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bhge 2018 form 10-k | 107 part iii item 10 .directors , executive officers and corporate governance information regarding our code of conduct , the spirit and the letter , and code of ethical conduct certificates for our principal executive officer , principal financial officer and principal accounting officer are described in item 1 .business of this annual report .information concerning our directors is set forth in the sections entitled "proposal no .1 , election of directors - board nominees for directors" and "corporate governance - committees of the board" in our definitive proxy statement for the 2019 annual meeting of stockholders to be filed with the sec pursuant to the exchange act within 120 days of the end of our fiscal year on december 31 , 2018 ( proxy statement ) , which sections are incorporated herein by reference .for information regarding our executive officers , see "item 1 .business - executive officers of baker hughes" in this annual report on form 10-k .additional information regarding compliance by directors and executive officers with section 16 ( a ) of the exchange act is set forth under the section entitled "section 16 ( a ) beneficial ownership reporting compliance" in our proxy statement , which section is incorporated herein by reference .item 11 .executive compensation information for this item is set forth in the following sections of our proxy statement , which sections are incorporated herein by reference : "compensation discussion and analysis" "director compensation" "compensation committee interlocks and insider participation" and "compensation committee report." item 12 .security ownership of certain beneficial owners and management and related stockholder matters information concerning security ownership of certain beneficial owners and our management is set forth in the sections entitled "stock ownership of certain beneficial owners" and 201cstock ownership of section 16 ( a ) director and executive officers 201d in our proxy statement , which sections are incorporated herein by reference .we permit our employees , officers and directors to enter into written trading plans complying with rule 10b5-1 under the exchange act .rule 10b5-1 provides criteria under which such an individual may establish a prearranged plan to buy or sell a specified number of shares of a company's stock over a set period of time .any such plan must be entered into in good faith at a time when the individual is not in possession of material , nonpublic information .if an individual establishes a plan satisfying the requirements of rule 10b5-1 , such individual's subsequent receipt of material , nonpublic information will not prevent transactions under the plan from being executed .certain of our officers have advised us that they have and may enter into stock sales plans for the sale of shares of our class a common stock which are intended to comply with the requirements of rule 10b5-1 of the exchange act .in addition , the company has and may in the future enter into repurchases of our class a common stock under a plan that complies with rule 10b5-1 or rule 10b-18 of the exchange act .equity compensation plan information the information in the following table is presented as of december 31 , 2018 with respect to shares of our class a common stock that may be issued under our lti plan which has been approved by our stockholders ( in millions , except per share prices ) .equity compensation plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in the first column ) .
[['equity compensation plancategory', 'number ofsecurities to beissued uponexercise ofoutstandingoptions warrantsand rights', 'weighted averageexercise price ofoutstandingoptions warrantsand rights', 'number of securitiesremaining availablefor future issuanceunder equitycompensation plans ( excluding securitiesreflected in the firstcolumn )'], ['stockholder-approved plans', '2.7', '$ 36.11', '46.2'], ['nonstockholder-approved plans', '2014', '2014', '2014'], ['subtotal ( except for weighted average exercise price )', '2.7', '36.11', '46.2'], ['employee stock purchase plan', '2014', '2014', '15.0'], ['total', '2.7', '$ 36.11', '61.2']]
.
|
what is the total value of the number of securities approved by stockholders , in millions?
|
97.5
|
{
"answer": "97.5",
"decimal": 97.5,
"type": "float"
}
| |
eastman notes to the audited consolidated financial statements accumulated other comprehensive income ( loss ) ( dollars in millions ) cumulative translation adjustment unfunded additional minimum pension liability unrecognized loss and prior service cost , net of unrealized gains ( losses ) on cash flow hedges unrealized losses on investments accumulated comprehensive income ( loss ) balance at december 31 , 2004 155 ( 248 ) -- ( 8 ) ( 2 ) ( 103 ) .
[['( dollars in millions )', 'cumulative translation adjustment$', 'unfundedadditionalminimum pension liability$', 'unrecognized loss and prior service cost net of taxes$', 'unrealized gains ( losses ) on cash flow hedges$', 'unrealized losses on investments$', 'accumulated other comprehensive income ( loss ) $'], ['balance at december 31 2004', '155', '-248 ( 248 )', '--', '-8 ( 8 )', '-2 ( 2 )', '-103 ( 103 )'], ['period change', '-94 ( 94 )', '-7 ( 7 )', '--', '3', '1', '-97 ( 97 )'], ['balance at december 31 2005', '61', '-255 ( 255 )', '--', '-5 ( 5 )', '-1 ( 1 )', '-200 ( 200 )'], ['period change', '60', '48', '--', '-1 ( 1 )', '--', '107'], ['pre-sfas no . 158 balance at december 31 2006', '121', '-207 ( 207 )', '--', '-6 ( 6 )', '-1 ( 1 )', '-93 ( 93 )'], ['adjustments to apply sfas no . 158', '--', '207', '-288 ( 288 )', '--', '--', '-81 ( 81 )'], ['balance at december 31 2006', '121', '--', '-288 ( 288 )', '-6 ( 6 )', '-1 ( 1 )', '-174 ( 174 )']]
pre-sfas no .158 balance at december 31 , 2006 121 ( 207 ) -- ( 6 ) ( 1 ) ( 93 ) adjustments to apply sfas no .158 -- 207 ( 288 ) -- -- ( 81 ) balance at december 31 , 2006 121 -- ( 288 ) ( 6 ) ( 1 ) ( 174 ) except for cumulative translation adjustment , amounts of other comprehensive income ( loss ) are presented net of applicable taxes .because cumulative translation adjustment is considered a component of permanently invested , unremitted earnings of subsidiaries outside the united states , no taxes are provided on such amounts .15 .share-based compensation plans and awards 2002 omnibus long-term compensation plan eastman's 2002 omnibus long-term compensation plan provides for grants to employees of nonqualified stock options , incentive stock options , tandem and freestanding stock appreciation rights ( 201csar 2019s 201d ) , performance shares and various other stock and stock-based awards .the 2002 omnibus plan provides that options can be granted through may 2 , 2007 , for the purchase of eastman common stock at an option price not less than 100 percent of the per share fair market value on the date of the stock option's grant .there is a maximum of 7.5 million shares of common stock available for option grants and other awards during the term of the 2002 omnibus plan .director long-term compensation plan eastman's 2002 director long-term compensation plan provides for grants of nonqualified stock options and restricted shares to nonemployee members of the board of directors .shares of restricted stock are granted upon the first day of the directors' initial term of service and nonqualified stock options and shares of restricted stock are granted each year following the annual meeting of stockholders .the 2002 director plan provides that options can be granted through the later of may 1 , 2007 , or the date of the annual meeting of stockholders in 2007 for the purchase of eastman common stock at an option price not less than the stock's fair market value on the date of the grant. .
|
what was the sum of the cumulative translation adjustments from 2004 to 2006
|
-34
|
{
"answer": "-34",
"decimal": -34,
"type": "float"
}
| |
97% ( 97 % ) of its carrying value .the columbia fund is being liquidated with distributions to us occurring and expected to be fully liquidated during calendar 2008 .since december 2007 , we have received disbursements of approximately $ 20.7 million from the columbia fund .our operating activities during the year ended march 31 , 2008 used cash of $ 28.9 million as compared to $ 19.8 million during the same period in the prior year .our fiscal 2008 net loss of $ 40.9 million was the primary cause of our cash use from operations , attributed to increased investments in our global distribution as we continue to drive initiatives to increase recovery awareness as well as our investments in research and development to broaden our circulatory care product portfolio .in addition , our inventories used cash of $ 11.1 million during fiscal 2008 , reflecting our inventory build-up to support anticipated increases in global demand for our products and our accounts receivable also increased as a result of higher sales volume resulting in a use of cash of $ 2.8 million in fiscal 2008 .these decreases in cash were partially offset by an increase in accounts payable and accrued expenses of $ 5.6 million , non-cash adjustments of $ 5.4 million related to stock-based compensation expense , $ 6.1 million of depreciation and amortization and $ 5.0 million for the change in fair value of worldheart note receivable and warrant .our investing activities during the year ended march 31 , 2008 used cash of $ 40.9 million as compared to cash provided by investing activities of $ 15.1 million during the year ended march 31 , 2007 .cash used by investment activities for fiscal 2008 consisted primarily of $ 49.3 million for the recharacterization of the columbia fund to short-term marketable securities , $ 17.1 million for the purchase of short-term marketable securities , $ 3.8 million related to expenditures for property and equipment and $ 5.0 million for note receivable advanced to worldheart .these amounts were offset by $ 34.5 million of proceeds from short-term marketable securities .in june 2008 , we received 510 ( k ) clearance of our impella 2.5 , triggering an obligation to pay $ 5.6 million of contingent payments in accordance with the may 2005 acquisition of impella .these contingent payments may be made , at our option , with cash , or stock or by a combination of cash or stock under circumstances described in the purchase agreement .it is our intent to satisfy this contingent payment through the issuance of shares of our common stock .our financing activities during the year ended march 31 , 2008 provided cash of $ 2.1 million as compared to cash provided by financing activities of $ 66.6 million during the same period in the prior year .cash provided by financing activities for fiscal 2008 is comprised primarily of $ 2.8 million attributable to the exercise of stock options , $ 0.9 million related to the proceeds from the issuance of common stock , $ 0.3 million related to proceeds from the employee stock purchase plan , partially offset by $ 1.9 million related to the repurchase of warrants .the $ 64.5 million decrease compared to the prior year is primarily due to $ 63.6 million raised from the public offering in fiscal 2007 .we disbursed approximately $ 2.2 million of cash for the warrant repurchase and settlement of certain litigation .capital expenditures for fiscal 2009 are estimated to be approximately $ 3.0 to $ 6.0 million .contractual obligations and commercial commitments the following table summarizes our contractual obligations at march 31 , 2008 and the effects such obligations are expected to have on our liquidity and cash flows in future periods .payments due by fiscal year ( in $ 000 2019s ) contractual obligations total than 1 than 5 .
[['contractual obligations', 'payments due by fiscal year ( in $ 000 2019s ) total', 'payments due by fiscal year ( in $ 000 2019s ) less than 1 year', 'payments due by fiscal year ( in $ 000 2019s ) 1-3 years', 'payments due by fiscal year ( in $ 000 2019s ) 3-5 years', 'payments due by fiscal year ( in $ 000 2019s ) more than 5 years'], ['operating lease commitments', '$ 7754', '$ 2544', '$ 3507', '$ 1703', '$ 2014'], ['contractual obligations', '9309', '7473', '1836', '2014', '2014'], ['total obligations', '$ 17063', '$ 10017', '$ 5343', '$ 1703', '$ 2014']]
we have no long-term debt , capital leases or other material commitments , for open purchase orders and clinical trial agreements at march 31 , 2008 other than those shown in the table above .in may 2005 , we acquired all the shares of outstanding capital stock of impella cardiosystems ag , a company headquartered in aachen , germany .the aggregate purchase price excluding a contingent payment in the amount of $ 5.6 million made on january 30 , 2007 in the form of common stock , was approximately $ 45.1 million , which consisted of $ 42.2 million of our common stock , $ 1.6 million of cash paid to certain former shareholders of impella and $ 1.3 million of transaction costs , consisting primarily of fees paid for financial advisory and legal services .we may make additional contingent payments to impella 2019s former shareholders based on additional milestone payments related to fda approvals in the amount of up to $ 11.2 million .in june 2008 we received 510 ( k ) clearance of our impella 2.5 , triggering an obligation to pay $ 5.6 million of contingent payments .these contingent payments may be made , at our option , with cash , or stock or by a combination of cash or stock under circumstances described in the purchase agreement , except that approximately $ 1.8 million of these contingent payments must be made in cash .the payment of any contingent payments will result in an increase to the carrying value of goodwill .we apply the disclosure provisions of fin no .45 , guarantor 2019s accounting and disclosure requirements for guarantees , including guarantees of indebtedness of others , and interpretation of fasb statements no .5 , 57 and 107 and rescission of fasb interpretation .
|
what portion of total obligations is related to operating lease commitments as of march 31 , 2008?
|
45.4%
|
{
"answer": "45.4%",
"decimal": 0.45399999999999996,
"type": "percentage"
}
| |
kimco realty corporation and subsidiaries notes to consolidated financial statements , continued during 2012 , the albertsons joint venture distributed $ 50.3 million of which the company received $ 6.9 million , which was recognized as income from cash received in excess of the company 2019s investment , before income tax , and is included in equity in income from other real estate investments , net on the company 2019s consolidated statements of income .in january 2015 , the company invested an additional $ 85.3 million of new equity in the company 2019s albertsons joint venture to facilitate the acquisition of safeway inc .by the cerberus lead consortium .as a result , kimco now holds a 9.8% ( 9.8 % ) ownership interest in the combined company which operates 2230 stores across 34 states .leveraged lease - during june 2002 , the company acquired a 90% ( 90 % ) equity participation interest in an existing leveraged lease of 30 properties .the properties are leased under a long-term bond-type net lease whose primary term expires in 2016 , with the lessee having certain renewal option rights .the company 2019s cash equity investment was $ 4.0 million .this equity investment is reported as a net investment in leveraged lease in accordance with the fasb 2019s lease guidance .as of december 31 , 2014 , 19 of these properties were sold , whereby the proceeds from the sales were used to pay down $ 32.3 million in mortgage debt and the remaining 11 properties remain encumbered by third-party non-recourse debt of $ 11.2 million that is scheduled to fully amortize during the primary term of the lease from a portion of the periodic net rents receivable under the net lease .as an equity participant in the leveraged lease , the company has no recourse obligation for principal or interest payments on the debt , which is collateralized by a first mortgage lien on the properties and collateral assignment of the lease .accordingly , this obligation has been offset against the related net rental receivable under the lease .at december 31 , 2014 and 2013 , the company 2019s net investment in the leveraged lease consisted of the following ( in millions ) : .
[['', '2014', '2013'], ['remaining net rentals', '$ 8.3', '$ 15.9'], ['estimated unguaranteed residual value', '30.3', '30.3'], ['non-recourse mortgage debt', '-10.1 ( 10.1 )', '-16.1 ( 16.1 )'], ['unearned and deferred income', '-12.9 ( 12.9 )', '-19.9 ( 19.9 )'], ['net investment in leveraged lease', '$ 15.6', '$ 10.2']]
9 .variable interest entities : consolidated ground-up development projects included within the company 2019s ground-up development projects at december 31 , 2014 , is an entity that is a vie , for which the company is the primary beneficiary .this entity was established to develop real estate property to hold as a long-term investment .the company 2019s involvement with this entity is through its majority ownership and management of the property .this entity was deemed a vie primarily based on the fact that the equity investment at risk is not sufficient to permit the entity to finance its activities without additional financial support .the initial equity contributed to this entity was not sufficient to fully finance the real estate construction as development costs are funded by the partners throughout the construction period .the company determined that it was the primary beneficiary of this vie as a result of its controlling financial interest .at december 31 , 2014 , total assets of this ground-up development vie were $ 77.7 million and total liabilities were $ 0.1 million .the classification of these assets is primarily within real estate under development in the company 2019s consolidated balance sheets and the classifications of liabilities are primarily within accounts payable and accrued expenses on the company 2019s consolidated balance sheets .substantially all of the projected development costs to be funded for this ground-up development vie , aggregating $ 32.8 million , will be funded with capital contributions from the company and by the outside partners , when contractually obligated .the company has not provided financial support to this vie that it was not previously contractually required to provide. .
|
what is the average net rentals for 2013-2014 , in millions?
|
12.1
|
{
"answer": "12.1",
"decimal": 12.1,
"type": "float"
}
| |
kimco realty corporation and subsidiaries job title kimco realty ar revision 6 serial date / time tuesday , april 03 , 2007 /10:32 pm job number 142704 type current page no .65 operator pm2 <12345678> at december 31 , 2006 and 2005 , the company 2019s net invest- ment in the leveraged lease consisted of the following ( in mil- lions ) : .
[['', '2006', '2005'], ['remaining net rentals', '$ 62.3', '$ 68.9'], ['estimated unguaranteed residual value', '40.5', '43.8'], ['non-recourse mortgage debt', '-48.4 ( 48.4 )', '-52.8 ( 52.8 )'], ['unearned and deferred income', '-50.7 ( 50.7 )', '-55.9 ( 55.9 )'], ['net investment in leveraged lease', '$ 3.7', '$ 4.0']]
9 .mortgages and other financing receivables : during january 2006 , the company provided approximately $ 16.0 million as its share of a $ 50.0 million junior participation in a $ 700.0 million first mortgage loan , in connection with a private investment firm 2019s acquisition of a retailer .this loan participation bore interest at libor plus 7.75% ( 7.75 % ) per annum and had a two-year term with a one-year extension option and was collateralized by certain real estate interests of the retailer .during june 2006 , the borrower elected to pre-pay the outstanding loan balance of approximately $ 16.0 million in full satisfaction of this loan .additionally , during january 2006 , the company provided approximately $ 5.2 million as its share of an $ 11.5 million term loan to a real estate developer for the acquisition of a 59 acre land parcel located in san antonio , tx .this loan is interest only at a fixed rate of 11.0% ( 11.0 % ) for a term of two years payable monthly and collateralized by a first mortgage on the subject property .as of december 31 , 2006 , the outstanding balance on this loan was approximately $ 5.2 million .during february 2006 , the company committed to provide a one year $ 17.2 million credit facility at a fixed rate of 8.0% ( 8.0 % ) for a term of nine months and 9.0% ( 9.0 % ) for the remaining term to a real estate investor for the recapitalization of a discount and entertain- ment mall that it currently owns .during 2006 , this facility was fully paid and was terminated .during april 2006 , the company provided two separate mortgages aggregating $ 14.5 million on a property owned by a real estate investor .proceeds were used to payoff the existing first mortgage , buyout the existing partner and for redevelopment of the property .the mortgages bear interest at 8.0% ( 8.0 % ) per annum and mature in 2008 and 2013 .these mortgages are collateralized by the subject property .as of december 31 , 2006 , the aggregate outstanding balance on these mortgages was approximately $ 15.0 million , including $ 0.5 million of accrued interest .during may 2006 , the company provided a cad $ 23.5 million collateralized credit facility at a fixed rate of 8.5% ( 8.5 % ) per annum for a term of two years to a real estate company for the execution of its property acquisitions program .the credit facility is guaranteed by the real estate company .the company was issued 9811 units , valued at approximately usd $ 0.1 million , and warrants to purchase up to 0.1 million shares of the real estate company as a loan origination fee .during august 2006 , the company increased the credit facility to cad $ 45.0 million and received an additional 9811 units , valued at approximately usd $ 0.1 million , and warrants to purchase up to 0.1 million shares of the real estate company .as of december 31 , 2006 , the outstand- ing balance on this credit facility was approximately cad $ 3.6 million ( approximately usd $ 3.1 million ) .during september 2005 , a newly formed joint venture , in which the company had an 80% ( 80 % ) interest , acquired a 90% ( 90 % ) interest in a $ 48.4 million mortgage receivable for a purchase price of approximately $ 34.2 million .this loan bore interest at a rate of three-month libor plus 2.75% ( 2.75 % ) per annum and was scheduled to mature on january 12 , 2010 .a 626-room hotel located in lake buena vista , fl collateralized the loan .the company had determined that this joint venture entity was a vie and had further determined that the company was the primary benefici- ary of this vie and had therefore consolidated it for financial reporting purposes .during march 2006 , the joint venture acquired the remaining 10% ( 10 % ) of this mortgage receivable for a purchase price of approximately $ 3.8 million .during june 2006 , the joint venture accepted a pre-payment of approximately $ 45.2 million from the borrower as full satisfaction of this loan .during august 2006 , the company provided $ 8.8 million as its share of a $ 13.2 million 12-month term loan to a retailer for general corporate purposes .this loan bears interest at a fixed rate of 12.50% ( 12.50 % ) with interest payable monthly and a balloon payment for the principal balance at maturity .the loan is collateralized by the underlying real estate of the retailer .additionally , the company funded $ 13.3 million as its share of a $ 20.0 million revolving debtor-in-possession facility to this retailer .the facility bears interest at libor plus 3.00% ( 3.00 % ) and has an unused line fee of 0.375% ( 0.375 % ) .this credit facility is collateralized by a first priority lien on all the retailer 2019s assets .as of december 31 , 2006 , the compa- ny 2019s share of the outstanding balance on this loan and credit facility was approximately $ 7.6 million and $ 4.9 million , respec- tively .during september 2006 , the company provided a mxp 57.3 million ( approximately usd $ 5.3 million ) loan to an owner of an operating property in mexico .the loan , which is collateralized by the property , bears interest at 12.0% ( 12.0 % ) per annum and matures in 2016 .the company is entitled to a participation feature of 25% ( 25 % ) of annual cash flows after debt service and 20% ( 20 % ) of the gain on sale of the property .as of december 31 , 2006 , the outstand- ing balance on this loan was approximately mxp 57.8 million ( approximately usd $ 5.3 million ) .during november 2006 , the company committed to provide a mxp 124.8 million ( approximately usd $ 11.5 million ) loan to an owner of a land parcel in acapulco , mexico .the loan , which is collateralized with an operating property owned by the bor- rower , bears interest at 10% ( 10 % ) per annum and matures in 2016 .the company is entitled to a participation feature of 20% ( 20 % ) of excess cash flows and gains on sale of the property .as of decem- ber 31 , 2006 , the outstanding balance on this loan was mxp 12.8 million ( approximately usd $ 1.2 million ) . .
|
from 2005-2006 , what was the total amount of remaining net rentals , in millions?
|
121.2
|
{
"answer": "121.2",
"decimal": 121.2,
"type": "float"
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| |
asian industrial packaging net sales for 2007 were $ 265 million compared with $ 180 million in 2006 .in 2005 , net sales were $ 105 million sub- sequent to international paper 2019s acquisition of a majority interest in this business in august 2005 .operating profits totaled $ 6 million in 2007 and $ 3 million in 2006 , compared with a loss of $ 4 million in consumer packaging demand and pricing for consumer packaging prod- ucts correlate closely with consumer spending and general economic activity .in addition to prices and volumes , major factors affecting the profitability of consumer packaging are raw material and energy costs , freight costs , manufacturing efficiency and product mix .consumer packaging net sales increased 12% ( 12 % ) compared with 2006 and 24% ( 24 % ) compared with 2005 .operating profits rose 15% ( 15 % ) from 2006 and 24% ( 24 % ) from 2005 levels .benefits from improved average sales price realizations ( $ 52 million ) , higher sales volumes for u.s .and european coated paperboard ( $ 9 million ) , favorable mill operations ( $ 14 million ) and contributions from international paper & sun cartonboard co. , ltd .acquired in 2006 ( $ 16 million ) , were partially offset by higher raw material and energy costs ( $ 53 million ) , an unfavorable mix of products sold ( $ 4 million ) , increased freight costs ( $ 5 million ) and other costs ( $ 3 million ) .consumer packaging in millions 2007 2006 2005 .
[['in millions', '2007', '2006', '2005'], ['sales', '$ 3015', '$ 2685', '$ 2435'], ['operating profit', '$ 198', '$ 172', '$ 160']]
north american consumer packaging net sales were $ 2.4 billion in both 2007 and 2006 com- pared with $ 2.2 billion in 2005 .operating earnings of $ 143 million in 2007 improved from $ 129 million in 2006 and $ 121 million in 2005 .coated paperboard sales volumes increased in 2007 compared with 2006 , particularly for folding carton board , reflecting improved demand .average sales price realizations substantially improved in 2007 for both folding carton board and cup stock .the impact of the higher sales prices combined with improved manufacturing performance at our mills more than offset the negative effects of higher wood and energy costs .foodservice sales volumes were slightly higher in 2007 than in 2006 .average sales prices were also higher reflecting the realization of price increases implemented to recover raw material cost increases .in addition , a more favorable mix of hot cups and food containers led to higher average margins .raw material costs for bleached board and polystyrene were higher than in 2006 , but these increases were partially offset by improved manufacturing costs reflecting increased productivity and reduced waste .shorewood sales volumes in 2007 declined from 2006 levels due to weak demand in the home enter- tainment , tobacco and display markets , although demand was stronger in the consumer products segment .sales margins declined from 2006 reflect- ing a less favorable mix of products sold .raw material costs were higher for bleached board , but this impact was more than offset by improved manufacturing operations and lower operating costs .charges to restructure operations also impacted 2007 results .entering 2008 , coated paperboard sales volumes are expected to be about even with the fourth quarter of 2007 , while average sales price realizations are expected to slightly improve .earnings should bene- fit from fewer planned mill maintenance outages compared with the 2007 fourth quarter .however , costs for wood , polyethylene and energy are expected to be higher .foodservice results are expected to benefit from increased sales volumes and higher sales price realizations .shorewood sales volumes for the first quarter 2008 are expected to seasonally decline , but this negative impact should be partially offset by benefits from cost improve- ments associated with prior-year restructuring actions .european consumer packaging net sales in 2007 were $ 280 million compared with $ 230 million in 2006 and $ 190 million in 2005 .sales volumes in 2007 were higher than in 2006 reflecting stronger market demand and improved productivity at our kwidzyn mill .average sales price realizations also improved in 2007 .operating earnings in 2007 of $ 37 million declined from $ 41 million in 2006 and $ 39 million in 2005 .the additional contribution from higher net sales was more than offset by higher input costs for wood , energy and freight .entering 2008 , sales volumes and prices are expected to be comparable to the fourth quarter .machine performance and sales mix are expected to improve ; however , wood costs are expected to be higher , especially in russia due to strong demand ahead of tariff increases , and energy costs are anticipated to be seasonally higher. .
|
what was the consumer packaging profit margin in 2006
|
6.4%
|
{
"answer": "6.4%",
"decimal": 0.064,
"type": "percentage"
}
| |
item 1b .unresolved staff comments item 2 .properties we employ a variety of assets in the management and operation of our rail business .our rail network covers 23 states in the western two-thirds of the u.s .our rail network includes 32084 route miles .we own 26064 miles and operate on the remainder pursuant to trackage rights or leases .the following table describes track miles at december 31 , 2015 and 2014. .
[['', '2015', '2014'], ['route', '32084', '31974'], ['other main line', '7012', '6943'], ['passing lines and turnouts', '3235', '3197'], ['switching and classification yard lines', '9108', '9058'], ['total miles', '51439', '51172']]
headquarters building we own our headquarters building in omaha , nebraska .the facility has 1.2 million square feet of space for approximately 4000 employees. .
|
what percentage of total miles were other main line in 2014?
|
14%
|
{
"answer": "14%",
"decimal": 0.14,
"type": "percentage"
}
| |
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 cash and cash equivalents in 2017?
|
13.2%
|
{
"answer": "13.2%",
"decimal": 0.132,
"type": "percentage"
}
| |
foodservice sales volumes increased in 2012 compared with 2011 .average sales margins were higher reflecting the realization of sales price increases for the pass-through of earlier cost increases .raw material costs for board and resins were lower .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 2013 , coated paperboard sales volumes are expected to increase slightly from the fourth quarter of 2012 .average sales price realizations are expected to be slightly lower , but margins should benefit from a more favorable product mix .input costs are expected to be higher for energy and wood .no planned main- tenance outages are scheduled in the first quarter .in january 2013 the company announced the perma- nent shutdown of a coated paperboard machine at the augusta mill with an annual capacity of 140000 tons .foodservice sales volumes are expected to increase .average sales margins are expected to decrease due to the realization of sales price decreases effective with our january contract open- ers .input costs for board and resin are expected to be lower and operating costs are also expected to decrease .european consumer packaging net sales in 2012 were $ 380 million compared with $ 375 million in 2011 and $ 345 million in 2010 .operating profits in 2012 were $ 99 million compared with $ 93 million in 2011 and $ 76 million in 2010 .sales volumes in 2012 increased from 2011 .average sales price realizations were higher in russian markets , but were lower in european markets .input costs decreased , primarily for wood , and planned maintenance downtime costs were lower in 2012 than in 2011 .looking forward to the first quarter of 2013 , sales volumes are expected to decrease in both europe and russia .average sales price realizations are expected to be higher in russia , but be more than offset by decreases in europe .input costs are expected to increase for wood and chemicals .no maintenance outages are scheduled for the first quarter .asian consumer packaging net sales were $ 830 million in 2012 compared with $ 855 million in 2011 and $ 705 million in 2010 .operating profits in 2012 were $ 4 million compared with $ 35 million in 2011 and $ 34 million in 2010 .sales volumes increased in 2012 compared with 2011 partially due to the start-up of a new coated paperboard machine .average sales price realizations were significantly lower , but were partially offset by lower input costs for purchased pulp .start-up costs for a new coated paperboard machine adversely impacted operating profits in 2012 .in the first quarter of 2013 , sales volumes are expected to increase slightly .average sales price realizations for folding carton board and bristols board are expected to be lower reflecting increased competitive pressures and seasonally weaker market demand .input costs should be higher for pulp and chemicals .however , costs related to the ramp-up of the new coated paperboard machine should be lower .distribution xpedx , our distribution business , is one of north america 2019s leading business-to-business distributors to manufacturers , facility managers and printers , providing customized solutions that are designed to improve efficiency , reduce costs and deliver results .customer demand is generally sensitive to changes in economic conditions and consumer behavior , along with segment specific activity including corpo- rate advertising and promotional spending , government spending and domestic manufacturing activity .distribution 2019s margins are relatively stable across an economic cycle .providing customers with the best choice for value in both products and supply chain services is a key competitive factor .addition- ally , efficient customer service , cost-effective logis- tics and focused working capital management are key factors in this segment 2019s profitability .distribution .
[['in millions', '2012', '2011', '2010'], ['sales', '$ 6040', '$ 6630', '$ 6735'], ['operating profit', '22', '34', '78']]
distr ibut ion 2019s 2012 annual sales decreased 9% ( 9 % ) from 2011 , and decreased 10% ( 10 % ) from 2010 .operating profits in 2012 were $ 22 million ( $ 71 million exclud- ing reorganization costs ) compared with $ 34 million ( $ 86 million excluding reorganization costs ) in 2011 and $ 78 million in 2010 .annual sales of printing papers and graphic arts supplies and equipment totaled $ 3.5 billion in 2012 compared with $ 4.0 billion in 2011 and $ 4.2 billion in 2010 , reflecting declining demand and the exiting of unprofitable businesses .trade margins as a percent of sales for printing papers were relatively even with both 2011 and 2010 .revenue from packaging prod- ucts was flat at $ 1.6 billion in both 2012 and 2011 and up slightly compared to $ 1.5 billion in 2010 .pack- aging margins increased in 2012 from both 2011 and 2010 , reflecting the successful execution of strategic sourcing initiatives .facility supplies annual revenue was $ 0.9 billion in 2012 , down compared to $ 1.0 bil- lion in 2011 and 2010 .operating profits in 2012 included $ 49 million of reorganization costs for severance , professional services and asset write-downs compared with $ 52 .
|
what was the average annual european consumer packaging net sales from 2010 to 2012 in millions
|
366.7
|
{
"answer": "366.7",
"decimal": 366.7,
"type": "float"
}
| |
the second largest closed-end fund manager and a top- ten manager by aum and 2013 net flows of long-term open-end mutual funds1 .in 2013 , we were also the leading manager by net flows for long-dated fixed income mutual funds1 .2022 we have fully integrated our legacy retail and ishares retail distribution teams to create a unified client-facing presence .as retail clients increasingly use blackrock 2019s capabilities in combination 2014 active , alternative and passive 2014 it is a strategic priority for blackrock to coherently deliver these capabilities through one integrated team .2022 international retail long-term net inflows of $ 17.5 billion , representing 15% ( 15 % ) organic growth , were positive across major regions and diversified across asset classes .equity net inflows of $ 6.4 billion were driven by strong demand for our top-performing european equities franchise as investor risk appetite for the sector improved .multi-asset class and fixed income products each generated net inflows of $ 4.8 billion , as investors looked to manage duration and volatility in their portfolios .in 2013 , we were ranked as the third largest cross border fund provider2 .in the united kingdom , we ranked among the five largest fund managers2 .ishares .
[['( in millions )', 'component changes in aum 2014 ishares 12/31/2012', 'component changes in aum 2014 ishares net new business', 'component changes in aum 2014 ishares acquisition ( 1 )', 'component changes in aum 2014 ishares market / fx', 'component changes in aum 2014 ishares 12/31/2013'], ['equity', '$ 534648', '$ 74119', '$ 13021', '$ 96347', '$ 718135'], ['fixed income', '192852', '-7450 ( 7450 )', '1294', '-7861 ( 7861 )', '178835'], ['multi-asset class', '869', '355', '2014', '86', '1310'], ['alternatives ( 2 )', '24337', '-3053 ( 3053 )', '1645', '-6837 ( 6837 )', '16092'], ['total ishares', '$ 752706', '$ 63971', '$ 15960', '$ 81735', '$ 914372']]
alternatives ( 2 ) 24337 ( 3053 ) 1645 ( 6837 ) 16092 total ishares $ 752706 $ 63971 $ 15960 $ 81735 $ 914372 ( 1 ) amounts represent $ 16.0 billion of aum acquired in the credit suisse etf acquisition in july 2013 .( 2 ) amounts include commodity ishares .ishares is the leading etf provider in the world , with $ 914.4 billion of aum at december 31 , 2013 , and was the top asset gatherer globally in 20133 with $ 64.0 billion of net inflows for an organic growth rate of 8% ( 8 % ) .equity net inflows of $ 74.1 billion were driven by flows into funds with broad developed market exposures , partially offset by outflows from emerging markets products .ishares fixed income experienced net outflows of $ 7.5 billion , as the continued low interest rate environment led many liquidity-oriented investors to sell long-duration assets , which made up the majority of the ishares fixed income suite .in 2013 , we launched several funds to meet demand from clients seeking protection in a rising interest rate environment by offering an expanded product set that includes four new u.s .funds , including short-duration versions of our flagship high yield and investment grade credit products , and short maturity and liquidity income funds .ishares alternatives had $ 3.1 billion of net outflows predominantly out of commodities .ishares represented 23% ( 23 % ) of long-term aum at december 31 , 2013 and 35% ( 35 % ) of long-term base fees for ishares offers the most diverse product set in the industry with 703 etfs at year-end 2013 , and serves the broadest client base , covering more than 25 countries on five continents .during 2013 , ishares continued its dual commitment to innovation and responsible product structuring by introducing 42 new etfs , acquiring credit suisse 2019s 58 etfs in europe and entering into a critical new strategic alliance with fidelity investments to deliver fidelity 2019s more than 10 million clients increased access to ishares products , tools and support .our alliance with fidelity investments and a successful full first year for the core series have deeply expanded our presence and offerings among buy-and-hold investors .our broad product range offers investors a precise , transparent and low-cost way to tap market returns and gain access to a full range of asset classes and global markets that have been difficult or expensive for many investors to access until now , as well as the liquidity required to make adjustments to their exposures quickly and cost-efficiently .2022 u.s .ishares aum ended at $ 655.6 billion with $ 41.4 billion of net inflows driven by strong demand for developed markets equities and short-duration fixed income .during the fourth quarter of 2012 , we debuted the core series in the united states , designed to provide the essential building blocks for buy-and-hold investors to use in constructing the core of their portfolio .the core series demonstrated solid results in its first full year , raising $ 20.0 billion in net inflows , primarily in u.s .equities .in the united states , ishares maintained its position as the largest etf provider , with 39% ( 39 % ) share of aum3 .2022 international ishares aum ended at $ 258.8 billion with robust net new business of $ 22.6 billion led by demand for european and japanese equities , as well as a diverse range of fixed income products .at year-end 2013 , ishares was the largest european etf provider with 48% ( 48 % ) of aum3 .1 simfund 2 lipper feri 3 blackrock ; bloomberg .
|
what is the percentage change in the balance of total ishares in 2013 compare to 2012?
|
21.5%
|
{
"answer": "21.5%",
"decimal": 0.215,
"type": "percentage"
}
| |
mill in the fourth quarter of 2008 .this compares with 635000 tons of total downtime in 2008 of which 305000 tons were lack-of-order downtime .printing papers in millions 2009 2008 2007 .
