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CONVFINQA5354	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nhumana inc . notes to consolidated financial statements 2014 ( continued ) in any spe transactions . the adoption of fin 46 or fin 46-r did not have a material impact on our financial position , results of operations , or cash flows . in december 2004 , the fasb issued statement no . 123r , share-based payment , or statement 123r , which requires companies to expense the fair value of employee stock options and other forms of stock-based compensation . this requirement represents a significant change because fixed-based stock option awards , a predominate form of stock compensation for us , were not recognized as compensation expense under apb 25 . statement 123r requires the cost of the award , as determined on the date of grant at fair value , be recognized over the period during which an employee is required to provide service in exchange for the award ( usually the vesting period ) . the grant-date fair value of the award will be estimated using option-pricing models . we are required to adopt statement 123r no later than july 1 , 2005 under one of three transition methods , including a prospective , retrospective and combination approach . we previously disclosed on page 67 the effect of expensing stock options under a fair value approach using the black-scholes pricing model for 2004 , 2003 and 2002 . we currently are evaluating all of the provisions of statement 123r and the expected effect on us including , among other items , reviewing compensation strategies related to stock-based awards , selecting an option pricing model and determining the transition method . in march 2004 , the fasb issued eitf issue no . 03-1 , or eitf 03-1 , the meaning of other-than- temporary impairment and its application to certain investments . eitf 03-1 includes new guidance for evaluating and recording impairment losses on certain debt and equity investments when the fair value of the investment security is less than its carrying value . in september 2004 , the fasb delayed the previously scheduled third quarter 2004 effective date until the issuance of additional implementation guidance , expected in 2005 . upon issuance of a final standard , we will evaluate the impact on our consolidated financial position and results of operations . 3 . acquisitions on february 16 , 2005 , we acquired careplus health plans of florida , or careplus , as well as its affiliated 10 medical centers and pharmacy company . careplus provides medicare advantage hmo plans and benefits to medicare eligible members in miami-dade , broward and palm beach counties . this acquisition enhances our medicare market position in south florida . we paid approximately $ 450 million in cash including estimated transaction costs , subject to a balance sheet settlement process with a nine month claims run-out period . we currently are in the process of allocating the purchase price to the net tangible and intangible assets . on april 1 , 2004 , we acquired ochsner health plan , or ochsner , from the ochsner clinic foundation . ochsner is a louisiana health benefits company offering network-based managed care plans to employer-groups and medicare eligible members . this acquisition enabled us to enter a new market with significant market share which should facilitate new sales opportunities in this and surrounding markets , including houston , texas . we paid $ 157.1 million in cash , including transaction costs . the fair value of the tangible assets ( liabilities ) as of the acquisition date are as follows: . <table class='wikitable'><tr><td>1</td><td>-</td><td>( in thousands )</td></tr><tr><td>2</td><td>cash and cash equivalents</td><td>$ 15270</td></tr><tr><td>3</td><td>investment securities</td><td>84527</td></tr><tr><td>4</td><td>premiums receivable and other current assets</td><td>20616</td></tr><tr><td>5</td><td>property and equipment and other assets</td><td>6847</td></tr><tr><td>6</td><td>medical and other expenses payable</td><td>-71063 ( 71063 )</td></tr><tr><td>7</td><td>other current liabilities</td><td>-21604 ( 21604 )</td></tr><tr><td>8</td><td>other liabilities</td><td>-82 ( 82 )</td></tr><tr><td>9</td><td>net tangible assets acquired</td><td>$ 34511</td></tr></table> .\nQuestion: what was the sum of cash and cash equivalents and investment securities?\nAnswer: 99797.0\nQuestion: what is the sum of premiums receivable and other current assets plus property, equipment and other assets?\nAnswer: 27463.0\nQuestion: what is the total sum?\nAnswer: 127260.0\nQuestion: what is the value of property, equipment and other assets?\n" }, { "role": "agent", "content": "6847.0" } ]
CONVFINQA8504	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nentergy corporation notes to consolidated financial statements the annual long-term debt maturities ( excluding lease obligations ) for debt outstanding as of december 31 , 2004 , for the next five years are as follows: . <table class='wikitable'><tr><td>1</td><td>-</td><td>( in thousands )</td></tr><tr><td>2</td><td>2005</td><td>$ 467298</td></tr><tr><td>3</td><td>2006</td><td>$ 75896</td></tr><tr><td>4</td><td>2007</td><td>$ 199539</td></tr><tr><td>5</td><td>2008</td><td>$ 747246</td></tr><tr><td>6</td><td>2009</td><td>$ 512584</td></tr></table> in november 2000 , entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction . entergy issued notes to nypa with seven annual installments of approximately $ 108 million commencing one year from the date of the closing , and eight annual installments of $ 20 million commencing eight years from the date of the closing . these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) . in accordance with the purchase agreement with nypa , the purchase of indian point 2 in 2001 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $ 10 million per year for 10 years , beginning in september 2003 . this liability was recorded upon the purchase of indian point 2 in september 2001 , and is included in the note payable to nypa balance above . in july 2003 , a payment of $ 102 million was made prior to maturity on the note payable to nypa . under a provision in a letter of credit supporting these notes , if certain of the domestic utility companies or system energy were to default on other indebtedness , entergy could be required to post collateral to support the letter of credit . covenants in the entergy corporation notes require it to maintain a consolidated debt ratio of 65% ( 65 % ) or less of its total capitalization . if entergy's debt ratio exceeds this limit , or if entergy or certain of the domestic utility companies default on other indebtedness or are in bankruptcy or insolvency proceedings , an acceleration of the notes' maturity dates may occur . the long-term securities issuances of entergy corporation , entergy gulf states , entergy louisiana , entergy mississippi , and system energy also are limited to amounts authorized by the sec . under its current sec order , and without further authorization , entergy corporation cannot incur additional indebtedness or issue other securities unless ( a ) it and each of its public utility subsidiaries maintain a common equity ratio of at least 30% ( 30 % ) and ( b ) the security to be issued ( if rated ) and all outstanding securities of entergy corporation that are rated , are rated investment grade by at least one nationally recognized statistical rating agency . under their current sec orders , and without further authorization , entergy gulf states , entergy louisiana , and entergy mississippi cannot incur additional indebtedness or issue other securities unless ( a ) the issuer and entergy corporation maintains a common equity ratio of at least 30% ( 30 % ) and ( b ) the security to be issued ( if rated ) and all outstanding securities of the issuer ( other than preferred stock of entergy gulf states ) , as well as all outstanding securities of entergy corporation , that are rated , are rated investment grade . junior subordinated deferrable interest debentures and implementation of fin 46 entergy implemented fasb interpretation no . 46 , \"consolidation of variable interest entities\" effective december 31 , 2003 . fin 46 requires existing unconsolidated variable interest entities to be consolidated by their primary beneficiaries if the entities do not effectively disperse risks among their investors . variable interest entities ( vies ) , generally , are entities that do not have sufficient equity to permit the entity to finance its operations without additional financial support from its equity interest holders and/or the group of equity interest holders are collectively not able to exercise control over the entity . the primary beneficiary is the party that absorbs a majority of the entity's expected losses , receives a majority of its expected residual returns , or both as a result of holding the variable interest . a company may have an interest in a vie through ownership or other contractual rights or obligations . entergy louisiana capital i , entergy arkansas capital i , and entergy gulf states capital i ( trusts ) were established as financing subsidiaries of entergy louisiana , entergy arkansas , and entergy gulf states .\nQuestion: what is, in thousands, the total of long-term debt due in the years of 2005 and 2006, combined?\nAnswer: 543194.0\nQuestion: and what is the long-term debt due in 2007, also in thousands?\nAnswer: 199539.0\nQuestion: including, then, 2007, what then becomes that total of long-term debt for the three years, in thousands?\nAnswer: 742733.0\nQuestion: and how much is that in millions?\n" }, { "role": "agent", "content": "742.733" } ]
CONVFINQA4502	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nmarathon oil corporation notes to consolidated financial statements stock-based performance unit awards 2013 during 2018 , 2017 and 2016 we granted 754140 , 563631 and 1205517 stock- based performance unit awards to officers . at december 31 , 2018 , there were 1196176 units outstanding . total stock-based performance unit awards expense was $ 13 million in 2018 , $ 8 million in 2017 and $ 6 million in 2016 . the key assumptions used in the monte carlo simulation to determine the fair value of stock-based performance units granted in 2018 , 2017 and 2016 were: . <table class='wikitable'><tr><td>1</td><td>-</td><td>2018</td><td>2017</td><td>2016</td></tr><tr><td>2</td><td>valuation date stock price</td><td>$ 14.17</td><td>$ 14.17</td><td>$ 14.17</td></tr><tr><td>3</td><td>expected annual dividend yield</td><td>1.4% ( 1.4 % )</td><td>1.4% ( 1.4 % )</td><td>1.4% ( 1.4 % )</td></tr><tr><td>4</td><td>expected volatility</td><td>39% ( 39 % )</td><td>43% ( 43 % )</td><td>52% ( 52 % )</td></tr><tr><td>5</td><td>risk-free interest rate</td><td>2.5% ( 2.5 % )</td><td>2.6% ( 2.6 % )</td><td>2.4% ( 2.4 % )</td></tr><tr><td>6</td><td>fair value of stock-based performance units outstanding</td><td>$ 19.60</td><td>$ 19.45</td><td>$ 21.51</td></tr></table> 18 . defined benefit postretirement plans and defined contribution plan we have noncontributory defined benefit pension plans covering substantially all domestic employees , as well as u.k . employees who were hired before april 2010 . certain employees located in e.g. , who are u.s . or u.k . based , also participate in these plans . benefits under these plans are based on plan provisions specific to each plan . for the u.k . pension plan , the principal employer and plan trustees reached a decision to close the plan to future benefit accruals effective december 31 , 2015 . we also have defined benefit plans for other postretirement benefits covering our u.s . employees . health care benefits are provided up to age 65 through comprehensive hospital , surgical and major medical benefit provisions subject to various cost- sharing features . post-age 65 health care benefits are provided to certain u.s . employees on a defined contribution basis . life insurance benefits are provided to certain retiree beneficiaries . these other postretirement benefits are not funded in advance . employees hired after 2016 are not eligible for any postretirement health care or life insurance benefits. .\nQuestion: what was the fair value of stock-based performance units outstanding in 2018?\nAnswer: 19.6\nQuestion: what was the value in 2016?\nAnswer: 21.51\nQuestion: what is the net change?\nAnswer: -1.91\nQuestion: what is the percent change?\n" }, { "role": "agent", "content": "-0.0888" } ]
CONVFINQA4739	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\njpmorgan chase & co./2014 annual report 291 therefore , are not recorded on the consolidated balance sheets until settlement date . the unsettled reverse repurchase agreements and securities borrowing agreements predominantly consist of agreements with regular-way settlement periods . loan sales- and securitization-related indemnifications mortgage repurchase liability in connection with the firm 2019s mortgage loan sale and securitization activities with the gses , as described in note 16 , the firm has made representations and warranties that the loans sold meet certain requirements . the firm has been , and may be , required to repurchase loans and/or indemnify the gses ( e.g. , with 201cmake-whole 201d payments to reimburse the gses for their realized losses on liquidated loans ) . to the extent that repurchase demands that are received relate to loans that the firm purchased from third parties that remain viable , the firm typically will have the right to seek a recovery of related repurchase losses from the third party . generally , the maximum amount of future payments the firm would be required to make for breaches of these representations and warranties would be equal to the unpaid principal balance of such loans that are deemed to have defects that were sold to purchasers ( including securitization-related spes ) plus , in certain circumstances , accrued interest on such loans and certain expense . the following table summarizes the change in the mortgage repurchase liability for each of the periods presented . summary of changes in mortgage repurchase liability ( a ) year ended december 31 , ( in millions ) 2014 2013 2012 repurchase liability at beginning of period $ 681 $ 2811 $ 3557 net realized gains/ ( losses ) ( b ) 53 ( 1561 ) ( 1158 ) . <table class='wikitable'><tr><td>1</td><td>year ended december 31 ( in millions )</td><td>2014</td><td>2013</td><td>2012</td></tr><tr><td>2</td><td>repurchase liability at beginning of period</td><td>$ 681</td><td>$ 2811</td><td>$ 3557</td></tr><tr><td>3</td><td>net realized gains/ ( losses ) ( b )</td><td>53</td><td>-1561 ( 1561 )</td><td>-1158 ( 1158 )</td></tr><tr><td>4</td><td>reclassification to litigation reserve</td><td>2014</td><td>-179 ( 179 )</td><td>2014</td></tr><tr><td>5</td><td>( benefit ) /provision for repurchase ( c )</td><td>-459 ( 459 )</td><td>-390 ( 390 )</td><td>412</td></tr><tr><td>6</td><td>repurchase liability at end of period</td><td>$ 275</td><td>$ 681</td><td>$ 2811</td></tr></table> ( benefit ) /provision for repurchase ( c ) ( 459 ) ( 390 ) 412 repurchase liability at end of period $ 275 $ 681 $ 2811 ( a ) on october 25 , 2013 , the firm announced that it had reached a $ 1.1 billion agreement with the fhfa to resolve , other than certain limited types of exposures , outstanding and future mortgage repurchase demands associated with loans sold to the gses from 2000 to 2008 . ( b ) presented net of third-party recoveries and included principal losses and accrued interest on repurchased loans , 201cmake-whole 201d settlements , settlements with claimants , and certain related expense . make-whole settlements were $ 11 million , $ 414 million and $ 524 million , for the years ended december 31 , 2014 , 2013 and 2012 , respectively . ( c ) included a provision related to new loan sales of $ 4 million , $ 20 million and $ 112 million , for the years ended december 31 , 2014 , 2013 and 2012 , respectively . private label securitizations the liability related to repurchase demands associated with private label securitizations is separately evaluated by the firm in establishing its litigation reserves . on november 15 , 2013 , the firm announced that it had reached a $ 4.5 billion agreement with 21 major institutional investors to make a binding offer to the trustees of 330 residential mortgage-backed securities trusts issued by j.p.morgan , chase , and bear stearns ( 201crmbs trust settlement 201d ) to resolve all representation and warranty claims , as well as all servicing claims , on all trusts issued by j.p . morgan , chase , and bear stearns between 2005 and 2008 . the seven trustees ( or separate and successor trustees ) for this group of 330 trusts have accepted the rmbs trust settlement for 319 trusts in whole or in part and excluded from the settlement 16 trusts in whole or in part . the trustees 2019 acceptance is subject to a judicial approval proceeding initiated by the trustees , which is pending in new york state court . in addition , from 2005 to 2008 , washington mutual made certain loan level representations and warranties in connection with approximately $ 165 billion of residential mortgage loans that were originally sold or deposited into private-label securitizations by washington mutual . of the $ 165 billion , approximately $ 78 billion has been repaid . in addition , approximately $ 49 billion of the principal amount of such loans has liquidated with an average loss severity of 59% ( 59 % ) . accordingly , the remaining outstanding principal balance of these loans as of december 31 , 2014 , was approximately $ 38 billion , of which $ 8 billion was 60 days or more past due . the firm believes that any repurchase obligations related to these loans remain with the fdic receivership . for additional information regarding litigation , see note 31 . loans sold with recourse the firm provides servicing for mortgages and certain commercial lending products on both a recourse and nonrecourse basis . in nonrecourse servicing , the principal credit risk to the firm is the cost of temporary servicing advances of funds ( i.e. , normal servicing advances ) . in recourse servicing , the servicer agrees to share credit risk with the owner of the mortgage loans , such as fannie mae or freddie mac or a private investor , insurer or guarantor . losses on recourse servicing predominantly occur when foreclosure sales proceeds of the property underlying a defaulted loan are less than the sum of the outstanding principal balance , plus accrued interest on the loan and the cost of holding and disposing of the underlying property . the firm 2019s securitizations are predominantly nonrecourse , thereby effectively transferring the risk of future credit losses to the purchaser of the mortgage-backed securities issued by the trust . at december 31 , 2014 and 2013 , the unpaid principal balance of loans sold with recourse totaled $ 6.1 billion and $ 7.7 billion , respectively . the carrying value of the related liability that the firm has recorded , which is representative of the firm 2019s view of the likelihood it .\nQuestion: what was the amount of the repurchase liability at end of period for 2012?\nAnswer: 2811.0\nQuestion: and in that same year, what was the total of the make-whole settlements?\n" }, { "role": "agent", "content": "524.0" } ]
CONVFINQA62	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\n2022 timing of available information , including the performance of first lien positions , and 2022 limitations of available historical data . pnc 2019s determination of the alll for non-impaired loans is sensitive to the risk grades assigned to commercial loans and loss rates for consumer loans . there are several other qualitative and quantitative factors considered in determining the alll . this sensitivity analysis does not necessarily reflect the nature and extent of future changes in the alll . it is intended to provide insight into the impact of adverse changes to risk grades and loss rates only and does not imply any expectation of future deterioration in the risk ratings or loss rates . given the current processes used , we believe the risk grades and loss rates currently assigned are appropriate . in the hypothetical event that the aggregate weighted average commercial loan risk grades would experience a 1% ( 1 % ) deterioration , assuming all other variables remain constant , the allowance for commercial loans would increase by approximately $ 35 million as of december 31 , 2014 . in the hypothetical event that consumer loss rates would increase by 10% ( 10 % ) , assuming all other variables remain constant , the allowance for consumer loans would increase by approximately $ 37 million at december 31 , 2014 . purchased impaired loans are initially recorded at fair value and applicable accounting guidance prohibits the carry over or creation of valuation allowances at acquisition . because the initial fair values of these loans already reflect a credit component , additional reserves are established when performance is expected to be worse than our expectations as of the acquisition date . at december 31 , 2014 , we had established reserves of $ .9 billion for purchased impaired loans . in addition , loans ( purchased impaired and non- impaired ) acquired after january 1 , 2009 were recorded at fair value . no allowance for loan losses was carried over and no allowance was created at the date of acquisition . see note 4 purchased loans in the notes to consolidated financial statements in item 8 of this report for additional information . in determining the appropriateness of the alll , we make specific allocations to impaired loans and allocations to portfolios of commercial and consumer loans . we also allocate reserves to provide coverage for probable losses incurred in the portfolio at the balance sheet date based upon current market conditions , which may not be reflected in historical loss data . commercial lending is the largest category of credits and is sensitive to changes in assumptions and judgments underlying the determination of the alll . we have allocated approximately $ 1.6 billion , or 47% ( 47 % ) , of the alll at december 31 , 2014 to the commercial lending category . consumer lending allocations are made based on historical loss experience adjusted for recent activity . approximately $ 1.7 billion , or 53% ( 53 % ) , of the alll at december 31 , 2014 has been allocated to these consumer lending categories . in addition to the alll , we maintain an allowance for unfunded loan commitments and letters of credit . we report this allowance as a liability on our consolidated balance sheet . we maintain the allowance for unfunded loan commitments and letters of credit at a level we believe is appropriate to absorb estimated probable losses on these unfunded credit facilities . we determine this amount using estimates of the probability of the ultimate funding and losses related to those credit exposures . other than the estimation of the probability of funding , this methodology is very similar to the one we use for determining our alll . we refer you to note 1 accounting policies and note 3 asset quality in the notes to consolidated financial statements in item 8 of this report for further information on certain key asset quality indicators that we use to evaluate our portfolios and establish the allowances . table 41 : allowance for loan and lease losses . <table class='wikitable'><tr><td>1</td><td>dollars in millions</td><td>2014</td><td>2013</td></tr><tr><td>2</td><td>january 1</td><td>$ 3609</td><td>$ 4036</td></tr><tr><td>3</td><td>total net charge-offs ( a )</td><td>-531 ( 531 )</td><td>-1077 ( 1077 )</td></tr><tr><td>4</td><td>provision for credit losses</td><td>273</td><td>643</td></tr><tr><td>5</td><td>net change in allowance for unfunded loan commitments and letters of credit</td><td>-17 ( 17 )</td><td>8</td></tr><tr><td>6</td><td>other</td><td>-3 ( 3 )</td><td>-1 ( 1 )</td></tr><tr><td>7</td><td>december 31</td><td>$ 3331</td><td>$ 3609</td></tr><tr><td>8</td><td>net charge-offs to average loans ( for the year ended ) ( a )</td><td>.27% ( .27 % )</td><td>.57% ( .57 % )</td></tr><tr><td>9</td><td>allowance for loan and lease losses to total loans</td><td>1.63</td><td>1.84</td></tr><tr><td>10</td><td>commercial lending net charge-offs</td><td>$ -55 ( 55 )</td><td>$ -249 ( 249 )</td></tr><tr><td>11</td><td>consumer lending net charge-offs ( a )</td><td>-476 ( 476 )</td><td>-828 ( 828 )</td></tr><tr><td>12</td><td>total net charge-offs</td><td>$ -531 ( 531 )</td><td>$ -1077 ( 1077 )</td></tr><tr><td>13</td><td>net charge-offs to average loans ( for the year ended )</td><td>-</td><td>-</td></tr><tr><td>14</td><td>commercial lending</td><td>.04% ( .04 % )</td><td>.22% ( .22 % )</td></tr><tr><td>15</td><td>consumer lending ( a )</td><td>0.62</td><td>1.07</td></tr></table> ( a ) includes charge-offs of $ 134 million taken pursuant to alignment with interagency guidance on practices for loans and lines of credit related to consumer lending in the first quarter of 2013 . the provision for credit losses totaled $ 273 million for 2014 compared to $ 643 million for 2013 . the primary drivers of the decrease to the provision were improved overall credit quality , including lower consumer loan delinquencies , and the increasing value of residential real estate which resulted in greater expected cash flows from our purchased impaired loans . for 2014 , the provision for commercial lending credit losses increased by $ 64 million , or 178% ( 178 % ) , from 2013 primarily due to continued growth in the commercial book , paired with slowing of the reserve releases related to credit quality improvement . the provision for consumer lending credit losses decreased $ 434 million , or 71% ( 71 % ) , from 2013 . the pnc financial services group , inc . 2013 form 10-k 81 .\nQuestion: what is the impact of total net charge-offs in the balance of allowance for loan and lease losses during 2014?\nAnswer: 531.0\nQuestion: what about the balance of allowance for loan and lease losses as of december 31, 2014?\nAnswer: 3609.0\nQuestion: what proportion is related to total net charge-offs?\nAnswer: 0.14713\nQuestion: what is the ratio of provision for credit losses in 2014 to 2013?\n" }, { "role": "agent", "content": "0.42457" } ]
CONVFINQA10908	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nnotes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) sales of businesses and investments 2013 primarily includes realized gains and losses relating to the sales of businesses , cumulative translation adjustment balances from the liquidation of entities and sales of marketable securities and investments in publicly traded and privately held companies in our rabbi trusts . during 2009 , we realized a gain of $ 15.2 related to the sale of an investment in our rabbi trusts , which was partially offset by losses realized from the sale of various businesses . losses in 2007 primarily related to the sale of several businesses within draftfcb for a loss of $ 9.3 and charges at lowe of $ 7.8 as a result of the realization of cumulative translation adjustment balances from the liquidation of several businesses . vendor discounts and credit adjustments 2013 we are in the process of settling our liabilities related to vendor discounts and credits established during the restatement we presented in our 2004 annual report on form 10-k . these adjustments reflect the reversal of certain of these liabilities as a result of settlements with clients or vendors or where the statute of limitations has lapsed . litigation settlement 2013 during may 2008 , the sec concluded its investigation that began in 2002 into our financial reporting practices , resulting in a settlement charge of $ 12.0 . investment impairments 2013 in 2007 we realized an other-than-temporary charge of $ 5.8 relating to a $ 12.5 investment in auction rate securities , representing our total investment in auction rate securities . see note 12 for further information . note 5 : intangible assets goodwill goodwill is the excess purchase price remaining from an acquisition after an allocation of purchase price has been made to identifiable assets acquired and liabilities assumed based on estimated fair values . the changes in the carrying value of goodwill for our segments , integrated agency networks ( 201cian 201d ) and constituency management group ( 201ccmg 201d ) , for the years ended december 31 , 2009 and 2008 are listed below. . <table class='wikitable'><tr><td>1</td><td>-</td><td>ian</td><td>cmg</td><td>total 1</td></tr><tr><td>2</td><td>balance as of december 31 2007</td><td>$ 2789.7</td><td>$ 441.9</td><td>$ 3231.6</td></tr><tr><td>3</td><td>current year acquisitions</td><td>99.5</td><td>1.8</td><td>101.3</td></tr><tr><td>4</td><td>contingent and deferred payments for prior acquisitions</td><td>28.9</td><td>1.1</td><td>30.0</td></tr><tr><td>5</td><td>other ( primarily foreign currency translation )</td><td>-128.1 ( 128.1 )</td><td>-13.9 ( 13.9 )</td><td>-142.0 ( 142.0 )</td></tr><tr><td>6</td><td>balance as of december 31 2008</td><td>$ 2790.0</td><td>$ 430.9</td><td>$ 3220.9</td></tr><tr><td>7</td><td>current year acquisitions2</td><td>5.2</td><td>2014</td><td>5.2</td></tr><tr><td>8</td><td>contingent and deferred payments for prior acquisitions</td><td>14.2</td><td>2014</td><td>14.2</td></tr><tr><td>9</td><td>other ( primarily foreign currency translation )</td><td>76.2</td><td>4.5</td><td>80.7</td></tr><tr><td>10</td><td>balance as of december 31 2009</td><td>$ 2885.6</td><td>$ 435.4</td><td>$ 3321.0</td></tr></table> 1 for all periods presented we have not recorded a goodwill impairment charge . 2 for acquisitions completed after january 1 , 2009 , amount includes contingent and deferred payments , which are recorded at fair value on the acquisition date . see note 6 for further information . see note 1 for further information regarding our annual impairment methodology . other intangible assets included in other intangible assets are assets with indefinite lives not subject to amortization and assets with definite lives subject to amortization . other intangible assets primarily include customer lists and trade names . intangible assets with definitive lives subject to amortization are amortized on a straight-line basis with estimated useful lives generally between 7 and 15 years . amortization expense for other intangible assets for the years ended december 31 , 2009 , 2008 and 2007 was $ 19.3 , $ 14.4 and $ 8.5 , respectively . the following table provides a summary of other intangible assets , which are included in other assets on our consolidated balance sheets. .\nQuestion: what was the total amortization expense for other intangible assets in 2008 and 2009?\nAnswer: 33.7\nQuestion: and including the value for 2007?\n" }, { "role": "agent", "content": "42.2" } ]
CONVFINQA5473	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\ntable of contents valero energy corporation and subsidiaries notes to consolidated financial statements ( continued ) commodity price risk we are exposed to market risks related to the volatility in the price of crude oil , refined products ( primarily gasoline and distillate ) , grain ( primarily corn ) , and natural gas used in our operations . to reduce the impact of price volatility on our results of operations and cash flows , we use commodity derivative instruments , including futures , swaps , and options . we use the futures markets for the available liquidity , which provides greater flexibility in transacting our hedging and trading operations . we use swaps primarily to manage our price exposure . our positions in commodity derivative instruments are monitored and managed on a daily basis by a risk control group to ensure compliance with our stated risk management policy that has been approved by our board of directors . for risk management purposes , we use fair value hedges , cash flow hedges , and economic hedges . in addition to the use of derivative instruments to manage commodity price risk , we also enter into certain commodity derivative instruments for trading purposes . our objective for entering into each type of hedge or trading derivative is described below . fair value hedges fair value hedges are used to hedge price volatility in certain refining inventories and firm commitments to purchase inventories . the level of activity for our fair value hedges is based on the level of our operating inventories , and generally represents the amount by which our inventories differ from our previous year-end lifo inventory levels . as of december 31 , 2011 , we had the following outstanding commodity derivative instruments that were entered into to hedge crude oil and refined product inventories and commodity derivative instruments related to the physical purchase of crude oil and refined products at a fixed price . the information presents the notional volume of outstanding contracts by type of instrument and year of maturity ( volumes in thousands of barrels ) . notional contract volumes by year of maturity derivative instrument 2012 . <table class='wikitable'><tr><td>1</td><td>derivative instrument</td><td>notional contract volumes by year of maturity 2012</td></tr><tr><td>2</td><td>crude oil and refined products:</td><td>-</td></tr><tr><td>3</td><td>futures 2013 long</td><td>15398</td></tr><tr><td>4</td><td>futures 2013 short</td><td>35708</td></tr><tr><td>5</td><td>physical contracts 2013 long</td><td>20310</td></tr></table> .\nQuestion: what were the value of futures 2013 long?\nAnswer: 15398.0\nQuestion: what were the value of futures 2013 short?\nAnswer: 35708.0\nQuestion: what is the sum?\nAnswer: 51106.0\nQuestion: what was the value of physical contracts 2013 long?\n" }, { "role": "agent", "content": "20310.0" } ]
CONVFINQA3281	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nnote 12 derivative instruments and fair value measurements the company is exposed to certain market risks such as changes in interest rates , foreign currency exchange rates , and commodity prices , which exist as a part of its ongoing business operations . management uses derivative financial and commodity instruments , including futures , options , and swaps , where appropriate , to manage these risks . instruments used as hedges must be effective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the contract . the company designates derivatives as cash flow hedges , fair value hedges , net investment hedges , and uses other contracts to reduce volatility in interest rates , foreign currency and commodities . as a matter of policy , the company does not engage in trading or speculative hedging transactions . total notional amounts of the company 2019s derivative instruments as of december 29 , 2012 and december 31 , 2011 were as follows: . <table class='wikitable'><tr><td>1</td><td>( millions )</td><td>2012</td><td>2011</td></tr><tr><td>2</td><td>foreign currency exchange contracts</td><td>$ 570</td><td>$ 1265</td></tr><tr><td>3</td><td>interest rate contracts</td><td>2150</td><td>600</td></tr><tr><td>4</td><td>commodity contracts</td><td>136</td><td>175</td></tr><tr><td>5</td><td>total</td><td>$ 2856</td><td>$ 2040</td></tr></table> following is a description of each category in the fair value hierarchy and the financial assets and liabilities of the company that were included in each category at december 29 , 2012 and december 31 , 2011 , measured on a recurring basis . level 1 2014 financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market . for the company , level 1 financial assets and liabilities consist primarily of commodity derivative contracts . level 2 2014 financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability . for the company , level 2 financial assets and liabilities consist of interest rate swaps and over-the-counter commodity and currency contracts . the company 2019s calculation of the fair value of interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve . over-the-counter commodity derivatives are valued using an income approach based on the commodity index prices less the contract rate multiplied by the notional amount . foreign currency contracts are valued using an income approach based on forward rates less the contract rate multiplied by the notional amount . the company 2019s calculation of the fair value of level 2 financial assets and liabilities takes into consideration the risk of nonperformance , including counterparty credit risk . level 3 2014 financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement . these inputs reflect management 2019s own assumptions about the assumptions a market participant would use in pricing the asset or liability . the company did not have any level 3 financial assets or liabilities as of december 29 , 2012 or december 31 , 2011 . the following table presents assets and liabilities that were measured at fair value in the consolidated balance sheet on a recurring basis as of december 29 , 2012 and december 31 , 2011 : derivatives designated as hedging instruments : 2012 2011 ( millions ) level 1 level 2 total level 1 level 2 total assets : foreign currency exchange contracts : other current assets $ 2014 $ 4 $ 4 $ 2014 $ 11 $ 11 interest rate contracts ( a ) : other assets 2014 64 64 2014 23 23 commodity contracts : other current assets 2014 2014 2014 2 2014 2 total assets $ 2014 $ 68 $ 68 $ 2 $ 34 $ 36 liabilities : foreign currency exchange contracts : other current liabilities $ 2014 $ ( 3 ) $ ( 3 ) $ 2014 $ ( 18 ) $ ( 18 ) commodity contracts : other current liabilities 2014 ( 11 ) ( 11 ) ( 4 ) ( 12 ) ( 16 ) other liabilities 2014 ( 27 ) ( 27 ) 2014 ( 34 ) ( 34 ) total liabilities $ 2014 $ ( 41 ) $ ( 41 ) $ ( 4 ) $ ( 64 ) $ ( 68 ) ( a ) the fair value of the related hedged portion of the company 2019s long-term debt , a level 2 liability , was $ 2.3 billion as of december 29 , 2012 and $ 626 million as of december 31 , derivatives not designated as hedging instruments : 2012 2011 ( millions ) level 1 level 2 total level 1 level 2 total assets : commodity contracts : other current assets $ 5 $ 2014 $ 5 $ 2014 $ 2014 $ 2014 total assets $ 5 $ 2014 $ 5 $ 2014 $ 2014 $ 2014 liabilities : commodity contracts : other current liabilities $ ( 3 ) $ 2014 $ ( 3 ) $ 2014 $ 2014 $ 2014 total liabilities $ ( 3 ) $ 2014 $ ( 3 ) $ 2014 $ 2014 $ 2014 .\nQuestion: what is the balance of the derivative instruments in 2012?\nAnswer: 2856.0\nQuestion: what about in 2011?\nAnswer: 2040.0\nQuestion: what net change does this represent?\n" }, { "role": "agent", "content": "816.0" } ]
CONVFINQA10880	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\namerican tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) company is currently unable to estimate the impact of the amount of such changes , if any , to previously recorded uncertain tax positions . a reconciliation of the beginning and ending amount of unrecognized tax benefits for the year ending december 31 , 2007 is as follows ( in thousands ) : . <table class='wikitable'><tr><td>1</td><td>balance at january 1 2007</td><td>$ 183953</td></tr><tr><td>2</td><td>additions based on tax positions related to the current year</td><td>2598</td></tr><tr><td>3</td><td>additions for tax positions of prior years</td><td>5412</td></tr><tr><td>4</td><td>reductions for tax positions of prior years</td><td>-120016 ( 120016 )</td></tr><tr><td>5</td><td>cash advance in connection with proposed settlement</td><td>-6682 ( 6682 )</td></tr><tr><td>6</td><td>settlements with taxing authorities</td><td>-5372 ( 5372 )</td></tr><tr><td>7</td><td>reductions as a result of the lapse of statute of limitations</td><td>-669 ( 669 )</td></tr><tr><td>8</td><td>balance as of december 31 2007</td><td>$ 59224</td></tr></table> during the year ended december 31 , 2007 , the company recorded penalties and tax-related interest income of $ 2.5 million and interest income from tax refunds of $ 1.5 million for the year ended december 31 , 2007 . as of december 31 , 2007 and january 1 , 2007 , the total unrecognized tax benefits included in other long-term liabilities in the consolidated balance sheets was $ 29.6 million and $ 34.3 million , respectively . as of december 31 , 2007 and january 1 , 2007 , the total amount of accrued income tax-related interest and penalties included in other long-term liabilities in the consolidated balance sheets was $ 30.7 million and $ 33.2 million , respectively . in the fourth quarter of 2007 , the company entered into a tax amnesty program with the mexican tax authority . as of december 31 , 2007 , the company had met all of the administrative requirements of the program , which enabled the company to recognize certain tax benefits . this was confirmed by the mexican tax authority on february 5 , 2008 . these benefits include a reduction of uncertain tax benefits of $ 5.4 million along with penalties and interest of $ 12.5 million related to 2002 , all of which reduced income tax expense . in connection with the above program , the company paid $ 6.7 million to the mexican tax authority as a settlement offer for other uncertain tax positions related to 2003 and 2004 . this offer is currently under review by the mexican tax authority ; the company cannot yet determine the specific timing or the amount of any potential settlement . during 2007 , the statute of limitations on certain unrecognized tax benefits lapsed , which resulted in a $ 0.7 million decrease in the liability for uncertain tax benefits , all of which reduced the income tax provision . the company files numerous consolidated and separate income tax returns , including u.s . federal and state tax returns and foreign tax returns in mexico and brazil . as a result of the company 2019s ability to carry forward federal and state net operating losses , the applicable tax years remain open to examination until three years after the applicable loss carryforwards have been used or expired . however , the company has completed u.s . federal income tax examinations for tax years up to and including 2002 . the company is currently undergoing u.s . federal income tax examinations for tax years 2004 and 2005 . additionally , it is subject to examinations in various u.s . state jurisdictions for certain tax years , and is under examination in brazil for the 2001 through 2006 tax years and mexico for the 2002 tax year . sfas no . 109 , 201caccounting for income taxes , 201d requires that companies record a valuation allowance when it is 201cmore likely than not that some portion or all of the deferred tax assets will not be realized . 201d at december 31 , 2007 , the company has provided a valuation allowance of approximately $ 88.2 million , including approximately .\nQuestion: what was the change in the total amount of accrued income tax-related interest and penalties included in other long-term liabilities during 2007?\nAnswer: -2.5\nQuestion: and how much does that change represent in relation to that total amount in the beginning of the year, in percentage?\n" }, { "role": "agent", "content": "-0.0753" } ]
CONVFINQA9251	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\ntable of contents ( 4 ) the decline in cash flows was driven by the timing of inventory purchases at the end of 2014 versus 2013 . in order to manage our working capital and operating cash needs , we monitor our cash conversion cycle , defined as days of sales outstanding in accounts receivable plus days of supply in inventory minus days of purchases outstanding in accounts payable , based on a rolling three-month average . components of our cash conversion cycle are as follows: . <table class='wikitable'><tr><td>1</td><td>( in days )</td><td>december 31 , 2015</td><td>december 31 , 2014</td><td>december 31 , 2013</td></tr><tr><td>2</td><td>days of sales outstanding ( dso ) ( 1 )</td><td>48</td><td>42</td><td>44</td></tr><tr><td>3</td><td>days of supply in inventory ( dio ) ( 2 )</td><td>13</td><td>13</td><td>14</td></tr><tr><td>4</td><td>days of purchases outstanding ( dpo ) ( 3 )</td><td>-40 ( 40 )</td><td>-34 ( 34 )</td><td>-35 ( 35 )</td></tr><tr><td>5</td><td>cash conversion cycle</td><td>21</td><td>21</td><td>23</td></tr></table> ( 1 ) represents the rolling three-month average of the balance of trade accounts receivable , net at the end of the period divided by average daily net sales for the same three-month period . also incorporates components of other miscellaneous receivables . ( 2 ) represents the rolling three-month average of the balance of merchandise inventory at the end of the period divided by average daily cost of goods sold for the same three-month period . ( 3 ) represents the rolling three-month average of the combined balance of accounts payable-trade , excluding cash overdrafts , and accounts payable-inventory financing at the end of the period divided by average daily cost of goods sold for the same three-month period . the cash conversion cycle remained at 21 days at december 31 , 2015 and december 31 , 2014 . the increase in dso was primarily driven by a higher accounts receivable balance at december 31 , 2015 driven by higher public segment sales where customers generally take longer to pay than customers in our corporate segment , slower government payments in certain states due to budget issues and an increase in net sales and related accounts receivable for third-party services such as software assurance and warranties . these services have an unfavorable impact on dso as the receivable is recognized on the balance sheet on a gross basis while the corresponding sales amount in the statement of operations is recorded on a net basis . these services have a favorable impact on dpo as the payable is recognized on the balance sheet without a corresponding cost of sale in the statement of operations because the cost paid to the vendor or third-party service provider is recorded as a reduction to net sales . in addition to the impact of these services on dpo , dpo also increased due to the mix of payables with certain vendors that have longer payment terms . the cash conversion cycle decreased to 21 days at december 31 , 2014 compared to 23 days at december 31 , 2013 , primarily driven by improvement in dso . the decline in dso was primarily driven by improved collections and early payments from certain customers . additionally , the timing of inventory receipts at the end of 2014 had a favorable impact on dio and an unfavorable impact on dpo . investing activities net cash used in investing activities increased $ 189.6 million in 2015 compared to 2014 . the increase was primarily due to the completion of the acquisition of kelway by purchasing the remaining 65% ( 65 % ) of its outstanding common stock on august 1 , 2015 . additionally , capital expenditures increased $ 35.1 million to $ 90.1 million from $ 55.0 million for 2015 and 2014 , respectively , primarily for our new office location and an increase in spending related to improvements to our information technology systems . net cash used in investing activities increased $ 117.7 million in 2014 compared to 2013 . we paid $ 86.8 million in the fourth quarter of 2014 to acquire a 35% ( 35 % ) non-controlling interest in kelway . additionally , capital expenditures increased $ 7.9 million to $ 55.0 million from $ 47.1 million in 2014 and 2013 , respectively , primarily for improvements to our information technology systems during both years . financing activities net cash used in financing activities increased $ 114.5 million in 2015 compared to 2014 . the increase was primarily driven by share repurchases during the year ended december 31 , 2015 which resulted in an increase in cash used for financing activities of $ 241.3 million . for more information on our share repurchase program , see item 5 , 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities . 201d the increase was partially offset by the changes in accounts payable-inventory financing , which resulted in an increase in cash provided for financing activities of $ 20.4 million , and the net impact of our debt transactions which resulted in cash outflows of $ 7.1 million and $ 145.9 million during the years .\nQuestion: what is the days of sales outstanding in 2015?\nAnswer: 48.0\nQuestion: what about in 2014?\nAnswer: 42.0\nQuestion: what is the net change?\n" }, { "role": "agent", "content": "6.0" } ]
CONVFINQA9075	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nstock performance graph the following line-graph presentation compares our cumulative shareholder returns with the standard & poor 2019s information technology index and the standard & poor 2019s 500 stock index for the past five years . the line graph assumes the investment of $ 100 in our common stock , the standard & poor 2019s information technology index , and the standard & poor 2019s 500 stock index on may 31 , 2002 and assumes reinvestment of all dividends . comparison of 5 year cumulative total return* among global payments inc. , the s&p 500 index and the s&p information technology index 5/02 5/03 5/04 5/05 5/06 5/07 global payments inc . s&p 500 s&p information technology * $ 100 invested on 5/31/02 in stock or index-including reinvestment of dividends . fiscal year ending may 31 . global payments s&p 500 information technology . <table class='wikitable'><tr><td>1</td><td>-</td><td>global payments</td><td>s&p 500</td><td>s&p information technology</td></tr><tr><td>2</td><td>may 31 2002</td><td>$ 100.00</td><td>$ 100.00</td><td>$ 100.00</td></tr><tr><td>3</td><td>may 31 2003</td><td>94.20</td><td>91.94</td><td>94.48</td></tr><tr><td>4</td><td>may 31 2004</td><td>129.77</td><td>108.79</td><td>115.24</td></tr><tr><td>5</td><td>may 31 2005</td><td>193.30</td><td>117.75</td><td>116.29</td></tr><tr><td>6</td><td>may 31 2006</td><td>260.35</td><td>127.92</td><td>117.14</td></tr><tr><td>7</td><td>may 31 2007</td><td>224.24</td><td>157.08</td><td>144.11</td></tr></table> issuer purchases of equity securities on april 5 , 2007 , our board of directors authorized repurchases of our common stock in an amount up to $ 100 million . the board has authorized us to purchase shares from time to time as market conditions permit . there is no expiration date with respect to this authorization . no amounts have been repurchased during the fiscal year ended may 31 , 2007. .\nQuestion: what is the net change in value of global payments from 2003 to 2004?\n" }, { "role": "agent", "content": "35.57" } ]
CONVFINQA1542	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\n2022 net derivative losses of $ 13 million . review by segment general we serve clients through the following segments : 2022 risk solutions acts as an advisor and insurance and reinsurance broker , helping clients manage their risks , via consultation , as well as negotiation and placement of insurance risk with insurance carriers through our global distribution network . 2022 hr solutions partners with organizations to solve their most complex benefits , talent and related financial challenges , and improve business performance by designing , implementing , communicating and administering a wide range of human capital , retirement , investment management , health care , compensation and talent management strategies . risk solutions . <table class='wikitable'><tr><td>1</td><td>years ended december 31,</td><td>2011</td><td>2010</td><td>2009</td></tr><tr><td>2</td><td>revenue</td><td>$ 6817</td><td>$ 6423</td><td>$ 6305</td></tr><tr><td>3</td><td>operating income</td><td>1314</td><td>1194</td><td>900</td></tr><tr><td>4</td><td>operating margin</td><td>19.3% ( 19.3 % )</td><td>18.6% ( 18.6 % )</td><td>14.3% ( 14.3 % )</td></tr></table> the demand for property and casualty insurance generally rises as the overall level of economic activity increases and generally falls as such activity decreases , affecting both the commissions and fees generated by our brokerage business . the economic activity that impacts property and casualty insurance is described as exposure units , and is closely correlated with employment levels , corporate revenue and asset values . during 2011 we began to see some improvement in pricing ; however , we would still consider this to be a 2018 2018soft market , 2019 2019 which began in 2007 . in a soft market , premium rates flatten or decrease , along with commission revenues , due to increased competition for market share among insurance carriers or increased underwriting capacity . changes in premiums have a direct and potentially material impact on the insurance brokerage industry , as commission revenues are generally based on a percentage of the premiums paid by insureds . in 2011 , pricing showed signs of stabilization and improvement in both our retail and reinsurance brokerage product lines and we expect this trend to slowly continue into 2012 . additionally , beginning in late 2008 and continuing through 2011 , we faced difficult conditions as a result of unprecedented disruptions in the global economy , the repricing of credit risk and the deterioration of the financial markets . weak global economic conditions have reduced our customers 2019 demand for our brokerage products , which have had a negative impact on our operational results . risk solutions generated approximately 60% ( 60 % ) of our consolidated total revenues in 2011 . revenues are generated primarily through fees paid by clients , commissions and fees paid by insurance and reinsurance companies , and investment income on funds held on behalf of clients . our revenues vary from quarter to quarter throughout the year as a result of the timing of our clients 2019 policy renewals , the net effect of new and lost business , the timing of services provided to our clients , and the income we earn on investments , which is heavily influenced by short-term interest rates . we operate in a highly competitive industry and compete with many retail insurance brokerage and agency firms , as well as with individual brokers , agents , and direct writers of insurance coverage . specifically , we address the highly specialized product development and risk management needs of commercial enterprises , professional groups , insurance companies , governments , health care providers , and non-profit groups , among others ; provide affinity products for professional liability , life , disability .\nQuestion: what was the operating income in 2011?\nAnswer: 1314.0\nQuestion: and in 2010?\n" }, { "role": "agent", "content": "1194.0" } ]
