3.3 billion as of december 31 , 2013 .16 .leases we lease certain locomotives , freight cars , and other property .the consolidated statements of financial position as of december 31 , 2013 and 2012 included $ 2486 million , net of $ 1092 million of accumulated depreciation , and $ 2467 million , net of $ 966 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 , 2013 , were as follows : millions operating leases capital leases .
[['millions', 'operatingleases', 'capitalleases'], ['2014', '$ 512', '$ 272'], ['2015', '477', '260'], ['2016', '438', '239'], ['2017', '400', '247'], ['2018', '332', '225'], ['later years', '1907', '957'], ['total minimum leasepayments', '$ 4066', '$ 2200'], ['amount representing interest', 'n/a', '-498 ( 498 )'], ['present value of minimum leasepayments', 'n/a', '$ 1702']]
approximately 94% ( 94 % ) of capital lease payments relate to locomotives .rent expense for operating leases with terms exceeding one month was $ 618 million in 2013 , $ 631 million in 2012 , and $ 637 million in 2011 .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. .
|
what was the percentage change in rent expense for operating leases with terms exceeding one month from 2012 to 2013?
|
-2%
|
{
"answer": "-2%",
"decimal": -0.02,
"type": "percentage"
}
| |
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 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 2011 , we plan to make total capital investments of approximately $ 3.2 billion , including expenditures for positive train control ( ptc ) , which may be revised if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments .( see further discussion in this item 7 under liquidity and capital resources 2013 capital plan. ) 2022 positive train control 2013 in response to a legislative mandate to implement ptc by the end of 2015 , we expect to spend approximately $ 250 million during 2011 on developing 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 federal railroad administration ( 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 .during 2011 , we plan to begin testing the technology to evaluate its effectiveness .2022 financial expectations 2013 we remain cautious about economic conditions , but anticipate volume to increase from 2010 levels .in addition , we expect volume , price , and productivity gains to offset expected higher costs for fuel , labor inflation , depreciation , casualty costs , and property taxes to drive operating ratio improvement .results of operations operating revenues millions 2010 2009 2008 % ( % ) change 2010 v 2009 % ( % ) change 2009 v 2008 .
[['millions', '2010', '2009', '2008', '% ( % ) change 2010 v 2009', '% ( % ) change 2009 v 2008'], ['freight revenues', '$ 16069', '$ 13373', '$ 17118', '20% ( 20 % )', '( 22 ) % ( % )'], ['other revenues', '896', '770', '852', '16', '-10 ( 10 )'], ['total', '$ 16965', '$ 14143', '$ 17970', '20% ( 20 % )', '( 21 ) % ( % )']]
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 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 increased during 2010 as a result of economic improvement in many market sectors .we experienced particularly strong volume growth in automotive , intermodal , and industrial products shipments .core pricing gains and higher fuel surcharges also increased freight revenues and drove a 6% ( 6 % ) improvement in arc .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 is the average operating revenue from 2008-2010 , in millions?
|
16359.3
|
{
"answer": "16359.3",
"decimal": 16359.3,
"type": "float"
}
| |
at december 31 , 2014 , total future minimum commitments under existing non-cancelable operating leases and purchase obligations were as follows: .
[['in millions', '2015', '2016', '2017', '2018', '2019', 'thereafter'], ['lease obligations', '$ 142', '$ 106', '$ 84', '$ 63', '$ 45', '$ 91'], ['purchase obligations ( a )', '3266', '761', '583', '463', '422', '1690'], ['total', '$ 3408', '$ 867', '$ 667', '$ 526', '$ 467', '$ 1781']]
( a ) includes $ 2.3 billion relating to fiber supply agreements entered into at the time of the company 2019s 2006 transformation plan forestland sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business .rent expense was $ 154 million , $ 168 million and $ 185 million for 2014 , 2013 and 2012 , respectively .guarantees in connection with sales of businesses , property , equipment , forestlands and other assets , international paper commonly makes representations and warranties relating to such businesses or assets , and may agree to indemnify buyers with respect to tax and environmental liabilities , breaches of representations and warranties , and other matters .where liabilities for such matters are determined to be probable and subject to reasonable estimation , accrued liabilities are recorded at the time of sale as a cost of the transaction .environmental proceedings cercla and state actions international paper has been named as a potentially responsible party in environmental remediation actions under various federal and state laws , including the comprehensive environmental response , compensation and liability act ( cercla ) .many of these proceedings involve the cleanup of hazardous substances at large commercial landfills that received waste from many different sources .while joint and several liability is authorized under cercla and equivalent state laws , as a practical matter , liability for cercla cleanups is typically allocated among the many potential responsible parties .remedial costs are recorded in the consolidated financial statements when they become probable and reasonably estimable .international paper has estimated the probable liability associated with these matters to be approximately $ 95 million in the aggregate as of december 31 , 2014 .cass lake : one of the matters referenced above is a closed wood treating facility located in cass lake , minnesota .during 2009 , in connection with an environmental site remediation action under cercla , international paper submitted to the epa a remediation feasibility study .in june 2011 , the epa selected and published a proposed soil remedy at the site with an estimated cost of $ 46 million .the overall remediation reserve for the site is currently $ 50 million to address the selection of an alternative for the soil remediation component of the overall site remedy .in october 2011 , the epa released a public statement indicating that the final soil remedy decision would be delayed .in the unlikely event that the epa changes its proposed soil remedy and approves instead a more expensive clean- up alternative , the remediation costs could be material , and significantly higher than amounts currently recorded .in october 2012 , the natural resource trustees for this site provided notice to international paper and other potentially responsible parties of their intent to perform a natural resource damage assessment .it is premature to predict the outcome of the assessment or to estimate a loss or range of loss , if any , which may be incurred .other remediation costs in addition to the above matters , other remediation costs typically associated with the cleanup of hazardous substances at the company 2019s current , closed or formerly-owned facilities , and recorded as liabilities in the balance sheet , totaled approximately $ 41 million as of december 31 , 2014 .other than as described above , completion of required remedial actions is not expected to have a material effect on our consolidated financial statements .legal proceedings environmental kalamazoo river : the company is a potentially responsible party with respect to the allied paper , inc./ portage creek/kalamazoo river superfund site ( kalamazoo river superfund site ) in michigan .the epa asserts that the site is contaminated primarily by pcbs as a result of discharges from various paper mills located along the kalamazoo river , including a paper mill formerly owned by st .regis paper company ( st .regis ) .the company is a successor in interest to st .regis .although the company has not received any orders from the epa , in december 2014 , the epa sent the company a letter demanding payment of $ 19 million to reimburse the epa for costs associated with a time critical removal action of pcb contaminated sediments from a portion of the site .the company 2019s cercla liability has not been finally determined with respect to this or any other portion of the site and we have declined to reimburse the epa at this time .as noted below , the company is involved in allocation/ apportionment litigation with regard to the site .accordingly , it is premature to estimate a loss or range of loss with respect to this site .the company was named as a defendant by georgia- pacific consumer products lp , fort james corporation and georgia pacific llc in a contribution and cost recovery action for alleged pollution at the site .the suit .
|
what was the cumulative rent expanse from 2012 to 2014
|
507
|
{
"answer": "507",
"decimal": 507,
"type": "float"
}
| |
( a ) excludes discontinued operations .( b ) earnings before interest expense and taxes as a percent of average total assets .( c ) total debt as a percent of the sum of total debt , shareholders 2019 equity and non-current deferred income tax liabilities .the results above include the impact of the specified items detailed below .additional discussion regarding the specified items in fiscal years 2017 , 2016 and 2015 are provided in item 7 .management 2019s discussion and analysis of financial condition and results of operations. .
[['millions of dollars except per share amounts', 'years ended september 30 2017', 'years ended september 30 2016', 'years ended september 30 2015', 'years ended september 30 2014', 'years ended september 30 2013'], ['total specified items', '$ 1466', '$ 1261', '$ 1186', '$ 153', '$ 442'], ['after-tax impact of specified items', '$ 971', '$ 892', '$ 786', '$ 101', '$ 279'], ['impact of specified items on diluted earnings per share', '$ -4.34 ( 4.34 )', '$ -4.10 ( 4.10 )', '$ -3.79 ( 3.79 )', '$ -0.51 ( 0.51 )', '$ -1.40 ( 1.40 )'], ['impact of dilution from share issuances', '$ -0.54 ( 0.54 )', '$ 2014', '$ -0.02 ( 0.02 )', '$ 2014', '$ 2014']]
item 7 .management 2019s discussion and analysis of financial condition and results of operations the following commentary should be read in conjunction with the consolidated financial statements and accompanying notes .within the tables presented throughout this discussion , certain columns may not add due to the use of rounded numbers for disclosure purposes .percentages and earnings per share amounts presented are calculated from the underlying amounts .references to years throughout this discussion relate to our fiscal years , which end on september 30 .company overview description of the company and business segments becton , dickinson and company ( 201cbd 201d ) is a global medical technology company engaged in the development , manufacture and sale of a broad range of medical supplies , devices , laboratory equipment and diagnostic products used by healthcare institutions , life science researchers , clinical laboratories , the pharmaceutical industry and the general public .the company's organizational structure is based upon two principal business segments , bd medical ( 201cmedical 201d ) and bd life sciences ( 201clife sciences 201d ) .bd 2019s products are manufactured and sold worldwide .our products are marketed in the united states and internationally through independent distribution channels and directly to end-users by bd and independent sales representatives .we organize our operations outside the united states as follows : europe ; ema ( which includes the commonwealth of independent states , the middle east and africa ) ; greater asia ( which includes japan and asia pacific ) ; latin america ( which includes mexico , central america , the caribbean , and south america ) ; and canada .we continue to pursue growth opportunities in emerging markets , which include the following geographic regions : eastern europe , the middle east , africa , latin america and certain countries within asia pacific .we are primarily focused on certain countries whose healthcare systems are expanding , in particular , china and india .strategic objectives bd remains focused on delivering sustainable growth and shareholder value , while making appropriate investments for the future .bd management operates the business consistent with the following core strategies : 2022 to increase revenue growth by focusing on our core products , services and solutions that deliver greater benefits to patients , healthcare workers and researchers; .
|
what is the percentage increase for total specified items from 2014-2015?
|
67.52%
|
{
"answer": "67.52%",
"decimal": 0.6751999999999999,
"type": "percentage"
}
| |
item 2 .properties .we conduct our primary operations at the owned and leased facilities described below .location operations conducted approximate square feet expiration new haven , connecticut corporate headquarters and executive , sales , research and development offices 514000 .
[['location', 'operations conducted', 'approximatesquare feet', 'leaseexpirationdates'], ['new haven connecticut', 'corporate headquarters and executive sales research and development offices', '514000', '2030'], ['dublin ireland', 'global supply chain distribution and administration offices', '215000', 'owned'], ['lexington massachusetts', 'research and development offices', '81000', '2019'], ['bogart georgia', 'commercial research and development manufacturing', '70000', '2024'], ['smithfield rhode island', 'commercial research and development manufacturing', '67000', 'owned'], ['zurich switzerland', 'regional executive and sales offices', '69000', '2025']]
we believe that our administrative office space is adequate to meet our needs for the foreseeable future .we also believe that our research and development facilities and our manufacturing facility , together with third party manufacturing facilities , will be adequate for our on-going activities .in addition to the locations above , we also lease space in other u.s .locations and in foreign countries to support our operations as a global organization .as of december 31 , 2015 , we also leased approximately 254000 square feet in cheshire , connecticut , which was the previous location of our corporate headquarters and executive , sales , research and development offices .in december 2015 , we entered into an early termination of this lease and will occupy this space through may 2016 .in april 2014 , we purchased a fill/finish facility in athlone , ireland .following refurbishment of the facility , and after successful completion of the appropriate validation processes and regulatory approvals , the facility will become our first company-owned fill/finish and packaging facility for our commercial and clinical products .in may 2015 , we announced plans to construct a new biologics manufacturing facility on our existing property in dublin ireland , which is expected to be completed by 2020 .item 3 .legal proceedings .in may 2015 , we received a subpoena in connection with an investigation by the enforcement division of the sec requesting information related to our grant-making activities and compliance with the fcpa in various countries .the sec also seeks information related to alexion 2019s recalls of specific lots of soliris and related securities disclosures .in addition , in october 2015 , alexion received a request from the doj for the voluntary production of documents and other information pertaining to alexion's compliance with the fcpa .alexion is cooperating with these investigations .at this time , alexion is unable to predict the duration , scope or outcome of these investigations .given the ongoing nature of these investigations , management does not currently believe a loss related to these matters is probable or that the potential magnitude of such loss or range of loss , if any , can be reasonably estimated .item 4 .mine safety disclosures .not applicable. .
|
how many square feet are owned by alexion pharmaceuticals , inc?
|
282000
|
{
"answer": "282000",
"decimal": 282000,
"type": "float"
}
| |
equity compensation plan information the plan documents for the plans described in the footnotes below are included as exhibits to this form 10-k , and are incorporated herein by reference in their entirety .the following table provides information as of dec .31 , 2006 regarding the number of shares of ppg common stock that may be issued under ppg 2019s equity compensation plans .plan category securities exercise of outstanding options , warrants and rights weighted- average exercise price of outstanding warrants and rights number of securities remaining available for future issuance under equity compensation ( excluding securities reflected in column ( a ) ) equity compensation plans approved by security holders ( 1 ) 9413216 $ 58.35 10265556 equity compensation plans not approved by security holders ( 2 ) , ( 3 ) 2089300 $ 70.00 2014 .
[['plan category', 'numberof securities to be issued upon exercise of outstanding options warrants and rights ( a )', 'weighted- average exercise price of outstanding options warrants and rights ( b )', 'number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( c )'], ['equity compensation plans approved by security holders ( 1 )', '9413216', '$ 58.35', '10265556'], ['equity compensation plans not approved by security holders ( 2 ) ( 3 )', '2089300', '$ 70.00', '2014'], ['total', '11502516', '$ 60.57', '10265556']]
( 1 ) equity compensation plans approved by security holders include the ppg industries , inc .stock plan , the ppg omnibus plan , the ppg industries , inc .executive officers 2019 long term incentive plan , and the ppg industries inc .long term incentive plan .( 2 ) equity compensation plans not approved by security holders include the ppg industries , inc .challenge 2000 stock plan .this plan is a broad- based stock option plan under which the company granted to substantially all active employees of the company and its majority owned subsidiaries on july 1 , 1998 , the option to purchase 100 shares of the company 2019s common stock at its then fair market value of $ 70.00 per share .options became exercisable on july 1 , 2003 , and expire on june 30 , 2008 .there were 2089300 shares issuable upon exercise of options outstanding under this plan as of dec .31 , 2006 .( 3 ) excluded from the information presented here are common stock equivalents held under the ppg industries , inc .deferred compensation plan , the ppg industries , inc .deferred compensation plan for directors and the ppg industries , inc .directors 2019 common stock plan , none of which are equity compensation plans .as supplemental information , there were 491168 common stock equivalents held under such plans as of dec .31 , 2006 .item 6 .selected financial data the information required by item 6 regarding the selected financial data for the five years ended dec .31 , 2006 is included in exhibit 99.2 filed with this form 10-k and is incorporated herein by reference .this information is also reported in the eleven-year digest on page 72 of the annual report under the captions net sales , income ( loss ) before accounting changes , cumulative effect of accounting changes , net income ( loss ) , earnings ( loss ) per common share before accounting changes , cumulative effect of accounting changes on earnings ( loss ) per common share , earnings ( loss ) per common share , earnings ( loss ) per common share 2013 assuming dilution , dividends per share , total assets and long-term debt for the years 2002 through 2006 .item 7 .management 2019s discussion and analysis of financial condition and results of operations performance in 2006 compared with 2005 performance overview our sales increased 8% ( 8 % ) to $ 11.0 billion in 2006 compared to $ 10.2 billion in 2005 .sales increased 4% ( 4 % ) due to the impact of acquisitions , 2% ( 2 % ) due to increased volumes , and 2% ( 2 % ) due to increased selling prices .cost of sales as a percentage of sales increased slightly to 63.7% ( 63.7 % ) compared to 63.5% ( 63.5 % ) in 2005 .selling , general and administrative expense increased slightly as a percentage of sales to 17.9% ( 17.9 % ) compared to 17.4% ( 17.4 % ) in 2005 .these costs increased primarily due to higher expenses related to store expansions in our architectural coatings operating segment and increased advertising to promote growth in our optical products operating segment .other charges decreased $ 81 million in 2006 .other charges in 2006 included pretax charges of $ 185 million for estimated environmental remediation costs at sites in new jersey and $ 42 million for legal settlements offset in part by pretax earnings of $ 44 million for insurance recoveries related to the marvin legal settlement and to hurricane rita .other charges in 2005 included pretax charges of $ 132 million related to the marvin legal settlement net of related insurance recoveries of $ 18 million , $ 61 million for the federal glass class action antitrust legal settlement , $ 34 million of direct costs related to the impact of hurricanes rita and katrina , $ 27 million for an asset impairment charge in our fine chemicals operating segment and $ 19 million for debt refinancing costs .other earnings increased $ 30 million in 2006 due to higher equity earnings , primarily from our asian fiber glass joint ventures , and higher royalty income .net income and earnings per share 2013 assuming dilution for 2006 were $ 711 million and $ 4.27 , respectively , compared to $ 596 million and $ 3.49 , respectively , for 2005 .net income in 2006 included aftertax charges of $ 106 million , or 64 cents a share , for estimated environmental remediation costs at sites in new jersey and louisiana in the third quarter ; $ 26 million , or 15 cents a share , for legal settlements ; $ 23 million , or 14 cents a share for business restructuring ; $ 17 million , or 10 cents a share , to reflect the net increase in the current value of the company 2019s obligation relating to asbestos claims under the ppg settlement arrangement ; and aftertax earnings of $ 24 million , or 14 cents a share for insurance recoveries .net income in 2005 included aftertax charges of $ 117 million , or 68 cents a share for legal settlements net of insurance ; $ 21 million , or 12 cents a share for direct costs related to the impact of hurricanes katrina and rita ; $ 17 million , or 10 cents a share , related to an asset impairment charge related to our fine chemicals operating segment ; $ 12 million , or 7 cents a share , for debt refinancing cost ; and $ 13 million , or 8 cents a share , to reflect the net increase in the current 2006 ppg annual report and form 10-k 19 4282_txt to be issued options , number of .