[['in millions', '2009', '2008', '2007'], ['sales', '$ 5680', '$ 6810', '$ 6530'], ['operating profit', '1091', '474', '839']]
north american printing papers net sales in 2009 were $ 2.8 billion compared with $ 3.4 billion in 2008 and $ 3.5 billion in 2007 .operating earnings in 2009 were $ 746 million ( $ 307 million excluding alter- native fuel mixture credits and plant closure costs ) compared with $ 405 million ( $ 435 million excluding shutdown costs for a paper machine ) in 2008 and $ 415 million in 2007 .sales volumes decreased sig- nificantly in 2009 compared with 2008 reflecting weak customer demand and reduced production capacity resulting from the shutdown of a paper machine at the franklin mill in december 2008 and the conversion of the bastrop mill to pulp production in june 2008 .average sales price realizations were lower reflecting slight declines for uncoated freesheet paper in domestic markets and significant declines in export markets .margins were also unfavorably affected by a higher proportion of shipments to lower-margin export markets .input costs , however , were favorable due to lower wood and chemical costs and sig- nificantly lower energy costs .freight costs were also lower .planned maintenance downtime costs in 2009 were comparable with 2008 .operating costs were favorable , reflecting cost control efforts and strong machine performance .lack-of-order downtime increased to 525000 tons in 2009 , including 120000 tons related to the shutdown of a paper machine at our franklin mill in the 2008 fourth quarter , from 135000 tons in 2008 .operating earnings in 2009 included $ 671 million of alternative fuel mixture cred- its , $ 223 million of costs associated with the shutdown of our franklin mill and $ 9 million of other shutdown costs , while operating earnings in 2008 included $ 30 million of costs for the shutdown of a paper machine at our franklin mill .looking ahead to 2010 , first-quarter sales volumes are expected to increase slightly from fourth-quarter 2009 levels .average sales price realizations should be higher , reflecting the full-quarter impact of sales price increases announced in the fourth quarter for converting and envelope grades of uncoated free- sheet paper and an increase in prices to export markets .however , input costs for wood , energy and chemicals are expected to continue to increase .planned maintenance downtime costs should be lower and operating costs should be favorable .brazil ian papers net sales for 2009 of $ 960 mil- lion increased from $ 950 million in 2008 and $ 850 million in 2007 .operating profits for 2009 were $ 112 million compared with $ 186 million in 2008 and $ 174 million in 2007 .sales volumes increased in 2009 compared with 2008 for both paper and pulp reflect- ing higher export shipments .average sales price realizations were lower due to strong competitive pressures in the brazilian domestic market in the second half of the year , lower export prices and unfavorable foreign exchange rates .margins were unfavorably affected by a higher proportion of lower margin export sales .input costs for wood and chem- icals were favorable , but these benefits were partially offset by higher energy costs .planned maintenance downtime costs were lower , and operating costs were also favorable .earnings in 2009 were adversely impacted by unfavorable foreign exchange effects .entering 2010 , sales volumes are expected to be seasonally lower compared with the fourth quarter of 2009 .profit margins are expected to be slightly higher reflecting a more favorable geographic sales mix and improving sales price realizations in export markets , partially offset by higher planned main- tenance outage costs .european papers net sales in 2009 were $ 1.3 bil- lion compared with $ 1.7 billion in 2008 and $ 1.5 bil- lion in 2007 .operating profits in 2009 of $ 92 million ( $ 115 million excluding expenses associated with the closure of the inverurie mill ) compared with $ 39 mil- lion ( $ 146 million excluding a charge to reduce the carrying value of the fixed assets at the inverurie , scotland mill to their estimated realizable value ) in 2008 and $ 171 million in 2007 .sales volumes in 2009 were lower than in 2008 primarily due to reduced sales of uncoated freesheet paper following the closure of the inverurie mill in 2009 .average sales price realizations decreased significantly in 2009 across most of western europe , but margins increased in poland and russia reflecting the effect of local currency devaluations .input costs were favorable as lower wood costs , particularly in russia , were only partially offset by higher energy costs in poland and higher chemical costs .planned main- tenance downtime costs were higher in 2009 than in 2008 , while manufacturing operating costs were lower .operating profits in 2009 also reflect favorable foreign exchange impacts .looking ahead to 2010 , sales volumes are expected to decline from strong 2009 fourth-quarter levels despite solid customer demand .average sales price realizations are expected to increase over the quar- ter , primarily in eastern europe , as price increases .
|
what is the variation observed in the value of operating expenses and other costs concerning the activities during 2008 and 2009?
|
1747
|
{
"answer": "1747",
"decimal": 1747,
"type": "float"
}
|
it is the difference between the values of operating costs expenses of each year .
|
management believes it is important for interna- tional paper to maintain an investment-grade credit rat- ing to facilitate access to capital markets on favorable terms .at december 31 , 2005 , the company held long- term credit ratings of bbb ( negative outlook ) and baa3 ( stable outlook ) from standard & poor 2019s and moody 2019s investor services , respectively .cash provided by operations cash provided by continuing operations totaled $ 1.5 billion for 2005 , compared with $ 2.1 billion in 2004 and $ 1.5 billion in 2003 .the major components of cash provided by continuing operations are earnings from continuing operations adjusted for non-cash in- come and expense items and changes in working capital .earnings from continuing operations adjusted for non-cash items declined by $ 83 million in 2005 versus 2004 .this compared with an increase of $ 612 million for 2004 over 2003 .working capital , representing international paper 2019s investments in accounts receivable and inventory less accounts payable and accrued liabilities , was $ 2.6 billion at december 31 , 2005 .cash used for working capital components increased by $ 591 million in 2005 , com- pared with a $ 86 million increase in 2004 and an $ 11 million increase in 2003 .the increase in 2005 was principally due to a decline in accrued liabilities at de- cember 31 , 2005 .investment activities capital spending from continuing operations was $ 1.2 billion in 2005 , or 84% ( 84 % ) of depreciation and amor- tization , comparable to the $ 1.2 billion , or 87% ( 87 % ) of depreciation and amortization in 2004 , and $ 1.0 billion , or 74% ( 74 % ) of depreciation and amortization in 2003 .the following table presents capital spending from continuing operations by each of our business segments for the years ended december 31 , 2005 , 2004 and 2003 .in millions 2005 2004 2003 .
[['in millions', '2005', '2004', '2003'], ['printing papers', '$ 658', '$ 590', '$ 482'], ['industrial packaging', '187', '179', '165'], ['consumer packaging', '131', '205', '128'], ['distribution', '9', '5', '12'], ['forest products', '121', '126', '121'], ['specialty businesses and other', '31', '39', '31'], ['subtotal', '1137', '1144', '939'], ['corporate and other', '18', '32', '54'], ['total from continuing operations', '$ 1155', '$ 1176', '$ 993']]
we expect capital expenditures in 2006 to be about $ 1.2 billion , or about 80% ( 80 % ) of depreciation and amor- tization .we will continue to focus our future capital spending on improving our key platform businesses in north america and on investments in geographic areas with strong growth opportunities .acquisitions in october 2005 , international paper acquired ap- proximately 65% ( 65 % ) of compagnie marocaine des cartons et des papiers ( cmcp ) , a leading moroccan corrugated packaging company , for approximately $ 80 million in cash plus assumed debt of approximately $ 40 million .in august 2005 , pursuant to an existing agreement , international paper purchased a 50% ( 50 % ) third-party interest in ippm ( subsequently renamed international paper distribution limited ) for $ 46 million to facilitate possi- ble further growth in asian markets .in 2001 , interna- tional paper had acquired a 25% ( 25 % ) interest in this business .the accompanying consolidated balance sheet as of december 31 , 2005 includes preliminary estimates of the fair values of the assets and liabilities acquired , including approximately $ 50 million of goodwill .in july 2004 , international paper acquired box usa holdings , inc .( box usa ) for approximately $ 400 million , including the assumption of approximately $ 197 million of debt , of which approximately $ 193 mil- lion was repaid by july 31 , 2004 .each of the above acquisitions was accounted for using the purchase method .the operating results of these acquisitions have been included in the con- solidated statement of operations from the dates of ac- quisition .financing activities 2005 : financing activities during 2005 included debt issuances of $ 1.0 billion and retirements of $ 2.7 billion , for a net debt and preferred securities reduction of $ 1.7 billion .in november and december 2005 , international paper investments ( luxembourg ) s.ar.l. , a wholly- owned subsidiary of international paper , issued $ 700 million of long-term debt with an initial interest rate of libor plus 40 basis points that can vary depending upon the credit rating of the company , and a maturity date in november 2010 .additionally , the subsidiary borrowed $ 70 million under a bank credit agreement with an initial interest rate of libor plus 40 basis points that can vary depending upon the credit rating of the company , and a maturity date in november 2006 .in december 2005 , international paper used pro- ceeds from the above borrowings , and from the sale of chh in the third quarter of 2005 , to repay approx- imately $ 190 million of notes with coupon rates ranging from 3.8% ( 3.8 % ) to 10% ( 10 % ) and original maturities from 2008 to 2029 .the remaining proceeds from the borrowings and the chh sale will be used for further debt reductions in the first quarter of 2006. .
|
what was the ratio of the increase in the cash used for the working capital from 2004 to 2005
|
6.87
|
{
"answer": "6.87",
"decimal": 6.87,
"type": "float"
}
| |
future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a comparable treasury security .the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2022 notes .2021 notes .in may 2011 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .these notes were issued as two separate series of senior debt securities , including $ 750 million of 4.25% ( 4.25 % ) notes maturing in may 2021 and $ 750 million of floating rate notes , which were repaid in may 2013 at maturity .net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co. , inc .interest on the 4.25% ( 4.25 % ) notes due in 2021 ( 201c2021 notes 201d ) is payable semi-annually on may 24 and november 24 of each year , which commenced november 24 , 2011 , and is approximately $ 32 million per year .the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2021 notes .2019 notes .in december 2009 , the company issued $ 2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations .these notes were issued as three separate series of senior debt securities including $ 0.5 billion of 2.25% ( 2.25 % ) notes , which were repaid in december 2012 , $ 1.0 billion of 3.50% ( 3.50 % ) notes , which were repaid in december 2014 at maturity , and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2019 ( the 201c2019 notes 201d ) .net proceeds of this offering were used to repay borrowings under the cp program , which was used to finance a portion of the acquisition of barclays global investors from barclays on december 1 , 2009 , and for general corporate purposes .interest on the 2019 notes of approximately $ 50 million per year is payable semi-annually in arrears on june 10 and december 10 of each year .these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2019 notes .2017 notes .in september 2007 , the company issued $ 700 million in aggregate principal amount of 6.25% ( 6.25 % ) senior unsecured and unsubordinated notes maturing on september 15 , 2017 ( the 201c2017 notes 201d ) .a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund-of-funds business of quellos and the remainder was used for general corporate purposes .interest is payable semi-annually in arrears on march 15 and september 15 of each year , or approximately $ 44 million per year .the 2017 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .the unamortized discount and debt issuance costs are being amortized over the remaining term of the 2017 notes .13 .commitments and contingencies operating lease commitments the company leases its primary office spaces under agreements that expire through 2035 .future minimum commitments under these operating leases are as follows : ( in millions ) .
[['year', 'amount'], ['2017', '142'], ['2018', '135'], ['2019', '125'], ['2020', '120'], ['2021', '112'], ['thereafter', '404'], ['total', '$ 1038']]
rent expense and certain office equipment expense under lease agreements amounted to $ 134 million , $ 136 million and $ 132 million in 2016 , 2015 and 2014 , respectively .investment commitments .at december 31 , 2016 , the company had $ 192 million of various capital commitments to fund sponsored investment funds , including consolidated vies .these funds include private equity funds , real assets funds , and opportunistic funds .this amount excludes additional commitments made by consolidated funds of funds to underlying third-party funds as third-party noncontrolling interest holders have the legal obligation to fund the respective commitments of such funds of funds .in addition to the capital commitments of $ 192 million , the company had approximately $ 12 million of contingent commitments for certain funds which have investment periods that have expired .generally , the timing of the funding of these commitments is unknown and the commitments are callable on demand at any time prior to the expiration of the commitment .these unfunded commitments are not recorded on the consolidated statements of financial condition .these commitments do not include potential future commitments approved by the company that are not yet legally binding .the company intends to make additional capital commitments from time to time to fund additional investment products for , and with , its clients .contingencies contingent payments related to business acquisitions .in connection with certain acquisitions , blackrock is required to make contingent payments , subject to achieving specified performance targets , which may include revenue related to acquired contracts or new capital commitments for certain products .the fair value of the remaining aggregate contingent payments at december 31 , 2016 totaled $ 115 million and is included in other liabilities on the consolidated statement of financial condition .other contingent payments .the company acts as the portfolio manager in a series of derivative transactions and has a maximum potential exposure of $ 17 million between the company and counterparty .see note 7 , derivatives and hedging , for further discussion .legal proceedings .from time to time , blackrock receives subpoenas or other requests for information from various u.s .federal , state governmental and domestic and international regulatory authorities in connection with .
|
what is the expected percentage change in rent expense and certain office equipment expense from 2017 to 2018?
|
-4.9%
|
{
"answer": "-4.9%",
"decimal": -0.049,
"type": "percentage"
}
| |
also during 2006 , the entities acquired approximately $ 4.8 billion of international paper debt obligations for cash , resulting in a total of approximately $ 5.2 billion of international paper debt obligations held by the entities at december 31 , 2006 .the various agreements entered into in connection with these transactions provide that international paper has , and intends to effect , a legal right to offset its obligation under these debt instruments with its investments in the entities .accordingly , for financial reporting purposes , international paper has offset approximately $ 5.2 billion of class b interests in the entities against $ 5.3 billion of international paper debt obligations held by these entities at december 31 , 2014 and 2013 .despite the offset treatment , these remain debt obligations of international paper .remaining borrowings of $ 50 million and $ 67 million at december 31 , 2014 and 2013 , respectively , are included in floating rate notes due 2014 2013 2019 in the summary of long-term debt in note 13 .additional debt related to the above transaction of $ 107 million and $ 79 million is included in short-term notes in the summary of long-term debt in note 13 at december 31 , 2014 and 2013 .the use of the above entities facilitated the monetization of the credit enhanced timber notes in a cost effective manner by increasing the borrowing capacity and lowering the interest rate , while providing for the offset accounting treatment described above .additionally , the monetization structure preserved the tax deferral that resulted from the 2006 forestlands sales .the company recognized a $ 1.4 billion deferred tax liability in connection with the 2006 forestlands sale , which will be settled with the maturity of the timber notes in the third quarter of 2016 ( unless extended ) .during 2011 and 2012 , the credit ratings for two letter of credit banks that support $ 1.5 billion of timber notes were downgraded below the specified threshold .these letters of credit were successfully replaced by other qualifying institutions .fees of $ 10 million were incurred during 2012 in connection with these replacements .during 2012 , an additional letter of credit bank that supports $ 707 million of timber notes was downgraded below the specified threshold .in december 2012 , the company and the third-party managing member agreed to a continuing replacement waiver for these letters of credit , terminable upon 30 days notice .activity between the company and the entities was as follows: .
[['in millions', '2014', '2013', '2012'], ['revenue ( loss ) ( a )', '$ 38', '$ 45', '$ 49'], ['expense ( a )', '72', '79', '90'], ['cash receipts ( b )', '22', '33', '36'], ['cash payments ( c )', '73', '84', '87']]
( a ) the net expense related to the company 2019s interest in the entities is included in interest expense , net in the accompanying consolidated statement of operations , as international paper has and intends to effect its legal right to offset as discussed above .( b ) the cash receipts are equity distributions from the entities to international paper .( c ) the semi-annual payments are related to interest on the associated debt obligations discussed above .based on an analysis of the entities discussed above under guidance that considers the potential magnitude of the variability in the structures and which party has a controlling financial interest , international paper determined that it is not the primary beneficiary of the entities , and therefore , should not consolidate its investments in these entities .it was also determined that the source of variability in the structure is the value of the timber notes , the assets most significantly impacting the structure 2019s economic performance .the credit quality of the timber notes is supported by irrevocable letters of credit obtained by third-party buyers which are 100% ( 100 % ) cash collateralized .international paper analyzed which party has control over the economic performance of each entity , and concluded international paper does not have control over significant decisions surrounding the timber notes and letters of credit and therefore is not the primary beneficiary .the company 2019s maximum exposure to loss equals the value of the timber notes ; however , an analysis performed by the company concluded the likelihood of this exposure is remote .international paper also held variable interests in financing entities that were used to monetize long-term notes received from the sale of forestlands in 2002 .international paper transferred notes ( the monetized notes , with an original maturity of 10 years from inception ) and cash of approximately $ 500 million to these entities in exchange for preferred interests , and accounted for the transfers as a sale of the notes with no associated gain or loss .in the same period , the entities acquired approximately $ 500 million of international paper debt obligations for cash .international paper has no obligation to make any further capital contributions to these entities and did not provide any financial support that was not previously contractually required during the years ended december 31 , 2014 , 2013 or 2012 .during 2012 , $ 252 million of the 2002 monetized notes matured .cash receipts upon maturity were used to pay the associated debt obligations .effective june 1 , 2012 , international paper liquidated its interest in the 2002 financing entities .in connection with the acquisition of temple-inland in february 2012 , two special purpose entities became wholly-owned subsidiaries of international paper. .
|
in the review of the activity between the company and the entities what was the ratio of the cash payments to the cash receipts
|
3.32
|
{
"answer": "3.32",
"decimal": 3.32,
"type": "float"
}
| |
management 2019s discussion and analysis of financial condition and results of operations comcast corporation and subsidiaries28 comcast corporation and subsidiaries the exchangeable notes varies based upon the fair market value of the security to which it is indexed .the exchangeable notes are collateralized by our investments in cablevision , microsoft and vodafone , respectively .the comcast exchangeable notes are collateralized by our class a special common stock held in treasury .we have settled and intend in the future to settle all of the comcast exchangeable notes using cash .during 2004 and 2003 , we settled an aggregate of $ 847 million face amount and $ 638 million face amount , respectively , of our obligations relating to our notes exchangeable into comcast stock by delivering cash to the counterparty upon maturity of the instruments , and the equity collar agreements related to the underlying shares expired or were settled .during 2004 and 2003 , we settled $ 2.359 billion face amount and $ 1.213 billion face amount , respectively , of our obligations relating to our exchangeable notes by delivering the underlying shares of common stock to the counterparty upon maturity of the investments .as of december 31 , 2004 , our debt includes an aggregate of $ 1.699 billion of exchangeable notes , including $ 1.645 billion within current portion of long-term debt .as of december 31 , 2004 , the securities we hold collateralizing the exchangeable notes were sufficient to substantially satisfy the debt obligations associated with the outstanding exchangeable notes .stock repurchases .during 2004 , under our board-authorized , $ 2 billion share repurchase program , we repurchased 46.9 million shares of our class a special common stock for $ 1.328 billion .we expect such repurchases to continue from time to time in the open market or in private transactions , subject to market conditions .refer to notes 8 and 10 to our consolidated financial statements for a discussion of our financing activities .investing activities net cash used in investing activities from continuing operations was $ 4.512 billion for the year ended december 31 , 2004 , and consists primarily of capital expenditures of $ 3.660 billion , additions to intangible and other noncurrent assets of $ 628 million and the acquisition of techtv for approximately $ 300 million .capital expenditures .our most significant recurring investing activity has been and is expected to continue to be capital expendi- tures .the following table illustrates the capital expenditures we incurred in our cable segment during 2004 and expect to incur in 2005 ( dollars in millions ) : .
[['', '2004', '2005'], ['deployment of cable modems digital converters and new service offerings', '$ 2106', '$ 2300'], ['upgrading of cable systems', '902', '200'], ['recurring capital projects', '614', '500'], ['total cable segment capital expenditures', '$ 3622', '$ 3000']]
the amount of our capital expenditures for 2005 and for subsequent years will depend on numerous factors , some of which are beyond our control , including competition , changes in technology and the timing and rate of deployment of new services .additions to intangibles .additions to intangibles during 2004 primarily relate to our investment in a $ 250 million long-term strategic license agreement with gemstar , multiple dwelling unit contracts of approximately $ 133 million and other licenses and software intangibles of approximately $ 168 million .investments .proceeds from sales , settlements and restructurings of investments totaled $ 228 million during 2004 , related to the sales of our non-strategic investments , including our 20% ( 20 % ) interest in dhc ventures , llc ( discovery health channel ) for approximately $ 149 million .we consider investments that we determine to be non-strategic , highly-valued , or both to be a source of liquidity .we consider our investment in $ 1.5 billion in time warner common-equivalent preferred stock to be an anticipated source of liquidity .we do not have any significant contractual funding commitments with respect to any of our investments .refer to notes 6 and 7 to our consolidated financial statements for a discussion of our investments and our intangible assets , respectively .off-balance sheet arrangements we do not have any significant off-balance sheet arrangements that are reasonably likely to have a current or future effect on our financial condition , results of operations , liquidity , capital expenditures or capital resources. .
|
what was the percent of the total capital expenditures we incurred in our cable segment in 2004 for recurring capital projects
|
17%
|
{
"answer": "17%",
"decimal": 0.17,
"type": "percentage"
}
| |
latin american investments during 2009 , the company acquired a land parcel located in rio clara , brazil through a newly formed consolidated joint venture in which the company has a 70% ( 70 % ) controlling ownership interest for a purchase price of 3.3 million brazilian reals ( approximately usd $ 1.5 million ) .this parcel will be developed into a 48000 square foot retail shopping center .additionally , during 2009 , the company acquired a land parcel located in san luis potosi , mexico , through an unconsolidated joint venture in which the company has a noncontrolling interest , for an aggregate purchase price of approximately $ 0.8 million .the company recognized equity in income from its unconsolidated mexican investments in real estate joint ventures of approximately $ 7.0 million , $ 17.1 million , and $ 5.2 million during 2009 , 2008 and 2007 , respectively .the company recognized equity in income from its unconsolidated chilean investments in real estate joint ventures of approximately $ 0.4 million , $ 0.2 and $ 0.1 million during 2009 , 2008 and 2007 , respectively .the company 2019s revenues from its consolidated mexican subsidiaries aggregated approximately $ 23.4 million , $ 20.3 million , $ 8.5 million during 2009 , 2008 and 2007 , respectively .the company 2019s revenues from its consolidated brazilian subsidiaries aggregated approximately $ 1.5 million and $ 0.4 million during 2009 and 2008 , respectively .the company 2019s revenues from its consolidated chilean subsidiaries aggregated less than $ 100000 during 2009 and 2008 , respectively .mortgages and other financing receivables during 2009 , the company provided financing to five borrowers for an aggregate amount of approximately $ 8.3 million .during 2009 , the company received an aggregate of approximately $ 40.4 million which fully paid down the outstanding balance on four mortgage receivables .as of december 31 , 2009 , the company had 37 loans with total commitments of up to $ 178.9 million , of which approximately $ 131.3 million has been funded .availability under the company 2019s revolving credit facilities are expected to be sufficient to fund these remaining commitments .( see note 10 of the notes to consolidated financial statements included in this annual report on form 10-k. ) asset impairments on a continuous basis , management assesses whether there are any indicators , including property operating performance and general market conditions , that the value of the company 2019s assets ( including any related amortizable intangible assets or liabilities ) may be impaired .to the extent impairment has occurred , the carrying value of the asset would be adjusted to an amount to reflect the estimated fair value of the asset .during 2009 , economic conditions had continued to experience volatility resulting in further declines in the real estate and equity markets .year over year increases in capitalization rates , discount rates and vacancies as well as the deterioration of real estate market fundamentals , negatively impacted net operating income and leasing which further contributed to declines in real estate markets in general .as a result of the volatility and declining market conditions described above , as well as the company 2019s strategy in relation to certain of its non-retail assets , the company recognized non-cash impairment charges during 2009 , aggregating approximately $ 175.1 million , before income tax benefit of approximately $ 22.5 million and noncontrolling interests of approximately $ 1.2 million .details of these non-cash impairment charges are as follows ( in millions ) : .
[['impairment of property carrying values', '$ 50.0'], ['real estate under development', '2.1'], ['investments in other real estate investments', '49.2'], ['marketable securities and other investments', '30.1'], ['investments in real estate joint ventures', '43.7'], ['total impairment charges', '$ 175.1']]
( see notes 2 , 6 , 8 , 9 , 10 and 11 of the notes to consolidated financial statements included in this annual report on form 10-k. ) .
|
what percentage of non-cash impairment charges came from real estate under development?
|
1.2%
|
{
"answer": "1.2%",
"decimal": 0.012,
"type": "percentage"
}
| |
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. .
|
what is the percentage of smurfit-kappa acquisition proposal costs among the total other corporate special items in addition in 2018?
|
40%
|
{
"answer": "40%",
"decimal": 0.4,
"type": "percentage"
}
|
it is the smurfit-kappa acquisition proposal costs divided by the total then turned into a 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 capital leases?
|
34%
|
{
"answer": "34%",
"decimal": 0.34,
"type": "percentage"
}
| |
bhge 2017 form 10-k | 29 the rig counts are summarized in the table below as averages for each of the periods indicated. .
[['', '2017', '2016', '2015'], ['north america', '1082', '642', '1178'], ['international', '948', '956', '1168'], ['worldwide', '2030', '1598', '2346']]
2017 compared to 2016 overall the rig count was 2030 in 2017 , an increase of 27% ( 27 % ) as compared to 2016 due primarily to north american activity .the rig count in north america increased 69% ( 69 % ) in 2017 compared to 2016 .internationally , the rig count decreased 1% ( 1 % ) in 2017 as compared to the same period last year .within north america , the increase was primarily driven by the land rig count , which was up 72% ( 72 % ) , partially offset by a decrease in the offshore rig count of 16% ( 16 % ) .internationally , the rig count decrease was driven primarily by decreases in latin america of 7% ( 7 % ) , the europe region and africa region , which were down by 4% ( 4 % ) and 2% ( 2 % ) , respectively , partially offset by the asia-pacific region , which was up 8% ( 8 % ) .2016 compared to 2015 overall the rig count was 1598 in 2016 , a decrease of 32% ( 32 % ) as compared to 2015 due primarily to north american activity .the rig count in north america decreased 46% ( 46 % ) in 2016 compared to 2015 .internationally , the rig count decreased 18% ( 18 % ) in 2016 compared to 2015 .within north america , the decrease was primarily driven by a 44% ( 44 % ) decline in oil-directed rigs .the natural gas- directed rig count in north america declined 50% ( 50 % ) in 2016 as natural gas well productivity improved .internationally , the rig count decrease was driven primarily by decreases in latin america , which was down 38% ( 38 % ) , the africa region , which was down 20% ( 20 % ) , and the europe region and asia-pacific region , which were down 18% ( 18 % ) and 15% ( 15 % ) , respectively .key performance indicators ( millions ) product services and backlog of product services our consolidated and combined statement of income ( loss ) displays sales and costs of sales in accordance with sec regulations under which "goods" is required to include all sales of tangible products and "services" must include all other sales , including other service activities .for the amounts shown below , we distinguish between "equipment" and "product services" , where product services refer to sales under product services agreements , including sales of both goods ( such as spare parts and equipment upgrades ) and related services ( such as monitoring , maintenance and repairs ) , which is an important part of its operations .we refer to "product services" simply as "services" within the business environment section of management's discussion and analysis .backlog is defined as unfilled customer orders for products and services believed to be firm .for product services , an amount is included for the expected life of the contract. .
|
what portion of the rig counts is related to north america in 2017?
|
53.3%
|
{
"answer": "53.3%",
"decimal": 0.5329999999999999,
"type": "percentage"
}
| |
18 2018 ppg annual report and 10-k research and development .
[['( $ in millions )', '2018', '2017', '2016'], ['research and development costs including depreciation of research facilities ( a )', '$ 464', '$ 472', '$ 473'], ['% ( % ) of annual net sales', '3.0% ( 3.0 % )', '3.2% ( 3.2 % )', '3.3% ( 3.3 % )']]
( a ) prior year amounts have been recast for the adoption of accounting standards update no .2017-07 , "improving the presentation of net periodic pension cost and net periodic postretirement benefit cost . 201d see note 1 within item 8 of this form 10-k for additional information .technology innovation has been a hallmark of ppg 2019s success throughout its history .the company seeks to optimize its investment in research and development to create new products to drive profitable growth .we align our product development with the macro trends in the markets we serve and leverage core technology platforms to develop products for unmet market needs .our history of successful technology introductions is based on a commitment to an efficient and effective innovation process and disciplined portfolio management .we have obtained government funding for a small portion of the company 2019s research efforts , and we will continue to pursue government funding where appropriate .ppg owns and operates several facilities to conduct research and development for new and improved products and processes .in addition to the company 2019s centralized principal research and development centers ( see item 2 .201cproperties 201d of this form 10-k ) , operating segments manage their development through centers of excellence .as part of our ongoing efforts to manage our formulations and raw material costs effectively , we operate a global competitive sourcing laboratory in china .because of the company 2019s broad array of products and customers , ppg is not materially dependent upon any single technology platform .raw materials and energy the effective management of raw materials and energy is important to ppg 2019s continued success .ppg uses a wide variety of complex raw materials that serve as the building blocks of our manufactured products that provide broad ranging , high performance solutions to our customers .the company 2019s most significant raw materials are epoxy and other resins , titanium dioxide and other pigments , and solvents in the coatings businesses and sand and soda ash for the specialty coatings and materials business .coatings raw materials include both organic , primarily petroleum-derived , materials and inorganic materials , including titanium dioxide .these raw materials represent ppg 2019s single largest production cost component .most of the raw materials and energy used in production are purchased from outside sources , and the company has made , and plans to continue to make , supply arrangements to meet our planned operating requirements for the future .supply of critical raw materials and energy is managed by establishing contracts with multiple sources , and identifying alternative materials or technology whenever possible .our products use both petroleum-derived and bio-based materials as part of a product renewal strategy .while prices for these raw materials typically fluctuate with energy prices and global supply and demand , such fluctuations are impacted by the fact that the manufacture of our raw materials is several steps downstream from crude oil and natural gas .the company is continuing its aggressive sourcing initiatives to broaden our supply of high quality raw materials .these initiatives include qualifying multiple and local sources of supply , including suppliers from asia and other lower cost regions of the world , adding on-site resin production at certain manufacturing locations and a reduction in the amount of titanium dioxide used in our product formulations .we are subject to existing and evolving standards relating to the registration of chemicals which could potentially impact the availability and viability of some of the raw materials we use in our production processes .our ongoing , global product stewardship efforts are directed at maintaining our compliance with these standards .ppg has joined a global initiative to eliminate child labor from the mica industry , and the company is continuing to take steps , including audits of our suppliers , to ensure compliance with ppg 2019s zero-tolerance policy against the use of child labor in their supply chains .changes to chemical registration regulations have been proposed or implemented in the eu and many other countries , including china , canada , the united states ( u.s. ) , brazil , mexico and korea .because implementation of many of these programs has not been finalized , the financial impact cannot be estimated at this time .we anticipate that the number of chemical registration regulations will continue to increase globally , and we have implemented programs to track and comply with these regulations .given the recent volatility in certain energy-based input costs and foreign currencies , the company is not able to predict with certainty the 2019 full year impact of related changes in raw material pricing versus 2018 ; however , ppg currently expects overall coatings raw material costs to increase a low-single-digit percentage in the first half of 2019 , with impacts varied by region and commodity .further , given the distribution nature of many of our businesses , logistics and distribution costs are sizable , as are wages and benefits but to a lesser degree .ppg typically experiences fluctuating prices for energy and raw materials driven by various factors , including changes in supplier feedstock costs and inventories , global industry activity levels , foreign currency exchange rates , government regulation , and global supply and demand factors .in aggregate , average .
|
what was the change in millions of research and development costs including depreciation of research facilities from 2016 to 2017?
|
-1
|
{
"answer": "-1",
"decimal": -1,
"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 2011 to 2012?
|
-44
|
{
"answer": "-44",
"decimal": -44,
"type": "float"
}
| |
table of contents valero energy corporation and subsidiaries notes to consolidated financial statements ( continued ) cash flow hedges cash flow hedges are used to hedge price volatility in certain forecasted feedstock and refined product purchases , refined product sales , and natural gas purchases .the objective of our cash flow hedges is to lock in the price of forecasted feedstock , product or natural gas purchases or refined product sales at existing market prices that we deem favorable .as of december 31 , 2011 , we had the following outstanding commodity derivative instruments that were entered into to hedge forecasted purchases or sales of crude oil and refined products .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:', ''], ['swaps 2013 long', '5961'], ['swaps 2013 short', '5961'], ['futures 2013 long', '38201'], ['futures 2013 short', '36637'], ['physical contracts 2013 short', '1564']]
.
|
how many more long future notional contracts mature by 2012 than short futures?
|
1564
|
{
"answer": "1564",
"decimal": 1564,
"type": "float"
}
| |
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 and significant accounting policies operations and segmentation 2013 we are a class i railroad that operates in the united states .we have 32012 route miles , linking pacific coast and gulf coast ports with the midwest and eastern united states 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 of dollars 2008 2007 2006 .