CONVFINQA3669	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\n2016 compared with 2015 net gains on investments of $ 57 million in 2016 decreased $ 52 million from 2015 due to lower net gains in 2016 . net gains on investments in 2015 included a $ 40 million gain related to the bkca acquisition and a $ 35 million unrealized gain on a private equity investment . interest and dividend income increased $ 14 million from 2015 primarily due to higher dividend income in 2016 . 2015 compared with 2014 net gains on investments of $ 109 million in 2015 decreased $ 45 million from 2014 due to lower net gains in 2015 . net gains on investments in 2015 included a $ 40 million gain related to the bkca acquisition and a $ 35 million unrealized gain on a private equity investment . net gains on investments in 2014 included the positive impact of the monetization of a nonstrategic , opportunistic private equity investment . interest expense decreased $ 28 million from 2014 primarily due to repayments of long-term borrowings in the fourth quarter of 2014 . income tax expense . <table class='wikitable'><tr><td>1</td><td>( in millions )</td><td>gaap 2016</td><td>gaap 2015</td><td>gaap 2014</td><td>gaap 2016</td><td>gaap 2015</td><td>2014</td></tr><tr><td>2</td><td>operating income ( 1 )</td><td>$ 4570</td><td>$ 4664</td><td>$ 4474</td><td>$ 4674</td><td>$ 4695</td><td>$ 4563</td></tr><tr><td>3</td><td>total nonoperating income ( expense ) ( 1 ) ( 2 )</td><td>-108 ( 108 )</td><td>-69 ( 69 )</td><td>-49 ( 49 )</td><td>-108 ( 108 )</td><td>-70 ( 70 )</td><td>-56 ( 56 )</td></tr><tr><td>4</td><td>income before income taxes ( 2 )</td><td>$ 4462</td><td>$ 4595</td><td>$ 4425</td><td>$ 4566</td><td>$ 4625</td><td>$ 4507</td></tr><tr><td>5</td><td>income tax expense</td><td>$ 1290</td><td>$ 1250</td><td>$ 1131</td><td>$ 1352</td><td>$ 1312</td><td>$ 1197</td></tr><tr><td>6</td><td>effective tax rate</td><td>28.9% ( 28.9 % )</td><td>27.2% ( 27.2 % )</td><td>25.6% ( 25.6 % )</td><td>29.6% ( 29.6 % )</td><td>28.4% ( 28.4 % )</td><td>26.6% ( 26.6 % )</td></tr></table> ( 1 ) see non-gaap financial measures for further information on and reconciliation of as adjusted items . ( 2 ) net of net income ( loss ) attributable to nci . the company 2019s tax rate is affected by tax rates in foreign jurisdictions and the relative amount of income earned in those jurisdictions , which the company expects to be fairly consistent in the near term . the significant foreign jurisdictions that have lower statutory tax rates than the u.s . federal statutory rate of 35% ( 35 % ) include the united kingdom , channel islands , ireland and canada . u.s . income taxes were not provided for certain undistributed foreign earnings intended to be indefinitely reinvested outside the united states . 2016 . income tax expense ( gaap ) reflected : 2022 a net noncash benefit of $ 30 million , primarily associated with the revaluation of certain deferred income tax liabilities ; and 2022 a benefit from $ 65 million of nonrecurring items , including the resolution of certain outstanding tax matters . the as adjusted effective tax rate of 29.6% ( 29.6 % ) for 2016 excluded the net noncash benefit of $ 30 million mentioned above , as it will not have a cash flow impact and to ensure comparability among periods presented . 2015 . income tax expense ( gaap ) reflected : 2022 a net noncash benefit of $ 54 million , primarily associated with the revaluation of certain deferred income tax liabilities ; and 2022 a benefit from $ 75 million of nonrecurring items , primarily due to the realization of losses from changes in the company 2019s organizational tax structure and the resolution of certain outstanding tax matters . the as adjusted effective tax rate of 28.4% ( 28.4 % ) for 2015 excluded the net noncash benefit of $ 54 million mentioned above , as it will not have a cash flow impact and to ensure comparability among periods presented . 2014 . income tax expense ( gaap ) reflected : 2022 a $ 94 million tax benefit , primarily due to the resolution of certain outstanding tax matters related to the acquisition of bgi , including the previously mentioned $ 50 million tax benefit ( see executive summary for more information ) ; 2022 a $ 73 million net tax benefit related to several favorable nonrecurring items ; and 2022 a net noncash benefit of $ 9 million associated with the revaluation of deferred income tax liabilities . the as adjusted effective tax rate of 26.6% ( 26.6 % ) for 2014 excluded the $ 9 million net noncash benefit as it will not have a cash flow impact and to ensure comparability among periods presented and the $ 50 million tax benefit mentioned above . the $ 50 million general and administrative expense and $ 50 million tax benefit have been excluded from as adjusted results as there is no impact on blackrock 2019s book value . balance sheet overview as adjusted balance sheet the following table presents a reconciliation of the consolidated statement of financial condition presented on a gaap basis to the consolidated statement of financial condition , excluding the impact of separate account assets and separate account collateral held under securities lending agreements ( directly related to lending separate account securities ) and separate account liabilities and separate account collateral liabilities under securities lending agreements and consolidated sponsored investment funds , including consolidated vies . the company presents the as adjusted balance sheet as additional information to enable investors to exclude certain .\nQuestion: what is the net change in operating income from 2014 to 2015?\nAnswer: 190.0\nQuestion: what was operating income in 2014?\nAnswer: 4474.0\nQuestion: what is the net change over that value?\n" }, { "role": "agent", "content": "0.04247" } ]
CONVFINQA8178	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nstrategy our mission is to achieve sustainable revenue and earnings growth through providing superior solutions to our customers . our strategy to achieve this has been and will continue to be built on the following pillars : 2022 expand client relationships 2014 the overall market we serve continues to gravitate beyond single-product purchases to multi-solution partnerships . as the market dynamics shift , we expect our clients to rely more on our multidimensional service offerings . our leveraged solutions and processing expertise can drive meaningful value and cost savings to our clients through more efficient operating processes , improved service quality and speed for our clients' customers . 2022 buy , build or partner to add solutions to cross-sell 2014 we continue to invest in growth through internal product development , as well as through product-focused or market-centric acquisitions that complement and extend our existing capabilities and provide us with additional solutions to cross-sell . we also partner from time to time with other entities to provide comprehensive offerings to our customers . by investing in solution innovation and integration , we continue to expand our value proposition to clients . 2022 support our clients through market transformation 2014 the changing market dynamics are transforming the way our clients operate , which is driving incremental demand for our leveraged solutions , consulting expertise , and services around intellectual property . our depth of services capabilities enables us to become involved earlier in the planning and design process to assist our clients as they manage through these changes . 2022 continually improve to drive margin expansion 2014 we strive to optimize our performance through investments in infrastructure enhancements and other measures that are designed to drive organic revenue growth and margin expansion . 2022 build global diversification 2014 we continue to deploy resources in emerging global markets where we expect to achieve meaningful scale . revenues by segment the table below summarizes the revenues by our reporting segments ( in millions ) : . <table class='wikitable'><tr><td>1</td><td>-</td><td>2012</td><td>2011</td><td>2010</td></tr><tr><td>2</td><td>fsg</td><td>$ 2246.4</td><td>$ 2076.8</td><td>$ 1890.8</td></tr><tr><td>3</td><td>psg</td><td>2380.6</td><td>2372.1</td><td>2354.2</td></tr><tr><td>4</td><td>isg</td><td>1180.5</td><td>1177.6</td><td>917.0</td></tr><tr><td>5</td><td>corporate & other</td><td>0.1</td><td>-0.9 ( 0.9 )</td><td>-16.4 ( 16.4 )</td></tr><tr><td>6</td><td>total consolidated revenues</td><td>$ 5807.6</td><td>$ 5625.6</td><td>$ 5145.6</td></tr></table> financial solutions group the focus of fsg is to provide the most comprehensive software and services for the core processing , customer channel , treasury services , cash management , wealth management and capital market operations of our financial institution customers in north america . we service the core and related ancillary processing needs of north american banks , credit unions , automotive financial companies , commercial lenders , and independent community and savings institutions . fis offers a broad selection of in-house and outsourced solutions to banking customers that span the range of asset sizes . fsg customers are typically committed under multi-year contracts that provide a stable , recurring revenue base and opportunities for cross-selling additional financial and payments offerings . we employ several business models to provide our solutions to our customers . we typically deliver the highest value to our customers when we combine our software applications and deliver them in one of several types of outsourcing arrangements , such as an application service provider , facilities management processing or an application management arrangement . we are also able to deliver individual applications through a software licensing arrangement . based upon our expertise gained through the foregoing arrangements , some clients also retain us to manage their it operations without using any of our proprietary software . our solutions in this segment include: .\nQuestion: what is the net change in the total consolidated revenues from 2011 to 2012?\n" }, { "role": "agent", "content": "182.0" } ]
CONVFINQA7137	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\ncapital resources and liquidity capital resources overview capital is generally generated via earnings from operating businesses . this is augmented through issuance of common stock , convertible preferred stock , preferred stock , subordinated debt , and equity issued through awards under employee benefit plans . capital is used primarily to support assets in the company 2019s businesses and to absorb unexpected market , credit or operational losses . the company 2019s uses of capital , particularly to pay dividends and repurchase common stock , became severely restricted during the latter half of 2008 . see 201cthe company , 201d 201cmanagement 2019s discussion and analysis 2013 events in 2008 , 201d 201ctarp and other regulatory programs , 201d 201crisk factors 201d and 201ccommon equity 201d on pages 2 , 9 , 44 , 47 and 95 , respectively . citigroup 2019s capital management framework is designed to ensure that citigroup and its principal subsidiaries maintain sufficient capital consistent with the company 2019s risk profile , all applicable regulatory standards and guidelines , and external rating agency considerations . the capital management process is centrally overseen by senior management and is reviewed at the consolidated , legal entity , and country level . senior management oversees the capital management process of citigroup and its principal subsidiaries mainly through citigroup 2019s finance and asset and liability committee ( finalco ) . the committee is composed of the senior-most management of citigroup for the purpose of engaging management in decision-making and related discussions on capital and liquidity items . among other things , the committee 2019s responsibilities include : determining the financial structure of citigroup and its principal subsidiaries ; ensuring that citigroup and its regulated entities are adequately capitalized ; determining appropriate asset levels and return hurdles for citigroup and individual businesses ; reviewing the funding and capital markets plan for citigroup ; and monitoring interest-rate risk , corporate and bank liquidity , the impact of currency translation on non-u.s . earnings and capital . the finalco has established capital targets for citigroup and for significant subsidiaries . at december 31 , 2008 , these targets exceeded the regulatory standards . common and preferred stock issuances as discussed under 201cevents in 2008 201d on page 9 , during 2008 , the company issued $ 45 billion in preferred stock and warrants under tarp , $ 12.5 billion of convertible preferred stock in a private offering , $ 11.7 billion of non-convertible preferred stock in public offerings , $ 3.2 billion of convertible preferred stock in public offerings , and $ 4.9 billion of common stock in public offerings . on january 23 , 2009 , pursuant to our prior agreement with the purchasers of the $ 12.5 billion convertible preferred stock issued in the private offering , the conversion price was reset from $ 31.62 per share to $ 26.35 per share . the reset will result in citigroup 2019s issuing approximately 79 million additional common shares if converted . there will be no impact to net income , total stockholders 2019 equity or capital ratios due to the reset . however , the reset will result in a reclassification from retained earnings to additional paid-in capital of $ 1.2 billion to reflect the benefit of the reset to the preferred stockholders . capital ratios citigroup is subject to risk-based capital ratio guidelines issued by the federal reserve board ( frb ) . capital adequacy is measured via two risk- based ratios , tier 1 and total capital ( tier 1 + tier 2 capital ) . tier 1 capital is considered core capital while total capital also includes other items such as subordinated debt and loan loss reserves . both measures of capital are stated as a percentage of risk-weighted assets . risk-weighted assets are measured primarily on their perceived credit risk and include certain off-balance-sheet exposures , such as unfunded loan commitments and letters of credit , and the notional amounts of derivative and foreign- exchange contracts . citigroup is also subject to the leverage ratio requirement , a non-risk-based asset ratio , which is defined as tier 1 capital as a percentage of adjusted average assets . to be 201cwell capitalized 201d under federal bank regulatory agency definitions , a bank holding company must have a tier 1 capital ratio of at least 6% ( 6 % ) , a total capital ratio of at least 10% ( 10 % ) , and a leverage ratio of at least 3% ( 3 % ) , and not be subject to an frb directive to maintain higher capital levels . as noted in the following table , citigroup maintained a 201cwell capitalized 201d position during both 2008 and 2007 . citigroup regulatory capital ratios at year end 2008 2007 . <table class='wikitable'><tr><td>1</td><td>at year end</td><td>2008</td><td>2007</td></tr><tr><td>2</td><td>tier 1 capital</td><td>11.92% ( 11.92 % )</td><td>7.12% ( 7.12 % )</td></tr><tr><td>3</td><td>total capital ( tier 1 and tier 2 )</td><td>15.70</td><td>10.70</td></tr><tr><td>4</td><td>leverage ( 1 )</td><td>6.08</td><td>4.03</td></tr></table> leverage ( 1 ) 6.08 4.03 ( 1 ) tier 1 capital divided by adjusted average assets . events occurring during 2008 , including the transactions with the u.s . government , affected citigroup 2019s capital ratios , and any additional u.s . government financial involvement with the company could further impact the company 2019s capital ratios . in addition , future operations will affect capital levels , and changes that the fasb has proposed regarding off-balance-sheet assets , consolidation and sale treatment could also have an impact on capital ratios . see also note 23 to the consolidated financial statements on page 175 , including 201cfunding liquidity facilities and subordinate interests . 201d .\nQuestion: what was the conversion price before the reset of convertible preferred stock issued in the private offering?\nAnswer: 31.62\nQuestion: and what became the conversion price with that reset?\nAnswer: 26.35\nQuestion: what, then, was the change in the conversion price because of that reset?\n" }, { "role": "agent", "content": "5.27" } ]
CONVFINQA1324	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\ndevon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) proved undeveloped reserves the following table presents the changes in devon 2019s total proved undeveloped reserves during 2013 ( in mmboe ) . . <table class='wikitable'><tr><td>1</td><td>-</td><td>u.s .</td><td>canada</td><td>total</td></tr><tr><td>2</td><td>proved undeveloped reserves as of december 31 2012</td><td>407</td><td>433</td><td>840</td></tr><tr><td>3</td><td>extensions and discoveries</td><td>57</td><td>38</td><td>95</td></tr><tr><td>4</td><td>revisions due to prices</td><td>1</td><td>-10 ( 10 )</td><td>-9 ( 9 )</td></tr><tr><td>5</td><td>revisions other than price</td><td>-91 ( 91 )</td><td>13</td><td>-78 ( 78 )</td></tr><tr><td>6</td><td>conversion to proved developed reserves</td><td>-116 ( 116 )</td><td>-31 ( 31 )</td><td>-147 ( 147 )</td></tr><tr><td>7</td><td>proved undeveloped reserves as of december 31 2013</td><td>258</td><td>443</td><td>701</td></tr></table> at december 31 , 2013 , devon had 701 mmboe of proved undeveloped reserves . this represents a 17 percent decrease as compared to 2012 and represents 24 percent of total proved reserves . drilling and development activities increased devon 2019s proved undeveloped reserves 95 mmboe and resulted in the conversion of 147 mmboe , or 18 percent , of the 2012 proved undeveloped reserves to proved developed reserves . costs incurred related to the development and conversion of devon 2019s proved undeveloped reserves were $ 1.9 billion for 2013 . additionally , revisions other than price decreased devon 2019s proved undeveloped reserves 78 mmboe primarily due to evaluations of certain u.s . onshore dry-gas areas , which devon does not expect to develop in the next five years . the largest revisions relate to the dry-gas areas in the cana-woodford shale in western oklahoma , carthage in east texas and the barnett shale in north texas . a significant amount of devon 2019s proved undeveloped reserves at the end of 2013 related to its jackfish operations . at december 31 , 2013 and 2012 , devon 2019s jackfish proved undeveloped reserves were 441 mmboe and 429 mmboe , respectively . development schedules for the jackfish reserves are primarily controlled by the need to keep the processing plants at their 35000 barrel daily facility capacity . processing plant capacity is controlled by factors such as total steam processing capacity , steam-oil ratios and air quality discharge permits . as a result , these reserves are classified as proved undeveloped for more than five years . currently , the development schedule for these reserves extends though the year 2031 . price revisions 2013 2013 reserves increased 94 mmboe primarily due to higher gas prices . of this increase , 43 mmboe related to the barnett shale and 19 mmboe related to the rocky mountain area . 2012 2013 reserves decreased 171 mmboe primarily due to lower gas prices . of this decrease , 100 mmboe related to the barnett shale and 25 mmboe related to the rocky mountain area . 2011 2013 reserves decreased 21 mmboe due to lower gas prices and higher oil prices . the higher oil prices increased devon 2019s canadian royalty burden , which reduced devon 2019s oil reserves . revisions other than price total revisions other than price for 2013 , 2012 and 2011 primarily related to devon 2019s evaluation of certain dry gas regions , with the largest revisions being made in the cana-woodford shale , barnett shale and carthage .\nQuestion: what is the balance of proved undeveloped reserves in 2012 in us?\n" }, { "role": "agent", "content": "407.0" } ]
CONVFINQA4238	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nreinsurance commissions , fees and other revenue increased 1% ( 1 % ) driven by a favorable foreign currency translation of 2% ( 2 % ) and was partially offset by a 1% ( 1 % ) decline in dispositions , net of acquisitions and other . organic revenue was flat primarily resulting from strong growth in the capital market transactions and advisory business , partially offset by declines in global facultative placements . operating income operating income increased $ 120 million , or 10% ( 10 % ) , from 2010 to $ 1.3 billion in 2011 . in 2011 , operating income margins in this segment were 19.3% ( 19.3 % ) , up 70 basis points from 18.6% ( 18.6 % ) in 2010 . operating margin improvement was primarily driven by revenue growth , reduced costs of restructuring initiatives and realization of the benefits of those restructuring plans , which was partially offset by the negative impact of expense increases related to investment in the business , lease termination costs , legacy receivables write-off , and foreign currency exchange rates . hr solutions . <table class='wikitable'><tr><td>1</td><td>years ended december 31,</td><td>2011</td><td>2010</td><td>2009</td></tr><tr><td>2</td><td>revenue</td><td>$ 4501</td><td>$ 2111</td><td>$ 1267</td></tr><tr><td>3</td><td>operating income</td><td>448</td><td>234</td><td>203</td></tr><tr><td>4</td><td>operating margin</td><td>10.0% ( 10.0 % )</td><td>11.1% ( 11.1 % )</td><td>16.0% ( 16.0 % )</td></tr></table> in october 2010 , we completed the acquisition of hewitt , one of the world 2019s leading human resource consulting and outsourcing companies . hewitt operates globally together with aon 2019s existing consulting and outsourcing operations under the newly created aon hewitt brand . hewitt 2019s operating results are included in aon 2019s results of operations beginning october 1 , 2010 . our hr solutions segment generated approximately 40% ( 40 % ) of our consolidated total revenues in 2011 and provides a broad range of human capital services , as follows : 2022 health and benefits advises clients about how to structure , fund , and administer employee benefit programs that attract , retain , and motivate employees . benefits consulting includes health and welfare , executive benefits , workforce strategies and productivity , absence management , benefits administration , data-driven health , compliance , employee commitment , investment advisory and elective benefits services . effective january 1 , 2012 , this line of business will be included in the results of the risk solutions segment . 2022 retirement specializes in global actuarial services , defined contribution consulting , investment consulting , tax and erisa consulting , and pension administration . 2022 compensation focuses on compensatory advisory/counsel including : compensation planning design , executive reward strategies , salary survey and benchmarking , market share studies and sales force effectiveness , with special expertise in the financial services and technology industries . 2022 strategic human capital delivers advice to complex global organizations on talent , change and organizational effectiveness issues , including talent strategy and acquisition , executive on-boarding , performance management , leadership assessment and development , communication strategy , workforce training and change management . 2022 benefits administration applies our hr expertise primarily through defined benefit ( pension ) , defined contribution ( 401 ( k ) ) , and health and welfare administrative services . our model replaces the resource-intensive processes once required to administer benefit plans with more efficient , effective , and less costly solutions . 2022 human resource business processing outsourcing ( 2018 2018hr bpo 2019 2019 ) provides market-leading solutions to manage employee data ; administer benefits , payroll and other human resources processes ; and .\nQuestion: what was the change in net revenue from 2010 to 2011?\nAnswer: 2390.0\nQuestion: what was the net revenue in 2010?\n" }, { "role": "agent", "content": "2111.0" } ]
CONVFINQA8808	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nthe company has elected the fair-value option where the interest-rate risk of such liabilities is economically hedged with derivative contracts or the proceeds are used to purchase financial assets that will also be accounted for at fair value through earnings . the election has been made to mitigate accounting mismatches and to achieve operational simplifications . these positions are reported in short-term borrowings and long-term debt on the company 2019s consolidated balance sheet . the majority of these non-structured liabilities are a result of the company 2019s election of the fair-value option for liabilities associated with the citi-advised structured investment vehicles ( sivs ) , which were consolidated during the fourth quarter of 2007 . the change in fair values of the sivs 2019 liabilities reported in earnings was $ 2.6 billion for the year ended december 31 , 2008 . for these non-structured liabilities the aggregate fair value is $ 263 million lower than the aggregate unpaid principal balance as of december 31 , 2008 . for all other non-structured liabilities classified as long-term debt for which the fair-value option has been elected , the aggregate unpaid principal balance exceeds the aggregate fair value of such instruments by $ 97 million as of december 31 , 2008 while the aggregate fair value exceeded the aggregate unpaid principal by $ 112 million as of december 31 , 2007 . the change in fair value of these non-structured liabilities reported a gain of $ 1.2 billion for the year ended december 31 , 2008 . the change in fair value for these non-structured liabilities is reported in principal transactions in the company 2019s consolidated statement of income . related interest expense continues to be measured based on the contractual interest rates and reported as such in the consolidated income statement . certain mortgage loans citigroup has elected the fair-value option for certain purchased and originated prime fixed-rate and conforming adjustable-rate first mortgage loans held-for- sale . these loans are intended for sale or securitization and are hedged with derivative instruments . the company has elected the fair-value option to mitigate accounting mismatches in cases where hedge accounting is complex and to achieve operational simplifications . the fair-value option was not elected for loans held-for-investment , as those loans are not hedged with derivative instruments . this election was effective for applicable instruments originated or purchased on or after september 1 , 2007 . the following table provides information about certain mortgage loans carried at fair value : in millions of dollars december 31 , december 31 , carrying amount reported on the consolidated balance sheet $ 4273 $ 6392 aggregate fair value in excess of unpaid principal balance $ 138 $ 136 balance on non-accrual loans or loans more than 90 days past due $ 9 $ 17 aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days past due $ 2 $ 2014 the changes in fair values of these mortgage loans is reported in other revenue in the company 2019s consolidated statement of income . the changes in fair value during the year ended december 31 , 2008 due to instrument- specific credit risk resulted in a $ 32 million loss . the change in fair value during 2007 due to instrument-specific credit risk was immaterial . related interest income continues to be measured based on the contractual interest rates and reported as such in the consolidated income statement . items selected for fair-value accounting in accordance with sfas 155 and sfas 156 certain hybrid financial instruments the company has elected to apply fair-value accounting under sfas 155 for certain hybrid financial assets and liabilities whose performance is linked to risks other than interest rate , foreign exchange or inflation ( e.g. , equity , credit or commodity risks ) . in addition , the company has elected fair-value accounting under sfas 155 for residual interests retained from securitizing certain financial assets . the company has elected fair-value accounting for these instruments because these exposures are considered to be trading-related positions and , therefore , are managed on a fair-value basis . in addition , the accounting for these instruments is simplified under a fair-value approach as it eliminates the complicated operational requirements of bifurcating the embedded derivatives from the host contracts and accounting for each separately . the hybrid financial instruments are classified as trading account assets , loans , deposits , trading account liabilities ( for prepaid derivatives ) , short-term borrowings or long-term debt on the company 2019s consolidated balance sheet according to their legal form , while residual interests in certain securitizations are classified as trading account assets . for hybrid financial instruments for which fair-value accounting has been elected under sfas 155 and that are classified as long-term debt , the aggregate unpaid principal exceeds the aggregate fair value by $ 1.9 billion as of december 31 , 2008 , while the aggregate fair value exceeds the aggregate unpaid principal balance by $ 460 million as of december 31 , 2007 . the difference for those instruments classified as loans is immaterial . changes in fair value for hybrid financial instruments , which in most cases includes a component for accrued interest , are recorded in principal transactions in the company 2019s consolidated statement of income . interest accruals for certain hybrid instruments classified as trading assets are recorded separately from the change in fair value as interest revenue in the company 2019s consolidated statement of income . mortgage servicing rights the company accounts for mortgage servicing rights ( msrs ) at fair value in accordance with sfas 156 . fair value for msrs is determined using an option-adjusted spread valuation approach . this approach consists of projecting servicing cash flows under multiple interest-rate scenarios and discounting these cash flows using risk-adjusted rates . the model assumptions used in the valuation of msrs include mortgage prepayment speeds and discount rates . the fair value of msrs is primarily affected by changes in prepayments that result from shifts in mortgage interest rates . in managing this risk , the company hedges a significant portion of the values of its msrs through the use of interest-rate derivative contracts , forward- purchase commitments of mortgage-backed securities , and purchased securities classified as trading . see note 23 on page 175 for further discussions regarding the accounting and reporting of msrs . these msrs , which totaled $ 5.7 billion and $ 8.4 billion as of december 31 , 2008 and december 31 , 2007 , respectively , are classified as mortgage servicing rights on citigroup 2019s consolidated balance sheet . changes in fair value of msrs are recorded in commissions and fees in the company 2019s consolidated statement of income. . <table class='wikitable'><tr><td>1</td><td>in millions of dollars</td><td>december 31 2008</td><td>december 31 2007</td></tr><tr><td>2</td><td>carrying amount reported on the consolidated balance sheet</td><td>$ 4273</td><td>$ 6392</td></tr><tr><td>3</td><td>aggregate fair value in excess of unpaid principal balance</td><td>$ 138</td><td>$ 136</td></tr><tr><td>4</td><td>balance on non-accrual loans or loans more than 90 days past due</td><td>$ 9</td><td>$ 17</td></tr><tr><td>5</td><td>aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days pastdue</td><td>$ 2</td><td>$ 2014</td></tr></table> the company has elected the fair-value option where the interest-rate risk of such liabilities is economically hedged with derivative contracts or the proceeds are used to purchase financial assets that will also be accounted for at fair value through earnings . the election has been made to mitigate accounting mismatches and to achieve operational simplifications . these positions are reported in short-term borrowings and long-term debt on the company 2019s consolidated balance sheet . the majority of these non-structured liabilities are a result of the company 2019s election of the fair-value option for liabilities associated with the citi-advised structured investment vehicles ( sivs ) , which were consolidated during the fourth quarter of 2007 . the change in fair values of the sivs 2019 liabilities reported in earnings was $ 2.6 billion for the year ended december 31 , 2008 . for these non-structured liabilities the aggregate fair value is $ 263 million lower than the aggregate unpaid principal balance as of december 31 , 2008 . for all other non-structured liabilities classified as long-term debt for which the fair-value option has been elected , the aggregate unpaid principal balance exceeds the aggregate fair value of such instruments by $ 97 million as of december 31 , 2008 while the aggregate fair value exceeded the aggregate unpaid principal by $ 112 million as of december 31 , 2007 . the change in fair value of these non-structured liabilities reported a gain of $ 1.2 billion for the year ended december 31 , 2008 . the change in fair value for these non-structured liabilities is reported in principal transactions in the company 2019s consolidated statement of income . related interest expense continues to be measured based on the contractual interest rates and reported as such in the consolidated income statement . certain mortgage loans citigroup has elected the fair-value option for certain purchased and originated prime fixed-rate and conforming adjustable-rate first mortgage loans held-for- sale . these loans are intended for sale or securitization and are hedged with derivative instruments . the company has elected the fair-value option to mitigate accounting mismatches in cases where hedge accounting is complex and to achieve operational simplifications . the fair-value option was not elected for loans held-for-investment , as those loans are not hedged with derivative instruments . this election was effective for applicable instruments originated or purchased on or after september 1 , 2007 . the following table provides information about certain mortgage loans carried at fair value : in millions of dollars december 31 , december 31 , carrying amount reported on the consolidated balance sheet $ 4273 $ 6392 aggregate fair value in excess of unpaid principal balance $ 138 $ 136 balance on non-accrual loans or loans more than 90 days past due $ 9 $ 17 aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days past due $ 2 $ 2014 the changes in fair values of these mortgage loans is reported in other revenue in the company 2019s consolidated statement of income . the changes in fair value during the year ended december 31 , 2008 due to instrument- specific credit risk resulted in a $ 32 million loss . the change in fair value during 2007 due to instrument-specific credit risk was immaterial . related interest income continues to be measured based on the contractual interest rates and reported as such in the consolidated income statement . items selected for fair-value accounting in accordance with sfas 155 and sfas 156 certain hybrid financial instruments the company has elected to apply fair-value accounting under sfas 155 for certain hybrid financial assets and liabilities whose performance is linked to risks other than interest rate , foreign exchange or inflation ( e.g. , equity , credit or commodity risks ) . in addition , the company has elected fair-value accounting under sfas 155 for residual interests retained from securitizing certain financial assets . the company has elected fair-value accounting for these instruments because these exposures are considered to be trading-related positions and , therefore , are managed on a fair-value basis . in addition , the accounting for these instruments is simplified under a fair-value approach as it eliminates the complicated operational requirements of bifurcating the embedded derivatives from the host contracts and accounting for each separately . the hybrid financial instruments are classified as trading account assets , loans , deposits , trading account liabilities ( for prepaid derivatives ) , short-term borrowings or long-term debt on the company 2019s consolidated balance sheet according to their legal form , while residual interests in certain securitizations are classified as trading account assets . for hybrid financial instruments for which fair-value accounting has been elected under sfas 155 and that are classified as long-term debt , the aggregate unpaid principal exceeds the aggregate fair value by $ 1.9 billion as of december 31 , 2008 , while the aggregate fair value exceeds the aggregate unpaid principal balance by $ 460 million as of december 31 , 2007 . the difference for those instruments classified as loans is immaterial . changes in fair value for hybrid financial instruments , which in most cases includes a component for accrued interest , are recorded in principal transactions in the company 2019s consolidated statement of income . interest accruals for certain hybrid instruments classified as trading assets are recorded separately from the change in fair value as interest revenue in the company 2019s consolidated statement of income . mortgage servicing rights the company accounts for mortgage servicing rights ( msrs ) at fair value in accordance with sfas 156 . fair value for msrs is determined using an option-adjusted spread valuation approach . this approach consists of projecting servicing cash flows under multiple interest-rate scenarios and discounting these cash flows using risk-adjusted rates . the model assumptions used in the valuation of msrs include mortgage prepayment speeds and discount rates . the fair value of msrs is primarily affected by changes in prepayments that result from shifts in mortgage interest rates . in managing this risk , the company hedges a significant portion of the values of its msrs through the use of interest-rate derivative contracts , forward- purchase commitments of mortgage-backed securities , and purchased securities classified as trading . see note 23 on page 175 for further discussions regarding the accounting and reporting of msrs . these msrs , which totaled $ 5.7 billion and $ 8.4 billion as of december 31 , 2008 and december 31 , 2007 , respectively , are classified as mortgage servicing rights on citigroup 2019s consolidated balance sheet . changes in fair value of msrs are recorded in commissions and fees in the company 2019s consolidated statement of income. .\nQuestion: what the balance of carrying amount reported on the consolidated balance sheet in 2008?\nAnswer: 4273.0\nQuestion: what about in 2007?\nAnswer: 6392.0\nQuestion: what is the net change?\n" }, { "role": "agent", "content": "-2119.0" } ]
CONVFINQA9535	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nstock performance graph this performance graph shall not be deemed 201cfiled 201d for purposes of section 18 of the exchange act , or incorporated by reference into any filing of quintiles ims holdings , inc . under the exchange act or under the securities act , except as shall be expressly set forth by specific reference in such filing . the following graph shows a comparison from may 9 , 2013 ( the date our common stock commenced trading on the nyse ) through december 31 , 2016 of the cumulative total return for our common stock , the standard & poor 2019s 500 stock index ( 201cs&p 500 201d ) and a select peer group . the peer group consists of cerner corporation , charles river laboratories , inc. , dun & bradstreet corporation , equifax inc. , icon plc , ihs markit ltd. , inc research holdings , laboratory corporation of america holdings , nielsen n.v. , parexel international corporation , inc. , pra health sciences , inc. , thomson reuters corporation and verisk analytics , inc . the companies in our peer group are publicly traded information services , information technology or contract research companies , and thus share similar business model characteristics to quintilesims , or provide services to similar customers as quintilesims . many of these companies are also used by our compensation committee for purposes of compensation benchmarking . the graph assumes that $ 100 was invested in quintilesims , the s&p 500 and the peer group as of the close of market on may 9 , 2013 , assumes the reinvestments of dividends , if any . the s&p 500 and our peer group are included for comparative purposes only . they do not necessarily reflect management 2019s opinion that the s&p 500 and our peer group are an appropriate measure of the relative performance of the stock involved , and they are not intended to forecast or be indicative of possible future performance of our common stock . s&p 500 quintilesims peer group . <table class='wikitable'><tr><td>1</td><td>-</td><td>5/9/2013</td><td>12/31/2013</td><td>12/31/2014</td><td>12/31/2015</td><td>12/31/2016</td></tr><tr><td>2</td><td>q</td><td>$ 100</td><td>$ 110</td><td>$ 140</td><td>$ 163</td><td>$ 181</td></tr><tr><td>3</td><td>peer group</td><td>$ 100</td><td>$ 116</td><td>$ 143</td><td>$ 151</td><td>$ 143</td></tr><tr><td>4</td><td>s&p 500</td><td>$ 100</td><td>$ 114</td><td>$ 127</td><td>$ 126</td><td>$ 138</td></tr></table> item 6 . selected financial data we have derived the following consolidated statements of income data for 2016 , 2015 and 2014 and consolidated balance sheet data as of december 31 , 2016 and 2015 from our audited consolidated financial .\nQuestion: what was the value of q at the end of 2014?\n" }, { "role": "agent", "content": "140.0" } ]
CONVFINQA7704	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nrestrictive covenants the terms of the 2017 credit facility and certain of our senior unsecured notes include certain restrictions and covenants which may limit , among other things , our ability to pay dividends , make certain types of investments , incur additional indebtedness , incur liens and enter into negative pledge agreements and dispose of assets , and which require compliance with financial ratios relating to the maximum ratio of total indebtedness to total asset value , a minimum ratio of ebitda to fixed charges , a maximum ratio of secured indebtedness to total asset value and a maximum ratio of unsecured indebtedness to unencumbered asset value . the dividend restriction referred to above provides that , we will not during any time when a default is continuing , make distributions with respect to common stock or other equity interests , except to enable the company to continue to qualify as a reit for federal income tax purposes . as of december a031 , 2017 and 2016 , we were in compliance with all such covenants . junior subordinated deferrable interest debentures in june a02005 , the company and the operating partnership issued $ 100.0 a0million in unsecured trust preferred securities through a newly formed trust , sl a0green capital trust i , or the trust , which is a wholly-owned subsidiary of the operating partnership . the securities mature in 2035 and bear interest at a floating rate of 125 a0basis points over the three-month libor . interest payments may be deferred for a period of up to eight consecutive quarters if the operating partnership exercises its right to defer such payments . the trust preferred securities are redeemable at the option of the operating partnership , in whole or in part , with no prepayment premium . we do not consolidate the trust even though it is a variable interest entity as we are not the primary beneficiary . because the trust is not consolidated , we have recorded the debt on our consolidated balance sheets and the related payments are classified as interest expense . interest rate risk we are exposed to changes in interest rates primarily from our variable rate debt . our exposure to interest rate fluctuations are managed through either the use of interest rate derivative instru- ments and/or through our variable rate debt and preferred equity investments . a hypothetical 100 a0basis point increase in interest rates along the entire interest rate curve for a02017 would increase our consolidated annual interest cost , net of interest income from variable rate debt and preferred equity investments , by $ 2.7 a0mil- lion and would increase our share of joint venture annual interest cost by $ 17.2 a0million . at december a031 , 2017 , 61.5% ( 61.5 % ) of our $ 2.1 a0bil- lion debt and preferred equity portfolio is indexed to libor . we recognize most derivatives on the balance sheet at fair value . derivatives that are not hedges are adjusted to fair value through income . if a derivative is considered a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earnings , or recog- nized in other comprehensive income until the hedged item is recognized in earnings . the ineffective portion of a derivative 2019s change in fair value is immediately recognized in a0earnings . our long-term debt of $ 4.3 a0billion bears interest at fixed rates , and therefore the fair value of these instruments is affected by changes in the market interest rates . our variable rate debt and variable rate joint venture debt as of december a031 , 2017 bore interest based on a spread of libor plus 100 a0basis points to libor plus 415 a0basis points . contractual obligations the combined aggregate principal maturities of mortgages and other loans payable , the 2017 credit facility , senior unsecured notes ( net of discount ) , trust preferred securities , our share of joint venture debt , including as-of-right extension options and put options , estimated interest expense , and our obligations under our capital lease and ground leases , as of december a031 , 2017 are as follows ( in a0thousands ) : . <table class='wikitable'><tr><td>1</td><td>-</td><td>2018</td><td>2019</td><td>2020</td><td>2021</td><td>2022</td><td>thereafter</td><td>total</td></tr><tr><td>2</td><td>property mortgages and other loans</td><td>$ 153593</td><td>$ 42289</td><td>$ 703018</td><td>$ 11656</td><td>$ 208003</td><td>$ 1656623</td><td>$ 2775182</td></tr><tr><td>3</td><td>mra facilities</td><td>90809</td><td>2014</td><td>2014</td><td>2014</td><td>2014</td><td>2014</td><td>90809</td></tr><tr><td>4</td><td>revolving credit facility</td><td>2014</td><td>2014</td><td>2014</td><td>2014</td><td>2014</td><td>40000</td><td>40000</td></tr><tr><td>5</td><td>unsecured term loans</td><td>2014</td><td>2014</td><td>2014</td><td>2014</td><td>2014</td><td>1500000</td><td>1500000</td></tr><tr><td>6</td><td>senior unsecured notes</td><td>250000</td><td>2014</td><td>250000</td><td>2014</td><td>800000</td><td>100000</td><td>1400000</td></tr><tr><td>7</td><td>trust preferred securities</td><td>2014</td><td>2014</td><td>2014</td><td>2014</td><td>2014</td><td>100000</td><td>100000</td></tr><tr><td>8</td><td>capital lease</td><td>2387</td><td>2411</td><td>2620</td><td>2794</td><td>2794</td><td>819894</td><td>832900</td></tr><tr><td>9</td><td>ground leases</td><td>31049</td><td>31066</td><td>31436</td><td>31628</td><td>29472</td><td>703254</td><td>857905</td></tr><tr><td>10</td><td>estimated interest expense</td><td>226815</td><td>218019</td><td>184376</td><td>163648</td><td>155398</td><td>281694</td><td>1229950</td></tr><tr><td>11</td><td>joint venture debt</td><td>200250</td><td>717682</td><td>473809</td><td>449740</td><td>223330</td><td>2119481</td><td>4184292</td></tr><tr><td>12</td><td>total</td><td>$ 954903</td><td>$ 1011467</td><td>$ 1645259</td><td>$ 659466</td><td>$ 1418997</td><td>$ 7320946</td><td>$ 13011038</td></tr></table> .\nQuestion: what was the total of estimated interest expense payments in 2018?\n" }, { "role": "agent", "content": "226815.0" } ]
CONVFINQA9249	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\ntable of contents ( 4 ) the decline in cash flows was driven by the timing of inventory purchases at the end of 2014 versus 2013 . in order to manage our working capital and operating cash needs , we monitor our cash conversion cycle , defined as days of sales outstanding in accounts receivable plus days of supply in inventory minus days of purchases outstanding in accounts payable , based on a rolling three-month average . components of our cash conversion cycle are as follows: . <table class='wikitable'><tr><td>1</td><td>( in days )</td><td>december 31 , 2015</td><td>december 31 , 2014</td><td>december 31 , 2013</td></tr><tr><td>2</td><td>days of sales outstanding ( dso ) ( 1 )</td><td>48</td><td>42</td><td>44</td></tr><tr><td>3</td><td>days of supply in inventory ( dio ) ( 2 )</td><td>13</td><td>13</td><td>14</td></tr><tr><td>4</td><td>days of purchases outstanding ( dpo ) ( 3 )</td><td>-40 ( 40 )</td><td>-34 ( 34 )</td><td>-35 ( 35 )</td></tr><tr><td>5</td><td>cash conversion cycle</td><td>21</td><td>21</td><td>23</td></tr></table> ( 1 ) represents the rolling three-month average of the balance of trade accounts receivable , net at the end of the period divided by average daily net sales for the same three-month period . also incorporates components of other miscellaneous receivables . ( 2 ) represents the rolling three-month average of the balance of merchandise inventory at the end of the period divided by average daily cost of goods sold for the same three-month period . ( 3 ) represents the rolling three-month average of the combined balance of accounts payable-trade , excluding cash overdrafts , and accounts payable-inventory financing at the end of the period divided by average daily cost of goods sold for the same three-month period . the cash conversion cycle remained at 21 days at december 31 , 2015 and december 31 , 2014 . the increase in dso was primarily driven by a higher accounts receivable balance at december 31 , 2015 driven by higher public segment sales where customers generally take longer to pay than customers in our corporate segment , slower government payments in certain states due to budget issues and an increase in net sales and related accounts receivable for third-party services such as software assurance and warranties . these services have an unfavorable impact on dso as the receivable is recognized on the balance sheet on a gross basis while the corresponding sales amount in the statement of operations is recorded on a net basis . these services have a favorable impact on dpo as the payable is recognized on the balance sheet without a corresponding cost of sale in the statement of operations because the cost paid to the vendor or third-party service provider is recorded as a reduction to net sales . in addition to the impact of these services on dpo , dpo also increased due to the mix of payables with certain vendors that have longer payment terms . the cash conversion cycle decreased to 21 days at december 31 , 2014 compared to 23 days at december 31 , 2013 , primarily driven by improvement in dso . the decline in dso was primarily driven by improved collections and early payments from certain customers . additionally , the timing of inventory receipts at the end of 2014 had a favorable impact on dio and an unfavorable impact on dpo . investing activities net cash used in investing activities increased $ 189.6 million in 2015 compared to 2014 . the increase was primarily due to the completion of the acquisition of kelway by purchasing the remaining 65% ( 65 % ) of its outstanding common stock on august 1 , 2015 . additionally , capital expenditures increased $ 35.1 million to $ 90.1 million from $ 55.0 million for 2015 and 2014 , respectively , primarily for our new office location and an increase in spending related to improvements to our information technology systems . net cash used in investing activities increased $ 117.7 million in 2014 compared to 2013 . we paid $ 86.8 million in the fourth quarter of 2014 to acquire a 35% ( 35 % ) non-controlling interest in kelway . additionally , capital expenditures increased $ 7.9 million to $ 55.0 million from $ 47.1 million in 2014 and 2013 , respectively , primarily for improvements to our information technology systems during both years . financing activities net cash used in financing activities increased $ 114.5 million in 2015 compared to 2014 . the increase was primarily driven by share repurchases during the year ended december 31 , 2015 which resulted in an increase in cash used for financing activities of $ 241.3 million . for more information on our share repurchase program , see item 5 , 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities . 201d the increase was partially offset by the changes in accounts payable-inventory financing , which resulted in an increase in cash provided for financing activities of $ 20.4 million , and the net impact of our debt transactions which resulted in cash outflows of $ 7.1 million and $ 145.9 million during the years .\nQuestion: what is the days of sales outstanding in 2015?\n" }, { "role": "agent", "content": "48.0" } ]