|
what was the percentage change in earnings per share from 2005 to 2006?
|
22%
|
{
"answer": "22%",
"decimal": 0.22,
"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 percentage decrease in expenditures from 2017-2018?
|
27.21%
|
{
"answer": "27.21%",
"decimal": 0.2721,
"type": "percentage"
}
| |
14 .leases we lease certain locomotives , freight cars , and other property .the consolidated statement of financial position as of december 31 , 2008 and 2007 included $ 2024 million , net of $ 869 million of amortization , and $ 2062 million , net of $ 887 million of amortization , respectively , for properties held under capital leases .a charge to income resulting from the amortization 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 , 2008 were as follows : millions of dollars operating leases capital leases .
[['millions of dollars', 'operatingleases', 'capitalleases'], ['2009', '$ 657', '$ 188'], ['2010', '614', '168'], ['2011', '580', '178'], ['2012', '465', '122'], ['2013', '389', '152'], ['later years', '3204', '1090'], ['total minimum lease payments', '$ 5909', '$ 1898'], ['amount representing interest', 'n/a', '628'], ['present value of minimum lease payments', 'n/a', '$ 1270']]
the majority of capital lease payments relate to locomotives .rent expense for operating leases with terms exceeding one month was $ 747 million in 2008 , $ 810 million in 2007 , and $ 798 million in 2006 .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 .15 .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 ; however , to the extent possible , where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated , we have recorded a liability .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 third-party actuaries to assist us in 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 our personal injury liability is discounted to present value using applicable u.s .treasury rates .approximately 88% ( 88 % ) of the recorded liability related to asserted claims , and approximately 12% ( 12 % ) related to unasserted claims at december 31 , 2008 .because of the uncertainty surrounding the ultimate outcome of personal injury claims , it is reasonably possible that future costs to settle these claims may range from .
|
what percentage of total minimum lease payments are capital leases?
|
24%
|
{
"answer": "24%",
"decimal": 0.24,
"type": "percentage"
}
| |
2016 compared with 2015 net gains on investments of $ 57 million in 2016 decreased $ 52 million from 2015 due to lower net gains in 2016 .net gains on investments in 2015 included a $ 40 million gain related to the bkca acquisition and a $ 35 million unrealized gain on a private equity investment .interest and dividend income increased $ 14 million from 2015 primarily due to higher dividend income in 2016 .2015 compared with 2014 net gains on investments of $ 109 million in 2015 decreased $ 45 million from 2014 due to lower net gains in 2015 .net gains on investments in 2015 included a $ 40 million gain related to the bkca acquisition and a $ 35 million unrealized gain on a private equity investment .net gains on investments in 2014 included the positive impact of the monetization of a nonstrategic , opportunistic private equity investment .interest expense decreased $ 28 million from 2014 primarily due to repayments of long-term borrowings in the fourth quarter of 2014 .income tax expense .
[['( in millions )', 'gaap 2016', 'gaap 2015', 'gaap 2014', 'gaap 2016', 'gaap 2015', '2014'], ['operating income ( 1 )', '$ 4570', '$ 4664', '$ 4474', '$ 4674', '$ 4695', '$ 4563'], ['total nonoperating income ( expense ) ( 1 ) ( 2 )', '-108 ( 108 )', '-69 ( 69 )', '-49 ( 49 )', '-108 ( 108 )', '-70 ( 70 )', '-56 ( 56 )'], ['income before income taxes ( 2 )', '$ 4462', '$ 4595', '$ 4425', '$ 4566', '$ 4625', '$ 4507'], ['income tax expense', '$ 1290', '$ 1250', '$ 1131', '$ 1352', '$ 1312', '$ 1197'], ['effective tax rate', '28.9% ( 28.9 % )', '27.2% ( 27.2 % )', '25.6% ( 25.6 % )', '29.6% ( 29.6 % )', '28.4% ( 28.4 % )', '26.6% ( 26.6 % )']]
( 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 .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 canada .u.s .income taxes were not provided for certain undistributed foreign earnings intended to be indefinitely reinvested outside the united states .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 .2014 .income tax expense ( gaap ) reflected : 2022 a $ 94 million tax benefit , primarily due to the resolution of certain outstanding tax matters related to the acquisition of bgi , including the previously mentioned $ 50 million tax benefit ( see executive summary for more information ) ; 2022 a $ 73 million net tax benefit related to several favorable nonrecurring items ; and 2022 a net noncash benefit of $ 9 million associated with the revaluation of deferred income tax liabilities .the as adjusted effective tax rate of 26.6% ( 26.6 % ) for 2014 excluded the $ 9 million net noncash benefit as it will not have a cash flow impact and to ensure comparability among periods presented and the $ 50 million tax benefit mentioned above .the $ 50 million general and administrative expense and $ 50 million tax benefit have been excluded from as adjusted results as there is no impact on blackrock 2019s book value .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 .
|
what is the growth rate in operating income from 2015 to 2016?
|
-2.0%
|
{
"answer": "-2.0%",
"decimal": -0.02,
"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 2005 to 2006?
|
-2%
|
{
"answer": "-2%",
"decimal": -0.02,
"type": "percentage"
}
| |
15 .leases in january 1996 , the company entered into a lease agreement with an unrelated third party for a new corporate office facility , which the company occupied in february 1997 .in may 2004 , the company entered into the first amendment to this lease agreement , effective january 1 , 2004 .the lease was extended from an original period of 10 years , with an option for five additional years , to a period of 18 years from the inception date , with an option for five additional years .the company incurred lease rental expense related to this facility of $ 1.3 million in 2008 , 2007 and 2006 .the future minimum lease payments are $ 1.4 million per annum from january 1 , 2009 to december 31 , 2014 .the future minimum lease payments from january 1 , 2015 through december 31 , 2019 will be determined based on prevailing market rental rates at the time of the extension , if elected .the amended lease also provided for the lessor to reimburse the company for up to $ 550000 in building refurbishments completed through march 31 , 2006 .these amounts have been recorded as a reduction of lease expense over the remaining term of the lease .the company has also entered into various noncancellable operating leases for equipment and office space .office space lease expense totaled $ 9.3 million , $ 6.3 million and $ 4.7 million for the years ended december 31 , 2008 , 2007 and 2006 , respectively .future minimum lease payments under noncancellable operating leases for office space in effect at december 31 , 2008 are $ 8.8 million in 2009 , $ 6.6 million in 2010 , $ 3.0 million in 2011 , $ 1.8 million in 2012 and $ 1.1 million in 2013 .16 .royalty agreements the company has entered into various renewable , nonexclusive license agreements under which the company has been granted access to the licensor 2019s technology and the right to sell the technology in the company 2019s product line .royalties are payable to developers of the software at various rates and amounts , which generally are based upon unit sales or revenue .royalty fees are reported in cost of goods sold and were $ 6.3 million , $ 5.2 million and $ 3.9 million for the years ended december 31 , 2008 , 2007 and 2006 , respectively .17 .geographic information revenue to external customers is attributed to individual countries based upon the location of the customer .revenue by geographic area is as follows: .
[['( in thousands )', 'year ended december 31 , 2008', 'year ended december 31 , 2007', 'year ended december 31 , 2006'], ['united states', '$ 151688', '$ 131777', '$ 94282'], ['germany', '68390', '50973', '34567'], ['japan', '66960', '50896', '35391'], ['canada', '8033', '4809', '4255'], ['other european', '127246', '108971', '70184'], ['other international', '56022', '37914', '24961'], ['total revenue', '$ 478339', '$ 385340', '$ 263640']]
.
|
what is the total combined royalty fees for years ended 2006-2008 , in millions?
|
15.4
|
{
"answer": "15.4",
"decimal": 15.4,
"type": "float"
}
| |
68 2012 ppg annual report and form 10-k december 31 , 2012 , 2011 and 2010 was $ ( 30 ) million , $ 98 million and $ 65 million , respectively .the cumulative tax benefit related to the adjustment for pension and other postretirement benefits at december 31 , 2012 and 2011 was approximately $ 960 million and $ 990 million , respectively .there was no tax ( cost ) benefit related to the change in the unrealized gain ( loss ) on marketable securities for the year ended december 31 , 2012 .the tax ( cost ) benefit related to the change in the unrealized gain ( loss ) on marketable securities for the years ended december 31 , 2011 and 2010 was $ ( 0.2 ) million and $ 0.6 million , respectively .the tax benefit related to the change in the unrealized gain ( loss ) on derivatives for the years ended december 31 , 2012 , 2011 and 2010 was $ 4 million , $ 19 million and $ 1 million , respectively .18 .employee savings plan ppg 2019s employee savings plan ( 201csavings plan 201d ) covers substantially all u.s .employees .the company makes matching contributions to the savings plan , at management's discretion , based upon participants 2019 savings , subject to certain limitations .for most participants not covered by a collective bargaining agreement , company-matching contributions are established each year at the discretion of the company and are applied to participant savings up to a maximum of 6% ( 6 % ) of eligible participant compensation .for those participants whose employment is covered by a collective bargaining agreement , the level of company-matching contribution , if any , is determined by the relevant collective bargaining agreement .the company-matching contribution was suspended from march 2009 through june 2010 as a cost savings measure in recognition of the adverse impact of the global recession .effective july 1 , 2010 , the company match was reinstated at 50% ( 50 % ) on the first 6% ( 6 % ) of compensation contributed for most employees eligible for the company-matching contribution feature .this included the union represented employees in accordance with their collective bargaining agreements .on january 1 , 2011 , the company match was increased to 75% ( 75 % ) on the first 6% ( 6 % ) of compensation contributed by these eligible employees and this level was maintained throughout 2012 .compensation expense and cash contributions related to the company match of participant contributions to the savings plan for 2012 , 2011 and 2010 totaled $ 28 million , $ 26 million and $ 9 million , respectively .a portion of the savings plan qualifies under the internal revenue code as an employee stock ownership plan .as a result , the dividends on ppg shares held by that portion of the savings plan totaling $ 18 million , $ 20 million and $ 24 million for 2012 , 2011 and 2010 , respectively , were tax deductible to the company for u.s .federal tax purposes .19 .other earnings .
[['( millions )', '2012', '2011', '2010'], ['royalty income', '$ 51', '$ 55', '$ 58'], ['share of net earnings of equity affiliates ( see note 5 )', '11', '37', '45'], ['gain on sale of assets', '4', '12', '8'], ['other', '83', '73', '69'], ['total', '$ 149', '$ 177', '$ 180']]
20 .stock-based compensation the company 2019s stock-based compensation includes stock options , restricted stock units ( 201crsus 201d ) and grants of contingent shares that are earned based on achieving targeted levels of total shareholder return .all current grants of stock options , rsus and contingent shares are made under the ppg industries , inc .amended and restated omnibus incentive plan ( 201cppg amended omnibus plan 201d ) , which was amended and restated effective april 21 , 2011 .shares available for future grants under the ppg amended omnibus plan were 8.5 million as of december 31 , 2012 .total stock-based compensation cost was $ 73 million , $ 36 million and $ 52 million in 2012 , 2011 and 2010 , respectively .stock-based compensation expense increased year over year due to the increase in the expected payout percentage of the 2010 performance-based rsu grants and ppg's total shareholder return performance in 2012 in comparison with the standard & poors ( s&p ) 500 index , which has increased the expense related to outstanding grants of contingent shares .the total income tax benefit recognized in the accompanying consolidated statement of income related to the stock-based compensation was $ 25 million , $ 13 million and $ 18 million in 2012 , 2011 and 2010 , respectively .stock options ppg has outstanding stock option awards that have been granted under two stock option plans : the ppg industries , inc .stock plan ( 201cppg stock plan 201d ) and the ppg amended omnibus plan .under the ppg amended omnibus plan and the ppg stock plan , certain employees of the company have been granted options to purchase shares of common stock at prices equal to the fair market value of the shares on the date the options were granted .the options are generally exercisable beginning from six to 48 months after being granted and have a maximum term of 10 years .upon exercise of a stock option , shares of company stock are issued from treasury stock .the ppg stock plan includes a restored option provision for options originally granted prior to january 1 , 2003 that allows an optionee to exercise options and satisfy the option cost by certifying ownership of mature shares of ppg common stock with a market value equal to the option cost .the fair value of stock options issued to employees is measured on the date of grant and is recognized as expense over the requisite service period .ppg estimates the fair value of stock options using the black-scholes option pricing model .the risk- free interest rate is determined by using the u.s .treasury yield table of contents .
|
what was the change in millions of total stock-based compensation cost from 2010 to 2011?
|
-16
|
{
"answer": "-16",
"decimal": -16,
"type": "float"
}
| |
performance graph the following graph compares the yearly change in the cumulative total stockholder return for our last five full fiscal years , based upon the market price of our common stock , with the cumulative total return on a nasdaq composite index ( u.s .companies ) and a peer group , the nasdaq medical equipment-sic code 3840-3849 index , which is comprised of medical equipment companies , for that period .the performance graph assumes the investment of $ 100 on march 31 , 2006 in our common stock , the nasdaq composite index ( u.s .companies ) and the peer group index , and the reinvestment of any and all dividends. .
[['', '3/31/2006', '3/31/2007', '3/31/2008', '3/31/2009', '3/31/2010', '3/31/2011'], ['abiomed inc', '100', '105.89', '101.86', '37.98', '80.00', '112.64'], ['nasdaq composite index', '100', '103.50', '97.41', '65.33', '102.49', '118.86'], ['nasdaq medical equipment sic code 3840-3849', '100', '88.78', '84.26', '46.12', '83.47', '91.35']]
this graph is not 201csoliciting material 201d under regulation 14a or 14c of the rules promulgated under the securities exchange act of 1934 , is not deemed filed with the securities and exchange commission and is not to be incorporated by reference in any of our filings under the securities act of 1933 , as amended , or the exchange act whether made before or after the date hereof and irrespective of any general incorporation language in any such filing .transfer agent american stock transfer & trust company , 59 maiden lane , new york , ny 10038 , is our stock transfer agent. .
|
what is the roi of an investment in abiomed inc from march 2006 to march 2009?
|
-62.0%
|
{
"answer": "-62.0%",
"decimal": -0.62,
"type": "percentage"
}
| |
14 .leases we lease certain locomotives , freight cars , and other property .the consolidated statement of financial position as of december 31 , 2008 and 2007 included $ 2024 million , net of $ 869 million of amortization , and $ 2062 million , net of $ 887 million of amortization , respectively , for properties held under capital leases .a charge to income resulting from the amortization 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 , 2008 were as follows : millions of dollars operating leases capital leases .