[['millions of dollars', '2008', '2007', '2006'], ['agricultural', '$ 3174', '$ 2605', '$ 2385'], ['automotive', '1344', '1458', '1427'], ['chemicals', '2494', '2287', '2084'], ['energy', '3810', '3134', '2949'], ['industrial products', '3273', '3077', '3135'], ['intermodal', '3023', '2925', '2811'], ['total freight revenues', '$ 17118', '$ 15486', '$ 14791'], ['other revenues', '852', '797', '787'], ['total operating revenues', '$ 17970', '$ 16283', '$ 15578']]
basis of presentation 2013 certain prior year amounts have been reclassified to conform to the current period financial statement presentation .the reclassifications include reporting freight revenues instead of commodity revenues .the amounts reclassified from freight revenues to other revenues totaled $ 30 million and $ 71 million for the years ended december 31 , 2007 , and december 31 , 2006 , respectively .in addition , we modified our operating expense categories to report fuel used in railroad operations as a stand-alone category , to combine purchased services and materials into one line , and to reclassify certain other expenses among operating expense categories .these reclassifications had no impact on previously reported operating revenues , total operating expenses , operating income or net income .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 significant intercompany transactions are eliminated .the corporation evaluates its less than majority-owned investments for consolidation .
|
what percentage of total freight revenues were energy in 2007?
|
20%
|
{
"answer": "20%",
"decimal": 0.2,
"type": "percentage"
}
| |
kimco realty corporation and subsidiaries notes to consolidated financial statements , continued investment in retail store leases 2014 the company has interests in various retail store leases relating to the anchor store premises in neighborhood and community shopping centers .these premises have been sublet to retailers who lease the stores pursuant to net lease agreements .income from the investment in these retail store leases during the years ended december 31 , 2010 , 2009 and 2008 , was approximately $ 1.6 million , $ 0.8 million and $ 2.7 million , respectively .these amounts represent sublease revenues during the years ended december 31 , 2010 , 2009 and 2008 , of approximately $ 5.9 million , $ 5.2 million and $ 7.1 million , respectively , less related expenses of $ 4.3 million , $ 4.4 million and $ 4.4 million , respectively .the company 2019s future minimum revenues under the terms of all non-cancelable tenant subleases and future minimum obligations through the remaining terms of its retail store leases , assuming no new or renegotiated leases are executed for such premises , for future years are as follows ( in millions ) : 2011 , $ 5.2 and $ 3.4 ; 2012 , $ 4.1 and $ 2.6 ; 2013 , $ 3.8 and $ 2.3 ; 2014 , $ 2.9 and $ 1.7 ; 2015 , $ 2.1 and $ 1.3 , and thereafter , $ 2.8 and $ 1.6 , respectively .leveraged lease 2014 during june 2002 , the company acquired a 90% ( 90 % ) equity participation interest in an existing leveraged lease of 30 properties .the properties are leased under a long-term bond-type net lease whose primary term expires in 2016 , with the lessee having certain renewal option rights .the company 2019s cash equity investment was approximately $ 4.0 million .this equity investment is reported as a net investment in leveraged lease in accordance with the fasb 2019s lease guidance .as of december 31 , 2010 , 18 of these properties were sold , whereby the proceeds from the sales were used to pay down the mortgage debt by approximately $ 31.2 million and the remaining 12 properties were encumbered by third-party non-recourse debt of approximately $ 33.4 million that is scheduled to fully amortize during the primary term of the lease from a portion of the periodic net rents receivable under the net lease .as an equity participant in the leveraged lease , the company has no recourse obligation for principal or interest payments on the debt , which is collateralized by a first mortgage lien on the properties and collateral assignment of the lease .accordingly , this obligation has been offset against the related net rental receivable under the lease .at december 31 , 2010 and 2009 , the company 2019s net investment in the leveraged lease consisted of the following ( in millions ) : .
[['', '2010', '2009'], ['remaining net rentals', '$ 37.6', '$ 44.1'], ['estimated unguaranteed residual value', '31.7', '31.7'], ['non-recourse mortgage debt', '-30.1 ( 30.1 )', '-34.5 ( 34.5 )'], ['unearned and deferred income', '-34.2 ( 34.2 )', '-37.0 ( 37.0 )'], ['net investment in leveraged lease', '$ 5.0', '$ 4.3']]
10 .variable interest entities : consolidated operating properties 2014 included within the company 2019s consolidated operating properties at december 31 , 2010 are four consolidated entities that are vies and for which the company is the primary beneficiary .all of these entities have been established to own and operate real estate property .the company 2019s involvement with these entities is through its majority ownership of the properties .these entities were deemed vies primarily based on the fact that the voting rights of the equity investors are not proportional to their obligation to absorb expected losses or receive the expected residual returns of the entity and substantially all of the entity 2019s activities are conducted on behalf of the investor which has disproportionately fewer voting rights .the company determined that it was the primary beneficiary of these vies as a result of its controlling financial interest .during 2010 , the company sold two consolidated vie 2019s which the company was the primary beneficiary. .
|
what is the total sublease revenue , in millions , from 2008-2010?
|
18.2
|
{
"answer": "18.2",
"decimal": 18.2,
"type": "float"
}
| |
contractual obligations the company's significant contractual obligations as of december 31 , 2014 are summarized below: .
[['( in thousands )', 'payments due by period total', 'payments due by period within 1 year', 'payments due by period 2 2013 3 years', 'payments due by period 4 2013 5 years', 'payments due by period after 5 years'], ['global headquarters operating lease ( 1 )', '$ 49415', '$ 4278', '$ 8556', '$ 8556', '$ 28025'], ['other operating leases ( 2 )', '29838', '10397', '12100', '4603', '2738'], ['unconditional purchase obligations ( 3 )', '9821', '5259', '4562', '2014', '2014'], ['obligations related to uncertain tax positions including interest and penalties ( 4 )', '209', '209', '2014', '2014', '2014'], ['other long-term obligations ( 5 )', '29861', '9206', '13378', '3611', '3666'], ['total contractual obligations', '$ 119144', '$ 29349', '$ 38596', '$ 16770', '$ 34429']]
( 1 ) on september 14 , 2012 , the company entered into a lease agreement for 186000 square feet of rentable space located in an office facility in canonsburg , pennsylvania , which serves as the company's new headquarters .the lease was effective as of september 14 , 2012 , but because the leased premises were under construction , the company was not obligated to pay rent until three months following the date that the leased premises were delivered to ansys , which occurred on october 1 , 2014 .the term of the lease is 183 months , beginning on october 1 , 2014 .the company shall have a one-time right to terminate the lease effective upon the last day of the tenth full year following the date of possession ( december 31 , 2024 ) , by providing the landlord with at least 18 months' prior written notice of such termination .the company's lease for its prior headquarters expired on december 31 , 2014 .( 2 ) other operating leases primarily include noncancellable lease commitments for the company 2019s other domestic and international offices as well as certain operating equipment .( 3 ) unconditional purchase obligations primarily include software licenses and long-term purchase contracts for network , communication and office maintenance services , which are unrecorded as of december 31 , 2014 .( 4 ) the company has $ 17.3 million of unrecognized tax benefits , including estimated interest and penalties , that have been recorded as liabilities in accordance with income tax accounting guidance for which the company is uncertain as to if or when such amounts may be settled .as a result , such amounts are excluded from the table above .( 5 ) other long-term obligations primarily include deferred compensation of $ 18.5 million ( including estimated imputed interest of $ 300000 within 1 year , $ 450000 within 2-3 years and $ 90000 within 4-5 years ) , pension obligations of $ 6.3 million for certain foreign locations of the company and contingent consideration of $ 2.8 million ( including estimated imputed interest of $ 270000 within 1 year and $ 390000 within 2-3 years ) .table of contents .
|
what percentage of total contractual obligations come from other operating leases?
|
25.04%
|
{
"answer": "25.04%",
"decimal": 0.2504,
"type": "percentage"
}
| |
a lump sum buyout cost of approximately $ 1.1 million .total rent expense under these leases , included in the accompanying consolidated statements of operations , was approximately $ 893000 , $ 856000 and $ 823000 for the fiscal years ended march 31 , 2001 , 2002 and 2003 , respectively .during the fiscal year ended march 31 , 2000 , the company entered into 36-month operating leases totaling approximately $ 644000 for the lease of office furniture .these leases ended in fiscal year 2003 and at the company 2019s option the furniture was purchased at its fair market value .rental expense recorded for these leases during the fiscal years ended march 31 , 2001 , 2002 and 2003 was approximately $ 215000 , $ 215000 and $ 127000 respectively .during fiscal 2000 , the company entered into a 36-month capital lease for computer equipment and software for approximately $ 221000 .this lease ended in fiscal year 2003 and at the company 2019s option these assets were purchased at the stipulated buyout price .future minimum lease payments under all non-cancelable operating leases as of march 31 , 2003 are approximately as follows ( in thousands ) : .
[['year ending march 31,', 'operating leases'], ['2004', '$ 781'], ['2005', '776'], ['2006', '776'], ['2007', '769'], ['2008', '772'], ['thereafter', '1480'], ['total future minimum lease payments', '$ 5354']]
from time to time , the company is involved in legal and administrative proceedings and claims of various types .while any litigation contains an element of uncertainty , management , in consultation with the company 2019s general counsel , presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened , or all of them combined , will not have a material adverse effect on the company .7 .stock option and purchase plans all stock options granted by the company under the below-described plans were granted at the fair value of the underlying common stock at the date of grant .outstanding stock options , if not exercised , expire 10 years from the date of grant .the 1992 combination stock option plan ( the combination plan ) , as amended , was adopted in september 1992 as a combination and restatement of the company 2019s then outstanding incentive stock option plan and nonqualified plan .a total of 2670859 options were awarded from the combination plan during its ten-year restatement term that ended on may 1 , 2002 .as of march 31 , 2003 , 1286042 of these options remain outstanding and eligible for future exercise .these options are held by company employees and generally become exercisable ratably over five years .the 1998 equity incentive plan , ( the equity incentive plan ) , was adopted by the company in august 1998 .the equity incentive plan provides for grants of options to key employees , directors , advisors and consultants as either incentive stock options or nonqualified stock options as determined by the company 2019s board of directors .a maximum of 1000000 shares of common stock may be awarded under this plan .options granted under the equity incentive plan are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant .options outstanding under the equity incentive plan have vesting periods of 3 to 5 years from the date of grant .the 2000 stock incentive plan , ( the 2000 plan ) , was adopted by the company in august 2000 .the 2000 plan provides for grants of options to key employees , directors , advisors and consultants to the company or its subsidiaries as either incentive or nonqualified stock options as determined by the company 2019s board of directors .up to 1400000 shares of common stock may be awarded under the 2000 plan and are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant .options outstanding under the 2000 plan generally vested 4 years from the date of grant .the company has a nonqualified stock option plan for non-employee directors ( the directors 2019 plan ) .the directors 2019 plan , as amended , was adopted in july 1989 and provides for grants of options to purchase shares of the company 2019s common stock to non-employee directors of the company .up to 400000 shares of common stock may be awarded under the directors 2019 plan .options outstanding under the directors 2019 plan have vesting periods of 1 to 5 years from the date of grant .notes to consolidated financial statements ( continued ) march 31 , 2003 page 25 .
|
what portion of total future minimum lease payments is due in the next 12 months?
|
14.6%
|
{
"answer": "14.6%",
"decimal": 0.146,
"type": "percentage"
}
| |
notes to the consolidated financial statements 40 2016 ppg annual report and form 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 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 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 and other distribution facilities .advertising costs advertising costs are expensed as incurred and totaled $ 322 million , $ 324 million and $ 297 million in 2016 , 2015 and 2014 , respectively .research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred. .
[['( $ in millions )', '2016', '2015', '2014'], ['research and development 2013 total', '$ 487', '$ 494', '$ 499'], ['less depreciation on research facilities', '21', '18', '16'], ['research and development net', '$ 466', '$ 476', '$ 483']]
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 net from 2015 to 2016?
|
-2%
|
{
"answer": "-2%",
"decimal": -0.02,
"type": "percentage"
}
| |
item 2 .properties we employ a variety of assets in the management and operation of our rail business .our rail network covers 23 states in the western two-thirds of the u.s .our rail network includes 31838 route miles .we own 26009 miles and operate on the remainder pursuant to trackage rights or leases .the following table describes track miles at december 31 , 2013 and 2012 .2013 2012 .
[['', '2013', '2012'], ['route', '31838', '31868'], ['other main line', '6766', '6715'], ['passing lines and turnouts', '3167', '3124'], ['switching and classification yard lines', '9090', '9046'], ['total miles', '50861', '50753']]
headquarters building we maintain our headquarters in omaha , nebraska .the facility has 1.2 million square feet of space for approximately 4000 employees and is subject to a financing arrangement .harriman dispatching center the harriman dispatching center ( hdc ) , located in omaha , nebraska , is our primary dispatching facility .it is linked to regional dispatching and locomotive management facilities at various locations along our .
|
what percentage of total miles of track were switching and classification yard lines in 2013?
|
18%
|
{
"answer": "18%",
"decimal": 0.18,
"type": "percentage"
}
| |
the redemptions resulted in an early extinguishment charge of $ 5 million .on march 22 , 2010 , we redeemed $ 175 million of our 6.5% ( 6.5 % ) notes due april 15 , 2012 .the redemption resulted in an early extinguishment charge of $ 16 million in the first quarter of 2010 .on november 1 , 2010 , we redeemed all $ 400 million of our outstanding 6.65% ( 6.65 % ) notes due january 15 , 2011 .the redemption resulted in a $ 5 million early extinguishment charge .receivables securitization facility 2013 as of december 31 , 2011 and 2010 , we have recorded $ 100 million as secured debt under our receivables securitization facility .( see further discussion of our receivables securitization facility in note 10 ) .15 .variable interest entities we have entered into various lease transactions in which the structure of the leases contain variable interest entities ( vies ) .these vies were created solely for the purpose of doing lease transactions ( principally involving railroad equipment and facilities , 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 vie 2019s .the future minimum lease payments associated with the vie leases totaled $ 3.9 billion as of december 31 , 2011 .16 .leases we lease certain locomotives , freight cars , and other property .the consolidated statement of financial position as of december 31 , 2011 and 2010 included $ 2458 million , net of $ 915 million of accumulated depreciation , and $ 2520 million , net of $ 901 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 , 2011 , were as follows : millions operating leases capital leases .
[['millions', 'operatingleases', 'capitalleases'], ['2012', '$ 525', '$ 297'], ['2013', '489', '269'], ['2014', '415', '276'], ['2015', '372', '276'], ['2016', '347', '262'], ['later years', '2380', '1179'], ['total minimum leasepayments', '$ 4528', '$ 2559'], ['amount representing interest', 'n/a', '-685 ( 685 )'], ['present value of minimum leasepayments', 'n/a', '$ 1874']]
the majority of capital lease payments relate to locomotives .rent expense for operating leases with terms exceeding one month was $ 637 million in 2011 , $ 624 million in 2010 , and $ 686 million in 2009 .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 percent of total minimum operating lease payments are due in 2013?
|
11%
|
{
"answer": "11%",
"decimal": 0.11,
"type": "percentage"
}
| |
maintenance and contract expenses incurred by our subsidiaries for external transportation services ) ; materials used to maintain the railroad 2019s lines , structures , and equipment ; costs of operating facilities jointly used by uprr and other railroads ; transportation and lodging for train crew employees ; trucking and contracting costs for intermodal containers ; leased automobile maintenance expenses ; and tools and supplies .expenses for contract services increased $ 103 million in 2012 versus 2011 , primarily due to increased demand for transportation services purchased by our logistics subsidiaries for their customers and additional costs for repair and maintenance of locomotives and freight cars .expenses for contract services increased $ 106 million in 2011 versus 2010 , driven by volume-related external transportation services incurred by our subsidiaries , and various other types of contractual services , including flood-related repairs , mitigation and improvements .volume-related crew transportation and lodging costs , as well as expenses associated with jointly owned operating facilities , also increased costs compared to 2010 .in addition , an increase in locomotive maintenance materials used to prepare a portion of our locomotive fleet for return to active service due to increased volume and additional capacity for weather related issues and warranty expirations increased expenses in 2011 .depreciation 2013 the majority of depreciation relates to road property , including rail , ties , ballast , and other track material .a higher depreciable asset base , reflecting ongoing capital spending , increased depreciation expense in 2012 compared to 2011 .a higher depreciable asset base , reflecting ongoing capital spending , increased depreciation expense in 2011 compared to 2010 .higher depreciation rates for rail and other track material also contributed to the increase .the higher rates , which became effective january 1 , 2011 , resulted primarily from increased track usage ( based on higher gross ton-miles in 2010 ) .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 .increased automotive and intermodal shipments , partially offset by improved car-cycle times , drove an increase in our short-term freight car rental expense in 2012 .conversely , lower locomotive lease expense partially offset the higher freight car rental expense .costs increased in 2011 versus 2010 as higher short-term freight car rental expense and container lease expense offset lower freight car and locomotive lease expense .other 2013 other expenses include personal injury , freight and property damage , destruction of equipment , insurance , environmental , bad debt , state and local taxes , utilities , telephone and cellular , employee travel , computer software , and other general expenses .other costs in 2012 were slightly higher than 2011 primarily due to higher property taxes .despite continual improvement in our safety experience and lower estimated annual costs , personal injury expense increased in 2012 compared to 2011 , as the liability reduction resulting from historical claim experience was less than the reduction in 2011 .higher property taxes , casualty costs associated with destroyed equipment , damaged freight and property and environmental costs increased other costs in 2011 compared to 2010 .a one-time payment of $ 45 million in the first quarter of 2010 related to a transaction with csxi and continued improvement in our safety performance and lower estimated liability for personal injury , which reduced our personal injury expense year-over-year , partially offset increases in other costs .non-operating items millions 2012 2011 2010 % ( % ) change 2012 v 2011 % ( % ) change 2011 v 2010 .
[['millions', '2012', '2011', '2010', '% ( % ) change 2012 v 2011', '% ( % ) change 2011 v 2010'], ['other income', '$ 108', '$ 112', '$ 54', '( 4 ) % ( % )', '107% ( 107 % )'], ['interest expense', '-535 ( 535 )', '-572 ( 572 )', '-602 ( 602 )', '-6 ( 6 )', '-5 ( 5 )'], ['income taxes', '-2375 ( 2375 )', '-1972 ( 1972 )', '-1653 ( 1653 )', '20% ( 20 % )', '19% ( 19 % )']]
other income 2013 other income decreased in 2012 versus 2011 due to lower gains from real estate sales and higher environmental costs associated with non-operating properties , partially offset by an interest payment from a tax refund. .
|
what was the change in other income from 2010 to 2011 in millions?
|
58
|
{
"answer": "58",
"decimal": 58,
"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 , 2010 in our common stock , the nasdaq composite index ( u.s .companies ) and the peer group index , and the reinvestment of any and all dividends. .
[['', '3/31/2010', '3/31/2011', '3/31/2012', '3/31/2013', '3/31/2014', '3/31/2015'], ['abiomed inc', '100', '140.79', '215.02', '180.91', '252.33', '693.60'], ['nasdaq composite index', '100', '115.98', '128.93', '136.26', '175.11', '204.38'], ['nasdaq medical equipment sic code 3840-3849', '100', '108.31', '115.05', '105.56', '123.18', '118.95']]
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 2010 to march 2013?
|
80.9%
|
{
"answer": "80.9%",
"decimal": 0.809,
"type": "percentage"
}
| |
17 .leases we lease certain locomotives , freight cars , and other property .the consolidated statements of financial position as of december 31 , 2016 , and 2015 included $ 1997 million , net of $ 1121 million of accumulated depreciation , and $ 2273 million , net of $ 1189 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 , 2016 , were as follows : millions operating leases capital leases .
[['millions', 'operatingleases', 'capitalleases'], ['2017', '$ 461', '$ 221'], ['2018', '390', '193'], ['2019', '348', '179'], ['2020', '285', '187'], ['2021', '245', '158'], ['later years', '1314', '417'], ['total minimum lease payments', '$ 3043', '$ 1355'], ['amount representing interest', 'n/a', '-250 ( 250 )'], ['present value of minimum lease payments', 'n/a', '$ 1105']]
approximately 96% ( 96 % ) of capital lease payments relate to locomotives .rent expense for operating leases with terms exceeding one month was $ 535 million in 2016 , $ 590 million in 2015 , and $ 593 million in 2014 .when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term .contingent rentals and sub-rentals are not significant .18 .commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries .we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity .to the extent possible , we have recorded a liability where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated .we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters .personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year .we use an actuarial analysis to measure the expense and liability , including unasserted claims .the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents .under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements .we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work .our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments .approximately 94% ( 94 % ) of the recorded liability is related to asserted claims and approximately 6% ( 6 % ) is related to unasserted claims at december 31 , 2016 .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 approximately $ 290 million to $ 317 million .we record an accrual at the low end of the range as no amount of loss within the range is more probable than any other .estimates can vary over time due to evolving trends in litigation. .
|
what is the percentage decrease from the approximate maximum of personal injury claims to the approximate minimum of personal injury claims?
|
8.52%
|
{
"answer": "8.52%",
"decimal": 0.0852,
"type": "percentage"
}
| |
the activity related to the restructuring liability for 2004 is as follows ( in thousands ) : non-operating items interest income increased $ 1.7 million to $ 12.0 million in 2005 from $ 10.3 million in 2004 .the increase was mainly the result of higher returns on invested funds .interest expense decreased $ 1.0 million , or 5% ( 5 % ) , to $ 17.3 million in 2005 from $ 18.3 million in 2004 as a result of the exchange of newly issued stock for a portion of our outstanding convertible debt in the second half of 2005 .in addition , as a result of the issuance during 2005 of common stock in exchange for convertible subordinated notes , we recorded a non- cash charge of $ 48.2 million .this charge related to the incremental shares issued in the transactions over the number of shares that would have been issued upon the conversion of the notes under their original terms .liquidity and capital resources we have incurred operating losses since our inception and historically have financed our operations principally through public and private offerings of our equity and debt securities , strategic collaborative agreements that include research and/or development funding , development milestones and royalties on the sales of products , investment income and proceeds from the issuance of stock under our employee benefit programs .at december 31 , 2006 , we had cash , cash equivalents and marketable securities of $ 761.8 million , which was an increase of $ 354.2 million from $ 407.5 million at december 31 , 2005 .the increase was primarily a result of : 2022 $ 313.7 million in net proceeds from our september 2006 public offering of common stock ; 2022 $ 165.0 million from an up-front payment we received in connection with signing the janssen agreement ; 2022 $ 52.4 million from the issuance of common stock under our employee benefit plans ; and 2022 $ 30.0 million from the sale of shares of altus pharmaceuticals inc .common stock and warrants to purchase altus common stock .these cash inflows were partially offset by the significant cash expenditures we made in 2006 related to research and development expenses and sales , general and administrative expenses .capital expenditures for property and equipment during 2006 were $ 32.4 million .at december 31 , 2006 , we had $ 42.1 million in aggregate principal amount of the 2007 notes and $ 59.6 million in aggregate principal amount of the 2011 notes outstanding .the 2007 notes are due in september 2007 and are convertible into common stock at the option of the holder at a price equal to $ 92.26 per share , subject to adjustment under certain circumstances .in february 2007 , we announced that we will redeem our 2011 notes on march 5 , 2007 .the 2011 notes are convertible into shares of our common stock at the option of the holder at a price equal to $ 14.94 per share .we expect the holders of the 2011 notes will elect to convert their notes into stock , in which case we will issue approximately 4.0 million .we will be required to repay any 2011 notes that are not converted at the rate of $ 1003.19 per $ 1000 principal amount , which includes principal and interest that will accrue to the redemption date .liability as of december 31 , payments in 2004 cash received from sublease , net of operating costs in 2004 additional charge in liability as of december 31 , lease restructuring liability and other operating lease liability $ 69526 $ ( 31550 ) $ 293 $ 17574 $ 55843 .
[['', 'liability as of december 31 2003', 'cash payments in 2004', 'cash received from sublease net of operating costs in 2004', 'additional charge in 2004', 'liability as of december 31 2004'], ['lease restructuring liability and other operating lease liability', '$ 69526', '$ -31550 ( 31550 )', '$ 293', '$ 17574', '$ 55843']]
the activity related to the restructuring liability for 2004 is as follows ( in thousands ) : non-operating items interest income increased $ 1.7 million to $ 12.0 million in 2005 from $ 10.3 million in 2004 .the increase was mainly the result of higher returns on invested funds .interest expense decreased $ 1.0 million , or 5% ( 5 % ) , to $ 17.3 million in 2005 from $ 18.3 million in 2004 as a result of the exchange of newly issued stock for a portion of our outstanding convertible debt in the second half of 2005 .in addition , as a result of the issuance during 2005 of common stock in exchange for convertible subordinated notes , we recorded a non- cash charge of $ 48.2 million .this charge related to the incremental shares issued in the transactions over the number of shares that would have been issued upon the conversion of the notes under their original terms .liquidity and capital resources we have incurred operating losses since our inception and historically have financed our operations principally through public and private offerings of our equity and debt securities , strategic collaborative agreements that include research and/or development funding , development milestones and royalties on the sales of products , investment income and proceeds from the issuance of stock under our employee benefit programs .at december 31 , 2006 , we had cash , cash equivalents and marketable securities of $ 761.8 million , which was an increase of $ 354.2 million from $ 407.5 million at december 31 , 2005 .the increase was primarily a result of : 2022 $ 313.7 million in net proceeds from our september 2006 public offering of common stock ; 2022 $ 165.0 million from an up-front payment we received in connection with signing the janssen agreement ; 2022 $ 52.4 million from the issuance of common stock under our employee benefit plans ; and 2022 $ 30.0 million from the sale of shares of altus pharmaceuticals inc .common stock and warrants to purchase altus common stock .these cash inflows were partially offset by the significant cash expenditures we made in 2006 related to research and development expenses and sales , general and administrative expenses .capital expenditures for property and equipment during 2006 were $ 32.4 million .at december 31 , 2006 , we had $ 42.1 million in aggregate principal amount of the 2007 notes and $ 59.6 million in aggregate principal amount of the 2011 notes outstanding .the 2007 notes are due in september 2007 and are convertible into common stock at the option of the holder at a price equal to $ 92.26 per share , subject to adjustment under certain circumstances .in february 2007 , we announced that we will redeem our 2011 notes on march 5 , 2007 .the 2011 notes are convertible into shares of our common stock at the option of the holder at a price equal to $ 14.94 per share .we expect the holders of the 2011 notes will elect to convert their notes into stock , in which case we will issue approximately 4.0 million .we will be required to repay any 2011 notes that are not converted at the rate of $ 1003.19 per $ 1000 principal amount , which includes principal and interest that will accrue to the redemption date .liability as of december 31 , payments in 2004 cash received from sublease , net of operating costs in 2004 additional charge in liability as of december 31 , lease restructuring liability and other operating lease liability $ 69526 $ ( 31550 ) $ 293 $ 17574 $ 55843 .
|
what was the change in the lease restructuring liability and other operating lease liability in 2004
|
-13683
|
{
"answer": "-13683",
"decimal": -13683,
"type": "float"
}
| |
other operating and administrative expenses increased slightly in 2015 due to increased expenses asso- ciated with our larger film slate .other operating and administrative expenses increased in 2014 primarily due to the inclusion of fandango , which was previously presented in our cable networks segment .advertising , marketing and promotion expenses advertising , marketing and promotion expenses consist primarily of expenses associated with advertising for our theatrical releases and the marketing of our films on dvd and in digital formats .we incur significant marketing expenses before and throughout the release of a film in movie theaters .as a result , we typically incur losses on a film prior to and during the film 2019s exhibition in movie theaters and may not realize profits , if any , until the film generates home entertainment and content licensing revenue .the costs associated with producing and marketing films have generally increased in recent years and may continue to increase in the future .advertising , marketing and promotion expenses increased in 2015 primarily due to higher promotional costs associated with our larger 2015 film slate and increased advertising expenses for fandango .advertising , marketing and promotion expenses decreased in 2014 primarily due to fewer major film releases compared to theme parks segment 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', '$ 3339', '$ 2623', '$ 2235', '27.3% ( 27.3 % )', '17.3% ( 17.3 % )'], ['operating costs and expenses', '1875', '1527', '1292', '22.8', '18.1'], ['operating income before depreciation and amortization', '$ 1464', '$ 1096', '$ 943', '33.5% ( 33.5 % )', '16.3% ( 16.3 % )']]
operating income before depreciation and amortization $ 1464 $ 1096 $ 943 33.5% ( 33.5 % ) 16.3% ( 16.3 % ) theme parks segment 2013 revenue in 2015 , our theme parks segment revenue was generated primarily from ticket sales and guest spending at our universal theme parks in orlando , florida and hollywood , california , as well as from licensing and other fees .in november 2015 , nbcuniversal acquired a 51% ( 51 % ) interest in universal studios japan .guest spending includes in-park spending on food , beverages and merchandise .guest attendance at our theme parks and guest spending depend heavily on the general environment for travel and tourism , including consumer spend- ing on travel and other recreational activities .licensing and other fees relate primarily to our agreements with third parties that own and operate the universal studios singapore theme park , as well as from the universal studios japan theme park , to license the right to use the universal studios brand name and other intellectual property .theme parks segment revenue increased in 2015 and 2014 primarily due to increases in guest attendance and increases in guest spending at our orlando and hollywood theme parks .the increase in 2015 was pri- marily due to the continued success of our attractions , including the wizarding world of harry potter 2122 2014 diagon alley 2122 in orlando and the fast & furious 2122 2014 supercharged 2122 studio tour and the simpson 2019s springfield attraction in hollywood , both of which opened in 2015 .in addition , theme parks segment revenue in 2015 includes $ 169 million of revenue attributable to universal studios japan for the period from november 13 , 2015 to december 31 , 2015 .the increase in 2014 was primarily due to new attractions , such as the wizarding world of harry potter 2122 2014 diagon alley 2122 in orlando , which opened in july 2014 , and despicable me : minion mayhem in hollywood .59 comcast 2015 annual report on form 10-k .
|
in 2015 what was the profit margin before before depreciation and amortization
|
44%
|
{
"answer": "44%",
"decimal": 0.44,
"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 , 2012 , 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 2013 .
[['derivative instrument', 'notionalcontractvolumes byyear ofmaturity 2013'], ['crude oil and refined products:', ''], ['futures 2013 long', '1052'], ['futures 2013 short', '4857'], ['physical contracts - long', '3805']]
.
|
what percentage increase would in long futures would need to occur to double the short futures?
|
462%
|
{
"answer": "462%",
"decimal": 4.62,
"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 percentage increase in the carrying vale of the furniture and equipment from 2004 to 2005
|
8.3%
|
{
"answer": "8.3%",
"decimal": 0.083,
"type": "percentage"
}
| |
liquidity and capital resources the following table summarizes liquidity data as of the dates indicated ( in thousands ) : december 31 , december 31 .
[['', 'december 31 2016', 'december 31 2015'], ['cash and equivalents', '$ 227400', '$ 87397'], ['total debt ( 1 )', '3365687', '1599695'], ['current maturities ( 2 )', '68414', '57494'], ['capacity under credit facilities ( 3 )', '2550000', '1947000'], ['availability under credit facilities ( 3 )', '1019112', '1337653'], ['total liquidity ( cash and equivalents plus availability on credit facilities )', '1246512', '1425050']]
total debt ( 1 ) 3365687 1599695 current maturities ( 2 ) 68414 57494 capacity under credit facilities ( 3 ) 2550000 1947000 availability under credit facilities ( 3 ) 1019112 1337653 total liquidity ( cash and equivalents plus availability on credit facilities ) 1246512 1425050 ( 1 ) debt amounts reflect the gross values to be repaid ( excluding debt issuance costs of $ 23.9 million and $ 15.0 million as of december 31 , 2016 and 2015 , respectively ) .( 2 ) debt amounts reflect the gross values to be repaid ( excluding debt issuance costs of $ 2.3 million and $ 1.5 million as of december 31 , 2016 and 2015 , respectively ) .( 3 ) includes our revolving credit facilities , our receivables securitization facility , and letters of credit .we assess our liquidity in terms of our ability to fund our operations and provide for expansion through both internal development and acquisitions .our primary sources of liquidity are cash flows from operations and our credit facilities .we utilize our cash flows from operations to fund working capital and capital expenditures , with the excess amounts going towards funding acquisitions or paying down outstanding debt .as we have pursued acquisitions as part of our growth strategy , our cash flows from operations have not always been sufficient to cover our investing activities .to fund our acquisitions , we have accessed various forms of debt financing , including revolving credit facilities , senior notes , and a receivables securitization facility .as of december 31 , 2016 , we had debt outstanding and additional available sources of financing , as follows : 2022 senior secured credit facilities maturing in january 2021 , composed of term loans totaling $ 750 million ( $ 732.7 million outstanding at december 31 , 2016 ) and $ 2.45 billion in revolving credit ( $ 1.36 billion outstanding at december 31 , 2016 ) , bearing interest at variable rates ( although a portion of this debt is hedged through interest rate swap contracts ) reduced by $ 72.7 million of amounts outstanding under letters of credit 2022 senior notes totaling $ 600 million , maturing in may 2023 and bearing interest at a 4.75% ( 4.75 % ) fixed rate 2022 euro notes totaling $ 526 million ( 20ac500 million ) , maturing in april 2024 and bearing interest at a 3.875% ( 3.875 % ) fixed rate 2022 receivables securitization facility with availability up to $ 100 million ( $ 100 million outstanding as of december 31 , 2016 ) , maturing in november 2019 and bearing interest at variable commercial paper from time to time , we may undertake financing transactions to increase our available liquidity , such as our january 2016 amendment to our senior secured credit facilities , the issuance of 20ac500 million of euro notes in april 2016 , and the november 2016 amendment to our receivables securitization facility .the rhiag acquisition was the catalyst for the april issuance of 20ac500 million of euro notes .given that rhiag is a long term asset , we considered alternative financing options and decided to fund a portion of this acquisition through the issuance of long term notes .additionally , the interest rates on rhiag's acquired debt ranged between 6.45% ( 6.45 % ) and 7.25% ( 7.25 % ) .with the issuance of the 20ac500 million of senior notes at a rate of 3.875% ( 3.875 % ) , we were able to replace rhiag's borrowings with long term financing at favorable rates .this refinancing also provides financial flexibility to execute our long-term growth strategy by freeing up availability under our revolver .if we see an attractive acquisition opportunity , we have the ability to use our revolver to move quickly and have certainty of funding .as of december 31 , 2016 , we had approximately $ 1.02 billion available under our credit facilities .combined with approximately $ 227.4 million of cash and equivalents at december 31 , 2016 , we had approximately $ 1.25 billion in available liquidity , a decrease of $ 178.5 million from our available liquidity as of december 31 , 2015 .we expect to use the proceeds from the sale of pgw's glass manufacturing business to pay down borrowings under our revolving credit facilities , which would increase our available liquidity by approximately $ 310 million when the transaction closes. .
|
based on the review of the liquidity and capital resources what was the ratio of the cash and equivalents in 2016 compared to 2015
|
2.6
|
{
"answer": "2.6",
"decimal": 2.6,
"type": "float"
}
| |
item 1b .unresolved staff comments item 2 .properties we employ a variety of assets in the management and operation of our rail business .our rail network covers 23 states in the western two-thirds of the u.s .our rail network includes 32084 route miles .we own 26064 miles and operate on the remainder pursuant to trackage rights or leases .the following table describes track miles at december 31 , 2015 and 2014. .