CONVFINQA911	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nn o t e s t o c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( continued ) ace limited and subsidiaries share-based compensation expense for stock options and shares issued under the employee stock purchase plan ( espp ) amounted to $ 24 million ( $ 22 million after tax or $ 0.07 per basic and diluted share ) , $ 23 million ( $ 21 million after tax or $ 0.06 per basic and diluted share ) , and $ 20 million ( $ 18 million after tax or $ 0.05 per basic and diluted share ) for the years ended december 31 , 2008 , 2007 , and 2006 , respectively . for the years ended december 31 , 2008 , 2007 and 2006 , the expense for the restricted stock was $ 101 million ( $ 71 million after tax ) , $ 77 million ( $ 57 million after tax ) , and $ 65 million ( $ 49 million after tax ) , respectively . during 2004 , the company established the ace limited 2004 long-term incentive plan ( the 2004 ltip ) . once the 2004 ltip was approved by shareholders , it became effective february 25 , 2004 . it will continue in effect until terminated by the board . this plan replaced the ace limited 1995 long-term incentive plan , the ace limited 1995 outside directors plan , the ace limited 1998 long-term incentive plan , and the ace limited 1999 replacement long-term incentive plan ( the prior plans ) except as to outstanding awards . during the company 2019s 2008 annual general meeting , shareholders voted to increase the number of common shares authorized to be issued under the 2004 ltip from 15000000 common shares to 19000000 common shares . accordingly , under the 2004 ltip , a total of 19000000 common shares of the company are authorized to be issued pursuant to awards made as stock options , stock appreciation rights , performance shares , performance units , restricted stock , and restricted stock units . the maximum number of shares that may be delivered to participants and their beneficiaries under the 2004 ltip shall be equal to the sum of : ( i ) 19000000 shares ; and ( ii ) any shares that are represented by awards granted under the prior plans that are forfeited , expired , or are canceled after the effective date of the 2004 ltip , without delivery of shares or which result in the forfeiture of the shares back to the company to the extent that such shares would have been added back to the reserve under the terms of the applicable prior plan . as of december 31 , 2008 , a total of 10591090 shares remain available for future issuance under this plan . under the 2004 ltip , 3000000 common shares are authorized to be issued under the espp . as of december 31 , 2008 , a total of 989812 common shares remain available for issuance under the espp . stock options the company 2019s 2004 ltip provides for grants of both incentive and non-qualified stock options principally at an option price per share of 100 percent of the fair value of the company 2019s common shares on the date of grant . stock options are generally granted with a 3-year vesting period and a 10-year term . the stock options vest in equal annual installments over the respective vesting period , which is also the requisite service period . included in the company 2019s share-based compensation expense in the year ended december 31 , 2008 , is the cost related to the unvested portion of the 2005-2008 stock option grants . the fair value of the stock options was estimated on the date of grant using the black-scholes option-pricing model that uses the assumptions noted in the following table . the risk-free inter- est rate is based on the u.s . treasury yield curve in effect at the time of grant . the expected life ( estimated period of time from grant to exercise date ) was estimated using the historical exercise behavior of employees . expected volatility was calculated as a blend of ( a ) historical volatility based on daily closing prices over a period equal to the expected life assumption , ( b ) long- term historical volatility based on daily closing prices over the period from ace 2019s initial public trading date through the most recent quarter , and ( c ) implied volatility derived from ace 2019s publicly traded options . the fair value of the options issued is estimated on the date of grant using the black-scholes option-pricing model , with the following weighted-average assumptions used for grants for the years indicated: . <table class='wikitable'><tr><td>1</td><td>-</td><td>2008</td><td>2007</td><td>2006</td></tr><tr><td>2</td><td>dividend yield</td><td>1.80% ( 1.80 % )</td><td>1.78% ( 1.78 % )</td><td>1.64% ( 1.64 % )</td></tr><tr><td>3</td><td>expected volatility</td><td>32.20% ( 32.20 % )</td><td>27.43% ( 27.43 % )</td><td>31.29% ( 31.29 % )</td></tr><tr><td>4</td><td>risk-free interest rate</td><td>3.15% ( 3.15 % )</td><td>4.51% ( 4.51 % )</td><td>4.60% ( 4.60 % )</td></tr><tr><td>5</td><td>forfeiture rate</td><td>7.5% ( 7.5 % )</td><td>7.5% ( 7.5 % )</td><td>7.5% ( 7.5 % )</td></tr><tr><td>6</td><td>expected life</td><td>5.7 years</td><td>5.6 years</td><td>6 years</td></tr></table> .\nQuestion: what was the change in the number of common shares authorized to be issued under the 2004 ltip?\nAnswer: 4000000.0\nQuestion: and what was the original number shares authorized to be issued?\n" }, { "role": "agent", "content": "15000000.0" } ]
CONVFINQA10302	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nentergy arkansas , inc . management's financial discussion and analysis fuel and purchased power expenses increased primarily due to increased recovery of deferred fuel and purchased power costs primarily due to an increase in april 2004 in the energy cost recovery rider and the true-ups to the 2003 and 2002 energy cost recovery rider filings . other regulatory credits decreased primarily due to the over-recovery of grand gulf costs due to an increase in the grand gulf rider effective january 2004 . 2003 compared to 2002 net revenue , which is entergy arkansas' measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory credits . following is an analysis of the change in net revenue comparing 2003 to 2002. . <table class='wikitable'><tr><td>1</td><td>-</td><td>( in millions )</td></tr><tr><td>2</td><td>2002 net revenue</td><td>$ 1095.9</td></tr><tr><td>3</td><td>march 2002 settlement agreement</td><td>-154.0 ( 154.0 )</td></tr><tr><td>4</td><td>volume/weather</td><td>-7.7 ( 7.7 )</td></tr><tr><td>5</td><td>asset retirement obligation</td><td>30.1</td></tr><tr><td>6</td><td>net wholesale revenue</td><td>16.6</td></tr><tr><td>7</td><td>deferred fuel cost revisions</td><td>10.2</td></tr><tr><td>8</td><td>other</td><td>7.6</td></tr><tr><td>9</td><td>2003 net revenue</td><td>$ 998.7</td></tr></table> the march 2002 settlement agreement resolved a request for recovery of ice storm costs incurred in december 2000 with an offset of those costs for funds contributed to pay for future stranded costs . a 1997 settlement provided for the collection of earnings in excess of an 11% ( 11 % ) return on equity in a transition cost account ( tca ) to offset stranded costs if retail open access were implemented . in mid- and late december 2000 , two separate ice storms left 226000 and 212500 entergy arkansas customers , respectively , without electric power in its service area . entergy arkansas filed a proposal to recover costs plus carrying charges associated with power restoration caused by the ice storms . entergy arkansas' final storm damage cost determination reflected costs of approximately $ 195 million . the apsc approved a settlement agreement submitted in march 2002 by entergy arkansas , the apsc staff , and the arkansas attorney general . in the march 2002 settlement , the parties agreed that $ 153 million of the ice storm costs would be classified as incremental ice storm expenses that can be offset against the tca on a rate class basis , and any excess of ice storm costs over the amount available in the tca would be deferred and amortized over 30 years , although such excess costs were not allowed to be included as a separate component of rate base . the allocated ice storm expenses exceeded the available tca funds by $ 15.8 million which was recorded as a regulatory asset in june 2002 . in accordance with the settlement agreement and following the apsc's approval of the 2001 earnings review related to the tca , entergy arkansas filed to return $ 18.1 million of the tca to certain large general service class customers that paid more into the tca than their allocation of storm costs . the apsc approved the return of funds to the large general service customer class in the form of refund checks in august 2002 . as part of the implementation of the march 2002 settlement agreement provisions , the tca procedure ceased with the 2001 earnings evaluation . of the remaining ice storm costs , $ 32.2 million was addressed through established ratemaking procedures , including $ 22.2 million classified as capital additions , while $ 3.8 million of the ice storm costs was not recovered through rates . the effect on net income of the march 2002 settlement agreement and 2001 earnings review was a $ 2.2 million increase in 2003 , because the decrease in net revenue was offset by the decrease in operation and maintenance expenses discussed below. .\nQuestion: what is the net change in net revenue from 2002 to 2003?\nAnswer: -97.2\nQuestion: what is the net revenue in 2002?\nAnswer: 1095.9\nQuestion: what growth rate does this represent?\nAnswer: -0.08869\nQuestion: what is the damage cost related to the storm in 2002?\n" }, { "role": "agent", "content": "195.0" } ]
CONVFINQA9641	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nour refineries processed 944 mbpd of crude oil and 207 mbpd of other charge and blend stocks . the table below sets forth the location and daily crude oil refining capacity of each of our refineries as of december 31 , 2008 . crude oil refining capacity ( thousands of barrels per day ) 2008 . <table class='wikitable'><tr><td>1</td><td>( thousands of barrels per day )</td><td>2008</td></tr><tr><td>2</td><td>garyville louisiana</td><td>256</td></tr><tr><td>3</td><td>catlettsburg kentucky</td><td>226</td></tr><tr><td>4</td><td>robinson illinois</td><td>204</td></tr><tr><td>5</td><td>detroit michigan</td><td>102</td></tr><tr><td>6</td><td>canton ohio</td><td>78</td></tr><tr><td>7</td><td>texas city texas</td><td>76</td></tr><tr><td>8</td><td>st . paul park minnesota</td><td>74</td></tr><tr><td>9</td><td>total</td><td>1016</td></tr></table> our refineries include crude oil atmospheric and vacuum distillation , fluid catalytic cracking , catalytic reforming , desulfurization and sulfur recovery units . the refineries process a wide variety of crude oils and produce numerous refined products , ranging from transportation fuels , such as reformulated gasolines , blend- grade gasolines intended for blending with fuel ethanol and ultra-low sulfur diesel fuel , to heavy fuel oil and asphalt . additionally , we manufacture aromatics , cumene , propane , propylene , sulfur and maleic anhydride . our refineries are integrated with each other via pipelines , terminals and barges to maximize operating efficiency . the transportation links that connect our refineries allow the movement of intermediate products between refineries to optimize operations , produce higher margin products and utilize our processing capacity efficiently . our garyville , louisiana , refinery is located along the mississippi river in southeastern louisiana . the garyville refinery processes heavy sour crude oil into products such as gasoline , distillates , sulfur , asphalt , propane , polymer grade propylene , isobutane and coke . in 2006 , we approved an expansion of our garyville refinery by 180 mbpd to 436 mbpd , with a currently projected cost of $ 3.35 billion ( excluding capitalized interest ) . construction commenced in early 2007 and is continuing on schedule . we estimate that , as of december 31 , 2008 , this project is approximately 75 percent complete . we expect to complete the expansion in late 2009 . our catlettsburg , kentucky , refinery is located in northeastern kentucky on the western bank of the big sandy river , near the confluence with the ohio river . the catlettsburg refinery processes sweet and sour crude oils into products such as gasoline , asphalt , diesel , jet fuel , petrochemicals , propane , propylene and sulfur . our robinson , illinois , refinery is located in the southeastern illinois town of robinson . the robinson refinery processes sweet and sour crude oils into products such as multiple grades of gasoline , jet fuel , kerosene , diesel fuel , propane , propylene , sulfur and anode-grade coke . our detroit , michigan , refinery is located near interstate 75 in southwest detroit . the detroit refinery processes light sweet and heavy sour crude oils , including canadian crude oils , into products such as gasoline , diesel , asphalt , slurry , propane , chemical grade propylene and sulfur . in 2007 , we approved a heavy oil upgrading and expansion project at our detroit , michigan , refinery , with a current projected cost of $ 2.2 billion ( excluding capitalized interest ) . this project will enable the refinery to process additional heavy sour crude oils , including canadian bitumen blends , and will increase its crude oil refining capacity by about 15 percent . construction began in the first half of 2008 and is presently expected to be complete in mid-2012 . our canton , ohio , refinery is located approximately 60 miles southeast of cleveland , ohio . the canton refinery processes sweet and sour crude oils into products such as gasoline , diesel fuels , kerosene , propane , sulfur , asphalt , roofing flux , home heating oil and no . 6 industrial fuel oil . our texas city , texas , refinery is located on the texas gulf coast approximately 30 miles south of houston , texas . the refinery processes sweet crude oil into products such as gasoline , propane , chemical grade propylene , slurry , sulfur and aromatics . our st . paul park , minnesota , refinery is located in st . paul park , a suburb of minneapolis-st . paul . the st . paul park refinery processes predominantly canadian crude oils into products such as gasoline , diesel , jet fuel , kerosene , asphalt , propane , propylene and sulfur. .\nQuestion: as of december 31, 2008, what was the amount of the crude oil refining capacity that was located in detroit michigan?\nAnswer: 102.0\nQuestion: and what was that crude oil refining capacity?\nAnswer: 1016.0\nQuestion: what percentage, then, did that amount represent in relation to this capacity value?\nAnswer: 0.10039\nQuestion: and concerning the garyville refinery, what was its capacity in 2006, with the approved expansion?\nAnswer: 436.0\nQuestion: what was it before the expansion?\n" }, { "role": "agent", "content": "180.0" } ]
CONVFINQA5571	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nholding other assumptions constant , the following table reflects what a one hundred basis point increase and decrease in our estimated long-term rate of return on plan assets would have on our estimated 2011 pension expense ( in millions ) : change in long-term rate of return on plan assets . <table class='wikitable'><tr><td>1</td><td>increase ( decrease ) in expense</td><td>change in long-term rateof return on plan assets increase</td><td>change in long-term rateof return on plan assets decrease</td></tr><tr><td>2</td><td>u.s . plans</td><td>$ -14 ( 14 )</td><td>$ 14</td></tr><tr><td>3</td><td>u.k . plans</td><td>-35 ( 35 )</td><td>35</td></tr><tr><td>4</td><td>the netherlands plan</td><td>-5 ( 5 )</td><td>5</td></tr><tr><td>5</td><td>canada plans</td><td>-2 ( 2 )</td><td>2</td></tr></table> estimated future contributions we estimate contributions of approximately $ 403 million in 2011 as compared with $ 288 million in goodwill and other intangible assets goodwill represents the excess of cost over the fair market value of the net assets acquired . we classify our intangible assets acquired as either trademarks , customer relationships , technology , non-compete agreements , or other purchased intangibles . our goodwill and other intangible balances at december 31 , 2010 increased to $ 8.6 billion and $ 3.6 billion , respectively , compared to $ 6.1 billion and $ 791 million , respectively , at december 31 , 2009 , primarily as a result of the hewitt acquisition . although goodwill is not amortized , we test it for impairment at least annually in the fourth quarter . in the fourth quarter , we also test acquired trademarks ( which also are not amortized ) for impairment . we test more frequently if there are indicators of impairment or whenever business circumstances suggest that the carrying value of goodwill or trademarks may not be recoverable . these indicators may include a sustained significant decline in our share price and market capitalization , a decline in our expected future cash flows , or a significant adverse change in legal factors or in the business climate , among others . no events occurred during 2010 or 2009 that indicate the existence of an impairment with respect to our reported goodwill or trademarks . we perform impairment reviews at the reporting unit level . a reporting unit is an operating segment or one level below an operating segment ( referred to as a 2018 2018component 2019 2019 ) . a component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component . an operating segment shall be deemed to be a reporting unit if all of its components are similar , if none of its components is a reporting unit , or if the segment comprises only a single component . the goodwill impairment test is a two step analysis . step one requires the fair value of each reporting unit to be compared to its book value . management must apply judgment in determining the estimated fair value of the reporting units . if the fair value of a reporting unit is determined to be greater than the carrying value of the reporting unit , goodwill and trademarks are deemed not to be impaired and no further testing is necessary . if the fair value of a reporting unit is less than the carrying value , we perform step two . step two uses the calculated fair value of the reporting unit to perform a hypothetical purchase price allocation to the fair value of the assets and liabilities of the reporting unit . the difference between the fair value of the reporting unit calculated in step one and the fair value of the underlying assets and liabilities of the reporting unit is the implied fair value of the reporting unit 2019s goodwill . a charge is recorded in the financial statements if the carrying value of the reporting unit 2019s goodwill is greater than its implied fair value. .\nQuestion: what was the change in long-term rate of return on plan assets increase of us plans?\nAnswer: 14.0\nQuestion: and what was it for the uk plans?\nAnswer: 35.0\nQuestion: what was, then, the total long-term rate of return on plan assets increase for both of those countries?\n" }, { "role": "agent", "content": "49.0" } ]
CONVFINQA5495	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\namerican tower corporation and subsidiaries notes to consolidated financial statements the allocation of the purchase price was finalized during the year ended december 31 , 2012 . the following table summarizes the allocation of the aggregate purchase consideration paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition ( in thousands ) : purchase price allocation . <table class='wikitable'><tr><td>1</td><td>-</td><td>final purchase price allocation</td></tr><tr><td>2</td><td>non-current assets</td><td>$ 2</td></tr><tr><td>3</td><td>property and equipment</td><td>3590</td></tr><tr><td>4</td><td>intangible assets ( 1 )</td><td>1062</td></tr><tr><td>5</td><td>other non-current liabilities</td><td>-91 ( 91 )</td></tr><tr><td>6</td><td>fair value of net assets acquired</td><td>$ 4563</td></tr><tr><td>7</td><td>goodwill ( 2 )</td><td>89</td></tr></table> ( 1 ) consists of customer-related intangibles of approximately $ 0.4 million and network location intangibles of approximately $ 0.7 million . the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years . ( 2 ) the company expects that the goodwill recorded will be deductible for tax purposes . the goodwill was allocated to the company 2019s international rental and management segment . colombia 2014colombia movil acquisition 2014on july 17 , 2011 , the company entered into a definitive agreement with colombia movil s.a . e.s.p . ( 201ccolombia movil 201d ) , whereby atc sitios infraco , s.a.s. , a colombian subsidiary of the company ( 201catc infraco 201d ) , would purchase up to 2126 communications sites from colombia movil for an aggregate purchase price of approximately $ 182.0 million . from december 21 , 2011 through the year ended december 31 , 2012 , atc infraco completed the purchase of 1526 communications sites for an aggregate purchase price of $ 136.2 million ( including contingent consideration of $ 17.3 million ) , subject to post-closing adjustments . through a subsidiary , millicom international cellular s.a . ( 201cmillicom 201d ) exercised its option to acquire an indirect , substantial non-controlling interest in atc infraco . under the terms of the agreement , the company is required to make additional payments upon the conversion of certain barter agreements with other wireless carriers to cash paying lease agreements . based on the company 2019s current estimates , the value of potential contingent consideration payments required to be made under the amended agreement is expected to be between zero and $ 32.8 million and is estimated to be $ 17.3 million using a probability weighted average of the expected outcomes at december 31 , 2012 . during the year ended december 31 , 2012 , the company recorded a reduction in fair value of $ 1.2 million , which is included in other operating expenses in the consolidated statements of operations. .\nQuestion: what was the total aggregate purchase price of assets?\nAnswer: 182.0\nQuestion: what is that value time 1000000?\nAnswer: 182000000.0\nQuestion: what was the number of sites purchased?\n" }, { "role": "agent", "content": "2126.0" } ]
CONVFINQA3645	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nentergy corporation and subsidiaries notes to financial statements entergy new orleans securitization bonds - hurricane isaac in may 2015 the city council issued a financing order authorizing the issuance of securitization bonds to recover entergy new orleans 2019s hurricane isaac storm restoration costs of $ 31.8 million , including carrying costs , the costs of funding and replenishing the storm recovery reserve in the amount of $ 63.9 million , and approximately $ 3 million of up-front financing costs associated with the securitization . in july 2015 , entergy new orleans storm recovery funding i , l.l.c. , a company wholly owned and consolidated by entergy new orleans , issued $ 98.7 million of storm cost recovery bonds . the bonds have a coupon of 2.67% ( 2.67 % ) and an expected maturity date of june 2024 . although the principal amount is not due until the date given above , entergy new orleans storm recovery funding expects to make principal payments on the bonds over the next five years in the amounts of $ 11.4 million for 2016 , $ 10.6 million for 2017 , $ 11 million for 2018 , $ 11.2 million for 2019 , and $ 11.6 million for 2020 . with the proceeds , entergy new orleans storm recovery funding purchased from entergy new orleans the storm recovery property , which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds . the storm recovery property is reflected as a regulatory asset on the consolidated entergy new orleans balance sheet . the creditors of entergy new orleans do not have recourse to the assets or revenues of entergy new orleans storm recovery funding , including the storm recovery property , and the creditors of entergy new orleans storm recovery funding do not have recourse to the assets or revenues of entergy new orleans . entergy new orleans has no payment obligations to entergy new orleans storm recovery funding except to remit storm recovery charge collections . entergy texas securitization bonds - hurricane rita in april 2007 the puct issued a financing order authorizing the issuance of securitization bonds to recover $ 353 million of entergy texas 2019s hurricane rita reconstruction costs and up to $ 6 million of transaction costs , offset by $ 32 million of related deferred income tax benefits . in june 2007 , entergy gulf states reconstruction funding i , llc , a company that is now wholly-owned and consolidated by entergy texas , issued $ 329.5 million of senior secured transition bonds ( securitization bonds ) as follows : amount ( in thousands ) . <table class='wikitable'><tr><td>1</td><td>-</td><td>amount ( in thousands )</td></tr><tr><td>2</td><td>senior secured transition bonds series a:</td><td>-</td></tr><tr><td>3</td><td>tranche a-1 ( 5.51% ( 5.51 % ) ) due october 2013</td><td>$ 93500</td></tr><tr><td>4</td><td>tranche a-2 ( 5.79% ( 5.79 % ) ) due october 2018</td><td>121600</td></tr><tr><td>5</td><td>tranche a-3 ( 5.93% ( 5.93 % ) ) due june 2022</td><td>114400</td></tr><tr><td>6</td><td>total senior secured transition bonds</td><td>$ 329500</td></tr></table> although the principal amount of each tranche is not due until the dates given above , entergy gulf states reconstruction funding expects to make principal payments on the bonds over the next five years in the amounts of $ 26 million for 2016 , $ 27.6 million for 2017 , $ 29.2 million for 2018 , $ 30.9 million for 2019 , and $ 32.8 million for 2020 . all of the scheduled principal payments for 2016 are for tranche a-2 , $ 23.6 million of the scheduled principal payments for 2017 are for tranche a-2 and $ 4 million of the scheduled principal payments for 2017 are for tranche a-3 . all of the scheduled principal payments for 2018-2020 are for tranche a-3 . with the proceeds , entergy gulf states reconstruction funding purchased from entergy texas the transition property , which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds . the transition property is reflected as a regulatory asset on the consolidated entergy texas balance sheet . the creditors of entergy texas do not have recourse to the assets or revenues of entergy gulf states reconstruction funding , including the transition property , and the creditors of entergy gulf states reconstruction funding do not have recourse to the assets or revenues of entergy texas . entergy texas has no payment obligations to entergy gulf states reconstruction funding except to remit transition charge collections. .\nQuestion: what was the total of principal payments in 2017, in thousands?\nAnswer: 27600.0\nQuestion: how much does this total represent, in percentage, in relation to the total senior secured transition bonds?\n" }, { "role": "agent", "content": "0.08376" } ]
CONVFINQA6326	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nperformance graph the graph below compares the cumulative total shareholder return on pmi's common stock with the cumulative total return for the same period of pmi's peer group and the s&p 500 index . the graph assumes the investment of $ 100 as of december 31 , 2012 , in pmi common stock ( at prices quoted on the new york stock exchange ) and each of the indices as of the market close and reinvestment of dividends on a quarterly basis . date pmi pmi peer group ( 1 ) s&p 500 index . <table class='wikitable'><tr><td>1</td><td>date</td><td>pmi</td><td>pmi peer group ( 1 )</td><td>s&p 500 index</td></tr><tr><td>2</td><td>december 31 2012</td><td>$ 100.00</td><td>$ 100.00</td><td>$ 100.00</td></tr><tr><td>3</td><td>december 31 2013</td><td>$ 108.50</td><td>$ 122.80</td><td>$ 132.40</td></tr><tr><td>4</td><td>december 31 2014</td><td>$ 106.20</td><td>$ 132.50</td><td>$ 150.50</td></tr><tr><td>5</td><td>december 31 2015</td><td>$ 120.40</td><td>$ 143.50</td><td>$ 152.60</td></tr><tr><td>6</td><td>december 31 2016</td><td>$ 130.80</td><td>$ 145.60</td><td>$ 170.80</td></tr><tr><td>7</td><td>december 31 2017</td><td>$ 156.80</td><td>$ 172.70</td><td>$ 208.10</td></tr></table> ( 1 ) the pmi peer group presented in this graph is the same as that used in the prior year , except reynolds american inc . was removed following the completion of its acquisition by british american tobacco p.l.c . on july 25 , 2017 . the pmi peer group was established based on a review of four characteristics : global presence ; a focus on consumer products ; and net revenues and a market capitalization of a similar size to those of pmi . the review also considered the primary international tobacco companies . as a result of this review , the following companies constitute the pmi peer group : altria group , inc. , anheuser-busch inbev sa/nv , british american tobacco p.l.c. , the coca-cola company , colgate-palmolive co. , diageo plc , heineken n.v. , imperial brands plc , japan tobacco inc. , johnson & johnson , kimberly-clark corporation , the kraft-heinz company , mcdonald's corp. , mondel z international , inc. , nestl e9 s.a. , pepsico , inc. , the procter & gamble company , roche holding ag , and unilever nv and plc . note : figures are rounded to the nearest $ 0.10. .\nQuestion: what was the pmi share price on 12/31/13?\n" }, { "role": "agent", "content": "108.5" } ]
CONVFINQA9564	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\njpmorgan chase & co./2015 annual report 67 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co . ( 201cjpmorgan chase 201d or the 201cfirm 201d ) common stock with the cumulative return of the s&p 500 index , the kbw bank index and the s&p financial index . the s&p 500 index is a commonly referenced united states of america ( 201cu.s . 201d ) equity benchmark consisting of leading companies from different economic sectors . the kbw bank index seeks to reflect the performance of banks and thrifts that are publicly traded in the u.s . and is composed of 24 leading national money center and regional banks and thrifts . the s&p financial index is an index of 87 financial companies , all of which are components of the s&p 500 . the firm is a component of all three industry indices . the following table and graph assume simultaneous investments of $ 100 on december 31 , 2010 , in jpmorgan chase common stock and in each of the above indices . the comparison assumes that all dividends are reinvested . december 31 , ( in dollars ) 2010 2011 2012 2013 2014 2015 . <table class='wikitable'><tr><td>1</td><td>december 31 ( in dollars )</td><td>2010</td><td>2011</td><td>2012</td><td>2013</td><td>2014</td><td>2015</td></tr><tr><td>2</td><td>jpmorgan chase</td><td>$ 100.00</td><td>$ 80.03</td><td>$ 108.98</td><td>$ 148.98</td><td>$ 163.71</td><td>$ 177.40</td></tr><tr><td>3</td><td>kbw bank index</td><td>100.00</td><td>76.82</td><td>102.19</td><td>140.77</td><td>153.96</td><td>154.71</td></tr><tr><td>4</td><td>s&p financial index</td><td>100.00</td><td>82.94</td><td>106.78</td><td>144.79</td><td>166.76</td><td>164.15</td></tr><tr><td>5</td><td>s&p 500 index</td><td>100.00</td><td>102.11</td><td>118.44</td><td>156.78</td><td>178.22</td><td>180.67</td></tr></table> december 31 , ( in dollars ) .\nQuestion: what was the price for the s&p financial index in 2015?\n" }, { "role": "agent", "content": "164.15" } ]
CONVFINQA417	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nissuer purchases of equity securities the following table provides information about our repurchases of common stock during the three-month period ended december 31 , 2012 . period total number of shares purchased average price paid per total number of shares purchased as part of publicly announced program ( a ) amount available for future share repurchases the program ( b ) ( in millions ) . <table class='wikitable'><tr><td>1</td><td>period</td><td>total number of shares purchased</td><td>average price paid per share</td><td>total number of shares purchased as part of publicly announced program ( a )</td><td>amount available for future share repurchases under the program ( b ) ( in millions )</td></tr><tr><td>2</td><td>october 1 2012 2013 october 28 2012</td><td>842445</td><td>$ 93.38</td><td>842445</td><td>$ 2522</td></tr><tr><td>3</td><td>october 29 2012 2013 november 25 2012</td><td>872973</td><td>90.86</td><td>872973</td><td>2443</td></tr><tr><td>4</td><td>november 26 2012 2013 december 31 2012</td><td>1395288</td><td>92.02</td><td>1395288</td><td>2315</td></tr><tr><td>5</td><td>total</td><td>3110706</td><td>$ 92.07</td><td>3110706</td><td>$ 2315</td></tr></table> ( a ) we repurchased a total of 3.1 million shares of our common stock for $ 286 million during the quarter ended december 31 , 2012 under a share repurchase program that we announced in october 2010 . ( b ) our board of directors has approved a share repurchase program for the repurchase of our common stock from time-to-time , authorizing an amount available for share repurchases of $ 6.5 billion . under the program , management has discretion to determine the dollar amount of shares to be repurchased and the timing of any repurchases in compliance with applicable law and regulation . the program does not have an expiration date . as of december 31 , 2012 , we had repurchased a total of 54.3 million shares under the program for $ 4.2 billion. .\nQuestion: what was the number of shares repurchased in october?\nAnswer: 842445.0\nQuestion: what was the average price per share?\nAnswer: 93.38\nQuestion: what is the total value of shares repurchased?\nAnswer: 78667514.1\nQuestion: what is that number in millions?\n" }, { "role": "agent", "content": "78.66751" } ]
CONVFINQA1071	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nincreased by $ 105.6 million , or 3.4% ( 3.4 % ) , from 2006 to 2007 . the following table reflects the components of our revenue growth for the years ended december 31 , 2008 , 2007 and 2006: . <table class='wikitable'><tr><td>1</td><td>-</td><td>2008</td><td>2007</td><td>2006</td></tr><tr><td>2</td><td>core price</td><td>4.0% ( 4.0 % )</td><td>4.2% ( 4.2 % )</td><td>3.4% ( 3.4 % )</td></tr><tr><td>3</td><td>fuel surcharges</td><td>1.8</td><td>.2</td><td>1.1</td></tr><tr><td>4</td><td>environmental fees</td><td>.4</td><td>.2</td><td>.4</td></tr><tr><td>5</td><td>recycling commodities</td><td>.1</td><td>.9</td><td>-.1 ( .1 )</td></tr><tr><td>6</td><td>total price</td><td>6.3</td><td>5.5</td><td>4.8</td></tr><tr><td>7</td><td>core volume ( 1 )</td><td>-3.9 ( 3.9 )</td><td>-1.5 ( 1.5 )</td><td>2.4</td></tr><tr><td>8</td><td>non-core volume</td><td>.1</td><td>-.1 ( .1 )</td><td>2014</td></tr><tr><td>9</td><td>total volume</td><td>-3.8 ( 3.8 )</td><td>-1.6 ( 1.6 )</td><td>2.4</td></tr><tr><td>10</td><td>total internal growth</td><td>2.5</td><td>3.9</td><td>7.2</td></tr><tr><td>11</td><td>acquisitions net of divestitures ( 2 )</td><td>13.4</td><td>-.5 ( .5 )</td><td>-.1 ( .1 )</td></tr><tr><td>12</td><td>taxes ( 3 )</td><td>.1</td><td>2014</td><td>.1</td></tr><tr><td>13</td><td>total revenue growth</td><td>16.0% ( 16.0 % )</td><td>3.4% ( 3.4 % )</td><td>7.2% ( 7.2 % )</td></tr></table> ( 1 ) core volume growth for the year ended december 31 , 2006 includes .8% ( .8 % ) associated with hauling waste from the city of toronto to one of our landfills in michigan . this hauling service is provided to the city at a rate that approximates our cost . ( 2 ) includes the impact of the acquisition of allied in december 2008 . ( 3 ) represents new taxes levied on landfill volumes in certain states that are passed on to customers . 25aa 2008 : during the year ended december 31 , 2008 , our core revenue growth continued to benefit from a broad-based pricing initiative . in addition , 14.7% ( 14.7 % ) of our revenue growth is due to our acquisition of allied in december 2008 . revenue growth also benefited from higher fuel surcharges and environmental fees . however , during 2008 we experienced lower prices for commodities . we also experienced a decrease in core volumes primarily due to lower commercial and industrial collection volumes and lower landfill volumes resulting from the slowdown in the economy . we expect to continue to experience lower volumes until economic conditions improve . 25aa 2007 : during the year ended december 31 , 2007 , our revenue growth from core pricing continued to benefit from a broad-based pricing initiative . our revenue growth also benefited from higher prices for commodities . however , we experienced a decrease in core volume growth primarily due to lower industrial collection and landfill volumes resulting from the slowdown in residential construction . 25aa 2006 : during the year ended december 31 , 2006 , our revenue growth continued to benefit from our broad-based pricing initiative . we experienced core volume growth in our collection and landfill lines of business . this core volume growth was partially offset by hurricane clean-up efforts that took place during the fourth quarter of 2005 . 25aa 2009 outlook : we anticipate internal revenue from core operations to decrease approximately 4.0% ( 4.0 % ) during 2009 . this decrease is the expected net of growth in core pricing of approximately 4.0% ( 4.0 % ) and an expected decrease in volume of approximately 8.0% ( 8.0 % ) . our projections assume no deterioration or improvement in the overall economy from that experienced during the fourth quarter of 2008 . however , our internal growth may remain flat or may decline in 2009 depending on economic conditions and our success in implementing pricing initiatives . cost of operations . cost of operations was $ 2.4 billion , $ 2.0 billion and $ 1.9 billion , or , as a percentage of revenue , 65.6% ( 65.6 % ) , 63.1% ( 63.1 % ) and 62.7% ( 62.7 % ) , for the years ended december 31 , 2008 , 2007 and 2006 , respectively . the increase in cost of operations in aggregate dollars for the year ended december 31 , 2008 versus the comparable 2007 period is primarily a result of our acquisition of allied in december 2008 . the remaining increase in cost of operations in aggregate dollars and the increase as a percentage of revenue is primarily due to charges we recorded during 2008 of $ 98.0 million related to estimated costs to comply with f&os issued by the oepa and the aoc issued by the epa in response to environmental conditions at our countywide facility in ohio , $ 21.9 million related to environmental conditions at our closed disposal facility %%transmsg* transmitting job : p14076 pcn : 048000000 *%%pcmsg\|46 \|00044\|yes\|no\|02/28/2009 17:08\|0\|0\|page is valid , no graphics -- color : d\| .\nQuestion: what is the cost of operations in 2008?\nAnswer: 2.4\nQuestion: what about in 2007?\nAnswer: 2.0\nQuestion: what is the total cost of operations in 2007 and 2008?\nAnswer: 4.4\nQuestion: what is the cost of operations in 2006?\nAnswer: 1.9\nQuestion: what is the total for three years?\nAnswer: 6.3\nQuestion: what is the average for total cost of operations for three years?\n" }, { "role": "agent", "content": "2.1" } ]
CONVFINQA6038	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nmanagement 2019s discussion and analysis of financial conditionand results of operations d u k e r e a l t y c o r p o r a t i o n 1 1 2 0 0 2 a n n u a l r e p o r t 2022 interest expense on the company 2019s secured debt decreased from $ 30.8 million in 2001 to $ 22.9 million in 2002 as the company paid off $ 13.5 million of secured debt throughout 2002 and experienced lower borrowings on its secured line of credit during 2002 compared to 2001 . additionally , the company paid off approximately $ 128.5 million of secured debt throughout 2001 . 2022 interest expense on the company 2019s $ 500 million unsecured line of credit decreased by approximately $ 1.1 million in 2002 compared to 2001 as the company maintained lower balances on the line throughout most of 2002 . as a result of the above-mentioned items , earnings from rental operations decreased $ 35.0 million from $ 254.1 million for the year ended december 31 , 2001 , to $ 219.1 million for the year ended december 31 , 2002 . service operations service operations primarily consist of leasing , management , construction and development services for joint venture properties and properties owned by third parties . service operations revenues decreased from $ 80.5 million for the year ended december 31 , 2001 , to $ 68.6 million for the year ended december 31 , 2002 . the prolonged effect of the slow economy has been the primary factor in the overall decrease in revenues . the company experienced a decrease of $ 12.7 million in net general contractor revenues because of a decrease in the volume of construction in 2002 , compared to 2001 , as well as slightly lower profit margins . property management , maintenance and leasing fee revenues decreased from $ 22.8 million in 2001 to $ 14.3 million in 2002 primarily because of a decrease in landscaping maintenance revenue resulting from the sale of the landscaping operations in the third quarter of 2001 . construction management and development activity income represents construction and development fees earned on projects where the company acts as the construction manager along with profits from the company 2019s held for sale program whereby the company develops a property for sale upon completion . the increase in revenues of $ 10.3 million in 2002 is primarily due to an increase in volume of the sale of properties from the held for sale program . service operations expenses decreased from $ 45.3 million in 2001 to $ 38.3 million in 2002 . the decrease is attributable to the decrease in construction and development activity and the reduced overhead costs as a result of the sale of the landscape business in 2001 . as a result of the above , earnings from service operations decreased from $ 35.1 million for the year ended december 31 , 2001 , to $ 30.3 million for the year ended december 31 , 2002 . general and administrative expense general and administrative expense increased from $ 15.6 million in 2001 to $ 25.4 million for the year ended december 31 , 2002 . the company has been successful reducing total operating and administration costs ; however , reduced construction and development activities have resulted in a greater amount of overhead being charged to general and administrative expense instead of being capitalized into development projects or charged to service operations . other income and expenses gain on sale of land and depreciable property dispositions , net of impairment adjustment , is comprised of the following amounts in 2002 and 2001 : gain on sales of depreciable properties represent sales of previously held for investment rental properties . beginning in 2000 and continuing into 2001 , the company pursued favorable opportunities to dispose of real estate assets that no longer met long-term investment objectives . in 2002 , the company significantly reduced this property sales program until the business climate improves and provides better investment opportunities for the sale proceeds . gain on land sales represents sales of undeveloped land owned by the company . the company pursues opportunities to dispose of land in markets with a high concentration of undeveloped land and those markets where the land no longer meets strategic development plans of the company . the company recorded a $ 9.4 million adjustment in 2002 associated with six properties determined to have an impairment of book value . the company has analyzed each of its in-service properties and has determined that there are no additional valuation adjustments that need to be made as of december 31 , 2002 . the company recorded an adjustment of $ 4.8 million in 2001 for one property that the company had contracted to sell for a price less than its book value . other revenue for the year ended december 31 , 2002 , includes $ 1.4 million of gain related to an interest rate swap that did not qualify for hedge accounting. . <table class='wikitable'><tr><td>1</td><td>-</td><td>2002</td><td>2001</td></tr><tr><td>2</td><td>gain on sales of depreciable properties</td><td>$ 4491</td><td>$ 45428</td></tr><tr><td>3</td><td>gain on land sales</td><td>4478</td><td>5080</td></tr><tr><td>4</td><td>impairment adjustment</td><td>-9379 ( 9379 )</td><td>-4800 ( 4800 )</td></tr><tr><td>5</td><td>total</td><td>$ -410 ( 410 )</td><td>$ 45708</td></tr></table> .\nQuestion: what was the change in the gain on land sales from 2001 to 2002?\nAnswer: -602.0\nQuestion: and what was that gain in 2001?\nAnswer: 5080.0\nQuestion: how much, then, does that change represent in relation to this 2001 gain?\nAnswer: -0.1185\nQuestion: and what is that in percentage?\n" }, { "role": "agent", "content": "-11.85039" } ]
CONVFINQA3384	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nthe pnc financial services group , inc . 2013 form 10-k 29 part ii item 5 2013 market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities ( a ) ( 1 ) our common stock is listed on the new york stock exchange and is traded under the symbol 201cpnc . 201d at the close of business on february 15 , 2019 , there were 53986 common shareholders of record . holders of pnc common stock are entitled to receive dividends when declared by our board of directors out of funds legally available for this purpose . our board of directors may not pay or set apart dividends on the common stock until dividends for all past dividend periods on any series of outstanding preferred stock and certain outstanding capital securities issued by the parent company have been paid or declared and set apart for payment . the board of directors presently intends to continue the policy of paying quarterly cash dividends . the amount of any future dividends will depend on economic and market conditions , our financial condition and operating results , and other factors , including contractual restrictions and applicable government regulations and policies ( such as those relating to the ability of bank and non-bank subsidiaries to pay dividends to the parent company and regulatory capital limitations ) . the amount of our dividend is also currently subject to the results of the supervisory assessment of capital adequacy and capital planning processes undertaken by the federal reserve and our primary bank regulators as part of the comprehensive capital analysis and review ( ccar ) process as described in the supervision and regulation section in item 1 of this report . the federal reserve has the power to prohibit us from paying dividends without its approval . for further information concerning dividend restrictions and other factors that could limit our ability to pay dividends , as well as restrictions on loans , dividends or advances from bank subsidiaries to the parent company , see the supervision and regulation section in item 1 , item 1a risk factors , the liquidity and capital management portion of the risk management section in item 7 , and note 10 borrowed funds , note 15 equity and note 18 regulatory matters in the notes to consolidated financial statements in item 8 of this report , which we include here by reference . we include here by reference the information regarding our compensation plans under which pnc equity securities are authorized for issuance as of december 31 , 2018 in the table ( with introductory paragraph and notes ) in item 12 of this report . our stock transfer agent and registrar is : computershare trust company , n.a . 250 royall street canton , ma 02021 800-982-7652 www.computershare.com/pnc registered shareholders may contact computershare regarding dividends and other shareholder services . we include here by reference the information that appears under the common stock performance graph caption at the end of this item 5 . ( a ) ( 2 ) none . ( b ) not applicable . ( c ) details of our repurchases of pnc common stock during the fourth quarter of 2018 are included in the following table : in thousands , except per share data 2018 period total shares purchased ( a ) average price paid per share total shares purchased as part of publicly announced programs ( b ) maximum number of shares that may yet be purchased under the programs ( b ) . <table class='wikitable'><tr><td>1</td><td>2018 period</td><td>total shares purchased ( a )</td><td>average price paid per share</td><td>total shares purchased as part of publicly announced programs ( b )</td><td>maximum number of shares that may yet be purchased under the programs ( b )</td></tr><tr><td>2</td><td>october 1 2013 31</td><td>1204</td><td>$ 128.43</td><td>1189</td><td>25663</td></tr><tr><td>3</td><td>november 1 2013 30</td><td>1491</td><td>$ 133.79</td><td>1491</td><td>24172</td></tr><tr><td>4</td><td>december 1 2013 31</td><td>3458</td><td>$ 119.43</td><td>3458</td><td>20714</td></tr><tr><td>5</td><td>total</td><td>6153</td><td>$ 124.67</td><td>-</td><td>-</td></tr></table> ( a ) includes pnc common stock purchased in connection with our various employee benefit plans generally related to forfeitures of unvested restricted stock awards and shares used to cover employee payroll tax withholding requirements . note 11 employee benefit plans and note 12 stock based compensation plans in the notes to consolidated financial statements in item 8 of this report include additional information regarding our employee benefit and equity compensation plans that use pnc common stock . ( b ) on march 11 , 2015 , we announced that our board of directors approved a stock repurchase program authorization in the amount of 100 million shares of pnc common stock , effective april 1 , 2015 . repurchases are made in open market or privately negotiated transactions and the timing and exact amount of common stock repurchases will depend on a number of factors including , among others , market and general economic conditions , regulatory capital considerations , alternative uses of capital , the potential impact on our credit ratings , and contractual and regulatory limitations , including the results of the supervisory assessment of capital adequacy and capital planning processes undertaken by the federal reserve as part of the ccar process . in june 2018 , we announced share repurchase programs of up to $ 2.0 billion for the four quarter period beginning with the third quarter of 2018 , including repurchases of up to $ 300 million related to stock issuances under employee benefit plans , in accordance with pnc's 2018 capital plan . in november 2018 , we announced an increase to these previously announced programs in the amount of up to $ 900 million in additional common share repurchases . the aggregate repurchase price of shares repurchased during the fourth quarter of 2018 was $ .8 billion . see the liquidity and capital management portion of the risk management section in item 7 of this report for more information on the authorized share repurchase programs for the period july 1 , 2018 through june 30 , 2019 . http://www.computershare.com/pnc .\nQuestion: what is the number of shares purchased during october 2018?\nAnswer: 1204.0\nQuestion: at what average price?\nAnswer: 128.43\nQuestion: what is the total value of these shares?\nAnswer: 154629.72\nQuestion: what is the net change in the average share price from november to december 2018?\n" }, { "role": "agent", "content": "14.36" } ]
CONVFINQA10804	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\ncontracts as of december 31 , 2006 , which all mature in 2007 . forward contract notional amounts presented below are expressed in the stated currencies ( in thousands ) . forward currency contracts: . <table class='wikitable'><tr><td>1</td><td>-</td><td>( pay ) /receive</td></tr><tr><td>2</td><td>u.s . dollars</td><td>-114000 ( 114000 )</td></tr><tr><td>3</td><td>euros</td><td>-4472 ( 4472 )</td></tr><tr><td>4</td><td>singapore dollars</td><td>37180</td></tr><tr><td>5</td><td>canadian dollars</td><td>81234</td></tr><tr><td>6</td><td>malaysian ringgits</td><td>85963</td></tr></table> a movement of 10% ( 10 % ) in the value of the u.s . dollar against foreign currencies would impact our expected net earnings by approximately $ 0.1 million . item 8 . financial statements and supplementary data the financial statements and supplementary data required by this item are included herein , commencing on page f-1 . item 9 . changes in and disagreements with accountants on accounting and financial disclosure item 9a . controls and procedures ( a ) evaluation of disclosure controls and procedures our management , with the participation of our chief executive officer and chief financial officer , evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this report . based on that evaluation , the chief executive officer and chief financial officer concluded that our disclosure controls and procedures as of the end of the period covered by this report are functioning effectively to provide reasonable assurance that the information required to be disclosed by us in reports filed under the securities exchange act of 1934 is ( i ) recorded , processed , summarized and reported within the time periods specified in the sec 2019s rules and forms and ( ii ) accumulated and communicated to our management , including the chief executive officer and chief financial officer , as appropriate to allow timely decisions regarding disclosure . a controls system cannot provide absolute assurance , however , that the objectives of the controls system are met , and no evaluation of controls can provide absolute assurance that all control issues and instances of fraud , if any , within a company have been detected . ( b ) management 2019s report on internal control over financial reporting our management 2019s report on internal control over financial reporting is set forth on page f-2 of this annual report on form 10-k and is incorporated by reference herein . ( c ) change in internal control over financial reporting no change in our internal control over financial reporting occurred during our most recent fiscal quarter that has materially affected , or is reasonably likely to materially affect , our internal control over financial reporting . item 9b . other information .\nQuestion: what was the positive value of united states securities?\nAnswer: 114000.0\nQuestion: what is the positive value of euros?\n" }, { "role": "agent", "content": "4472.0" } ]