[['millions of dollars', 'operatingleases', 'capitalleases'], ['2009', '$ 657', '$ 188'], ['2010', '614', '168'], ['2011', '580', '178'], ['2012', '465', '122'], ['2013', '389', '152'], ['later years', '3204', '1090'], ['total minimum lease payments', '$ 5909', '$ 1898'], ['amount representing interest', 'n/a', '628'], ['present value of minimum lease payments', 'n/a', '$ 1270']]
the majority of capital lease payments relate to locomotives .rent expense for operating leases with terms exceeding one month was $ 747 million in 2008 , $ 810 million in 2007 , and $ 798 million in 2006 .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 .15 .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 ; however , to the extent possible , where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated , we have recorded a liability .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 third-party actuaries to assist us in 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 our personal injury liability is discounted to present value using applicable u.s .treasury rates .approximately 88% ( 88 % ) of the recorded liability related to asserted claims , and approximately 12% ( 12 % ) related to unasserted claims at december 31 , 2008 .because of the uncertainty surrounding the ultimate outcome of personal injury claims , it is reasonably possible that future costs to settle these claims may range from .
|
what percentage of total minimum lease payments are operating leases?
|
76%
|
{
"answer": "76%",
"decimal": 0.76,
"type": "percentage"
}
| |
synopsys , inc .notes to consolidated financial statements 2014continued the company has the following tax loss and credit carryforwards available to offset future income tax liabilities : carryforward amount expiration ( in thousands ) .
[['carryforward', 'amount ( in thousands )', 'expirationdate'], ['federal net operating loss carryforward', '$ 57265', '2018-2034'], ['federal research credit carryforward', '78599', '2019-2036'], ['federal foreign tax credit carryforward', '2081', '2019-2022'], ['international foreign tax credit carryforward', '13351', 'indefinite'], ['california research credit carryforward', '169038', 'indefinite'], ['other state research credit carryforward', '7482', '2023-2032'], ['state net operating loss carryforward', '33201', '2024-2035']]
the federal and state net operating loss carryforward is from acquired companies and the annual use of such loss is subject to significant limitations under internal revenue code section 382 .foreign tax credits may only be used to offset tax attributable to foreign source income .the federal research tax credit was permanently reinstated in fiscal 2016 .the company adopted asu 2016-09 in the first quarter of fiscal 2017 .the company recorded all income tax effects of share-based awards in its provision for income taxes in the condensed consolidated statement of operations on a prospective basis .prior to adoption , the company did not recognize excess tax benefits from stock-based compensation as a charge to capital in excess of par value to the extent that the related tax deduction did not reduce income taxes payable .upon adoption of asu 2016-09 , the company recorded a deferred tax asset of $ 106.5 million mainly related to the research tax credit carryover , for the previously unrecognized excess tax benefits with an offsetting adjustment to retained earnings .adoption of the new standard resulted in net excess tax benefits in the provision for income taxes of $ 38.1 million for fiscal 2017 .during the fourth quarter of fiscal 2017 , the company repatriated $ 825 million from its foreign subsidiary .the repatriation was executed in anticipation of potential u.s .corporate tax reform , and the company plans to indefinitely reinvest the remainder of its undistributed foreign earnings outside the united states .the company provides for u.s .income and foreign withholding taxes on foreign earnings , except for foreign earnings that are considered indefinitely reinvested outside the u.s .as of october 31 , 2017 , there were approximately $ 598.3 million of earnings upon which u.s .income taxes of approximately $ 110.0 million have not been provided for. .
|
what is the differnece between the federal and the state net operating loss carryforward?
|
24064
|
{
"answer": "24064",
"decimal": 24064,
"type": "float"
}
|
it is the variation between those values .
|
( 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. .
|
what is the highest value of reductions for tax positions of prior years?
|
33
|
{
"answer": "33",
"decimal": 33,
"type": "float"
}
|
it is the maximum value .
|
on the credit rating of the company and a $ 200 million term loan with an interest rate of libor plus a margin of 175 basis points , both with maturity dates in 2017 .the proceeds from these borrowings were used , along with available cash , to fund the acquisition of temple- inland .during 2012 , international paper fully repaid the $ 1.2 billion term loan .international paper utilizes interest rate swaps to change the mix of fixed and variable rate debt and manage interest expense .at december 31 , 2012 , international paper had interest rate swaps with a total notional amount of $ 150 million and maturities in 2013 ( see note 14 derivatives and hedging activities on pages 70 through 74 of item 8 .financial statements and supplementary data ) .during 2012 , existing swaps and the amortization of deferred gains on previously terminated swaps decreased the weighted average cost of debt from 6.8% ( 6.8 % ) to an effective rate of 6.6% ( 6.6 % ) .the inclusion of the offsetting interest income from short- term investments reduced this effective rate to 6.2% ( 6.2 % ) .other financing activities during 2012 included the issuance of approximately 1.9 million shares of treasury stock , net of restricted stock withholding , and 1.0 million shares of common stock for various incentive plans , including stock options exercises that generated approximately $ 108 million of cash .payment of restricted stock withholding taxes totaled $ 35 million .off-balance sheet variable interest entities information concerning off-balance sheet variable interest entities is set forth in note 12 variable interest entities and preferred securities of subsidiaries on pages 67 through 69 of item 8 .financial statements and supplementary data for discussion .liquidity and capital resources outlook for 2015 capital expenditures and long-term debt international paper expects to be able to meet projected capital expenditures , service existing debt and meet working capital and dividend requirements during 2015 through current cash balances and cash from operations .additionally , the company has existing credit facilities totaling $ 2.0 billion of which nothing has been used .the company was in compliance with all its debt covenants at december 31 , 2014 .the company 2019s financial covenants require the maintenance of a minimum net worth of $ 9 billion and a total debt-to- capital ratio of less than 60% ( 60 % ) .net worth is defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock plus any cumulative goodwill impairment charges .the calculation also excludes accumulated other comprehensive income/ loss and nonrecourse financial liabilities of special purpose entities .the total debt-to-capital ratio is defined as total debt divided by the sum of total debt plus net worth .at december 31 , 2014 , international paper 2019s net worth was $ 14.0 billion , and the total-debt- to-capital ratio was 40% ( 40 % ) .the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows .funding decisions will be guided by our capital structure planning objectives .the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense .the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors .maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy .at december 31 , 2014 , the company held long-term credit ratings of bbb ( stable outlook ) and baa2 ( stable outlook ) by s&p and moody 2019s , respectively .contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2014 , were as follows: .
[['in millions', '2015', '2016', '2017', '2018', '2019', 'thereafter'], ['maturities of long-term debt ( a )', '$ 742', '$ 543', '$ 71', '$ 1229', '$ 605', '$ 6184'], ['debt obligations with right of offset ( b )', '2014', '5202', '2014', '2014', '2014', '2014'], ['lease obligations', '142', '106', '84', '63', '45', '91'], ['purchase obligations ( c )', '3266', '761', '583', '463', '422', '1690'], ['total ( d )', '$ 4150', '$ 6612', '$ 738', '$ 1755', '$ 1072', '$ 7965']]
( a ) total debt includes scheduled principal payments only .( b ) represents debt obligations borrowed from non-consolidated variable interest entities for which international paper has , and intends to effect , a legal right to offset these obligations with investments held in the entities .accordingly , in its consolidated balance sheet at december 31 , 2014 , international paper has offset approximately $ 5.2 billion of interests in the entities against this $ 5.3 billion of debt obligations held by the entities ( see note 12 variable interest entities and preferred securities of subsidiaries on pages 67 through 69 in item 8 .financial statements and supplementary data ) .( c ) includes $ 2.3 billion relating to fiber supply agreements entered into at the time of the 2006 transformation plan forestland sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business .( d ) not included in the above table due to the uncertainty as to the amount and timing of the payment are unrecognized tax benefits of approximately $ 119 million .as discussed in note 12 variable interest entities and preferred securities of subsidiaries on pages 67 through 69 in item 8 .financial statements and supplementary data , in connection with the 2006 international paper installment sale of forestlands , we received $ 4.8 billion of installment notes ( or timber notes ) , which we contributed to certain non- consolidated borrower entities .the installment notes mature in august 2016 ( unless extended ) .the deferred .
|
in 2014 what was the ratio of the international paper interest in other entities to debt obligation listed in the financial statements
|
0.98
|
{
"answer": "0.98",
"decimal": 0.98,
"type": "float"
}
| |
million excluding a gain on a bargain purchase price adjustment on the acquisition of a majority share of our operations in turkey and restructuring costs ) compared with $ 53 million ( $ 72 million excluding restructuring costs ) in 2012 and $ 66 million ( $ 61 million excluding a gain for a bargain purchase price adjustment on an acquisition by our then joint venture in turkey and costs associated with the closure of our etienne mill in france in 2009 ) in 2011 .sales volumes in 2013 were higher than in 2012 reflecting strong demand for packaging in the agricultural markets in morocco and turkey .in europe , sales volumes decreased slightly due to continuing weak demand for packaging in the industrial markets , and lower demand for packaging in the agricultural markets resulting from poor weather conditions .average sales margins were significantly lower due to input costs for containerboard rising ahead of box sales price increases .other input costs were also higher , primarily for energy .operating profits in 2013 and 2012 included net gains of $ 13 million and $ 10 million , respectively , for insurance settlements and italian government grants , partially offset by additional operating costs , related to the earthquakes in northern italy in may 2012 which affected our san felice box plant .entering the first quarter of 2014 , sales volumes are expected to increase slightly reflecting higher demand for packaging in the industrial markets .average sales margins are expected to gradually improve as a result of slight reductions in material costs and planned box price increases .other input costs should be about flat .brazilian industrial packaging includes the results of orsa international paper embalagens s.a. , a corrugated packaging producer in which international paper acquired a 75% ( 75 % ) share in january 2013 .net sales were $ 335 million in 2013 .operating profits in 2013 were a loss of $ 2 million ( a gain of $ 2 million excluding acquisition and integration costs ) .looking ahead to the first quarter of 2014 , sales volumes are expected to be seasonally lower than in the fourth quarter of 2013 .average sales margins should improve reflecting the partial implementation of an announced sales price increase and a more favorable product mix .operating costs and input costs are expected to be lower .asian industrial packaging net sales were $ 400 million in 2013 compared with $ 400 million in 2012 and $ 410 million in 2011 .operating profits for the packaging operations were a loss of $ 5 million in 2013 ( a loss of $ 1 million excluding restructuring costs ) compared with gains of $ 2 million in 2012 and $ 2 million in 2011 .operating profits were favorably impacted in 2013 by higher average sales margins and slightly higher sales volumes compared with 2012 , but these benefits were offset by higher operating costs .looking ahead to the first quarter of 2014 , sales volumes and average sales margins are expected to be seasonally soft .net sales for the distribution operations were $ 285 million in 2013 compared with $ 260 million in 2012 and $ 285 million in 2011 .operating profits were $ 3 million in 2013 , 2012 and 2011 .printing papers demand for printing papers products is closely correlated with changes in commercial printing and advertising activity , direct mail volumes and , for uncoated cut-size products , with changes in white- collar employment levels that affect the usage of copy and laser printer paper .pulp is further affected by changes in currency rates that can enhance or disadvantage producers in different geographic regions .principal cost drivers include manufacturing efficiency , raw material and energy costs and freight costs .printing papers net sales for 2013 were about flat with both 2012 and 2011 .operating profits in 2013 were 55% ( 55 % ) lower than in 2012 and 69% ( 69 % ) lower than in 2011 .excluding facility closure costs and impairment costs , operating profits in 2013 were 15% ( 15 % ) lower than in 2012 and 40% ( 40 % ) lower than in 2011 .benefits from lower operating costs ( $ 81 million ) and lower maintenance outage costs ( $ 17 million ) were more than offset by lower average sales price realizations ( $ 38 million ) , lower sales volumes ( $ 14 million ) , higher input costs ( $ 99 million ) and higher other costs ( $ 34 million ) .in addition , operating profits in 2013 included costs of $ 118 million associated with the announced closure of our courtland , alabama mill .during 2013 , the company accelerated depreciation for certain courtland assets , and diligently 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 .during 2014 , we have continued our evaluation and expect to conclude as to any uses for these assets during the first quarter of 2014 .operating profits also included a $ 123 million impairment charge associated with goodwill and a trade name intangible asset in our india papers business .operating profits in 2011 included a $ 24 million gain related to the announced repurposing of our franklin , virginia mill to produce fluff pulp and an $ 11 million impairment charge related to our inverurie , scotland mill that was closed in 2009 .printing papers .
[['in millions', '2013', '2012', '2011'], ['sales', '$ 6205', '$ 6230', '$ 6215'], ['operating profit', '271', '599', '872']]
north american printing papers net sales were $ 2.6 billion in 2013 , $ 2.7 billion in 2012 and $ 2.8 billion in 2011. .
|
what was the profit margin in 2011
|
14%
|
{
"answer": "14%",
"decimal": 0.14,
"type": "percentage"
}
| |
kimco realty corporation and subsidiaries notes to consolidated financial statements , continued the company 2019s investments in latin america are made through individual entities which are subject to local taxes .the company assesses each entity to determine if deferred tax assets are more likely than not realizable .this assessment primarily includes an analysis of cumulative earnings and the determination of future earnings to the extent necessary to fully realize the individual deferred tax asset .based on this analysis the company has determined that a full valuation allowance is required for entities which have a three-year cumulative book loss and for which future earnings are not readily determinable .in addition , the company has determined that no valuation allowance is needed for entities that have three-years of cumulative book income and future earnings are anticipated to be sufficient to more likely than not realize their deferred tax assets .at december 31 , 2014 , the company had total deferred tax assets of $ 9.5 million relating to its latin american investments with an aggregate valuation allowance of $ 9.3 million .the company 2019s deferred tax assets in canada result principally from depreciation deducted under gaap that exceed capital cost allowances claimed under canadian tax rules .the deferred tax asset will naturally reverse upon disposition as tax basis will be greater than the basis of the assets under generally accepted accounting principles .as of december 31 , 2014 , the company determined that no valuation allowance was needed against a $ 65.5 million net deferred tax asset within krs .the company based its determination on an analysis of both positive evidence and negative evidence using its judgment as to the relative weight of each .the company believes , when evaluating krs 2019s deferred tax assets , special consideration should be given to the unique relationship between the company as a reit and krs as a taxable reit subsidiary .this relationship exists primarily to protect the reit 2019s qualification under the code by permitting , within certain limits , the reit to engage in certain business activities in which the reit cannot directly participate .as such , the reit controls which and when investments are held in , or distributed or sold from , krs .this relationship distinguishes a reit and taxable reit subsidiary from an enterprise that operates as a single , consolidated corporate taxpayer .the company will continue through this structure to operate certain business activities in krs .the company 2019s analysis of krs 2019s ability to utilize its deferred tax assets includes an estimate of future projected income .to determine future projected income , the company scheduled krs 2019s pre-tax book income and taxable income over a twenty year period taking into account its continuing operations ( 201ccore earnings 201d ) .core earnings consist of estimated net operating income for properties currently in service and generating rental income .major lease turnover is not expected in these properties as these properties were generally constructed and leased within the past seven years .the company can employ strategies to realize krs 2019s deferred tax assets including transferring its property management business or selling certain built-in gain assets .the company 2019s projection of krs 2019s future taxable income over twenty years , utilizing the assumptions above with respect to core earnings , net of related expenses , generates sufficient taxable income to absorb a reversal of the company 2019s deductible temporary differences , including net operating loss carryovers .based on this analysis , the company concluded it is more likely than not that krs 2019s net deferred tax asset of $ 65.5 million ( excluding net deferred tax assets of fnc discussed above ) will be realized and therefore , no valuation allowance is needed at december 31 , 2014 .if future income projections do not occur as forecasted or the company incurs additional impairment losses in excess of the amount core earnings can absorb , the company will reconsider the need for a valuation allowance .provision/ ( benefit ) differ from the amounts computed by applying the statutory federal income tax rate to taxable income before income taxes as follows ( in thousands ) : .