[['', '2015', '2014'], ['route', '32084', '31974'], ['other main line', '7012', '6943'], ['passing lines and turnouts', '3235', '3197'], ['switching and classification yard lines', '9108', '9058'], ['total miles', '51439', '51172']]
headquarters building we own our headquarters building in omaha , nebraska .the facility has 1.2 million square feet of space for approximately 4000 employees. .
|
what percentage of total miles were other main line in 2015?
|
14%
|
{
"answer": "14%",
"decimal": 0.14,
"type": "percentage"
}
| |
stock price performance the following graph shows a comparison of the cumulative total return on our common stock , the standard & poor 2019s 500 index and the standard & poor 2019s retail index .the graph assumes that the value of an investment in our common stock and in each such index was $ 100 on december 31 , 2011 , and that any dividends have been reinvested .the comparison in the graph below is based solely on historical data and is not intended to forecast the possible future performance of our common stock .comparison of cumulative total return among advance auto parts , inc. , s&p 500 index and s&p retail index company/index december 31 , december 29 , december 28 , january 3 , january 2 , december 31 .
[['company/index', 'december 31 2011', 'december 29 2012', 'december 28 2013', 'january 3 2015', 'january 2 2016', 'december 31 2016'], ['advance auto parts', '$ 100.00', '$ 102.87', '$ 158.46', '$ 228.88', '$ 217.49', '$ 244.64'], ['s&p 500 index', '100.00', '114.07', '152.98', '174.56', '177.01', '198.18'], ['s&p retail index', '100.00', '122.23', '178.55', '196.06', '245.31', '256.69']]
.
|
from january 3 2015 to december 31 , how much greater was the return for s&p retail index than for advance auto parts ? ( in a percentage )
|
43.9%
|
{
"answer": "43.9%",
"decimal": 0.439,
"type": "percentage"
}
|
to find how much greater a return was for the s&p retail index one must find the percentage gain for each company and then compare these percentage gains .
|
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 32122 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 26042 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 analyze revenue by commodity group , we treat the 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', '2017', '2016', '2015'], ['agricultural products', '$ 3685', '$ 3625', '$ 3581'], ['automotive', '1998', '2000', '2154'], ['chemicals', '3596', '3474', '3543'], ['coal', '2645', '2440', '3237'], ['industrial products', '4078', '3348', '3808'], ['intermodal', '3835', '3714', '4074'], ['total freight revenues', '$ 19837', '$ 18601', '$ 20397'], ['other revenues', '1403', '1340', '1416'], ['total operating revenues', '$ 21240', '$ 19941', '$ 21813']]
although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products we transport are outside the u.s .each of our commodity groups includes revenue from shipments to and from mexico .included in the above table are freight revenues from our mexico business which amounted to $ 2.3 billion in 2017 , $ 2.2 billion in 2016 , and $ 2.2 billion in 2015 .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 agricultural commodity group in 2016?
|
19%
|
{
"answer": "19%",
"decimal": 0.19,
"type": "percentage"
}
| |
average highway revenue equipment owned leased total age ( yrs. ) .
[['highway revenue equipment', 'owned', 'leased', 'total', 'average age ( yrs. )'], ['containers', '33633', '25998', '59631', '8.0'], ['chassis', '22086', '26837', '48923', '9.6'], ['total highway revenue equipment', '55719', '52835', '108554', 'n/a']]
capital expenditures our rail network requires significant annual capital investments for replacement , improvement , and expansion .these investments enhance safety , support the transportation needs of our customers , and improve our operational efficiency .additionally , we add new locomotives and freight cars to our fleet to replace older , less efficient equipment , to support growth and customer demand , and to reduce our impact on the environment through the acquisition of more fuel-efficient and low-emission locomotives .2015 capital program 2013 during 2015 , our capital program totaled $ 4.3 billion .( see the cash capital expenditures table in management 2019s discussion and analysis of financial condition and results of operations 2013 liquidity and capital resources , item 7. ) 2016 capital plan 2013 in 2016 , we expect our capital plan to be approximately $ 3.75 billion , which will include expenditures for ptc of approximately $ 375 million and may include non-cash investments .we may revise our 2016 capital plan if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments .( see discussion of our 2016 capital plan in management 2019s discussion and analysis of financial condition and results of operations 2013 2016 outlook , item 7. ) equipment encumbrances 2013 equipment with a carrying value of approximately $ 2.6 billion and $ 2.8 billion at december 31 , 2015 , and 2014 , respectively served as collateral for capital leases and other types of equipment obligations in accordance with the secured financing arrangements utilized to acquire or refinance such railroad equipment .as a result of the merger of missouri pacific railroad company ( mprr ) with and into uprr on january 1 , 1997 , and pursuant to the underlying indentures for the mprr mortgage bonds , uprr must maintain the same value of assets after the merger in order to comply with the security requirements of the mortgage bonds .as of the merger date , the value of the mprr assets that secured the mortgage bonds was approximately $ 6.0 billion .in accordance with the terms of the indentures , this collateral value must be maintained during the entire term of the mortgage bonds irrespective of the outstanding balance of such bonds .environmental matters 2013 certain of our properties are subject to federal , state , and local laws and regulations governing the protection of the environment .( see discussion of environmental issues in business 2013 governmental and environmental regulation , item 1 , and management 2019s discussion and analysis of financial condition and results of operations 2013 critical accounting policies 2013 environmental , item 7. ) item 3 .legal proceedings from time to time , we are involved in legal proceedings , claims , and litigation that occur in connection with our business .we routinely assess our liabilities and contingencies in connection with these matters based upon the latest available information and , when necessary , we seek input from our third-party advisors when making these assessments .consistent with sec rules and requirements , we describe below material pending legal proceedings ( other than ordinary routine litigation incidental to our business ) , material proceedings known to be contemplated by governmental authorities , other proceedings arising under federal , state , or local environmental laws and regulations ( including governmental proceedings involving potential fines , penalties , or other monetary sanctions in excess of $ 100000 ) , and such other pending matters that we may determine to be appropriate. .
|
what percentage of total highway revenue equipment leased is containers?
|
49%
|
{
"answer": "49%",
"decimal": 0.49,
"type": "percentage"
}
| |
kimco realty corporation and subsidiaries notes to consolidated financial statements , continued investment in retail store leases 2014 the company has interests in various retail store leases relating to the anchor store premises in neighborhood and community shopping centers .these premises have been sublet to retailers who lease the stores pursuant to net lease agreements .income from the investment in these retail store leases during the years ended december 31 , 2010 , 2009 and 2008 , was approximately $ 1.6 million , $ 0.8 million and $ 2.7 million , respectively .these amounts represent sublease revenues during the years ended december 31 , 2010 , 2009 and 2008 , of approximately $ 5.9 million , $ 5.2 million and $ 7.1 million , respectively , less related expenses of $ 4.3 million , $ 4.4 million and $ 4.4 million , respectively .the company 2019s future minimum revenues under the terms of all non-cancelable tenant subleases and future minimum obligations through the remaining terms of its retail store leases , assuming no new or renegotiated leases are executed for such premises , for future years are as follows ( in millions ) : 2011 , $ 5.2 and $ 3.4 ; 2012 , $ 4.1 and $ 2.6 ; 2013 , $ 3.8 and $ 2.3 ; 2014 , $ 2.9 and $ 1.7 ; 2015 , $ 2.1 and $ 1.3 , and thereafter , $ 2.8 and $ 1.6 , respectively .leveraged lease 2014 during june 2002 , the company acquired a 90% ( 90 % ) equity participation interest in an existing leveraged lease of 30 properties .the properties are leased under a long-term bond-type net lease whose primary term expires in 2016 , with the lessee having certain renewal option rights .the company 2019s cash equity investment was approximately $ 4.0 million .this equity investment is reported as a net investment in leveraged lease in accordance with the fasb 2019s lease guidance .as of december 31 , 2010 , 18 of these properties were sold , whereby the proceeds from the sales were used to pay down the mortgage debt by approximately $ 31.2 million and the remaining 12 properties were encumbered by third-party non-recourse debt of approximately $ 33.4 million that is scheduled to fully amortize during the primary term of the lease from a portion of the periodic net rents receivable under the net lease .as an equity participant in the leveraged lease , the company has no recourse obligation for principal or interest payments on the debt , which is collateralized by a first mortgage lien on the properties and collateral assignment of the lease .accordingly , this obligation has been offset against the related net rental receivable under the lease .at december 31 , 2010 and 2009 , the company 2019s net investment in the leveraged lease consisted of the following ( in millions ) : .
[['', '2010', '2009'], ['remaining net rentals', '$ 37.6', '$ 44.1'], ['estimated unguaranteed residual value', '31.7', '31.7'], ['non-recourse mortgage debt', '-30.1 ( 30.1 )', '-34.5 ( 34.5 )'], ['unearned and deferred income', '-34.2 ( 34.2 )', '-37.0 ( 37.0 )'], ['net investment in leveraged lease', '$ 5.0', '$ 4.3']]
10 .variable interest entities : consolidated operating properties 2014 included within the company 2019s consolidated operating properties at december 31 , 2010 are four consolidated entities that are vies and for which the company is the primary beneficiary .all of these entities have been established to own and operate real estate property .the company 2019s involvement with these entities is through its majority ownership of the properties .these entities were deemed vies primarily based on the fact that the voting rights of the equity investors are not proportional to their obligation to absorb expected losses or receive the expected residual returns of the entity and substantially all of the entity 2019s activities are conducted on behalf of the investor which has disproportionately fewer voting rights .the company determined that it was the primary beneficiary of these vies as a result of its controlling financial interest .during 2010 , the company sold two consolidated vie 2019s which the company was the primary beneficiary. .
|
as of dec 31 , 2010 , what was the average sale price , in millions , for the properties that were sold?
|
1.73
|
{
"answer": "1.73",
"decimal": 1.73,
"type": "float"
}
| |
a wholly-owned subsidiary of the company is a registered life insurance company that maintains separate account assets , representing segregated funds held for purposes of funding individual and group pension contracts , and equal and offsetting separate account liabilities .at decem - ber 31 , 2008 and 2007 , the level 3 separate account assets were approximately $ 4 and $ 12 , respectively .the changes in level 3 assets primarily relate to purchases , sales and gains/ ( losses ) .the net investment income and net gains and losses attributable to separate account assets accrue directly to the contract owner and are not reported as non-operating income ( expense ) on the consolidated statements of income .level 3 assets , which includes equity method investments or consolidated investments of real estate funds , private equity funds and funds of private equity funds are valued based upon valuations received from internal as well as third party fund managers .fair valuations at the underlying funds are based on a combination of methods which may include third-party independent appraisals and discounted cash flow techniques .direct investments in private equity companies held by funds of private equity funds are valued based on an assessment of each under - lying investment , incorporating evaluation of additional significant third party financing , changes in valuations of comparable peer companies and the business environment of the companies , among other factors .see note 2 for further detail on the fair value policies by the underlying funds .changes in level 3 assets measured at fair value on a recurring basis for the year ended december 31 , 2008 .
[['', 'investments', 'other assets'], ['december 31 2007', '$ 1240', '$ 2014'], ['realized and unrealized gains / ( losses ) net', '-409 ( 409 )', '-16 ( 16 )'], ['purchases sales other settlements and issuances net', '11', '2'], ['net transfers in and/or out of level 3', '-29 ( 29 )', '78'], ['december 31 2008', '$ 813', '$ 64'], ['total net ( losses ) for the period included in earnings attributable to the change in unrealized gains or ( losses ) relating to assets stillheld at the reporting date', '$ -366 ( 366 )', '$ -17 ( 17 )']]
total net ( losses ) for the period included in earnings attributable to the change in unrealized gains or ( losses ) relating to assets still held at the reporting date $ ( 366 ) $ ( 17 ) realized and unrealized gains and losses recorded for level 3 assets are reported in non-operating income ( expense ) on the consolidated statements of income .non-controlling interest expense is recorded for consoli- dated investments to reflect the portion of gains and losses not attributable to the company .the company transfers assets in and/or out of level 3 as significant inputs , including performance attributes , used for the fair value measurement become observable .6 .variable interest entities in the normal course of business , the company is the manager of various types of sponsored investment vehicles , including collateralized debt obligations and sponsored investment funds , that may be considered vies .the company receives management fees or other incen- tive related fees for its services and may from time to time own equity or debt securities or enter into derivatives with the vehicles , each of which are considered variable inter- ests .the company engages in these variable interests principally to address client needs through the launch of such investment vehicles .the vies are primarily financed via capital contributed by equity and debt holders .the company 2019s involvement in financing the operations of the vies is limited to its equity interests , unfunded capital commitments for certain sponsored investment funds and its capital support agreements for two enhanced cash funds .the primary beneficiary of a vie is the party that absorbs a majority of the entity 2019s expected losses , receives a major - ity of the entity 2019s expected residual returns or both as a result of holding variable interests .in order to determine whether the company is the primary beneficiary of a vie , management must make significant estimates and assumptions of probable future cash flows and assign probabilities to different cash flow scenarios .assumptions made in such analyses include , but are not limited to , market prices of securities , market interest rates , poten- tial credit defaults on individual securities or default rates on a portfolio of securities , gain realization , liquidity or marketability of certain securities , discount rates and the probability of certain other outcomes .vies in which blackrock is the primary beneficiary at december 31 , 2008 , the company was the primary beneficiary of three vies , which resulted in consolidation of three sponsored investment funds ( including two cash management funds and one private equity fund of funds ) .creditors of the vies do not have recourse to the credit of the company .during 2008 , the company determined it became the primary beneficiary of two enhanced cash management funds as a result of concluding that under various cash 177528_txt_59_96:layout 1 3/26/09 10:32 pm page 73 .
|
what is the net change in the balance of level 3 investments assets during 2008?
|
-427
|
{
"answer": "-427",
"decimal": -427,
"type": "float"
}
| |
2018 a0form 10-k18 item 7 .management 2019s discussion and analysis of financial condition and results of operations .this management 2019s discussion and analysis of financial condition and results of operations should be read in conjunction with our discussion of cautionary statements and significant risks to the company 2019s business under item 1a .risk factors of the 2018 form a010-k .overview our sales and revenues for 2018 were $ 54.722 billion , a 20 a0percent increase from 2017 sales and revenues of $ 45.462 a0billion .the increase was primarily due to higher sales volume , mostly due to improved demand across all regions and across the three primary segments .profit per share for 2018 was $ 10.26 , compared to profit per share of $ 1.26 in 2017 .profit was $ 6.147 billion in 2018 , compared with $ 754 million in 2017 .the increase was primarily due to lower tax expense , higher sales volume , decreased restructuring costs and improved price realization .the increase was partially offset by higher manufacturing costs and selling , general and administrative ( sg&a ) and research and development ( r&d ) expenses and lower profit from the financial products segment .fourth-quarter 2018 sales and revenues were $ 14.342 billion , up $ 1.446 billion , or 11 percent , from $ 12.896 billion in the fourth quarter of 2017 .fourth-quarter 2018 profit was $ 1.78 per share , compared with a loss of $ 2.18 per share in the fourth quarter of 2017 .fourth-quarter 2018 profit was $ 1.048 billion , compared with a loss of $ 1.299 billion in 2017 .highlights for 2018 include : zz sales and revenues in 2018 were $ 54.722 billion , up 20 a0percent from 2017 .sales improved in all regions and across the three primary segments .zz operating profit as a percent of sales and revenues was 15.2 a0percent in 2018 , compared with 9.8 percent in 2017 .adjusted operating profit margin was 15.9 percent in 2018 , compared with 12.5 percent in 2017 .zz profit was $ 10.26 per share for 2018 , and excluding the items in the table below , adjusted profit per share was $ 11.22 .for 2017 profit was $ 1.26 per share , and excluding the items in the table below , adjusted profit per share was $ 6.88 .zz in order for our results to be more meaningful to our readers , we have separately quantified the impact of several significant items: .
[['( millions of dollars )', 'full year 2018 profit before taxes', 'full year 2018 profitper share', 'full year 2018 profit before taxes', 'profitper share'], ['profit', '$ 7822', '$ 10.26', '$ 4082', '$ 1.26'], ['restructuring costs', '386', '0.50', '1256', '1.68'], ['mark-to-market losses', '495', '0.64', '301', '0.26'], ['deferred tax valuation allowance adjustments', '2014', '-0.01 ( 0.01 )', '2014', '-0.18 ( 0.18 )'], ['u.s . tax reform impact', '2014', '-0.17 ( 0.17 )', '2014', '3.95'], ['gain on sale of equity investment', '2014', '2014', '-85 ( 85 )', '-0.09 ( 0.09 )'], ['adjusted profit', '$ 8703', '$ 11.22', '$ 5554', '$ 6.88']]
zz machinery , energy & transportation ( me&t ) operating cash flow for 2018 was about $ 6.3 billion , more than sufficient to cover capital expenditures and dividends .me&t operating cash flow for 2017 was about $ 5.5 billion .restructuring costs in recent years , we have incurred substantial restructuring costs to achieve a flexible and competitive cost structure .during 2018 , we incurred $ 386 million of restructuring costs related to restructuring actions across the company .during 2017 , we incurred $ 1.256 billion of restructuring costs with about half related to the closure of the facility in gosselies , belgium , and the remainder related to other restructuring actions across the company .although we expect restructuring to continue as part of ongoing business activities , restructuring costs should be lower in 2019 than 2018 .notes : zz glossary of terms included on pages 33-34 ; first occurrence of terms shown in bold italics .zz information on non-gaap financial measures is included on pages 42-43. .
|
what is the profit margin in 2018?
|
11.2%
|
{
"answer": "11.2%",
"decimal": 0.11199999999999999,
"type": "percentage"
}
| |
depending upon our senior unsecured debt ratings .the facilities require the maintenance of a minimum net worth and a debt to net worth coverage ratio .at december 31 , 2006 , we were in compliance with these covenants .the facilities do not include any other financial restrictions , credit rating triggers ( other than rating-dependent pricing ) , or any other provision that could require the posting of collateral .in addition to our revolving credit facilities , we had $ 150 million in uncommitted lines of credit available , including $ 75 million that expires in march 2007 and $ 75 million expiring in may 2007 .neither of these lines of credit were used as of december 31 , 2006 .we must have equivalent credit available under our five-year facilities to draw on these $ 75 million lines .dividend restrictions 2013 we are subject to certain restrictions related to the payment of cash dividends to our shareholders due to minimum net worth requirements under the credit facilities referred to above .the amount of retained earnings available for dividends was $ 7.8 billion and $ 6.2 billion at december 31 , 2006 and 2005 , respectively .we do not expect that these restrictions will have a material adverse effect on our consolidated financial condition , results of operations , or liquidity .we declared dividends of $ 323 million in 2006 and $ 316 million in 2005 .shelf registration statement 2013 under a current shelf registration statement , we may issue any combination of debt securities , preferred stock , common stock , or warrants for debt securities or preferred stock in one or more offerings .at december 31 , 2006 , we had $ 500 million remaining for issuance under the current shelf registration statement .we have no immediate plans to issue any securities ; however , we routinely consider and evaluate opportunities to replace existing debt or access capital through issuances of debt securities under this shelf registration , and , therefore , we may issue debt securities at any time .6 .leases we lease certain locomotives , freight cars , and other property .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 , 2006 were as follows : millions of dollars operating leases capital leases .
[['millions of dollars', 'operatingleases', 'capital leases'], ['2007', '$ 624', '$ 180'], ['2008', '546', '173'], ['2009', '498', '168'], ['2010', '456', '148'], ['2011', '419', '157'], ['later years', '2914', '1090'], ['total minimum lease payments', '$ 5457', '$ 1916'], ['amount representing interest', 'n/a', '-680 ( 680 )'], ['present value of minimum lease payments', 'n/a', '$ 1236']]
rent expense for operating leases with terms exceeding one month was $ 798 million in 2006 , $ 728 million in 2005 , and $ 651 million in 2004 .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 percentage of total minimum lease payments are operating leases as of december 31 , 2006?
|
74%
|
{
"answer": "74%",
"decimal": 0.74,
"type": "percentage"
}
| |
operating expenses millions 2012 2011 2010 % ( % ) change 2012 v 2011 % ( % ) change 2011 v 2010 .
[['millions', '2012', '2011', '2010', '% ( % ) change 2012 v 2011', '% ( % ) change 2011 v 2010'], ['compensation and benefits', '$ 4685', '$ 4681', '$ 4314', '-% ( - % )', '9% ( 9 % )'], ['fuel', '3608', '3581', '2486', '1', '44'], ['purchased services and materials', '2143', '2005', '1836', '7', '9'], ['depreciation', '1760', '1617', '1487', '9', '9'], ['equipment and other rents', '1197', '1167', '1142', '3', '2'], ['other', '788', '782', '719', '1', '9'], ['total', '$ 14181', '$ 13833', '$ 11984', '3% ( 3 % )', '15% ( 15 % )']]
operating expenses increased $ 348 million in 2012 versus 2011 .depreciation , wage and benefit inflation , higher fuel prices and volume- related trucking services purchased by our logistics subsidiaries , contributed to higher expenses during the year .efficiency gains , volume related fuel savings ( 2% ( 2 % ) fewer gallons of fuel consumed ) and $ 38 million of weather related expenses in 2011 , which favorably affects the comparison , partially offset the cost increase .operating expenses increased $ 1.8 billion in 2011 versus 2010 .our fuel price per gallon rose 36% ( 36 % ) during 2011 , accounting for $ 922 million of the increase .wage and benefit inflation , volume-related costs , depreciation , and property taxes also contributed to higher expenses .expenses increased $ 20 million for costs related to the flooding in the midwest and $ 18 million due to the impact of severe heat and drought in the south , primarily texas .cost savings from productivity improvements and better resource utilization partially offset these increases .a $ 45 million one-time payment relating to a transaction with csx intermodal , inc ( csxi ) increased operating expenses during the first quarter of 2010 , which favorably affects the comparison of operating expenses in 2011 to those in 2010 .compensation and benefits 2013 compensation and benefits include wages , payroll taxes , health and welfare costs , pension costs , other postretirement benefits , and incentive costs .expenses in 2012 were essentially flat versus 2011 as operational improvements and cost reductions offset general wage and benefit inflation and higher pension and other postretirement benefits .in addition , weather related costs increased these expenses in 2011 .a combination of general wage and benefit inflation , volume-related expenses , higher training costs associated with new hires , additional crew costs due to speed restrictions caused by the midwest flooding and heat and drought in the south , and higher pension expense drove the increase during 2011 compared to 2010 .fuel 2013 fuel includes locomotive fuel and gasoline for highway and non-highway vehicles and heavy equipment .higher locomotive diesel fuel prices , which averaged $ 3.22 per gallon ( including taxes and transportation costs ) in 2012 , compared to $ 3.12 in 2011 , increased expenses by $ 105 million .volume , as measured by gross ton-miles , decreased 2% ( 2 % ) in 2012 versus 2011 , driving expense down .the fuel consumption rate was flat year-over-year .higher locomotive diesel fuel prices , which averaged $ 3.12 ( including taxes and transportation costs ) in 2011 , compared to $ 2.29 per gallon in 2010 , increased expenses by $ 922 million .in addition , higher gasoline prices for highway and non-highway vehicles also increased year-over-year .volume , as measured by gross ton-miles , increased 5% ( 5 % ) in 2011 versus 2010 , driving expense up by $ 122 million .purchased services and materials 2013 expense for purchased services and materials includes the costs of services purchased from outside contractors and other service providers ( including equipment 2012 operating expenses .
|
what percentage of total operating expenses was purchased services and materials in 2012?
|
15%
|
{
"answer": "15%",
"decimal": 0.15,
"type": "percentage"
}
| |
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 , 2010 in our common stock , the nasdaq composite index ( u.s .companies ) and the peer group index , and the reinvestment of any and all dividends. .
[['', '3/31/2010', '3/31/2011', '3/31/2012', '3/31/2013', '3/31/2014', '3/31/2015'], ['abiomed inc', '100', '140.79', '215.02', '180.91', '252.33', '693.60'], ['nasdaq composite index', '100', '115.98', '128.93', '136.26', '175.11', '204.38'], ['nasdaq medical equipment sic code 3840-3849', '100', '108.31', '115.05', '105.56', '123.18', '118.95']]
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 nasdaq composite index from march 2010 to march 2013?
|
36.3%
|
{
"answer": "36.3%",
"decimal": 0.363,
"type": "percentage"
}
| |
14 .leases we lease certain locomotives , freight cars , and other property .the consolidated statement of financial position as of december 31 , 2009 and 2008 included $ 2754 million , net of $ 927 million of accumulated depreciation , and $ 2024 million , net of $ 869 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 , 2009 were as follows : millions of dollars operating leases capital leases .
[['millions of dollars', 'operatingleases', 'capital leases'], ['2010', '$ 576', '$ 290'], ['2011', '570', '292'], ['2012', '488', '247'], ['2013', '425', '256'], ['2014', '352', '267'], ['later years', '2901', '1623'], ['total minimum lease payments', '$ 5312', '$ 2975'], ['amount representing interest', 'n/a', '-914 ( 914 )'], ['present value of minimum lease payments', 'n/a', '$ 2061']]
the majority of capital lease payments relate to locomotives .rent expense for operating leases with terms exceeding one month was $ 686 million in 2009 , $ 747 million in 2008 , and $ 810 million in 2007 .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 .
|
what percent of total minimum operating lease payments are due in 2012?
|
9%
|
{
"answer": "9%",
"decimal": 0.09,
"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 is the proportion of dollars at the beginning of both combined years to dollars at end of both combined years?
|
1.33:1
|
{
"answer": "1.33:1",
"decimal": 1.33,
"type": "open_ended_answer"
}
| |
part i item 1 .business .general development of business general : altria group , inc .is a holding company incorporated in the commonwealth of virginia in 1985 .at december 31 , 2014 , altria group , inc . 2019s wholly-owned subsidiaries included philip morris usa inc .( 201cpm usa 201d ) , which is engaged predominantly in the manufacture and sale of cigarettes in the united states ; john middleton co .( 201cmiddleton 201d ) , which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco , and is a wholly- owned subsidiary of pm usa ; and ust llc ( 201cust 201d ) , which through its wholly-owned subsidiaries , including u.s .smokeless tobacco company llc ( 201cusstc 201d ) and ste .michelle wine estates ltd .( 201cste .michelle 201d ) , is engaged in the manufacture and sale of smokeless tobacco products and wine .altria group , inc . 2019s other operating companies included nu mark llc ( 201cnu mark 201d ) , a wholly-owned subsidiary that is engaged in the manufacture and sale of innovative tobacco products , and philip morris capital corporation ( 201cpmcc 201d ) , a wholly-owned subsidiary that maintains a portfolio of finance assets , substantially all of which are leveraged leases .other altria group , inc .wholly-owned subsidiaries included altria group distribution company , which provides sales , distribution and consumer engagement services to certain altria group , inc .operating subsidiaries , and altria client services inc. , which provides various support services , such as legal , regulatory , finance , human resources and external affairs , to altria group , inc .and its subsidiaries .at december 31 , 2014 , altria group , inc .also held approximately 27% ( 27 % ) of the economic and voting interest of sabmiller plc ( 201csabmiller 201d ) , which altria group , inc .accounts for under the equity method of accounting .source of funds : because altria group , inc .is a holding company , its access to the operating cash flows of its wholly- owned subsidiaries consists of cash received from the payment of dividends and distributions , and the payment of interest on intercompany loans by its subsidiaries .at december 31 , 2014 , altria group , inc . 2019s principal wholly-owned subsidiaries were not limited by long-term debt or other agreements in their ability to pay cash dividends or make other distributions with respect to their equity interests .in addition , altria group , inc .receives cash dividends on its interest in sabmiller if and when sabmiller pays such dividends .financial information about segments altria group , inc . 2019s reportable segments are smokeable products , smokeless products and wine .the financial services and the innovative tobacco products businesses are included in an all other category due to the continued reduction of the lease portfolio of pmcc and the relative financial contribution of altria group , inc . 2019s innovative tobacco products businesses to altria group , inc . 2019s consolidated results .altria group , inc . 2019s chief operating decision maker reviews operating companies income to evaluate the performance of , and allocate resources to , the segments .operating companies income for the segments is defined as operating income before amortization of intangibles and general corporate expenses .interest and other debt expense , net , and provision for income taxes are centrally managed at the corporate level and , accordingly , such items are not presented by segment since they are excluded from the measure of segment profitability reviewed by altria group , inc . 2019s chief operating decision maker .net revenues and operating companies income ( together with a reconciliation to earnings before income taxes ) attributable to each such segment for each of the last three years are set forth in note 15 .segment reporting to the consolidated financial statements in item 8 .financial statements and supplementary data of this annual report on form 10-k ( 201citem 8 201d ) .information about total assets by segment is not disclosed because such information is not reported to or used by altria group , inc . 2019s chief operating decision maker .segment goodwill and other intangible assets , net , are disclosed in note 4 .goodwill and other intangible assets , net to the consolidated financial statements in item 8 ( 201cnote 4 201d ) .the accounting policies of the segments are the same as those described in note 2 .summary of significant accounting policies to the consolidated financial statements in item 8 ( 201cnote 2 201d ) .the relative percentages of operating companies income ( loss ) attributable to each reportable segment and the all other category were as follows: .
[['', '2014', '2013', '2012'], ['smokeable products', '87.2% ( 87.2 % )', '84.5% ( 84.5 % )', '83.7% ( 83.7 % )'], ['smokeless products', '13.4', '12.2', '12.5'], ['wine', '1.7', '1.4', '1.4'], ['all other', '-2.3 ( 2.3 )', '1.9', '2.4'], ['total', '100.0% ( 100.0 % )', '100.0% ( 100.0 % )', '100.0% ( 100.0 % )']]
for items affecting the comparability of the relative percentages of operating companies income ( loss ) attributable to each reportable segment , see note 15 .segment reporting to the consolidated financial statements in item 8 ( 201cnote 15 201d ) .narrative description of business portions of the information called for by this item are included in item 7 .management 2019s discussion and analysis of financial condition and results of operations - operating results by business segment of this annual report on form 10-k .tobacco space altria group , inc . 2019s tobacco operating companies include pm usa , usstc and other subsidiaries of ust , middleton and nu mark .altria group distribution company provides sales , distribution and consumer engagement services to altria group , inc . 2019s tobacco operating companies .the products of altria group , inc . 2019s tobacco subsidiaries include smokeable tobacco products comprised of cigarettes manufactured and sold by pm usa and machine-made large altria_mdc_2014form10k_nolinks_crops.pdf 3 2/25/15 5:56 pm .
|
how did the percentage of operating income related to smokeless product change from 2013 to 2014 relative the total operating income?
|
9.8%
|
{
"answer": "9.8%",
"decimal": 0.098,
"type": "percentage"
}
| |
asian industrial packaging net sales for 2007 were $ 265 million compared with $ 180 million in 2006 .in 2005 , net sales were $ 105 million sub- sequent to international paper 2019s acquisition of a majority interest in this business in august 2005 .operating profits totaled $ 6 million in 2007 and $ 3 million in 2006 , compared with a loss of $ 4 million in consumer packaging demand and pricing for consumer packaging prod- ucts correlate closely with consumer spending and general economic activity .in addition to prices and volumes , major factors affecting the profitability of consumer packaging are raw material and energy costs , freight costs , manufacturing efficiency and product mix .consumer packaging net sales increased 12% ( 12 % ) compared with 2006 and 24% ( 24 % ) compared with 2005 .operating profits rose 15% ( 15 % ) from 2006 and 24% ( 24 % ) from 2005 levels .benefits from improved average sales price realizations ( $ 52 million ) , higher sales volumes for u.s .and european coated paperboard ( $ 9 million ) , favorable mill operations ( $ 14 million ) and contributions from international paper & sun cartonboard co. , ltd .acquired in 2006 ( $ 16 million ) , were partially offset by higher raw material and energy costs ( $ 53 million ) , an unfavorable mix of products sold ( $ 4 million ) , increased freight costs ( $ 5 million ) and other costs ( $ 3 million ) .consumer packaging in millions 2007 2006 2005 .