CONVFINQA998	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\npart ii , item 7 until maturity , effectively making this a us dollar denominated debt on which schlumberger will pay interest in us dollars at a rate of 4.74% ( 4.74 % ) . the proceeds from these notes were used to repay commercial paper borrowings . 0160 on april 20 , 2006 , the schlumberger board of directors approved a share repurchase program of up to 40 million shares of common stock to be acquired in the open market before april 2010 , subject to market conditions . this program was completed during the second quarter of 2008 . on april 17 , 2008 , the schlumberger board of directors approved an $ 8 billion share repurchase program for shares of schlumberger common stock , to be acquired in the open market before december 31 , 2011 , of which $ 1.43 billion had been repurchased as of december 31 , 2009 . the following table summarizes the activity under these share repurchase programs during 2009 , 2008 and ( stated in thousands except per share amounts and prices ) total cost of shares purchased total number of shares purchased average price paid per share . <table class='wikitable'><tr><td>1</td><td>-</td><td>total cost of shares purchased</td><td>total number of shares purchased</td><td>average price paid per share</td></tr><tr><td>2</td><td>2009</td><td>$ 500097</td><td>7825.0</td><td>$ 63.91</td></tr><tr><td>3</td><td>2008</td><td>$ 1818841</td><td>21064.7</td><td>$ 86.35</td></tr><tr><td>4</td><td>2007</td><td>$ 1355000</td><td>16336.1</td><td>$ 82.95</td></tr></table> 0160 cash flow provided by operations was $ 5.3 billion in 2009 , $ 6.9 billion in 2008 and $ 6.3 billion in 2007 . the decline in cash flow from operations in 2009 as compared to 2008 was primarily driven by the decrease in net income experienced in 2009 and the significant pension plan contributions made during 2009 , offset by an improvement in working capital requirements . the improvement in 2008 as compared to 2007 was driven by the net income increase experienced in 2008 offset by required investments in working capital . the reduction in cash flows experienced by some of schlumberger 2019s customers as a result of global economic conditions could have significant adverse effects on their financial condition . this could result in , among other things , delay in , or nonpayment of , amounts that are owed to schlumberger , which could have a material adverse effect on schlumberger 2019s results of operations and cash flows . at times in recent quarters , schlumberger has experienced delays in payments from certain of its customers . schlumberger operates in approximately 80 countries . at december 31 , 2009 , only three of those countries individually accounted for greater than 5% ( 5 % ) of schlumberger 2019s accounts receivable balance of which only one represented greater than 0160 during 2008 and 2007 , schlumberger announced that its board of directors had approved increases in the quarterly dividend of 20% ( 20 % ) and 40% ( 40 % ) , respectively . total dividends paid during 2009 , 2008 and 2007 were $ 1.0 billion , $ 964 million and $ 771 million , respectively . 0160 capital expenditures were $ 2.4 billion in 2009 , $ 3.7 billion in 2008 and $ 2.9 billion in 2007 . capital expenditures in 2008 and 2007 reflected the record activity levels experienced in those years . the decrease in capital expenditures in 2009 as compared to 2008 is primarily due to the significant activity decline during 2009 . oilfield services capital expenditures are expected to approach $ 2.4 billion for the full year 2010 as compared to $ 1.9 billion in 2009 and $ 3.0 billion in 2008 . westerngeco capital expenditures are expected to approach $ 0.3 billion for the full year 2010 as compared to $ 0.5 billion in 2009 and $ 0.7 billion in 2008. .\nQuestion: what was the change in average price per share from 2007 to 2009?\nAnswer: -19.04\nQuestion: what was the average price per share in 2007?\nAnswer: 82.95\nQuestion: what was the percent change?\n" }, { "role": "agent", "content": "-0.22954" } ]
CONVFINQA708	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nrecourse and repurchase obligations as discussed in note 3 loan sale and servicing activities and variable interest entities , pnc has sold commercial mortgage , residential mortgage and home equity loans directly or indirectly through securitization and loan sale transactions in which we have continuing involvement . one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets . commercial mortgage loan recourse obligations we originate , close and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s delegated underwriting and servicing ( dus ) program . we participated in a similar program with the fhlmc . under these programs , we generally assume up to a one-third pari passu risk of loss on unpaid principal balances through a loss share arrangement . at december 31 , 2013 and december 31 , 2012 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 11.7 billion and $ 12.8 billion , respectively . the potential maximum exposure under the loss share arrangements was $ 3.6 billion at december 31 , 2013 and $ 3.9 billion at december 31 , 2012 . we maintain a reserve for estimated losses based upon our exposure . the reserve for losses under these programs totaled $ 33 million and $ 43 million as of december 31 , 2013 and december 31 , 2012 , respectively , and is included in other liabilities on our consolidated balance sheet . if payment is required under these programs , we would not have a contractual interest in the collateral underlying the mortgage loans on which losses occurred , although the value of the collateral is taken into account in determining our share of such losses . our exposure and activity associated with these recourse obligations are reported in the corporate & institutional banking segment . table 152 : analysis of commercial mortgage recourse obligations . <table class='wikitable'><tr><td>1</td><td>in millions</td><td>2013</td><td>2012</td></tr><tr><td>2</td><td>january 1</td><td>$ 43</td><td>$ 47</td></tr><tr><td>3</td><td>reserve adjustments net</td><td>-9 ( 9 )</td><td>4</td></tr><tr><td>4</td><td>losses 2013 loan repurchases and settlements</td><td>-1 ( 1 )</td><td>-8 ( 8 )</td></tr><tr><td>5</td><td>december 31</td><td>$ 33</td><td>$ 43</td></tr></table> residential mortgage loan and home equity repurchase obligations while residential mortgage loans are sold on a non-recourse basis , we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors . these loan repurchase obligations primarily relate to situations where pnc is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreements . for additional information on loan sales see note 3 loan sale and servicing activities and variable interest entities . our historical exposure and activity associated with agency securitization repurchase obligations has primarily been related to transactions with fnma and fhlmc , as indemnification and repurchase losses associated with fha and va-insured and uninsured loans pooled in gnma securitizations historically have been minimal . repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment . in the fourth quarter of 2013 , pnc reached agreements with both fnma and fhlmc to resolve their repurchase claims with respect to loans sold between 2000 and 2008 . pnc paid a total of $ 191 million related to these settlements . pnc 2019s repurchase obligations also include certain brokered home equity loans/lines of credit that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition of national city . pnc is no longer engaged in the brokered home equity lending business , and our exposure under these loan repurchase obligations is limited to repurchases of loans sold in these transactions . repurchase activity associated with brokered home equity loans/lines of credit is reported in the non-strategic assets portfolio segment . indemnification and repurchase liabilities are initially recognized when loans are sold to investors and are subsequently evaluated by management . initial recognition and subsequent adjustments to the indemnification and repurchase liability for the sold residential mortgage portfolio are recognized in residential mortgage revenue on the consolidated income statement . since pnc is no longer engaged in the brokered home equity lending business , only subsequent adjustments are recognized to the home equity loans/lines indemnification and repurchase liability . these adjustments are recognized in other noninterest income on the consolidated income statement . 214 the pnc financial services group , inc . 2013 form 10-k .\nQuestion: what is the potential maximum exposure under the loss share arrangements in 2012?\n" }, { "role": "agent", "content": "3.6" } ]
CONVFINQA5684	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nunited parcel service , inc . and subsidiaries notes to consolidated financial statements capital lease obligations we have certain property , plant and equipment subject to capital leases . some of the obligations associated with these capital leases have been legally defeased . the recorded value of our property , plant and equipment subject to capital leases is as follows as of december 31 ( in millions ) : . <table class='wikitable'><tr><td>1</td><td>-</td><td>2015</td><td>2014</td></tr><tr><td>2</td><td>vehicles</td><td>$ 74</td><td>$ 86</td></tr><tr><td>3</td><td>aircraft</td><td>2289</td><td>2289</td></tr><tr><td>4</td><td>buildings</td><td>207</td><td>197</td></tr><tr><td>5</td><td>accumulated amortization</td><td>-849 ( 849 )</td><td>-781 ( 781 )</td></tr><tr><td>6</td><td>property plant and equipment subject to capital leases</td><td>$ 1721</td><td>$ 1791</td></tr></table> these capital lease obligations have principal payments due at various dates from 2016 through 3005 . facility notes and bonds we have entered into agreements with certain municipalities to finance the construction of , or improvements to , facilities that support our u.s . domestic package and supply chain & freight operations in the united states . these facilities are located around airport properties in louisville , kentucky ; dallas , texas ; and philadelphia , pennsylvania . under these arrangements , we enter into a lease or loan agreement that covers the debt service obligations on the bonds issued by the municipalities , as follows : 2022 bonds with a principal balance of $ 149 million issued by the louisville regional airport authority associated with our worldport facility in louisville , kentucky . the bonds , which are due in january 2029 , bear interest at a variable rate , and the average interest rates for 2015 and 2014 were 0.03% ( 0.03 % ) and 0.05% ( 0.05 % ) , respectively . 2022 bonds with a principal balance of $ 42 million and due in november 2036 issued by the louisville regional airport authority associated with our air freight facility in louisville , kentucky . the bonds bear interest at a variable rate , and the average interest rates for 2015 and 2014 were 0.02% ( 0.02 % ) and 0.05% ( 0.05 % ) , respectively . 2022 bonds with a principal balance of $ 29 million issued by the dallas / fort worth international airport facility improvement corporation associated with our dallas , texas airport facilities . the bonds are due in may 2032 and bear interest at a variable rate , however the variable cash flows on the obligation have been swapped to a fixed 5.11% ( 5.11 % ) . 2022 bonds with a principal balance of $ 100 million issued by the delaware county , pennsylvania industrial development authority associated with our philadelphia , pennsylvania airport facilities . the bonds , which were due in december 2015 , had a variable interest rate , and the average interest rates for 2015 and 2014 were 0.02% ( 0.02 % ) and 0.04% ( 0.04 % ) , respectively . as of december 2015 , these $ 100 million bonds were repaid in full . 2022 in september 2015 , we entered into an agreement with the delaware county , pennsylvania industrial development authority , associated with our philadelphia , pennsylvania airport facilities , for bonds issued with a principal balance of $ 100 million . these bonds , which are due september 2045 , bear interest at a variable rate . the average interest rate for 2015 was 0.00% ( 0.00 % ) . pound sterling notes the pound sterling notes consist of two separate tranches , as follows : 2022 notes with a principal amount of a366 million accrue interest at a 5.50% ( 5.50 % ) fixed rate , and are due in february 2031 . these notes are not callable . 2022 notes with a principal amount of a3455 million accrue interest at a 5.125% ( 5.125 % ) fixed rate , and are due in february 2050 . these notes are callable at our option at a redemption price equal to the greater of 100% ( 100 % ) of the principal amount and accrued interest , or the sum of the present values of the remaining scheduled payout of principal and interest thereon discounted to the date of redemption at a benchmark u.k . government bond yield plus 15 basis points and accrued interest. .\nQuestion: what is the net change in property plant and equipment subject to capital leases from 2014 to 2015?\nAnswer: -70.0\nQuestion: what is the balance of capital lease related to aircrafts in 2015?\nAnswer: 2289.0\nQuestion: what about in 2014?\nAnswer: 2289.0\nQuestion: what is the net change?\n" }, { "role": "agent", "content": "0.0" } ]
CONVFINQA10629	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nthe following table details the growth in global weighted average berths and the global , north american , european and asia/pacific cruise guests over the past five years ( in thousands , except berth data ) : weighted- average supply of berths marketed globally ( 1 ) caribbean cruises ltd . total berths ( 2 ) global cruise guests ( 1 ) american cruise guests ( 1 ) ( 3 ) european cruise guests ( 1 ) ( 4 ) asia/pacific cruise guests ( 1 ) ( 5 ) . <table class='wikitable'><tr><td>1</td><td>year</td><td>weighted-averagesupply ofberthsmarketedglobally ( 1 )</td><td>royal caribbean cruises ltd . total berths ( 2 )</td><td>globalcruiseguests ( 1 )</td><td>north american cruise guests ( 1 ) ( 3 )</td><td>european cruise guests ( 1 ) ( 4 )</td><td>asia/pacific cruise guests ( 1 ) ( 5 )</td></tr><tr><td>2</td><td>2012</td><td>425000</td><td>98650</td><td>20813</td><td>11641</td><td>6225</td><td>1474</td></tr><tr><td>3</td><td>2013</td><td>432000</td><td>98750</td><td>21343</td><td>11710</td><td>6430</td><td>2045</td></tr><tr><td>4</td><td>2014</td><td>448000</td><td>105750</td><td>22039</td><td>12269</td><td>6387</td><td>2382</td></tr><tr><td>5</td><td>2015</td><td>469000</td><td>112700</td><td>23000</td><td>12004</td><td>6587</td><td>3129</td></tr><tr><td>6</td><td>2016</td><td>493000</td><td>123270</td><td>24000</td><td>12581</td><td>6542</td><td>3636</td></tr></table> _______________________________________________________________________________ ( 1 ) source : our estimates of the number of global cruise guests and the weighted-average supply of berths marketed globally are based on a combination of data that we obtain from various publicly available cruise industry trade information sources . we use data obtained from seatrade insider , cruise industry news and company press releases to estimate weighted-average supply of berths and clia and g.p . wild to estimate cruise guest information . in addition , our estimates incorporate our own statistical analysis utilizing the same publicly available cruise industry data as a base . ( 2 ) total berths include our berths related to our global brands and partner brands . ( 3 ) our estimates include the united states and canada . ( 4 ) our estimates include european countries relevant to the industry ( e.g. , nordics , germany , france , italy , spain and the united kingdom ) . ( 5 ) our estimates include the southeast asia ( e.g. , singapore , thailand and the philippines ) , east asia ( e.g. , china and japan ) , south asia ( e.g. , india and pakistan ) and oceanian ( e.g. , australia and fiji islands ) regions . north america the majority of industry cruise guests are sourced from north america , which represented approximately 52% ( 52 % ) of global cruise guests in 2016 . the compound annual growth rate in cruise guests sourced from this market was approximately 2% ( 2 % ) from 2012 to 2016 . europe industry cruise guests sourced from europe represented approximately 27% ( 27 % ) of global cruise guests in 2016 . the compound annual growth rate in cruise guests sourced from this market was approximately 1% ( 1 % ) from 2012 to 2016 . asia/pacific industry cruise guests sourced from the asia/pacific region represented approximately 15% ( 15 % ) of global cruise guests in 2016 . the compound annual growth rate in cruise guests sourced from this market was approximately 25% ( 25 % ) from 2012 to 2016 . the asia/pacific region is experiencing the highest growth rate of the major regions , although it will continue to represent a relatively small sector compared to north america . competition we compete with a number of cruise lines . our principal competitors are carnival corporation & plc , which owns , among others , aida cruises , carnival cruise line , costa cruises , cunard line , holland america line , p&o cruises , princess cruises and seabourn ; disney cruise line ; msc cruises ; and norwegian cruise line holdings ltd , which owns norwegian cruise line , oceania cruises and regent seven seas cruises . cruise lines compete with .\nQuestion: what is the net change in weighted-average supply of berths market ed globally from 2012 to 2016?\nAnswer: 68000.0\nQuestion: what percentage change does this represent?\n" }, { "role": "agent", "content": "0.16" } ]
CONVFINQA9936	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\npart i item 1 . business our company founded in 1886 , american water works company , inc . ( the 201ccompany 201d or 201camerican water 201d ) is a holding company incorporated in delaware . american water is the largest and most geographically diverse investor owned publicly-traded united states water and wastewater utility company , as measured by both operating revenues and population served . we employ approximately 6700 professionals who provide drinking water , wastewater and other related services to an estimated 15 million people in 47 states , the district of columbia and ontario , canada . operating segments we conduct our business primarily through our regulated businesses segment . we also operate several market-based businesses that provide a broad range of related and complementary water and wastewater services , which include four operating segments that individually do not meet the criteria of a reportable segment in accordance with generally accepted accounting principles in the united states ( 201cgaap 201d ) . these four non- reportable operating segments are collectively presented as our 201cmarket-based businesses , 201d which is consistent with how management assesses the results of these businesses . additional information can be found in item 7 2014management 2019s discussion and analysis of financial condition and results of operations and note 19 2014segment information in the notes to consolidated financial statements . regulated businesses our primary business involves the ownership of subsidiaries that provide water and wastewater utility services to residential , commercial , industrial and other customers , including sale for resale and public authority customers . our subsidiaries that provide these services operate in approximately 1600 communities in 16 states in the united states and are generally subject to regulation by certain state commissions or other entities engaged in utility regulation , referred to as public utility commissions or ( 201cpucs 201d ) . the federal and state governments also regulate environmental , health and safety , and water quality matters . we report the results of the services provided by our utilities in our regulated businesses segment . our regulated businesses segment 2019s operating revenues were $ 2743 million for 2015 , $ 2674 million for 2014 and $ 2594 million for 2013 , accounting for 86.8% ( 86.8 % ) , 88.8% ( 88.8 % ) and 90.1% ( 90.1 % ) , respectively , of total operating revenues for the same periods . the following table summarizes our regulated businesses 2019 operating revenues , number of customers and estimated population served by state , each as of december 31 , 2015 : operating revenues ( in millions ) % ( % ) of total number of customers % ( % ) of total estimated population served ( in millions ) % ( % ) of total . <table class='wikitable'><tr><td>1</td><td>new jersey</td><td>operatingrevenues ( in millions ) $ 704</td><td>% ( % ) of total 25.7% ( 25.7 % )</td><td>number ofcustomers 660580</td><td>% ( % ) of total 20.3% ( 20.3 % )</td><td>estimatedpopulationserved ( in millions ) 2.7</td><td>% ( % ) of total 22.3% ( 22.3 % )</td></tr><tr><td>2</td><td>pennsylvania</td><td>614</td><td>22.4% ( 22.4 % )</td><td>672407</td><td>20.7% ( 20.7 % )</td><td>2.3</td><td>19.0% ( 19.0 % )</td></tr><tr><td>3</td><td>illinois ( a )</td><td>270</td><td>9.8% ( 9.8 % )</td><td>313058</td><td>9.6% ( 9.6 % )</td><td>1.3</td><td>10.7% ( 10.7 % )</td></tr><tr><td>4</td><td>missouri</td><td>269</td><td>9.8% ( 9.8 % )</td><td>473245</td><td>14.5% ( 14.5 % )</td><td>1.5</td><td>12.4% ( 12.4 % )</td></tr><tr><td>5</td><td>indiana</td><td>206</td><td>7.5% ( 7.5 % )</td><td>295994</td><td>9.1% ( 9.1 % )</td><td>1.3</td><td>10.7% ( 10.7 % )</td></tr><tr><td>6</td><td>california</td><td>198</td><td>7.2% ( 7.2 % )</td><td>174942</td><td>5.4% ( 5.4 % )</td><td>0.6</td><td>5.0% ( 5.0 % )</td></tr><tr><td>7</td><td>west virginia ( b )</td><td>129</td><td>4.7% ( 4.7 % )</td><td>169037</td><td>5.2% ( 5.2 % )</td><td>0.6</td><td>5.0% ( 5.0 % )</td></tr><tr><td>8</td><td>subtotal ( top seven states )</td><td>2390</td><td>87.1% ( 87.1 % )</td><td>2759263</td><td>84.8% ( 84.8 % )</td><td>10.3</td><td>85.1% ( 85.1 % )</td></tr><tr><td>9</td><td>other ( c )</td><td>353</td><td>12.9% ( 12.9 % )</td><td>493428</td><td>15.2% ( 15.2 % )</td><td>1.8</td><td>14.9% ( 14.9 % )</td></tr><tr><td>10</td><td>total regulated businesses</td><td>$ 2743</td><td>100.0% ( 100.0 % )</td><td>3252691</td><td>100.0% ( 100.0 % )</td><td>12.1</td><td>100.0% ( 100.0 % )</td></tr></table> ( a ) includes illinois-american water company and american lake water company . ( b ) includes west virginia-american water company and its subsidiary bluefield valley water works company . ( c ) includes data from our utilities in the following states : georgia , hawaii , iowa , kentucky , maryland , michigan , new york , tennessee and virginia. .\nQuestion: what is the estimated population served in missouri, in millions?\nAnswer: 1.5\nQuestion: and how much is that, not in millions?\n" }, { "role": "agent", "content": "1500000.0" } ]
CONVFINQA5825	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\ntable of contents ( 4 ) the increase in cash flows was primarily due to the timing of inventory purchases and longer payment terms with certain vendors . in order to manage our working capital and operating cash needs , we monitor our cash conversion cycle , defined as days of sales outstanding in accounts receivable plus days of supply in inventory minus days of purchases outstanding in accounts payable , based on a rolling three-month average . components of our cash conversion cycle are as follows: . <table class='wikitable'><tr><td>1</td><td>( in days )</td><td>december 31 , 2017</td><td>december 31 , 2016</td><td>december 31 , 2015</td></tr><tr><td>2</td><td>days of sales outstanding ( dso ) ( 1 )</td><td>52</td><td>51</td><td>48</td></tr><tr><td>3</td><td>days of supply in inventory ( dio ) ( 2 )</td><td>12</td><td>12</td><td>13</td></tr><tr><td>4</td><td>days of purchases outstanding ( dpo ) ( 3 )</td><td>-45 ( 45 )</td><td>-44 ( 44 )</td><td>-40 ( 40 )</td></tr><tr><td>5</td><td>cash conversion cycle</td><td>19</td><td>19</td><td>21</td></tr></table> ( 1 ) represents the rolling three-month average of the balance of accounts receivable , net at the end of the period , divided by average daily net sales for the same three-month period . also incorporates components of other miscellaneous receivables . ( 2 ) represents the rolling three-month average of the balance of merchandise inventory at the end of the period divided by average daily cost of sales for the same three-month period . ( 3 ) represents the rolling three-month average of the combined balance of accounts payable-trade , excluding cash overdrafts , and accounts payable-inventory financing at the end of the period divided by average daily cost of sales for the same three-month period . the cash conversion cycle was 19 days at december 31 , 2017 and 2016 . the increase in dso was primarily driven by higher net sales and related accounts receivable for third-party services such as saas , software assurance and warranties . these services have an unfavorable impact on dso as the receivable is recognized on the consolidated balance sheet on a gross basis while the corresponding sales amount in the consolidated statement of operations is recorded on a net basis . this also results in a favorable impact on dpo as the payable is recognized on the consolidated balance sheet without a corresponding cost of sales in the statement of operations because the cost paid to the vendor or third-party service provider is recorded as a reduction to net sales . in addition , dpo also increased due to the mix of payables with certain vendors that have longer payment terms . the cash conversion cycle was 19 and 21 days at december 31 , 2016 and 2015 , respectively . the increase in dso was primarily driven by higher net sales and related accounts receivable for third-party services such as saas , software assurance and warranties . these services have an unfavorable impact on dso as the receivable is recognized on the balance sheet on a gross basis while the corresponding sales amount in the statement of operations is recorded on a net basis . these services have a favorable impact on dpo as the payable is recognized on the balance sheet without a corresponding cost of sale in the statement of operations because the cost paid to the vendor or third-party service provider is recorded as a reduction to net sales . in addition to the impact of these services on dpo , dpo also increased due to the mix of payables with certain vendors that have longer payment terms . investing activities net cash used in investing activities increased $ 15 million in 2017 compared to 2016 . capital expenditures increased $ 17 million to $ 81 million from $ 64 million for 2017 and 2016 , respectively , primarily related to improvements to our information technology systems . net cash used in investing activities decreased $ 289 million in 2016 compared to 2015 . the decrease in cash used was primarily due to the completion of the acquisition of cdw uk in 2015 . additionally , capital expenditures decreased $ 26 million to $ 64 million from $ 90 million for 2016 and 2015 , respectively , primarily due to spending for our new office location in 2015 . financing activities net cash used in financing activities increased $ 514 million in 2017 compared to 2016 . the increase was primarily driven by changes in accounts payable-inventory financing , which resulted in an increase in cash used for financing activities of $ 228 million and by share repurchases during 2017 , which resulted in an increase in cash used for financing activities of $ 167 million . for more information on our share repurchase program , see part ii , item 5 , 201cmarket for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities . 201d the increase in cash used for accounts payable-inventory financing was primarily driven by the termination of one of our inventory financing agreements in the fourth quarter of 2016 , with amounts .\nQuestion: what is the cash conversion cycle in 2015?\nAnswer: 21.0\nQuestion: what about in 2017?\nAnswer: 19.0\nQuestion: what is the change in ash conversion cycle?\n" }, { "role": "agent", "content": "2.0" } ]
CONVFINQA9577	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\n2011 compared to 2010 mfc 2019s net sales for 2011 increased $ 533 million , or 8% ( 8 % ) , compared to 2010 . the increase was attributable to higher volume of about $ 420 million on air and missile defense programs ( primarily pac-3 and thaad ) ; and about $ 245 million from fire control systems programs primarily related to the sof clss program , which began late in the third quarter of 2010 . partially offsetting these increases were lower net sales due to decreased volume of approximately $ 75 million primarily from various services programs and approximately $ 20 million from tactical missile programs ( primarily mlrs and jassm ) . mfc 2019s operating profit for 2011 increased $ 96 million , or 10% ( 10 % ) , compared to 2010 . the increase was attributable to higher operating profit of about $ 60 million for air and missile defense programs ( primarily pac-3 and thaad ) as a result of increased volume and retirement of risks ; and approximately $ 25 million for various services programs . adjustments not related to volume , including net profit rate adjustments described above , were approximately $ 35 million higher in 2011 compared to 2010 . backlog backlog increased in 2012 compared to 2011 mainly due to increased orders and lower sales on fire control systems programs ( primarily lantirn ae and sniper ae ) and on various services programs , partially offset by lower orders and higher sales volume on tactical missiles programs . backlog increased in 2011 compared to 2010 primarily due to increased orders on air and missile defense programs ( primarily thaad ) . trends we expect mfc 2019s net sales for 2013 will be comparable with 2012 . we expect low double digit percentage growth in air and missile defense programs , offset by an expected decline in volume on logistics services programs . operating profit and margin are expected to be comparable with 2012 results . mission systems and training our mst business segment provides surface ship and submarine combat systems ; sea and land-based missile defense systems ; radar systems ; mission systems and sensors for rotary and fixed-wing aircraft ; littoral combat ships ; simulation and training services ; unmanned technologies and platforms ; ship systems integration ; and military and commercial training systems . mst 2019s major programs include aegis , mk-41 vertical launching system ( vls ) , tpq-53 radar system , mh-60 , lcs , and ptds . mst 2019s operating results included the following ( in millions ) : . <table class='wikitable'><tr><td>1</td><td>-</td><td>2012</td><td>2011</td><td>2010</td></tr><tr><td>2</td><td>net sales</td><td>$ 7579</td><td>$ 7132</td><td>$ 7443</td></tr><tr><td>3</td><td>operating profit</td><td>737</td><td>645</td><td>713</td></tr><tr><td>4</td><td>operating margins</td><td>9.7% ( 9.7 % )</td><td>9.0% ( 9.0 % )</td><td>9.6% ( 9.6 % )</td></tr><tr><td>5</td><td>backlog at year-end</td><td>10700</td><td>10500</td><td>10600</td></tr></table> 2012 compared to 2011 mst 2019s net sales for 2012 increased $ 447 million , or 6% ( 6 % ) , compared to 2011 . the increase in net sales for 2012 was attributable to higher volume and risk retirements of approximately $ 395 million from ship and aviation system programs ( primarily ptds ; lcs ; vls ; and mh-60 ) ; about $ 115 million for training and logistics solutions programs primarily due to net sales from sim industries , which was acquired in the fourth quarter of 2011 ; and approximately $ 30 million as a result of increased volume on integrated warfare systems and sensors programs ( primarily aegis ) . partially offsetting the increases were lower net sales of approximately $ 70 million from undersea systems programs due to lower volume on an international combat system program and towed array systems ; and about $ 25 million due to lower volume on various other programs . mst 2019s operating profit for 2012 increased $ 92 million , or 14% ( 14 % ) , compared to 2011 . the increase was attributable to higher operating profit of approximately $ 175 million from ship and aviation system programs , which reflects higher volume and risk retirements on certain programs ( primarily vls ; ptds ; mh-60 ; and lcs ) and reserves of about $ 55 million for contract cost matters on ship and aviation system programs recorded in the fourth quarter of 2011 ( including the terminated presidential helicopter program ) . partially offsetting the increase was lower operating profit of approximately $ 40 million from undersea systems programs due to reduced profit booking rates on certain programs and lower volume on an international combat system program and towed array systems ; and about $ 40 million due to lower volume on various other programs . adjustments not related to volume , including net profit booking rate adjustments and other matters described above , were approximately $ 150 million higher for 2012 compared to 2011. .\nQuestion: what was the operating profit for mst in 2011?\nAnswer: 645.0\nQuestion: and what was it in 2010?\nAnswer: 713.0\nQuestion: what was, then, the change over the year?\n" }, { "role": "agent", "content": "-68.0" } ]
CONVFINQA7354	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nfor the year ended december 31 , 2005 , we realized net losses of $ 1 million on sales of available-for- sale securities . unrealized gains of $ 1 million were included in other comprehensive income at december 31 , 2004 , net of deferred taxes of less than $ 1 million , related to these sales . for the year ended december 31 , 2004 , we realized net gains of $ 26 million on sales of available-for- sale securities . unrealized gains of $ 11 million were included in other comprehensive income at december 31 , 2003 , net of deferred taxes of $ 7 million , related to these sales . note 13 . equity-based compensation the 2006 equity incentive plan was approved by shareholders in april 2006 , and 20000000 shares of common stock were approved for issuance for stock and stock-based awards , including stock options , stock appreciation rights , restricted stock , deferred stock and performance awards . in addition , up to 8000000 shares from our 1997 equity incentive plan , that were available to issue or become available due to cancellations and forfeitures , may be awarded under the 2006 plan . the 1997 plan expired on december 18 , 2006 . as of december 31 , 2006 , 1305420 shares from the 1997 plan have been added to and may be awarded from the 2006 plan . as of december 31 , 2006 , 106045 awards have been made under the 2006 plan . we have stock options outstanding from previous plans , including the 1997 plan , under which no further grants can be made . the exercise price of non-qualified and incentive stock options and stock appreciation rights may not be less than the fair value of such shares at the date of grant . stock options and stock appreciation rights issued under the 2006 plan and the prior 1997 plan generally vest over four years and expire no later than ten years from the date of grant . for restricted stock awards issued under the 2006 plan and the prior 1997 plan , stock certificates are issued at the time of grant and recipients have dividend and voting rights . in general , these grants vest over three years . for deferred stock awards issued under the 2006 plan and the prior 1997 plan , no stock is issued at the time of grant . generally , these grants vest over two- , three- or four-year periods . performance awards granted under the 2006 equity incentive plan and the prior 1997 plan are earned over a performance period based on achievement of goals , generally over two- to three- year periods . payment for performance awards is made in shares of our common stock or in cash equal to the fair market value of our common stock , based on certain financial ratios after the conclusion of each performance period . we record compensation expense , equal to the estimated fair value of the options on the grant date , on a straight-line basis over the options 2019 vesting period . we use a black-scholes option-pricing model to estimate the fair value of the options granted . the weighted-average assumptions used in connection with the option-pricing model were as follows for the years indicated. . <table class='wikitable'><tr><td>1</td><td>-</td><td>2006</td><td>2005</td><td>2004</td></tr><tr><td>2</td><td>dividend yield</td><td>1.41% ( 1.41 % )</td><td>1.85% ( 1.85 % )</td><td>1.35% ( 1.35 % )</td></tr><tr><td>3</td><td>expected volatility</td><td>26.50</td><td>28.70</td><td>27.10</td></tr><tr><td>4</td><td>risk-free interest rate</td><td>4.60</td><td>4.19</td><td>3.02</td></tr><tr><td>5</td><td>expected option lives ( in years )</td><td>7.8</td><td>7.8</td><td>5.0</td></tr></table> compensation expense related to stock options , stock appreciation rights , restricted stock awards , deferred stock awards and performance awards , which we record as a component of salaries and employee benefits expense in our consolidated statement of income , was $ 208 million , $ 110 million and $ 74 million for the years ended december 31 , 2006 , 2005 and 2004 , respectively . the related total income tax benefit recorded in our consolidated statement of income was $ 83 million , $ 44 million and $ 30 million for 2006 , 2005 and 2004 , respectively . seq 87 copyarea : 38 . x 54 . trimsize : 8.25 x 10.75 typeset state street corporation serverprocess c:\\\\fc\\\\delivery_1024177\\\\2771-1-do_p.pdf chksum : 0 cycle 1merrill corporation 07-2771-1 thu mar 01 17:11:13 2007 ( v 2.247w--stp1pae18 ) .\nQuestion: what wast the risk free interest rate in 2006?\nAnswer: 4.6\nQuestion: what was the rate in 2005?\nAnswer: 4.19\nQuestion: what was the difference?\n" }, { "role": "agent", "content": "0.41" } ]
CONVFINQA11075	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nthrough 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: . <table class='wikitable'><tr><td>1</td><td>in millions</td><td>2013</td><td>2014</td><td>2015</td><td>2016</td><td>2017</td><td>thereafter</td></tr><tr><td>2</td><td>maturities of long-term debt ( a )</td><td>$ 444</td><td>$ 708</td><td>$ 479</td><td>$ 571</td><td>$ 216</td><td>$ 7722</td></tr><tr><td>3</td><td>debt obligations with right of offset ( b )</td><td>2014</td><td>2014</td><td>2014</td><td>5173</td><td>2014</td><td>2014</td></tr><tr><td>4</td><td>lease obligations</td><td>198</td><td>136</td><td>106</td><td>70</td><td>50</td><td>141</td></tr><tr><td>5</td><td>purchase obligations ( c )</td><td>3213</td><td>828</td><td>722</td><td>620</td><td>808</td><td>2654</td></tr><tr><td>6</td><td>total ( d )</td><td>$ 3855</td><td>$ 1672</td><td>$ 1307</td><td>$ 6434</td><td>$ 1074</td><td>$ 10517</td></tr></table> ( 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 .\nQuestion: what was the total of lease obligations in the year of 2013, in millions?\nAnswer: 198.0\nQuestion: and what was the total of purchase obligations in that same year, also in millions?\nAnswer: 3213.0\nQuestion: what would, then, be the total sum of both of those obligations, in millions?\nAnswer: 3411.0\nQuestion: and how much does this sum represent in relation to the total of 2013, in percentage?\n" }, { "role": "agent", "content": "0.88482" } ]
CONVFINQA8976	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nnotes to consolidated financial statements 2014 ( continued ) the following table summarizes the changes in non-vested restricted stock awards for the year ended may 31 , 2009 ( share awards in thousands ) : share awards weighted average grant-date fair value . <table class='wikitable'><tr><td>1</td><td>-</td><td>share awards</td><td>weighted average grant-date fair value</td></tr><tr><td>2</td><td>non-vested at may 31 2007</td><td>278</td><td>$ 37</td></tr><tr><td>3</td><td>granted</td><td>400</td><td>38</td></tr><tr><td>4</td><td>vested</td><td>-136 ( 136 )</td><td>30</td></tr><tr><td>5</td><td>forfeited</td><td>-24 ( 24 )</td><td>40</td></tr><tr><td>6</td><td>non-vested at may 31 2008</td><td>518</td><td>39</td></tr><tr><td>7</td><td>granted</td><td>430</td><td>43</td></tr><tr><td>8</td><td>vested</td><td>-159 ( 159 )</td><td>39</td></tr><tr><td>9</td><td>forfeited</td><td>-27 ( 27 )</td><td>41</td></tr><tr><td>10</td><td>non-vested at may 31 2009</td><td>762</td><td>42</td></tr></table> the weighted average grant-date fair value of share awards granted in the years ended may 31 , 2008 and 2007 was $ 38 and $ 45 , respectively . the total fair value of share awards vested during the years ended may 31 , 2009 , 2008 and 2007 was $ 6.2 million , $ 4.1 million and $ 1.7 million , respectively . we recognized compensation expense for restricted stock of $ 9.0 million , $ 5.7 million , and $ 2.7 million in the years ended may 31 , 2009 , 2008 and 2007 . as of may 31 , 2009 , there was $ 23.5 million of total unrecognized compensation cost related to unvested restricted stock awards that is expected to be recognized over a weighted average period of 2.9 years . employee stock purchase plan we have an employee stock purchase plan under which the sale of 2.4 million shares of our common stock has been authorized . employees may designate up to the lesser of $ 25000 or 20% ( 20 % ) of their annual compensation for the purchase of stock . the price for shares purchased under the plan is 85% ( 85 % ) of the market value on the last day of the quarterly purchase period . as of may 31 , 2009 , 0.8 million shares had been issued under this plan , with 1.6 million shares reserved for future issuance . the weighted average grant-date fair value of each designated share purchased under this plan was $ 6 , $ 6 and $ 8 in the years ended may 31 , 2009 , 2008 and 2007 , respectively . these values represent the fair value of the 15% ( 15 % ) discount . note 12 2014segment information general information during fiscal 2009 , we began assessing our operating performance using a new segment structure . we made this change as a result of our june 30 , 2008 acquisition of 51% ( 51 % ) of hsbc merchant services llp in the united kingdom , in addition to anticipated future international expansion . beginning with the quarter ended august 31 , 2008 , the reportable segments are defined as north america merchant services , international merchant services , and money transfer . the following tables reflect these changes and such reportable segments for fiscal years 2009 , 2008 , and 2007. .\nQuestion: as of may 31, 2009, what was the total value of the non-vested shares, in thousands?\nAnswer: 32004.0\nQuestion: and what is that in millions?\nAnswer: 32.004\nQuestion: and in the year before, what was that full value, also in thousands?\n" }, { "role": "agent", "content": "20202.0" } ]
CONVFINQA8262	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nvalue , 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. . <table class='wikitable'><tr><td>1</td><td>-</td><td>2005</td><td>2004</td></tr><tr><td>2</td><td>furniture and equipment</td><td>$ 98387</td><td>$ 90893</td></tr><tr><td>3</td><td>leasehold improvements</td><td>66318</td><td>65294</td></tr><tr><td>4</td><td>computers</td><td>18971</td><td>18421</td></tr><tr><td>5</td><td>software</td><td>18683</td><td>16411</td></tr><tr><td>6</td><td>total property and equipment gross</td><td>202359</td><td>191019</td></tr><tr><td>7</td><td>less accumulated depreciation and amortization</td><td>147826</td><td>126794</td></tr><tr><td>8</td><td>total property and equipment net</td><td>$ 54533</td><td>$ 64225</td></tr></table> .\nQuestion: what is the net change in the value of furniture and equipment from 2004 and 2005?\n" }, { "role": "agent", "content": "7494.0" } ]
CONVFINQA4956	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nzimmer biomet holdings , inc . 2018 form 10-k annual report ( 8 ) we have incurred other various expenses from specific events or projects that we consider highly variable or have a significant impact to our operating results that we have excluded from our non-gaap financial measures . this includes legal entity and operational restructuring as well as our costs of complying with our dpa with the u.s . government related to certain fcpa matters involving biomet and certain of its subsidiaries . under the dpa , which has a three-year term , we are subject to oversight by an independent compliance monitor , which monitorship commenced in july 2017 . the excluded costs include the fees paid to the independent compliance monitor and to external legal counsel assisting in the matter . ( 9 ) represents the tax effects on the previously specified items . the tax effect for the u.s . jurisdiction is calculated based on an effective rate considering federal and state taxes , as well as permanent items . for jurisdictions outside the u.s. , the tax effect is calculated based upon the statutory rates where the items were incurred . ( 10 ) the 2016 period includes negative effects from finalizing the tax accounts for the biomet merger . under the applicable u.s . gaap rules , these measurement period adjustments are recognized on a prospective basis in the period of change . ( 11 ) the 2017 tax act resulted in a net favorable provisional adjustment due to the reduction of deferred tax liabilities for unremitted earnings and revaluation of deferred tax liabilities to a 21 percent rate , which was partially offset by provisional tax charges related to the toll charge provision of the 2017 tax act . in 2018 , we finalized our estimates of the effects of the 2017 tax act based upon final guidance issued by u.s . tax authorities . ( 12 ) other certain tax adjustments in 2018 primarily related to changes in tax rates on deferred tax liabilities recorded on intangible assets recognized in acquisition-related accounting and adjustments from internal restructuring transactions that provide us access to offshore funds in a tax efficient manner . in 2017 , other certain tax adjustments relate to tax benefits from lower tax rates unrelated to the impact of the 2017 tax act , net favorable resolutions of various tax matters and net favorable adjustments from internal restructuring transactions . the 2016 adjustment primarily related to a favorable adjustment to certain deferred tax liabilities recognized as part of acquisition-related accounting and favorable resolution of certain tax matters with taxing authorities offset by internal restructuring transactions that provide us access to offshore funds in a tax efficient manner . ( 13 ) diluted share count used in adjusted diluted eps : year ended december 31 , 2018 . <table class='wikitable'><tr><td>1</td><td>-</td><td>year endeddecember 31 2018</td></tr><tr><td>2</td><td>diluted shares</td><td>203.5</td></tr><tr><td>3</td><td>dilutive shares assuming net earnings</td><td>1.5</td></tr><tr><td>4</td><td>adjusted diluted shares</td><td>205.0</td></tr></table> liquidity and capital resources cash flows provided by operating activities were $ 1747.4 million in 2018 compared to $ 1582.3 million and $ 1632.2 million in 2017 and 2016 , respectively . the increase in operating cash flows in 2018 compared to 2017 was driven by additional cash flows from our sale of accounts receivable in certain countries , lower acquisition and integration expenses and lower quality remediation expenses , as well as certain significant payments made in the 2017 period . in the 2017 period , we made payments related to the u.s . durom cup settlement program , and we paid $ 30.5 million in settlement payments to resolve previously-disclosed fcpa matters involving biomet and certain of its subsidiaries as discussed in note 19 to our consolidated financial statements included in item 8 of this report . the decline in operating cash flows in 2017 compared to 2016 was driven by additional investments in inventory , additional expenses for quality remediation and the significant payments made in the 2017 period as discussed in the previous sentence . these unfavorable items were partially offset by $ 174.0 million of incremental cash flows in 2017 from our sale of accounts receivable in certain countries . cash flows used in investing activities were $ 416.6 million in 2018 compared to $ 510.8 million and $ 1691.5 million in 2017 and 2016 , respectively . instrument and property , plant and equipment additions reflected ongoing investments in our product portfolio and optimization of our manufacturing and logistics network . in 2018 , we entered into receive-fixed-rate , pay-fixed-rate cross-currency interest rate swaps . our investing cash flows reflect the net cash inflows from the fixed- rate interest rate receipts/payments , as well as the termination of certain of these swaps that were in a gain position in the year . the 2016 period included cash outflows for the acquisition of ldr holding corporation ( 201cldr 201d ) and other business acquisitions . additionally , the 2016 period reflects the maturity of available-for-sale debt securities . as these investments matured , we used the cash to pay off debt and have not reinvested in any additional debt securities . cash flows used in financing activities were $ 1302.2 million in 2018 . our primary use of available cash in 2018 was for debt repayment . we received net proceeds of $ 749.5 million from the issuance of additional senior notes and borrowed $ 400.0 million from our multicurrency revolving facility to repay $ 1150.0 million of senior notes that became due on april 2 , 2018 . we subsequently repaid the $ 400.0 million of multicurrency revolving facility borrowings . also in 2018 , we borrowed another $ 675.0 million under a new u.s . term loan c and used the cash proceeds along with cash generated from operations throughout the year to repay an aggregate of $ 835.0 million on u.s . term loan a , $ 450.0 million on u.s . term loan b , and we subsequently repaid $ 140.0 million on u.s . term loan c . overall , we had approximately $ 1150 million of net principal repayments on our senior notes and term loans in 2018 . in 2017 , our primary use of available cash was also for debt repayment compared to 2016 when we were not able to repay as much debt due to financing requirements to complete the ldr and other business acquisitions . additionally in 2017 , we had net cash inflows of $ 103.5 million on factoring programs that had not been remitted to the third party . in 2018 , we had net cash outflows related to these factoring programs as we remitted the $ 103.5 million and collected only $ 66.8 million which had not yet been remitted by the end of the year . since our factoring programs started at the end of 2016 , we did not have similar cash flows in that year . in january 2019 , we borrowed an additional $ 200.0 million under u.s . term loan c and used those proceeds , along with cash on hand , to repay the remaining $ 225.0 million outstanding under u.s . term loan b . in february , may , august and december 2018 , our board of directors declared cash dividends of $ 0.24 per share . we expect to continue paying cash dividends on a quarterly basis ; however , future dividends are subject to approval of the board of directors and may be adjusted as business needs or market conditions change . as further discussed in note 11 to our consolidated financial statements , our debt facilities restrict the payment of dividends in certain circumstances. .\nQuestion: what was the total in cash flows used in investing activities in 2018?\nAnswer: 416.6\nQuestion: and what was that total in 2017?\nAnswer: 510.8\nQuestion: what was, then, the change over the year?\nAnswer: -94.2\nQuestion: and how much does this change represent in relation to the 2017 total, in percentage?\n" }, { "role": "agent", "content": "-0.18442" } ]
CONVFINQA4735	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nthe aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2011 , 2010 , and 2009 company for an aggregate proceeds of approximately $ 234 million . the company recognized a gain on disposal of $ 6 million , net of tax , during the year ended december 31 , 2010 . ras laffan was previously reported in the asia generation segment . 23 . acquisitions and dispositions acquisitions dpl 2014on november 28 , 2011 , aes completed its acquisition of 100% ( 100 % ) of the common stock of dpl for approximately $ 3.5 billion , pursuant to the terms and conditions of a definitive agreement ( the 201cmerger agreement 201d ) dated april 19 , 2011 . dpl serves over 500000 customers , primarily west central ohio , through its operating subsidiaries dp&l and dpl energy resources ( 201cdpler 201d ) . additionally , dpl operates over 3800 mw of power generation facilities and provides competitive retail energy services to residential , commercial , industrial and governmental customers . the acquisition strengthens the company 2019s u.s . utility operations by expanding in the midwest and pjm , a regional transmission organization serving several eastern states as part of the eastern interconnection . the company expects to benefit from the regional scale provided by indianapolis power & light company , its nearby integrated utility business in indiana . aes funded the aggregate purchase consideration through a combination of the following : 2022 the proceeds from a $ 1.05 billion term loan obtained in may 2011 ; 2022 the proceeds from a private offering of $ 1.0 billion notes in june 2011 ; 2022 temporary borrowings of $ 251 million under its revolving credit facility ; and 2022 the proceeds from private offerings of $ 450 million aggregate principal amount of 6.50% ( 6.50 % ) senior notes due 2016 and $ 800 million aggregate principal amount of 7.25% ( 7.25 % ) senior notes due 2021 ( collectively , the 201cnotes 201d ) in october 2011 by dolphin subsidiary ii , inc . ( 201cdolphin ii 201d ) , a wholly-owned special purpose indirect subsidiary of aes , which was merged into dpl upon the completion of acquisition . the fair value of the consideration paid for dpl was as follows ( in millions ) : . <table class='wikitable'><tr><td>1</td><td>agreed enterprise value</td><td>$ 4719</td></tr><tr><td>2</td><td>less : fair value of assumed long-term debt outstanding net</td><td>-1255 ( 1255 )</td></tr><tr><td>3</td><td>cash consideration paid to dpl 2019s common stockholders</td><td>3464</td></tr><tr><td>4</td><td>add : cash paid for outstanding stock-based awards</td><td>19</td></tr><tr><td>5</td><td>total cash consideration paid</td><td>$ 3483</td></tr></table> .\nQuestion: what was the value of acquisition?\nAnswer: 3.5\nQuestion: what is that times 1000?\nAnswer: 3500.0\nQuestion: what is the value of new borrowings over the acquisition product?\n" }, { "role": "agent", "content": "0.07171" } ]