[['', '2014', '2013', '2012'], ['federal provision/ ( benefit ) at statutory tax rate ( 35% ( 35 % ) )', '$ 7762', '$ -1697 ( 1697 )', '$ 2936'], ['state and local provision/ ( benefit ) net of federal benefit', '1304', '-205 ( 205 )', '230'], ['acquisition of fnc', '-', '-9126 ( 9126 )', '-'], ['other', '-', '229', '-25 ( 25 )'], ['total tax provision/ ( benefit ) 2013 u.s .', '$ 9066', '$ -10799 ( 10799 )', '$ 3141']]
.
|
what percentage of the total tax benefits came from the acquisition of fnc?
|
84.51%
|
{
"answer": "84.51%",
"decimal": 0.8451000000000001,
"type": "percentage"
}
| |
table of contents valero energy corporation and subsidiaries notes to consolidated financial statements ( continued ) commodity price risk we are exposed to market risks related to the volatility in the price of crude oil , refined products ( primarily gasoline and distillate ) , grain ( primarily corn ) , and natural gas used in our operations .to reduce the impact of price volatility on our results of operations and cash flows , we use commodity derivative instruments , including futures , swaps , and options .we use the futures markets for the available liquidity , which provides greater flexibility in transacting our hedging and trading operations .we use swaps primarily to manage our price exposure .our positions in commodity derivative instruments are monitored and managed on a daily basis by a risk control group to ensure compliance with our stated risk management policy that has been approved by our board of directors .for risk management purposes , we use fair value hedges , cash flow hedges , and economic hedges .in addition to the use of derivative instruments to manage commodity price risk , we also enter into certain commodity derivative instruments for trading purposes .our objective for entering into each type of hedge or trading derivative is described below .fair value hedges fair value hedges are used to hedge price volatility in certain refining inventories and firm commitments to purchase inventories .the level of activity for our fair value hedges is based on the level of our operating inventories , and generally represents the amount by which our inventories differ from our previous year-end lifo inventory levels .as of december 31 , 2011 , we had the following outstanding commodity derivative instruments that were entered into to hedge crude oil and refined product inventories and commodity derivative instruments related to the physical purchase of crude oil and refined products at a fixed price .the information presents the notional volume of outstanding contracts by type of instrument and year of maturity ( volumes in thousands of barrels ) .notional contract volumes by year of maturity derivative instrument 2012 .
[['derivative instrument', 'notional contract volumes by year of maturity 2012'], ['crude oil and refined products:', ''], ['futures 2013 long', '15398'], ['futures 2013 short', '35708'], ['physical contracts 2013 long', '20310']]
.
|
how much more futures are short than long , in percentage?
|
231.9%
|
{
"answer": "231.9%",
"decimal": 2.319,
"type": "percentage"
}
| |
f0b7 positive train control 2013 in response to a legislative mandate to implement ptc by the end of 2015 , we expect to spend approximately $ 335 million during 2012 on developing and deploying ptc .we currently estimate that ptc in accordance with implementing rules issued by the federal rail administration ( fra ) will cost us approximately $ 2 billion by the end of 2015 .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 .during 2012 , we plan to continue testing the technology to evaluate its effectiveness .f0b7 financial expectations 2013 we are cautious about the economic environment but anticipate slow but steady volume growth that will exceed 2011 levels .coupled with price , on-going network improvements and operational productivity initiatives , we expect earnings that exceed 2011 earnings .results of operations operating revenues millions 2011 2010 2009 % ( % ) change 2011 v 2010 % ( % ) change 2010 v 2009 .
[['millions', '2011', '2010', '2009', '% ( % ) change 2011 v 2010', '% ( % ) change 2010 v 2009'], ['freight revenues', '$ 18508', '$ 16069', '$ 13373', '15% ( 15 % )', '20% ( 20 % )'], ['other revenues', '1049', '896', '770', '17', '16'], ['total', '$ 19557', '$ 16965', '$ 14143', '15% ( 15 % )', '20% ( 20 % )']]
we generate freight revenues by transporting freight or other materials from our six commodity groups .freight revenues vary with volume ( carloads ) and average revenue per car ( arc ) .changes in price , traffic mix and fuel surcharges drive arc .we provide some of our customers with contractual incentives for meeting or exceeding specified cumulative volumes or shipping to and from specific locations , which we record as reductions to freight revenues based on the actual or projected future shipments .we recognize freight revenues as shipments move from origin to destination .we allocate freight revenues between reporting periods based on the relative transit time in each reporting period and recognize expenses as we incur them .other revenues include revenues earned by our subsidiaries , revenues from our commuter rail operations , and accessorial revenues , which we earn when customers retain equipment owned or controlled by us or when we perform additional services such as switching or storage .we recognize other revenues as we perform services or meet contractual obligations .freight revenues for all six commodity groups increased during 2011 compared to 2010 , while volume increased in all except intermodal .increased demand in many market sectors , with particularly strong growth in chemical , industrial products , and automotive shipments for the year , generated the increases .arc increased 12% ( 12 % ) , driven by higher fuel cost recoveries and core pricing gains .fuel cost recoveries include fuel surcharge revenue and the impact of resetting the base fuel price for certain traffic , which is described below in more detail .higher fuel prices , volume growth , and new fuel surcharge provisions in renegotiated contracts all combined to increase revenues from fuel surcharges .freight revenues and volume levels for all six commodity groups increased during 2010 as a result of economic improvement in many market sectors .we experienced particularly strong volume growth in automotive , intermodal , and industrial products shipments .core pricing gains and higher fuel surcharges also increased freight revenues and drove a 6% ( 6 % ) improvement in arc .our fuel surcharge programs ( excluding index-based contract escalators that contain some provision for fuel ) generated freight revenues of $ 2.2 billion , $ 1.2 billion , and $ 605 million in 2011 , 2010 , and 2009 , respectively .higher fuel prices , volume growth , and new fuel surcharge provisions in contracts renegotiated during the year increased fuel surcharge amounts in 2011 and 2010 .furthermore , for certain periods during 2009 , fuel prices dropped below the base at which our mileage-based fuel surcharge begins , which resulted in no fuel surcharge recovery for associated shipments during those periods .additionally , fuel surcharge revenue is not entirely comparable to prior periods as we continue to convert portions of our non-regulated traffic to mileage-based fuel surcharge programs .in 2011 , other revenues increased from 2010 due primarily to higher revenues at our subsidiaries that broker intermodal and automotive services. .
|
what percentage of total revenue in 2011 was freight revenue?
|
95%
|
{
"answer": "95%",
"decimal": 0.95,
"type": "percentage"
}
| |
levels during 2008 , an indication that efforts to improve network operations translated into better customer service .2022 fuel prices 2013 crude oil prices increased at a steady rate through the first seven months of 2008 , closing at a record high of $ 145.29 a barrel in early july .as the economy worsened during the third and fourth quarters , fuel prices dropped dramatically , hitting $ 33.87 per barrel in december , a near five-year low .despite these price declines toward the end of the year , our 2008 average fuel price increased by 39% ( 39 % ) and added $ 1.1 billion of operating expenses compared to 2007 .our fuel surcharge programs helped offset the impact of higher fuel prices .in addition , we reduced our consumption rate by 4% ( 4 % ) , saving approximately 58 million gallons of fuel during the year .the use of newer , more fuel efficient locomotives ; our fuel conservation programs ; improved network operations ; and a shift in commodity mix , primarily due to growth in bulk shipments , contributed to the improvement .2022 free cash flow 2013 cash generated by operating activities totaled a record $ 4.1 billion , yielding free cash flow of $ 825 million in 2008 .free cash flow is defined as cash provided by operating activities , less cash used in investing activities and dividends paid .free cash flow is not considered a financial measure under accounting principles generally accepted in the united states ( gaap ) by sec regulation g and item 10 of sec regulation s-k .we believe free cash flow is important in evaluating our financial performance and measures our ability to generate cash without additional external financings .free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities .the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : millions of dollars 2008 2007 2006 .
[['millions of dollars', '2008', '2007', '2006'], ['cash provided by operating activities', '$ 4070', '$ 3277', '$ 2880'], ['cash used in investing activities', '-2764 ( 2764 )', '-2426 ( 2426 )', '-2042 ( 2042 )'], ['dividends paid', '-481 ( 481 )', '-364 ( 364 )', '-322 ( 322 )'], ['free cash flow', '$ 825', '$ 487', '$ 516']]
2009 outlook 2022 safety 2013 operating a safe railroad benefits our employees , our customers , our shareholders , and the public .we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , quality control , and training and engaging our employees .we plan to continue implementation of total safety culture ( tsc ) throughout our operations .tsc , an employee-focused initiative that has helped improve safety , is a process designed to establish , maintain , and promote safety among co-workers .with respect to public safety , we will continue our efforts to maintain , upgrade , and close crossings , install video cameras on locomotives , and educate the public about crossing safety through various railroad and industry programs , along with other activities .2022 transportation plan 2013 in 2009 , we will continue to evaluate traffic flows and network logistic patterns to identify additional opportunities to simplify operations and improve network efficiency and asset utilization .we plan to maintain adequate manpower and locomotives , and improve productivity using industrial engineering techniques .2022 fuel prices 2013 on average , we expect fuel prices to decrease substantially from the average price we paid in 2008 .however , due to economic uncertainty , other global pressures , and weather incidents , fuel prices again could be volatile during the year .to reduce the impact of fuel price on earnings , we .
|
what was the percentage change in free cash flow from 2006 to 2007?
|
-6%
|
{
"answer": "-6%",
"decimal": -0.06,
"type": "percentage"
}
| |
38 2015 ppg annual report and form 10-k notes to the consolidated financial statements 1 .summary of significant accounting policies principles of consolidation the accompanying consolidated financial statements include the accounts of ppg industries , inc .( 201cppg 201d or the 201ccompany 201d ) and all subsidiaries , both u.s .and non-u.s. , that it controls .ppg owns more than 50% ( 50 % ) of the voting stock of most of the subsidiaries that it controls .for those consolidated subsidiaries in which the company 2019s ownership is less than 100% ( 100 % ) , the outside shareholders 2019 interests are shown as noncontrolling interests .investments in companies in which ppg owns 20% ( 20 % ) to 50% ( 50 % ) of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting .as a result , ppg 2019s share of the earnings or losses of such equity affiliates is included in the accompanying consolidated statement of income and ppg 2019s share of these companies 2019 shareholders 2019 equity is included in 201cinvestments 201d in the accompanying consolidated balance sheet .transactions between ppg and its subsidiaries are eliminated in consolidation .use of estimates in the preparation of financial statements the preparation of financial statements in conformity with u.s .generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported amounts of income and expenses during the reporting period .such estimates also include the fair value of assets acquired and liabilities assumed resulting from the allocation of the purchase price related to business combinations consummated .actual outcomes could differ from those estimates .revenue recognition the company recognizes revenue when the earnings process is complete .revenue from sales is recognized by all operating segments when goods are shipped and title to inventory and risk of loss passes to the customer or when services have been rendered .shipping and handling costs amounts billed to customers for shipping and handling are reported in 201cnet sales 201d in the accompanying consolidated statement of income .shipping and handling costs incurred by the company for the delivery of goods to customers are included in 201ccost of sales , exclusive of depreciation and amortization 201d in the accompanying consolidated statement of income .selling , general and administrative costs amounts presented as 201cselling , general and administrative 201d in the accompanying consolidated statement of income are comprised of selling , customer service , distribution and advertising costs , as well as the costs of providing corporate- wide functional support in such areas as finance , law , human resources and planning .distribution costs pertain to the movement and storage of finished goods inventory at company- owned and leased warehouses , terminals and other distribution facilities .advertising costs advertising costs are expensed as incurred and totaled $ 324 million , $ 297 million and $ 235 million in 2015 , 2014 and 2013 , respectively .research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred. .
[['( $ in millions )', '2015', '2014', '2013'], ['research and development 2013 total', '$ 505', '$ 509', '$ 479'], ['less depreciation on research facilities', '19', '17', '16'], ['research and development net', '$ 486', '$ 492', '$ 463']]
legal costs legal costs , primarily include costs associated with acquisition and divestiture transactions , general litigation , environmental regulation compliance , patent and trademark protection and other general corporate purposes , are charged to expense as incurred .foreign currency translation the functional currency of most significant non-u.s .operations is their local currency .assets and liabilities of those operations are translated into u.s .dollars using year-end exchange rates ; income and expenses are translated using the average exchange rates for the reporting period .unrealized foreign currency translation adjustments are deferred in accumulated other comprehensive loss , a separate component of shareholders 2019 equity .cash equivalents cash equivalents are highly liquid investments ( valued at cost , which approximates fair value ) acquired with an original maturity of three months or less .short-term investments short-term investments are highly liquid , high credit quality investments ( valued at cost plus accrued interest ) that have stated maturities of greater than three months to one year .the purchases and sales of these investments are classified as investing activities in the consolidated statement of cash flows .marketable equity securities the company 2019s investment in marketable equity securities is recorded at fair market value and reported in 201cother current assets 201d and 201cinvestments 201d in the accompanying consolidated balance sheet with changes in fair market value recorded in income for those securities designated as trading securities and in other comprehensive income , net of tax , for those designated as available for sale securities. .
|
what was the percentage change in research and development 2013 total from 2013 to 2014?
|
6%
|
{
"answer": "6%",
"decimal": 0.06,
"type": "percentage"
}
| |
value , which may be maturity , the company does not consider these investments to be other-than-temporarily impaired as of december 31 , 2005 and 2004 .gross realized gains and losses for 2005 were $ 15000 and $ 75000 , respectively .gross realized gains and losses for 2004 were $ 628000 and $ 205000 , respectively .gross realized gains for 2003 were $ 1249000 .there were no gross realized losses for 2003 .maturities stated are effective maturities .f .restricted cash at december 31 , 2005 and 2004 , the company held $ 41482000 and $ 49847000 , respectively , in restricted cash .at december 31 , 2005 and 2004 the balance was held in deposit with certain banks predominantly to collateralize conditional stand-by letters of credit in the names of the company's landlords pursuant to certain operating lease agreements .g .property and equipment property and equipment consist of the following at december 31 ( in thousands ) : depreciation expense for the years ended december 31 , 2005 , 2004 and 2003 was $ 26307000 , $ 28353000 and $ 27988000 respectively .in 2005 and 2004 , the company wrote off certain assets that were fully depreciated and no longer utilized .there was no effect on the company's net property and equipment .additionally , the company wrote off or sold certain assets that were not fully depreciated .the net loss on disposal of those assets was $ 344000 for 2005 and $ 43000 for 2004 .h .investments in accordance with the company's policy , as outlined in note b , "accounting policies" the company assessed its investment in altus pharmaceuticals , inc .( "altus" ) , which it accounts for using the cost method , and determined that there had not been any adjustments to the fair values of that investment which would indicate a decrease in its fair value below the carrying value that would require the company to write down the investment basis of the asset , as of december 31 , 2005 and december 31 , 2004 .the company's cost basis carrying value in its outstanding equity and warrants of altus was $ 18863000 at december 31 , 2005 and 2004. .