[['in millions', '2007', '2006', '2005'], ['sales', '$ 3015', '$ 2685', '$ 2435'], ['operating profit', '$ 198', '$ 172', '$ 160']]
north american consumer packaging net sales were $ 2.4 billion in both 2007 and 2006 com- pared with $ 2.2 billion in 2005 .operating earnings of $ 143 million in 2007 improved from $ 129 million in 2006 and $ 121 million in 2005 .coated paperboard sales volumes increased in 2007 compared with 2006 , particularly for folding carton board , reflecting improved demand .average sales price realizations substantially improved in 2007 for both folding carton board and cup stock .the impact of the higher sales prices combined with improved manufacturing performance at our mills more than offset the negative effects of higher wood and energy costs .foodservice sales volumes were slightly higher in 2007 than in 2006 .average sales prices were also higher reflecting the realization of price increases implemented to recover raw material cost increases .in addition , a more favorable mix of hot cups and food containers led to higher average margins .raw material costs for bleached board and polystyrene were higher than in 2006 , but these increases were partially offset by improved manufacturing costs reflecting increased productivity and reduced waste .shorewood sales volumes in 2007 declined from 2006 levels due to weak demand in the home enter- tainment , tobacco and display markets , although demand was stronger in the consumer products segment .sales margins declined from 2006 reflect- ing a less favorable mix of products sold .raw material costs were higher for bleached board , but this impact was more than offset by improved manufacturing operations and lower operating costs .charges to restructure operations also impacted 2007 results .entering 2008 , coated paperboard sales volumes are expected to be about even with the fourth quarter of 2007 , while average sales price realizations are expected to slightly improve .earnings should bene- fit from fewer planned mill maintenance outages compared with the 2007 fourth quarter .however , costs for wood , polyethylene and energy are expected to be higher .foodservice results are expected to benefit from increased sales volumes and higher sales price realizations .shorewood sales volumes for the first quarter 2008 are expected to seasonally decline , but this negative impact should be partially offset by benefits from cost improve- ments associated with prior-year restructuring actions .european consumer packaging net sales in 2007 were $ 280 million compared with $ 230 million in 2006 and $ 190 million in 2005 .sales volumes in 2007 were higher than in 2006 reflecting stronger market demand and improved productivity at our kwidzyn mill .average sales price realizations also improved in 2007 .operating earnings in 2007 of $ 37 million declined from $ 41 million in 2006 and $ 39 million in 2005 .the additional contribution from higher net sales was more than offset by higher input costs for wood , energy and freight .entering 2008 , sales volumes and prices are expected to be comparable to the fourth quarter .machine performance and sales mix are expected to improve ; however , wood costs are expected to be higher , especially in russia due to strong demand ahead of tariff increases , and energy costs are anticipated to be seasonally higher. .
|
what was the percentage decline in the operating earnings in 2007 of $ 37 million declined from $ 41
|
-9.8%
|
{
"answer": "-9.8%",
"decimal": -0.098,
"type": "percentage"
}
| |
mill in the fourth quarter of 2008 .this compares with 635000 tons of total downtime in 2008 of which 305000 tons were lack-of-order downtime .printing papers in millions 2009 2008 2007 .
[['in millions', '2009', '2008', '2007'], ['sales', '$ 5680', '$ 6810', '$ 6530'], ['operating profit', '1091', '474', '839']]
north american printing papers net sales in 2009 were $ 2.8 billion compared with $ 3.4 billion in 2008 and $ 3.5 billion in 2007 .operating earnings in 2009 were $ 746 million ( $ 307 million excluding alter- native fuel mixture credits and plant closure costs ) compared with $ 405 million ( $ 435 million excluding shutdown costs for a paper machine ) in 2008 and $ 415 million in 2007 .sales volumes decreased sig- nificantly in 2009 compared with 2008 reflecting weak customer demand and reduced production capacity resulting from the shutdown of a paper machine at the franklin mill in december 2008 and the conversion of the bastrop mill to pulp production in june 2008 .average sales price realizations were lower reflecting slight declines for uncoated freesheet paper in domestic markets and significant declines in export markets .margins were also unfavorably affected by a higher proportion of shipments to lower-margin export markets .input costs , however , were favorable due to lower wood and chemical costs and sig- nificantly lower energy costs .freight costs were also lower .planned maintenance downtime costs in 2009 were comparable with 2008 .operating costs were favorable , reflecting cost control efforts and strong machine performance .lack-of-order downtime increased to 525000 tons in 2009 , including 120000 tons related to the shutdown of a paper machine at our franklin mill in the 2008 fourth quarter , from 135000 tons in 2008 .operating earnings in 2009 included $ 671 million of alternative fuel mixture cred- its , $ 223 million of costs associated with the shutdown of our franklin mill and $ 9 million of other shutdown costs , while operating earnings in 2008 included $ 30 million of costs for the shutdown of a paper machine at our franklin mill .looking ahead to 2010 , first-quarter sales volumes are expected to increase slightly from fourth-quarter 2009 levels .average sales price realizations should be higher , reflecting the full-quarter impact of sales price increases announced in the fourth quarter for converting and envelope grades of uncoated free- sheet paper and an increase in prices to export markets .however , input costs for wood , energy and chemicals are expected to continue to increase .planned maintenance downtime costs should be lower and operating costs should be favorable .brazil ian papers net sales for 2009 of $ 960 mil- lion increased from $ 950 million in 2008 and $ 850 million in 2007 .operating profits for 2009 were $ 112 million compared with $ 186 million in 2008 and $ 174 million in 2007 .sales volumes increased in 2009 compared with 2008 for both paper and pulp reflect- ing higher export shipments .average sales price realizations were lower due to strong competitive pressures in the brazilian domestic market in the second half of the year , lower export prices and unfavorable foreign exchange rates .margins were unfavorably affected by a higher proportion of lower margin export sales .input costs for wood and chem- icals were favorable , but these benefits were partially offset by higher energy costs .planned maintenance downtime costs were lower , and operating costs were also favorable .earnings in 2009 were adversely impacted by unfavorable foreign exchange effects .entering 2010 , sales volumes are expected to be seasonally lower compared with the fourth quarter of 2009 .profit margins are expected to be slightly higher reflecting a more favorable geographic sales mix and improving sales price realizations in export markets , partially offset by higher planned main- tenance outage costs .european papers net sales in 2009 were $ 1.3 bil- lion compared with $ 1.7 billion in 2008 and $ 1.5 bil- lion in 2007 .operating profits in 2009 of $ 92 million ( $ 115 million excluding expenses associated with the closure of the inverurie mill ) compared with $ 39 mil- lion ( $ 146 million excluding a charge to reduce the carrying value of the fixed assets at the inverurie , scotland mill to their estimated realizable value ) in 2008 and $ 171 million in 2007 .sales volumes in 2009 were lower than in 2008 primarily due to reduced sales of uncoated freesheet paper following the closure of the inverurie mill in 2009 .average sales price realizations decreased significantly in 2009 across most of western europe , but margins increased in poland and russia reflecting the effect of local currency devaluations .input costs were favorable as lower wood costs , particularly in russia , were only partially offset by higher energy costs in poland and higher chemical costs .planned main- tenance downtime costs were higher in 2009 than in 2008 , while manufacturing operating costs were lower .operating profits in 2009 also reflect favorable foreign exchange impacts .looking ahead to 2010 , sales volumes are expected to decline from strong 2009 fourth-quarter levels despite solid customer demand .average sales price realizations are expected to increase over the quar- ter , primarily in eastern europe , as price increases .
|
what is the average operating profit?
|
801.33
|
{
"answer": "801.33",
"decimal": 801.33,
"type": "float"
}
|
it is the sum of values divided by three to represent the average .
|
analog devices , inc .notes to consolidated financial statements 2014 ( continued ) the following is a schedule of future minimum rental payments required under long-term operating leases at october 31 , operating fiscal years leases .
[['fiscal years', 'operating leases'], ['2016', '$ 21780'], ['2017', '16305'], ['2018', '8670'], ['2019', '4172'], ['2020', '3298'], ['later years', '5263'], ['total', '$ 59488']]
12 .commitments and contingencies from time to time , in the ordinary course of the company 2019s business , various claims , charges and litigation are asserted or commenced against the company arising from , or related to , contractual matters , patents , trademarks , personal injury , environmental matters , product liability , insurance coverage and personnel and employment disputes .as to such claims and litigation , the company can give no assurance that it will prevail .the company does not believe that any current legal matters will have a material adverse effect on the company 2019s financial position , results of operations or cash flows .13 .retirement plans the company and its subsidiaries have various savings and retirement plans covering substantially all employees .the company maintains a defined contribution plan for the benefit of its eligible u.s .employees .this plan provides for company contributions of up to 5% ( 5 % ) of each participant 2019s total eligible compensation .in addition , the company contributes an amount equal to each participant 2019s pre-tax contribution , if any , up to a maximum of 3% ( 3 % ) of each participant 2019s total eligible compensation .the total expense related to the defined contribution plan for u.s .employees was $ 26.3 million in fiscal 2015 , $ 24.1 million in fiscal 2014 and $ 23.1 million in fiscal 2013 .the company also has various defined benefit pension and other retirement plans for certain non-u.s .employees that are consistent with local statutory requirements and practices .the total expense related to the various defined benefit pension and other retirement plans for certain non-u.s .employees , excluding settlement charges related to the company's irish defined benefit plan , was $ 33.3 million in fiscal 2015 , $ 29.8 million in fiscal 2014 and $ 26.5 million in fiscal 2013 .non-u.s .plan disclosures during fiscal 2015 , the company converted the benefits provided to participants in the company 2019s irish defined benefits pension plan ( the db plan ) to benefits provided under the company 2019s irish defined contribution plan .as a result , in fiscal 2015 the company recorded expenses of $ 223.7 million , including settlement charges , legal , accounting and other professional fees to settle the pension obligation .the assets related to the db plan were liquidated and used to purchase annuities for retirees and distributed to active and deferred members' accounts in the company's irish defined contribution plan in connection with the plan conversion .accordingly , plan assets for the db plan were zero as of the end of fiscal 2015 .the company 2019s funding policy for its foreign defined benefit pension plans is consistent with the local requirements of each country .the plans 2019 assets consist primarily of u.s .and non-u.s .equity securities , bonds , property and cash .the benefit obligations and related assets under these plans have been measured at october 31 , 2015 and november 1 , 2014 .components of net periodic benefit cost net annual periodic pension cost of non-u.s .plans is presented in the following table: .
|
what was the total expense for the company contribution plan from 2013 to 2015?
|
$ 163.1 million
|
{
"answer": "$ 163.1 million",
"decimal": 163100000,
"type": "money"
}
|
in order to find the total expense one must added up all the expenses for the 4 years for both the us and non-us contribution plans .
|
consolidated costs and expenses the following graph illustrates the contributions to the increases in consolidated operating costs and expenses by our cable communications and nbcuniversal segments , as well as our corporate and other activities .$ 43000 $ 44000 $ 45000 $ 46000 $ 47000 $ 48000 $ 50000 $ 49000 2013 2015cable communications segment nbcuniversal segments corporate and other 2014 cable communications segment nbcuniversal segments corporate and other $ 43223 $ 1397 $ 41 $ 49832 $ 310 $ 45852 $ 1731 $ 2208 our consolidated operating costs and expenses in 2015 included expenses associated with our broadcast of the 2015 super bowl and our larger film slate , both of which are included in our nbcuniversal segments .our consolidated operating costs and expenses in 2014 included expenses associated with our broadcast of the 2014 sochi olympics , which is reported in our nbcuniversal segments .our consolidated operating costs and expenses also included transaction-related costs associated with the time warner cable merger and the related divestiture transactions of $ 178 million and $ 237 million in 2015 and 2014 , respectively , which is included in corporate and other .on april 24 , 2015 , we and time warner cable inc .terminated our planned merger and we terminated our related agreement with charter communications , inc .to spin off , exchange and sell certain cable systems .operating costs and expenses for our segments is discussed separately below under the heading 201csegment operating results . 201d operating costs and expenses for our other businesses is discussed separately below under the heading 201ccorporate and other results of operations . 201d consolidated depreciation and amortization 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'], ['cable communications', '$ 7028', '$ 6422', '$ 6394', '9.4% ( 9.4 % )', '0.4% ( 0.4 % )'], ['nbcuniversal', '1539', '1495', '1411', '2.9', '5.9'], ['corporate and other', '113', '102', '66', '10.3', '58.1'], ['comcast consolidated', '$ 8680', '$ 8019', '$ 7871', '8.2% ( 8.2 % )', '1.9% ( 1.9 % )']]
consolidated depreciation and amortization expenses increased in 2015 primarily due to increases in capital expenditures , as well as expenditures for software , in our cable communications segment in recent years .we continue to invest in customer premise equipment , primarily for our x1 platform , wireless gateways and cloud dvr technology , and in equipment to increase our network capacity .in addition , because these assets generally have shorter estimated useful lives , our depreciation expenses have increased , which we expect will 47 comcast 2015 annual report on form 10-k .
|
what was the ratio of the operating costs and expenses for cable communications compared to nbcuniversal in 2015
|
4.6
|
{
"answer": "4.6",
"decimal": 4.6,
"type": "float"
}
| |
the agreements that govern the indebtedness incurred or assumed in connection with the acquisition contain various covenants that impose restrictions on us and certain of our subsidiaries that may affect our ability to operate our businesses .the agreements that govern the indebtedness incurred or assumed in connection with the carefusion transaction contain various affirmative and negative covenants that may , subject to certain significant exceptions , restrict our ability and the ability of certain of our subsidiaries ( including carefusion ) to , among other things , have liens on their property , transact business with affiliates and/or merge or consolidate with any other person or sell or convey certain of our assets to any one person .in addition , some of the agreements that govern our indebtedness contain financial covenants that will require us to maintain certain financial ratios .our ability and the ability of our subsidiaries to comply with these provisions may be affected by events beyond our control .failure to comply with these covenants could result in an event of default , which , if not cured or waived , could accelerate our repayment obligations .item 1b .unresolved staff comments .item 2 .properties .bd 2019s executive offices are located in franklin lakes , new jersey .as of october 31 , 2016 , bd owned or leased 255 facilities throughout the world , comprising approximately 19796011 square feet of manufacturing , warehousing , administrative and research facilities .the u.s .facilities , including those in puerto rico , comprise approximately 7459856 square feet of owned and 2923257 square feet of leased space .the international facilities comprise approximately 7189652 square feet of owned and 2223245 square feet of leased space .sales offices and distribution centers included in the total square footage are also located throughout the world .operations in each of bd 2019s business segments are conducted at both u.s .and international locations .particularly in the international marketplace , facilities often serve more than one business segment and are used for multiple purposes , such as administrative/sales , manufacturing and/or warehousing/distribution .bd generally seeks to own its manufacturing facilities , although some are leased .the following table summarizes property information by business segment. .
[['sites', 'corporate', 'bd life sciences', 'bd medical', 'mixed ( a )', 'total'], ['leased', '11', '19', '75', '92', '195'], ['owned', '3', '15', '31', '121', '60'], ['total', '14', '34', '106', '103', '255'], ['square feet', '1425720', '4337963', '9891908', '4140420', '19796011']]
( a ) facilities used by more than one business segment .bd believes that its facilities are of good construction and in good physical condition , are suitable and adequate for the operations conducted at those facilities , and are , with minor exceptions , fully utilized and operating at normal capacity .the u.s .facilities are located in alabama , arizona , california , connecticut , florida , georgia , illinois , indiana , maryland , massachusetts , michigan , nebraska , new jersey , north carolina , ohio , oklahoma , south carolina , texas , utah , virginia , washington , d.c. , washington , wisconsin and puerto rico .the international facilities are as follows : - europe , middle east , africa , which includes facilities in austria , belgium , bosnia and herzegovina , the czech republic , denmark , england , finland , france , germany , ghana , hungary , ireland , italy , kenya , luxembourg , netherlands , norway , poland , portugal , russia , saudi arabia , south africa , spain , sweden , switzerland , turkey , the united arab emirates and zambia. .
|
as of october 31 , 2016 , what was the average square footage for bd owned or leased facilities?
|
77631.42
|
{
"answer": "77631.42",
"decimal": 77631.42,
"type": "float"
}
| |
abiomed , inc .and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 15 .commitments and contingencies ( continued ) the company applies the disclosure provisions of fin no .45 , guarantor 2019s accounting and disclosure requirements for guarantees , including guarantees of indebtedness of others , and interpretation of fasb statements no .5 , 57 and 107 and rescission of fasb interpretation no .34 ( fin no .45 ) to its agreements that contain guarantee or indemnification clauses .these disclosure provisions expand those required by sfas no .5 , accounting for contingencies , by requiring that guarantors disclose certain types of guarantees , even if the likelihood of requiring the guarantor 2019s performance is remote .in addition to product warranties , the following is a description of arrangements in which the company is a guarantor .indemnifications 2014in many sales transactions , the company indemnifies customers against possible claims of patent infringement caused by the company 2019s products .the indemnifications contained within sales contracts usually do not include limits on the claims .the company has never incurred any material costs to defend lawsuits or settle patent infringement claims related to sales transactions .under the provisions of fin no .45 , intellectual property indemnifications require disclosure only .the company enters into agreements with other companies in the ordinary course of business , typically with underwriters , contractors , clinical sites and customers that include indemnification provisions .under these provisions the company generally indemnifies and holds harmless the indemnified party for losses suffered or incurred by the indemnified party as a result of its activities .these indemnification provisions generally survive termination of the underlying agreement .the maximum potential amount of future payments the company could be required to make under these indemnification provisions is unlimited .abiomed has never incurred any material costs to defend lawsuits or settle claims related to these indemnification agreements .as a result , the estimated fair value of these agreements is minimal .accordingly , the company has no liabilities recorded for these agreements as of march 31 , 2008 .clinical study agreements 2014in the company 2019s clinical study agreements , abiomed has agreed to indemnify the participating institutions against losses incurred by them for claims related to any personal injury of subjects taking part in the study to the extent they relate to uses of the company 2019s devices in accordance with the clinical study agreement , the protocol for the device and abiomed 2019s instructions .the indemnification provisions contained within the company 2019s clinical study agreements do not generally include limits on the claims .the company has never incurred any material costs related to the indemnification provisions contained in its clinical study agreements .facilities leases 2014as of march 31 , 2008 , the company had entered into leases for its facilities , including its primary operating facility in danvers , massachusetts with terms through fiscal 2010 .the danvers lease may be extended , at the company 2019s option , for two successive additional periods of five years each with monthly rent charges to be determined based on then current fair rental values .the company 2019s lease for its aachen location expires in december 2012 .total rent expense under these leases , included in the accompanying consolidated statements of operations approximated $ 2.2 million , $ 1.6 million , and $ 1.3 million for the fiscal years ended march 31 , 2008 , 2007 and 2006 , respectively .future minimum lease payments under all significant non-cancelable operating leases as of march 31 , 2008 are approximately as follows : fiscal year ending march 31 , operating leases ( in $ 000 2019s ) .
[['fiscal year ending march 31,', 'operating leases ( in $ 000 2019s )'], ['2009', '2544'], ['2010', '2220'], ['2011', '1287'], ['2012', '973'], ['2013', '730'], ['thereafter', '2014'], ['total future minimum lease payments', '$ 7754']]
litigation 2014from time-to-time , the company is involved in legal and administrative proceedings and claims of various types .while any litigation contains an element of uncertainty , management presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened , or all of them combined , is not expected to have a material adverse effect on the company 2019s financial position , cash flow and results. .
|
what is the expected growth rate in operating leases in 2010 compare to 2009?
|
-12.7%
|
{
"answer": "-12.7%",
"decimal": -0.127,
"type": "percentage"
}
| |
the following is a schedule of future minimum rental payments required under long-term operating leases at october 29 , 2011 : fiscal years operating leases .
[['fiscal years', 'operating leases'], ['2012', '$ 17590'], ['2013', '12724'], ['2014', '6951'], ['2015', '5649'], ['2016', '3669'], ['later years', '19472'], ['total', '$ 66055']]
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 $ 21.9 million in fiscal 2011 , $ 20.5 million in fiscal 2010 and $ 21.5 million in fiscal 2009 .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 $ 21.4 million in fiscal 2011 , $ 11.7 million in fiscal 2010 and $ 10.9 million in fiscal 2009 .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 29 , 2011 and october 30 , 2010 .analog devices , inc .notes to consolidated financial statements 2014 ( continued ) .
|
what was the difference in percentage that total expenses changed between the us and non-us employees from 2009 to 2011?
|
the non-us employees had a change of 94.4% greater than the us employees
|
{
"answer": "the non-us employees had a change of 94.4% greater than the us employees",
"decimal": 0.9440000000000001,
"type": "percentage"
}
|
to find the answer one must find the percentage increase for each the us and non-us . then compare these two numbers to find the difference in changes for the years .
|
comcast corporation 2015 debt redemptions and repayments year ended december 31 , 2015 ( in millions ) .
[['nbcuniversal 3.65% ( 3.65 % ) senior notes due 2015', '$ 1000'], ['comcast 5.90% ( 5.90 % ) senior notes due 2016 ( a )', '1000'], ['comcast 6.50% ( 6.50 % ) senior notes due 2015', '900'], ['comcast 5.85% ( 5.85 % ) senior notes due 2015 ( a )', '750'], ['comcast 8.75% ( 8.75 % ) senior notes due 2015', '673'], ['other', '55'], ['total', '$ 4378']]
( a ) the early redemption of these senior notes resulted in $ 47 million of additional interest expense in 2015 .debt instruments revolving credit facilities as of december 31 , 2015 , comcast and comcast cable communications , llc had a $ 6.25 billion revolving credit facility due june 2017 with a syndicate of banks ( 201ccomcast revolving credit facility 201d ) .the interest rate on this facility consists of a base rate plus a borrowing margin that is determined based on our credit rating .as of december 31 , 2015 , the borrowing margin for london interbank offered rate ( 201clibor 201d ) based borrow- ings was 1.00% ( 1.00 % ) .this revolving credit facility requires that we maintain certain financial ratios based on our debt and our operating income before depreciation and amortization , as defined in the credit facility .we were in compliance with all financial covenants for all periods presented .as of december 31 , 2015 , nbcuniversal enterprise had a $ 1.35 billion revolving credit facility due march 2018 with a syndicate of banks ( 201cnbcuniversal enterprise revolving credit facility 201d ) .the interest rate on this facility consists of a base rate plus a borrowing margin that is determined based on our credit rating .as of december 31 , 2015 , the borrowing margin for libor-based borrowings was 1.00% ( 1.00 % ) .as of december 31 , 2015 , amounts available under our consolidated credit facilities , net of amounts out- standing under our commercial paper programs and outstanding letters of credit , totaled $ 6.4 billion , which included $ 775 million available under the nbcuniversal enterprise revolving credit facility .term loans as a result of the universal studios japan transaction , we consolidated a5400 billion of term loans having a final maturity of november 2020 .in accordance with acquisition accounting , these debt securities were recorded at fair value as of the acquisition date .these term loans contain financial and operating covenants and are secured by the assets of universal studios japan and the equity interests of the investors .we do not guarantee these term loans and they are otherwise nonrecourse to us .commercial paper programs our commercial paper programs provide a lower-cost source of borrowing to fund our short-term working capital requirements .the maximum borrowing capacity under the comcast commercial paper program is $ 6.25 billion and it is supported by the comcast revolving credit facility .the maximum borrowing capacity under the nbcuniversal enterprise commercial paper program is $ 1.35 billion and it is supported by the nbcuniversal enterprise revolving credit facility .letters of credit as of december 31 , 2015 , we and certain of our subsidiaries had unused irrevocable standby letters of credit totaling $ 464 million to cover potential fundings under various agreements .99 comcast 2015 annual report on form 10-k .
|
what was the percent of the net of amounts out- standing under our commercial paper programs and outstanding letters of credit associated with the nbcuniversal enterprise revolving credit facility
|
12.1%
|
{
"answer": "12.1%",
"decimal": 0.121,
"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 2016 to 2017?
|
-2
|
{
"answer": "-2",
"decimal": -2,
"type": "float"
}
| |
the analysis of our depreciation studies .changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively .under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized .the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies .the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes .because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate .in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies .any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets .for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies .a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations .when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .however , many of our assets are self-constructed .a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects .costs that are directly attributable to capital projects ( including overhead costs ) are capitalized .direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment .indirect costs are capitalized if they clearly relate to the construction of the asset .general and administrative expenditures are expensed as incurred .normal repairs and maintenance , including rail grinding , are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .these costs are allocated using appropriate statistical bases .total expense for repairs and maintenance incurred was $ 2.1 billion for 2012 , $ 2.2 billion for 2011 , and $ 2.0 billion for 2010 .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 2012 2011 .
[['millions', 'dec . 31 2012', 'dec . 312011'], ['accounts payable', '$ 825', '$ 819'], ['accrued wages and vacation', '376', '363'], ['income and other taxes', '368', '482'], ['dividends payable', '318', '284'], ['accrued casualty costs', '213', '249'], ['interest payable', '172', '197'], ['equipment rents payable', '95', '90'], ['other', '556', '624'], ['total accounts payable and othercurrent liabilities', '$ 2923', '$ 3108']]
.
|
what was the percentage change in equipment rents payable from 2011 to 2012?
|
6%
|
{
"answer": "6%",
"decimal": 0.06,
"type": "percentage"
}
| |
average revenue per car 2010 2009 2008 % ( % ) change 2010 v 2009 % ( % ) change 2009 v 2008 .
[['average revenue per car', '2010', '2009', '2008', '% ( % ) change 2010 v 2009', '% ( % ) change 2009 v 2008'], ['agricultural', '$ 3286', '$ 3080', '$ 3352', '7% ( 7 % )', '( 8 ) % ( % )'], ['automotive', '2082', '1838', '2017', '13', '-9 ( 9 )'], ['chemicals', '2874', '2761', '2818', '4', '-2 ( 2 )'], ['energy', '1697', '1543', '1622', '10', '-5 ( 5 )'], ['industrial products', '2461', '2388', '2620', '3', '-9 ( 9 )'], ['intermodal', '974', '896', '955', '9', '-6 ( 6 )'], ['average', '$ 1823', '$ 1718', '$ 1848', '6% ( 6 % )', '( 7 ) % ( % )']]
agricultural products 2013 higher volume , fuel surcharges , and price improvements increased agricultural freight revenue in 2010 versus 2009 .increased shipments from the midwest to export ports in the pacific northwest combined with heightened demand in mexico drove higher corn and feed grain shipments in 2010 .increased corn and feed grain shipments into ethanol plants in california and idaho and continued growth in ethanol shipments also contributed to this increase .in 2009 , some ethanol plants temporarily ceased operations due to lower ethanol margins , which contributed to the favorable year-over-year comparison .in addition , strong export demand for u.s .wheat via the gulf ports increased shipments of wheat and food grains compared to 2009 .declines in domestic wheat and food shipments partially offset the growth in export shipments .new business in feed and animal protein shipments also increased agricultural shipments in 2010 compared to 2009 .lower volume and fuel surcharges decreased agricultural freight revenue in 2009 versus 2008 .price improvements partially offset these declines .lower demand in both export and domestic markets led to fewer shipments of corn and feed grains , down 11% ( 11 % ) in 2009 compared to 2008 .weaker worldwide demand also reduced export shipments of wheat and food grains in 2009 versus 2008 .automotive 2013 37% ( 37 % ) and 24% ( 24 % ) increases in shipments of finished vehicles and automotive parts in 2010 , respectively , combined with core pricing gains and fuel surcharges , improved automotive freight revenue from relatively weak 2009 levels .economic conditions in 2009 led to poor auto sales and reduced vehicle production , which in turn reduced shipments of finished vehicles and parts during the declines in shipments of finished vehicles and auto parts and lower fuel surcharges reduced freight revenue in 2009 compared to 2008 .vehicle shipments were down 35% ( 35 % ) and parts were down 24% ( 24 % ) .core pricing gains partially offset these declines .these volume declines resulted from economic conditions that reduced sales and vehicle production .in addition , two major domestic automotive manufacturers declared bankruptcy in the second quarter of 2009 , affecting production levels .although the federal car allowance rebate system ( the 201ccash for clunkers 201d program ) helped stimulate vehicle sales and shipments in the third quarter of 2009 , production cuts and soft demand throughout the year more than offset the program 2019s benefits .2010 agricultural revenue 2010 automotive revenue .
|
what was the average revenue in agriculture , in millions , from 2008-2010?
|
3239.33
|
{
"answer": "3239.33",
"decimal": 3239.33,
"type": "float"
}
| |
bhge 2018 form 10-k | 31 business environment the following discussion and analysis summarizes the significant factors affecting our results of operations , financial condition and liquidity position as of and for the year ended december 31 , 2018 , 2017 and 2016 , and should be read in conjunction with the consolidated and combined financial statements and related notes of the company .we operate in more than 120 countries helping customers find , evaluate , drill , produce , transport and process hydrocarbon resources .our revenue is predominately generated from the sale of products and services to major , national , and independent oil and natural gas companies worldwide , and is dependent on spending by our customers for oil and natural gas exploration , field development and production .this spending is driven by a number of factors , including our customers' forecasts of future energy demand and supply , their access to resources to develop and produce oil and natural gas , their ability to fund their capital programs , the impact of new government regulations and most importantly , their expectations for oil and natural gas prices as a key driver of their cash flows .oil and natural gas prices oil and natural gas prices are summarized in the table below as averages of the daily closing prices during each of the periods indicated. .
[['', '2018', '2017', '2016'], ['brent oil prices ( $ /bbl ) ( 1 )', '$ 71.34', '$ 54.12', '$ 43.64'], ['wti oil prices ( $ /bbl ) ( 2 )', '65.23', '50.80', '43.29'], ['natural gas prices ( $ /mmbtu ) ( 3 )', '3.15', '2.99', '2.52']]
brent oil prices ( $ /bbl ) ( 1 ) $ 71.34 $ 54.12 $ 43.64 wti oil prices ( $ /bbl ) ( 2 ) 65.23 50.80 43.29 natural gas prices ( $ /mmbtu ) ( 3 ) 3.15 2.99 2.52 ( 1 ) energy information administration ( eia ) europe brent spot price per barrel ( 2 ) eia cushing , ok wti ( west texas intermediate ) spot price ( 3 ) eia henry hub natural gas spot price per million british thermal unit 2018 demonstrated the volatility of the oil and gas market .through the first three quarters of 2018 , we experienced stability in the north american and international markets .however , in the fourth quarter of 2018 commodity prices dropped nearly 40% ( 40 % ) resulting in increased customer uncertainty .from an offshore standpoint , through most of 2018 , we saw multiple large offshore projects reach positive final investment decisions , and the lng market and outlook improved throughout 2018 , driven by increased demand globally .in 2018 , the first large north american lng positive final investment decision was reached .outside of north america , customer spending is highly driven by brent oil prices , which increased on average throughout the year .average brent oil prices increased to $ 71.34/bbl in 2018 from $ 54.12/bbl in 2017 , and ranged from a low of $ 50.57/bbl in december 2018 , to a high of $ 86.07/bbl in october 2018 .for the first three quarters of 2018 , brent oil prices increased sequentially .however , in the fourth quarter , brent oil prices declined 39% ( 39 % ) versus the end of the third quarter , as a result of increased supply from the u.s. , worries of a global economic slowdown , and lower than expected production cuts .in north america , customer spending is highly driven by wti oil prices , which similar to brent oil prices , on average increased throughout the year .average wti oil prices increased to $ 65.23/bbl in 2018 from $ 50.80/bbl in 2017 , and ranged from a low of $ 44.48/bbl in december 2018 , to a high of $ 77.41/bbl in june 2018 .in north america , natural gas prices , as measured by the henry hub natural gas spot price , averaged $ 3.15/ mmbtu in 2018 , representing a 6% ( 6 % ) increase over the prior year .throughout the year , henry hub natural gas spot prices ranged from a high of $ 6.24/mmbtu in january 2018 to a low of $ 2.49/mmbtu in february 2018 .according to the u.s .department of energy ( doe ) , working natural gas in storage at the end of 2018 was 2705 billion cubic feet ( bcf ) , which was 15.6% ( 15.6 % ) , or 421 bcf , below the corresponding week in 2017. .
|
what is the growth rate in brent oil prices from 2016 to 2017?
|
24.0%
|
{
"answer": "24.0%",
"decimal": 0.24,
"type": "percentage"
}
| |
comcast corporation finite-lived intangible assets estimated amortization expense of finite-lived intangible assets ( in millions ) .
[['2016', '$ 1785'], ['2017', '$ 1612'], ['2018', '$ 1365'], ['2019', '$ 1039'], ['2020', '$ 902']]
finite-lived intangible assets are subject to amortization and consist primarily of customer relationships acquired in business combinations , software , cable franchise renewal costs , contractual operating rights and intellectual property rights .our finite-lived intangible assets are amortized primarily on a straight-line basis over their estimated useful life or the term of the associated agreement .we capitalize direct development costs associated with internal-use software , including external direct costs of material and services and payroll costs for employees devoting time to these software projects .we also capitalize costs associated with the purchase of software licenses .we include these costs in other intangible assets and generally amortize them on a straight-line basis over a period not to exceed five years .we expense maintenance and training costs , as well as costs incurred during the preliminary stage of a project , as they are incurred .we capitalize initial operating system software costs and amortize them over the life of the associated hardware .we evaluate the recoverability of our finite-lived intangible assets whenever events or substantive changes in circumstances indicate that the carrying amount may not be recoverable .the evaluation is based on the cash flows generated by the underlying asset groups , including estimated future operating results , trends or other determinants of fair value .if the total of the expected future undiscounted cash flows were less than the carry- ing amount of the asset group , we would recognize an impairment charge to the extent the carrying amount of the asset group exceeded its estimated fair value .unless presented separately , the impairment charge is included as a component of amortization expense .97 comcast 2015 annual report on form 10-k .
|
what was the ratio of the comcast corporation finite-lived intangible assets in 2016 to 2017
|
1.1
|
{
"answer": "1.1",
"decimal": 1.1,
"type": "float"
}
| |
52 2013 ppg annual report and form 10-k repatriation of undistributed earnings of non-u.s .subsidiaries as of december 31 , 2013 and december 31 , 2012 would have resulted in a u.s .tax cost of approximately $ 250 million and $ 110 million , respectively .the company files federal , state and local income tax returns in numerous domestic and foreign jurisdictions .in most tax jurisdictions , returns are subject to examination by the relevant tax authorities for a number of years after the returns have been filed .the company is no longer subject to examinations by tax authorities in any major tax jurisdiction for years before 2006 .additionally , the internal revenue service has completed its examination of the company 2019s u.s .federal income tax returns filed for years through 2010 .the examination of the company 2019s u.s .federal income tax return for 2011 is currently underway and is expected to be finalized during 2014 .a reconciliation of the total amounts of unrecognized tax benefits ( excluding interest and penalties ) as of december 31 follows: .