CONVFINQA3234	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\n2012 ppg annual report and form 10-k 45 costs related to these notes , which totaled $ 17 million , will be amortized to interest expense over the respective terms of the notes . in august 2010 , ppg entered into a three-year credit agreement with several banks and financial institutions ( the \"2010 credit agreement\" ) which was subsequently terminated in july 2012 . the 2010 credit agreement provided for a $ 1.2 billion unsecured revolving credit facility . in connection with entering into the 2010 credit agreement , the company terminated its 20ac650 million and its $ 1 billion revolving credit facilities that were each set to expire in 2011 . there were no outstanding amounts due under either revolving facility at the times of their termination . the 2010 credit agreement was set to terminate on august 5 , 2013 . ppg 2019s non-u.s . operations have uncommitted lines of credit totaling $ 705 million of which $ 34 million was used as of december 31 , 2012 . these uncommitted lines of credit are subject to cancellation at any time and are generally not subject to any commitment fees . short-term debt outstanding as of december 31 , 2012 and 2011 , was as follows: . <table class='wikitable'><tr><td>1</td><td>( millions )</td><td>2012</td><td>2011</td></tr><tr><td>2</td><td>other weighted average 2.27% ( 2.27 % ) as of dec . 31 2012 and 3.72% ( 3.72 % ) as of december 31 2011</td><td>$ 39</td><td>$ 33</td></tr><tr><td>3</td><td>total</td><td>$ 39</td><td>$ 33</td></tr></table> ppg is in compliance with the restrictive covenants under its various credit agreements , loan agreements and indentures . the company 2019s revolving credit agreements include a financial ratio covenant . the covenant requires that the amount of total indebtedness not exceed 60% ( 60 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments . as of december 31 , 2012 , total indebtedness was 42% ( 42 % ) of the company 2019s total capitalization excluding the portion of accumulated other comprehensive income ( loss ) related to pensions and other postretirement benefit adjustments . additionally , substantially all of the company 2019s debt agreements contain customary cross- default provisions . those provisions generally provide that a default on a debt service payment of $ 10 million or more for longer than the grace period provided ( usually 10 days ) under one agreement may result in an event of default under other agreements . none of the company 2019s primary debt obligations are secured or guaranteed by the company 2019s affiliates . interest payments in 2012 , 2011 and 2010 totaled $ 219 million , $ 212 million and $ 189 million , respectively . in october 2009 , the company entered into an agreement with a counterparty to repurchase up to 1.2 million shares of the company 2019s stock of which 1.1 million shares were purchased in the open market ( 465006 of these shares were purchased as of december 31 , 2009 at a weighted average price of $ 56.66 per share ) . the counterparty held the shares until september of 2010 when the company paid $ 65 million and took possession of these shares . rental expense for operating leases was $ 233 million , $ 249 million and $ 233 million in 2012 , 2011 and 2010 , respectively . the primary leased assets include paint stores , transportation equipment , warehouses and other distribution facilities , and office space , including the company 2019s corporate headquarters located in pittsburgh , pa . minimum lease commitments for operating leases that have initial or remaining lease terms in excess of one year as of december 31 , 2012 , are ( in millions ) $ 171 in 2013 , $ 135 in 2014 , $ 107 in 2015 , $ 83 in 2016 , $ 64 in 2017 and $ 135 thereafter . the company had outstanding letters of credit and surety bonds of $ 119 million as of december 31 , 2012 . the letters of credit secure the company 2019s performance to third parties under certain self-insurance programs and other commitments made in the ordinary course of business . as of december 31 , 2012 and 2011 , guarantees outstanding were $ 96 million and $ 90 million , respectively . the guarantees relate primarily to debt of certain entities in which ppg has an ownership interest and selected customers of certain of the company 2019s businesses . a portion of such debt is secured by the assets of the related entities . the carrying values of these guarantees were $ 11 million and $ 13 million as of december 31 , 2012 and 2011 , respectively , and the fair values were $ 11 million and $ 21 million , as of december 31 , 2012 and 2011 , respectively . the fair value of each guarantee was estimated by comparing the net present value of two hypothetical cash flow streams , one based on ppg 2019s incremental borrowing rate and the other based on the borrower 2019s incremental borrowing rate , as of the effective date of the guarantee . both streams were discounted at a risk free rate of return . the company does not believe any loss related to these letters of credit , surety bonds or guarantees is likely . 9 . fair value measurement the accounting guidance on fair value measurements establishes a hierarchy with three levels of inputs used to determine fair value . level 1 inputs are quoted prices ( unadjusted ) in active markets for identical assets and liabilities , are considered to be the most reliable evidence of fair value , and should be used whenever available . level 2 inputs are observable prices that are not quoted on active exchanges . level 3 inputs are unobservable inputs employed for measuring the fair value of assets or liabilities . table of contents notes to the consolidated financial statements .\nQuestion: as of december 31, 2012, what was the remaining amount the company had in its restrictive covenant regarding debt to total capitalization?\nAnswer: 0.18\nQuestion: in this same year, what was the amount of the outstanding letters of credit and surety bonds, in millions?\nAnswer: 119.0\nQuestion: and what was that for the guarantees outstanding?\nAnswer: 96.0\nQuestion: what was, then, the full amount of both categories, in millions of dollars?\nAnswer: 215.0\nQuestion: and how much is that in dollars?\n" }, { "role": "agent", "content": "215000000.0" } ]
CONVFINQA5080	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nmanagement 2019s discussion and analysis the table below presents the operating results of our institutional client services segment. . <table class='wikitable'><tr><td>1</td><td>in millions</td><td>year ended december 2012</td><td>year ended december 2011</td><td>year ended december 2010</td></tr><tr><td>2</td><td>fixed income currency and commodities client execution</td><td>$ 9914</td><td>$ 9018</td><td>$ 13707</td></tr><tr><td>3</td><td>equities client execution1</td><td>3171</td><td>3031</td><td>3231</td></tr><tr><td>4</td><td>commissions and fees</td><td>3053</td><td>3633</td><td>3426</td></tr><tr><td>5</td><td>securities services</td><td>1986</td><td>1598</td><td>1432</td></tr><tr><td>6</td><td>total equities</td><td>8210</td><td>8262</td><td>8089</td></tr><tr><td>7</td><td>total net revenues</td><td>18124</td><td>17280</td><td>21796</td></tr><tr><td>8</td><td>operating expenses</td><td>12480</td><td>12837</td><td>14994</td></tr><tr><td>9</td><td>pre-tax earnings</td><td>$ 5644</td><td>$ 4443</td><td>$ 6802</td></tr></table> 1 . includes net revenues related to reinsurance of $ 1.08 billion , $ 880 million and $ 827 million for the years ended december 2012 , december 2011 and december 2010 , respectively . 2012 versus 2011 . net revenues in institutional client services were $ 18.12 billion for 2012 , 5% ( 5 % ) higher than 2011 . net revenues in fixed income , currency and commodities client execution were $ 9.91 billion for 2012 , 10% ( 10 % ) higher than 2011 . these results reflected strong net revenues in mortgages , which were significantly higher compared with 2011 . in addition , net revenues in credit products and interest rate products were solid and higher compared with 2011 . these increases were partially offset by significantly lower net revenues in commodities and slightly lower net revenues in currencies . although broad market concerns persisted during 2012 , fixed income , currency and commodities client execution operated in a generally improved environment characterized by tighter credit spreads and less challenging market-making conditions compared with 2011 . net revenues in equities were $ 8.21 billion for 2012 , essentially unchanged compared with 2011 . net revenues in securities services were significantly higher compared with 2011 , reflecting a gain of approximately $ 500 million on the sale of our hedge fund administration business . in addition , equities client execution net revenues were higher than 2011 , primarily reflecting significantly higher results in cash products , principally due to increased levels of client activity . these increases were offset by lower commissions and fees , reflecting lower market volumes . during 2012 , equities operated in an environment generally characterized by an increase in global equity prices and lower volatility levels . the net loss attributable to the impact of changes in our own credit spreads on borrowings for which the fair value option was elected was $ 714 million ( $ 433 million and $ 281 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2012 , compared with a net gain of $ 596 million ( $ 399 million and $ 197 million related to fixed income , currency and commodities client execution and equities client execution , respectively ) for 2011 . during 2012 , institutional client services operated in an environment generally characterized by continued broad market concerns and uncertainties , although positive developments helped to improve market conditions . these developments included certain central bank actions to ease monetary policy and address funding risks for european financial institutions . in addition , the u.s . economy posted stable to improving economic data , including favorable developments in unemployment and housing . these improvements resulted in tighter credit spreads , higher global equity prices and lower levels of volatility . however , concerns about the outlook for the global economy and continued political uncertainty , particularly the political debate in the united states surrounding the fiscal cliff , generally resulted in client risk aversion and lower activity levels . also , uncertainty over financial regulatory reform persisted . if these concerns and uncertainties continue over the long term , net revenues in fixed income , currency and commodities client execution and equities would likely be negatively impacted . operating expenses were $ 12.48 billion for 2012 , 3% ( 3 % ) lower than 2011 , primarily due to lower brokerage , clearing , exchange and distribution fees , and lower impairment charges , partially offset by higher net provisions for litigation and regulatory proceedings . pre-tax earnings were $ 5.64 billion in 2012 , 27% ( 27 % ) higher than 2011 . 2011 versus 2010 . net revenues in institutional client services were $ 17.28 billion for 2011 , 21% ( 21 % ) lower than 2010 . net revenues in fixed income , currency and commodities client execution were $ 9.02 billion for 2011 , 34% ( 34 % ) lower than 2010 . although activity levels during 2011 were generally consistent with 2010 levels , and results were solid during the first quarter of 2011 , the environment during the remainder of 2011 was characterized by broad market concerns and uncertainty , resulting in volatile markets and significantly wider credit spreads , which contributed to difficult market-making conditions and led to reductions in risk by us and our clients . as a result of these conditions , net revenues across the franchise were lower , including significant declines in mortgages and credit products , compared with 2010 . 54 goldman sachs 2012 annual report .\nQuestion: what was the total of net revenues in 2011?\n" }, { "role": "agent", "content": "17280.0" } ]
CONVFINQA9507	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nmarathon oil corporation notes to consolidated financial statements been reported as discontinued operations in the consolidated statements of income and the consolidated statements of cash flows for all periods presented . discontinued operations 2014revenues and pretax income associated with our discontinued irish and gabonese operations are shown in the following table : ( in millions ) 2009 2008 2007 . <table class='wikitable'><tr><td>1</td><td>( in millions )</td><td>2009</td><td>2008</td><td>2007</td></tr><tr><td>2</td><td>revenues applicable to discontinued operations</td><td>$ 188</td><td>$ 439</td><td>$ 456</td></tr><tr><td>3</td><td>pretax income from discontinued operations</td><td>$ 80</td><td>$ 221</td><td>$ 281</td></tr></table> angola disposition 2013 in july 2009 , we entered into an agreement to sell an undivided 20 percent outside- operated interest in the production sharing contract and joint operating agreement in block 32 offshore angola for $ 1.3 billion , excluding any purchase price adjustments at closing , with an effective date of january 1 , 2009 . the sale closed and we received net proceeds of $ 1.3 billion in february 2010 . the pretax gain on the sale will be approximately $ 800 million . we retained a 10 percent outside-operated interest in block 32 . gabon disposition 2013 in december 2009 , we closed the sale of our operated fields offshore gabon , receiving net proceeds of $ 269 million , after closing adjustments . a $ 232 million pretax gain on this disposition was reported in discontinued operations for 2009 . permian basin disposition 2013 in june 2009 , we closed the sale of our operated and a portion of our outside- operated permian basin producing assets in new mexico and west texas for net proceeds after closing adjustments of $ 293 million . a $ 196 million pretax gain on the sale was recorded . ireland dispositions 2013 in april 2009 , we closed the sale of our operated properties in ireland for net proceeds of $ 84 million , after adjusting for cash held by the sold subsidiary . a $ 158 million pretax gain on the sale was recorded . as a result of this sale , we terminated our pension plan in ireland , incurring a charge of $ 18 million . in june 2009 , we entered into an agreement to sell the subsidiary holding our 19 percent outside-operated interest in the corrib natural gas development offshore ireland . total proceeds were estimated to range between $ 235 million and $ 400 million , subject to the timing of first commercial gas at corrib and closing adjustments . at closing on july 30 , 2009 , the initial $ 100 million payment plus closing adjustments was received . the fair value of the proceeds was estimated to be $ 311 million . fair value of anticipated sale proceeds includes ( i ) $ 100 million received at closing , ( ii ) $ 135 million minimum amount due at the earlier of first gas or december 31 , 2012 , and ( iii ) a range of zero to $ 165 million of contingent proceeds subject to the timing of first commercial gas . a $ 154 million impairment of the held for sale asset was recognized in discontinued operations in the second quarter of 2009 ( see note 16 ) since the fair value of the disposal group was less than the net book value . final proceeds will range between $ 135 million ( minimum amount ) to $ 300 million and are due on the earlier of first commercial gas or december 31 , 2012 . the fair value of the expected final proceeds was recorded as an asset at closing . as a result of new public information in the fourth quarter of 2009 , a writeoff was recorded on the contingent portion of the proceeds ( see note 10 ) . existing guarantees of our subsidiaries 2019 performance issued to irish government entities will remain in place after the sales until the purchasers issue similar guarantees to replace them . the guarantees , related to asset retirement obligations and natural gas production levels , have been indemnified by the purchasers . the fair value of these guarantees is not significant . norwegian disposition 2013 on october 31 , 2008 , we closed the sale of our norwegian outside-operated e&p properties and undeveloped offshore acreage in the heimdal area of the norwegian north sea for net proceeds of $ 301 million , with a pretax gain of $ 254 million as of december 31 , 2008 . pilot travel centers disposition 2013 on october 8 , 2008 , we completed the sale of our 50 percent ownership interest in ptc . sale proceeds were $ 625 million , with a pretax gain on the sale of $ 126 million . immediately preceding the sale , we received a $ 75 million partial redemption of our ownership interest from ptc that was accounted for as a return of investment . this was an investment of our rm&t segment. .\nQuestion: what was the pretax income from discontinued operations in 2009?\nAnswer: 80.0\nQuestion: and what was it in 2007?\nAnswer: 281.0\nQuestion: what was, then, the change in pretax income from discontinued operations over the years?\nAnswer: -201.0\nQuestion: what was the pretax income from discontinued operations in 2007?\nAnswer: 281.0\nQuestion: and how much does that change represent in relation to this 2007 pretax income?\n" }, { "role": "agent", "content": "-0.7153" } ]
CONVFINQA3742	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nvaluation techniques 2013 cash equivalents are mostly comprised of short-term money-market instruments and are valued at cost , which approximates fair value . u.s . equity securities and international equity securities categorized as level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year . for u.s . equity securities and international equity securities not traded on an active exchange , or if the closing price is not available , the trustee obtains indicative quotes from a pricing vendor , broker , or investment manager . these securities are categorized as level 2 if the custodian obtains corroborated quotes from a pricing vendor or categorized as level 3 if the custodian obtains uncorroborated quotes from a broker or investment manager . commingled equity funds are public investment vehicles valued using the net asset value ( nav ) provided by the fund manager . the nav is the total value of the fund divided by the number of shares outstanding . commingled equity funds are categorized as level 1 if traded at their nav on a nationally recognized securities exchange or categorized as level 2 if the nav is corroborated by observable market data ( e.g. , purchases or sales activity ) . fixed income securities categorized as level 2 are valued by the trustee using pricing models that use verifiable observable market data ( e.g . interest rates and yield curves observable at commonly quoted intervals ) , bids provided by brokers or dealers , or quoted prices of securities with similar characteristics . private equity funds , real estate funds , hedge funds , and fixed income securities categorized as level 3 are valued based on valuation models that include significant unobservable inputs and cannot be corroborated using verifiable observable market data . valuations for private equity funds and real estate funds are determined by the general partners , while hedge funds are valued by independent administrators . depending on the nature of the assets , the general partners or independent administrators use both the income and market approaches in their models . the market approach consists of analyzing market transactions for comparable assets while the income approach uses earnings or the net present value of estimated future cash flows adjusted for liquidity and other risk factors . commodities categorized as level 1 are traded on an active commodity exchange and are valued at their closing prices on the last trading day of the year . commodities categorized as level 2 represent shares in a commingled commodity fund valued using the nav , which is corroborated by observable market data . contributions and expected benefit payments we generally determine funding requirements for our defined benefit pension plans in a manner consistent with cas and internal revenue code rules . in 2012 , we made contributions of $ 3.6 billion related to our qualified defined benefit pension plans . we plan to make contributions of approximately $ 1.5 billion related to the qualified defined benefit pension plans in 2013 . in 2012 , we made contributions of $ 235 million related to our retiree medical and life insurance plans . we expect no required contributions related to the retiree medical and life insurance plans in 2013 . the following table presents estimated future benefit payments , which reflect expected future employee service , as of december 31 , 2012 ( in millions ) : . <table class='wikitable'><tr><td>1</td><td>-</td><td>2013</td><td>2014</td><td>2015</td><td>2016</td><td>2017</td><td>2018 - 2022</td></tr><tr><td>2</td><td>qualified defined benefit pension plans</td><td>$ 1900</td><td>$ 1970</td><td>$ 2050</td><td>$ 2130</td><td>$ 2220</td><td>$ 12880</td></tr><tr><td>3</td><td>retiree medical and life insurance plans</td><td>200</td><td>210</td><td>220</td><td>220</td><td>220</td><td>1080</td></tr></table> defined contribution plans we maintain a number of defined contribution plans , most with 401 ( k ) features , that cover substantially all of our employees . under the provisions of our 401 ( k ) plans , we match most employees 2019 eligible contributions at rates specified in the plan documents . our contributions were $ 380 million in 2012 , $ 378 million in 2011 , and $ 379 million in 2010 , the majority of which were funded in our common stock . our defined contribution plans held approximately 48.6 million and 52.1 million shares of our common stock as of december 31 , 2012 and 2011. .\nQuestion: what was the number of shares from the common stock held by defined contribution plans in 2012, in millions?\nAnswer: 48.6\nQuestion: and what was it in 2011, also in millions?\nAnswer: 52.1\nQuestion: what was, then, the change over the year?\nAnswer: -3.5\nQuestion: what was the number of shares from the common stock held by defined contribution plans in 2011, in millions?\nAnswer: 52.1\nQuestion: and how much does that change represent in relation to this 2011 number of shares, in percentage?\n" }, { "role": "agent", "content": "-0.06718" } ]
CONVFINQA7177	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nincentive compensation expense ( $ 8.2 million ) and related fringe benefit costs ( $ 1.4 million ) , and higher warehousing costs due to customer requirements ( $ 2.0 million ) . corporate overhead for the year ended december 31 , 2006 , increased $ 3.1 million , or 6.5% ( 6.5 % ) , from the year ended december 31 , 2005 . the increase was primarily attributable to higher incentive compensation expense ( $ 2.6 million ) and other increased costs which were not individually significant . other expense , net , decreased $ 2.1 million , or 20.1% ( 20.1 % ) for the year ended december 31 , 2006 compared to the year ended december 31 , 2005 . the decrease was primarily due to a $ 3.1 million decrease in expenses related to the disposals of property , plant and equipment as part of planned disposals in connection with capital projects . partially offsetting the decrease in fixed asset disposal expense was higher legal expenses ( $ 0.5 million ) and increased losses on disposals of storeroom items ( $ 0.4 million ) . interest expense , net and income taxes interest expense , net of interest income , increased by $ 3.1 million , or 11.1% ( 11.1 % ) , for the year ended december 31 , 2006 compared to the full year 2005 , primarily as a result of higher interest expense on our variable rate debt due to higher interest rates . pca 2019s effective tax rate was 35.8% ( 35.8 % ) for the year ended december 31 , 2006 and 40.2% ( 40.2 % ) for the year ended december 31 , 2005 . the lower tax rate in 2006 is primarily due to a larger domestic manufacturer 2019s deduction and a reduction in the texas state tax rate . for both years 2006 and 2005 , tax rates were higher than the federal statutory rate of 35.0% ( 35.0 % ) due to state income taxes . year ended december 31 , 2005 compared to year ended december 31 , 2004 the historical results of operations of pca for the years ended december 31 , 2005 and 2004 are set forth below : for the year ended december 31 , ( in millions ) 2005 2004 change . <table class='wikitable'><tr><td>1</td><td>( in millions )</td><td>for the year ended december 31 , 2005</td><td>for the year ended december 31 , 2004</td><td>change</td></tr><tr><td>2</td><td>net sales</td><td>$ 1993.7</td><td>$ 1890.1</td><td>$ 103.6</td></tr><tr><td>3</td><td>income from operations</td><td>$ 116.1</td><td>$ 140.5</td><td>$ -24.4 ( 24.4 )</td></tr><tr><td>4</td><td>interest expense net</td><td>-28.1 ( 28.1 )</td><td>-29.6 ( 29.6 )</td><td>1.5</td></tr><tr><td>5</td><td>income before taxes</td><td>88.0</td><td>110.9</td><td>-22.9 ( 22.9 )</td></tr><tr><td>6</td><td>provision for income taxes</td><td>-35.4 ( 35.4 )</td><td>-42.2 ( 42.2 )</td><td>6.8</td></tr><tr><td>7</td><td>net income</td><td>$ 52.6</td><td>$ 68.7</td><td>$ -16.1 ( 16.1 )</td></tr></table> net sales net sales increased by $ 103.6 million , or 5.5% ( 5.5 % ) , for the year ended december 31 , 2005 from the year ended december 31 , 2004 . net sales increased primarily due to increased sales prices and volumes of corrugated products compared to 2004 . total corrugated products volume sold increased 4.2% ( 4.2 % ) to 31.2 billion square feet in 2005 compared to 29.9 billion square feet in 2004 . on a comparable shipment-per-workday basis , corrugated products sales volume increased 4.6% ( 4.6 % ) in 2005 from 2004 . excluding pca 2019s acquisition of midland container in april 2005 , corrugated products volume was 3.0% ( 3.0 % ) higher in 2005 than 2004 and up 3.4% ( 3.4 % ) compared to 2004 on a shipment-per-workday basis . shipments-per-workday is calculated by dividing our total corrugated products volume during the year by the number of workdays within the year . the larger percentage increase was due to the fact that 2005 had one less workday ( 250 days ) , those days not falling on a weekend or holiday , than 2004 ( 251 days ) . containerboard sales volume to external domestic and export customers decreased 12.2% ( 12.2 % ) to 417000 tons for the year ended december 31 , 2005 from 475000 tons in 2004. .\nQuestion: what is the operating margin in 2004?\n" }, { "role": "agent", "content": "0.07433" } ]
CONVFINQA4478	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nmanagement 2019s discussion and analysis of financial condition and results of operations ( continued ) funding deposits : we provide products and services including custody , accounting , administration , daily pricing , foreign exchange services , cash management , financial asset management , securities finance and investment advisory services . as a provider of these products and services , we generate client deposits , which have generally provided a stable , low-cost source of funds . as a global custodian , clients place deposits with state street entities in various currencies . we invest these client deposits in a combination of investment securities and short- duration financial instruments whose mix is determined by the characteristics of the deposits . for the past several years , we have experienced higher client deposit inflows toward the end of the quarter or the end of the year . as a result , we believe average client deposit balances are more reflective of ongoing funding than period-end balances . table 33 : client deposits average balance december 31 , year ended december 31 . <table class='wikitable'><tr><td>1</td><td>( in millions )</td><td>december 31 , 2014</td><td>december 31 , 2013</td><td>december 31 , 2014</td><td>2013</td></tr><tr><td>2</td><td>client deposits ( 1 )</td><td>$ 195276</td><td>$ 182268</td><td>$ 167470</td><td>$ 143043</td></tr></table> client deposits ( 1 ) $ 195276 $ 182268 $ 167470 $ 143043 ( 1 ) balance as of december 31 , 2014 excluded term wholesale certificates of deposit , or cds , of $ 13.76 billion ; average balances for the year ended december 31 , 2014 and 2013 excluded average cds of $ 6.87 billion and $ 2.50 billion , respectively . short-term funding : our corporate commercial paper program , under which we can issue up to $ 3.0 billion of commercial paper with original maturities of up to 270 days from the date of issuance , had $ 2.48 billion and $ 1.82 billion of commercial paper outstanding as of december 31 , 2014 and 2013 , respectively . our on-balance sheet liquid assets are also an integral component of our liquidity management strategy . these assets provide liquidity through maturities of the assets , but more importantly , they provide us with the ability to raise funds by pledging the securities as collateral for borrowings or through outright sales . in addition , our access to the global capital markets gives us the ability to source incremental funding at reasonable rates of interest from wholesale investors . as discussed earlier under 201casset liquidity , 201d state street bank's membership in the fhlb allows for advances of liquidity with varying terms against high-quality collateral . short-term secured funding also comes in the form of securities lent or sold under agreements to repurchase . these transactions are short-term in nature , generally overnight , and are collateralized by high-quality investment securities . these balances were $ 8.93 billion and $ 7.95 billion as of december 31 , 2014 and 2013 , respectively . state street bank currently maintains a line of credit with a financial institution of cad $ 800 million , or approximately $ 690 million as of december 31 , 2014 , to support its canadian securities processing operations . the line of credit has no stated termination date and is cancelable by either party with prior notice . as of december 31 , 2014 , there was no balance outstanding on this line of credit . long-term funding : as of december 31 , 2014 , state street bank had board authority to issue unsecured senior debt securities from time to time , provided that the aggregate principal amount of such unsecured senior debt outstanding at any one time does not exceed $ 5 billion . as of december 31 , 2014 , $ 4.1 billion was available for issuance pursuant to this authority . as of december 31 , 2014 , state street bank also had board authority to issue an additional $ 500 million of subordinated debt . we maintain an effective universal shelf registration that allows for the public offering and sale of debt securities , capital securities , common stock , depositary shares and preferred stock , and warrants to purchase such securities , including any shares into which the preferred stock and depositary shares may be convertible , or any combination thereof . we have issued in the past , and we may issue in the future , securities pursuant to our shelf registration . the issuance of debt or equity securities will depend on future market conditions , funding needs and other factors . agency credit ratings our ability to maintain consistent access to liquidity is fostered by the maintenance of high investment-grade ratings as measured by the major independent credit rating agencies . factors essential to maintaining high credit ratings include diverse and stable core earnings ; relative market position ; strong risk management ; strong capital ratios ; diverse liquidity sources , including the global capital markets and client deposits ; strong liquidity monitoring procedures ; and preparedness for current or future regulatory developments . high ratings limit borrowing costs and enhance our liquidity by providing assurance for unsecured funding and depositors , increasing the potential market for our debt and improving our ability to offer products , serve markets , and engage in transactions in which clients value high credit ratings . a downgrade or reduction of our credit ratings could have a material adverse effect on our liquidity by restricting our ability to access the capital .\nQuestion: what was the change in value of cds that were excluded between 2013 and 2014?\nAnswer: 4.37\nQuestion: what was the percent change?\n" }, { "role": "agent", "content": "1.748" } ]
CONVFINQA5054	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nlevels during 2008 , an indication that efforts to improve network operations translated into better customer service . 2022 fuel prices 2013 crude oil prices increased at a steady rate through the first seven months of 2008 , closing at a record high of $ 145.29 a barrel in early july . as the economy worsened during the third and fourth quarters , fuel prices dropped dramatically , hitting $ 33.87 per barrel in december , a near five-year low . despite these price declines toward the end of the year , our 2008 average fuel price increased by 39% ( 39 % ) and added $ 1.1 billion of operating expenses compared to 2007 . our fuel surcharge programs helped offset the impact of higher fuel prices . in addition , we reduced our consumption rate by 4% ( 4 % ) , saving approximately 58 million gallons of fuel during the year . the use of newer , more fuel efficient locomotives ; our fuel conservation programs ; improved network operations ; and a shift in commodity mix , primarily due to growth in bulk shipments , contributed to the improvement . 2022 free cash flow 2013 cash generated by operating activities totaled a record $ 4.1 billion , yielding free cash flow of $ 825 million in 2008 . free cash flow is defined as cash provided by operating activities , less cash used in investing activities and dividends paid . free cash flow is not considered a financial measure under accounting principles generally accepted in the united states ( gaap ) by sec regulation g and item 10 of sec regulation s-k . we believe free cash flow is important in evaluating our financial performance and measures our ability to generate cash without additional external financings . free cash flow should be considered in addition to , rather than as a substitute for , cash provided by operating activities . the following table reconciles cash provided by operating activities ( gaap measure ) to free cash flow ( non-gaap measure ) : millions of dollars 2008 2007 2006 . <table class='wikitable'><tr><td>1</td><td>millions of dollars</td><td>2008</td><td>2007</td><td>2006</td></tr><tr><td>2</td><td>cash provided by operating activities</td><td>$ 4070</td><td>$ 3277</td><td>$ 2880</td></tr><tr><td>3</td><td>cash used in investing activities</td><td>-2764 ( 2764 )</td><td>-2426 ( 2426 )</td><td>-2042 ( 2042 )</td></tr><tr><td>4</td><td>dividends paid</td><td>-481 ( 481 )</td><td>-364 ( 364 )</td><td>-322 ( 322 )</td></tr><tr><td>5</td><td>free cash flow</td><td>$ 825</td><td>$ 487</td><td>$ 516</td></tr></table> 2009 outlook 2022 safety 2013 operating a safe railroad benefits our employees , our customers , our shareholders , and the public . we will continue using a multi-faceted approach to safety , utilizing technology , risk assessment , quality control , and training and engaging our employees . we plan to continue implementation of total safety culture ( tsc ) throughout our operations . tsc , an employee-focused initiative that has helped improve safety , is a process designed to establish , maintain , and promote safety among co-workers . with respect to public safety , we will continue our efforts to maintain , upgrade , and close crossings , install video cameras on locomotives , and educate the public about crossing safety through various railroad and industry programs , along with other activities . 2022 transportation plan 2013 in 2009 , we will continue to evaluate traffic flows and network logistic patterns to identify additional opportunities to simplify operations and improve network efficiency and asset utilization . we plan to maintain adequate manpower and locomotives , and improve productivity using industrial engineering techniques . 2022 fuel prices 2013 on average , we expect fuel prices to decrease substantially from the average price we paid in 2008 . however , due to economic uncertainty , other global pressures , and weather incidents , fuel prices again could be volatile during the year . to reduce the impact of fuel price on earnings , we .\nQuestion: what was free cash flow in 2008?\nAnswer: 825.0\nQuestion: what was it in 2007?\nAnswer: 487.0\nQuestion: what is the net change?\nAnswer: 338.0\nQuestion: what was the 2007 value?\n" }, { "role": "agent", "content": "487.0" } ]
CONVFINQA4344	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nin the ordinary course of business , based on our evaluations of certain geologic trends and prospective economics , we have allowed certain lease acreage to expire and may allow additional acreage to expire in the future . if production is not established or we take no other action to extend the terms of the leases , licenses , or concessions , undeveloped acreage listed in the table below will expire over the next three years . we plan to continue the terms of many of these licenses and concession areas or retain leases through operational or administrative actions. . <table class='wikitable'><tr><td>1</td><td>( in thousands )</td><td>net undeveloped acres expiring 2013</td><td>net undeveloped acres expiring 2014</td><td>net undeveloped acres expiring 2015</td></tr><tr><td>2</td><td>u.s .</td><td>436</td><td>189</td><td>130</td></tr><tr><td>3</td><td>canada</td><td>2014</td><td>2014</td><td>2014</td></tr><tr><td>4</td><td>total north america</td><td>436</td><td>189</td><td>130</td></tr><tr><td>5</td><td>e.g .</td><td>2014</td><td>36</td><td>2014</td></tr><tr><td>6</td><td>other africa</td><td>858</td><td>2014</td><td>189</td></tr><tr><td>7</td><td>total africa</td><td>858</td><td>36</td><td>189</td></tr><tr><td>8</td><td>total europe</td><td>2014</td><td>216</td><td>1155</td></tr><tr><td>9</td><td>other international</td><td>2014</td><td>2014</td><td>49</td></tr><tr><td>10</td><td>worldwide</td><td>1294</td><td>441</td><td>1523</td></tr></table> marketing and midstream our e&p segment includes activities related to the marketing and transportation of substantially all of our liquid hydrocarbon and natural gas production . these activities include the transportation of production to market centers , the sale of commodities to third parties and storage of production . we balance our various sales , storage and transportation positions through what we call supply optimization , which can include the purchase of commodities from third parties for resale . supply optimization serves to aggregate volumes in order to satisfy transportation commitments and to achieve flexibility within product types and delivery points . as discussed previously , we currently own and operate gathering systems and other midstream assets in some of our production areas . we are continually evaluating value-added investments in midstream infrastructure or in capacity in third-party systems . delivery commitments we have committed to deliver quantities of crude oil and natural gas to customers under a variety of contracts . as of december 31 , 2012 , those contracts for fixed and determinable amounts relate primarily to eagle ford liquid hydrocarbon production . a minimum of 54 mbbld is to be delivered at variable pricing through mid-2017 under two contracts . our current production rates and proved reserves related to the eagle ford shale are sufficient to meet these commitments , but the contracts also provide for a monetary shortfall penalty or delivery of third-party volumes . oil sands mining segment we hold a 20 percent non-operated interest in the aosp , an oil sands mining and upgrading joint venture located in alberta , canada . the joint venture produces bitumen from oil sands deposits in the athabasca region utilizing mining techniques and upgrades the bitumen to synthetic crude oils and vacuum gas oil . the aosp 2019s mining and extraction assets are located near fort mcmurray , alberta and include the muskeg river and the jackpine mines . gross design capacity of the combined mines is 255000 ( 51000 net to our interest ) barrels of bitumen per day . the aosp base and expansion 1 scotford upgrader is at fort saskatchewan , northeast of edmonton , alberta . as of december 31 , 2012 , we own or have rights to participate in developed and undeveloped leases totaling approximately 216000 gross ( 43000 net ) acres . the underlying developed leases are held for the duration of the project , with royalties payable to the province of alberta . the five year aosp expansion 1 was completed in 2011 . the jackpine mine commenced production under a phased start- up in the third quarter of 2010 and began supplying oil sands ore to the base processing facility in the fourth quarter of 2010 . the upgrader expansion was completed and commenced operations in the second quarter of 2011 . synthetic crude oil sales volumes for 2012 were 47 mbbld and net of royalty production was 41 mbbld . phase one of debottlenecking opportunities was approved in 2011 and is expected to be completed in the second quarter of 2013 . future expansions and additional debottlenecking opportunities remain under review with no formal approvals expected until 2014 . current aosp operations use established processes to mine oil sands deposits from an open-pit mine , extract the bitumen and upgrade it into synthetic crude oils . ore is mined using traditional truck and shovel mining techniques . the mined ore passes through primary crushers to reduce the ore chunks in size and is then sent to rotary breakers where the ore chunks are further reduced to smaller particles . the particles are combined with hot water to create slurry . the slurry moves through the extraction .\nQuestion: worldwide, what is the amount of net expiring acres in 2013?\nAnswer: 1294.0\nQuestion: and the value specifically in the us?\nAnswer: 436.0\nQuestion: so how much of the acreage expiring this year is foreign?\nAnswer: 858.0\nQuestion: so what percentage of the net expiring acreage during this time is foreign?\n" }, { "role": "agent", "content": "0.66306" } ]
CONVFINQA4741	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\njpmorgan chase & co./2014 annual report 291 therefore , are not recorded on the consolidated balance sheets until settlement date . the unsettled reverse repurchase agreements and securities borrowing agreements predominantly consist of agreements with regular-way settlement periods . loan sales- and securitization-related indemnifications mortgage repurchase liability in connection with the firm 2019s mortgage loan sale and securitization activities with the gses , as described in note 16 , the firm has made representations and warranties that the loans sold meet certain requirements . the firm has been , and may be , required to repurchase loans and/or indemnify the gses ( e.g. , with 201cmake-whole 201d payments to reimburse the gses for their realized losses on liquidated loans ) . to the extent that repurchase demands that are received relate to loans that the firm purchased from third parties that remain viable , the firm typically will have the right to seek a recovery of related repurchase losses from the third party . generally , the maximum amount of future payments the firm would be required to make for breaches of these representations and warranties would be equal to the unpaid principal balance of such loans that are deemed to have defects that were sold to purchasers ( including securitization-related spes ) plus , in certain circumstances , accrued interest on such loans and certain expense . the following table summarizes the change in the mortgage repurchase liability for each of the periods presented . summary of changes in mortgage repurchase liability ( a ) year ended december 31 , ( in millions ) 2014 2013 2012 repurchase liability at beginning of period $ 681 $ 2811 $ 3557 net realized gains/ ( losses ) ( b ) 53 ( 1561 ) ( 1158 ) . <table class='wikitable'><tr><td>1</td><td>year ended december 31 ( in millions )</td><td>2014</td><td>2013</td><td>2012</td></tr><tr><td>2</td><td>repurchase liability at beginning of period</td><td>$ 681</td><td>$ 2811</td><td>$ 3557</td></tr><tr><td>3</td><td>net realized gains/ ( losses ) ( b )</td><td>53</td><td>-1561 ( 1561 )</td><td>-1158 ( 1158 )</td></tr><tr><td>4</td><td>reclassification to litigation reserve</td><td>2014</td><td>-179 ( 179 )</td><td>2014</td></tr><tr><td>5</td><td>( benefit ) /provision for repurchase ( c )</td><td>-459 ( 459 )</td><td>-390 ( 390 )</td><td>412</td></tr><tr><td>6</td><td>repurchase liability at end of period</td><td>$ 275</td><td>$ 681</td><td>$ 2811</td></tr></table> ( benefit ) /provision for repurchase ( c ) ( 459 ) ( 390 ) 412 repurchase liability at end of period $ 275 $ 681 $ 2811 ( a ) on october 25 , 2013 , the firm announced that it had reached a $ 1.1 billion agreement with the fhfa to resolve , other than certain limited types of exposures , outstanding and future mortgage repurchase demands associated with loans sold to the gses from 2000 to 2008 . ( b ) presented net of third-party recoveries and included principal losses and accrued interest on repurchased loans , 201cmake-whole 201d settlements , settlements with claimants , and certain related expense . make-whole settlements were $ 11 million , $ 414 million and $ 524 million , for the years ended december 31 , 2014 , 2013 and 2012 , respectively . ( c ) included a provision related to new loan sales of $ 4 million , $ 20 million and $ 112 million , for the years ended december 31 , 2014 , 2013 and 2012 , respectively . private label securitizations the liability related to repurchase demands associated with private label securitizations is separately evaluated by the firm in establishing its litigation reserves . on november 15 , 2013 , the firm announced that it had reached a $ 4.5 billion agreement with 21 major institutional investors to make a binding offer to the trustees of 330 residential mortgage-backed securities trusts issued by j.p.morgan , chase , and bear stearns ( 201crmbs trust settlement 201d ) to resolve all representation and warranty claims , as well as all servicing claims , on all trusts issued by j.p . morgan , chase , and bear stearns between 2005 and 2008 . the seven trustees ( or separate and successor trustees ) for this group of 330 trusts have accepted the rmbs trust settlement for 319 trusts in whole or in part and excluded from the settlement 16 trusts in whole or in part . the trustees 2019 acceptance is subject to a judicial approval proceeding initiated by the trustees , which is pending in new york state court . in addition , from 2005 to 2008 , washington mutual made certain loan level representations and warranties in connection with approximately $ 165 billion of residential mortgage loans that were originally sold or deposited into private-label securitizations by washington mutual . of the $ 165 billion , approximately $ 78 billion has been repaid . in addition , approximately $ 49 billion of the principal amount of such loans has liquidated with an average loss severity of 59% ( 59 % ) . accordingly , the remaining outstanding principal balance of these loans as of december 31 , 2014 , was approximately $ 38 billion , of which $ 8 billion was 60 days or more past due . the firm believes that any repurchase obligations related to these loans remain with the fdic receivership . for additional information regarding litigation , see note 31 . loans sold with recourse the firm provides servicing for mortgages and certain commercial lending products on both a recourse and nonrecourse basis . in nonrecourse servicing , the principal credit risk to the firm is the cost of temporary servicing advances of funds ( i.e. , normal servicing advances ) . in recourse servicing , the servicer agrees to share credit risk with the owner of the mortgage loans , such as fannie mae or freddie mac or a private investor , insurer or guarantor . losses on recourse servicing predominantly occur when foreclosure sales proceeds of the property underlying a defaulted loan are less than the sum of the outstanding principal balance , plus accrued interest on the loan and the cost of holding and disposing of the underlying property . the firm 2019s securitizations are predominantly nonrecourse , thereby effectively transferring the risk of future credit losses to the purchaser of the mortgage-backed securities issued by the trust . at december 31 , 2014 and 2013 , the unpaid principal balance of loans sold with recourse totaled $ 6.1 billion and $ 7.7 billion , respectively . the carrying value of the related liability that the firm has recorded , which is representative of the firm 2019s view of the likelihood it .\nQuestion: what was the amount of the repurchase liability at end of period for 2012?\nAnswer: 2811.0\nQuestion: and in that same year, what was the total of the make-whole settlements?\nAnswer: 524.0\nQuestion: what became, then, that liability with this total of settlements?\nAnswer: 3335.0\nQuestion: and was this sum two years later, in 2014?\n" }, { "role": "agent", "content": "64.0" } ]
CONVFINQA6620	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nperformance graph the performance graph below shows the five-year cumulative total stockholder return on applied common stock during the period from october 25 , 2009 through october 26 , 2014 . this is compared with the cumulative total return of the standard & poor 2019s 500 stock index and the rdg semiconductor composite index over the same period . the comparison assumes $ 100 was invested on october 25 , 2009 in applied common stock and in each of the foregoing indices and assumes reinvestment of dividends , if any . dollar amounts in the graph are rounded to the nearest whole dollar . the performance shown in the graph represents past performance and should not be considered an indication of future performance . comparison of 5 year cumulative total return* among applied materials , inc. , the s&p 500 index 201cs&p 201d is a registered trademark of standard & poor 2019s financial services llc , a subsidiary of the mcgraw-hill companies , inc. . <table class='wikitable'><tr><td>1</td><td>-</td><td>10/25/2009</td><td>10/31/2010</td><td>10/30/2011</td><td>10/28/2012</td><td>10/27/2013</td><td>10/26/2014</td></tr><tr><td>2</td><td>applied materials</td><td>100.00</td><td>97.43</td><td>101.85</td><td>88.54</td><td>151.43</td><td>183.29</td></tr><tr><td>3</td><td>s&p 500 index</td><td>100.00</td><td>116.52</td><td>125.94</td><td>145.09</td><td>184.52</td><td>216.39</td></tr><tr><td>4</td><td>rdg semiconductor composite index</td><td>100.00</td><td>121.00</td><td>132.42</td><td>124.95</td><td>163.20</td><td>207.93</td></tr></table> dividends during fiscal 2014 , applied 2019s board of directors declared four quarterly cash dividends of $ 0.10 per share each . during fiscal 2013 , applied 2019s board of directors declared three quarterly cash dividends of $ 0.10 per share each and one quarterly cash dividend of $ 0.09 per share . during fiscal 2012 , applied 2019s board of directors declared three quarterly cash dividends of $ 0.09 per share each and one quarterly cash dividend of $ 0.08 . dividends declared during fiscal 2014 , 2013 and 2012 totaled $ 487 million , $ 469 million and $ 438 million , respectively . applied currently anticipates that it will continue to pay cash dividends on a quarterly basis in the future , although the declaration and amount of any future cash dividends are at the discretion of the board of directors and will depend on applied 2019s financial condition , results of operations , capital requirements , business conditions and other factors , as well as a determination that cash dividends are in the best interests of applied 2019s stockholders . $ 100 invested on 10/25/09 in stock or 10/31/09 in index , including reinvestment of dividends . indexes calculated on month-end basis . and the rdg semiconductor composite index 183145 97 102 121 132 10/25/09 10/31/10 10/30/11 10/28/12 10/27/13 10/26/14 applied materials , inc . s&p 500 rdg semiconductor composite .\nQuestion: what was the price of applied materials as of 10/28/12?\nAnswer: 88.54\nQuestion: and the change in price between then and the original investment?\n" }, { "role": "agent", "content": "-11.46" } ]