[['', '2005', '2004'], ['furniture and equipment', '$ 98387', '$ 90893'], ['leasehold improvements', '66318', '65294'], ['computers', '18971', '18421'], ['software', '18683', '16411'], ['total property and equipment gross', '202359', '191019'], ['less accumulated depreciation and amortization', '147826', '126794'], ['total property and equipment net', '$ 54533', '$ 64225']]
.
|
what was the ratio of the net loss on the disposal of the unfully depreciated assets in 2005 compared 2004
|
8
|
{
"answer": "8",
"decimal": 8,
"type": "float"
}
| |
ilim holding s.a .shareholder 2019s agreement in october 2007 , in connection with the formation of the ilim holding s.a .joint venture , international paper entered into a shareholder 2019s agreement that includes provisions relating to the reconciliation of disputes among the partners .this agreement provides that at any time , either the company or its partners may commence procedures specified under the deadlock agreement .if these or any other deadlock procedures under the shareholder's agreement are commenced , although it is not obligated to do so , the company may in certain situations choose to purchase its partners' 50% ( 50 % ) interest in ilim .any such transaction would be subject to review and approval by russian and other relevant anti-trust authorities .based on the provisions of the agreement , the company estimates that the current purchase price for its partners' 50% ( 50 % ) interests would be approximately $ 1.5 billion , which could be satisfied by payment of cash or international paper common stock , or some combination of the two , at the company's option .the purchase by the company of its partners 2019 50% ( 50 % ) interest in ilim would result in the consolidation of ilim's financial position and results of operations in all subsequent periods .the parties have informed each other that they have no current intention to commence procedures specified under the deadlock provisions of the shareholder 2019s agreement .critical accounting policies and significant accounting estimates the preparation of financial statements in conformity with accounting principles generally accepted in the united states requires international paper to establish accounting policies and to make estimates that affect both the amounts and timing of the recording of assets , liabilities , revenues and expenses .some of these estimates require judgments about matters that are inherently uncertain .accounting policies whose application may have a significant effect on the reported results of operations and financial position of international paper , and that can require judgments by management that affect their application , include the accounting for contingencies , impairment or disposal of long-lived assets and goodwill , pensions and postretirement benefit obligations , stock options and income taxes .the company has discussed the selection of critical accounting policies and the effect of significant estimates with the audit and finance committee of the company 2019s board of directors .contingent liabilities accruals for contingent liabilities , including legal and environmental matters , are recorded when it is probable that a liability has been incurred or an asset impaired and the amount of the loss can be reasonably estimated .liabilities accrued for legal matters require judgments regarding projected outcomes and range of loss based on historical experience and recommendations of legal counsel .liabilities for environmental matters require evaluations of relevant environmental regulations and estimates of future remediation alternatives and costs .impairment of long-lived assets and goodwill an impairment of a long-lived asset exists when the asset 2019s carrying amount exceeds its fair value , and is recorded when the carrying amount is not recoverable through cash flows from future operations .a goodwill impairment exists when the carrying amount of goodwill exceeds its fair value .assessments of possible impairments of long-lived assets and goodwill are made when events or changes in circumstances indicate that the carrying value of the asset may not be recoverable through future operations .additionally , testing for possible impairment of goodwill and intangible asset balances is required annually .the amount and timing of any impairment charges based on these assessments require the estimation of future cash flows and the fair market value of the related assets based on management 2019s best estimates of certain key factors , including future selling prices and volumes , operating , raw material , energy and freight costs , and various other projected operating economic factors .as these key factors change in future periods , the company will update its impairment analyses to reflect its latest estimates and projections .under the provisions of accounting standards codification ( asc ) 350 , 201cintangibles 2013 goodwill and other , 201d the testing of goodwill for possible impairment is a two-step process .in the first step , the fair value of the company 2019s reporting units is compared with their carrying value , including goodwill .if fair value exceeds the carrying value , goodwill is not considered to be impaired .if the fair value of a reporting unit is below the carrying value , then step two is performed to measure the amount of the goodwill impairment loss for the reporting unit .this analysis requires the determination of the fair value of all of the individual assets and liabilities of the reporting unit , including any currently unrecognized intangible assets , as if the reporting unit had been purchased on the analysis date .once these fair values have been determined , the implied fair value of the unit 2019s goodwill is calculated as the excess , if any , of the fair value of the reporting unit determined in step one over the fair value of the net assets determined in step two .the carrying value of goodwill is then reduced to this implied value , or to zero if the fair value of the assets exceeds the fair value of the reporting unit , through a goodwill impairment charge .the impairment analysis requires a number of judgments by management .in calculating the estimated fair value of its reporting units in step one , 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 .the company was in compliance with all its debt covenants at december 31 , 2016 and was well below the thresholds stipulated under the covenants as defined in the credit agreements .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 , 2016 , the company held long-term credit ratings of bbb ( stable outlook ) and baa2 ( stable outlook ) by s&p and moody 2019s , respectively .contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2016 , were as follows: .
[['in millions', '2017', '2018', '2019', '2020', '2021', 'thereafter'], ['maturities of long-term debt ( a )', '$ 239', '$ 690', '$ 433', '$ 179', '$ 612', '$ 9161'], ['lease obligations', '119', '91', '69', '51', '38', '125'], ['purchase obligations ( b )', '3165', '635', '525', '495', '460', '2332'], ['total ( c )', '$ 3523', '$ 1416', '$ 1027', '$ 725', '$ 1110', '$ 11618']]
( a ) total debt includes scheduled principal payments only .( b ) includes $ 2 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 .also includes $ 1.1 billion relating to fiber supply agreements assumed in conjunction with the 2016 acquisition of weyerhaeuser's pulp business .( c ) 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 $ 77 million .we consider the undistributed earnings of our foreign subsidiaries as of december 31 , 2016 , to be indefinitely reinvested and , accordingly , no u.s .income taxes have been provided thereon .as of december 31 , 2016 , the amount of cash associated with indefinitely reinvested foreign earnings was approximately $ 620 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 , 2016 , the projected benefit obligation for the company 2019s u.s .defined benefit plans determined under u.s .gaap was approximately $ 3.4 billion higher than the fair value of plan assets .approximately $ 3.0 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 contributions depend on the funding method selected by the company , and the timing of its implementation , as well as on actual demographic data and the targeted funding level .the company continually reassesses the amount and timing of any discretionary contributions and elected to make contributions totaling $ 750 million for both years ended december 31 , 2016 and 2015 .at this time , we do not expect to have any required contributions to our plans in 2017 , although the company may elect to make future voluntary contributions .the timing and amount of future contributions , which could be material , will depend on a number of factors , including the actual earnings and changes in values of plan assets and changes in interest rates .international paper announced a voluntary , limited-time opportunity for former employees who are participants in the retirement plan of international paper company ( the pension plan ) to request early payment of their entire pension plan benefit in the form of a single lump sum payment .the amount of total payments under this program was approximately $ 1.2 billion , and were made from plan trust assets on june 30 , 2016 .based on the level of payments made , settlement accounting rules applied and resulted in a plan remeasurement as of the june 30 , 2016 payment date .as a result of settlement accounting , the company recognized a pro-rata portion of the unamortized net actuarial loss , after remeasurement , resulting in a $ 439 million non-cash charge to the company's earnings in the second quarter of 2016 .additional payments of $ 8 million and $ 9 million were made during the third and fourth quarters , respectively , due to mandatory cash payouts and a small lump sum payout , and the pension plan was subsequently remeasured at september 30 , 2016 and december 31 , 2016 .as a result of settlement accounting , the company recognized non-cash settlement charges of $ 3 million in both the third and fourth quarters of 2016. .
|
in 2016 what was the percent of the contractual obligations for future payments for purchase obligations due in 2017
|
89.8%
|
{
"answer": "89.8%",
"decimal": 0.898,
"type": "percentage"
}
| |
in june 2011 , the fasb issued asu no .2011-05 201ccomprehensive income 2013 presentation of comprehensive income . 201d asu 2011-05 requires comprehensive income , the components of net income , and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements .in both choices , an entity is required to present each component of net income along with total net income , each component of other comprehensive income along with a total for other comprehensive income , and a total amount for comprehensive income .this update eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders' equity .the amendments in this update do not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income .the amendments in this update should be applied retrospectively and is effective for interim and annual reporting periods beginning after december 15 , 2011 .the company adopted this guidance in the first quarter of 2012 .the adoption of asu 2011-05 is for presentation purposes only and had no material impact on the company 2019s consolidated financial statements .3 .inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at both december 29 , 2012 and december 31 , 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 2012 and prior years .the company recorded a reduction to cost of sales of $ 24087 and $ 29554 in fiscal 2012 and fiscal 2010 , respectively .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 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 .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 december 29 , 2012 and december 31 , 2011 , were $ 134258 and $ 126840 , respectively .inventory balance and inventory reserves inventory balances at the end of fiscal 2012 and 2011 were as follows : december 29 , december 31 .
[['', 'december 292012', 'december 312011'], ['inventories at fifo net', '$ 2182419', '$ 1941055'], ['adjustments to state inventories at lifo', '126190', '102103'], ['inventories at lifo net', '$ 2308609', '$ 2043158']]
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 advance auto parts , inc .and subsidiaries notes to the consolidated financial statements december 29 , 2012 , december 31 , 2011 and january 1 , 2011 ( in thousands , except per share data ) .
|
what percent did the inventories at lifo net increase from the beginning of 2011 to the end of 2012?
|
18.9%
|
{
"answer": "18.9%",
"decimal": 0.18899999999999997,
"type": "percentage"
}
|
to find the percentage change one must take the inventories at lifo net of 2012 and subtract it from the inventories at lifo net of 2011 . then take the answer and divide it by the inventories at lifo net of 2011 .
|
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 2016?
|
84
|
{
"answer": "84",
"decimal": 84,
"type": "float"
}
| |
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 would be the balance if the company suffered the potential total tax liability of the 2006 and 2007 irs examination?
|
$ 17966 million
|
{
"answer": "$ 17966 million",
"decimal": 17966000000,
"type": "money"
}
|
the potential tax liability for the 2006 and 2007 irs examination would be 195 million . to find the final balance one would take the balance and subtract this number
|
other corporate special items in addition , other pre-tax corporate special items totaling $ 30 million , $ 0 million and $ 8 million were recorded in 2018 , 2017 and 2016 , respectively .details of these charges were as follows : other corporate items .
[['in millions', '2018', '2017', '2016'], ['smurfit-kappa acquisition proposal costs', '$ 12', '$ 2014', '$ 2014'], ['environmental remediation reserve adjustment', '9', '2014', '2014'], ['legal settlement', '9', '2014', '2014'], ['write-off of certain regulatory pre-engineering costs', '2014', '2014', '8'], ['total', '$ 30', '$ 2014', '$ 8']]
impairments of goodwill no goodwill impairment charges were recorded in 2018 , 2017 or 2016 .net losses on sales and impairments of businesses net losses on sales and impairments of businesses included in special items totaled a pre-tax loss of $ 122 million in 2018 related to the impairment of an intangible asset and fixed assets in the brazil packaging business , a pre-tax loss of $ 9 million in 2017 related to the write down of the long-lived assets of the company's asia foodservice business to fair value and a pre-tax loss of $ 70 million related to severance and the impairment of the ip asia packaging business in 2016 .see note 8 divestitures and impairments on pages 54 and 55 of item 8 .financial statements and supplementary data for further discussion .description of business segments international paper 2019s business segments discussed below are consistent with the internal structure used to manage these businesses .all segments are differentiated on a common product , common customer basis consistent with the business segmentation generally used in the forest products industry .industrial packaging international paper is the largest manufacturer of containerboard in the united states .our u.s .production capacity is over 13 million tons annually .our products include linerboard , medium , whitetop , recycled linerboard , recycled medium and saturating kraft .about 80% ( 80 % ) of our production is converted into corrugated boxes and other packaging by our 179 north american container plants .additionally , we recycle approximately one million tons of occ and mixed and white paper through our 18 recycling plants .our container plants are supported by regional design centers , which offer total packaging solutions and supply chain initiatives .in emea , our operations include one recycled fiber containerboard mill in morocco , a recycled containerboard mill in spain and 26 container plants in france , italy , spain , morocco and turkey .in brazil , our operations include three containerboard mills and four box plants .international paper also produces high quality coated paperboard for a variety of packaging end uses with 428000 tons of annual capacity at our mills in poland and russia .global cellulose fibers our cellulose fibers product portfolio includes fluff , market and specialty pulps .international paper is the largest producer of fluff pulp which is used to make absorbent hygiene products like baby diapers , feminine care , adult incontinence and other non-woven products .our market pulp is used for tissue and paper products .we continue to invest in exploring new innovative uses for our products , such as our specialty pulps , which are used for non-absorbent end uses including textiles , filtration , construction material , paints and coatings , reinforced plastics and more .our products are made in the united states , canada , france , poland , and russia and are sold around the world .international paper facilities have annual dried pulp capacity of about 4 million metric tons .printing papers international paper is one of the world 2019s largest producers of printing and writing papers .the primary product in this segment is uncoated papers .this business produces papers for use in copiers , desktop and laser printers and digital imaging .end-use applications include advertising and promotional materials such as brochures , pamphlets , greeting cards , books , annual reports and direct mail .uncoated papers also produces a variety of grades that are converted by our customers into envelopes , tablets , business forms and file folders .uncoated papers are sold under private label and international paper brand names that include hammermill , springhill , williamsburg , postmark , accent , great white , chamex , ballet , rey , pol , and svetocopy .the mills producing uncoated papers are located in the united states , france , poland , russia , brazil and india .the mills have uncoated paper production capacity of over 4 million tons annually .brazilian operations function through international paper do brasil , ltda , which owns or manages approximately 329000 acres of forestlands in brazil. .
|
considering the other corporate special items in addition , what is the variation observed in the other pre-tax corporate special items during 2017 and 2018 , in millions of dollars?
|
30
|
{
"answer": "30",
"decimal": 30,
"type": "float"
}
|
it is the difference between those values .
|
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 dow jones , and the s&p 500 .the graph assumes that the value of the investment in the common stock of union pacific corporation and each index was $ 100 on december 31 , 2002 , and that all dividends were reinvested .comparison of five-year cumulative return 2002 2003 2004 2005 2006 2007 upc s&p 500 peer group dj trans purchases of equity securities 2013 during 2007 , we repurchased 13266070 shares of our common stock at an average price of $ 115.66 .during the first nine months of 2007 , we repurchased 10639916 shares of our common stock at an average price per share of $ 112.68 .the following table presents common stock repurchases during each month for the fourth quarter of 2007 : period number of shares purchased average paid per total number of shares purchased as part of a publicly announced plan or program maximum number of shares that may yet be purchased under the plan or program .
[['period', 'totalnumber ofsharespurchased[a]', 'averagepricepaid pershare', 'total number of sharespurchased as part of apublicly announcedplan orprogram', 'maximum number ofshares that may yetbe purchased underthe plan orprogram[b]'], ['oct . 1 through oct . 31', '99782', '$ 128.78', '-', '9774279'], ['nov . 1 through nov . 30', '540294', '124.70', '528000', '9246279'], ['dec . 1 through dec . 31', '1986078', '128.53', '1869800', '7376479'], ['total', '2626154', '$ 127.75', '2397800', 'n/a']]
[a] total number of shares purchased during the quarter includes 228354 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 january 30 , 2007 , our board of directors authorized us to repurchase up to 20 million shares of our common stock through december 31 , 2009 .we may make these repurchases 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 december?
|
76%
|
{
"answer": "76%",
"decimal": 0.76,
"type": "percentage"
}
| |
stock-based compensation 2013 we have several stock-based compensation plans under which employees and non-employee directors receive stock options , nonvested retention shares , and nonvested stock units .we refer to the nonvested shares and stock units collectively as 201cretention awards 201d .we issue treasury shares to cover option exercises and stock unit vestings , while new shares are issued when retention shares vest .we adopted fasb statement no .123 ( r ) , share-based payment ( fas 123 ( r ) ) , on january 1 , 2006 .fas 123 ( r ) requires us to measure and recognize compensation expense for all stock-based awards made to employees and directors , including stock options .compensation expense is based on the calculated fair value of the awards as measured at the grant date and is expensed ratably over the service period of the awards ( generally the vesting period ) .the fair value of retention awards is the stock price on the date of grant , while the fair value of stock options is determined by using the black-scholes option pricing model .we elected to use the modified prospective transition method as permitted by fas 123 ( r ) and did not restate financial results for prior periods .we did not make an adjustment for the cumulative effect of these estimated forfeitures , as the impact was not material .as a result of the adoption of fas 123 ( r ) , we recognized expense for stock options in 2006 , in addition to retention awards , which were expensed prior to 2006 .stock-based compensation expense for the year ended december 31 , 2006 was $ 22 million , after tax , or $ 0.08 per basic and diluted share .this includes $ 9 million for stock options and $ 13 million for retention awards for 2006 .before taxes , stock-based compensation expense included $ 14 million for stock options and $ 21 million for retention awards for 2006 .we recorded $ 29 million of excess tax benefits as an inflow of financing activities in the consolidated statement of cash flows for the year ended december 31 , 2006 .prior to the adoption of fas 123 ( r ) , we applied the recognition and measurement principles of accounting principles board opinion no .25 , accounting for stock issued to employees , and related interpretations .no stock- based employee compensation expense related to stock option grants was reflected in net income , as all options granted under those plans had a grant price equal to the market value of our common stock on the date of grant .stock-based compensation expense related to retention shares , stock units , and other incentive plans was reflected in net income .the following table details the effect on net income and earnings per share had compensation expense for all of our stock-based awards , including stock options , been recorded in the years ended december 31 , 2005 and 2004 based on the fair value method under fasb statement no .123 , accounting for stock-based compensation .pro forma stock-based compensation expense year ended december 31 , millions of dollars , except per share amounts 2005 2004 .