[['( millions )', '2013', '2012', '2011'], ['balance at january 1', '$ 82', '$ 107', '$ 111'], ['additions based on tax positions related to the current year', '12', '12', '15'], ['additions for tax positions of prior years', '9', '2', '17'], ['reductions for tax positions of prior years', '-10 ( 10 )', '-12 ( 12 )', '-19 ( 19 )'], ['pre-acquisition unrecognized tax benefits', '2014', '2', '2014'], ['reductions for expiration of the applicable statute of limitations', '-10 ( 10 )', '-6 ( 6 )', '-7 ( 7 )'], ['settlements', '2014', '-23 ( 23 )', '-8 ( 8 )'], ['foreign currency translation', '2', '2014', '-2 ( 2 )'], ['balance at december 31', '$ 85', '$ 82', '$ 107']]
the company expects that any reasonably possible change in the amount of unrecognized tax benefits in the next 12 months would not be significant .the total amount of unrecognized tax benefits that , if recognized , would affect the effective tax rate was $ 81 million as of december 31 , 2013 .the company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense .as of december 31 , 2013 , 2012 and 2011 , the company had liabilities for estimated interest and penalties on unrecognized tax benefits of $ 9 million , $ 10 million and $ 15 million , respectively .the company recognized $ 2 million and $ 5 million of income in 2013 and 2012 , respectively , related to the reduction of estimated interest and penalties .the company recognized no income or expense for estimated interest and penalties during the year ended december 31 , 2011 .13 .pensions and other postretirement benefits defined benefit plans ppg has defined benefit pension plans that cover certain employees worldwide .the principal defined benefit pension plans are those in the u.s. , canada , the netherlands and the u.k .which , in the aggregate represent approximately 91% ( 91 % ) of the projected benefit obligation at december 31 , 2013 , of which the u.s .defined benefit pension plans represent the majority .ppg also sponsors welfare benefit plans that provide postretirement medical and life insurance benefits for certain u.s .and canadian employees and their dependents .these programs require retiree contributions based on retiree-selected coverage levels for certain retirees and their dependents and provide for sharing of future benefit cost increases between ppg and participants based on management discretion .the company has the right to modify or terminate certain of these benefit plans in the future .salaried and certain hourly employees in the u.s .hired on or after october 1 , 2004 , or rehired on or after october 1 , 2012 are not eligible for postretirement medical benefits .salaried employees in the u.s .hired , rehired or transferred to salaried status on or after january 1 , 2006 , and certain u.s .hourly employees hired in 2006 or thereafter are eligible to participate in a defined contribution retirement plan .these employees are not eligible for defined benefit pension plan benefits .plan design changes in january 2011 , the company approved an amendment to one of its u.s .defined benefit pension plans that represented about 77% ( 77 % ) of the total u.s .projected benefit obligation at december 31 , 2011 .depending upon the affected employee's combined age and years of service to ppg , this change resulted in certain employees no longer accruing benefits under this plan as of december 31 , 2011 , while the remaining employees will no longer accrue benefits under this plan as of december 31 , 2020 .the affected employees will participate in the company 2019s defined contribution retirement plan from the date their benefit under the defined benefit plan is frozen .the company remeasured the projected benefit obligation of this amended plan , which lowered 2011 pension expense by approximately $ 12 million .the company made similar changes to certain other u.s .defined benefit pension plans in 2011 .the company recognized a curtailment loss and special termination benefits associated with these plan amendments of $ 5 million in 2011 .the company plans to continue reviewing and potentially changing other ppg defined benefit plans in the future .separation and merger of commodity chemicals business on january 28 , 2013 , ppg completed the separation of its commodity chemicals business and the merger of the subsidiary holding the ppg commodity chemicals business with a subsidiary of georgia gulf , as discussed in note 22 , 201cseparation and merger transaction . 201d ppg transferred the defined benefit pension plan and other postretirement benefit liabilities for the affected employees in the u.s. , canada , and taiwan in the separation resulting in a net partial settlement loss of $ 33 million notes to the consolidated financial statements .
|
what was the percentage change in the unrecognized tax benefits from 2012 to 2013?
|
4%
|
{
"answer": "4%",
"decimal": 0.04,
"type": "percentage"
}
| |
synopsys , inc .notes to consolidated financial statements 2014continued acquired identifiable intangible assets of $ 107.3 million , resulting in total goodwill of $ 257.6 million .identifiable intangible assets are being amortized over three to eight years .acquisition-related costs directly attributable to the business combination were $ 6.6 million for fiscal 2012 and were expensed as incurred in the consolidated statements of operations .these costs consisted primarily of employee separation costs and professional services .acquisition of magma design automation , inc .( magma ) on february 22 , 2012 , the company acquired magma , a chip design software provider , at a per- share price of $ 7.35 .additionally , the company assumed unvested restricted stock units ( rsus ) and stock options , collectively called 201cequity awards . 201d the aggregate purchase price was approximately $ 550.2 million .this acquisition enables the company to more rapidly meet the needs of leading-edge semiconductor designers for more sophisticated design tools .the company allocated the total purchase consideration of $ 550.2 million ( including $ 6.8 million related to equity awards assumed ) to the assets acquired and liabilities assumed based on their respective fair values at the acquisition date , including acquired identifiable intangible assets of $ 184.3 million , resulting in total goodwill of $ 316.3 million .identifiable intangible assets are being amortized over three to ten years .acquisition-related costs directly attributable to the business combination totaling $ 33.5 million for fiscal 2012 were expensed as incurred in the consolidated statements of operations and consist primarily of employee separation costs , contract terminations , professional services , and facilities closure costs .other fiscal 2012 acquisitions during fiscal 2012 , the company acquired five other companies , including emulation & verification engineering , s.a .( eve ) , for cash and allocated the total purchase consideration of $ 213.2 million to the assets acquired and liabilities assumed based on their respective fair values , resulting in total goodwill of $ 118.1 million .acquired identifiable intangible assets totaling $ 73.3 million were valued using appropriate valuation methods such as income or cost methods and are being amortized over their respective useful lives ranging from one to eight years .during fiscal 2012 , acquisition-related costs totaling $ 6.8 million were expensed as incurred in the consolidated statements of operations .fiscal 2011 acquisitions during fiscal 2011 , the company completed two acquisitions for cash and allocated the total purchase consideration of $ 37.4 million to the assets and liabilities acquired based on their respective fair values at the acquisition date resulting in goodwill of $ 30.6 million .acquired identifiable intangible assets of $ 9.3 million are being amortized over two to ten years .note 4 .goodwill and intangible assets goodwill: .
[['', '( in thousands )'], ['balance at october 31 2011', '$ 1289286'], ['additions', '687195'], ['other adjustments ( 1 )', '506'], ['balance at october 31 2012', '$ 1976987'], ['additions', '2014'], ['other adjustments ( 1 )', '-1016 ( 1016 )'], ['balance at october 31 2013', '$ 1975971']]
.
|
what is the identifiable intangible assets as a percent of total goodwill?
|
41.65%
|
{
"answer": "41.65%",
"decimal": 0.4165,
"type": "percentage"
}
|
it is the value of intangible assets divided by the total goodwill .
|
also during 2006 , the entities acquired approximately $ 4.8 billion of international paper debt obligations for cash , resulting in a total of approximately $ 5.2 billion of international paper debt obligations held by the entities at december 31 , 2006 .the various agreements entered into in connection with these transactions provide that international paper has , and intends to effect , a legal right to offset its obligation under these debt instruments with its investments in the entities .accordingly , for financial reporting purposes , international paper has offset approximately $ 5.2 billion of class b interests in the entities against $ 5.3 billion of international paper debt obligations held by these entities at december 31 , 2014 and 2013 .despite the offset treatment , these remain debt obligations of international paper .remaining borrowings of $ 50 million and $ 67 million at december 31 , 2014 and 2013 , respectively , are included in floating rate notes due 2014 2013 2019 in the summary of long-term debt in note 13 .additional debt related to the above transaction of $ 107 million and $ 79 million is included in short-term notes in the summary of long-term debt in note 13 at december 31 , 2014 and 2013 .the use of the above entities facilitated the monetization of the credit enhanced timber notes in a cost effective manner by increasing the borrowing capacity and lowering the interest rate , while providing for the offset accounting treatment described above .additionally , the monetization structure preserved the tax deferral that resulted from the 2006 forestlands sales .the company recognized a $ 1.4 billion deferred tax liability in connection with the 2006 forestlands sale , which will be settled with the maturity of the timber notes in the third quarter of 2016 ( unless extended ) .during 2011 and 2012 , the credit ratings for two letter of credit banks that support $ 1.5 billion of timber notes were downgraded below the specified threshold .these letters of credit were successfully replaced by other qualifying institutions .fees of $ 10 million were incurred during 2012 in connection with these replacements .during 2012 , an additional letter of credit bank that supports $ 707 million of timber notes was downgraded below the specified threshold .in december 2012 , the company and the third-party managing member agreed to a continuing replacement waiver for these letters of credit , terminable upon 30 days notice .activity between the company and the entities was as follows: .
[['in millions', '2014', '2013', '2012'], ['revenue ( loss ) ( a )', '$ 38', '$ 45', '$ 49'], ['expense ( a )', '72', '79', '90'], ['cash receipts ( b )', '22', '33', '36'], ['cash payments ( c )', '73', '84', '87']]
( a ) the net expense related to the company 2019s interest in the entities is included in interest expense , net in the accompanying consolidated statement of operations , as international paper has and intends to effect its legal right to offset as discussed above .( b ) the cash receipts are equity distributions from the entities to international paper .( c ) the semi-annual payments are related to interest on the associated debt obligations discussed above .based on an analysis of the entities discussed above under guidance that considers the potential magnitude of the variability in the structures and which party has a controlling financial interest , international paper determined that it is not the primary beneficiary of the entities , and therefore , should not consolidate its investments in these entities .it was also determined that the source of variability in the structure is the value of the timber notes , the assets most significantly impacting the structure 2019s economic performance .the credit quality of the timber notes is supported by irrevocable letters of credit obtained by third-party buyers which are 100% ( 100 % ) cash collateralized .international paper analyzed which party has control over the economic performance of each entity , and concluded international paper does not have control over significant decisions surrounding the timber notes and letters of credit and therefore is not the primary beneficiary .the company 2019s maximum exposure to loss equals the value of the timber notes ; however , an analysis performed by the company concluded the likelihood of this exposure is remote .international paper also held variable interests in financing entities that were used to monetize long-term notes received from the sale of forestlands in 2002 .international paper transferred notes ( the monetized notes , with an original maturity of 10 years from inception ) and cash of approximately $ 500 million to these entities in exchange for preferred interests , and accounted for the transfers as a sale of the notes with no associated gain or loss .in the same period , the entities acquired approximately $ 500 million of international paper debt obligations for cash .international paper has no obligation to make any further capital contributions to these entities and did not provide any financial support that was not previously contractually required during the years ended december 31 , 2014 , 2013 or 2012 .during 2012 , $ 252 million of the 2002 monetized notes matured .cash receipts upon maturity were used to pay the associated debt obligations .effective june 1 , 2012 , international paper liquidated its interest in the 2002 financing entities .in connection with the acquisition of temple-inland in february 2012 , two special purpose entities became wholly-owned subsidiaries of international paper. .
|
what was the initial debt obligations balance in 2006 prior to the additional sales of international paper debt obligations for cash in billions
|
0.4
|
{
"answer": "0.4",
"decimal": 0.4,
"type": "float"
}
| |
17 .leases we lease certain locomotives , freight cars , and other property .the consolidated statements of financial position as of december 31 , 2017 , and 2016 included $ 1635 million , net of $ 953 million of accumulated depreciation , and $ 1997 million , net of $ 1121 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 , 2017 , were as follows : millions operating leases capital leases .
[['millions', 'operatingleases', 'capitalleases'], ['2018', '$ 398', '$ 173'], ['2019', '359', '156'], ['2020', '297', '164'], ['2021', '259', '168'], ['2022', '221', '147'], ['later years', '1115', '271'], ['total minimum lease payments', '$ 2649', '$ 1079'], ['amount representing interest', 'n/a', '-187 ( 187 )'], ['present value of minimum lease payments', 'n/a', '$ 892']]
approximately 97% ( 97 % ) of capital lease payments relate to locomotives .rent expense for operating leases with terms exceeding one month was $ 480 million in 2017 , $ 535 million in 2016 , and $ 590 million in 2015 .when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term .contingent rentals and sub-rentals are not significant .18 .commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries .we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity .to the extent possible , we have recorded a liability where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated .we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters .personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year .we use an actuarial analysis to measure the expense and liability , including unasserted claims .the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents .under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements .we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work .our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments .approximately 95% ( 95 % ) of the recorded liability is related to asserted claims and approximately 5% ( 5 % ) is related to unasserted claims at december 31 , 2017 .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 approximately $ 285 million to $ 310 million .we record an accrual at the low end of the range as no amount of loss within the range is more probable than any other .estimates can vary over time due to evolving trends in litigation. .
|
what percentage of total minimum lease payments are capital leases?
|
29%
|
{
"answer": "29%",
"decimal": 0.29,
"type": "percentage"
}
| |
liquidity and capital resources during the past three years , we had sufficient financial resources to meet our operating requirements , to fund our capital spending , share repurchases and pension plans and to pay increasing dividends to our shareholders .cash from operating activities was $ 1436 million , $ 1310 million , and $ 1345 million in 2011 , 2010 , and 2009 , respectively .higher earnings increased cash from operations in 2011 compared to 2010 , but the increase was reduced by cash used to fund an increase in working capital of $ 212 million driven by our sales growth in 2011 .cash provided by working capital was greater in 2009 than 2010 and that decline was more than offset by the cash from higher 2010 earnings .operating working capital is a subset of total working capital and represents ( 1 ) trade receivables-net of the allowance for doubtful accounts , plus ( 2 ) inventories on a first-in , first-out ( 201cfifo 201d ) basis , less ( 3 ) trade creditors 2019 liabilities .see note 3 , 201cworking capital detail 201d under item 8 of this form 10-k for further information related to the components of the company 2019s operating working capital .we believe operating working capital represents the key components of working capital under the operating control of our businesses .operating working capital at december 31 , 2011 and 2010 was $ 2.7 billion and $ 2.6 billion , respectively .a key metric we use to measure our working capital management is operating working capital as a percentage of sales ( fourth quarter sales annualized ) .( millions ) 2011 2010 operating working capital $ 2739 $ 2595 operating working capital as % ( % ) of sales 19.5% ( 19.5 % ) 19.2% ( 19.2 % ) the change in operating working capital elements , excluding the impact of currency and acquisitions , was an increase of $ 195 million during the year ended december 31 , 2011 .this increase was the net result of an increase in receivables from customers associated with the 2011 increase in sales and an increase in fifo inventory slightly offset by an increase in trade creditors 2019 liabilities .trade receivables from customers , net , as a percentage of fourth quarter sales , annualized , for 2011 was 17.9 percent , down slightly from 18.1 percent for 2010 .days sales outstanding was 66 days in 2011 , level with 2010 .inventories on a fifo basis as a percentage of fourth quarter sales , annualized , for 2011 was 13.1 percent level with 2010 .inventory turnover was 5.0 times in 2011 and 4.6 times in 2010 .total capital spending , including acquisitions , was $ 446 million , $ 341 million and $ 265 million in 2011 , 2010 , and 2009 , respectively .spending related to modernization and productivity improvements , expansion of existing businesses and environmental control projects was $ 390 million , $ 307 million and $ 239 million in 2011 , 2010 , and 2009 , respectively , and is expected to be in the range of $ 450-$ 550 million during 2012 .capital spending , excluding acquisitions , as a percentage of sales was 2.6% ( 2.6 % ) , 2.3% ( 2.3 % ) and 2.0% ( 2.0 % ) in 2011 , 2010 and 2009 , respectively .capital spending related to business acquisitions amounted to $ 56 million , $ 34 million , and $ 26 million in 2011 , 2010 and 2009 , respectively .we continue to evaluate acquisition opportunities and expect to use cash in 2012 to fund small to mid-sized acquisitions , as part of a balanced deployment of our cash to support growth in earnings .in january 2012 , the company closed the previously announced acquisitions of colpisa , a colombian producer of automotive oem and refinish coatings , and dyrup , a european architectural coatings company .the cost of these acquisitions , including assumed debt , was $ 193 million .dividends paid to shareholders totaled $ 355 million , $ 360 million and $ 353 million in 2011 , 2010 and 2009 , respectively .ppg has paid uninterrupted annual dividends since 1899 , and 2011 marked the 40th consecutive year of increased annual dividend payments to shareholders .we did not have a mandatory contribution to our u.s .defined benefit pension plans in 2011 ; however , we made voluntary contributions to these plans in 2011 totaling $ 50 million .in 2010 and 2009 , we made voluntary contributions to our u.s .defined benefit pension plans of $ 250 and $ 360 million ( of which $ 100 million was made in ppg stock ) , respectively .we expect to make voluntary contributions to our u.s .defined benefit pension plans in 2012 of up to $ 60 million .contributions were made to our non-u.s .defined benefit pension plans of $ 71 million , $ 87 million and $ 90 million ( of which approximately $ 20 million was made in ppg stock ) for 2011 , 2010 and 2009 , respectively , some of which were required by local funding requirements .we expect to make mandatory contributions to our non-u.s .plans in 2012 of approximately $ 90 million .the company 2019s share repurchase activity in 2011 , 2010 and 2009 was 10.2 million shares at a cost of $ 858 million , 8.1 million shares at a cost of $ 586 million and 1.5 million shares at a cost of $ 59 million , respectively .we expect to make share repurchases in 2012 as part of our cash deployment focused on earnings growth .the amount of spending will depend on the level of acquisition spending and other uses of cash , but we currently expect to spend in the range of $ 250 million to $ 500 million on share repurchases in 2012 .we can repurchase about 9 million shares under the current authorization from the board of directors .26 2011 ppg annual report and form 10-k .
[['( millions )', '2011', '2010', ''], ['operating working capital', '$ 2739', '$ 2595', ''], ['operating working capital as % ( % ) of sales', '19.5% ( 19.5 % )', '19.2', '% ( % )']]
liquidity and capital resources during the past three years , we had sufficient financial resources to meet our operating requirements , to fund our capital spending , share repurchases and pension plans and to pay increasing dividends to our shareholders .cash from operating activities was $ 1436 million , $ 1310 million , and $ 1345 million in 2011 , 2010 , and 2009 , respectively .higher earnings increased cash from operations in 2011 compared to 2010 , but the increase was reduced by cash used to fund an increase in working capital of $ 212 million driven by our sales growth in 2011 .cash provided by working capital was greater in 2009 than 2010 and that decline was more than offset by the cash from higher 2010 earnings .operating working capital is a subset of total working capital and represents ( 1 ) trade receivables-net of the allowance for doubtful accounts , plus ( 2 ) inventories on a first-in , first-out ( 201cfifo 201d ) basis , less ( 3 ) trade creditors 2019 liabilities .see note 3 , 201cworking capital detail 201d under item 8 of this form 10-k for further information related to the components of the company 2019s operating working capital .we believe operating working capital represents the key components of working capital under the operating control of our businesses .operating working capital at december 31 , 2011 and 2010 was $ 2.7 billion and $ 2.6 billion , respectively .a key metric we use to measure our working capital management is operating working capital as a percentage of sales ( fourth quarter sales annualized ) .( millions ) 2011 2010 operating working capital $ 2739 $ 2595 operating working capital as % ( % ) of sales 19.5% ( 19.5 % ) 19.2% ( 19.2 % ) the change in operating working capital elements , excluding the impact of currency and acquisitions , was an increase of $ 195 million during the year ended december 31 , 2011 .this increase was the net result of an increase in receivables from customers associated with the 2011 increase in sales and an increase in fifo inventory slightly offset by an increase in trade creditors 2019 liabilities .trade receivables from customers , net , as a percentage of fourth quarter sales , annualized , for 2011 was 17.9 percent , down slightly from 18.1 percent for 2010 .days sales outstanding was 66 days in 2011 , level with 2010 .inventories on a fifo basis as a percentage of fourth quarter sales , annualized , for 2011 was 13.1 percent level with 2010 .inventory turnover was 5.0 times in 2011 and 4.6 times in 2010 .total capital spending , including acquisitions , was $ 446 million , $ 341 million and $ 265 million in 2011 , 2010 , and 2009 , respectively .spending related to modernization and productivity improvements , expansion of existing businesses and environmental control projects was $ 390 million , $ 307 million and $ 239 million in 2011 , 2010 , and 2009 , respectively , and is expected to be in the range of $ 450-$ 550 million during 2012 .capital spending , excluding acquisitions , as a percentage of sales was 2.6% ( 2.6 % ) , 2.3% ( 2.3 % ) and 2.0% ( 2.0 % ) in 2011 , 2010 and 2009 , respectively .capital spending related to business acquisitions amounted to $ 56 million , $ 34 million , and $ 26 million in 2011 , 2010 and 2009 , respectively .we continue to evaluate acquisition opportunities and expect to use cash in 2012 to fund small to mid-sized acquisitions , as part of a balanced deployment of our cash to support growth in earnings .in january 2012 , the company closed the previously announced acquisitions of colpisa , a colombian producer of automotive oem and refinish coatings , and dyrup , a european architectural coatings company .the cost of these acquisitions , including assumed debt , was $ 193 million .dividends paid to shareholders totaled $ 355 million , $ 360 million and $ 353 million in 2011 , 2010 and 2009 , respectively .ppg has paid uninterrupted annual dividends since 1899 , and 2011 marked the 40th consecutive year of increased annual dividend payments to shareholders .we did not have a mandatory contribution to our u.s .defined benefit pension plans in 2011 ; however , we made voluntary contributions to these plans in 2011 totaling $ 50 million .in 2010 and 2009 , we made voluntary contributions to our u.s .defined benefit pension plans of $ 250 and $ 360 million ( of which $ 100 million was made in ppg stock ) , respectively .we expect to make voluntary contributions to our u.s .defined benefit pension plans in 2012 of up to $ 60 million .contributions were made to our non-u.s .defined benefit pension plans of $ 71 million , $ 87 million and $ 90 million ( of which approximately $ 20 million was made in ppg stock ) for 2011 , 2010 and 2009 , respectively , some of which were required by local funding requirements .we expect to make mandatory contributions to our non-u.s .plans in 2012 of approximately $ 90 million .the company 2019s share repurchase activity in 2011 , 2010 and 2009 was 10.2 million shares at a cost of $ 858 million , 8.1 million shares at a cost of $ 586 million and 1.5 million shares at a cost of $ 59 million , respectively .we expect to make share repurchases in 2012 as part of our cash deployment focused on earnings growth .the amount of spending will depend on the level of acquisition spending and other uses of cash , but we currently expect to spend in the range of $ 250 million to $ 500 million on share repurchases in 2012 .we can repurchase about 9 million shares under the current authorization from the board of directors .26 2011 ppg annual report and form 10-k .
|
what was the percentage change in cash from operating activities from 2010 to 2011?
|
10%
|
{
"answer": "10%",
"decimal": 0.1,
"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 32236 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 26039 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 analyze revenue by commodity group , we treat the financial results of the railroad as one segment due to the integrated nature of our rail network .our operating revenues are primarily derived from contracts with customers for the transportation of freight from origin to destination .effective january 1 , 2018 , the company reclassified its six commodity groups into four : agricultural products , energy , industrial , and premium .the following table represents a disaggregation of our freight and other revenues: .
[['millions', '2018', '2017', '2016'], ['agricultural products', '$ 4469', '$ 4303', '$ 4209'], ['energy', '4608', '4498', '3715'], ['industrial', '5679', '5204', '4964'], ['premium', '6628', '5832', '5713'], ['total freight revenues', '$ 21384', '$ 19837', '$ 18601'], ['other subsidiary revenues', '881', '885', '814'], ['accessorial revenues', '502', '458', '455'], ['other', '65', '60', '71'], ['total operating revenues', '$ 22832', '$ 21240', '$ 19941']]
although our revenues are principally derived from customers domiciled in the u.s. , the ultimate points of origination or destination for some products we transport are outside the u.s .each of our commodity groups includes revenue from shipments to and from mexico .included in the above table are freight revenues from our mexico business which amounted to $ 2.5 billion in 2018 , $ 2.3 billion in 2017 , and $ 2.2 billion in 2016 .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 , cash equivalents and restricted cash 2013 cash equivalents consist of investments with original maturities of three months or less .amounts included in restricted cash represent those required to be set aside by contractual agreement. .
|
what percent of total operating revenues in 2018 were industrial?
|
25%
|
{
"answer": "25%",
"decimal": 0.25,
"type": "percentage"
}
| |
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 2017?
|
161
|
{
"answer": "161",
"decimal": 161,
"type": "float"
}
| |
bhge 2017 form 10-k | 103 part iii item 10 .directors , executive officers and corporate governance information regarding our code of conduct , the spirit and the letter , and code of ethical conduct certificates for our principal executive officer , principal financial officer and principal accounting officer are described in item 1 .business of this annual report .information concerning our directors is set forth in the sections entitled "proposal no .1 , election of directors - board nominees for directors" and "corporate governance - committees of the board" in our definitive proxy statement for the 2018 annual meeting of stockholders to be filed with the sec pursuant to the exchange act within 120 days of the end of our fiscal year on december 31 , 2017 ( "proxy statement" ) , which sections are incorporated herein by reference .for information regarding our executive officers , see "item 1 .business - executive officers of baker hughes" in this annual report on form 10-k .additional information regarding compliance by directors and executive officers with section 16 ( a ) of the exchange act is set forth under the section entitled "section 16 ( a ) beneficial ownership reporting compliance" in our proxy statement , which section is incorporated herein by reference .item 11 .executive compensation information for this item is set forth in the following sections of our proxy statement , which sections are incorporated herein by reference : "compensation discussion and analysis" "director compensation" "compensation committee interlocks and insider participation" and "compensation committee report." item 12 .security ownership of certain beneficial owners and management and related stockholder matters information concerning security ownership of certain beneficial owners and our management is set forth in the sections entitled "stock ownership of certain beneficial owners" and 201cstock ownership of section 16 ( a ) director and executive officers 201d ) in our proxy statement , which sections are incorporated herein by reference .we permit our employees , officers and directors to enter into written trading plans complying with rule 10b5-1 under the exchange act .rule 10b5-1 provides criteria under which such an individual may establish a prearranged plan to buy or sell a specified number of shares of a company's stock over a set period of time .any such plan must be entered into in good faith at a time when the individual is not in possession of material , nonpublic information .if an individual establishes a plan satisfying the requirements of rule 10b5-1 , such individual's subsequent receipt of material , nonpublic information will not prevent transactions under the plan from being executed .certain of our officers have advised us that they have and may enter into stock sales plans for the sale of shares of our class a common stock which are intended to comply with the requirements of rule 10b5-1 of the exchange act .in addition , the company has and may in the future enter into repurchases of our class a common stock under a plan that complies with rule 10b5-1 or rule 10b-18 of the exchange act .equity compensation plan information the information in the following table is presented as of december 31 , 2017 with respect to shares of our class a common stock that may be issued under our lti plan which has been approved by our stockholders ( in millions , except per share prices ) .equity compensation plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in the first column ) .
[['equity compensation plancategory', 'number ofsecurities to beissued uponexercise ofoutstandingoptions warrantsand rights', 'weighted averageexercise price ofoutstandingoptions warrantsand rights', 'number of securitiesremaining availablefor future issuanceunder equitycompensation plans ( excluding securitiesreflected in the firstcolumn )'], ['stockholder-approved plans', '1.6', '$ 36.61', '53.7'], ['nonstockholder-approved plans', '2014', '2014', '2014'], ['total', '1.6', '$ 36.61', '53.7']]
.
|
what portion of the approved securities is to be issued upon exercise of outstanding options warrants rights?
|
2.9%
|
{
"answer": "2.9%",
"decimal": 0.028999999999999998,
"type": "percentage"
}
| |
russia and europe .average sales price realizations for uncoated freesheet paper decreased in both europe and russia , reflecting weak economic conditions and soft market demand .in russia , sales prices in rubles increased , but this improvement is masked by the impact of the currency depreciation against the u.s .dollar .input costs were significantly higher for wood in both europe and russia , partially offset by lower chemical costs .planned maintenance downtime costs were $ 11 million lower in 2014 than in 2013 .manufacturing and other operating costs were favorable .entering 2015 , sales volumes in the first quarter are expected to be seasonally weaker in russia , and about flat in europe .average sales price realizations for uncoated freesheet paper are expected to remain steady in europe , but increase in russia .input costs should be lower for oil and wood , partially offset by higher chemicals costs .indian papers net sales were $ 178 million in 2014 , $ 185 million ( $ 174 million excluding excise duties which were included in net sales in 2013 and prior periods ) in 2013 and $ 185 million ( $ 178 million excluding excise duties ) in 2012 .operating profits were $ 8 million ( a loss of $ 12 million excluding a gain related to the resolution of a legal contingency ) in 2014 , a loss of $ 145 million ( a loss of $ 22 million excluding goodwill and trade name impairment charges ) in 2013 and a loss of $ 16 million in 2012 .average sales price realizations improved in 2014 compared with 2013 due to the impact of price increases implemented in 2013 .sales volumes were flat , reflecting weak economic conditions .input costs were higher , primarily for wood .operating costs and planned maintenance downtime costs were lower in 2014 .looking ahead to the first quarter of 2015 , sales volumes are expected to be seasonally higher .average sales price realizations are expected to decrease due to competitive pressures .asian printing papers net sales were $ 59 million in 2014 , $ 90 million in 2013 and $ 85 million in 2012 .operating profits were $ 0 million in 2014 and $ 1 million in both 2013 and 2012 .u.s .pulp net sales were $ 895 million in 2014 compared with $ 815 million in 2013 and $ 725 million in 2012 .operating profits were $ 57 million in 2014 compared with $ 2 million in 2013 and a loss of $ 59 million in 2012 .sales volumes in 2014 increased from 2013 for both fluff pulp and market pulp reflecting improved market demand .average sales price realizations increased significantly for fluff pulp , while prices for market pulp were also higher .input costs for wood and energy were higher .operating costs were lower , but planned maintenance downtime costs were $ 1 million higher .compared with the fourth quarter of 2014 , sales volumes in the first quarter of 2015 , are expected to decrease for market pulp , but be slightly higher for fluff pulp .average sales price realizations are expected to to be stable for fluff pulp and softwood market pulp , while hardwood market pulp prices are expected to improve .input costs should be flat .planned maintenance downtime costs should be about $ 13 million higher than in the fourth 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 2014 decreased 1% ( 1 % ) from 2013 , but increased 7% ( 7 % ) from 2012 .operating profits increased 11% ( 11 % ) from 2013 , but decreased 34% ( 34 % ) from 2012 .excluding sheet plant closure costs , costs associated with the permanent shutdown of a paper machine at our augusta , georgia mill and costs related to the sale of the shorewood business , 2014 operating profits were 11% ( 11 % ) lower than in 2013 , and 30% ( 30 % ) lower than in 2012 .benefits from higher average sales price realizations and a favorable mix ( $ 60 million ) were offset by lower sales volumes ( $ 11 million ) , higher operating costs ( $ 9 million ) , higher planned maintenance downtime costs ( $ 12 million ) , higher input costs ( $ 43 million ) and higher other costs ( $ 7 million ) .in addition , operating profits in 2014 include $ 8 million of costs associated with sheet plant closures , while operating profits in 2013 include 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 .consumer packaging .
[['in millions', '2014', '2013', '2012'], ['sales', '$ 3403', '$ 3435', '$ 3170'], ['operating profit', '178', '161', '268']]
north american consumer packaging net sales were $ 2.0 billion in 2014 compared with $ 2.0 billion in 2013 and $ 2.0 billion in 2012 .operating profits were $ 92 million ( $ 100 million excluding sheet plant closure costs ) in 2014 compared with $ 63 million ( $ 110 million excluding paper machine shutdown costs and costs related to the sale of the shorewood business ) in 2013 and $ 165 million ( $ 162 million excluding a gain associated with the sale of the shorewood business in 2012 ) .coated paperboard sales volumes in 2014 were lower than in 2013 reflecting weaker market demand .the business took about 41000 tons of market-related downtime in 2014 compared with about 24000 tons in 2013 .average sales price realizations increased year- .
|
what was the average net sales for north american consumer packaging from 2012
|
2.0
|
{
"answer": "2.0",
"decimal": 2,
"type": "float"
}
| |
amount of commitment expiration per period other commercial commitments after millions of dollars total 2010 2011 2012 2013 2014 2014 .
[['other commercial commitmentsmillions of dollars', 'total', 'amount of commitment expiration per period 2010', 'amount of commitment expiration per period 2011', 'amount of commitment expiration per period 2012', 'amount of commitment expiration per period 2013', 'amount of commitment expiration per period 2014', 'amount of commitment expiration per period after 2014'], ['credit facilities [a]', '$ 1900', '$ -', '$ -', '$ 1900', '$ -', '$ -', '$ -'], ['sale of receivables [b]', '600', '600', '-', '-', '-', '-', '-'], ['guarantees [c]', '416', '29', '76', '24', '8', '214', '65'], ['standby letters of credit [d]', '22', '22', '-', '-', '-', '-', '-'], ['total commercial commitments', '$ 2938', '$ 651', '$ 76', '$ 1924', '$ 8', '$ 214', '$ 65']]
[a] none of the credit facility was used as of december 31 , 2009 .[b] $ 400 million of the sale of receivables program was utilized at december 31 , 2009 .[c] includes guaranteed obligations related to our headquarters building , equipment financings , and affiliated operations .[d] none of the letters of credit were drawn upon as of december 31 , 2009 .off-balance sheet arrangements sale of receivables 2013 the railroad transfers most of its accounts receivable to union pacific receivables , inc .( upri ) , a bankruptcy-remote subsidiary , as part of a sale of receivables facility .upri sells , without recourse on a 364-day revolving basis , an undivided interest in such accounts receivable to investors .the total capacity to sell undivided interests to investors under the facility was $ 600 million and $ 700 million at december 31 , 2009 and 2008 , respectively .the value of the outstanding undivided interest held by investors under the facility was $ 400 million and $ 584 million at december 31 , 2009 and 2008 , respectively .during 2009 , upri reduced the outstanding undivided interest held by investors due to a decrease in available receivables .the value of the undivided interest held by investors is not included in our consolidated financial statements .the value of the undivided interest held by investors was supported by $ 817 million and $ 1015 million of accounts receivable held by upri at december 31 , 2009 and 2008 , respectively .at december 31 , 2009 and 2008 , the value of the interest retained by upri was $ 417 million and $ 431 million , respectively .this retained interest is included in accounts receivable in our consolidated financial statements .the interest sold to investors is sold at carrying value , which approximates fair value , and there is no gain or loss recognized from the transaction .the value of the outstanding undivided interest held by investors could fluctuate based upon the availability of eligible receivables and is directly affected by changing business volumes and credit risks , including default and dilution .if default or dilution ratios increase one percent , the value of the outstanding undivided interest held by investors would not change as of december 31 , 2009 .should our credit rating fall below investment grade , the value of the outstanding undivided interest held by investors would be reduced , and , in certain cases , the investors would have the right to discontinue the facility .the railroad services the sold receivables ; however , the railroad does not recognize any servicing asset or liability , as the servicing fees adequately compensate us for these responsibilities .the railroad collected approximately $ 13.8 billion and $ 17.8 billion during the years ended december 31 , 2009 and 2008 , respectively .upri used certain of these proceeds to purchase new receivables under the facility .the costs of the sale of receivables program are included in other income and were $ 9 million , $ 23 million , and $ 35 million for 2009 , 2008 , and 2007 , respectively .the costs include interest , which will vary based on prevailing commercial paper rates , program fees paid to banks , commercial paper issuing costs , and fees for unused commitment availability .the decrease in the 2009 costs was primarily attributable to lower commercial paper rates and a decrease in the outstanding interest held by investors. .
|
what percentage of total commercial commitments are credit facilities?
|
65%
|
{
"answer": "65%",
"decimal": 0.65,
"type": "percentage"
}
| |
part a0ii item a05 .market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities our common stock is listed on the new york stock exchange under the symbol 201ctfx . 201d as of february 19 , 2019 , we had 473 holders of record of our common stock .a substantially greater number of holders of our common stock are beneficial owners whose shares are held by brokers and other financial institutions for the accounts of beneficial owners .stock performance graph the following graph provides a comparison of five year cumulative total stockholder returns of teleflex common stock , the standard a0& 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 a031 , 2013 and that all dividends were reinvested .market performance .