CONVFINQA3266	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nnotes to consolidated financial statements 2014 ( continued ) fiscal years ended may 27 , 2007 , may 28 , 2006 , and may 29 , 2005 columnar amounts in millions except per share amounts due to the purchase price of the cattle feeding business being entirely financed by the company , the legal divestiture of the cattle feeding operation was not recognized as a divestiture for accounting purposes , and the assets , liabilities and results of operations of the cattle feeding business were reflected in continuing operations in the company 2019s financial statements prior to october 15 , 2004 . on september 24 , 2004 , the company reached an agreement with affiliates of swift foods by which the company took control and ownership of approximately $ 300 million of the net assets of the cattle feeding business , including feedlots and live cattle . on october 15 , 2004 , the company sold the feedlots to smithfield foods for approximately $ 70 million . these transactions resulted in a gain of approximately $ 19 million ( net of taxes of $ 11.6 million ) . the company retained live cattle inventory and related derivative instruments and liquidated those assets in an orderly manner over the succeeding several months . beginning september 24 , 2004 , the assets , liabilities and results of operations , including the gain on sale , of the cattle feeding business are classified as discontinued operations . culturelle business during the first quarter of fiscal 2007 , the company completed its divestiture of its nutritional supplement business for proceeds of approximately $ 8.2 million , resulting in a pre-tax gain of approximately $ 6.2 million ( $ 3.5 million after tax ) . the company reflects this gain within discontinued operations . the results of the aforementioned businesses which have been divested are included within discontinued operations . the summary comparative financial results of discontinued operations were as follows: . <table class='wikitable'><tr><td>1</td><td>-</td><td>2007</td><td>2006</td><td>2005</td></tr><tr><td>2</td><td>net sales</td><td>$ 727.6</td><td>$ 2690.0</td><td>$ 4131.7</td></tr><tr><td>3</td><td>long-lived asset impairment charge</td><td>-21.1 ( 21.1 )</td><td>-240.9 ( 240.9 )</td><td>-59.4 ( 59.4 )</td></tr><tr><td>4</td><td>income from operations of discontinued operations before income taxes</td><td>92.5</td><td>179.7</td><td>157.7</td></tr><tr><td>5</td><td>net gain from disposal of businesses</td><td>64.3</td><td>115.5</td><td>26.3</td></tr><tr><td>6</td><td>income before income taxes</td><td>135.7</td><td>54.3</td><td>124.6</td></tr><tr><td>7</td><td>income tax expense</td><td>-54.9 ( 54.9 )</td><td>-109.8 ( 109.8 )</td><td>-41.8 ( 41.8 )</td></tr><tr><td>8</td><td>income ( loss ) from discontinued operations net of tax</td><td>$ 80.8</td><td>$ -55.5 ( 55.5 )</td><td>$ 82.8</td></tr></table> the effective tax rate for discontinued operations is significantly higher than the statutory rate due to the nondeductibility of certain goodwill of divested businesses . other assets held for sale during the third quarter of fiscal 2006 , the company initiated a plan to dispose of a refrigerated pizza business with annual revenues of less than $ 70 million . during the second quarter of fiscal 2007 , the company disposed of this business for proceeds of approximately $ 22.0 million , resulting in no significant gain or loss . due to the company 2019s expected significant continuing cash flows associated with this business , the results of operations of this business are included in continuing operations for all periods presented . the assets and liabilities of this business are classified as assets and liabilities held for sale in the consolidated balance sheets for all periods prior to the sale . during the second quarter of fiscal 2007 , the company completed the disposal of an oat milling business for proceeds of approximately $ 35.8 million , after final working capital adjustments made during the third quarter .\nQuestion: what was the income ( loss ) from discontinued operations net of tax in 2007?\nAnswer: 80.8\nQuestion: and what was it in 2005?\nAnswer: 82.8\nQuestion: what was, then, the total income ( loss ) from discontinued operations net of tax for both years combined?\nAnswer: 163.6\nQuestion: including 2006, what then becomes that total for the three years combined?\n" }, { "role": "agent", "content": "108.1" } ]
CONVFINQA3528	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nmanagement 2019s discussion and analysis of financial condition and results of operations ( continued ) detail with respect to our investment portfolio as of december 31 , 2014 and 2013 is provided in note 3 to the consolidated financial statements included under item 8 of this form 10-k . loans and leases averaged $ 15.91 billion for the year ended 2014 , up from $ 13.78 billion in 2013 . the increase was mainly related to mutual fund lending and our continued investment in senior secured bank loans . mutual fund lending and senior secured bank loans averaged approximately $ 9.12 billion and $ 1.40 billion , respectively , for the year ended december 31 , 2014 compared to $ 8.16 billion and $ 170 million for the year ended december 31 , 2013 , respectively . average loans and leases also include short- duration advances . table 13 : u.s . and non-u.s . short-duration advances years ended december 31 . <table class='wikitable'><tr><td>1</td><td>( in millions )</td><td>2014</td><td>2013</td><td>2012</td></tr><tr><td>2</td><td>average u.s . short-duration advances</td><td>$ 2355</td><td>$ 2356</td><td>$ 1972</td></tr><tr><td>3</td><td>average non-u.s . short-duration advances</td><td>1512</td><td>1393</td><td>1393</td></tr><tr><td>4</td><td>average total short-duration advances</td><td>$ 3867</td><td>$ 3749</td><td>$ 3365</td></tr><tr><td>5</td><td>average short-durance advances to average loans and leases</td><td>24% ( 24 % )</td><td>27% ( 27 % )</td><td>29% ( 29 % )</td></tr></table> average u.s . short-duration advances $ 2355 $ 2356 $ 1972 average non-u.s . short-duration advances 1512 1393 1393 average total short-duration advances $ 3867 $ 3749 $ 3365 average short-durance advances to average loans and leases 24% ( 24 % ) 27% ( 27 % ) 29% ( 29 % ) the decline in proportion of the average daily short-duration advances to average loans and leases is primarily due to growth in the other segments of the loan and lease portfolio . short-duration advances provide liquidity to clients in support of their investment activities . although average short-duration advances for the year ended december 31 , 2014 increased compared to the year ended december 31 , 2013 , such average advances remained low relative to historical levels , mainly the result of clients continuing to hold higher levels of liquidity . average other interest-earning assets increased to $ 15.94 billion for the year ended december 31 , 2014 from $ 11.16 billion for the year ended december 31 , 2013 . the increased levels were primarily the result of higher levels of cash collateral provided in connection with our enhanced custody business . aggregate average interest-bearing deposits increased to $ 130.30 billion for the year ended december 31 , 2014 from $ 109.25 billion for year ended 2013 . the higher levels were primarily the result of increases in both u.s . and non-u.s . transaction accounts and time deposits . future transaction account levels will be influenced by the underlying asset servicing business , as well as market conditions , including the general levels of u.s . and non-u.s . interest rates . average other short-term borrowings increased to $ 4.18 billion for the year ended december 31 , 2014 from $ 3.79 billion for the year ended 2013 . the increase was the result of a higher level of client demand for our commercial paper . the decline in rates paid from 1.6% ( 1.6 % ) in 2013 to 0.1% ( 0.1 % ) in 2014 resulted from a reclassification of certain derivative contracts that hedge our interest-rate risk on certain assets and liabilities , which reduced interest revenue and interest expense . average long-term debt increased to $ 9.31 billion for the year ended december 31 , 2014 from $ 8.42 billion for the year ended december 31 , 2013 . the increase primarily reflected the issuance of $ 1.5 billion of senior and subordinated debt in may 2013 , $ 1.0 billion of senior debt issued in november 2013 , and $ 1.0 billion of senior debt issued in december 2014 . this is partially offset by the maturities of $ 500 million of senior debt in may 2014 and $ 250 million of senior debt in march 2014 . average other interest-bearing liabilities increased to $ 7.35 billion for the year ended december 31 , 2014 from $ 6.46 billion for the year ended december 31 , 2013 , primarily the result of higher levels of cash collateral received from clients in connection with our enhanced custody business . several factors could affect future levels of our net interest revenue and margin , including the mix of client liabilities ; actions of various central banks ; changes in u.s . and non-u.s . interest rates ; changes in the various yield curves around the world ; revised or proposed regulatory capital or liquidity standards , or interpretations of those standards ; the amount of discount accretion generated by the former conduit securities that remain in our investment securities portfolio ; and the yields earned on securities purchased compared to the yields earned on securities sold or matured . based on market conditions and other factors , we continue to reinvest the majority of the proceeds from pay-downs and maturities of investment securities in highly-rated securities , such as u.s . treasury and agency securities , municipal securities , federal agency mortgage-backed securities and u.s . and non-u.s . mortgage- and asset-backed securities . the pace at which we continue to reinvest and the types of investment securities purchased will depend on the impact of market conditions and other factors over time . we expect these factors and the levels of global interest rates to influence what effect our reinvestment program will have on future levels of our net interest revenue and net interest margin. .\nQuestion: what was the change in the average u.s . short-duration advances from 2012 to 2013?\n" }, { "role": "agent", "content": "384.0" } ]
CONVFINQA4928	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nzimmer biomet holdings , inc . 2018 form 10-k annual report ( 8 ) we have incurred other various expenses from specific events or projects that we consider highly variable or have a significant impact to our operating results that we have excluded from our non-gaap financial measures . this includes legal entity and operational restructuring as well as our costs of complying with our dpa with the u.s . government related to certain fcpa matters involving biomet and certain of its subsidiaries . under the dpa , which has a three-year term , we are subject to oversight by an independent compliance monitor , which monitorship commenced in july 2017 . the excluded costs include the fees paid to the independent compliance monitor and to external legal counsel assisting in the matter . ( 9 ) represents the tax effects on the previously specified items . the tax effect for the u.s . jurisdiction is calculated based on an effective rate considering federal and state taxes , as well as permanent items . for jurisdictions outside the u.s. , the tax effect is calculated based upon the statutory rates where the items were incurred . ( 10 ) the 2016 period includes negative effects from finalizing the tax accounts for the biomet merger . under the applicable u.s . gaap rules , these measurement period adjustments are recognized on a prospective basis in the period of change . ( 11 ) the 2017 tax act resulted in a net favorable provisional adjustment due to the reduction of deferred tax liabilities for unremitted earnings and revaluation of deferred tax liabilities to a 21 percent rate , which was partially offset by provisional tax charges related to the toll charge provision of the 2017 tax act . in 2018 , we finalized our estimates of the effects of the 2017 tax act based upon final guidance issued by u.s . tax authorities . ( 12 ) other certain tax adjustments in 2018 primarily related to changes in tax rates on deferred tax liabilities recorded on intangible assets recognized in acquisition-related accounting and adjustments from internal restructuring transactions that provide us access to offshore funds in a tax efficient manner . in 2017 , other certain tax adjustments relate to tax benefits from lower tax rates unrelated to the impact of the 2017 tax act , net favorable resolutions of various tax matters and net favorable adjustments from internal restructuring transactions . the 2016 adjustment primarily related to a favorable adjustment to certain deferred tax liabilities recognized as part of acquisition-related accounting and favorable resolution of certain tax matters with taxing authorities offset by internal restructuring transactions that provide us access to offshore funds in a tax efficient manner . ( 13 ) diluted share count used in adjusted diluted eps : year ended december 31 , 2018 . <table class='wikitable'><tr><td>1</td><td>-</td><td>year endeddecember 31 2018</td></tr><tr><td>2</td><td>diluted shares</td><td>203.5</td></tr><tr><td>3</td><td>dilutive shares assuming net earnings</td><td>1.5</td></tr><tr><td>4</td><td>adjusted diluted shares</td><td>205.0</td></tr></table> liquidity and capital resources cash flows provided by operating activities were $ 1747.4 million in 2018 compared to $ 1582.3 million and $ 1632.2 million in 2017 and 2016 , respectively . the increase in operating cash flows in 2018 compared to 2017 was driven by additional cash flows from our sale of accounts receivable in certain countries , lower acquisition and integration expenses and lower quality remediation expenses , as well as certain significant payments made in the 2017 period . in the 2017 period , we made payments related to the u.s . durom cup settlement program , and we paid $ 30.5 million in settlement payments to resolve previously-disclosed fcpa matters involving biomet and certain of its subsidiaries as discussed in note 19 to our consolidated financial statements included in item 8 of this report . the decline in operating cash flows in 2017 compared to 2016 was driven by additional investments in inventory , additional expenses for quality remediation and the significant payments made in the 2017 period as discussed in the previous sentence . these unfavorable items were partially offset by $ 174.0 million of incremental cash flows in 2017 from our sale of accounts receivable in certain countries . cash flows used in investing activities were $ 416.6 million in 2018 compared to $ 510.8 million and $ 1691.5 million in 2017 and 2016 , respectively . instrument and property , plant and equipment additions reflected ongoing investments in our product portfolio and optimization of our manufacturing and logistics network . in 2018 , we entered into receive-fixed-rate , pay-fixed-rate cross-currency interest rate swaps . our investing cash flows reflect the net cash inflows from the fixed- rate interest rate receipts/payments , as well as the termination of certain of these swaps that were in a gain position in the year . the 2016 period included cash outflows for the acquisition of ldr holding corporation ( 201cldr 201d ) and other business acquisitions . additionally , the 2016 period reflects the maturity of available-for-sale debt securities . as these investments matured , we used the cash to pay off debt and have not reinvested in any additional debt securities . cash flows used in financing activities were $ 1302.2 million in 2018 . our primary use of available cash in 2018 was for debt repayment . we received net proceeds of $ 749.5 million from the issuance of additional senior notes and borrowed $ 400.0 million from our multicurrency revolving facility to repay $ 1150.0 million of senior notes that became due on april 2 , 2018 . we subsequently repaid the $ 400.0 million of multicurrency revolving facility borrowings . also in 2018 , we borrowed another $ 675.0 million under a new u.s . term loan c and used the cash proceeds along with cash generated from operations throughout the year to repay an aggregate of $ 835.0 million on u.s . term loan a , $ 450.0 million on u.s . term loan b , and we subsequently repaid $ 140.0 million on u.s . term loan c . overall , we had approximately $ 1150 million of net principal repayments on our senior notes and term loans in 2018 . in 2017 , our primary use of available cash was also for debt repayment compared to 2016 when we were not able to repay as much debt due to financing requirements to complete the ldr and other business acquisitions . additionally in 2017 , we had net cash inflows of $ 103.5 million on factoring programs that had not been remitted to the third party . in 2018 , we had net cash outflows related to these factoring programs as we remitted the $ 103.5 million and collected only $ 66.8 million which had not yet been remitted by the end of the year . since our factoring programs started at the end of 2016 , we did not have similar cash flows in that year . in january 2019 , we borrowed an additional $ 200.0 million under u.s . term loan c and used those proceeds , along with cash on hand , to repay the remaining $ 225.0 million outstanding under u.s . term loan b . in february , may , august and december 2018 , our board of directors declared cash dividends of $ 0.24 per share . we expect to continue paying cash dividends on a quarterly basis ; however , future dividends are subject to approval of the board of directors and may be adjusted as business needs or market conditions change . as further discussed in note 11 to our consolidated financial statements , our debt facilities restrict the payment of dividends in certain circumstances. .\nQuestion: what is the cash flow provided by operating activities in 2017?\nAnswer: 1582.3\nQuestion: what about in 2018?\nAnswer: 1747.4\nQuestion: what is the difference between these years?\nAnswer: -165.1\nQuestion: what is the cash flow provided by operating activities in 2017?\nAnswer: 1582.3\nQuestion: what growth rate does this represent?\n" }, { "role": "agent", "content": "-0.10434" } ]
CONVFINQA4682	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nzimmer biomet holdings , inc . 2018 form 10-k annual report ( 8 ) we have incurred other various expenses from specific events or projects that we consider highly variable or have a significant impact to our operating results that we have excluded from our non-gaap financial measures . this includes legal entity and operational restructuring as well as our costs of complying with our dpa with the u.s . government related to certain fcpa matters involving biomet and certain of its subsidiaries . under the dpa , which has a three-year term , we are subject to oversight by an independent compliance monitor , which monitorship commenced in july 2017 . the excluded costs include the fees paid to the independent compliance monitor and to external legal counsel assisting in the matter . ( 9 ) represents the tax effects on the previously specified items . the tax effect for the u.s . jurisdiction is calculated based on an effective rate considering federal and state taxes , as well as permanent items . for jurisdictions outside the u.s. , the tax effect is calculated based upon the statutory rates where the items were incurred . ( 10 ) the 2016 period includes negative effects from finalizing the tax accounts for the biomet merger . under the applicable u.s . gaap rules , these measurement period adjustments are recognized on a prospective basis in the period of change . ( 11 ) the 2017 tax act resulted in a net favorable provisional adjustment due to the reduction of deferred tax liabilities for unremitted earnings and revaluation of deferred tax liabilities to a 21 percent rate , which was partially offset by provisional tax charges related to the toll charge provision of the 2017 tax act . in 2018 , we finalized our estimates of the effects of the 2017 tax act based upon final guidance issued by u.s . tax authorities . ( 12 ) other certain tax adjustments in 2018 primarily related to changes in tax rates on deferred tax liabilities recorded on intangible assets recognized in acquisition-related accounting and adjustments from internal restructuring transactions that provide us access to offshore funds in a tax efficient manner . in 2017 , other certain tax adjustments relate to tax benefits from lower tax rates unrelated to the impact of the 2017 tax act , net favorable resolutions of various tax matters and net favorable adjustments from internal restructuring transactions . the 2016 adjustment primarily related to a favorable adjustment to certain deferred tax liabilities recognized as part of acquisition-related accounting and favorable resolution of certain tax matters with taxing authorities offset by internal restructuring transactions that provide us access to offshore funds in a tax efficient manner . ( 13 ) diluted share count used in adjusted diluted eps : year ended december 31 , 2018 . <table class='wikitable'><tr><td>1</td><td>-</td><td>year endeddecember 31 2018</td></tr><tr><td>2</td><td>diluted shares</td><td>203.5</td></tr><tr><td>3</td><td>dilutive shares assuming net earnings</td><td>1.5</td></tr><tr><td>4</td><td>adjusted diluted shares</td><td>205.0</td></tr></table> liquidity and capital resources cash flows provided by operating activities were $ 1747.4 million in 2018 compared to $ 1582.3 million and $ 1632.2 million in 2017 and 2016 , respectively . the increase in operating cash flows in 2018 compared to 2017 was driven by additional cash flows from our sale of accounts receivable in certain countries , lower acquisition and integration expenses and lower quality remediation expenses , as well as certain significant payments made in the 2017 period . in the 2017 period , we made payments related to the u.s . durom cup settlement program , and we paid $ 30.5 million in settlement payments to resolve previously-disclosed fcpa matters involving biomet and certain of its subsidiaries as discussed in note 19 to our consolidated financial statements included in item 8 of this report . the decline in operating cash flows in 2017 compared to 2016 was driven by additional investments in inventory , additional expenses for quality remediation and the significant payments made in the 2017 period as discussed in the previous sentence . these unfavorable items were partially offset by $ 174.0 million of incremental cash flows in 2017 from our sale of accounts receivable in certain countries . cash flows used in investing activities were $ 416.6 million in 2018 compared to $ 510.8 million and $ 1691.5 million in 2017 and 2016 , respectively . instrument and property , plant and equipment additions reflected ongoing investments in our product portfolio and optimization of our manufacturing and logistics network . in 2018 , we entered into receive-fixed-rate , pay-fixed-rate cross-currency interest rate swaps . our investing cash flows reflect the net cash inflows from the fixed- rate interest rate receipts/payments , as well as the termination of certain of these swaps that were in a gain position in the year . the 2016 period included cash outflows for the acquisition of ldr holding corporation ( 201cldr 201d ) and other business acquisitions . additionally , the 2016 period reflects the maturity of available-for-sale debt securities . as these investments matured , we used the cash to pay off debt and have not reinvested in any additional debt securities . cash flows used in financing activities were $ 1302.2 million in 2018 . our primary use of available cash in 2018 was for debt repayment . we received net proceeds of $ 749.5 million from the issuance of additional senior notes and borrowed $ 400.0 million from our multicurrency revolving facility to repay $ 1150.0 million of senior notes that became due on april 2 , 2018 . we subsequently repaid the $ 400.0 million of multicurrency revolving facility borrowings . also in 2018 , we borrowed another $ 675.0 million under a new u.s . term loan c and used the cash proceeds along with cash generated from operations throughout the year to repay an aggregate of $ 835.0 million on u.s . term loan a , $ 450.0 million on u.s . term loan b , and we subsequently repaid $ 140.0 million on u.s . term loan c . overall , we had approximately $ 1150 million of net principal repayments on our senior notes and term loans in 2018 . in 2017 , our primary use of available cash was also for debt repayment compared to 2016 when we were not able to repay as much debt due to financing requirements to complete the ldr and other business acquisitions . additionally in 2017 , we had net cash inflows of $ 103.5 million on factoring programs that had not been remitted to the third party . in 2018 , we had net cash outflows related to these factoring programs as we remitted the $ 103.5 million and collected only $ 66.8 million which had not yet been remitted by the end of the year . since our factoring programs started at the end of 2016 , we did not have similar cash flows in that year . in january 2019 , we borrowed an additional $ 200.0 million under u.s . term loan c and used those proceeds , along with cash on hand , to repay the remaining $ 225.0 million outstanding under u.s . term loan b . in february , may , august and december 2018 , our board of directors declared cash dividends of $ 0.24 per share . we expect to continue paying cash dividends on a quarterly basis ; however , future dividends are subject to approval of the board of directors and may be adjusted as business needs or market conditions change . as further discussed in note 11 to our consolidated financial statements , our debt facilities restrict the payment of dividends in certain circumstances. .\nQuestion: what was the value of cash provided by operating activities in 2017?\nAnswer: 1582.3\nQuestion: and in 2016?\nAnswer: 1632.2\nQuestion: so what was the change in this value between the two years?\nAnswer: -49.9\nQuestion: and the value for 2016 again?\nAnswer: 1632.2\nQuestion: so what was the percentage change during this time?\n" }, { "role": "agent", "content": "-0.03057" } ]
CONVFINQA4865	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\noperating expenses millions 2012 2011 2010 % ( % ) change 2012 v 2011 % ( % ) change 2011 v 2010 . <table class='wikitable'><tr><td>1</td><td>millions</td><td>2012</td><td>2011</td><td>2010</td><td>% ( % ) change 2012 v 2011</td><td>% ( % ) change 2011 v 2010</td></tr><tr><td>2</td><td>compensation and benefits</td><td>$ 4685</td><td>$ 4681</td><td>$ 4314</td><td>-% ( - % )</td><td>9% ( 9 % )</td></tr><tr><td>3</td><td>fuel</td><td>3608</td><td>3581</td><td>2486</td><td>1</td><td>44</td></tr><tr><td>4</td><td>purchased services and materials</td><td>2143</td><td>2005</td><td>1836</td><td>7</td><td>9</td></tr><tr><td>5</td><td>depreciation</td><td>1760</td><td>1617</td><td>1487</td><td>9</td><td>9</td></tr><tr><td>6</td><td>equipment and other rents</td><td>1197</td><td>1167</td><td>1142</td><td>3</td><td>2</td></tr><tr><td>7</td><td>other</td><td>788</td><td>782</td><td>719</td><td>1</td><td>9</td></tr><tr><td>8</td><td>total</td><td>$ 14181</td><td>$ 13833</td><td>$ 11984</td><td>3% ( 3 % )</td><td>15% ( 15 % )</td></tr></table> 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 .\nQuestion: what was the per-gallon cost of locomotive diesel fuel prices in 2012?\nAnswer: 3.22\nQuestion: and in 2011?\nAnswer: 3.12\nQuestion: so what was the difference between these years?\n" }, { "role": "agent", "content": "0.1" } ]
CONVFINQA10165	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nmanagement 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) net cash used in investing activities during 2013 primarily related to payments for capital expenditures and acquisitions . capital expenditures of $ 173.0 related primarily to computer hardware and software and leasehold improvements . we made payments of $ 61.5 related to acquisitions completed during 2013 , net of cash acquired . financing activities net cash used in financing activities during 2014 primarily related to the purchase of long-term debt , the repurchase of our common stock and payment of dividends . during 2014 , we redeemed all $ 350.0 in aggregate principal amount of the 6.25% ( 6.25 % ) notes , repurchased 14.9 shares of our common stock for an aggregate cost of $ 275.1 , including fees , and made dividend payments of $ 159.0 on our common stock . this was offset by the issuance of $ 500.0 in aggregate principal amount of our 4.20% ( 4.20 % ) notes . net cash used in financing activities during 2013 primarily related to the purchase of long-term debt , the repurchase of our common stock and payment of dividends . we redeemed all $ 600.0 in aggregate principal amount of our 10.00% ( 10.00 % ) notes . in addition , we repurchased 31.8 shares of our common stock for an aggregate cost of $ 481.8 , including fees , and made dividend payments of $ 126.0 on our common stock . foreign exchange rate changes the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 101.0 in 2014 . the decrease was primarily a result of the u.s . dollar being stronger than several foreign currencies , including the canadian dollar , brazilian real , australian dollar and the euro as of december 31 , 2014 compared to december 31 , 2013 . the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 94.1 in 2013 . the decrease was primarily a result of the u.s . dollar being stronger than several foreign currencies , including the australian dollar , brazilian real , canadian dollar , japanese yen , and south african rand as of december 31 , 2013 compared to december 31 , 2012. . <table class='wikitable'><tr><td>1</td><td>balance sheet data</td><td>december 31 , 2014</td><td>december 31 , 2013</td></tr><tr><td>2</td><td>cash cash equivalents and marketable securities</td><td>$ 1667.2</td><td>$ 1642.1</td></tr><tr><td>3</td><td>short-term borrowings</td><td>$ 107.2</td><td>$ 179.1</td></tr><tr><td>4</td><td>current portion of long-term debt</td><td>2.1</td><td>353.6</td></tr><tr><td>5</td><td>long-term debt</td><td>1623.5</td><td>1129.8</td></tr><tr><td>6</td><td>total debt</td><td>$ 1732.8</td><td>$ 1662.5</td></tr></table> liquidity outlook we expect our cash flow from operations , cash and cash equivalents to be sufficient to meet our anticipated operating requirements at a minimum for the next twelve months . we also have a committed corporate credit facility as well as uncommitted facilities available to support our operating needs . we continue to maintain a disciplined approach to managing liquidity , with flexibility over significant uses of cash , including our capital expenditures , cash used for new acquisitions , our common stock repurchase program and our common stock dividends . from time to time , we evaluate market conditions and financing alternatives for opportunities to raise additional funds or otherwise improve our liquidity profile , enhance our financial flexibility and manage market risk . our ability to access the capital markets depends on a number of factors , which include those specific to us , such as our credit rating , and those related to the financial markets , such as the amount or terms of available credit . there can be no guarantee that we would be able to access new sources of liquidity on commercially reasonable terms , or at all. .\nQuestion: how much were the short-term borrowings as of 12/31/14?\nAnswer: 107.2\nQuestion: and as of 12/31/13?\nAnswer: 179.1\nQuestion: and the total value combining these two years?\n" }, { "role": "agent", "content": "286.3" } ]
CONVFINQA4899	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nnotes to consolidated financial statements in march 2008 , the fasb issued guidance which requires entities to provide greater transparency about ( a ) how and why an entity uses derivative instruments , ( b ) how derivative instruments and related hedged items are accounted , and ( c ) how derivative instruments and related hedged items affect an entity 2019s financial position , results of operations , and cash flows . this guidance was effective on january 1 , 2009 . the adoption of this guidance did not have a material impact on our consolidated financial statements . in june 2009 , the fasb issued guidance on accounting for transfers of financial assets . this guidance amends various components of the existing guidance governing sale accounting , including the recog- nition of assets obtained and liabilities assumed as a result of a transfer , and considerations of effective control by a transferor over transferred assets . in addition , this guidance removes the exemption for qualifying special purpose entities from the consolidation guidance . this guidance is effective january 1 , 2010 , with early adoption prohibited . while the amended guidance governing sale accounting is applied on a prospec- tive basis , the removal of the qualifying special purpose entity exception will require us to evaluate certain entities for consolidation . while we are evaluating the effect of adoption of this guidance , we currently believe that its adoption will not have a material impact on our consolidated financial statement . in june 2009 , the fasb amended the guidance for determin- ing whether an entity is a variable interest entity , or vie , and requires the performance of a qualitative rather than a quantitative analysis to determine the primary beneficiary of a vie . under this guidance , an entity would be required to consolidate a vie if it has ( i ) the power to direct the activities that most significantly impact the entity 2019s economic performance and ( ii ) the obligation to absorb losses of the vie or the right to receive benefits from the vie that could be significant to the vie . this guidance is effective for the first annual reporting period that begins after november 15 , 2009 , with early adoption prohibited . while we are currently evaluating the effect of adoption of this guidance , we currently believe that its adoption will not have a material impact on our consoli- dated financial statements . note 3 / property acquisitions 2009 acquisitions during 2009 , we acquired the sub-leasehold positions at 420 lexington avenue for an aggregate purchase price of approximately $ 15.9 million . 2008 acquisitions in february 2008 , we , through our joint venture with jeff sutton , acquired the properties located at 182 broadway and 63 nassau street for approximately $ 30.0 million in the aggregate . these properties are located adjacent to 180 broadway which we acquired in august 2007 . as part of the acquisition we also closed on a $ 31.0 million loan which bears interest at 225 basis points over the 30-day libor . the loan has a three-year term and two one-year extensions . we drew down $ 21.1 mil- lion at the closing to pay the balance of the acquisition costs . during the second quarter of 2008 , we , through a joint ven- ture with nysters , acquired various interests in the fee positions at 919 third avenue for approximately $ 32.8 million . as a result , our joint venture controls the entire fee position . 2007 acquisitions in january 2007 , we acquired reckson for approximately $ 6.0 billion , inclusive of transaction costs . simultaneously , we sold approximately $ 2.0 billion of the reckson assets to an asset purchasing venture led by certain of reckson 2019s former executive management . the transaction included the acquisition of 30 properties encompassing approximately 9.2 million square feet , of which five properties encompassing approxi- mately 4.2 million square feet are located in manhattan . the following summarizes our allocation of the purchase price to the assets and liabilities acquired from reckson ( in thousands ) : . <table class='wikitable'><tr><td>1</td><td>land</td><td>$ 766727</td></tr><tr><td>2</td><td>building</td><td>3724962</td></tr><tr><td>3</td><td>investment in joint venture</td><td>65500</td></tr><tr><td>4</td><td>structured finance investments</td><td>136646</td></tr><tr><td>5</td><td>acquired above-market leases</td><td>24661</td></tr><tr><td>6</td><td>other assets net of other liabilities</td><td>30473</td></tr><tr><td>7</td><td>acquired in-place leases</td><td>175686</td></tr><tr><td>8</td><td>assets acquired</td><td>4924655</td></tr><tr><td>9</td><td>acquired below-market leases</td><td>422177</td></tr><tr><td>10</td><td>minority interest</td><td>401108</td></tr><tr><td>11</td><td>liabilities acquired</td><td>823285</td></tr><tr><td>12</td><td>net assets acquired</td><td>$ 4101370</td></tr></table> .\nQuestion: what is the 9 times 1000?\nAnswer: 9000.0\nQuestion: how many million square feet were purchased?\n" }, { "role": "agent", "content": "9.2" } ]
CONVFINQA9617	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\ns c h e d u l e i v ace limited and subsidiaries s u p p l e m e n t a l i n f o r m a t i o n c o n c e r n i n g r e i n s u r a n c e premiums earned for the years ended december 31 , 2010 , 2009 , and 2008 ( in millions of u.s . dollars , except for percentages ) direct amount ceded to companies assumed from other companies net amount percentage of amount assumed to . <table class='wikitable'><tr><td>1</td><td>for the years ended december 31 2010 2009 and 2008 ( in millions of u.s . dollars except for percentages )</td><td>directamount</td><td>ceded to other companies</td><td>assumed from other companies</td><td>net amount</td><td>percentage of amount assumed to net</td></tr><tr><td>2</td><td>2010</td><td>$ 15780</td><td>$ 5792</td><td>$ 3516</td><td>$ 13504</td><td>26% ( 26 % )</td></tr><tr><td>3</td><td>2009</td><td>$ 15415</td><td>$ 5943</td><td>$ 3768</td><td>$ 13240</td><td>28% ( 28 % )</td></tr><tr><td>4</td><td>2008</td><td>$ 16087</td><td>$ 6144</td><td>$ 3260</td><td>$ 13203</td><td>25% ( 25 % )</td></tr></table> .\nQuestion: what is the value of direct amount in 2010?\n" }, { "role": "agent", "content": "15780.0" } ]
CONVFINQA8637	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nwe are exposed to market risk stemming from changes in interest and foreign exchange rates and commod- ity and equity prices . changes in these factors could cause fl uctuations in our earnings and cash fl ows . in the normal course of business , we actively manage our exposure to these market risks by entering into vari- ous hedging transactions , authorized under established policies that place clear controls on these activities . th e counterparties in these transactions are generally highly rated institutions . we establish credit limits for each counterparty . our hedging transactions include but are not limited to a variety of derivative fi nancial instruments . for information on interest rate , foreign exchange , commodity price , and equity instrument risk , please see note 7 to the consolidated financial statements on page 61 of this report . value at risk th e estimates in the table below are intended to mea- sure the maximum potential fair value we could lose in one day from adverse changes in market interest rates , foreign exchange rates , commodity prices , and equity prices under normal market conditions . a monte carlo value-at-risk ( var ) methodology was used to quantify the market risk for our exposures . th e models assumed normal market conditions and used a 95 percent confi - dence level . th e var calculation used historical interest and for- eign exchange rates , and commodity and equity prices from the past year to estimate the potential volatility and correlation of these rates in the future . th e market data were drawn from the riskmetrics 2122 data set . th e calculations are not intended to represent actual losses in fair value that we expect to incur . further , since the hedging instrument ( the derivative ) inversely cor- relates with the underlying exposure , we would expect that any loss or gain in the fair value of our derivatives would be generally off set by an increase or decrease in the fair value of the underlying exposure . th e positions included in the calculations were : debt ; investments ; interest rate swaps ; foreign exchange forwards ; com- modity swaps , futures and options ; and equity instru- ments . th e calculations do not include the underlying foreign exchange and commodities or equity-related positions that are off set by these market-risk-sensitive instruments . th e table below presents the estimated maximum potential var arising from a one-day loss in fair value for our interest rate , foreign currency , commodity , and equity market-risk-sensitive instruments outstanding as of may 28 , 2017 , and may 29 , 2016 , and the average fair value impact during the year ended may 28 , 2017. . <table class='wikitable'><tr><td>1</td><td>in millions</td><td>fair value impact may 28 2017</td><td>fair value impact averageduringfiscal 2017</td><td>fair value impact may 29 2016</td></tr><tr><td>2</td><td>interest rate instruments</td><td>$ 25.1</td><td>$ 26.5</td><td>$ 33.3</td></tr><tr><td>3</td><td>foreign currency instruments</td><td>24.6</td><td>22.9</td><td>27.6</td></tr><tr><td>4</td><td>commodity instruments</td><td>3.2</td><td>2.5</td><td>3.3</td></tr><tr><td>5</td><td>equity instruments</td><td>1.3</td><td>1.4</td><td>1.7</td></tr></table> quantitative and qualitative disclosures about market risk 44 general mills .\nQuestion: what is the fair value impact of interest rate instruments?\nAnswer: 26.5\nQuestion: what is the value of foreign currency instruments?\n" }, { "role": "agent", "content": "22.9" } ]
CONVFINQA1108	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\ninterest-earning assets including unearned income in the accretion of fair value adjustments on discounts recognized on acquired or purchased loans is recognized based on the constant effective yield of the financial instrument . the timing and amount of revenue that we recognize in any period is dependent on estimates , judgments , assumptions , and interpretation of contractual terms . changes in these factors can have a significant impact on revenue recognized in any period due to changes in products , market conditions or industry norms . residential and commercial mortgage servicing rights we elect to measure our residential mortgage servicing rights ( msrs ) at fair value . this election was made to be consistent with our risk management strategy to hedge changes in the fair value of these assets as described below . the fair value of residential msrs is estimated by using a cash flow valuation model which calculates the present value of estimated future net servicing cash flows , taking into consideration actual and expected mortgage loan prepayment rates , discount rates , servicing costs , and other economic factors which are determined based on current market conditions . assumptions incorporated into the residential msrs valuation model reflect management 2019s best estimate of factors that a market participant would use in valuing the residential msrs . although sales of residential msrs do occur , residential msrs do not trade in an active market with readily observable prices so the precise terms and conditions of sales are not available . as a benchmark for the reasonableness of its residential msrs fair value , pnc obtains opinions of value from independent parties ( 201cbrokers 201d ) . these brokers provided a range ( +/- 10 bps ) based upon their own discounted cash flow calculations of our portfolio that reflected conditions in the secondary market , and any recently executed servicing transactions . pnc compares its internally-developed residential msrs value to the ranges of values received from the brokers . if our residential msrs fair value falls outside of the brokers 2019 ranges , management will assess whether a valuation adjustment is warranted . for 2011 and 2010 , pnc 2019s residential msrs value has not fallen outside of the brokers 2019 ranges . we consider our residential msrs value to represent a reasonable estimate of fair value . commercial msrs are purchased or originated when loans are sold with servicing retained . commercial msrs do not trade in an active market with readily observable prices so the precise terms and conditions of sales are not available . commercial msrs are initially recorded at fair value and are subsequently accounted for at the lower of amortized cost or fair value . commercial msrs are periodically evaluated for impairment . for purposes of impairment , the commercial mortgage servicing rights are stratified based on asset type , which characterizes the predominant risk of the underlying financial asset . the fair value of commercial msrs is estimated by using an internal valuation model . the model calculates the present value of estimated future net servicing cash flows considering estimates of servicing revenue and costs , discount rates and prepayment speeds . pnc employs risk management strategies designed to protect the value of msrs from changes in interest rates and related market factors . residential msrs values are economically hedged with securities and derivatives , including interest-rate swaps , options , and forward mortgage-backed and futures contracts . as interest rates change , these financial instruments are expected to have changes in fair value negatively correlated to the change in fair value of the hedged residential msrs portfolio . the hedge relationships are actively managed in response to changing market conditions over the life of the residential msrs assets . commercial msrs are economically hedged at a macro level or with specific derivatives to protect against a significant decline in interest rates . selecting appropriate financial instruments to economically hedge residential or commercial msrs requires significant management judgment to assess how mortgage rates and prepayment speeds could affect the future values of msrs . hedging results can frequently be less predictable in the short term , but over longer periods of time are expected to protect the economic value of the msrs . the fair value of residential and commercial msrs and significant inputs to the valuation model as of december 31 , 2011 are shown in the tables below . the expected and actual rates of mortgage loan prepayments are significant factors driving the fair value . management uses a third-party model to estimate future residential loan prepayments and internal proprietary models to estimate future commercial loan prepayments . these models have been refined based on current market conditions . future interest rates are another important factor in the valuation of msrs . management utilizes market implied forward interest rates to estimate the future direction of mortgage and discount rates . the forward rates utilized are derived from the current yield curve for u.s . dollar interest rate swaps and are consistent with pricing of capital markets instruments . changes in the shape and slope of the forward curve in future periods may result in volatility in the fair value estimate . residential mortgage servicing rights dollars in millions december 31 december 31 . <table class='wikitable'><tr><td>1</td><td>dollars in millions</td><td>december 31 2011</td><td>december 312010</td></tr><tr><td>2</td><td>fair value</td><td>$ 647</td><td>$ 1033</td></tr><tr><td>3</td><td>weighted-average life ( in years ) ( a )</td><td>3.6</td><td>5.8</td></tr><tr><td>4</td><td>weighted-average constant prepayment rate ( a )</td><td>22.10% ( 22.10 % )</td><td>12.61% ( 12.61 % )</td></tr><tr><td>5</td><td>weighted-average option adjusted spread</td><td>11.77% ( 11.77 % )</td><td>12.18% ( 12.18 % )</td></tr></table> weighted-average constant prepayment rate ( a ) 22.10% ( 22.10 % ) 12.61% ( 12.61 % ) weighted-average option adjusted spread 11.77% ( 11.77 % ) 12.18% ( 12.18 % ) ( a ) changes in weighted-average life and weighted-average constant prepayment rate reflect the cumulative impact of changes in rates , prepayment expectations and model changes . the pnc financial services group , inc . 2013 form 10-k 65 .\nQuestion: what was the fair value of residual mortgage rates in 2010?\nAnswer: 1033.0\nQuestion: what was the value in 2011?\nAnswer: 647.0\nQuestion: what is the sum?\nAnswer: 1680.0\nQuestion: what is the average value per year?\n" }, { "role": "agent", "content": "840.0" } ]
CONVFINQA5312	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\n2010 . on november 1 , 2010 , we redeemed all $ 400 million of our outstanding 6.65% ( 6.65 % ) notes due january 15 , 2011 . the redemption resulted in a $ 5 million early extinguishment charge . receivables securitization facility 2013 at december 31 , 2010 , we have recorded $ 100 million as secured debt under our receivables securitization facility . ( see further discussion of our receivables securitization facility in note 10. ) 15 . variable interest entities we have entered into various lease transactions in which the structure of the leases contain variable interest entities ( vies ) . these vies were created solely for the purpose of doing lease transactions ( principally involving railroad equipment and facilities ) and have no other activities , assets or liabilities outside of the lease transactions . within these lease arrangements , we have the right to purchase some or all of the assets at fixed prices . depending on market conditions , fixed-price purchase options available in the leases could potentially provide benefits to us ; however , these benefits are not expected to be significant . we maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry . as such , we have no control over activities that could materially impact the fair value of the leased assets . we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies . additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase price options are not considered to be potentially significant to the vie 2019s . the future minimum lease payments associated with the vie leases totaled $ 4.2 billion as of december 31 , 2010 . 16 . leases we lease certain locomotives , freight cars , and other property . the consolidated statement of financial position as of december 31 , 2010 and 2009 included $ 2520 million , net of $ 901 million of accumulated depreciation , and $ 2754 million , net of $ 927 million of accumulated depreciation , respectively , for properties held under capital leases . a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income . future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2010 , were as follows : millions operating leases capital leases . <table class='wikitable'><tr><td>1</td><td>millions</td><td>operatingleases</td><td>capitalleases</td></tr><tr><td>2</td><td>2011</td><td>$ 613</td><td>$ 311</td></tr><tr><td>3</td><td>2012</td><td>526</td><td>251</td></tr><tr><td>4</td><td>2013</td><td>461</td><td>253</td></tr><tr><td>5</td><td>2014</td><td>382</td><td>261</td></tr><tr><td>6</td><td>2015</td><td>340</td><td>262</td></tr><tr><td>7</td><td>later years</td><td>2599</td><td>1355</td></tr><tr><td>8</td><td>total minimum lease payments</td><td>$ 4921</td><td>$ 2693</td></tr><tr><td>9</td><td>amount representing interest</td><td>n/a</td><td>-784 ( 784 )</td></tr><tr><td>10</td><td>present value of minimum lease payments</td><td>n/a</td><td>$ 1909</td></tr></table> the majority of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 624 million in 2010 , $ 686 million in 2009 , and $ 747 million in 2008 . when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term . contingent rentals and sub-rentals are not significant. .\nQuestion: what is the difference in operating and capital leases for 2011?\nAnswer: 302.0\nQuestion: what is the value of operating leases?\n" }, { "role": "agent", "content": "613.0" } ]