[['pro forma stock-based compensation expense', 'pro forma stock-based compensation expense', ''], ['millions of dollars except per share amounts', '2005', '2004'], ['net income as reported', '$ 1026', '$ 604'], ['stock-based employee compensation expense reported in net income net of tax', '13', '13'], ['total stock-based employee compensation expense determined under fair value 2013based method for allawards net of tax [a]', '-50 ( 50 )', '-35 ( 35 )'], ['pro forma net income', '$ 989', '$ 582'], ['earnings per share 2013 basic as reported', '$ 3.89', '$ 2.33'], ['earnings per share 2013 basic pro forma', '$ 3.75', '$ 2.25'], ['earnings per share 2013 diluted as reported', '$ 3.85', '$ 2.30'], ['earnings per share 2013 diluted pro forma', '$ 3.71', '$ 2.22']]
[a] stock options for executives granted in 2003 and 2002 included a reload feature .this reload feature allowed executives to exercise their options using shares of union pacific corporation common stock that they already owned and obtain a new grant of options in the amount of the shares used for exercise plus any shares withheld for tax purposes .the reload feature of these option grants could only be exercised if the .
|
what was the percentage difference of earnings per share 2013 basic pro forma compared to earnings per share 2013 diluted pro forma in 2004?
|
1%
|
{
"answer": "1%",
"decimal": 0.01,
"type": "percentage"
}
| |
contracts as of december 31 , 2006 , which all mature in 2007 .forward contract notional amounts presented below are expressed in the stated currencies ( in thousands ) .forward currency contracts: .
[['', '( pay ) /receive'], ['u.s . dollars', '-114000 ( 114000 )'], ['euros', '-4472 ( 4472 )'], ['singapore dollars', '37180'], ['canadian dollars', '81234'], ['malaysian ringgits', '85963']]
a movement of 10% ( 10 % ) in the value of the u.s .dollar against foreign currencies would impact our expected net earnings by approximately $ 0.1 million .item 8 .financial statements and supplementary data the financial statements and supplementary data required by this item are included herein , commencing on page f-1 .item 9 .changes in and disagreements with accountants on accounting and financial disclosure item 9a .controls and procedures ( a ) evaluation of disclosure controls and procedures our management , with the participation of our chief executive officer and chief financial officer , evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this report .based on that evaluation , the chief executive officer and chief financial officer concluded that our disclosure controls and procedures as of the end of the period covered by this report are functioning effectively to provide reasonable assurance that the information required to be disclosed by us in reports filed under the securities exchange act of 1934 is ( i ) recorded , processed , summarized and reported within the time periods specified in the sec 2019s rules and forms and ( ii ) accumulated and communicated to our management , including the chief executive officer and chief financial officer , as appropriate to allow timely decisions regarding disclosure .a controls system cannot provide absolute assurance , however , that the objectives of the controls system are met , and no evaluation of controls can provide absolute assurance that all control issues and instances of fraud , if any , within a company have been detected .( b ) management 2019s report on internal control over financial reporting our management 2019s report on internal control over financial reporting is set forth on page f-2 of this annual report on form 10-k and is incorporated by reference herein .( c ) change in internal control over financial reporting no change in our internal control over financial reporting occurred during our most recent fiscal quarter that has materially affected , or is reasonably likely to materially affect , our internal control over financial reporting .item 9b .other information .
|
what is a rough estimate of the ratio of securities given to securities received?
|
3/5
|
{
"answer": "3/5",
"decimal": null,
"type": "open_ended_answer"
}
|
to find the ratio , one must add up the securities received by given . then one must divide the total securities received by the total securities given .
|
through current cash balances and cash from oper- ations .additionally , the company has existing credit facilities totaling $ 2.5 billion .the company was in compliance with all its debt covenants at december 31 , 2012 .the company 2019s financial covenants require the maintenance of a minimum net worth of $ 9 billion and a total debt-to- capital ratio of less than 60% ( 60 % ) .net worth is defined as the sum of common stock , paid-in capital and retained earnings , less treasury stock plus any cumulative goodwill impairment charges .the calcu- lation also excludes accumulated other compre- hensive income/loss and nonrecourse financial liabilities of special purpose entities .the total debt- to-capital ratio is defined as total debt divided by the sum of total debt plus net worth .at december 31 , 2012 , international paper 2019s net worth was $ 13.9 bil- lion , and the total-debt-to-capital ratio was 42% ( 42 % ) .the company will continue to rely upon debt and capital markets for the majority of any necessary long-term funding not provided by operating cash flows .funding decisions will be guided by our capi- tal structure planning objectives .the primary goals of the company 2019s capital structure planning are to maximize financial flexibility and preserve liquidity while reducing interest expense .the majority of international paper 2019s debt is accessed through global public capital markets where we have a wide base of investors .maintaining an investment grade credit rating is an important element of international paper 2019s financing strategy .at december 31 , 2012 , the company held long-term credit ratings of bbb ( stable outlook ) and baa3 ( stable outlook ) by s&p and moody 2019s , respectively .contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2012 , were as follows: .
[['in millions', '2013', '2014', '2015', '2016', '2017', 'thereafter'], ['maturities of long-term debt ( a )', '$ 444', '$ 708', '$ 479', '$ 571', '$ 216', '$ 7722'], ['debt obligations with right of offset ( b )', '2014', '2014', '2014', '5173', '2014', '2014'], ['lease obligations', '198', '136', '106', '70', '50', '141'], ['purchase obligations ( c )', '3213', '828', '722', '620', '808', '2654'], ['total ( d )', '$ 3855', '$ 1672', '$ 1307', '$ 6434', '$ 1074', '$ 10517']]
( a ) total debt includes scheduled principal payments only .( b ) represents debt obligations borrowed from non-consolidated variable interest entities for which international paper has , and intends to effect , a legal right to offset these obligations with investments held in the entities .accordingly , in its con- solidated balance sheet at december 31 , 2012 , international paper has offset approximately $ 5.2 billion of interests in the entities against this $ 5.2 billion of debt obligations held by the entities ( see note 11 variable interest entities and preferred securities of subsidiaries on pages 69 through 72 in item 8 .financial statements and supplementary data ) .( c ) includes $ 3.6 billion relating to fiber supply agreements entered into at the time of the 2006 transformation plan forest- land sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business .( d ) not included in the above table due to the uncertainty as to the amount and timing of the payment are unrecognized tax bene- fits of approximately $ 620 million .we consider the undistributed earnings of our for- eign subsidiaries as of december 31 , 2012 , to be indefinitely reinvested and , accordingly , no u.s .income taxes have been provided thereon .as of december 31 , 2012 , the amount of cash associated with indefinitely reinvested foreign earnings was approximately $ 840 million .we do not anticipate the need to repatriate funds to the united states to sat- isfy domestic liquidity needs arising in the ordinary course of business , including liquidity needs asso- ciated with our domestic debt service requirements .pension obligations and funding at december 31 , 2012 , the projected benefit obliga- tion for the company 2019s u.s .defined benefit plans determined under u.s .gaap was approximately $ 4.1 billion higher than the fair value of plan assets .approximately $ 3.7 billion of this amount relates to plans that are subject to minimum funding require- ments .under current irs funding rules , the calcu- lation of minimum funding requirements differs from the calculation of the present value of plan benefits ( the projected benefit obligation ) for accounting purposes .in december 2008 , the worker , retiree and employer recovery act of 2008 ( wera ) was passed by the u.s .congress which provided for pension funding relief and technical corrections .funding contributions depend on the funding method selected by the company , and the timing of its implementation , as well as on actual demo- graphic data and the targeted funding level .the company continually reassesses the amount and timing of any discretionary contributions and elected to make voluntary contributions totaling $ 44 million and $ 300 million for the years ended december 31 , 2012 and 2011 , respectively .at this time , we expect that required contributions to its plans in 2013 will be approximately $ 31 million , although the company may elect to make future voluntary contributions .the timing and amount of future contributions , which could be material , will depend on a number of factors , including the actual earnings and changes in values of plan assets and changes in interest rates .ilim holding s.a .shareholder 2019s agreement in october 2007 , in connection with the for- mation of the ilim holding s.a .joint venture , international paper entered into a share- holder 2019s agreement that includes provisions relating to the reconciliation of disputes among the partners .this agreement provides that at .
|
what was the ratio of the company discretionary contributions a to the retirement plan for 2012 compared to 2011
|
14.7%
|
{
"answer": "14.7%",
"decimal": 0.147,
"type": "percentage"
}
| |
business subsequent to the acquisition .the liabilities for these payments are classified as level 3 liabilities because the related fair value measurement , which is determined using an income approach , includes significant inputs not observable in the market .financial assets and liabilities not measured at fair value our debt is reflected on the consolidated balance sheets at cost .based on market conditions as of december 31 , 2018 and 2017 , the fair value of our credit agreement borrowings reasonably approximated the carrying values of $ 1.7 billion and $ 2.0 billion , respectively .in addition , based on market conditions , the fair values of the outstanding borrowings under the receivables facility reasonably approximated the carrying values of $ 110 million and $ 100 million at december 31 , 2018 and december 31 , 2017 , respectively .as of december 31 , 2018 and december 31 , 2017 , the fair values of the u.s .notes ( 2023 ) were approximately $ 574 million and $ 615 million , respectively , compared to a carrying value of $ 600 million at each date .as of december 31 , 2018 and december 31 , 2017 , the fair values of the euro notes ( 2024 ) were approximately $ 586 million and $ 658 million compared to carrying values of $ 573 million and $ 600 million , respectively .as of december 31 , 2018 , the fair value of the euro notes ( 2026/28 ) approximated the carrying value of $ 1.1 billion .the fair value measurements of the borrowings under our credit agreement and receivables facility are classified as level 2 within the fair value hierarchy since they are determined based upon significant inputs observable in the market , including interest rates on recent financing transactions with similar terms and maturities .we estimated the fair value by calculating the upfront cash payment a market participant would require at december 31 , 2018 to assume these obligations .the fair value of our u.s .notes ( 2023 ) is classified as level 1 within the fair value hierarchy since it is determined based upon observable market inputs including quoted market prices in an active market .the fair values of our euro notes ( 2024 ) and euro notes ( 2026/28 ) are determined based upon observable market inputs including quoted market prices in markets that are not active , and therefore are classified as level 2 within the fair value hierarchy .note 13 .commitments and contingencies operating leases we are obligated under noncancelable operating leases for corporate office space , warehouse and distribution facilities , trucks and certain equipment .the future minimum lease commitments under these leases at december 31 , 2018 are as follows ( in thousands ) : years ending december 31: .
[['2019', '$ 294269'], ['2020', '256172'], ['2021', '210632'], ['2022', '158763'], ['2023', '131518'], ['thereafter', '777165'], ['future minimum lease payments', '$ 1828519']]
rental expense for operating leases was approximately $ 300 million , $ 247 million , and $ 212 million during the years ended december 31 , 2018 , 2017 and 2016 , respectively .we guarantee the residual values of the majority of our truck and equipment operating leases .the residual values decline over the lease terms to a defined percentage of original cost .in the event the lessor does not realize the residual value when a piece of equipment is sold , we would be responsible for a portion of the shortfall .similarly , if the lessor realizes more than the residual value when a piece of equipment is sold , we would be paid the amount realized over the residual value .had we terminated all of our operating leases subject to these guarantees at december 31 , 2018 , our portion of the guaranteed residual value would have totaled approximately $ 76 million .we have not recorded a liability for the guaranteed residual value of equipment under operating leases as the recovery on disposition of the equipment under the leases is expected to approximate the guaranteed residual value .litigation and related contingencies we have certain contingencies resulting from litigation , claims and other commitments and are subject to a variety of environmental and pollution control laws and regulations incident to the ordinary course of business .we currently expect that the resolution of such contingencies will not materially affect our financial position , results of operations or cash flows. .
|
what was the cumulative total rental expense for operating leases from 2016 to 2018
|
759
|
{
"answer": "759",
"decimal": 759,
"type": "float"
}
| |
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 is the ratio of securities remaining to securities issued?
|
2.43:1
|
{
"answer": "2.43:1",
"decimal": 2.43,
"type": "open_ended_answer"
}
| |
2017 form 10-k | 115 and $ 1088 million , respectively , were primarily comprised of loans to dealers , and the spc 2019s liabilities of $ 1106 million and $ 1087 million , respectively , were primarily comprised of commercial paper .the assets of the spc are not available to pay cat financial 2019s creditors .cat financial may be obligated to perform under the guarantee if the spc experiences losses .no loss has been experienced or is anticipated under this loan purchase agreement .cat financial is party to agreements in the normal course of business with selected customers and caterpillar dealers in which they commit to provide a set dollar amount of financing on a pre- approved basis .they also provide lines of credit to certain customers and caterpillar dealers , of which a portion remains unused as of the end of the period .commitments and lines of credit generally have fixed expiration dates or other termination clauses .it has been cat financial 2019s experience that not all commitments and lines of credit will be used .management applies the same credit policies when making commitments and granting lines of credit as it does for any other financing .cat financial does not require collateral for these commitments/ lines , but if credit is extended , collateral may be required upon funding .the amount of the unused commitments and lines of credit for dealers as of december 31 , 2017 and 2016 was $ 10993 million and $ 12775 million , respectively .the amount of the unused commitments and lines of credit for customers as of december 31 , 2017 and 2016 was $ 3092 million and $ 3340 million , respectively .our product warranty liability is determined by applying historical claim rate experience to the current field population and dealer inventory .generally , historical claim rates are based on actual warranty experience for each product by machine model/engine size by customer or dealer location ( inside or outside north america ) .specific rates are developed for each product shipment month and are updated monthly based on actual warranty claim experience. .
[['( millions of dollars )', '2017', '2016'], ['warranty liability january 1', '$ 1258', '$ 1354'], ['reduction in liability ( payments )', '-860 ( 860 )', '-909 ( 909 )'], ['increase in liability ( new warranties )', '1021', '813'], ['warranty liability december 31', '$ 1419', '$ 1258']]
22 .environmental and legal matters the company is regulated by federal , state and international environmental laws governing our use , transport and disposal of substances and control of emissions .in addition to governing our manufacturing and other operations , these laws often impact the development of our products , including , but not limited to , required compliance with air emissions standards applicable to internal combustion engines .we have made , and will continue to make , significant research and development and capital expenditures to comply with these emissions standards .we are engaged in remedial activities at a number of locations , often with other companies , pursuant to federal and state laws .when it is probable we will pay remedial costs at a site , and those costs can be reasonably estimated , the investigation , remediation , and operating and maintenance costs are accrued against our earnings .costs are accrued based on consideration of currently available data and information with respect to each individual site , including available technologies , current applicable laws and regulations , and prior remediation experience .where no amount within a range of estimates is more likely , we accrue the minimum .where multiple potentially responsible parties are involved , we consider our proportionate share of the probable costs .in formulating the estimate of probable costs , we do not consider amounts expected to be recovered from insurance companies or others .we reassess these accrued amounts on a quarterly basis .the amount recorded for environmental remediation is not material and is included in accrued expenses .we believe there is no more than a remote chance that a material amount for remedial activities at any individual site , or at all the sites in the aggregate , will be required .on january 7 , 2015 , the company received a grand jury subpoena from the u.s .district court for the central district of illinois .the subpoena requests documents and information from the company relating to , among other things , financial information concerning u.s .and non-u.s .caterpillar subsidiaries ( including undistributed profits of non-u.s .subsidiaries and the movement of cash among u.s .and non-u.s .subsidiaries ) .the company has received additional subpoenas relating to this investigation requesting additional documents and information relating to , among other things , the purchase and resale of replacement parts by caterpillar inc .and non-u.s .caterpillar subsidiaries , dividend distributions of certain non-u.s .caterpillar subsidiaries , and caterpillar sarl and related structures .on march 2-3 , 2017 , agents with the department of commerce , the federal deposit insurance corporation and the internal revenue service executed search and seizure warrants at three facilities of the company in the peoria , illinois area , including its former corporate headquarters .the warrants identify , and agents seized , documents and information related to , among other things , the export of products from the united states , the movement of products between the united states and switzerland , the relationship between caterpillar inc .and caterpillar sarl , and sales outside the united states .it is the company 2019s understanding that the warrants , which concern both tax and export activities , are related to the ongoing grand jury investigation .the company is continuing to cooperate with this investigation .the company is unable to predict the outcome or reasonably estimate any potential loss ; however , we currently believe that this matter will not have a material adverse effect on the company 2019s consolidated results of operations , financial position or liquidity .on march 20 , 2014 , brazil 2019s administrative council for economic defense ( cade ) published a technical opinion which named 18 companies and over 100 individuals as defendants , including two subsidiaries of caterpillar inc. , mge - equipamentos e servi e7os ferrovi e1rios ltda .( mge ) and caterpillar brasil ltda .the publication of the technical opinion opened cade 2019s official administrative investigation into allegations that the defendants participated in anticompetitive bid activity for the construction and maintenance of metro and train networks in brazil .while companies cannot be .
|
what is the net change in warranty liability during 2016?
|
-96
|
{
"answer": "-96",
"decimal": -96,
"type": "float"
}
| |
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 timberlands for $ 2.38 billion .the total consideration 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 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 , 2014 and 2013 , the fair value of the notes was $ 2.27 billion and $ 2.62 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 in the accompanying consolidated 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 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 , 2014 and 2013 , the fair value of this debt was $ 2.16 billion and $ 2.49 billion , respectively .this debt is classified as level 2 within the fair value hierarchy , which is further defined in note 14 .during 2012 , the credit ratings for two letter of credit banks that support $ 1.0 billion of the 2007 monetized notes were downgraded below the specified threshold .these letters of credit were successfully replaced by other qualifying institutions .fees of $ 8 million were incurred in connection with these replacements .activity between the company and the 2007 financing entities was as follows: .