[['company / index', '2013', '2014', '2015', '2016', '2017', '2018'], ['teleflex incorporated', '100', '124', '143', '177', '275', '288'], ['s&p 500 index', '100', '114', '115', '129', '157', '150'], ['s&p 500 healthcare equipment & supply index', '100', '126', '134', '142', '186', '213']]
s&p 500 healthcare equipment & supply index 100 126 134 142 186 213 .
|
what was the percentage increase for teleflex incorporated's market performance from 2014-2015?
|
15.32%
|
{
"answer": "15.32%",
"decimal": 0.1532,
"type": "percentage"
}
| |
the analysis of our depreciation studies .changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively .under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized .the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies .the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes .because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate .in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies .any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets .for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies .a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations .when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .however , many of our assets are self-constructed .a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects .costs that are directly attributable to capital projects ( including overhead costs ) are capitalized .direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment .indirect costs are capitalized if they clearly relate to the construction of the asset .general and administrative expenditures are expensed as incurred .normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .these costs are allocated using appropriate statistical bases .total expense for repairs and maintenance incurred was $ 2.3 billion for 2013 , $ 2.1 billion for 2012 , and $ 2.2 billion for 2011 .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 2013 2012 .
[['millions', 'dec . 31 2013', 'dec . 312012'], ['accounts payable', '$ 803', '$ 825'], ['income and other taxes payable', '491', '368'], ['accrued wages and vacation', '385', '376'], ['dividends payable', '356', '318'], ['accrued casualty costs', '207', '213'], ['interest payable', '169', '172'], ['equipment rents payable', '96', '95'], ['other', '579', '556'], ['total accounts payable and othercurrent liabilities', '$ 3086', '$ 2923']]
.
|
what was the percentage change in total expense for repairs and maintenance from 2012 to 2013?
|
10%
|
{
"answer": "10%",
"decimal": 0.1,
"type": "percentage"
}
| |
the railroad collected approximately $ 18.8 billion and $ 16.3 billion of receivables during the years ended december 31 , 2011 and 2010 , respectively .upri used certain of these proceeds to purchase new receivables under the facility .the costs of the receivables securitization facility include interest , which will vary based on prevailing commercial paper rates , program fees paid to banks , commercial paper issuing costs , and fees for unused commitment availability .the costs of the receivables securitization facility are included in interest expense and were $ 4 million and $ 6 million for 2011 and 2010 , respectively .prior to adoption of the new accounting standard , the costs of the receivables securitization facility were included in other income and were $ 9 million for 2009 .the investors have no recourse to the railroad 2019s other assets , except for customary warranty and indemnity claims .creditors of the railroad do not have recourse to the assets of upri .in august 2011 , the receivables securitization facility was renewed for an additional 364-day period at comparable terms and conditions .contractual obligations and commercial commitments as described in the notes to the consolidated financial statements and as referenced in the tables below , we have contractual obligations and commercial commitments that may affect our financial condition .based on our assessment of the underlying provisions and circumstances of our contractual obligations and commercial commitments , including material sources of off-balance sheet and structured finance arrangements , other than the risks that we and other similarly situated companies face with respect to the condition of the capital markets ( as described in item 1a of part ii of this report ) , there is no known trend , demand , commitment , event , or uncertainty that is reasonably likely to occur that would have a material adverse effect on our consolidated results of operations , financial condition , or liquidity .in addition , our commercial obligations , financings , and commitments are customary transactions that are similar to those of other comparable corporations , particularly within the transportation industry .the following tables identify material obligations and commitments as of december 31 , 2011 : payments due by december 31 , contractual obligations after millions total 2012 2013 2014 2015 2016 2016 other .
[['contractual obligationsmillions', 'total', 'payments due by december 31 2012', 'payments due by december 31 2013', 'payments due by december 31 2014', 'payments due by december 31 2015', 'payments due by december 31 2016', 'payments due by december 31 after 2016', 'payments due by december 31 other'], ['debt [a]', '$ 12516', '$ 538', '$ 852', '$ 887', '$ 615', '$ 652', '$ 8972', '$ -'], ['operating leases [b]', '4528', '525', '489', '415', '372', '347', '2380', '-'], ['capital lease obligations [c]', '2559', '297', '269', '276', '276', '262', '1179', '-'], ['purchase obligations [d]', '5137', '2598', '568', '560', '276', '245', '858', '32'], ['other post retirement benefits [e]', '249', '26', '26', '26', '26', '26', '119', '-'], ['income tax contingencies [f]', '107', '31', '-', '-', '-', '-', '-', '76'], ['total contractualobligations', '$ 25096', '$ 4015', '$ 2204', '$ 2164', '$ 1565', '$ 1532', '$ 13508', '$ 108']]
[a] excludes capital lease obligations of $ 1874 million and unamortized discount of $ 364 million .includes an interest component of $ 5120 million .[b] includes leases for locomotives , freight cars , other equipment , and real estate .[c] represents total obligations , including interest component of $ 685 million .[d] purchase obligations include locomotive maintenance contracts ; purchase commitments for fuel purchases , locomotives , ties , ballast , and rail ; and agreements to purchase other goods and services .for amounts where we cannot reasonably estimate the year of settlement , they are reflected in the other column .[e] includes estimated other post retirement , medical , and life insurance payments and payments made under the unfunded pension plan for the next ten years .no amounts are included for funded pension obligations as no contributions are currently required .[f] future cash flows for income tax contingencies reflect the recorded liability for unrecognized tax benefits , including interest and penalties , as of december 31 , 2011 .where we can reasonably estimate the years in which these liabilities may be settled , this is shown in the table .for amounts where we cannot reasonably estimate the year of settlement , they are reflected in the other column. .
|
what percentage of total material obligations and commitments as of december 31 , 2011 are operating leases?
|
18%
|
{
"answer": "18%",
"decimal": 0.18,
"type": "percentage"
}
| |
item 2 .properties we employ a variety of assets in the management and operation of our rail business .our rail network covers 23 states in the western two-thirds of the u.s .our rail network includes 31838 route miles .we own 26009 miles and operate on the remainder pursuant to trackage rights or leases .the following table describes track miles at december 31 , 2013 and 2012 .2013 2012 .
[['', '2013', '2012'], ['route', '31838', '31868'], ['other main line', '6766', '6715'], ['passing lines and turnouts', '3167', '3124'], ['switching and classification yard lines', '9090', '9046'], ['total miles', '50861', '50753']]
headquarters building we maintain our headquarters in omaha , nebraska .the facility has 1.2 million square feet of space for approximately 4000 employees and is subject to a financing arrangement .harriman dispatching center the harriman dispatching center ( hdc ) , located in omaha , nebraska , is our primary dispatching facility .it is linked to regional dispatching and locomotive management facilities at various locations along our .
|
what percentage of total miles of track were switching and classification yard lines in 2012?
|
18%
|
{
"answer": "18%",
"decimal": 0.18,
"type": "percentage"
}
| |
kimco realty corporation and subsidiaries job title kimco realty ar revision 6 serial date / time tuesday , april 03 , 2007 /10:32 pm job number 142704 type current page no .65 operator pm2 <12345678> at december 31 , 2006 and 2005 , the company 2019s net invest- ment in the leveraged lease consisted of the following ( in mil- lions ) : .
[['', '2006', '2005'], ['remaining net rentals', '$ 62.3', '$ 68.9'], ['estimated unguaranteed residual value', '40.5', '43.8'], ['non-recourse mortgage debt', '-48.4 ( 48.4 )', '-52.8 ( 52.8 )'], ['unearned and deferred income', '-50.7 ( 50.7 )', '-55.9 ( 55.9 )'], ['net investment in leveraged lease', '$ 3.7', '$ 4.0']]
9 .mortgages and other financing receivables : during january 2006 , the company provided approximately $ 16.0 million as its share of a $ 50.0 million junior participation in a $ 700.0 million first mortgage loan , in connection with a private investment firm 2019s acquisition of a retailer .this loan participation bore interest at libor plus 7.75% ( 7.75 % ) per annum and had a two-year term with a one-year extension option and was collateralized by certain real estate interests of the retailer .during june 2006 , the borrower elected to pre-pay the outstanding loan balance of approximately $ 16.0 million in full satisfaction of this loan .additionally , during january 2006 , the company provided approximately $ 5.2 million as its share of an $ 11.5 million term loan to a real estate developer for the acquisition of a 59 acre land parcel located in san antonio , tx .this loan is interest only at a fixed rate of 11.0% ( 11.0 % ) for a term of two years payable monthly and collateralized by a first mortgage on the subject property .as of december 31 , 2006 , the outstanding balance on this loan was approximately $ 5.2 million .during february 2006 , the company committed to provide a one year $ 17.2 million credit facility at a fixed rate of 8.0% ( 8.0 % ) for a term of nine months and 9.0% ( 9.0 % ) for the remaining term to a real estate investor for the recapitalization of a discount and entertain- ment mall that it currently owns .during 2006 , this facility was fully paid and was terminated .during april 2006 , the company provided two separate mortgages aggregating $ 14.5 million on a property owned by a real estate investor .proceeds were used to payoff the existing first mortgage , buyout the existing partner and for redevelopment of the property .the mortgages bear interest at 8.0% ( 8.0 % ) per annum and mature in 2008 and 2013 .these mortgages are collateralized by the subject property .as of december 31 , 2006 , the aggregate outstanding balance on these mortgages was approximately $ 15.0 million , including $ 0.5 million of accrued interest .during may 2006 , the company provided a cad $ 23.5 million collateralized credit facility at a fixed rate of 8.5% ( 8.5 % ) per annum for a term of two years to a real estate company for the execution of its property acquisitions program .the credit facility is guaranteed by the real estate company .the company was issued 9811 units , valued at approximately usd $ 0.1 million , and warrants to purchase up to 0.1 million shares of the real estate company as a loan origination fee .during august 2006 , the company increased the credit facility to cad $ 45.0 million and received an additional 9811 units , valued at approximately usd $ 0.1 million , and warrants to purchase up to 0.1 million shares of the real estate company .as of december 31 , 2006 , the outstand- ing balance on this credit facility was approximately cad $ 3.6 million ( approximately usd $ 3.1 million ) .during september 2005 , a newly formed joint venture , in which the company had an 80% ( 80 % ) interest , acquired a 90% ( 90 % ) interest in a $ 48.4 million mortgage receivable for a purchase price of approximately $ 34.2 million .this loan bore interest at a rate of three-month libor plus 2.75% ( 2.75 % ) per annum and was scheduled to mature on january 12 , 2010 .a 626-room hotel located in lake buena vista , fl collateralized the loan .the company had determined that this joint venture entity was a vie and had further determined that the company was the primary benefici- ary of this vie and had therefore consolidated it for financial reporting purposes .during march 2006 , the joint venture acquired the remaining 10% ( 10 % ) of this mortgage receivable for a purchase price of approximately $ 3.8 million .during june 2006 , the joint venture accepted a pre-payment of approximately $ 45.2 million from the borrower as full satisfaction of this loan .during august 2006 , the company provided $ 8.8 million as its share of a $ 13.2 million 12-month term loan to a retailer for general corporate purposes .this loan bears interest at a fixed rate of 12.50% ( 12.50 % ) with interest payable monthly and a balloon payment for the principal balance at maturity .the loan is collateralized by the underlying real estate of the retailer .additionally , the company funded $ 13.3 million as its share of a $ 20.0 million revolving debtor-in-possession facility to this retailer .the facility bears interest at libor plus 3.00% ( 3.00 % ) and has an unused line fee of 0.375% ( 0.375 % ) .this credit facility is collateralized by a first priority lien on all the retailer 2019s assets .as of december 31 , 2006 , the compa- ny 2019s share of the outstanding balance on this loan and credit facility was approximately $ 7.6 million and $ 4.9 million , respec- tively .during september 2006 , the company provided a mxp 57.3 million ( approximately usd $ 5.3 million ) loan to an owner of an operating property in mexico .the loan , which is collateralized by the property , bears interest at 12.0% ( 12.0 % ) per annum and matures in 2016 .the company is entitled to a participation feature of 25% ( 25 % ) of annual cash flows after debt service and 20% ( 20 % ) of the gain on sale of the property .as of december 31 , 2006 , the outstand- ing balance on this loan was approximately mxp 57.8 million ( approximately usd $ 5.3 million ) .during november 2006 , the company committed to provide a mxp 124.8 million ( approximately usd $ 11.5 million ) loan to an owner of a land parcel in acapulco , mexico .the loan , which is collateralized with an operating property owned by the bor- rower , bears interest at 10% ( 10 % ) per annum and matures in 2016 .the company is entitled to a participation feature of 20% ( 20 % ) of excess cash flows and gains on sale of the property .as of decem- ber 31 , 2006 , the outstanding balance on this loan was mxp 12.8 million ( approximately usd $ 1.2 million ) . .
|
during january 2006 , what percentage of the long term loan to a real estate developer for the acquisition of a 59 acre land parcel located in san antonio , tx did the company provide?
|
45.21%
|
{
"answer": "45.21%",
"decimal": 0.4521,
"type": "percentage"
}
| |
unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies .a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations .when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .however , many of our assets are self-constructed .a large portion of our capital expenditures is for replacement of existing road infrastructure assets ( program projects ) , which is typically performed by our employees , and for track line expansion ( capacity projects ) .costs that are directly attributable or overhead costs that relate directly to capital projects are capitalized .direct costs that are capitalized as part of self-constructed assets include material , labor , and work equipment .indirect costs are capitalized if they clearly relate to the construction of the asset .these costs are allocated using appropriate statistical bases .general and administrative expenditures are expensed as incurred .normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .11 .accounts payable and other current liabilities dec .31 , dec .31 , millions of dollars 2009 2008 .
[['millions of dollars', 'dec . 31 2009', 'dec . 31 2008'], ['accounts payable', '$ 612', '$ 629'], ['accrued wages and vacation', '339', '367'], ['accrued casualty costs', '379', '390'], ['income and other taxes', '224', '207'], ['dividends and interest', '347', '328'], ['equipment rents payable', '89', '93'], ['other', '480', '546'], ['total accounts payable and other current liabilities', '$ 2470', '$ 2560']]
12 .financial instruments strategy and risk 2013 we may use derivative financial instruments in limited instances for other than trading purposes to assist in managing our overall exposure to fluctuations in interest rates and fuel prices .we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes .derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period .we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness .changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings .we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable interest rate and fuel price movements. .
|
what was the change in accrued wages and vacation in millions from 2008 to 2009?
|
-28
|
{
"answer": "-28",
"decimal": -28,
"type": "float"
}
| |
the company has a restricted stock plan for non-employee directors which reserves for issuance of 300000 shares of the company 2019s common stock .no restricted shares were issued in 2009 .the company has a directors 2019 deferral plan , which provides a means to defer director compensation , from time to time , on a deferred stock or cash basis .as of september 30 , 2009 , 86643 shares were held in trust , of which 4356 shares represented directors 2019 compensation in 2009 , in accordance with the provisions of the plan .under this plan , which is unfunded , directors have an unsecured contractual commitment from the company .the company also has a deferred compensation plan that allows certain highly-compensated employees , including executive officers , to defer salary , annual incentive awards and certain equity-based compensation .as of september 30 , 2009 , 557235 shares were issuable under this plan .note 16 2014 earnings per share the weighted average common shares used in the computations of basic and diluted earnings per share ( shares in thousands ) for the years ended september 30 were as follows: .
[['', '2009', '2008', '2007'], ['average common shares outstanding', '240479', '244323', '244929'], ['dilutive share equivalents from share-based plans', '6319', '8358', '9881'], ['average common and common equivalent sharesoutstanding 2014 assuming dilution', '246798', '252681', '254810']]
average common and common equivalent shares outstanding 2014 assuming dilution ....................................246798 252681 254810 note 17 2014 segment data the company 2019s organizational structure is based upon its three principal business segments : bd medical ( 201cmedical 201d ) , bd diagnostics ( 201cdiagnostics 201d ) and bd biosciences ( 201cbiosciences 201d ) .the principal product lines in the medical segment include needles , syringes and intravenous catheters for medication delivery ; safety-engineered and auto-disable devices ; prefilled iv flush syringes ; syringes and pen needles for the self-injection of insulin and other drugs used in the treatment of diabetes ; prefillable drug delivery devices provided to pharmaceutical companies and sold to end-users as drug/device combinations ; surgical blades/scalpels and regional anesthesia needles and trays ; critical care monitoring devices ; ophthalmic surgical instruments ; and sharps disposal containers .the principal products and services in the diagnostics segment include integrated systems for specimen collection ; an extensive line of safety-engineered specimen blood collection products and systems ; plated media ; automated blood culturing systems ; molecular testing systems for sexually transmitted diseases and healthcare-associated infections ; microorganism identification and drug susceptibility systems ; liquid-based cytology systems for cervical cancer screening ; and rapid diagnostic assays .the principal product lines in the biosciences segment include fluorescence activated cell sorters and analyzers ; cell imaging systems ; monoclonal antibodies and kits for performing cell analysis ; reagent systems for life sciences research ; tools to aid in drug discovery and growth of tissue and cells ; cell culture media supplements for biopharmaceutical manufacturing ; and diagnostic assays .the company evaluates performance of its business segments based upon operating income .segment operating income represents revenues reduced by product costs and operating expenses .the company hedges against certain forecasted sales of u.s.-produced products sold outside the united states .gains and losses associated with these foreign currency translation hedges are reported in segment revenues based upon their proportionate share of these international sales of u.s.-produced products .becton , dickinson and company notes to consolidated financial statements 2014 ( continued ) .
|
what is the percentage decrease for average common shares outstanding from 2008-2009?
|
1.57%
|
{
"answer": "1.57%",
"decimal": 0.015700000000000002,
"type": "percentage"
}
| |
taxing authorities could challenge our historical and future tax positions .our future effective tax rates could be affected by changes in the mix of earnings in countries with differing statutory rates and changes in tax laws or their interpretation including changes related to tax holidays or tax incentives .our taxes could increase if certain tax holidays or incentives are not renewed upon expiration , or if tax rates or regimes applicable to us in such jurisdictions are otherwise increased .the amount of tax we pay is subject to our interpretation of applicable tax laws in the jurisdictions in which we file .we have taken and will continue to take tax positions based on our interpretation of such tax laws .in particular , we will seek to organize and operate ourselves in such a way that we are and remain tax resident in the united kingdom .additionally , in determining the adequacy of our provision for income taxes , we regularly assess the likelihood of adverse outcomes resulting from tax examinations .while it is often difficult to predict the final outcome or the timing of the resolution of a tax examination , our reserves for uncertain tax benefits reflect the outcome of tax positions that are more likely than not to occur .while we believe that we have complied with all applicable tax laws , there can be no assurance that a taxing authority will not have a different interpretation of the law and assess us with additional taxes .should additional taxes be assessed , this may result in a material adverse effect on our results of operations and financial condition .item 1b .unresolved staff comments we have no unresolved sec staff comments to report .item 2 .properties as of december 31 , 2016 , we owned or leased 126 major manufacturing sites and 15 major technical centers .a manufacturing site may include multiple plants and may be wholly or partially owned or leased .we also have many smaller manufacturing sites , sales offices , warehouses , engineering centers , joint ventures and other investments strategically located throughout the world .we have a presence in 46 countries .the following table shows the regional distribution of our major manufacturing sites by the operating segment that uses such facilities : north america europe , middle east & africa asia pacific south america total .
[['', 'north america', 'europemiddle east& africa', 'asia pacific', 'south america', 'total'], ['electrical/electronic architecture', '32', '34', '25', '5', '96'], ['powertrain systems', '4', '8', '5', '1', '18'], ['electronics and safety', '3', '6', '3', '2014', '12'], ['total', '39', '48', '33', '6', '126']]
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 126 major manufacturing sites and 15 major technical centers , which include facilities owned or leased by our consolidated subsidiaries , 75 are primarily owned and 66 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. .
|
what is the percentage of electronics and safety sites among all sites?
|
9.52%
|
{
"answer": "9.52%",
"decimal": 0.09519999999999999,
"type": "percentage"
}
|
it is the number of sites related to electronics and safety divided by the total sites .
|
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 2011 to 2012?
|
-1%
|
{
"answer": "-1%",
"decimal": -0.01,
"type": "percentage"
}
| |
92 | 2017 form 10-k finite-lived intangible assets are amortized over their estimated useful lives and tested for impairment if events or changes in circumstances indicate that the asset may be impaired .in 2016 , gross customer relationship intangibles of $ 96 million and related accumulated amortization of $ 27 million as well as gross intellectual property intangibles of $ 111 million and related accumulated amortization of $ 48 million from the resource industries segment were impaired .the fair value of these intangibles was determined to be insignificant based on an income approach using expected cash flows .the fair value determination is categorized as level 3 in the fair value hierarchy due to its use of internal projections and unobservable measurement inputs .the total impairment of $ 132 million was a result of restructuring activities and is included in other operating ( income ) expense in statement 1 .see note 25 for information on restructuring costs .amortization expense related to intangible assets was $ 323 million , $ 326 million and $ 337 million for 2017 , 2016 and 2015 , respectively .as of december 31 , 2017 , amortization expense related to intangible assets is expected to be : ( millions of dollars ) .
[['2018', '2019', '2020', '2021', '2022', 'thereafter'], ['$ 322', '$ 316', '$ 305', '$ 287', '$ 268', '$ 613']]
b .goodwill there were no goodwill impairments during 2017 or 2015 .our annual impairment tests completed in the fourth quarter of 2016 indicated the fair value of each reporting unit was substantially above its respective carrying value , including goodwill , with the exception of our surface mining & technology reporting unit .the surface mining & technology reporting unit , which primarily serves the mining industry , is a part of our resource industries segment .the goodwill assigned to this reporting unit is largely from our acquisition of bucyrus international , inc .in 2011 .its product portfolio includes large mining trucks , electric rope shovels , draglines , hydraulic shovels and related parts .in addition to equipment , surface mining & technology also develops and sells technology products and services to provide customer fleet management , equipment management analytics and autonomous machine capabilities .the annual impairment test completed in the fourth quarter of 2016 indicated that the fair value of surface mining & technology was below its carrying value requiring the second step of the goodwill impairment test process .the fair value of surface mining & technology was determined primarily using an income approach based on a discounted ten year cash flow .we assigned the fair value to surface mining & technology 2019s assets and liabilities using various valuation techniques that required assumptions about royalty rates , dealer attrition , technological obsolescence and discount rates .the resulting implied fair value of goodwill was below the carrying value .accordingly , we recognized a goodwill impairment charge of $ 595 million , which resulted in goodwill of $ 629 million remaining for surface mining & technology as of october 1 , 2016 .the fair value determination is categorized as level 3 in the fair value hierarchy due to its use of internal projections and unobservable measurement inputs .there was a $ 17 million tax benefit associated with this impairment charge. .
|
what is the expected growth rate in amortization expense in 2017?
|
-0.9%
|
{
"answer": "-0.9%",
"decimal": -0.009000000000000001,
"type": "percentage"
}
| |
notes to the consolidated financial statements 40 2016 ppg annual report and form 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 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 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 and other distribution facilities .advertising costs advertising costs are expensed as incurred and totaled $ 322 million , $ 324 million and $ 297 million in 2016 , 2015 and 2014 , respectively .research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred. .
[['( $ in millions )', '2016', '2015', '2014'], ['research and development 2013 total', '$ 487', '$ 494', '$ 499'], ['less depreciation on research facilities', '21', '18', '16'], ['research and development net', '$ 466', '$ 476', '$ 483']]
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 net from 2014 to 2015?
|
-1%
|
{
"answer": "-1%",
"decimal": -0.01,
"type": "percentage"
}
| |
five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the 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 october?
|
4%
|
{
"answer": "4%",
"decimal": 0.04,
"type": "percentage"
}
| |
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 .
|
in 2013 what was the percent of the maturities of long term debt of the total contractual obligations for future payments under existing debt and lease commitments and purchase obligations at december 31 , 2012
|
11.52%
|
{
"answer": "11.52%",
"decimal": 0.1152,
"type": "percentage"
}
| |
cases ; ( ii ) management is unable to estimate the possible loss or range of loss that could result from an unfavorable outcome in any of the pending tobacco-related cases ; and ( iii ) accordingly , management has not provided any amounts in the consolidated financial statements for unfavorable outcomes , if any .legal defense costs are expensed as incurred .altria group , inc .and its subsidiaries have achieved substantial success in managing litigation .nevertheless , litigation is subject to uncertainty and significant challenges remain .it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome or settlement of certain pending litigation .altria group , inc .and each of its subsidiaries named as a defendant believe , and each has been so advised by counsel handling the respective cases , that it has valid defenses to the litigation pending against it , as well as valid bases for appeal of adverse verdicts .each of the companies has defended , and will continue to defend , vigorously against litigation challenges .however , altria group , inc .and its subsidiaries may enter into settlement discussions in particular cases if they believe it is in the best interests of altria group , inc .to do so .overview of altria group , inc .and/or pm usa tobacco-related litigation types and number of cases : claims related to tobacco products generally fall within the following categories : ( i ) smoking and health cases alleging personal injury brought on behalf of individual plaintiffs ; ( ii ) smoking and health cases primarily alleging personal injury or seeking court- supervised programs for ongoing medical monitoring and purporting to be brought on behalf of a class of individual plaintiffs , including cases in which the aggregated claims of a number of individual plaintiffs are to be tried in a single proceeding ; ( iii ) health care cost recovery cases brought by governmental ( both domestic and foreign ) plaintiffs seeking reimbursement for health care expenditures allegedly caused by cigarette smoking and/or disgorgement of profits ; ( iv ) class action suits alleging that the uses of the terms 201clights 201d and 201cultra lights 201d constitute deceptive and unfair trade practices , common law or statutory fraud , unjust enrichment , breach of warranty or violations of the racketeer influenced and corrupt organizations act ( 201crico 201d ) ; and ( v ) other tobacco- related litigation described below .plaintiffs 2019 theories of recovery and the defenses raised in pending smoking and health , health care cost recovery and 201clights/ultra lights 201d cases are discussed below .the table below lists the number of certain tobacco-related cases pending in the united states against pm usa and , in some instances , altria group , inc .as of december 31 , 2014 , december 31 , 2013 and december 31 , 2012 .type of case number of cases pending as of december 31 , 2014 number of cases pending as of december 31 , 2013 number of cases pending as of december 31 , 2012 individual smoking and health cases ( 1 ) 67 67 77 smoking and health class actions and aggregated claims litigation ( 2 ) 5 6 7 health care cost recovery actions ( 3 ) 1 1 1 .
[['type of case', 'number of casespending as ofdecember 31 2014', 'number of casespending as ofdecember 31 2013', 'number of casespending as ofdecember 31 2012'], ['individual smoking and health cases ( 1 )', '67', '67', '77'], ['smoking and health class actions and aggregated claims litigation ( 2 )', '5', '6', '7'], ['health care cost recovery actions ( 3 )', '1', '1', '1'], ['201clights/ultra lights 201d class actions', '12', '15', '14']]
( 1 ) does not include 2558 cases brought by flight attendants seeking compensatory damages for personal injuries allegedly caused by exposure to environmental tobacco smoke ( 201cets 201d ) .the flight attendants allege that they are members of an ets smoking and health class action in florida , which was settled in 1997 ( broin ) .the terms of the court-approved settlement in that case allow class members to file individual lawsuits seeking compensatory damages , but prohibit them from seeking punitive damages .also , does not include individual smoking and health cases brought by or on behalf of plaintiffs in florida state and federal courts following the decertification of the engle case ( discussed below in smoking and health litigation - engle class action ) .( 2 ) includes as one case the 600 civil actions ( of which 346 were actions against pm usa ) that were to be tried in a single proceeding in west virginia ( in re : tobacco litigation ) .the west virginia supreme court of appeals has ruled that the united states constitution did not preclude a trial in two phases in this case .issues related to defendants 2019 conduct and whether punitive damages are permissible were tried in the first phase .trial in the first phase of this case began in april 2013 .in may 2013 , the jury returned a verdict in favor of defendants on the claims for design defect , negligence , failure to warn , breach of warranty , and concealment and declined to find that the defendants 2019 conduct warranted punitive damages .plaintiffs prevailed on their claim that ventilated filter cigarettes should have included use instructions for the period 1964 - 1969 .the second phase , if any , will consist of individual trials to determine liability and compensatory damages on that claim only .in august 2013 , the trial court denied all post-trial motions .the trial court entered final judgment in october 2013 and , in november 2013 , plaintiffs filed their notice of appeal to the west virginia supreme court of appeals .on november 3 , 2014 , the west virginia supreme court of appeals affirmed the final judgment .plaintiffs filed a petition for rehearing with the west virginia supreme court of appeals , which the court denied on january 8 , 2015 .( 3 ) see health care cost recovery litigation - federal government 2019s lawsuit below .altria group , inc .and subsidiaries notes to consolidated financial statements _________________________ altria_mdc_2014form10k_nolinks_crops.pdf 68 2/25/15 5:56 pm .
|
what is the total tobacco-related cases pending in the united states as of december 31 , 2013?
|
89
|
{
"answer": "89",
"decimal": 89,
"type": "float"
}
| |
deferred tax assets and liabilities are recorded in the accompanying consolidated balance sheet under the captions deferred income tax assets , deferred charges and other assets , other accrued liabilities and deferred income taxes .the decrease in 2009 in deferred tax assets principally relates to the tax impact of changes in recorded qualified pension liabilities , minimum tax credit utilization and an increase in the valuation allowance .the decrease in deferred income tax liabilities principally relates to less tax depreciation taken on the company 2019s assets purchased in 2009 .the valuation allowance for deferred tax assets as of december 31 , 2008 was $ 72 million .the net change in the total valuation allowance for the year ended december 31 , 2009 , was an increase of $ 274 million .the increase of $ 274 million consists primarily of : ( 1 ) $ 211 million related to the company 2019s french operations , including a valuation allowance of $ 55 million against net deferred tax assets from current year operations and $ 156 million recorded in the second quarter of 2009 for the establishment of a valuation allowance against previously recorded deferred tax assets , ( 2 ) $ 10 million for net deferred tax assets arising from the company 2019s united king- dom current year operations , and ( 3 ) $ 47 million related to a reduction of previously recorded u.s .state deferred tax assets , including $ 15 million recorded in the fourth quarter of 2009 for louisiana recycling credits .the effect on the company 2019s effec- tive tax rate of the aforementioned $ 211 million and $ 10 million is included in the line item 201ctax rate and permanent differences on non-u.s .earnings . 201d international paper adopted the provisions of new guidance under asc 740 , 201cincome taxes , 201d on jan- uary 1 , 2007 related to uncertain tax positions .as a result of the implementation of this new guidance , the company recorded a charge to the beginning balance of retained earnings of $ 94 million , which was accounted for as a reduction to the january 1 , 2007 balance of retained earnings .a reconciliation of the beginning and ending amount of unrecognized tax benefits for the year ending december 31 , 2009 and 2008 is as follows : in millions 2009 2008 2007 .
[['in millions', '2009', '2008', '2007'], ['balance at january 1', '$ -435 ( 435 )', '$ -794 ( 794 )', '-919 ( 919 )'], ['additions based on tax positions related to current year', '-28 ( 28 )', '-14 ( 14 )', '-12 ( 12 )'], ['additions for tax positions of prior years', '-82 ( 82 )', '-66 ( 66 )', '-30 ( 30 )'], ['reductions for tax positions of prior years', '72', '67', '74'], ['settlements', '174', '352', '112'], ['expiration of statutes of limitations', '2', '3', '5'], ['currency translation adjustment', '-11 ( 11 )', '17', '-24 ( 24 )'], ['balance at december 31', '$ -308 ( 308 )', '$ -435 ( 435 )', '$ -794 ( 794 )']]
included in the balance at december 31 , 2009 and 2008 are $ 56 million and $ 9 million , respectively , for tax positions for which the ultimate benefits are highly certain , but for which there is uncertainty about the timing of such benefits .however , except for the possible effect of any penalties , any dis- allowance that would change the timing of these benefits would not affect the annual effective tax rate , but would accelerate the payment of cash to the taxing authority to an earlier period .the company accrues interest on unrecognized tax benefits as a component of interest expense .penal- ties , if incurred , are recognized as a component of income tax expense .the company had approx- imately $ 95 million and $ 74 million accrued for the payment of estimated interest and penalties asso- ciated with unrecognized tax benefits at december 31 , 2009 and 2008 , respectively .the major jurisdictions where the company files income tax returns are the united states , brazil , france , poland and russia .generally , tax years 2002 through 2009 remain open and subject to examina- tion by the relevant tax authorities .the company is typically engaged in various tax examinations at any given time , both in the united states and overseas .currently , the company is engaged in discussions with the u.s .internal revenue service regarding the examination of tax years 2006 and 2007 .as a result of these discussions , other pending tax audit settle- ments , and the expiration of statutes of limitation , the company currently estimates that the amount of unrecognized tax benefits could be reduced by up to $ 125 million during the next twelve months .during 2009 , unrecognized tax benefits decreased by $ 127 million .while the company believes that it is adequately accrued for possible audit adjustments , the final resolution of these examinations cannot be determined at this time and could result in final settlements that differ from current estimates .the company 2019s 2009 income tax provision of $ 469 million included $ 279 million related to special items and other charges , consisting of a $ 534 million tax benefit related to restructuring and other charges , a $ 650 million tax expense for the alternative fuel mixture credit , and $ 163 million of tax-related adjustments including a $ 156 million tax expense to establish a valuation allowance for net operating loss carryforwards in france , a $ 26 million tax benefit for the effective settlement of federal tax audits , a $ 15 million tax expense to establish a valuation allow- ance for louisiana recycling credits , and $ 18 million of other income tax adjustments .excluding the impact of special items , the tax provision was .
|
what was the percentage change in the deffered tax asset balance in 2009 from 2008
|
380.5%
|
{
"answer": "380.5%",
"decimal": 3.805,
"type": "percentage"
}
| |
at december 31 , 2013 , total future minimum commitments under existing non-cancelable operating leases and purchase obligations were as follows: .