CONVFINQA9902	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nmanagement 2019s discussion and analysis 126 jpmorgan chase & co./2014 annual report while useful as a current view of credit exposure , the net fair value of the derivative receivables does not capture the potential future variability of that credit exposure . to capture the potential future variability of credit exposure , the firm calculates , on a client-by-client basis , three measures of potential derivatives-related credit loss : peak , derivative risk equivalent ( 201cdre 201d ) , and average exposure ( 201cavg 201d ) . these measures all incorporate netting and collateral benefits , where applicable . peak exposure to a counterparty is an extreme measure of exposure calculated at a 97.5% ( 97.5 % ) confidence level . dre exposure is a measure that expresses the risk of derivative exposure on a basis intended to be equivalent to the risk of loan exposures . the measurement is done by equating the unexpected loss in a derivative counterparty exposure ( which takes into consideration both the loss volatility and the credit rating of the counterparty ) with the unexpected loss in a loan exposure ( which takes into consideration only the credit rating of the counterparty ) . dre is a less extreme measure of potential credit loss than peak and is the primary measure used by the firm for credit approval of derivative transactions . finally , avg is a measure of the expected fair value of the firm 2019s derivative receivables at future time periods , including the benefit of collateral . avg exposure over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit capital and the cva , as further described below . the three year avg exposure was $ 37.5 billion and $ 35.4 billion at december 31 , 2014 and 2013 , respectively , compared with derivative receivables , net of all collateral , of $ 59.4 billion and $ 51.3 billion at december 31 , 2014 and 2013 , respectively . the fair value of the firm 2019s derivative receivables incorporates an adjustment , the cva , to reflect the credit quality of counterparties . the cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market . the primary components of changes in cva are credit spreads , new deal activity or unwinds , and changes in the underlying market environment . the firm believes that active risk management is essential to controlling the dynamic credit risk in the derivatives portfolio . in addition , the firm 2019s risk management process takes into consideration the potential impact of wrong-way risk , which is broadly defined as the potential for increased correlation between the firm 2019s exposure to a counterparty ( avg ) and the counterparty 2019s credit quality . many factors may influence the nature and magnitude of these correlations over time . to the extent that these correlations are identified , the firm may adjust the cva associated with that counterparty 2019s avg . the firm risk manages exposure to changes in cva by entering into credit derivative transactions , as well as interest rate , foreign exchange , equity and commodity derivative transactions . the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the dre and avg metrics . the two measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio . the following table summarizes the ratings profile by derivative counterparty of the firm 2019s derivative receivables , including credit derivatives , net of other liquid securities collateral , for the dates indicated . the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as defined by s&p and moody 2019s . ratings profile of derivative receivables rating equivalent 2014 2013 ( a ) december 31 , ( in millions , except ratios ) exposure net of all collateral % ( % ) of exposure net of all collateral exposure net of all collateral % ( % ) of exposure net of all collateral . <table class='wikitable'><tr><td>1</td><td>rating equivalent december 31 ( in millions except ratios )</td><td>rating equivalent exposure net of all collateral</td><td>rating equivalent % ( % ) of exposure net of all collateral</td><td>exposure net of all collateral</td><td>% ( % ) of exposure net of all collateral</td></tr><tr><td>2</td><td>aaa/aaa to aa-/aa3</td><td>$ 19202</td><td>32% ( 32 % )</td><td>$ 12953</td><td>25% ( 25 % )</td></tr><tr><td>3</td><td>a+/a1 to a-/a3</td><td>13940</td><td>24</td><td>12930</td><td>25</td></tr><tr><td>4</td><td>bbb+/baa1 to bbb-/baa3</td><td>19008</td><td>32</td><td>15220</td><td>30</td></tr><tr><td>5</td><td>bb+/ba1 to b-/b3</td><td>6384</td><td>11</td><td>6806</td><td>13</td></tr><tr><td>6</td><td>ccc+/caa1 and below</td><td>837</td><td>1</td><td>3415</td><td>7</td></tr><tr><td>7</td><td>total</td><td>$ 59371</td><td>100% ( 100 % )</td><td>$ 51324</td><td>100% ( 100 % )</td></tr></table> ( a ) the prior period amounts have been revised to conform with the current period presentation. .\nQuestion: what percentage of the total exposure net of all collateral has a rating equivalent of a+/a1 to a-/a3?\n" }, { "role": "agent", "content": "0.23479" } ]
CONVFINQA9684	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nunited parcel service , inc . and subsidiaries management's discussion and analysis of financial condition and results of operations liquidity and capital resources as of december 31 , 2017 , we had $ 4.069 billion in cash , cash equivalents and marketable securities . we believe that our current cash position , access to the long-term debt capital markets and cash flow generated from operations should be adequate not only for operating requirements but also to enable us to complete our capital expenditure programs and to fund dividend payments , share repurchases and long-term debt payments through the next several years . in addition , we have funds available from our commercial paper program and the ability to obtain alternative sources of financing . we regularly evaluate opportunities to optimize our capital structure , including through issuances of debt to refinance existing debt and to fund ongoing cash needs . cash flows from operating activities the following is a summary of the significant sources ( uses ) of cash from operating activities ( amounts in millions ) : . <table class='wikitable'><tr><td>1</td><td>-</td><td>2017</td><td>2016</td><td>2015</td></tr><tr><td>2</td><td>net income</td><td>$ 4910</td><td>$ 3431</td><td>$ 4844</td></tr><tr><td>3</td><td>non-cash operating activities ( 1 )</td><td>5776</td><td>6444</td><td>4122</td></tr><tr><td>4</td><td>pension and postretirement plan contributions ( ups-sponsored plans )</td><td>-7794 ( 7794 )</td><td>-2668 ( 2668 )</td><td>-1229 ( 1229 )</td></tr><tr><td>5</td><td>hedge margin receivables and payables</td><td>-732 ( 732 )</td><td>-142 ( 142 )</td><td>170</td></tr><tr><td>6</td><td>income tax receivables and payables</td><td>-550 ( 550 )</td><td>-505 ( 505 )</td><td>-6 ( 6 )</td></tr><tr><td>7</td><td>changes in working capital and other non-current assets and liabilities</td><td>-178 ( 178 )</td><td>-62 ( 62 )</td><td>-418 ( 418 )</td></tr><tr><td>8</td><td>other operating activities</td><td>47</td><td>-25 ( 25 )</td><td>-53 ( 53 )</td></tr><tr><td>9</td><td>net cash from operating activities</td><td>$ 1479</td><td>$ 6473</td><td>$ 7430</td></tr></table> ( 1 ) represents depreciation and amortization , gains and losses on derivative transactions and foreign exchange , deferred income taxes , provisions for uncollectible accounts , pension and postretirement benefit expense , stock compensation expense and other non-cash items . cash from operating activities remained strong throughout 2015 to 2017 . most of the variability in operating cash flows during the 2015 to 2017 time period relates to the funding of our company-sponsored pension and postretirement benefit plans ( and related cash tax deductions ) . except for discretionary or accelerated fundings of our plans , contributions to our company- sponsored pension plans have largely varied based on whether any minimum funding requirements are present for individual pension plans . 2022 we made discretionary contributions to our three primary company-sponsored u.s . pension plans totaling $ 7.291 , $ 2.461 and $ 1.030 billion in 2017 , 2016 and 2015 , respectively . 2022 the remaining contributions from 2015 to 2017 were largely due to contributions to our international pension plans and u.s . postretirement medical benefit plans . apart from the transactions described above , operating cash flow was impacted by changes in our working capital position , payments for income taxes and changes in hedge margin payables and receivables . cash payments for income taxes were $ 1.559 , $ 2.064 and $ 1.913 billion for 2017 , 2016 and 2015 , respectively , and were primarily impacted by the timing of current tax deductions . the net hedge margin collateral ( paid ) /received from derivative counterparties was $ ( 732 ) , $ ( 142 ) and $ 170 million during 2017 , 2016 and 2015 , respectively , due to settlements and changes in the fair value of the derivative contracts used in our currency and interest rate hedging programs . as of december 31 , 2017 , the total of our worldwide holdings of cash , cash equivalents and marketable securities were $ 4.069 billion , of which approximately $ 1.800 billion was held by foreign subsidiaries . the amount of cash , cash equivalents and marketable securities held by our u.s . and foreign subsidiaries fluctuates throughout the year due to a variety of factors , including the timing of cash receipts and disbursements in the normal course of business . cash provided by operating activities in the u.s . continues to be our primary source of funds to finance domestic operating needs , capital expenditures , share repurchases and dividend payments to shareowners . as a result of the tax act , all cash , cash equivalents and marketable securities held by foreign subsidiaries are generally available for distribution to the u.s . without any u.s . federal income taxes . any such distributions may be subject to foreign withholding and u.s . state taxes . when amounts earned by foreign subsidiaries are expected to be indefinitely reinvested , no accrual for taxes is provided. .\nQuestion: what were the pension and postretirement plan contributions in 2016?\nAnswer: 2668.0\nQuestion: and in 2015?\nAnswer: 1229.0\nQuestion: so what was the difference between these two years?\n" }, { "role": "agent", "content": "1439.0" } ]
CONVFINQA3379	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nedwards lifesciences corporation notes to consolidated financial statements ( continued ) 12 . common stock ( continued ) the company also maintains the nonemployee directors stock incentive compensation program ( the 2018 2018nonemployee directors program 2019 2019 ) . under the nonemployee directors program , each nonemployee director may receive annually up to 10000 stock options or 4000 restricted stock units of the company 2019s common stock , or a combination thereof , provided that in no event may the total value of the combined annual award exceed $ 0.2 million . additionally , each nonemployee director may elect to receive all or a portion of the annual cash retainer to which the director is otherwise entitled through the issuance of stock options or restricted stock units . each option and restricted stock unit award granted in 2011 or prior generally vests in three equal annual installments . each option and restricted stock unit award granted after 2011 generally vests after one year . upon a director 2019s initial election to the board , the director receives an initial grant of restricted stock units equal to a fair market value on grant date of $ 0.2 million , not to exceed 10000 shares . these grants vest over three years from the date of grant . under the nonemployee directors program , an aggregate of 1.4 million shares of the company 2019s common stock has been authorized for issuance . the company has an employee stock purchase plan for united states employees and a plan for international employees ( collectively 2018 2018espp 2019 2019 ) . under the espp , eligible employees may purchase shares of the company 2019s common stock at 85% ( 85 % ) of the lower of the fair market value of edwards lifesciences common stock on the effective date of subscription or the date of purchase . under the espp , employees can authorize the company to withhold up to 12% ( 12 % ) of their compensation for common stock purchases , subject to certain limitations . the espp is available to all active employees of the company paid from the united states payroll and to eligible employees of the company outside the united states to the extent permitted by local law . the espp for united states employees is qualified under section 423 of the internal revenue code . the number of shares of common stock authorized for issuance under the espp was 6.6 million shares . the fair value of each option award and employee stock purchase subscription is estimated on the date of grant using the black-scholes option valuation model that uses the assumptions noted in the following tables . the risk-free interest rate is estimated using the u.s . treasury yield curve and is based on the expected term of the award . expected volatility is estimated based on a blend of the weighted-average of the historical volatility of edwards 2019 stock and the implied volatility from traded options on edwards 2019 stock . the expected term of awards granted is estimated from the vesting period of the award , as well as historical exercise behavior , and represents the period of time that awards granted are expected to be outstanding . the company uses historical data to estimate forfeitures and has estimated an annual forfeiture rate of 5.1% ( 5.1 % ) . the black-scholes option pricing model was used with the following weighted-average assumptions for options granted during the following periods : option awards . <table class='wikitable'><tr><td>1</td><td>-</td><td>2013</td><td>2012</td><td>2011</td></tr><tr><td>2</td><td>average risk-free interest rate</td><td>0.8% ( 0.8 % )</td><td>0.7% ( 0.7 % )</td><td>1.7% ( 1.7 % )</td></tr><tr><td>3</td><td>expected dividend yield</td><td>none</td><td>none</td><td>none</td></tr><tr><td>4</td><td>expected volatility</td><td>31% ( 31 % )</td><td>31% ( 31 % )</td><td>27% ( 27 % )</td></tr><tr><td>5</td><td>expected life ( years )</td><td>4.6</td><td>4.6</td><td>4.5</td></tr><tr><td>6</td><td>fair value per share</td><td>$ 19.47</td><td>$ 23.93</td><td>$ 22.78</td></tr></table> .\nQuestion: what was the fair value per share in 2013?\nAnswer: 19.47\nQuestion: what was the fair value per share in 2012?\nAnswer: 23.93\nQuestion: what is the change in value?\n" }, { "role": "agent", "content": "-4.46" } ]
CONVFINQA6355	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nfidelity national information services , inc . and subsidiaries notes to consolidated financial statements - ( continued ) contingent consideration liabilities recorded in connection with business acquisitions must also be adjusted for changes in fair value until settled . see note 3 for discussion of the capital markets company bvba ( \"capco\" ) contingent consideration liability . ( d ) derivative financial instruments the company accounts for derivative financial instruments in accordance with financial accounting standards board accounting standards codification ( 201cfasb asc 201d ) topic 815 , derivatives and hedging . during 2016 , 2015 and 2014 , the company engaged in g hedging activities relating to its variable rate debt through the use of interest rate swaps . the company designates these interest rate swaps as cash flow hedges . the estimated fair values of the cash flow hedges are determined using level 2 type measurements . thh ey are recorded as an asset or liability of the company and are included in the accompanying consolidated balance sheets in prepaid expenses and other current assets , other non-current assets , accounts payable and accrued liabilities or other long-term liabilities , as appropriate , and as a component of accumulated other comprehensive earnings , net of deferred taxes . a portion of the amount included in accumulated other comprehensive earnings is recorded in interest expense as a yield adjustment as interest payments are made on then company 2019s term and revolving loans ( note 10 ) . the company 2019s existing cash flow hedge is highly effective and there was no impact on 2016 earnings due to hedge ineffectiveness . it is our policy to execute such instruments with credit-worthy banks and not to enter into derivative financial instruments for speculative purposes . as of december 31 , 2016 , we believe that our interest rate swap counterparty will be able to fulfill its obligations under our agreement . the company's foreign exchange risk management policy permits the use of derivative instruments , such as forward contracts and options , to reduce volatility in the company's results of operations and/or cash flows resulting from foreign exchange rate fluctuations . during 2016 and 2015 , the company entered into foreign currency forward exchange contracts to hedge foreign currency exposure to intercompany loans . as of december 31 , 2016 and 2015 , the notional amount of these derivatives was approximately $ 143 million and aa $ 81 million , respectively , and the fair value was nominal . these derivatives have not been designated as hedges for accounting purposes . we also use currency forward contracts to manage our exposure to fluctuations in costs caused by variations in indian rupee ( \"inr\" ) ii exchange rates . as of december 31 , 2016 , the notional amount of these derivatives was approximately $ 7 million and the fair value was l less than $ 1 million , which is included in prepaid expenses and other current assets in the consolidated balance sheets . these inr forward contracts are designated as cash flow hedges . the fair value of these currency forward contracts is determined using currency uu exchange market rates , obtained from reliable , independent , third party banks , at the balance sheet date . the fair value of forward rr contracts is subject to changes in currency exchange rates . the company has no ineffectiveness related to its use of currency forward ff contracts in connection with inr cash flow hedges . in september 2015 , the company entered into treasury lock hedges with a total notional amount of $ 1.0 billion , reducing the risk of changes in the benchmark index component of the 10-year treasury yield . the company def signated these derivatives as cash flow hedges . on october 13 , 2015 , in conjunction with the pricing of the $ 4.5 billion senior notes , the companyr terminated these treasury lock contracts for a cash settlement payment of $ 16 million , which was recorded as a component of other comprehensive earnings and will be reclassified as an adjustment to interest expense over the ten years during which the related interest payments that were hedged will be recognized in income . ( e ) trade receivables a summary of trade receivables , net , as of december 31 , 2016 and 2015 is as follows ( in millions ) : . <table class='wikitable'><tr><td>1</td><td>-</td><td>2016</td><td>2015</td></tr><tr><td>2</td><td>trade receivables 2014 billed</td><td>$ 1452</td><td>$ 1546</td></tr><tr><td>3</td><td>trade receivables 2014 unbilled</td><td>228</td><td>201</td></tr><tr><td>4</td><td>total trade receivables</td><td>1680</td><td>1747</td></tr><tr><td>5</td><td>allowance for doubtful accounts</td><td>-41 ( 41 )</td><td>-16 ( 16 )</td></tr><tr><td>6</td><td>total trade receivables net</td><td>$ 1639</td><td>$ 1731</td></tr></table> .\nQuestion: what was the change in total trade receivables net from 2015 to 2016, in millions?\nAnswer: -92.0\nQuestion: and how much does that change represent in relation to those total trade receivables net in 2015, in percentage?\n" }, { "role": "agent", "content": "-0.05315" } ]
CONVFINQA4575	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nnotes to consolidated financial statements certain of aon 2019s european subsidiaries have a a650 million ( u.s . $ 942 million ) multi-currency revolving loan credit facility . this facility will mature in october 2010 , unless aon opts to extend the facility . commitment fees of 8.75 basis points are payable on the unused portion of the facility . at december 31 , 2007 , aon has borrowed a376 million and $ 250 million ( $ 795 million ) under this facility . at december 31 , 2006 , a307 million was borrowed . at december 31 , 2007 , $ 250 million of the euro facility is classified as short-term debt in the consolidated statements of financial position . aon has guaranteed the obligations of its subsidiaries with respect to this facility . aon maintains a $ 600 million , 5-year u.s . committed bank credit facility to support commercial paper and other short-term borrowings , which expires in february 2010 . this facility permits the issuance of up to $ 150 million in letters of credit . at december 31 , 2007 and 2006 , aon had $ 20 million in letters of credit outstanding . based on aon 2019s current credit ratings , commitment fees of 10 basis points are payable on the unused portion of the facility . for both the u.s . and euro facilities , aon is required to maintain consolidated net worth , as defined , of at least $ 2.5 billion , a ratio of consolidated ebitda ( earnings before interest , taxes , depreciation and amortization ) to consolidated interest expense of 4 to 1 and a ratio of consolidated debt to ebitda of not greater than 3 to 1 . aon also has other foreign facilities available , which include a a337.5 million ( $ 74 million ) facility , a a25 million ( $ 36 million ) facility , and a a20 million ( $ 29 million ) facility . outstanding debt securities , including aon capital a 2019s , are not redeemable by aon prior to maturity . there are no sinking fund provisions . interest is payable semi-annually on most debt securities . repayments of long-term debt are $ 548 million , $ 382 million and $ 225 million in 2010 , 2011 and 2012 , respectively . other information related to aon 2019s debt is as follows: . <table class='wikitable'><tr><td>1</td><td>years ended december 31</td><td>2007</td><td>2006</td><td>2005</td></tr><tr><td>2</td><td>interest paid ( millions )</td><td>$ 147</td><td>$ 130</td><td>$ 130</td></tr><tr><td>3</td><td>weighted-average interest rates 2014 short-term borrowings</td><td>5.1% ( 5.1 % )</td><td>4.4% ( 4.4 % )</td><td>3.5% ( 3.5 % )</td></tr></table> lease commitments aon has noncancelable operating leases for certain office space , equipment and automobiles . these leases expire at various dates and may contain renewal and expansion options . in addition to base rental costs , occupancy lease agreements generally provide for rent escalations resulting from increased assessments for real estate taxes and other charges . approximately 81% ( 81 % ) of aon 2019s lease obligations are for the use of office space . rental expense for operating leases amounted to $ 368 million , $ 350 million and $ 337 million for 2007 , 2006 and 2005 , respectively , after deducting rentals from subleases ( $ 40 million , $ 33 million and $ 29 million for 2007 , 2006 and 2005 , respectively ) . aon corporation .\nQuestion: what amount of the letter of credit remains available as of december 31 , 2007?\nAnswer: 130.0\nQuestion: what is the total amount of letter of credit that can be issued?\nAnswer: 150.0\nQuestion: what percentage does this represent?\nAnswer: 0.86667\nQuestion: what is the total gross rent in 2007?\n" }, { "role": "agent", "content": "408.0" } ]
CONVFINQA9425	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nperformance graph the performance graph below shows the five-year cumulative total stockholder return on applied common stock during the period from october 28 , 2012 through october 29 , 2017 . this is compared with the cumulative total return of the standard & poor 2019s 500 stock index and the rdg semiconductor composite index over the same period . the comparison assumes $ 100 was invested on october 28 , 2012 in applied common stock and in each of the foregoing indices and assumes reinvestment of dividends , if any . dollar amounts in the graph are rounded to the nearest whole dollar . the performance shown in the graph represents past performance and should not be considered an indication of future performance . comparison of 5 year cumulative total return* among applied materials , inc. , the s&p 500 index and the rdg semiconductor composite index *assumes $ 100 invested on 10/28/12 in stock or 10/31/12 in index , including reinvestment of dividends . indexes calculated on month-end basis . copyright a9 2017 standard & poor 2019s , a division of s&p global . all rights reserved. . <table class='wikitable'><tr><td>1</td><td>-</td><td>10/28/2012</td><td>10/27/2013</td><td>10/26/2014</td><td>10/25/2015</td><td>10/30/2016</td><td>10/29/2017</td></tr><tr><td>2</td><td>applied materials</td><td>100.00</td><td>171.03</td><td>207.01</td><td>165.34</td><td>293.64</td><td>586.91</td></tr><tr><td>3</td><td>s&p 500 index</td><td>100.00</td><td>127.18</td><td>149.14</td><td>156.89</td><td>163.97</td><td>202.72</td></tr><tr><td>4</td><td>rdg semiconductor composite index</td><td>100.00</td><td>131.94</td><td>167.25</td><td>160.80</td><td>193.36</td><td>288.96</td></tr></table> dividends during each of fiscal 2017 , 2016 and 2015 , applied 2019s board of directors declared four quarterly cash dividends in the amount of $ 0.10 per share . applied currently anticipates that cash dividends will continue to be paid on a quarterly basis , although the declaration of any future cash dividend is at the discretion of the board of directors and will depend on applied 2019s financial condition , results of operations , capital requirements , business conditions and other factors , as well as a determination by the board of directors that cash dividends are in the best interests of applied 2019s stockholders . 10/28/12 10/27/13 10/26/14 10/25/15 10/30/16 10/29/17 applied materials , inc . s&p 500 rdg semiconductor composite .\nQuestion: what was the value of the s&p 500 in 2015?\nAnswer: 156.89\nQuestion: what is that less 100?\n" }, { "role": "agent", "content": "56.89" } ]
CONVFINQA8993	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nstock performance graph this performance graph shall not be deemed 201cfiled 201d for purposes of section 18 of the exchange act , or incorporated by reference into any filing of quintiles ims holdings , inc . under the exchange act or under the securities act , except as shall be expressly set forth by specific reference in such filing . the following graph shows a comparison from may 9 , 2013 ( the date our common stock commenced trading on the nyse ) through december 31 , 2016 of the cumulative total return for our common stock , the standard & poor 2019s 500 stock index ( 201cs&p 500 201d ) and a select peer group . the peer group consists of cerner corporation , charles river laboratories , inc. , dun & bradstreet corporation , equifax inc. , icon plc , ihs markit ltd. , inc research holdings , laboratory corporation of america holdings , nielsen n.v. , parexel international corporation , inc. , pra health sciences , inc. , thomson reuters corporation and verisk analytics , inc . the companies in our peer group are publicly traded information services , information technology or contract research companies , and thus share similar business model characteristics to quintilesims , or provide services to similar customers as quintilesims . many of these companies are also used by our compensation committee for purposes of compensation benchmarking . the graph assumes that $ 100 was invested in quintilesims , the s&p 500 and the peer group as of the close of market on may 9 , 2013 , assumes the reinvestments of dividends , if any . the s&p 500 and our peer group are included for comparative purposes only . they do not necessarily reflect management 2019s opinion that the s&p 500 and our peer group are an appropriate measure of the relative performance of the stock involved , and they are not intended to forecast or be indicative of possible future performance of our common stock . s&p 500 quintilesims peer group . <table class='wikitable'><tr><td>1</td><td>-</td><td>5/9/2013</td><td>12/31/2013</td><td>12/31/2014</td><td>12/31/2015</td><td>12/31/2016</td></tr><tr><td>2</td><td>q</td><td>$ 100</td><td>$ 110</td><td>$ 140</td><td>$ 163</td><td>$ 181</td></tr><tr><td>3</td><td>peer group</td><td>$ 100</td><td>$ 116</td><td>$ 143</td><td>$ 151</td><td>$ 143</td></tr><tr><td>4</td><td>s&p 500</td><td>$ 100</td><td>$ 114</td><td>$ 127</td><td>$ 126</td><td>$ 138</td></tr></table> item 6 . selected financial data we have derived the following consolidated statements of income data for 2016 , 2015 and 2014 and consolidated balance sheet data as of december 31 , 2016 and 2015 from our audited consolidated financial .\nQuestion: what was the value of the peer group less 100?\n" }, { "role": "agent", "content": "43.0" } ]
CONVFINQA7452	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nrussia 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 . <table class='wikitable'><tr><td>1</td><td>in millions</td><td>2014</td><td>2013</td><td>2012</td></tr><tr><td>2</td><td>sales</td><td>$ 3403</td><td>$ 3435</td><td>$ 3170</td></tr><tr><td>3</td><td>operating profit</td><td>178</td><td>161</td><td>268</td></tr></table> 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- .\nQuestion: what is 2 times 1000?\nAnswer: 2000.0\nQuestion: what is that divided by 2013 sales?\n" }, { "role": "agent", "content": "0.58224" } ]
CONVFINQA10363	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nj.p . morgan chase & co . / 2003 annual report 33 corporate credit allocation in 2003 , tss was assigned a corporate credit allocation of pre- tax earnings and the associated capital related to certain credit exposures managed within ib 2019s credit portfolio on behalf of clients shared with tss . prior periods have been revised to reflect this allocation . for 2003 , the impact to tss of this change increased pre-tax operating results by $ 36 million and average allocated capital by $ 712 million , and it decreased sva by $ 65 million . pre-tax operating results were $ 46 million lower than in 2002 , reflecting lower loan volumes and higher related expenses , slightly offset by a decrease in credit costs . business outlook tss revenue in 2004 is expected to benefit from improved global equity markets and from two recent acquisitions : the november 2003 acquisition of the bank one corporate trust portfolio , and the january 2004 acquisition of citigroup 2019s electronic funds services business . tss also expects higher costs as it integrates these acquisitions and continues strategic investments to sup- port business expansion . by client segment tss dimensions of 2003 revenue diversification by business revenue by geographic region investor services 36% ( 36 % ) other 1% ( 1 % ) institutional trust services 23% ( 23 % ) treasury services 40% ( 40 % ) large corporations 21% ( 21 % ) middle market 18% ( 18 % ) banks 11% ( 11 % ) nonbank financial institutions 44% ( 44 % ) public sector/governments 6% ( 6 % ) europe , middle east & africa 27% ( 27 % ) asia/pacific 9% ( 9 % ) the americas 64% ( 64 % ) ( a ) includes the elimination of revenue related to shared activities with chase middle market in the amount of $ 347 million . year ended december 31 , operating revenue . <table class='wikitable'><tr><td>1</td><td>year ended december 31 , ( in millions )</td><td>year ended december 31 , 2003</td><td>year ended december 31 , 2002</td><td>change</td></tr><tr><td>2</td><td>treasury services</td><td>$ 1927</td><td>$ 1818</td><td>6% ( 6 % )</td></tr><tr><td>3</td><td>investor services</td><td>1449</td><td>1513</td><td>-4 ( 4 )</td></tr><tr><td>4</td><td>institutional trust services ( a )</td><td>928</td><td>864</td><td>7</td></tr><tr><td>5</td><td>other ( a ) ( b )</td><td>-312 ( 312 )</td><td>-303 ( 303 )</td><td>-3 ( 3 )</td></tr><tr><td>6</td><td>total treasury & securities services</td><td>$ 3992</td><td>$ 3892</td><td>3% ( 3 % )</td></tr></table> ( a ) includes a portion of the $ 41 million gain on sale of a nonstrategic business in 2003 : $ 1 million in institutional trust services and $ 40 million in other . ( b ) includes the elimination of revenues related to shared activities with chase middle market , and a $ 50 million gain on sale of a non-u.s . securities clearing firm in 2002. .\nQuestion: in 2003, how much did the total of investor services represent in relation to the one of treasury services revenues?\n" }, { "role": "agent", "content": "0.75195" } ]
CONVFINQA5086	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nwe maintain and operate the assets based on contractual obligations within the lease arrangements , which set specific guidelines consistent within the railroad industry . as such , we have no control over activities that could materially impact the fair value of the leased assets . we do not hold the power to direct the activities of the vies and , therefore , do not control the ongoing activities that have a significant impact on the economic performance of the vies . additionally , we do not have the obligation to absorb losses of the vies or the right to receive benefits of the vies that could potentially be significant to the we are not considered to be the primary beneficiary and do not consolidate these vies because our actions and decisions do not have the most significant effect on the vie 2019s performance and our fixed-price purchase options are not considered to be potentially significant to the vies . the future minimum lease payments associated with the vie leases totaled $ 2.6 billion as of december 31 , 2015 . 17 . leases we lease certain locomotives , freight cars , and other property . the consolidated statements of financial position as of december 31 , 2015 and 2014 included $ 2273 million , net of $ 1189 million of accumulated depreciation , and $ 2454 million , net of $ 1210 million of accumulated depreciation , respectively , for properties held under capital leases . a charge to income resulting from the depreciation for assets held under capital leases is included within depreciation expense in our consolidated statements of income . future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of december 31 , 2015 , were as follows : millions operating leases capital leases . <table class='wikitable'><tr><td>1</td><td>millions</td><td>operatingleases</td><td>capitalleases</td></tr><tr><td>2</td><td>2016</td><td>$ 491</td><td>$ 217</td></tr><tr><td>3</td><td>2017</td><td>446</td><td>220</td></tr><tr><td>4</td><td>2018</td><td>371</td><td>198</td></tr><tr><td>5</td><td>2019</td><td>339</td><td>184</td></tr><tr><td>6</td><td>2020</td><td>282</td><td>193</td></tr><tr><td>7</td><td>later years</td><td>1501</td><td>575</td></tr><tr><td>8</td><td>total minimum lease payments</td><td>$ 3430</td><td>$ 1587</td></tr><tr><td>9</td><td>amount representing interest</td><td>n/a</td><td>-319 ( 319 )</td></tr><tr><td>10</td><td>present value of minimum lease payments</td><td>n/a</td><td>$ 1268</td></tr></table> approximately 95% ( 95 % ) of capital lease payments relate to locomotives . rent expense for operating leases with terms exceeding one month was $ 590 million in 2015 , $ 593 million in 2014 , and $ 618 million in 2013 . when cash rental payments are not made on a straight-line basis , we recognize variable rental expense on a straight-line basis over the lease term . contingent rentals and sub-rentals are not significant . 18 . commitments and contingencies asserted and unasserted claims 2013 various claims and lawsuits are pending against us and certain of our subsidiaries . we cannot fully determine the effect of all asserted and unasserted claims on our consolidated results of operations , financial condition , or liquidity . to the extent possible , we have recorded a liability where asserted and unasserted claims are considered probable and where such claims can be reasonably estimated . we do not expect that any known lawsuits , claims , environmental costs , commitments , contingent liabilities , or guarantees will have a material adverse effect on our consolidated results of operations , financial condition , or liquidity after taking into account liabilities and insurance recoveries previously recorded for these matters . personal injury 2013 the cost of personal injuries to employees and others related to our activities is charged to expense based on estimates of the ultimate cost and number of incidents each year . we use an actuarial analysis to measure the expense and liability , including unasserted claims . the federal employers 2019 liability act ( fela ) governs compensation for work-related accidents . under fela , damages are assessed based on a finding of fault through litigation or out-of-court settlements . we offer a comprehensive variety of services and rehabilitation programs for employees who are injured at work . our personal injury liability is not discounted to present value due to the uncertainty surrounding the timing of future payments . approximately 94% ( 94 % ) of the recorded liability is related to asserted claims and .\nQuestion: what is the sum of total minimum lease payments for operating and capital leases?\nAnswer: 5017.0\nQuestion: what is the value of capital leases over the total lease value?\n" }, { "role": "agent", "content": "0.31632" } ]
CONVFINQA6434	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\npackaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2006 4 . stock-based compensation ( continued ) as of december 31 , 2006 , there was $ 8330000 of total unrecognized compensation costs related to the restricted stock awards . the company expects to recognize the cost of these stock awards over a weighted-average period of 2.5 years . 5 . accrued liabilities the components of accrued liabilities are as follows: . <table class='wikitable'><tr><td>1</td><td>( in thousands )</td><td>december 31 , 2006</td><td>december 31 , 2005</td></tr><tr><td>2</td><td>bonuses and incentives</td><td>$ 29822</td><td>$ 21895</td></tr><tr><td>3</td><td>medical insurance and workers 2019 compensation</td><td>18279</td><td>18339</td></tr><tr><td>4</td><td>vacation and holiday pay</td><td>14742</td><td>14159</td></tr><tr><td>5</td><td>customer volume discounts and rebates</td><td>13777</td><td>13232</td></tr><tr><td>6</td><td>franchise and property taxes</td><td>8432</td><td>8539</td></tr><tr><td>7</td><td>payroll and payroll taxes</td><td>5465</td><td>4772</td></tr><tr><td>8</td><td>other</td><td>9913</td><td>5889</td></tr><tr><td>9</td><td>total</td><td>$ 100430</td><td>$ 86825</td></tr></table> 6 . employee benefit plans and other postretirement benefits in connection with the acquisition from pactiv , pca and pactiv entered into a human resources agreement which , among other items , granted pca employees continued participation in the pactiv pension plan for a period of up to five years following the closing of the acquisition for an agreed upon fee . effective january 1 , 2003 , pca adopted a mirror-image pension plan for eligible hourly employees to succeed the pactiv pension plan in which pca hourly employees had participated though december 31 , 2002 . the pca pension plan for hourly employees recognizes service earned under both the pca plan and the prior pactiv plan . benefits earned under the pca plan are reduced by retirement benefits earned under the pactiv plan through december 31 , 2002 . all assets and liabilities associated with benefits earned through december 31 , 2002 for hourly employees and retirees of pca were retained by the pactiv plan . effective may 1 , 2004 , pca adopted a grandfathered pension plan for certain salaried employees who had previously participated in the pactiv pension plan pursuant to the above mentioned human resource agreement . the benefit formula for the new pca pension plan for salaried employees is comparable to that of the pactiv plan except that the pca plan uses career average base pay in the benefit formula in lieu of final average base pay . the pca pension plan for salaried employees recognizes service earned under both the pca plan and the prior pactiv plan . benefits earned under the pca plan are reduced by retirement benefits earned under the pactiv plan through april 30 , 2004 . all assets and liabilities associated with benefits earned through april 30 , 2004 for salaried employees and retirees of pca were retained by the pactiv plan . pca maintains a supplemental executive retirement plan ( 201cserp 201d ) , which augments pension benefits for eligible executives ( excluding the ceo ) earned under the pca pension plan for salaried employees . benefits are determined using the same formula as the pca pension plan but in addition to counting .\nQuestion: what was the value of payroll and payroll taxes from 2006?\nAnswer: 5465.0\nQuestion: what was the value from 2005?\nAnswer: 4772.0\nQuestion: what is the net change in value?\n" }, { "role": "agent", "content": "693.0" } ]
CONVFINQA1048	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nthe aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2018 , 2017 , and 2016 the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the periods indicated ( in millions ) : . <table class='wikitable'><tr><td>1</td><td>-</td><td>2018</td><td>2017</td><td>2016</td></tr><tr><td>2</td><td>balance at january 1</td><td>$ 348</td><td>$ 352</td><td>$ 364</td></tr><tr><td>3</td><td>additions for current year tax positions</td><td>2</td><td>2014</td><td>2</td></tr><tr><td>4</td><td>additions for tax positions of prior years</td><td>146</td><td>2</td><td>1</td></tr><tr><td>5</td><td>reductions for tax positions of prior years</td><td>( 26 )</td><td>( 5 )</td><td>( 1 )</td></tr><tr><td>6</td><td>settlements</td><td>2014</td><td>2014</td><td>( 13 )</td></tr><tr><td>7</td><td>lapse of statute of limitations</td><td>( 7 )</td><td>( 1 )</td><td>( 1 )</td></tr><tr><td>8</td><td>balance at december 31</td><td>$ 463</td><td>$ 348</td><td>$ 352</td></tr></table> the company and certain of its subsidiaries are currently under examination by the relevant taxing authorities for various tax years . the company regularly assesses the potential outcome of these examinations in each of the taxing jurisdictions when determining the adequacy of the amount of unrecognized tax benefit recorded . while it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position , we believe we have appropriately accrued for our uncertain tax benefits . however , audit outcomes and the timing of audit settlements and future events that would impact our previously recorded unrecognized tax benefits and the range of anticipated increases or decreases in unrecognized tax benefits are subject to significant uncertainty . it is possible that the ultimate outcome of current or future examinations may exceed our provision for current unrecognized tax benefits in amounts that could be material , but cannot be estimated as of december 31 , 2018 . our effective tax rate and net income in any given future period could therefore be materially impacted . 22 . discontinued operations due to a portfolio evaluation in the first half of 2016 , management decided to pursue a strategic shift of its distribution companies in brazil , sul and eletropaulo , to reduce the company's exposure to the brazilian distribution market . the disposals of sul and eletropaulo were completed in october 2016 and june 2018 , respectively . eletropaulo 2014 in november 2017 , eletropaulo converted its preferred shares into ordinary shares and transitioned the listing of those shares to the novo mercado , which is a listing segment of the brazilian stock exchange with the highest standards of corporate governance . upon conversion of the preferred shares into ordinary shares , aes no longer controlled eletropaulo , but maintained significant influence over the business . as a result , the company deconsolidated eletropaulo . after deconsolidation , the company's 17% ( 17 % ) ownership interest was reflected as an equity method investment . the company recorded an after-tax loss on deconsolidation of $ 611 million , which primarily consisted of $ 455 million related to cumulative translation losses and $ 243 million related to pension losses reclassified from aocl . in december 2017 , all the remaining criteria were met for eletropaulo to qualify as a discontinued operation . therefore , its results of operations and financial position were reported as such in the consolidated financial statements for all periods presented . in june 2018 , the company completed the sale of its entire 17% ( 17 % ) ownership interest in eletropaulo through a bidding process hosted by the brazilian securities regulator , cvm . gross proceeds of $ 340 million were received at our subsidiary in brazil , subject to the payment of taxes . upon disposal of eletropaulo , the company recorded a pre-tax gain on sale of $ 243 million ( after-tax $ 199 million ) . excluding the gain on sale , eletropaulo's pre-tax loss attributable to aes was immaterial for the year ended december 31 , 2018 . eletropaulo's pre-tax loss attributable to aes , including the loss on deconsolidation , for the years ended december 31 , 2017 and 2016 was $ 633 million and $ 192 million , respectively . prior to its classification as discontinued operations , eletropaulo was reported in the south america sbu reportable segment . sul 2014 the company executed an agreement for the sale of sul , a wholly-owned subsidiary , in june 2016 . the results of operations and financial position of sul are reported as discontinued operations in the consolidated financial statements for all periods presented . upon meeting the held-for-sale criteria , the company recognized an after-tax loss of $ 382 million comprised of a pre-tax impairment charge of $ 783 million , offset by a tax benefit of $ 266 million related to the impairment of the sul long lived assets and a tax benefit of $ 135 million for deferred taxes related to the investment in sul . prior to the impairment charge , the carrying value of the sul asset group of $ 1.6 billion was greater than its approximate fair value less costs to sell . however , the impairment charge was limited to the carrying value of the long lived assets of the sul disposal group. .\nQuestion: what was the balance of unrecognized tax benefits at the end of 2018?\nAnswer: 463.0\nQuestion: what was the balance of unrecognized tax benefits at the end of 2017?\n" }, { "role": "agent", "content": "348.0" } ]
CONVFINQA465	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\n2 0 0 8 a n n u a l r e p o r t stock performance graph the following graph sets forth the performance of our series a common , series b common stock , and series c common stock for the period september 18 , 2008 through december 31 , 2008 as compared with the performance of the standard and poor 2019s 500 index and a peer group index which consists of the walt disney company , time warner inc. , cbs corporation class b common stock , viacom , inc . class b common stock , news corporation class a common stock , and scripps network interactive , inc . the graph assumes $ 100 originally invested on september 18 , 2006 and that all subsequent dividends were reinvested in additional shares . september 18 , september 30 , december 31 , 2008 2008 2008 . <table class='wikitable'><tr><td>1</td><td>-</td><td>september 18 2008</td><td>september 30 2008</td><td>december 31 2008</td></tr><tr><td>2</td><td>disca</td><td>$ 100.00</td><td>$ 103.19</td><td>$ 102.53</td></tr><tr><td>3</td><td>discb</td><td>$ 100.00</td><td>$ 105.54</td><td>$ 78.53</td></tr><tr><td>4</td><td>disck</td><td>$ 100.00</td><td>$ 88.50</td><td>$ 83.69</td></tr><tr><td>5</td><td>s&p 500</td><td>$ 100.00</td><td>$ 96.54</td><td>$ 74.86</td></tr><tr><td>6</td><td>peer group</td><td>$ 100.00</td><td>$ 92.67</td><td>$ 68.79</td></tr></table> s&p 500 peer group .\nQuestion: what is the change in value of an investment in disca from sep 18 to dec 31, 2008?\n" }, { "role": "agent", "content": "2.53" } ]
CONVFINQA10224	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nmanagement 2019s discussion and analysis institutional client services our institutional client services segment is comprised of : fixed income , currency and commodities client execution . includes client execution activities related to making markets in interest rate products , credit products , mortgages , currencies and commodities . 2030 interest rate products . government bonds , money market instruments such as commercial paper , treasury bills , repurchase agreements and other highly liquid securities and instruments , as well as interest rate swaps , options and other derivatives . 2030 credit products . investment-grade corporate securities , high-yield securities , credit derivatives , bank and bridge loans , municipal securities , emerging market and distressed debt , and trade claims . 2030 mortgages . commercial mortgage-related securities , loans and derivatives , residential mortgage-related securities , loans and derivatives ( including u.s . government agency-issued collateralized mortgage obligations , other prime , subprime and alt-a securities and loans ) , and other asset-backed securities , loans and derivatives . 2030 currencies . most currencies , including growth-market currencies . 2030 commodities . crude oil and petroleum products , natural gas , base , precious and other metals , electricity , coal , agricultural and other commodity products . equities . includes client execution activities related to making markets in equity products and commissions and fees from executing and clearing institutional client transactions on major stock , options and futures exchanges worldwide , as well as otc transactions . equities also includes our securities services business , which provides financing , securities lending and other prime brokerage services to institutional clients , including hedge funds , mutual funds , pension funds and foundations , and generates revenues primarily in the form of interest rate spreads or fees . the table below presents the operating results of our institutional client services segment. . <table class='wikitable'><tr><td>1</td><td>$ in millions</td><td>year ended december 2014</td><td>year ended december 2013</td><td>year ended december 2012</td></tr><tr><td>2</td><td>fixed income currency and commodities client execution</td><td>$ 8461</td><td>$ 8651</td><td>$ 9914</td></tr><tr><td>3</td><td>equities client execution1</td><td>2079</td><td>2594</td><td>3171</td></tr><tr><td>4</td><td>commissions and fees</td><td>3153</td><td>3103</td><td>3053</td></tr><tr><td>5</td><td>securities services</td><td>1504</td><td>1373</td><td>1986</td></tr><tr><td>6</td><td>total equities</td><td>6736</td><td>7070</td><td>8210</td></tr><tr><td>7</td><td>total net revenues</td><td>15197</td><td>15721</td><td>18124</td></tr><tr><td>8</td><td>operating expenses</td><td>10880</td><td>11792</td><td>12490</td></tr><tr><td>9</td><td>pre-tax earnings</td><td>$ 4317</td><td>$ 3929</td><td>$ 5634</td></tr></table> 1 . net revenues related to the americas reinsurance business were $ 317 million for 2013 and $ 1.08 billion for 2012 . in april 2013 , we completed the sale of a majority stake in our americas reinsurance business and no longer consolidate this business . 42 goldman sachs 2014 annual report .\nQuestion: what was the pre-tax earnings at the end of 2014?\nAnswer: 4317.0\nQuestion: what was the pre-tax earnings at the end of 2013?\nAnswer: 3929.0\nQuestion: what is the net difference?\nAnswer: 388.0\nQuestion: what was the pre-tax earnings at the end of 2013?\n" }, { "role": "agent", "content": "3929.0" } ]
CONVFINQA509	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nthe following is a schedule of future minimum rental payments required under long-term operating leases at october 29 , 2011 : fiscal years operating leases . <table class='wikitable'><tr><td>1</td><td>fiscal years</td><td>operating leases</td></tr><tr><td>2</td><td>2012</td><td>$ 17590</td></tr><tr><td>3</td><td>2013</td><td>12724</td></tr><tr><td>4</td><td>2014</td><td>6951</td></tr><tr><td>5</td><td>2015</td><td>5649</td></tr><tr><td>6</td><td>2016</td><td>3669</td></tr><tr><td>7</td><td>later years</td><td>19472</td></tr><tr><td>8</td><td>total</td><td>$ 66055</td></tr></table> 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 ) .\nQuestion: what is the increase in the total expense related to the defined contribution plan for non-u.s.employees from 2010 to 2011?\n" }, { "role": "agent", "content": "9.7" } ]
CONVFINQA1940	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nadvance auto parts , inc . schedule ii - valuation and qualifying accounts ( in thousands ) allowance for doubtful accounts receivable : balance at beginning of period charges to expenses deductions balance at end of period january 3 , 2015 $ 13295 $ 17182 $ ( 14325 ) ( 1 ) $ 16152 january 2 , 2016 16152 22067 ( 12461 ) ( 1 ) 25758 december 31 , 2016 25758 24597 ( 21191 ) ( 1 ) 29164 ( 1 ) accounts written off during the period . these amounts did not impact the company 2019s statement of operations for any year presented . note : other valuation and qualifying accounts have not been reported in this schedule because they are either not applicable or because the information has been included elsewhere in this report. . <table class='wikitable'><tr><td>1</td><td>allowance for doubtful accounts receivable:</td><td>balance atbeginningof period</td><td>charges toexpenses</td><td>deductions</td><td>-</td><td>balance atend ofperiod</td></tr><tr><td>2</td><td>january 3 2015</td><td>$ 13295</td><td>$ 17182</td><td>$ -14325 ( 14325 )</td><td>-1 ( 1 )</td><td>$ 16152</td></tr><tr><td>3</td><td>january 2 2016</td><td>16152</td><td>22067</td><td>-12461 ( 12461 )</td><td>-1 ( 1 )</td><td>25758</td></tr><tr><td>4</td><td>december 31 2016</td><td>25758</td><td>24597</td><td>-21191 ( 21191 )</td><td>-1 ( 1 )</td><td>29164</td></tr></table> advance auto parts , inc . schedule ii - valuation and qualifying accounts ( in thousands ) allowance for doubtful accounts receivable : balance at beginning of period charges to expenses deductions balance at end of period january 3 , 2015 $ 13295 $ 17182 $ ( 14325 ) ( 1 ) $ 16152 january 2 , 2016 16152 22067 ( 12461 ) ( 1 ) 25758 december 31 , 2016 25758 24597 ( 21191 ) ( 1 ) 29164 ( 1 ) accounts written off during the period . these amounts did not impact the company 2019s statement of operations for any year presented . note : other valuation and qualifying accounts have not been reported in this schedule because they are either not applicable or because the information has been included elsewhere in this report. .\nQuestion: what is the net change in the balance of allowance for doubtful accounts receivable during 2015?\n" }, { "role": "agent", "content": "2857.0" } ]