[['in millions', '2014', '2013', '2012'], ['revenue ( loss ) ( a )', '$ 26', '$ 27', '$ 28'], ['expense ( b )', '25', '29', '28'], ['cash receipts ( c )', '7', '8', '12'], ['cash payments ( d )', '18', '21', '22']]
( a ) the revenue is included in interest expense , net in the accompanying consolidated statement of operations and includes approximately $ 19 million , $ 19 million and $ 17 million for the years ended december 31 , 2014 , 2013 and 2012 , respectively , of accretion income for the amortization of the purchase accounting adjustment of 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 $ 7 million , $ 7 million and $ 6 million for the years ended december 31 , 2014 , 2013 and 2012 , 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 .preferred securities of subsidiaries in march 2003 , southeast timber , inc .( southeast timber ) , a consolidated subsidiary of international paper , issued $ 150 million of preferred securities to a private investor with future dividend payments based on libor .southeast timber , which through a subsidiary initially held approximately 1.50 million acres of forestlands in the southern united states , was international paper 2019s primary vehicle for sales of southern forestlands .as of december 31 , 2014 , substantially all of these forestlands have been sold .on march 27 , 2013 , southeast timber redeemed its class a common shares owned by the private investor for $ 150 million .distributions paid to the third-party investor were $ 1 million and $ 6 million in 2013 and 2012 , respectively .the expense related to these preferred securities is shown in net earnings ( loss ) attributable to noncontrolling interests in the accompanying consolidated statement of operations .note 13 debt and lines of credit 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 .
|
based on the review of the activity between the company and the 2007 financing entities what was the ratio of the cash payments to cash receipts in 2012
|
1.83
|
{
"answer": "1.83",
"decimal": 1.83,
"type": "float"
}
| |
generate cash without additional external financings .free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities .the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : millions 2014 2013 2012 .
[['millions', '2014', '2013', '2012'], ['cash provided by operating activities', '$ 7385', '$ 6823', '$ 6161'], ['cash used in investing activities', '-4249 ( 4249 )', '-3405 ( 3405 )', '-3633 ( 3633 )'], ['dividends paid', '-1632 ( 1632 )', '-1333 ( 1333 )', '-1146 ( 1146 )'], ['free cash flow', '$ 1504', '$ 2085', '$ 1382']]
2015 outlook f0b7 safety 2013 operating a safe railroad benefits all our constituents : our employees , customers , shareholders and the communities we serve .we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , quality control , training and employee engagement , and targeted capital investments .we will continue using and expanding the deployment of total safety culture and courage to care throughout our operations , which allows us to identify and implement best practices for employee and operational safety .we will continue our efforts to increase detection of rail defects ; improve or close crossings ; and educate the public and law enforcement agencies about crossing safety through a combination of our own programs ( including risk assessment strategies ) , industry programs and local community activities across our network .f0b7 network operations 2013 in 2015 , we will continue to add resources to support growth , improve service , and replenish our surge capability .f0b7 fuel prices 2013 with the dramatic drop in fuel prices at the end of 2014 , there is even more uncertainty around the projections of fuel prices .we again could see volatile fuel prices during the year , as they are sensitive to global and u.s .domestic demand , refining capacity , geopolitical events , weather conditions and other factors .as prices fluctuate there will be a timing impact on earnings , as our fuel surcharge programs trail fluctuations in fuel price by approximately two months .lower fuel prices could have a positive impact on the economy by increasing consumer discretionary spending that potentially could increase demand for various consumer products that we transport .alternatively , lower fuel prices will likely have a negative impact on other commodities such as coal , frac sand and crude oil shipments .f0b7 capital plan 2013 in 2015 , we expect our capital plan to be approximately $ 4.3 billion , including expenditures for ptc and 218 locomotives .the capital plan may be revised if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments .( see further discussion in this item 7 under liquidity and capital resources 2013 capital plan. ) f0b7 financial expectations 2013 we expect the overall u.s .economy to continue to improve at a moderate pace .one of the biggest uncertainties is the outlook for energy markets , which will bring both challenges and opportunities .on balance , we expect to see positive volume growth for 2015 versus the prior year .in the current environment , we expect continued margin improvement driven by continued pricing opportunities , ongoing productivity initiatives and the ability to leverage our resources as we improve the fluidity of our network. .
|
what was the percentage change in free cash flow from 2012 to 2013?
|
51%
|
{
"answer": "51%",
"decimal": 0.51,
"type": "percentage"
}
| |
note 9 .commitments and contingencies operating leases we are obligated under noncancelable operating leases for corporate office space , warehouse and distribution facilities , trucks and certain equipment .the future minimum lease commitments under these leases at december 31 , 2009 are as follows ( in thousands ) : years ending december 31: .
[['2010', '$ 55178'], ['2011', '45275'], ['2012', '36841'], ['2013', '30789'], ['2014', '22094'], ['thereafter', '59263'], ['future minimum lease payments', '$ 249440']]
rental expense for operating leases was approximately $ 57.2 million , $ 49.0 million and $ 26.6 million during the years ended december 31 , 2009 , 2008 and 2007 , respectively .we guarantee the residual values of the majority of our truck and equipment operating leases .the residual values decline over the lease terms to a defined percentage of original cost .in the event the lessor does not realize the residual value when a piece of equipment is sold , we would be responsible for a portion of the shortfall .similarly , if the lessor realizes more than the residual value when a piece of equipment is sold , we would be paid the amount realized over the residual value .had we terminated all of our operating leases subject to these guarantees at december 31 , 2009 , the guaranteed residual value would have totaled approximately $ 27.8 million .litigation and related contingencies in december 2005 and may 2008 , ford global technologies , llc filed complaints with the international trade commission against us and others alleging that certain aftermarket parts imported into the u.s .infringed on ford design patents .the parties settled these matters in april 2009 pursuant to a settlement arrangement that expires in september 2011 .pursuant to the settlement , we ( and our designees ) became the sole distributor in the united states of aftermarket automotive parts that correspond to ford collision parts that are covered by a united states design patent .we have paid ford an upfront fee for these rights and will pay a royalty for each such part we sell .the amortization of the upfront fee and the royalty expenses are reflected in cost of goods sold on the accompanying consolidated statements of income .we also have certain other contingencies resulting from litigation , claims and other commitments and are subject to a variety of environmental and pollution control laws and regulations incident to the ordinary course of business .we currently expect that the resolution of such contingencies will not materially affect our financial position , results of operations or cash flows .note 10 .business combinations on october 1 , 2009 , we acquired greenleaf auto recyclers , llc ( 201cgreenleaf 201d ) from ssi for $ 38.8 million , net of cash acquired .greenleaf is the entity through which ssi operated its late model automotive parts recycling business .we recorded a gain on bargain purchase for the greenleaf acquisition totaling $ 4.3 million , which is .
|
in 2009 what was the percent of the total future minimum lease commitments and contingencies for operating leases that was due in 2012
|
14.8%
|
{
"answer": "14.8%",
"decimal": 0.14800000000000002,
"type": "percentage"
}
| |
the following is a schedule of future minimum rental payments required under long-term operating leases at october 30 , 2010 : fiscal years operating leases .
[['fiscal years', 'operating leases'], ['2011', '$ 21871'], ['2012', '12322'], ['2013', '9078'], ['2014', '6381'], ['2015', '5422'], ['later years', '30655'], ['total', '$ 85729']]
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 $ 20.5 million in fiscal 2010 , $ 21.5 million in fiscal 2009 and $ 22.6 million in fiscal 2008 .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 was $ 11.7 million in fiscal 2010 , $ 10.9 million in fiscal 2009 and $ 13.9 million in fiscal 2008 .during fiscal 2009 , the measurement date of the plan 2019s funded status was changed from september 30 to the company 2019s fiscal year end .non-u.s .plan disclosures 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 30 , 2010 and october 31 , 2009 .analog devices , inc .notes to consolidated financial statements 2014 ( continued ) .
|
what was the average percentage that the lease expenses decreased from 2011 to 2013
|
35%
|
{
"answer": "35%",
"decimal": 0.35,
"type": "percentage"
}
|
in order to find the average percentage decrease for this 3 year period one must find the change in percent for each year . this is calculated by subtracting the initial expense by the expense for the next year and then dividing the answer by the initial expense . then one has to find the average for the years .
|
kimco realty corporation and subsidiaries notes to consolidated financial statements , continued the units consisted of ( i ) approximately 81.8 million preferred a units par value $ 1.00 per unit , which pay the holder a return of 7.0% ( 7.0 % ) per annum on the preferred a par value and are redeemable for cash by the holder at any time after one year or callable by the company any time after six months and contain a promote feature based upon an increase in net operating income of the properties capped at a 10.0% ( 10.0 % ) increase , ( ii ) 2000 class a preferred units , par value $ 10000 per unit , which pay the holder a return equal to libor plus 2.0% ( 2.0 % ) per annum on the class a preferred par value and are redeemable for cash by the holder at any time after november 30 , 2010 , ( iii ) 2627 class b-1 preferred units , par value $ 10000 per unit , which pay the holder a return equal to 7.0% ( 7.0 % ) per annum on the class b-1 preferred par value and are redeemable by the holder at any time after november 30 , 2010 , for cash or at the company 2019s option , shares of the company 2019s common stock , equal to the cash redemption amount , as defined , ( iv ) 5673 class b-2 preferred units , par value $ 10000 per unit , which pay the holder a return equal to 7.0% ( 7.0 % ) per annum on the class b-2 preferred par value and are redeemable for cash by the holder at any time after november 30 , 2010 , and ( v ) 640001 class c downreit units , valued at an issuance price of $ 30.52 per unit which pay the holder a return at a rate equal to the company 2019s common stock dividend and are redeemable by the holder at any time after november 30 , 2010 , for cash or at the company 2019s option , shares of the company 2019s common stock equal to the class c cash amount , as defined .the following units have been redeemed as of december 31 , 2010 : redeemed par value redeemed ( in millions ) redemption type .
[['type', 'units redeemed', 'par value redeemed ( in millions )', 'redemption type'], ['preferred a units', '2200000', '$ 2.2', 'cash'], ['class a preferred units', '2000', '$ 20.0', 'cash'], ['class b-1 preferred units', '2438', '$ 24.4', 'cash'], ['class b-2 preferred units', '5576', '$ 55.8', 'cash/charitable contribution'], ['class c downreit units', '61804', '$ 1.9', 'cash']]
noncontrolling interest relating to the remaining units was $ 110.4 million and $ 113.1 million as of december 31 , 2010 and 2009 , respectively .during 2006 , the company acquired two shopping center properties located in bay shore and centereach , ny .included in noncontrolling interests was approximately $ 41.6 million , including a discount of $ 0.3 million and a fair market value adjustment of $ 3.8 million , in redeemable units ( the 201credeemable units 201d ) , issued by the company in connection with these transactions .the prop- erties were acquired through the issuance of $ 24.2 million of redeemable units , which are redeemable at the option of the holder ; approximately $ 14.0 million of fixed rate redeemable units and the assumption of approximately $ 23.4 million of non-recourse debt .the redeemable units consist of ( i ) 13963 class a units , par value $ 1000 per unit , which pay the holder a return of 5% ( 5 % ) per annum of the class a par value and are redeemable for cash by the holder at any time after april 3 , 2011 , or callable by the company any time after april 3 , 2016 , and ( ii ) 647758 class b units , valued at an issuance price of $ 37.24 per unit , which pay the holder a return at a rate equal to the company 2019s common stock dividend and are redeemable by the holder at any time after april 3 , 2007 , for cash or at the option of the company for common stock at a ratio of 1:1 , or callable by the company any time after april 3 , 2026 .the company is restricted from disposing of these assets , other than through a tax free transaction , until april 2016 and april 2026 for the centereach , ny , and bay shore , ny , assets , respectively .during 2007 , 30000 units , or $ 1.1 million par value , of theclass bunits were redeemed by the holder in cash at the option of the company .noncontrolling interest relating to the units was $ 40.4 million and $ 40.3 million as of december 31 , 2010 and 2009 , respectively .noncontrolling interests also includes 138015 convertible units issued during 2006 , by the company , which were valued at approxi- mately $ 5.3 million , including a fair market value adjustment of $ 0.3 million , related to an interest acquired in an office building located in albany , ny .these units are redeemable at the option of the holder after one year for cash or at the option of the company for the company 2019s common stock at a ratio of 1:1 .the holder is entitled to a distribution equal to the dividend rate of the company 2019s common stock .the company is restricted from disposing of these assets , other than through a tax free transaction , until january 2017. .
|
what is the mathematical range of the five different classes of units redeemed , in millions?
|
2198000
|
{
"answer": "2198000",
"decimal": 2198000,
"type": "float"
}
| |
for fiscal year 2005 , the effective tax rate includes the impact of $ 11.6 million tax expense associated with repatriation of approximately $ 185.0 million of foreign earnings under the provisions of the american jobs creation act of 2004 .for fiscal year 2004 , the effective tax rate reflects the tax benefit derived from higher earnings in low-tax jurisdictions .during fiscal year 2006 , primarily due to a tax accounting method change , there was a decrease of $ 83.2 million in the current deferred tax assets , and a corresponding increase in non-current deferred tax assets .in the third quarter of fiscal year 2006 , we changed our tax accounting method on our tax return for fiscal year 2005 with respect to the current portion of deferred revenue to follow the recognition of revenue under u.s .generally accepted accounting principles .this accounting method change , as well as other adjustments made to our taxable income upon the filing of the fiscal year 2005 tax return , resulted in an increase in our operating loss ( nol ) carryforwards .in may 2006 , the tax increase prevention and reconciliation act of 2005 was enacted , which provides a three-year exception to current u.s .taxation of certain foreign intercompany income .this provision will first apply to synopsys in fiscal year 2007 .management estimates that had such provisions been applied for fiscal 2006 , our income tax expense would have been reduced by approximately $ 3 million .in december 2006 , the tax relief and health care act of 2006 was enacted , which retroactively extended the research and development credit from january 1 , 2006 .as a result , we will record an expected increase in our fiscal 2006 research and development credit of between $ 1.5 million and $ 1.8 million in the first quarter of fiscal 2007 .revision of prior year financial statements .as part of our remediation of the material weakness in internal control over financial reporting identified in fiscal 2005 relating to accounting for income taxes we implemented additional internal control and review procedures .through such procedures , in the fourth quarter of fiscal 2006 , we identified four errors totaling $ 8.2 million which affected our income tax provision in fiscal years 2001 through 2005 .we concluded that these errors were not material to any prior year financial statements .although the errors are not material to prior periods , we elected to revise prior year financial statements to correct such errors .the fiscal periods in which the errors originated , and the resulting change in provision ( benefit ) for income taxes for each year , are reflected in the following table : year ended october 31 ( in thousands ) .