[['in millions', '2014', '2015', '2016', '2017', '2018', 'thereafter'], ['lease obligations', '$ 171', '$ 133', '$ 97', '$ 74', '$ 59', '$ 162'], ['purchase obligations ( a )', '3170', '770', '642', '529', '453', '2404'], ['total', '$ 3341', '$ 903', '$ 739', '$ 603', '$ 512', '$ 2566']]
( a ) includes $ 3.3 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 $ 215 million , $ 231 million and $ 205 million for 2013 , 2012 and 2011 , 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 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 $ 94 million in the aggregate at december 31 , 2013 .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 site 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 $ 51 million to address this 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 : 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 $ 42 million at december 31 , 2013 .other than as described above , completion of required remedial actions is not expected to have a material effect on our consolidated financial statements .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 .the company has not received any orders from the epa with respect to the site and continues to collect information from the epa and other parties relative to the site to evaluate the extent of its liability , if any , with respect to the site .accordingly , it is premature to estimate a loss or range of loss with respect to this site .also in connection with the kalamazoo river superfund 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 seeks contribution under cercla for $ 79 million in costs purportedly expended by plaintiffs as of the filing of the complaint and for future remediation costs .the suit alleges that a mill , during the time it was allegedly owned and operated by st .regis , discharged pcb contaminated solids and paper residuals resulting from paper de-inking and recycling .also named as defendants in the suit are ncr corporation and weyerhaeuser company .in mid-2011 , the suit was transferred from the district court for the eastern district of wisconsin to the district court for the western .
|
what was the ratio of the lease obligations to purchase obligations
|
0.13
|
{
"answer": "0.13",
"decimal": 0.13,
"type": "float"
}
| |
notes to the consolidated financial statements at a price equal to 101% ( 101 % ) of their principal amount plus accrued and unpaid interest .cash proceeds from the sale of these notes was $ 983 million ( net of discount and issuance costs ) .the discount and issuance costs related to these notes , which totaled $ 17 million , will be amortized to interest expense over the respective terms of the notes .in august 2010 , ppg entered into a three-year credit agreement with several banks and financial institutions ( the 201ccredit agreement 201d ) .the credit agreement provides for a $ 1.2 billion unsecured revolving credit facility .in connection with entering into this credit agreement , the company terminated its 20ac650 million and its $ 1 billion revolving credit facilities that were each set to expire in 2011 .there were no outstanding amounts due under either revolving facility at the times of their termination .the company has the ability to increase the size of the credit agreement by up to an additional $ 300 million , subject to the receipt of lender commitments and other conditions .the credit agreement will terminate and all amounts outstanding will be due and payable on august 5 , 2013 .the credit agreement provides that loans will bear interest at rates based , at the company 2019s option , on one of two specified base rates plus a margin based on certain formulas defined in the credit agreement .additionally , the credit agreement contains a commitment fee on the amount of unused commitment under the credit agreement ranging from 0.125% ( 0.125 % ) to 0.625% ( 0.625 % ) per annum .the applicable interest rate and the fee will vary depending on the ratings established by standard & poor 2019s financial services llc and moody 2019s investor service inc .for the company 2019s non-credit enhanced , long- term , senior , unsecured debt .there were no amounts outstanding under the credit agreement at december 31 , 2011 ; however , the available borrowing rate on a one month , u.s .dollar denominated borrowing would have been 1.05 percent .the credit agreement contains usual and customary restrictive covenants for facilities of its type , which include , with specified exceptions , limitations on the company 2019s ability to create liens or other encumbrances , to enter into sale and leaseback transactions and to enter into consolidations , mergers or transfers of all or substantially all of its assets .the credit agreement also requires the company to maintain a ratio of total indebtedness to total capitalization , as defined in the credit agreement , of 60 percent or less .the credit agreement contains customary events of default that would permit the lenders to accelerate the repayment of any loans , including the failure to make timely payments when due under the credit agreement or other material indebtedness , the failure to satisfy covenants contained in the credit agreement , a change in control of the company and specified events of bankruptcy and insolvency .ppg 2019s non-u.s .operations have uncommitted lines of credit totaling $ 679 million of which $ 36 million was used as of december 31 , 2011 .these uncommitted lines of credit are subject to cancellation at any time and are generally not subject to any commitment fees .short-term debt outstanding as of december 31 , 2011 and 2010 , was as follows : ( millions ) 2011 2010 other , weighted average 3.72% ( 3.72 % ) as of dec .31 , 2011 and 3.39% ( 3.39 % ) as of december 31 , 2010 33 24 total $ 33 $ 24 ppg is in compliance with the restrictive covenants under its various credit agreements , loan agreements and indentures .the company 2019s revolving credit agreements include a financial ratio covenant .the covenant requires that the amount of total indebtedness not exceed 60% ( 60 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments .as of december 31 , 2011 , total indebtedness was 43 percent of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments .additionally , substantially all of the company 2019s debt agreements contain customary cross-default provisions .those provisions generally provide that a default on a debt service payment of $ 10 million or more for longer than the grace period provided ( usually 10 days ) under one agreement may result in an event of default under other agreements .none of the company 2019s primary debt obligations are secured or guaranteed by the company 2019s affiliates .interest payments in 2011 , 2010 and 2009 totaled $ 212 million , $ 189 million and $ 201 million , respectively .in october 2009 , the company entered into an agreement with a counterparty to repurchase up to 1.2 million shares of the company 2019s stock of which 1.1 million shares were purchased in the open market ( 465006 of these shares were purchased as of december 31 , 2009 at a weighted average price of $ 56.66 per share ) .the counterparty held the shares until september of 2010 when the company paid $ 65 million and took possession of these shares .in december 2008 , the company entered into an agreement with a counterparty to repurchase 1.5 million 44 2011 ppg annual report and form 10-k .
[['( millions )', '2011', '2010'], ['other weighted average 3.72% ( 3.72 % ) as of dec . 31 2011 and 3.39% ( 3.39 % ) as of december 31 2010', '33', '24'], ['total', '$ 33', '$ 24']]
notes to the consolidated financial statements at a price equal to 101% ( 101 % ) of their principal amount plus accrued and unpaid interest .cash proceeds from the sale of these notes was $ 983 million ( net of discount and issuance costs ) .the discount and issuance costs related to these notes , which totaled $ 17 million , will be amortized to interest expense over the respective terms of the notes .in august 2010 , ppg entered into a three-year credit agreement with several banks and financial institutions ( the 201ccredit agreement 201d ) .the credit agreement provides for a $ 1.2 billion unsecured revolving credit facility .in connection with entering into this credit agreement , the company terminated its 20ac650 million and its $ 1 billion revolving credit facilities that were each set to expire in 2011 .there were no outstanding amounts due under either revolving facility at the times of their termination .the company has the ability to increase the size of the credit agreement by up to an additional $ 300 million , subject to the receipt of lender commitments and other conditions .the credit agreement will terminate and all amounts outstanding will be due and payable on august 5 , 2013 .the credit agreement provides that loans will bear interest at rates based , at the company 2019s option , on one of two specified base rates plus a margin based on certain formulas defined in the credit agreement .additionally , the credit agreement contains a commitment fee on the amount of unused commitment under the credit agreement ranging from 0.125% ( 0.125 % ) to 0.625% ( 0.625 % ) per annum .the applicable interest rate and the fee will vary depending on the ratings established by standard & poor 2019s financial services llc and moody 2019s investor service inc .for the company 2019s non-credit enhanced , long- term , senior , unsecured debt .there were no amounts outstanding under the credit agreement at december 31 , 2011 ; however , the available borrowing rate on a one month , u.s .dollar denominated borrowing would have been 1.05 percent .the credit agreement contains usual and customary restrictive covenants for facilities of its type , which include , with specified exceptions , limitations on the company 2019s ability to create liens or other encumbrances , to enter into sale and leaseback transactions and to enter into consolidations , mergers or transfers of all or substantially all of its assets .the credit agreement also requires the company to maintain a ratio of total indebtedness to total capitalization , as defined in the credit agreement , of 60 percent or less .the credit agreement contains customary events of default that would permit the lenders to accelerate the repayment of any loans , including the failure to make timely payments when due under the credit agreement or other material indebtedness , the failure to satisfy covenants contained in the credit agreement , a change in control of the company and specified events of bankruptcy and insolvency .ppg 2019s non-u.s .operations have uncommitted lines of credit totaling $ 679 million of which $ 36 million was used as of december 31 , 2011 .these uncommitted lines of credit are subject to cancellation at any time and are generally not subject to any commitment fees .short-term debt outstanding as of december 31 , 2011 and 2010 , was as follows : ( millions ) 2011 2010 other , weighted average 3.72% ( 3.72 % ) as of dec .31 , 2011 and 3.39% ( 3.39 % ) as of december 31 , 2010 33 24 total $ 33 $ 24 ppg is in compliance with the restrictive covenants under its various credit agreements , loan agreements and indentures .the company 2019s revolving credit agreements include a financial ratio covenant .the covenant requires that the amount of total indebtedness not exceed 60% ( 60 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments .as of december 31 , 2011 , total indebtedness was 43 percent of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments .additionally , substantially all of the company 2019s debt agreements contain customary cross-default provisions .those provisions generally provide that a default on a debt service payment of $ 10 million or more for longer than the grace period provided ( usually 10 days ) under one agreement may result in an event of default under other agreements .none of the company 2019s primary debt obligations are secured or guaranteed by the company 2019s affiliates .interest payments in 2011 , 2010 and 2009 totaled $ 212 million , $ 189 million and $ 201 million , respectively .in october 2009 , the company entered into an agreement with a counterparty to repurchase up to 1.2 million shares of the company 2019s stock of which 1.1 million shares were purchased in the open market ( 465006 of these shares were purchased as of december 31 , 2009 at a weighted average price of $ 56.66 per share ) .the counterparty held the shares until september of 2010 when the company paid $ 65 million and took possession of these shares .in december 2008 , the company entered into an agreement with a counterparty to repurchase 1.5 million 44 2011 ppg annual report and form 10-k .
|
what was the percentage change in total interest payments from 2009 to 2010?
|
-6%
|
{
"answer": "-6%",
"decimal": -0.06,
"type": "percentage"
}
| |
at december 31 , 2012 and 2011 , we had a working capital surplus .this reflects a strong cash position , which provides enhanced liquidity in an uncertain economic environment .in addition , we believe we have adequate access to capital markets to meet any foreseeable cash requirements , and we have sufficient financial capacity to satisfy our current liabilities .cash flows millions 2012 2011 2010 .
[['cash flowsmillions', '2012', '2011', '2010'], ['cash provided by operating activities', '$ 6161', '$ 5873', '$ 4105'], ['cash used in investing activities', '-3633 ( 3633 )', '-3119 ( 3119 )', '-2488 ( 2488 )'], ['cash used in financing activities', '-2682 ( 2682 )', '-2623 ( 2623 )', '-2381 ( 2381 )'], ['net change in cash and cashequivalents', '$ -154 ( 154 )', '$ 131', '$ -764 ( 764 )']]
operating activities higher net income in 2012 increased cash provided by operating activities compared to 2011 , partially offset by lower tax benefits from bonus depreciation ( as explained below ) and payments for past wages based on national labor negotiations settled earlier this year .higher net income and lower cash income tax payments in 2011 increased cash provided by operating activities compared to 2010 .the tax relief , unemployment insurance reauthorization , and job creation act of 2010 provided for 100% ( 100 % ) bonus depreciation for qualified investments made during 2011 , and 50% ( 50 % ) bonus depreciation for qualified investments made during 2012 .as a result of the act , the company deferred a substantial portion of its 2011 income tax expense .this deferral decreased 2011 income tax payments , thereby contributing to the positive operating cash flow .in future years , however , additional cash will be used to pay income taxes that were previously deferred .in addition , the adoption of a new accounting standard in january of 2010 changed the accounting treatment for our receivables securitization facility from a sale of undivided interests ( recorded as an operating activity ) to a secured borrowing ( recorded as a financing activity ) , which decreased cash provided by operating activities by $ 400 million in 2010 .investing activities higher capital investments in 2012 drove the increase in cash used in investing activities compared to 2011 .included in capital investments in 2012 was $ 75 million for the early buyout of 165 locomotives under long-term operating and capital leases during the first quarter of 2012 , which we exercised due to favorable economic terms and market conditions .higher capital investments partially offset by higher proceeds from asset sales in 2011 drove the increase in cash used in investing activities compared to 2010. .
|
what was the change in millions of cash provided by operating activities from 2010 to 2011?
|
1768
|
{
"answer": "1768",
"decimal": 1768,
"type": "float"
}
| |
advance auto parts , inc .and subsidiaries notes to the consolidated financial statements december 28 , 2013 , december 29 , 2012 and december 31 , 2011 ( in thousands , except per share data ) in july 2012 , the fasb issued asu no .2012-02 201cintangible-goodwill and other 2013 testing indefinite-lived intangible assets for impairment . 201d asu 2012-02 modifies the requirement to test intangible assets that are not subject to amortization based on events or changes in circumstances that might indicate that the asset is impaired now requiring the test only if it is more likely than not that the asset is impaired .furthermore , asu 2012-02 provides entities the option of performing a qualitative assessment to determine if it is more likely than not that the fair value of an intangible asset is less than the carrying amount as a basis for determining whether it is necessary to perform a quantitative impairment test .asu 2012-02 is effective for fiscal years beginning after september 15 , 2012 and early adoption is permitted .the adoption of asu 2012-02 had no impact on the company 2019s consolidated financial condition , results of operations or cash flows .3 .inventories , net : merchandise inventory the company used the lifo method of accounting for approximately 95% ( 95 % ) of inventories at both december 28 , 2013 and december 29 , 2012 .under lifo , the company 2019s cost of sales reflects the costs of the most recently purchased inventories , while the inventory carrying balance represents the costs for inventories purchased in fiscal 2013 and prior years .the company recorded a reduction to cost of sales of $ 5572 and $ 24087 in fiscal 2013 and fiscal 2012 , respectively .the company 2019s overall costs to acquire inventory for the same or similar products have generally decreased historically as the company has been able to leverage its continued growth , execution of merchandise strategies and realization of supply chain efficiencies .in fiscal 2011 , the company recorded an increase to cost of sales of $ 24708 due to an increase in supply chain costs and inflationary pressures affecting certain product categories .product cores the remaining inventories are comprised of product cores , the non-consumable portion of certain parts and batteries , which are valued under the first-in , first-out ( 201cfifo 201d ) method .product cores are included as part of the company 2019s merchandise costs and are either passed on to the customer or returned to the vendor .because product cores are not subject to frequent cost changes like the company 2019s other merchandise inventory , there is no material difference when applying either the lifo or fifo valuation method .inventory overhead costs purchasing and warehousing costs included in inventory as of december 28 , 2013 and december 29 , 2012 , were $ 161519 and $ 134258 , respectively .inventory balance and inventory reserves inventory balances at the end of fiscal 2013 and 2012 were as follows : december 28 , december 29 .
[['', 'december 282013', 'december 292012'], ['inventories at fifo net', '$ 2424795', '$ 2182419'], ['adjustments to state inventories at lifo', '131762', '126190'], ['inventories at lifo net', '$ 2556557', '$ 2308609']]
inventory quantities are tracked through a perpetual inventory system .the company completes physical inventories and other targeted inventory counts in its store locations to ensure the accuracy of the perpetual inventory quantities of both merchandise and core inventory in these locations .in its distribution centers and pdq aes , the company uses a cycle counting program to ensure the accuracy of the perpetual inventory quantities of both merchandise and product core inventory .reserves for estimated shrink are established based on the results of physical inventories conducted by the company with the assistance of an independent third party in substantially all of the company 2019s stores over the course of the year , other targeted inventory counts in its stores , results from recent cycle counts in its distribution facilities and historical and current loss trends. .
|
what was the percentage increase of inventories at lifo net from the beginning of 2012 to the end of 2013?
|
17.1% increase
|
{
"answer": "17.1% increase",
"decimal": 0.171,
"type": "percentage"
}
|
to find the percentage increase of inventories at lifo net , one must take the inventories for 2013 and subtract it from the inventories from 2012 . then take the answer and divide it by the inventories for 2012
|
advance auto parts , inc .and subsidiaries notes to consolidated financial statements 2013 ( continued ) december 30 , 2006 , december 31 , 2005 and january 1 , 2005 ( in thousands , except per share data ) 8 .inventories , net inventories are stated at the lower of cost or market , cost being determined using the last-in , first-out ( "lifo" ) method for approximately 93% ( 93 % ) of inventories at both december 30 , 2006 and december 31 , 2005 .under the lifo method , the company 2019s cost of sales reflects the costs of the most currently purchased inventories while the inventory carrying balance represents the costs relating to prices paid in prior years .the company 2019s costs to acquire inventory have been generally decreasing in recent years as a result of its significant growth .accordingly , the cost to replace inventory is less than the lifo balances carried for similar product .as a result of the lifo method and the ability to obtain lower product costs , the company recorded a reduction to cost of sales of $ 9978 for fiscal year ended 2006 , an increase in cost of sales of $ 526 for fiscal year ended 2005 and a reduction to cost of sales of $ 11212 for fiscal year ended 2004 .the remaining inventories are comprised of product cores , which consist of the non-consumable portion of certain parts and batteries and are valued under the first-in , first-out ( "fifo" ) method .core values are included as part of our merchandise costs and are either passed on to the customer or returned to the vendor .additionally , these products are not subject to the frequent cost changes like our other merchandise inventory , thus , there is no material difference from applying either the lifo or fifo valuation methods .the company capitalizes certain purchasing and warehousing costs into inventory .purchasing and warehousing costs included in inventory , at fifo , at december 30 , 2006 and december 31 , 2005 , were $ 95576 and $ 92833 , respectively .inventories consist of the following : december 30 , december 31 , 2006 2005 .
[['', 'december 30 2006', 'december 31 2005'], ['inventories at fifo net', '$ 1380573', '$ 1294310'], ['adjustments to state inventories at lifo', '82767', '72789'], ['inventories at lifo net', '$ 1463340', '$ 1367099']]
replacement cost approximated fifo cost at december 30 , 2006 and december 31 , 2005 .inventory quantities are tracked through a perpetual inventory system .the company uses a cycle counting program in all distribution centers , parts delivered quickly warehouses , or pdqs , local area warehouses , or laws , and retail stores to ensure the accuracy of the perpetual inventory quantities of both merchandise and core inventory .the company establishes reserves for estimated shrink based on historical accuracy and effectiveness of the cycle counting program .the company also establishes reserves for potentially excess and obsolete inventories based on current inventory levels and the historical analysis of product sales and current market conditions .the nature of the company 2019s inventory is such that the risk of obsolescence is minimal and excess inventory has historically been returned to the company 2019s vendors for credit .the company provides reserves when less than full credit is expected from a vendor or when liquidating product will result in retail prices below recorded costs .the company 2019s reserves against inventory for these matters were $ 31376 and $ 22825 at december 30 , 2006 and december 31 , 2005 , respectively .9 .property and equipment : property and equipment are stated at cost , less accumulated depreciation .expenditures for maintenance and repairs are charged directly to expense when incurred ; major improvements are capitalized .when items are sold or retired , the related cost and accumulated depreciation are removed from the accounts , with any gain or loss reflected in the consolidated statements of operations .depreciation of land improvements , buildings , furniture , fixtures and equipment , and vehicles is provided over the estimated useful lives , which range from 2 to 40 years , of the respective assets using the straight-line method. .
|
what was the percentage change in reserves against inventory from 2005 to 2006?
|
37.5%
|
{
"answer": "37.5%",
"decimal": 0.375,
"type": "percentage"
}
|
to find the percentage change in reserves against inventory from 2005 to 2006 one must subtract the 2006 number from the 2005 and then take the answer and divide it by the reserves against inventory for 2005 .
|
unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies .a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations .when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .however , many of our assets are self-constructed .a large portion of our capital expenditures is for replacement of existing road infrastructure assets ( program projects ) , which is typically performed by our employees , and for track line expansion ( capacity projects ) .costs that are directly attributable or overhead costs that relate directly to capital projects are capitalized .direct costs that are capitalized as part of self-constructed assets include material , labor , and work equipment .indirect costs are capitalized if they clearly relate to the construction of the asset .these costs are allocated using appropriate statistical bases .general and administrative expenditures are expensed as incurred .normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .11 .accounts payable and other current liabilities dec .31 , dec .31 , millions of dollars 2009 2008 .
[['millions of dollars', 'dec . 31 2009', 'dec . 31 2008'], ['accounts payable', '$ 612', '$ 629'], ['accrued wages and vacation', '339', '367'], ['accrued casualty costs', '379', '390'], ['income and other taxes', '224', '207'], ['dividends and interest', '347', '328'], ['equipment rents payable', '89', '93'], ['other', '480', '546'], ['total accounts payable and other current liabilities', '$ 2470', '$ 2560']]
12 .financial instruments strategy and risk 2013 we may use derivative financial instruments in limited instances for other than trading purposes to assist in managing our overall exposure to fluctuations in interest rates and fuel prices .we are not a party to leveraged derivatives and , by policy , do not use derivative financial instruments for speculative purposes .derivative financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged , both at inception and throughout the hedged period .we formally document the nature and relationships between the hedging instruments and hedged items at inception , as well as our risk-management objectives , strategies for undertaking the various hedge transactions , and method of assessing hedge effectiveness .changes in the fair market value of derivative financial instruments that do not qualify for hedge accounting are charged to earnings .we may use swaps , collars , futures , and/or forward contracts to mitigate the risk of adverse movements in interest rates and fuel prices ; however , the use of these derivative financial instruments may limit future benefits from favorable interest rate and fuel price movements. .
|
what was the change in equipment rents payable in millions from 2008 to 2009?
|
-4
|
{
"answer": "-4",
"decimal": -4,
"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. .
|
what is the percentage increase of total accounts payable and other current liabilities from 2009-2010?
|
9.84%
|
{
"answer": "9.84%",
"decimal": 0.0984,
"type": "percentage"
}
| |
abiomed , inc .and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 3 .acquisitions ( continued ) including the revenues of third-party licensees , or ( ii ) the company 2019s sale of ( a ) ecp , ( b ) all or substantially all of ecp 2019s assets , or ( c ) certain of ecp 2019s patent rights , the company will pay to syscore the lesser of ( x ) one-half of the profits earned from such sale described in the foregoing item ( ii ) , after accounting for the costs of acquiring and operating ecp , or ( y ) $ 15.0 million ( less any previous milestone payment ) .ecp 2019s acquisition of ais gmbh aachen innovative solutions in connection with the company 2019s acquisition of ecp , ecp acquired all of the share capital of ais gmbh aachen innovative solutions ( 201cais 201d ) , a limited liability company incorporated in germany , pursuant to a share purchase agreement dated as of june 30 , 2014 , by and among ecp and ais 2019s four individual shareholders .ais , based in aachen , germany , holds certain intellectual property useful to ecp 2019s business , and , prior to being acquired by ecp , had licensed such intellectual property to ecp .the purchase price for the acquisition of ais 2019s share capital was approximately $ 2.8 million in cash , which was provided by the company , and the acquisition closed immediately prior to abiomed europe 2019s acquisition of ecp .the share purchase agreement contains representations , warranties and closing conditions customary for transactions of its size and nature .purchase price allocation the acquisition of ecp and ais was accounted for as a business combination .the purchase price for the acquisition has been allocated to the assets acquired and liabilities assumed based on their estimated fair values .the acquisition-date fair value of the consideration transferred is as follows : acquisition date fair value ( in thousands ) .
[['', 'total acquisition date fair value ( in thousands )'], ['cash consideration', '$ 15750'], ['contingent consideration', '6000'], ['total consideration transferred', '$ 21750']]
.
|
what portion of total consideration transferred for acquisition of ecp and ais is cash consideration?
|
72.4%
|
{
"answer": "72.4%",
"decimal": 0.7240000000000001,
"type": "percentage"
}
| |
adjusted net income of $ 4.6 billion translated into adjusted earnings of $ 5.79 per diluted share , a best- ever performance .f0b7 freight revenues 2013 our freight revenues increased 7% ( 7 % ) year-over-year to $ 19.8 billion driven by volume growth of 2% ( 2 % ) , higher fuel surcharge revenue , and core pricing gains .growth in frac sand , coal , and intermodal shipments more than offset declines in grain , crude oil , finished vehicles , and rock shipments .f0b7 fuel prices 2013 our average price of diesel fuel in 2017 was $ 1.81 per gallon , an increase of 22% ( 22 % ) from 2016 , as both crude oil and conversion spreads between crude oil and diesel increased in 2017 .the higher price resulted in increased operating expenses of $ 334 million ( excluding any impact from year- over-year volume growth ) .gross-ton miles increased 5% ( 5 % ) , which also drove higher fuel expense .our fuel consumption rate , computed as gallons of fuel consumed divided by gross ton-miles in thousands , improved 2% ( 2 % ) .f0b7 free cash flow 2013 cash generated by operating activities totaled $ 7.2 billion , yielding free cash flow of $ 2.2 billion after reductions of $ 3.1 billion for cash used in investing activities and $ 2 billion in dividends , which included a 10% ( 10 % ) increase in our quarterly dividend per share from $ 0.605 to $ 0.665 declared and paid in the fourth quarter of 2017 .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 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', '2017', '2016', '2015'], ['cash provided by operating activities', '$ 7230', '$ 7525', '$ 7344'], ['cash used in investing activities', '-3086 ( 3086 )', '-3393 ( 3393 )', '-4476 ( 4476 )'], ['dividends paid', '-1982 ( 1982 )', '-1879 ( 1879 )', '-2344 ( 2344 )'], ['free cash flow', '$ 2162', '$ 2253', '$ 524']]
2018 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 , training and employee engagement , quality control , 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 2018 , we will continue to align resources with customer demand , maintain an efficient network , and ensure surge capability of our assets .f0b7 fuel prices 2013 fuel price projections for crude oil and natural gas continue to fluctuate in the current environment .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 increases or decreases 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 could likely have a negative impact on other commodities such as coal and domestic drilling-related shipments. .
|
what was the percentage change in free cash flow from 2015 to 2016?
|
330%
|
{
"answer": "330%",
"decimal": 3.3,
"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 operating margin from printing papers in 2012
|
9.6%
|
{
"answer": "9.6%",
"decimal": 0.096,
"type": "percentage"
}
| |
a lump sum buyout cost of approximately $ 1.1 million .total rent expense under these leases , included in the accompanying consolidated statements of operations , was approximately $ 893000 , $ 856000 and $ 823000 for the fiscal years ended march 31 , 2001 , 2002 and 2003 , respectively .during the fiscal year ended march 31 , 2000 , the company entered into 36-month operating leases totaling approximately $ 644000 for the lease of office furniture .these leases ended in fiscal year 2003 and at the company 2019s option the furniture was purchased at its fair market value .rental expense recorded for these leases during the fiscal years ended march 31 , 2001 , 2002 and 2003 was approximately $ 215000 , $ 215000 and $ 127000 respectively .during fiscal 2000 , the company entered into a 36-month capital lease for computer equipment and software for approximately $ 221000 .this lease ended in fiscal year 2003 and at the company 2019s option these assets were purchased at the stipulated buyout price .future minimum lease payments under all non-cancelable operating leases as of march 31 , 2003 are approximately as follows ( in thousands ) : .
[['year ending march 31,', 'operating leases'], ['2004', '$ 781'], ['2005', '776'], ['2006', '776'], ['2007', '769'], ['2008', '772'], ['thereafter', '1480'], ['total future minimum lease payments', '$ 5354']]
from time to time , the company is involved in legal and administrative proceedings and claims of various types .while any litigation contains an element of uncertainty , management , in consultation with the company 2019s general counsel , presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened , or all of them combined , will not have a material adverse effect on the company .7 .stock option and purchase plans all stock options granted by the company under the below-described plans were granted at the fair value of the underlying common stock at the date of grant .outstanding stock options , if not exercised , expire 10 years from the date of grant .the 1992 combination stock option plan ( the combination plan ) , as amended , was adopted in september 1992 as a combination and restatement of the company 2019s then outstanding incentive stock option plan and nonqualified plan .a total of 2670859 options were awarded from the combination plan during its ten-year restatement term that ended on may 1 , 2002 .as of march 31 , 2003 , 1286042 of these options remain outstanding and eligible for future exercise .these options are held by company employees and generally become exercisable ratably over five years .the 1998 equity incentive plan , ( the equity incentive plan ) , was adopted by the company in august 1998 .the equity incentive plan provides for grants of options to key employees , directors , advisors and consultants as either incentive stock options or nonqualified stock options as determined by the company 2019s board of directors .a maximum of 1000000 shares of common stock may be awarded under this plan .options granted under the equity incentive plan are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant .options outstanding under the equity incentive plan have vesting periods of 3 to 5 years from the date of grant .the 2000 stock incentive plan , ( the 2000 plan ) , was adopted by the company in august 2000 .the 2000 plan provides for grants of options to key employees , directors , advisors and consultants to the company or its subsidiaries as either incentive or nonqualified stock options as determined by the company 2019s board of directors .up to 1400000 shares of common stock may be awarded under the 2000 plan and are exercisable at such times and subject to such terms as the board of directors may specify at the time of each stock option grant .options outstanding under the 2000 plan generally vested 4 years from the date of grant .the company has a nonqualified stock option plan for non-employee directors ( the directors 2019 plan ) .the directors 2019 plan , as amended , was adopted in july 1989 and provides for grants of options to purchase shares of the company 2019s common stock to non-employee directors of the company .up to 400000 shares of common stock may be awarded under the directors 2019 plan .options outstanding under the directors 2019 plan have vesting periods of 1 to 5 years from the date of grant .notes to consolidated financial statements ( continued ) march 31 , 2003 page 25 .
|
what portion of total future minimum lease payments is due in the next 24 months?
|
29.1%
|
{
"answer": "29.1%",
"decimal": 0.29100000000000004,
"type": "percentage"
}
| |
item 7 .management 2019s discussion and analysis of financial condition and results of operations executive summary international paper 2019s operating results in 2006 bene- fited from strong gains in pricing and sales volumes and lower operating costs .our average paper and packaging prices in 2006 increased faster than our costs for the first time in four years .the improve- ment in sales volumes reflects increased uncoated papers , corrugated box , coated paperboard and european papers shipments , as well as improved revenues from our xpedx distribution business .our manufacturing operations also made solid cost reduction improvements .lower interest expense , reflecting debt repayments in 2005 and 2006 , was also a positive factor .together , these improvements more than offset the effects of continued high raw material and distribution costs , lower real estate sales , higher net corporate expenses and lower con- tributions from businesses and forestlands divested during 2006 .looking forward to 2007 , we expect seasonally higher sales volumes in the first quarter .average paper price realizations should continue to improve as we implement previously announced price increases in europe and brazil .input costs for energy , fiber and chemicals are expected to be mixed , although slightly higher in the first quarter .operating results will benefit from the recently completed international paper/sun paperboard joint ventures in china and the addition of the luiz anto- nio paper mill to our operations in brazil .however , primarily as a result of lower real estate sales in the first quarter , we anticipate earnings from continuing operations will be somewhat lower than in the 2006 fourth quarter .significant steps were also taken in 2006 in the execution of the company 2019s transformation plan .we completed the sales of our u.s .and brazilian coated papers businesses and 5.6 million acres of u.s .forestlands , and announced definitive sale agreements for our kraft papers , beverage pack- aging and arizona chemical businesses and a majority of our wood products business , all expected to close during 2007 .through december 31 , 2006 , we have received approximately $ 9.7 billion of the estimated proceeds from divest- itures announced under this plan of approximately $ 11.3 billion , with the balance to be received as the remaining divestitures are completed in the first half of 2007 .we have strengthened our balance sheet by reducing debt by $ 6.2 billion , and returned value to our shareholders by repurchasing 39.7 million shares of our common stock for approximately $ 1.4 billion .we made a $ 1.0 billion voluntary contribution to our u.s .qualified pension fund .we have identified selective reinvestment opportunities totaling approx- imately $ 2.0 billion , including opportunities in china , brazil and russia .finally , we remain focused on our three-year $ 1.2 billion target for non-price profit- ability improvements , with $ 330 million realized during 2006 .while more remains to be done in 2007 , we have made substantial progress toward achiev- ing the objectives announced at the outset of the plan in july 2005 .results of operations industry segment operating profits are used by inter- national paper 2019s management to measure the earn- ings performance of its businesses .management believes that this measure allows a better under- standing of trends in costs , operating efficiencies , prices and volumes .industry segment operating profits are defined as earnings before taxes and minority interest , interest expense , corporate items and corporate special items .industry segment oper- ating profits are defined by the securities and exchange commission as a non-gaap financial measure , and are not gaap alternatives to net income or any other operating measure prescribed by accounting principles generally accepted in the united states .international paper operates in six segments : print- ing papers , industrial packaging , consumer pack- aging , distribution , forest products and specialty businesses and other .the following table shows the components of net earnings ( loss ) for each of the last three years : in millions 2006 2005 2004 .
[['in millions', '2006', '2005', '2004'], ['industry segment operating profits', '$ 2074', '$ 1622', '$ 1703'], ['corporate items net', '-746 ( 746 )', '-607 ( 607 )', '-477 ( 477 )'], ['corporate special items*', '2373', '-134 ( 134 )', '-141 ( 141 )'], ['interest expense net', '-521 ( 521 )', '-595 ( 595 )', '-712 ( 712 )'], ['minority interest', '-9 ( 9 )', '-9 ( 9 )', '-21 ( 21 )'], ['income tax ( provision ) benefit', '-1889 ( 1889 )', '407', '-114 ( 114 )'], ['discontinued operations', '-232 ( 232 )', '416', '-273 ( 273 )'], ['net earnings ( loss )', '$ 1050', '$ 1100', '$ -35 ( 35 )']]
* corporate special items include gains on transformation plan forestland sales , goodwill impairment charges , restructuring and other charges , net losses on sales and impairments of businesses , insurance recoveries and reversals of reserves no longer required. .
|
what was the ratio of the debt reduction to the stock repurchase
|
4.43
|
{
"answer": "4.43",
"decimal": 4.43,
"type": "float"
}
|
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