[['2001', '2002', '2003', '2004', '2005'], ['$ 205', '$ 1833', '$ 5303', '$ -748 ( 748 )', '$ 1636']]
the errors were as follows : ( 1 ) synopsys inadvertently provided a $ 1.4 million tax benefit for the write- off of goodwill relating to an acquisition in fiscal 2002 ; ( 2 ) synopsys did not accrue interest and penalties for certain foreign tax contingency items in the amount of $ 3.2 million ; ( 3 ) synopsys made certain computational errors relating to foreign dividends of $ 2.3 million ; and ( 4 ) synopsys did not record a valuation allowance relating to certain state tax credits of $ 1.3 million .as result of this revision , non-current deferred tax assets decreased by $ 8.1 million and current taxes payable increased by $ 0.2 million .retained earnings decreased by $ 8.2 million and additional paid in capital decreased by $ 0.1 million .see item 9a .controls and procedures for a further discussion of our remediation of the material weakness .tax effects of stock awards .in november 2005 , fasb issued a staff position ( fsp ) on fas 123 ( r ) -3 , transition election related to accounting for the tax effects of share-based payment awards .effective upon issuance , this fsp describes an alternative transition method for calculating the tax effects of share-based compensation pursuant to sfas 123 ( r ) .the alternative transition method includes simplified methods to establish the beginning balance of the additional paid-in capital pool ( apic pool ) related to the tax effects of employee stock based compensation , and to determine the subsequent impact on the apic pool and the statement of cash flows of the tax effects of employee share-based compensation .
|
what is the percentual increase in the resulting change in provision for income taxes caused by errors during 2002 and 2003?
|
189%
|
{
"answer": "189%",
"decimal": 1.89,
"type": "percentage"
}
|
it is the 2003 value divided by the 2002 one then turned into a percentage .
|
in april 2009 , the fasb issued additional guidance under asc 820 which provides guidance on estimat- ing the fair value of an asset or liability ( financial or nonfinancial ) when the volume and level of activity for the asset or liability have significantly decreased , and on identifying transactions that are not orderly .the application of the requirements of this guidance did not have a material effect on the accompanying consolidated financial statements .in august 2009 , the fasb issued asu 2009-05 , 201cmeasuring liabilities at fair value , 201d which further amends asc 820 by providing clarification for cir- cumstances in which a quoted price in an active market for the identical liability is not available .the company included the disclosures required by this guidance in the accompanying consolidated financial statements .accounting for uncertainty in income taxes in june 2006 , the fasb issued guidance under asc 740 , 201cincome taxes 201d ( formerly fin 48 ) .this guid- ance prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in tax returns .specifically , the financial statement effects of a tax position may be recognized only when it is determined that it is 201cmore likely than not 201d that , based on its technical merits , the tax position will be sustained upon examination by the relevant tax authority .the amount recognized shall be measured as the largest amount of tax benefits that exceed a 50% ( 50 % ) probability of being recognized .this guidance also expands income tax disclosure requirements .international paper applied the provisions of this guidance begin- ning in the first quarter of 2007 .the adoption of this guidance resulted in a charge to the beginning bal- ance of retained earnings of $ 94 million at the date of adoption .note 3 industry segment information financial information by industry segment and geo- graphic area for 2009 , 2008 and 2007 is presented on pages 47 and 48 .effective january 1 , 2008 , the company changed its method of allocating corpo- rate overhead expenses to its business segments to increase the expense amounts allocated to these businesses in reports reviewed by its chief executive officer to facilitate performance comparisons with other companies .accordingly , the company has revised its presentation of industry segment operat- ing profit to reflect this change in allocation method , and has adjusted all comparative prior period information on this basis .note 4 earnings per share attributable to international paper company common shareholders basic earnings per common share from continuing operations are computed by dividing earnings from continuing operations by the weighted average number of common shares outstanding .diluted earnings per common share from continuing oper- ations are computed assuming that all potentially dilutive securities , including 201cin-the-money 201d stock options , were converted into common shares at the beginning of each year .in addition , the computation of diluted earnings per share reflects the inclusion of contingently convertible securities in periods when dilutive .a reconciliation of the amounts included in the computation of basic earnings per common share from continuing operations , and diluted earnings per common share from continuing operations is as fol- in millions except per share amounts 2009 2008 2007 .
[['in millions except per share amounts', '2009', '2008', '2007'], ['earnings ( loss ) from continuing operations', '$ 663', '$ -1269 ( 1269 )', '$ 1215'], ['effect of dilutive securities ( a )', '2013', '2013', '2013'], ['earnings ( loss ) from continuing operations 2013 assumingdilution', '$ 663', '$ -1269 ( 1269 )', '$ 1215'], ['average common shares outstanding', '425.3', '421.0', '428.9'], ['effect of dilutive securities restricted performance share plan ( a )', '2.7', '2013', '3.7'], ['stock options ( b )', '2013', '2013', '0.4'], ['average common shares outstanding 2013 assuming dilution', '428.0', '421.0', '433.0'], ['basic earnings ( loss ) per common share from continuing operations', '$ 1.56', '$ -3.02 ( 3.02 )', '$ 2.83'], ['diluted earnings ( loss ) per common share from continuing operations', '$ 1.55', '$ -3.02 ( 3.02 )', '$ 2.81']]
average common shares outstanding 2013 assuming dilution 428.0 421.0 433.0 basic earnings ( loss ) per common share from continuing operations $ 1.56 $ ( 3.02 ) $ 2.83 diluted earnings ( loss ) per common share from continuing operations $ 1.55 $ ( 3.02 ) $ 2.81 ( a ) securities are not included in the table in periods when anti- dilutive .( b ) options to purchase 22.2 million , 25.1 million and 17.5 million shares for the years ended december 31 , 2009 , 2008 and 2007 , respectively , were not included in the computation of diluted common shares outstanding because their exercise price exceeded the average market price of the company 2019s common stock for each respective reporting date .note 5 restructuring and other charges this footnote discusses restructuring and other charges recorded for each of the three years included in the period ended december 31 , 2009 .it .
|
what was the ratio of the common shares whose exercise price exceeded the average market price of the company 2019s common stock for each respective reporting date in 2008 to 2007
|
1.43
|
{
"answer": "1.43",
"decimal": 1.43,
"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 a common stock is outstanding as of december 31 , 2017?
|
21.1%
|
{
"answer": "21.1%",
"decimal": 0.21100000000000002,
"type": "percentage"
}
| |
amount of commitment expiration per period other commercial commitments after millions total 2012 2013 2014 2015 2016 2016 .
[['other commercial commitmentsmillions', 'total', '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 2015', 'amount of commitment expiration per period 2016', 'amount of commitment expiration per period after 2016'], ['credit facilities [a]', '$ 1800', '$ -', '$ -', '$ -', '$ 1800', '$ -', '$ -'], ['receivables securitization facility [b]', '600', '600', '-', '-', '-', '-', '-'], ['guarantees [c]', '325', '18', '8', '214', '12', '13', '60'], ['standby letters of credit [d]', '24', '24', '-', '-', '-', '-', '-'], ['total commercialcommitments', '$ 2749', '$ 642', '$ 8', '$ 214', '$ 1812', '$ 13', '$ 60']]
[a] none of the credit facility was used as of december 31 , 2011 .[b] $ 100 million of the receivables securitization facility was utilized at december 31 , 2011 , which is accounted for as debt .the full program matures in august 2012 .[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 , 2011 .off-balance sheet arrangements guarantees 2013 at december 31 , 2011 , we were contingently liable for $ 325 million in guarantees .we have recorded a liability of $ 3 million for the fair value of these obligations as of december 31 , 2011 and 2010 .we entered into these contingent guarantees in the normal course of business , and they include guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations .the final guarantee expires in 2022 .we are not aware of any existing event of default that would require us to satisfy these guarantees .we do not expect that these guarantees will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity .other matters labor agreements 2013 in january 2010 , the nation 2019s largest freight railroads began the current round of negotiations with the labor unions .generally , contract negotiations with the various unions take place over an extended period of time .this round of negotiations was no exception .in september 2011 , the rail industry reached agreements with the united transportation union .on november 5 , 2011 , a presidential emergency board ( peb ) appointed by president obama issued recommendations to resolve the disputes between the u.s .railroads and 11 unions that had not yet reached agreements .since then , ten unions reached agreements with the railroads , all of them generally patterned on the recommendations of the peb , and the unions subsequently ratified these agreements .the railroad industry reached a tentative agreement with the brotherhood of maintenance of way employees ( bmwe ) on february 2 , 2012 , eliminating the immediate threat of a national rail strike .the bmwe now will commence ratification of this tentative agreement by its members .inflation 2013 long periods of inflation significantly increase asset replacement costs for capital-intensive companies .as a result , assuming that we replace all operating assets at current price levels , depreciation charges ( on an inflation-adjusted basis ) would be substantially greater than historically reported amounts .derivative financial instruments 2013 we may use derivative financial instruments in limited instances 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 price movements. .
|
what percent of total commercial commitments are credit facilities?
|
65%
|
{
"answer": "65%",
"decimal": 0.65,
"type": "percentage"
}
| |
higher in the first half of the year , but declined dur- ing the second half of the year reflecting the pass- through to customers of lower resin input costs .however , average margins benefitted from a more favorable mix of products sold .raw material costs were lower , primarily for resins .freight costs were also favorable , while operating costs increased .shorewood sales volumes in 2009 declined from 2008 levels reflecting weaker demand in the home entertainment segment and a decrease in tobacco segment orders as customers have shifted pro- duction outside of the united states , partially offset by higher shipments in the consumer products segment .average sales margins improved reflecting a more favorable mix of products sold .raw material costs were higher , but were partially offset by lower freight costs .operating costs were favorable , reflect- ing benefits from business reorganization and cost reduction actions taken in 2008 and 2009 .charges to restructure operations totaled $ 7 million in 2009 and $ 30 million in 2008 .entering 2010 , coated paperboard sales volumes are expected to increase , while average sales price real- izations should be comparable to 2009 fourth-quarter levels .raw material costs are expected to be sig- nificantly higher for wood , energy and chemicals , but planned maintenance downtime costs will decrease .foodservice sales volumes are expected to remain about flat , but average sales price realizations should improve slightly .input costs for resins should be higher , but will be partially offset by lower costs for bleached board .shorewood sales volumes are expected to decline reflecting seasonal decreases in home entertainment segment shipments .operating costs are expected to be favorable reflecting the benefits of business reorganization efforts .european consumer packaging net sales in 2009 were $ 315 million compared with $ 300 million in 2008 and $ 280 million in 2007 .operating earnings in 2009 of $ 66 million increased from $ 22 million in 2008 and $ 30 million in 2007 .sales volumes in 2009 were higher than in 2008 reflecting increased ship- ments to export markets .average sales margins declined due to increased shipments to lower- margin export markets and lower average sales prices in western europe .entering 2010 , sales volumes for the first quarter are expected to remain strong .average margins should improve reflecting increased sales price realizations and a more favorable geographic mix of products sold .input costs are expected to be higher due to increased wood prices in poland and annual energy tariff increases in russia .asian consumer packaging net sales were $ 545 million in 2009 compared with $ 390 million in 2008 and $ 330 million in 2007 .operating earnings in 2009 were $ 24 million compared with a loss of $ 13 million in 2008 and earnings of $ 12 million in 2007 .the improved operating earnings in 2009 reflect increased sales volumes , higher average sales mar- gins and lower input costs , primarily for chemicals .the loss in 2008 was primarily due to a $ 12 million charge to revalue pulp inventories at our shandong international paper and sun coated paperboard co. , ltd .joint venture and start-up costs associated with the joint venture 2019s new folding box board paper machine .distribution xpedx , our distribution business , markets a diverse array of products and supply chain services to cus- tomers in many business segments .customer demand is generally sensitive to changes in general economic conditions , although the commercial printing segment is also dependent on consumer advertising and promotional spending .distribution 2019s margins are relatively stable across an economic cycle .providing customers with the best choice and 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 2009 2008 2007 .
[['in millions', '2009', '2008', '2007'], ['sales', '$ 6525', '$ 7970', '$ 7320'], ['operating profit', '50', '103', '108']]
distribution 2019s 2009 annual sales decreased 18% ( 18 % ) from 2008 and 11% ( 11 % ) from 2007 while operating profits in 2009 decreased 51% ( 51 % ) compared with 2008 and 54% ( 54 % ) compared with 2007 .annual sales of printing papers and graphic arts supplies and equipment totaled $ 4.1 billion in 2009 compared with $ 5.2 billion in 2008 and $ 4.7 billion in 2007 , reflecting weak economic conditions in 2009 .trade margins as a percent of sales for printing papers increased from 2008 but decreased from 2007 due to a higher mix of lower margin direct ship- ments from manufacturers .revenue from packaging products was $ 1.3 billion in 2009 compared with $ 1.7 billion in 2008 and $ 1.5 billion in 2007 .trade margins as a percent of sales for packaging products were higher than in the past two years reflecting an improved product and service mix .facility supplies annual revenue was $ 1.1 billion in 2009 , essentially .
|
what is the difference between the highest and average value of operating profit?
|
21
|
{
"answer": "21",
"decimal": 21,
"type": "float"
}
|
it is the variation between the maximum and average values .
|
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 , 2006 and ending december 31 , 2011 .our peer group consists of the following nine companies that are engaged in refining operations in the u.s. : alon usa energy , inc. ; chevron corporation ; cvr energy , inc. ; exxon mobil corporation ; hess corporation ; hollyfrontier corporation ; marathon petroleum corporation ; tesoro corporation ; and western refining , inc .our peer group previously included conocophillips ; marathon oil corporation ; murphy oil corporation ; and sunoco , inc. , but they are not included in our current peer group because they have exited or are exiting refining operations in the u.s .frontier oil corporation and holly corporation are now represented in our peer group as hollyfrontier corporation. .
[['', '12/2006', '12/2007', '12/2008', '12/2009', '12/2010', '12/2011'], ['valero common stock', '$ 100.00', '$ 137.91', '$ 43.38', '$ 34.60', '$ 48.28', '$ 44.49'], ['s&p 500', '100.00', '105.49', '66.46', '84.05', '96.71', '98.75'], ['old peer group', '100.00', '127.94', '98.91', '94.54', '112.51', '130.65'], ['new peer group', '100.00', '127.92', '103.60', '97.91', '113.09', '133.47']]
1 assumes that an investment in valero common stock and each index was $ 100 on december 31 , 2006 .201ccumulative total return 201d is based on share price appreciation plus reinvestment of dividends from december 31 , 2006 through december 31 , 2011. .
|
what was the range for valero stock from 2007-2011?
|
103.31
|
{
"answer": "103.31",
"decimal": 103.31,
"type": "float"
}
| |
fund .employees have the ability to transfer funds from the company stock fund as they choose .the company declared matching contributions to the vertex 401 ( k ) plan as follows ( in thousands ) : q .related party transactions as of december 31 , 2005 and 2004 , the company had an interest-free loan outstanding to an officer in the amount of $ 36000 and $ 97000 , respectively , which was initially advanced in april 2002 .the loan balance is included in other assets on the consolidated balance sheets .in 2001 , the company entered into a four year consulting agreement with a director of the company for the provision of part-time consulting services over a period of four years , at the rate of $ 80000 per year commencing in january 2002 and terminating in january 2006 .r .contingencies the company has certain contingent liabilities that arise in the ordinary course of its business activities .the company accrues contingent liabilities when it is probable that future expenditures will be made and such expenditures can be reasonably estimated .on december 17 , 2003 , a purported class action , marguerite sacchetti v .james c .blair et al. , was filed in the superior court of the state of california , county of san diego , naming as defendants all of the directors of aurora who approved the merger of aurora and vertex , which closed in july 2001 .the plaintiffs claim that aurora's directors breached their fiduciary duty to aurora by , among other things , negligently conducting a due diligence examination of vertex by failing to discover alleged problems with vx-745 , a vertex drug candidate that was the subject of a development program which was terminated by vertex in september 2001 .vertex has certain indemnity obligations to aurora's directors under the terms of the merger agreement between vertex and aurora , which could result in vertex liability for attorney's fees and costs in connection with this action , as well as for any ultimate judgment that might be awarded .there is an outstanding directors' and officers' liability policy which may cover a significant portion of any such liability .the defendants are vigorously defending this suit .the company believes this suit will be settled without any significant liability to vertex or the former aurora directors .s .guarantees as permitted under massachusetts law , vertex's articles of organization and bylaws provide that the company will indemnify certain of its officers and directors for certain claims asserted against them in connection with their service as an officer or director .the maximum potential amount of future payments that the company could be required to make under these indemnification provisions is unlimited .however , the company has purchased certain directors' and officers' liability insurance policies that reduce its monetary exposure and enable it to recover a portion of any future amounts paid .the company believes the estimated fair value of these indemnification arrangements is minimal .discretionary matching contributions for the year ended december 31 , $ 2894 $ 2492 $ 2237 .
[['', '2005', '2004', '2003'], ['discretionary matching contributions for the year ended december 31,', '$ 2894', '$ 2492', '$ 2237'], ['shares issued for the year ended december 31,', '215', '239', '185'], ['shares issuable as of the year ended december 31,', '19', '57', '61']]
.
|
what was the change in the 2 discretionary matching contributions from 2004 to 2005 in millions
|
402
|
{
"answer": "402",
"decimal": 402,
"type": "float"
}
|
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