CONVFINQA9086	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nguarantees and warranties in april 2015 , we entered into joint venture arrangements in saudi arabia . an equity bridge loan has been provided to the joint venture until 2020 to fund equity commitments , and we guaranteed the repayment of our 25% ( 25 % ) share of this loan . our venture partner guaranteed repayment of their share . our maximum exposure under the guarantee is approximately $ 100 . as of 30 september 2015 , we recorded a noncurrent liability of $ 67.5 for our obligation to make future equity contributions based on the equity bridge loan . air products has also entered into a sale of equipment contract with the joint venture to engineer , procure , and construct the industrial gas facilities that will supply gases to saudi aramco . we will provide bank guarantees to the joint venture of up to $ 326 to support our performance under the contract . we are party to an equity support agreement and operations guarantee related to an air separation facility constructed in trinidad for a venture in which we own 50% ( 50 % ) . at 30 september 2015 , maximum potential payments under joint and several guarantees were $ 30.0 . exposures under the guarantee decline over time and will be completely extinguished by 2024 . during the first quarter of 2014 , we sold the remaining portion of our homecare business and entered into an operations guarantee related to obligations under certain homecare contracts assigned in connection with the transaction . our maximum potential payment under the guarantee is a320 million ( approximately $ 30 at 30 september 2015 ) , and our exposure will be extinguished by 2020 . to date , no equity contributions or payments have been made since the inception of these guarantees . the fair value of the above guarantees is not material . we , in the normal course of business operations , have issued product warranties related to equipment sales . also , contracts often contain standard terms and conditions which typically include a warranty and indemnification to the buyer that the goods and services purchased do not infringe on third-party intellectual property rights . the provision for estimated future costs relating to warranties is not material to the consolidated financial statements . we do not expect that any sum we may have to pay in connection with guarantees and warranties will have a material adverse effect on our consolidated financial condition , liquidity , or results of operations . unconditional purchase obligations we are obligated to make future payments under unconditional purchase obligations as summarized below: . <table class='wikitable'><tr><td>1</td><td>2016</td><td>$ 917</td></tr><tr><td>2</td><td>2017</td><td>117</td></tr><tr><td>3</td><td>2018</td><td>63</td></tr><tr><td>4</td><td>2019</td><td>55</td></tr><tr><td>5</td><td>2020</td><td>54</td></tr><tr><td>6</td><td>thereafter</td><td>164</td></tr><tr><td>7</td><td>total</td><td>$ 1370</td></tr></table> approximately $ 390 of our long-term unconditional purchase obligations relate to feedstock supply for numerous hyco ( hydrogen , carbon monoxide , and syngas ) facilities . the price of feedstock supply is principally related to the price of natural gas . however , long-term take-or-pay sales contracts to hyco customers are generally matched to the term of the feedstock supply obligations and provide recovery of price increases in the feedstock supply . due to the matching of most long-term feedstock supply obligations to customer sales contracts , we do not believe these purchase obligations would have a material effect on our financial condition or results of operations . the unconditional purchase obligations also include other product supply and purchase commitments and electric power and natural gas supply purchase obligations , which are primarily pass-through contracts with our customers . purchase commitments to spend approximately $ 540 for additional plant and equipment are included in the unconditional purchase obligations in 2016. .\nQuestion: what was the total of unconditional purchase obligations in 2017?\nAnswer: 117.0\nQuestion: and what was it in 2016?\n" }, { "role": "agent", "content": "917.0" } ]
CONVFINQA6698	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nequity compensation plan information the following table presents the equity securities available for issuance under our equity compensation plans as of december 31 , 2014 . equity compensation plan information plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights ( 2 ) number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( a ) ( b ) ( c ) equity compensation plans approved by security holders 1955024 $ 36.06 4078093 equity compensation plans not approved by security holders ( 3 ) 2014 2014 2014 . <table class='wikitable'><tr><td>1</td><td>plan category</td><td>number of securities to be issued upon exercise of outstanding options warrants and rights ( 1 ) ( a ) ( b )</td><td>weighted-average exercise price of outstanding optionswarrants and rights ( 2 )</td><td>number of securities remaining available for future issuance under equity compensation plans ( excluding securitiesreflected in column ( a ) ) ( c )</td></tr><tr><td>2</td><td>equity compensation plans approved by security holders</td><td>1955024</td><td>$ 36.06</td><td>4078093</td></tr><tr><td>3</td><td>equity compensation plans not approved by security holders ( 3 )</td><td>2014</td><td>2014</td><td>2014</td></tr><tr><td>4</td><td>total</td><td>1955024</td><td>$ 36.06</td><td>4078093</td></tr></table> ( 1 ) includes grants made under the huntington ingalls industries , inc . 2012 long-term incentive stock plan ( the \"2012 plan\" ) , which was approved by our stockholders on may 2 , 2012 , and the huntington ingalls industries , inc . 2011 long-term incentive stock plan ( the \"2011 plan\" ) , which was approved by the sole stockholder of hii prior to its spin-off from northrop grumman corporation . of these shares , 644321 were subject to stock options , 539742 were subject to outstanding restricted performance stock rights , and 63022 were stock rights granted under the 2011 plan . in addition , this number includes 33571 stock rights , 11046 restricted stock rights and 663322 restricted performance stock rights granted under the 2012 plan , assuming target performance achievement . ( 2 ) this is the weighted average exercise price of the 644321 outstanding stock options only . ( 3 ) there are no awards made under plans not approved by security holders . item 13 . certain relationships and related transactions , and director independence information as to certain relationships and related transactions and director independence will be incorporated herein by reference to the proxy statement for our 2015 annual meeting of stockholders to be filed within 120 days after the end of the company 2019s fiscal year . item 14 . principal accountant fees and services information as to principal accountant fees and services will be incorporated herein by reference to the proxy statement for our 2015 annual meeting of stockholders to be filed within 120 days after the end of the company 2019s fiscal year . this proof is printed at 96% ( 96 % ) of original size this line represents final trim and will not print .\nQuestion: what is the total equity approved by security holders?\nAnswer: 6033117.0\nQuestion: wha is the equity compensation plan approved by security holder to be issued upon exercise of outstanding options warrants and rights?\nAnswer: 1955024.0\nQuestion: what proportion does this represent?\nAnswer: 0.32405\nQuestion: what is the number of securities remaining available for future issuance under equity compensation plans that has been approved by security holders?\n" }, { "role": "agent", "content": "4078093.0" } ]
CONVFINQA6476	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\npart i item 1 . business our company founded in 1886 , american water works company , inc . ( the 201ccompany 201d or 201camerican water 201d ) is a holding company incorporated in delaware . american water is the largest and most geographically diverse investor owned publicly-traded united states water and wastewater utility company , as measured by both operating revenues and population served . we employ approximately 6700 professionals who provide drinking water , wastewater and other related services to an estimated 15 million people in 47 states , the district of columbia and ontario , canada . operating segments we conduct our business primarily through our regulated businesses segment . we also operate several market-based businesses that provide a broad range of related and complementary water and wastewater services , which include four operating segments that individually do not meet the criteria of a reportable segment in accordance with generally accepted accounting principles in the united states ( 201cgaap 201d ) . these four non- reportable operating segments are collectively presented as our 201cmarket-based businesses , 201d which is consistent with how management assesses the results of these businesses . additional information can be found in item 7 2014management 2019s discussion and analysis of financial condition and results of operations and note 19 2014segment information in the notes to consolidated financial statements . regulated businesses our primary business involves the ownership of subsidiaries that provide water and wastewater utility services to residential , commercial , industrial and other customers , including sale for resale and public authority customers . our subsidiaries that provide these services operate in approximately 1600 communities in 16 states in the united states and are generally subject to regulation by certain state commissions or other entities engaged in utility regulation , referred to as public utility commissions or ( 201cpucs 201d ) . the federal and state governments also regulate environmental , health and safety , and water quality matters . we report the results of the services provided by our utilities in our regulated businesses segment . our regulated businesses segment 2019s operating revenues were $ 2743 million for 2015 , $ 2674 million for 2014 and $ 2594 million for 2013 , accounting for 86.8% ( 86.8 % ) , 88.8% ( 88.8 % ) and 90.1% ( 90.1 % ) , respectively , of total operating revenues for the same periods . the following table summarizes our regulated businesses 2019 operating revenues , number of customers and estimated population served by state , each as of december 31 , 2015 : operating revenues ( in millions ) % ( % ) of total number of customers % ( % ) of total estimated population served ( in millions ) % ( % ) of total . <table class='wikitable'><tr><td>1</td><td>new jersey</td><td>operatingrevenues ( in millions ) $ 704</td><td>% ( % ) of total 25.7% ( 25.7 % )</td><td>number ofcustomers 660580</td><td>% ( % ) of total 20.3% ( 20.3 % )</td><td>estimatedpopulationserved ( in millions ) 2.7</td><td>% ( % ) of total 22.3% ( 22.3 % )</td></tr><tr><td>2</td><td>pennsylvania</td><td>614</td><td>22.4% ( 22.4 % )</td><td>672407</td><td>20.7% ( 20.7 % )</td><td>2.3</td><td>19.0% ( 19.0 % )</td></tr><tr><td>3</td><td>illinois ( a )</td><td>270</td><td>9.8% ( 9.8 % )</td><td>313058</td><td>9.6% ( 9.6 % )</td><td>1.3</td><td>10.7% ( 10.7 % )</td></tr><tr><td>4</td><td>missouri</td><td>269</td><td>9.8% ( 9.8 % )</td><td>473245</td><td>14.5% ( 14.5 % )</td><td>1.5</td><td>12.4% ( 12.4 % )</td></tr><tr><td>5</td><td>indiana</td><td>206</td><td>7.5% ( 7.5 % )</td><td>295994</td><td>9.1% ( 9.1 % )</td><td>1.3</td><td>10.7% ( 10.7 % )</td></tr><tr><td>6</td><td>california</td><td>198</td><td>7.2% ( 7.2 % )</td><td>174942</td><td>5.4% ( 5.4 % )</td><td>0.6</td><td>5.0% ( 5.0 % )</td></tr><tr><td>7</td><td>west virginia ( b )</td><td>129</td><td>4.7% ( 4.7 % )</td><td>169037</td><td>5.2% ( 5.2 % )</td><td>0.6</td><td>5.0% ( 5.0 % )</td></tr><tr><td>8</td><td>subtotal ( top seven states )</td><td>2390</td><td>87.1% ( 87.1 % )</td><td>2759263</td><td>84.8% ( 84.8 % )</td><td>10.3</td><td>85.1% ( 85.1 % )</td></tr><tr><td>9</td><td>other ( c )</td><td>353</td><td>12.9% ( 12.9 % )</td><td>493428</td><td>15.2% ( 15.2 % )</td><td>1.8</td><td>14.9% ( 14.9 % )</td></tr><tr><td>10</td><td>total regulated businesses</td><td>$ 2743</td><td>100.0% ( 100.0 % )</td><td>3252691</td><td>100.0% ( 100.0 % )</td><td>12.1</td><td>100.0% ( 100.0 % )</td></tr></table> ( a ) includes illinois-american water company and american lake water company . ( b ) includes west virginia-american water company and its subsidiary bluefield valley water works company . ( c ) includes data from our utilities in the following states : georgia , hawaii , iowa , kentucky , maryland , michigan , new york , tennessee and virginia. .\nQuestion: what is the estimated population served in the west virginia market area in million of people?\n" }, { "role": "agent", "content": "0.6" } ]
CONVFINQA1467	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nthe income approach indicates value for an asset or liability based on the present value of cash flow projected to be generated over the remaining economic life of the asset or liability being measured . both the amount and the duration of the cash flows are considered from a market participant perspective . our estimates of market participant net cash flows considered historical and projected pricing , remaining developmental effort , operational performance including company- specific synergies , aftermarket retention , product life cycles , material and labor pricing , and other relevant customer , contractual and market factors . where appropriate , the net cash flows are adjusted to reflect the uncertainties associated with the underlying assumptions , as well as the risk profile of the net cash flows utilized in the valuation . the adjusted future cash flows are then discounted to present value using an appropriate discount rate . projected cash flow is discounted at a required rate of return that reflects the relative risk of achieving the cash flows and the time value of money . the market approach is a valuation technique that uses prices and other relevant information generated by market transactions involving identical or comparable assets , liabilities , or a group of assets and liabilities . valuation techniques consistent with the market approach often use market multiples derived from a set of comparables . the cost approach , which estimates value by determining the current cost of replacing an asset with another of equivalent economic utility , was used , as appropriate , for property , plant and equipment . the cost to replace a given asset reflects the estimated reproduction or replacement cost , less an allowance for loss in value due to depreciation . the purchase price allocation resulted in the recognition of $ 2.8 billion of goodwill , all of which is expected to be amortizable for tax purposes . substantially all of the goodwill was assigned to our rms business . the goodwill recognized is attributable to expected revenue synergies generated by the integration of our products and technologies with those of sikorsky , costs synergies resulting from the consolidation or elimination of certain functions , and intangible assets that do not qualify for separate recognition , such as the assembled workforce of sikorsky . determining the fair value of assets acquired and liabilities assumed requires the exercise of significant judgments , including the amount and timing of expected future cash flows , long-term growth rates and discount rates . the cash flows employed in the dcf analyses are based on our best estimate of future sales , earnings and cash flows after considering factors such as general market conditions , customer budgets , existing firm orders , expected future orders , contracts with suppliers , labor agreements , changes in working capital , long term business plans and recent operating performance . use of different estimates and judgments could yield different results . impact to 2015 financial results sikorsky 2019s 2015 financial results have been included in our consolidated financial results only for the period from the november 6 , 2015 acquisition date through december 31 , 2015 . as a result , our consolidated financial results for the year ended december 31 , 2015 do not reflect a full year of sikorsky 2019s results . from the november 6 , 2015 acquisition date through december 31 , 2015 , sikorsky generated net sales of approximately $ 400 million and operating loss of approximately $ 45 million , inclusive of intangible amortization and adjustments required to account for the acquisition . we incurred approximately $ 38 million of non-recoverable transaction costs associated with the sikorsky acquisition in 2015 that were expensed as incurred . these costs are included in other income , net on our consolidated statements of earnings . we also incurred approximately $ 48 million in costs associated with issuing the $ 7.0 billion november 2015 notes used to repay all outstanding borrowings under the 364-day facility used to finance the acquisition . the financing costs were recorded as a reduction of debt and will be amortized to interest expense over the term of the related debt . supplemental pro forma financial information ( unaudited ) the following table presents summarized unaudited pro forma financial information as if sikorsky had been included in our financial results for the entire years in 2015 and 2014 ( in millions ) : . <table class='wikitable'><tr><td>1</td><td>-</td><td>2015</td><td>2014</td></tr><tr><td>2</td><td>net sales</td><td>$ 45366</td><td>$ 47369</td></tr><tr><td>3</td><td>net earnings</td><td>3534</td><td>3475</td></tr><tr><td>4</td><td>basic earnings per common share</td><td>11.39</td><td>10.97</td></tr><tr><td>5</td><td>diluted earnings per common share</td><td>11.23</td><td>10.78</td></tr></table> the unaudited supplemental pro forma financial data above has been calculated after applying our accounting policies and adjusting the historical results of sikorsky with pro forma adjustments , net of tax , that assume the acquisition occurred on january 1 , 2014 . significant pro forma adjustments include the recognition of additional amortization expense related to acquired intangible assets and additional interest expense related to the short-term debt used to finance the acquisition . these .\nQuestion: what was the net sales in 2015?\nAnswer: 45366.0\nQuestion: and in 2014?\nAnswer: 47369.0\nQuestion: so what was the difference in these two values?\nAnswer: -2003.0\nQuestion: and the value for 2014 again?\nAnswer: 47369.0\nQuestion: and the percentage change during this time?\n" }, { "role": "agent", "content": "-0.04229" } ]
CONVFINQA6940	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nto determine stock-based compensation expense , the grant date fair value is applied to the options granted with a reduction for estimated forfeitures . we recognize compensation expense for stock options on a straight-line basis over the specified vesting period . at december 31 , 2013 and 2012 , options for 10204000 and 12759000 shares of common stock were exercisable at a weighted-average price of $ 89.46 and $ 90.86 , respectively . the total intrinsic value of options exercised during 2014 , 2013 and 2012 was $ 90 million , $ 86 million and $ 37 million , respectively . cash received from option exercises under all incentive plans for 2014 , 2013 and 2012 was approximately $ 215 million , $ 208 million and $ 118 million , respectively . the tax benefit realized from option exercises under all incentive plans for 2014 , 2013 and 2012 was approximately $ 33 million , $ 31 million and $ 14 million , respectively . shares of common stock available during the next year for the granting of options and other awards under the incentive plans were 17997353 at december 31 , 2014 . total shares of pnc common stock authorized for future issuance under equity compensation plans totaled 19017057 shares at december 31 , 2014 , which includes shares available for issuance under the incentive plans and the employee stock purchase plan ( espp ) as described below . during 2014 , we issued approximately 2.4 million shares from treasury stock in connection with stock option exercise activity . as with past exercise activity , we currently intend to utilize primarily treasury stock for any future stock option exercises . awards granted to non-employee directors in 2014 , 2013 and 2012 include 21490 , 27076 and 25620 deferred stock units , respectively , awarded under the outside directors deferred stock unit plan . a deferred stock unit is a phantom share of our common stock , which is accounted for as a liability until such awards are paid to the participants in cash . as there are no vesting or service requirements on these awards , total compensation expense is recognized in full for these awards on the date of grant . incentive/performance unit share awards and restricted stock/share unit awards the fair value of nonvested incentive/performance unit share awards and restricted stock/share unit awards is initially determined based on prices not less than the market value of our common stock on the date of grant . the value of certain incentive/performance unit share awards is subsequently remeasured based on the achievement of one or more financial and other performance goals . the personnel and compensation committee ( 201cp&cc 201d ) of the board of directors approves the final award payout with respect to certain incentive/performance unit share awards . these awards have either a three-year or a four-year performance period and are payable in either stock or a combination of stock and cash . restricted stock/share unit awards have various vesting periods generally ranging from 3 years to 5 years . beginning in 2013 , we incorporated several enhanced risk- related performance changes to certain long-term incentive compensation programs . in addition to achieving certain financial performance metrics on both an absolute basis and relative to our peers , final payout amounts will be subject to reduction if pnc fails to meet certain risk-related performance metrics as specified in the award agreements . however , the p&cc has the discretion to waive any or all of this reduction under certain circumstances . the weighted-average grant date fair value of incentive/ performance unit share awards and restricted stock/unit awards granted in 2014 , 2013 and 2012 was $ 80.79 , $ 64.77 and $ 60.68 per share , respectively . the total fair value of incentive/performance unit share and restricted stock/unit awards vested during 2014 , 2013 and 2012 was approximately $ 119 million , $ 63 million and $ 55 million , respectively . we recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program . table 121 : nonvested incentive/performance unit share awards and restricted stock/share unit awards 2013 rollforward shares in thousands nonvested incentive/ performance unit shares weighted- average grant date fair value nonvested restricted stock/ weighted- average grant date fair value . <table class='wikitable'><tr><td>1</td><td>shares in thousands december 31 2013</td><td>nonvested incentive/ performance unit shares 1647</td><td>weighted-averagegrant datefair value $ 63.49</td><td>nonvested restricted stock/ share units 3483</td><td>weighted-averagegrant datefair value $ 62.70</td></tr><tr><td>2</td><td>granted</td><td>723</td><td>79.90</td><td>1276</td><td>81.29</td></tr><tr><td>3</td><td>vested/released</td><td>-513 ( 513 )</td><td>63.64</td><td>-962 ( 962 )</td><td>62.32</td></tr><tr><td>4</td><td>forfeited</td><td>-20 ( 20 )</td><td>69.18</td><td>-145 ( 145 )</td><td>69.44</td></tr><tr><td>5</td><td>december 31 2014</td><td>1837</td><td>$ 69.84</td><td>3652</td><td>$ 69.03</td></tr></table> the pnc financial services group , inc . 2013 form 10-k 185 .\nQuestion: what was the tax benefit realized from option exercises under all incentive plans in 2014, in millions?\nAnswer: 33.0\nQuestion: and what was it in 2013, also in millions?\nAnswer: 31.0\nQuestion: what was, then, in millions, the total tax of benefit realized from option exercises under all incentive plans for both years combined?\nAnswer: 64.0\nQuestion: what was that tax benefit in 2012, in millions?\n" }, { "role": "agent", "content": "14.0" } ]
CONVFINQA7944	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nentergy texas , inc . and subsidiaries management 2019s financial discussion and analysis gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues increased primarily due to the base rate increases and the volume/weather effect , as discussed above . fuel and purchased power expenses increased primarily due to an increase in demand coupled with an increase in deferred fuel expense as a result of lower fuel refunds in 2011 versus 2010 , partially offset by a decrease in the average market price of natural gas . other regulatory charges decreased primarily due to the distribution in the first quarter 2011 of $ 17.4 million to customers of the 2007 rough production cost equalization remedy receipts . see note 2 to the financial statements for further discussion of the rough production cost equalization proceedings . 2010 compared to 2009 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) . following is an analysis of the change in net revenue comparing 2010 to 2009 . amount ( in millions ) . <table class='wikitable'><tr><td>1</td><td>-</td><td>amount ( in millions )</td></tr><tr><td>2</td><td>2009 net revenue</td><td>$ 485.1</td></tr><tr><td>3</td><td>net wholesale revenue</td><td>27.7</td></tr><tr><td>4</td><td>volume/weather</td><td>27.2</td></tr><tr><td>5</td><td>rough production cost equalization</td><td>18.6</td></tr><tr><td>6</td><td>retail electric price</td><td>16.3</td></tr><tr><td>7</td><td>securitization transition charge</td><td>15.3</td></tr><tr><td>8</td><td>purchased power capacity</td><td>-44.3 ( 44.3 )</td></tr><tr><td>9</td><td>other</td><td>-5.7 ( 5.7 )</td></tr><tr><td>10</td><td>2010 net revenue</td><td>$ 540.2</td></tr></table> the net wholesale revenue variance is primarily due to increased sales to municipal and co-op customers due to the addition of new contracts . the volume/weather variance is primarily due to increased electricity usage primarily in the residential and commercial sectors , resulting from a 1.5% ( 1.5 % ) increase in customers , coupled with the effect of more favorable weather on residential sales . billed electricity usage increased a total of 777 gwh , or 5% ( 5 % ) . the rough production cost equalization variance is due to an additional $ 18.6 million allocation recorded in the second quarter of 2009 for 2007 rough production cost equalization receipts ordered by the puct to texas retail customers over what was originally allocated to entergy texas prior to the jurisdictional separation of entergy gulf states , inc . into entergy gulf states louisiana and entergy texas , effective december 2007 , as discussed in note 2 to the financial statements . the retail electric price variance is primarily due to rate actions , including an annual base rate increase of $ 59 million beginning august 2010 as a result of the settlement of the december 2009 rate case . see note 2 to the financial statements for further discussion of the rate case settlement . the securitization transition charge variance is due to the issuance of securitization bonds . in november 2009 , entergy texas restoration funding , llc , a company wholly-owned and consolidated by entergy texas , issued securitization bonds and with the proceeds purchased from entergy texas the transition property , which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds . the securitization transition charge is offset with a corresponding increase in interest on long-term debt with no impact on net income . see note 5 to the financial statements for further discussion of the securitization bond issuance. .\nQuestion: what was the net revenue in 2010?\nAnswer: 540.2\nQuestion: and what was it in 2009?\nAnswer: 485.1\nQuestion: what was, then, the change over the year?\n" }, { "role": "agent", "content": "55.1" } ]
CONVFINQA1364	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nstock option gains previously deferred by those participants pursuant to the terms of the deferred compensation plan and earnings on those deferred amounts . as a result of certain provisions of the american jobs creation act , participants had the opportunity until december 31 , 2005 to elect to withdraw amounts previously deferred . 11 . lease commitments the company leases certain of its facilities , equipment and software under various operating leases that expire at various dates through 2022 . the lease agreements frequently include renewal and escalation clauses and require the company to pay taxes , insurance and maintenance costs . total rental expense under operating leases was approximately $ 43 million in fiscal 2007 , $ 45 million in fiscal 2006 and $ 44 million in fiscal 2005 . the following is a schedule of future minimum rental payments required under long-term operating leases at november 3 , 2007 : fiscal years operating leases . <table class='wikitable'><tr><td>1</td><td>fiscal years</td><td>operating leases</td></tr><tr><td>2</td><td>2008</td><td>$ 30774</td></tr><tr><td>3</td><td>2009</td><td>$ 25906</td></tr><tr><td>4</td><td>2010</td><td>$ 13267</td></tr><tr><td>5</td><td>2011</td><td>$ 5430</td></tr><tr><td>6</td><td>2012</td><td>$ 3842</td></tr><tr><td>7</td><td>later years</td><td>$ 12259</td></tr><tr><td>8</td><td>total</td><td>$ 91478</td></tr></table> 12 . commitments and contingencies tentative settlement of the sec 2019s previously announced stock option investigation in the company 2019s 2004 form 10-k filing , the company disclosed that the securities and exchange com- mission ( sec ) had initiated an inquiry into its stock option granting practices , focusing on options that were granted shortly before the issuance of favorable financial results . on november 15 , 2005 , the company announced that it had reached a tentative settlement with the sec . at all times since receiving notice of this inquiry , the company has cooperated with the sec . in november 2005 , the company and its president and ceo , mr . jerald g . fishman , made an offer of settlement to the staff of the sec . the settlement has been submitted to the commission for approval . there can be no assurance a final settlement will be so approved . the sec 2019s inquiry focused on two separate issues . the first issue concerned the company 2019s disclosure regarding grants of options to employees and directors prior to the release of favorable financial results . specifically , the issue related to options granted to employees ( including officers ) of the company on november 30 , 1999 and to employees ( including officers ) and directors of the company on november 10 , 2000 . the second issue concerned the grant dates for options granted to employees ( including officers ) in 1998 and 1999 , and the grant date for options granted to employees ( including officers ) and directors in 2001 . specifically , the settlement would conclude that the appropriate grant date for the september 4 , 1998 options should have been september 8th ( which is one trading day later than the date that was used to price the options ) ; the appropriate grant date for the november 30 , 1999 options should have been november 29th ( which is one trading day earlier than the date that was used ) ; and the appropriate grant date for the july 18 , 2001 options should have been july 26th ( which is five trading days after the original date ) . analog devices , inc . notes to consolidated financial statements 2014 ( continued ) .\nQuestion: what was the value of operating leases in 2008?\nAnswer: 30774.0\nQuestion: what is that divided by 1000?\n" }, { "role": "agent", "content": "30.774" } ]
CONVFINQA9210	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nundistributed earnings of $ 696.9 million from certain foreign subsidiaries are considered to be permanently reinvested abroad and will not be repatriated to the united states in the foreseeable future . because those earnings are considered to be indefinitely reinvested , no domestic federal or state deferred income taxes have been provided thereon . if we were to make a distribution of any portion of those earnings in the form of dividends or otherwise , we would be subject to both u.s . income taxes ( subject to an adjustment for foreign tax credits ) and withholding taxes payable to the various foreign jurisdictions . because of the availability of u.s . foreign tax credit carryforwards , it is not practicable to determine the domestic federal income tax liability that would be payable if such earnings were no longer considered to be reinvested indefinitely . a valuation allowance is provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized . changes to our valuation allowance during the years ended may 31 , 2015 and 2014 are summarized below ( in thousands ) : . <table class='wikitable'><tr><td>1</td><td>balance at may 31 2013</td><td>$ -28464 ( 28464 )</td></tr><tr><td>2</td><td>utilization of foreign net operating loss carryforwards</td><td>2822</td></tr><tr><td>3</td><td>allowance for foreign tax credit carryforward</td><td>18061</td></tr><tr><td>4</td><td>other</td><td>382</td></tr><tr><td>5</td><td>balance at may 31 2014</td><td>-7199 ( 7199 )</td></tr><tr><td>6</td><td>utilization of foreign net operating loss carryforwards</td><td>3387</td></tr><tr><td>7</td><td>other</td><td>-11 ( 11 )</td></tr><tr><td>8</td><td>balance at may 31 2015</td><td>$ -3823 ( 3823 )</td></tr></table> net operating loss carryforwards of foreign subsidiaries totaling $ 12.4 million and u.s . net operating loss carryforwards previously acquired totaling $ 19.8 million at may 31 , 2015 will expire between may 31 , 2017 and may 31 , 2033 if not utilized . capital loss carryforwards of u.s . subsidiaries totaling $ 4.7 million will expire if not utilized by may 31 , 2017 . tax credit carryforwards totaling $ 8.4 million at may 31 , 2015 will expire between may 31 , 2017 and may 31 , 2023 if not utilized . we conduct business globally and file income tax returns in the u.s . federal jurisdiction and various state and foreign jurisdictions . in the normal course of business , we are subject to examination by taxing authorities around the world . as a result of events that occurred in the fourth quarter of the year ended may 31 , 2015 , management concluded that it was more likely than not that the tax positions in a foreign jurisdiction , for which we had recorded estimated liabilities of $ 65.6 million in other noncurrent liabilities on our consolidated balance sheet , would be sustained on their technical merits based on information available as of may 31 , 2015 . therefore , the liability and corresponding deferred tax assets were eliminated as of may 31 , 2015 . the uncertain tax positions have been subject to an ongoing examination in that foreign jurisdiction by the tax authority . discussions and correspondence between the tax authority and us during the fourth quarter indicated that the likelihood of the positions being sustained had increased . subsequent to may 31 , 2015 , we received a final closure notice regarding the examination resulting in no adjustments to taxable income related to this matter for the tax returns filed for the periods ended may 31 , 2010 through may 31 , 2013 . the unrecognized tax benefits were effectively settled with this final closure notice . we are no longer subjected to state income tax examinations for years ended on or before may 31 , 2008 , u.s . federal income tax examinations for fiscal years prior to 2012 and united kingdom federal income tax examinations for years ended on or before may 31 , 2013 . 78 2013 global payments inc . \| 2015 form 10-k annual report .\nQuestion: combined, what was the total net operating loss that must be utilized before expiration between 2017 and 2033?\n" }, { "role": "agent", "content": "32.2" } ]
CONVFINQA7708	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\ntable of contents recoverability of goodwill is measured at the reporting unit level and begins with a qualitative assessment to determine if it is more likely than not that the fair value of each reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test prescribed by gaap . for those reporting units where it is required , the first step compares the carrying amount of the reporting unit to its estimated fair value . if the estimated fair value of a reporting unit exceeds its carrying amount , goodwill of the reporting unit is not impaired and the second step of the impairment test is not necessary . to the extent that the carrying value of the reporting unit exceeds its estimated fair value , a second step is performed , wherein the reporting unit's carrying value of goodwill is compared to the implied fair value of goodwill . to the extent that the carrying value exceeds the implied fair value , impairment exists and must be recognized . the calculation of estimated fair value is based on two valuation techniques , a discounted cash flow model ( income approach ) and a market adjusted multiple of earnings and revenues ( market approach ) , with each method being weighted in the calculation . the implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination . the estimated fair value of the reporting unit is allocated to all of the assets and liabilities of the reporting unit ( including any unrecognized intangible assets ) as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit , as determined in the first step of the goodwill impairment test , was the price paid to acquire that reporting unit . recoverability of other intangible assets with indefinite useful lives ( i.e . trademarks ) is determined on a relief from royalty methodology ( income approach ) , which is based on the implied royalty paid , at an appropriate discount rate , to license the use of an asset rather than owning the asset . the present value of the after-tax cost savings ( i.e . royalty relief ) indicates the estimated fair value of the asset . any excess of the carrying value over the estimated fair value is recognized as an impairment loss equal to that excess . intangible assets such as patents , customer-related intangible assets and other intangible assets with finite useful lives are amortized on a straight-line basis over their estimated economic lives . the weighted-average useful lives approximate the following: . <table class='wikitable'><tr><td>1</td><td>customer relationships</td><td>25</td><td>years</td></tr><tr><td>2</td><td>trademarks</td><td>25</td><td>years</td></tr><tr><td>3</td><td>completed technology/patents</td><td>10</td><td>years</td></tr><tr><td>4</td><td>other</td><td>25</td><td>years</td></tr></table> recoverability of intangible assets with finite useful lives is assessed in the same manner as property , plant and equipment as described above . income taxes : for purposes of the company 2019s consolidated financial statements for periods prior to the spin-off , income tax expense has been recorded as if the company filed tax returns on a stand-alone basis separate from ingersoll rand . this separate return methodology applies the accounting guidance for income taxes to the stand-alone financial statements as if the company was a stand-alone enterprise for the periods prior to the spin-off . therefore , cash tax payments and items of current and deferred taxes may not be reflective of the company 2019s actual tax balances prior to or subsequent to the spin-off . cash paid for income taxes for the year ended december 31 , 2015 was $ 80.6 million . the income tax accounts reflected in the consolidated balance sheets as of december 31 , 2015 and 2014 include income taxes payable and deferred taxes allocated to the company at the time of the spin-off . the calculation of the company 2019s income taxes involves considerable judgment and the use of both estimates and allocations . deferred tax assets and liabilities are determined based on temporary differences between financial reporting and tax bases of assets and liabilities , applying enacted tax rates expected to be in effect for the year in which the differences are expected to reverse . the company recognizes future tax benefits , such as net operating losses and tax credits , to the extent that realizing these benefits is considered in its judgment to be more likely than not . the company regularly reviews the recoverability of its deferred tax assets considering its historic profitability , projected future taxable income , timing of the reversals of existing temporary differences and the feasibility of its tax planning strategies . where appropriate , the company records a valuation allowance with respect to a future tax benefit . product warranties : standard product warranty accruals are recorded at the time of sale and are estimated based upon product warranty terms and historical experience . the company assesses the adequacy of its liabilities and will make adjustments as necessary based on known or anticipated warranty claims , or as new information becomes available. .\nQuestion: what is the sum of years for customer relationships and trademarks?\n" }, { "role": "agent", "content": "50.0" } ]
CONVFINQA2685	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nz i m m e r h o l d i n g s , i n c . a n d s u b s i d i a r i e s 2 0 0 4 f o r m 1 0 - k notes to consolidated financial statements ( continued ) the company and implex had been operating since 2000 , the following table summarizes the estimated fair values relating to the development and distribution of reconstructive of the assets acquired and liabilities assumed at the date of implant and trauma products incorporating trabecular metal the implex acquisition : ( in millions ) technology . as ofthe merger agreement contains provisions for additional april 23 , 2004annual cash earn-out payments that are based on year-over- current assets $ 23.1year sales growth through 2006 of certain products that . <table class='wikitable'><tr><td>1</td><td>-</td><td>as of april 23 2004</td></tr><tr><td>2</td><td>current assets</td><td>$ 23.1</td></tr><tr><td>3</td><td>property plant and equipment</td><td>4.5</td></tr><tr><td>4</td><td>intangible assets subject to amortization:</td><td>-</td></tr><tr><td>5</td><td>core technology ( 30 year useful life )</td><td>3.6</td></tr><tr><td>6</td><td>developed technology ( 30 year useful life )</td><td>103.9</td></tr><tr><td>7</td><td>other assets</td><td>14.4</td></tr><tr><td>8</td><td>goodwill</td><td>61.0</td></tr><tr><td>9</td><td>total assets acquired</td><td>210.5</td></tr><tr><td>10</td><td>current liabilities</td><td>14.1</td></tr><tr><td>11</td><td>deferred taxes</td><td>43.3</td></tr><tr><td>12</td><td>total liabilities assumed</td><td>57.4</td></tr><tr><td>13</td><td>net assets acquired</td><td>$ 153.1</td></tr></table> estimates total earn-out payments , including payments core technology ( 30 year useful life ) 3.6 already made , to be in a range from $ 120 to $ 160 million . developed technology ( 30 year useful life ) 103.9 other assets 14.4these earn-out payments represent contingent consideration goodwill 61.0and , in accordance with sfas no . 141 and eitf 95-8 2018 2018accounting for contingent consideration paid to the total assets acquired 210.5 shareholders of an acquired enterprise in a purchase current liabilities 14.1 deferred taxes 43.3business combination 2019 2019 , are recorded as an additional cost of the transaction upon resolution of the contingency and total liabilities assumed 57.4 therefore increase goodwill . net assets acquired $ 153.1the implex acquisition was accounted for under the purchase method of accounting pursuant to sfas no . 141 . 4 . change in accounting principle accordingly , implex results of operations have been included in the company 2019s consolidated results of operations instruments are hand held devices used by orthopaedic subsequent to april 23 , 2004 , and its respective assets and surgeons during total joint replacement and other surgical liabilities have been recorded at their estimated fair values in procedures . effective january 1 , 2003 , instruments are the company 2019s consolidated statement of financial position as recognized as long-lived assets and are included in property , of april 23 , 2004 , with the excess purchase price being plant and equipment . undeployed instruments are carried at allocated to goodwill . pro forma financial information has not cost , net of allowances for obsolescence . instruments in the been included as the acquisition did not have a material field are carried at cost less accumulated depreciation . impact upon the company 2019s financial position , results of depreciation is computed using the straight-line method operations or cash flows . based on average estimated useful lives , determined the company completed the preliminary purchase price principally in reference to associated product life cycles , allocation in accordance with u.s . generally accepted primarily five years . in accordance with sfas no . 144 , the accounting principles . the process included interviews with company reviews instruments for impairment whenever management , review of the economic and competitive events or changes in circumstances indicate that the carrying environment and examination of assets including historical value of an asset may not be recoverable . an impairment loss performance and future prospects . the preliminary purchase would be recognized when estimated future cash flows price allocation was based on information currently available relating to the asset are less than its carrying amount . to the company , and expectations and assumptions deemed depreciation of instruments is recognized as selling , general reasonable by the company 2019s management . no assurance can and administrative expense , consistent with the classification be given , however , that the underlying assumptions used to of instrument cost in periods prior to january 1 , 2003 . estimate expected technology based product revenues , prior to january 1 , 2003 , undeployed instruments were development costs or profitability , or the events associated carried as a prepaid expense at cost , net of allowances for with such technology , will occur as projected . the final obsolescence ( $ 54.8 million , net , at december 31 , 2002 ) , and purchase price allocation may vary from the preliminary recognized in selling , general and administrative expense in purchase price allocation . the final valuation and associated the year in which the instruments were placed into service . purchase price allocation is expected to be completed as the new method of accounting for instruments was adopted soon as possible , but no later than one year from the date of to recognize the cost of these important assets of the acquisition . to the extent that the estimates need to be company 2019s business within the consolidated balance sheet adjusted , the company will do so . and meaningfully allocate the cost of these assets over the periods benefited , typically five years . the effect of the change during the year ended december 31 , 2003 was to increase earnings before cumulative effect of change in accounting principle by $ 26.8 million ( $ 17.8 million net of tax ) , or $ 0.08 per diluted share . the cumulative effect adjustment of $ 55.1 million ( net of income taxes of $ 34.0 million ) to retroactively apply the .\nQuestion: what was the amount of total assets acquired?\nAnswer: 210.5\nQuestion: and what was the total of net assets acquired?\n" }, { "role": "agent", "content": "153.1" } ]
CONVFINQA10299	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nentergy arkansas , inc . management's financial discussion and analysis fuel and purchased power expenses increased primarily due to increased recovery of deferred fuel and purchased power costs primarily due to an increase in april 2004 in the energy cost recovery rider and the true-ups to the 2003 and 2002 energy cost recovery rider filings . other regulatory credits decreased primarily due to the over-recovery of grand gulf costs due to an increase in the grand gulf rider effective january 2004 . 2003 compared to 2002 net revenue , which is entergy arkansas' measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory credits . following is an analysis of the change in net revenue comparing 2003 to 2002. . <table class='wikitable'><tr><td>1</td><td>-</td><td>( in millions )</td></tr><tr><td>2</td><td>2002 net revenue</td><td>$ 1095.9</td></tr><tr><td>3</td><td>march 2002 settlement agreement</td><td>-154.0 ( 154.0 )</td></tr><tr><td>4</td><td>volume/weather</td><td>-7.7 ( 7.7 )</td></tr><tr><td>5</td><td>asset retirement obligation</td><td>30.1</td></tr><tr><td>6</td><td>net wholesale revenue</td><td>16.6</td></tr><tr><td>7</td><td>deferred fuel cost revisions</td><td>10.2</td></tr><tr><td>8</td><td>other</td><td>7.6</td></tr><tr><td>9</td><td>2003 net revenue</td><td>$ 998.7</td></tr></table> the march 2002 settlement agreement resolved a request for recovery of ice storm costs incurred in december 2000 with an offset of those costs for funds contributed to pay for future stranded costs . a 1997 settlement provided for the collection of earnings in excess of an 11% ( 11 % ) return on equity in a transition cost account ( tca ) to offset stranded costs if retail open access were implemented . in mid- and late december 2000 , two separate ice storms left 226000 and 212500 entergy arkansas customers , respectively , without electric power in its service area . entergy arkansas filed a proposal to recover costs plus carrying charges associated with power restoration caused by the ice storms . entergy arkansas' final storm damage cost determination reflected costs of approximately $ 195 million . the apsc approved a settlement agreement submitted in march 2002 by entergy arkansas , the apsc staff , and the arkansas attorney general . in the march 2002 settlement , the parties agreed that $ 153 million of the ice storm costs would be classified as incremental ice storm expenses that can be offset against the tca on a rate class basis , and any excess of ice storm costs over the amount available in the tca would be deferred and amortized over 30 years , although such excess costs were not allowed to be included as a separate component of rate base . the allocated ice storm expenses exceeded the available tca funds by $ 15.8 million which was recorded as a regulatory asset in june 2002 . in accordance with the settlement agreement and following the apsc's approval of the 2001 earnings review related to the tca , entergy arkansas filed to return $ 18.1 million of the tca to certain large general service class customers that paid more into the tca than their allocation of storm costs . the apsc approved the return of funds to the large general service customer class in the form of refund checks in august 2002 . as part of the implementation of the march 2002 settlement agreement provisions , the tca procedure ceased with the 2001 earnings evaluation . of the remaining ice storm costs , $ 32.2 million was addressed through established ratemaking procedures , including $ 22.2 million classified as capital additions , while $ 3.8 million of the ice storm costs was not recovered through rates . the effect on net income of the march 2002 settlement agreement and 2001 earnings review was a $ 2.2 million increase in 2003 , because the decrease in net revenue was offset by the decrease in operation and maintenance expenses discussed below. .\nQuestion: what is the net change in net revenue from 2002 to 2003?\n" }, { "role": "agent", "content": "-97.2" } ]
CONVFINQA5422	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nfidelity national information services , inc . and subsidiaries notes to consolidated financial statements - ( continued ) contingent consideration liabilities recorded in connection with business acquisitions must also be adjusted for changes in fair value until settled . see note 3 for discussion of the capital markets company bvba ( \"capco\" ) contingent consideration liability . ( d ) derivative financial instruments the company accounts for derivative financial instruments in accordance with financial accounting standards board accounting standards codification ( 201cfasb asc 201d ) topic 815 , derivatives and hedging . during 2016 , 2015 and 2014 , the company engaged in g hedging activities relating to its variable rate debt through the use of interest rate swaps . the company designates these interest rate swaps as cash flow hedges . the estimated fair values of the cash flow hedges are determined using level 2 type measurements . thh ey are recorded as an asset or liability of the company and are included in the accompanying consolidated balance sheets in prepaid expenses and other current assets , other non-current assets , accounts payable and accrued liabilities or other long-term liabilities , as appropriate , and as a component of accumulated other comprehensive earnings , net of deferred taxes . a portion of the amount included in accumulated other comprehensive earnings is recorded in interest expense as a yield adjustment as interest payments are made on then company 2019s term and revolving loans ( note 10 ) . the company 2019s existing cash flow hedge is highly effective and there was no impact on 2016 earnings due to hedge ineffectiveness . it is our policy to execute such instruments with credit-worthy banks and not to enter into derivative financial instruments for speculative purposes . as of december 31 , 2016 , we believe that our interest rate swap counterparty will be able to fulfill its obligations under our agreement . the company's foreign exchange risk management policy permits the use of derivative instruments , such as forward contracts and options , to reduce volatility in the company's results of operations and/or cash flows resulting from foreign exchange rate fluctuations . during 2016 and 2015 , the company entered into foreign currency forward exchange contracts to hedge foreign currency exposure to intercompany loans . as of december 31 , 2016 and 2015 , the notional amount of these derivatives was approximately $ 143 million and aa $ 81 million , respectively , and the fair value was nominal . these derivatives have not been designated as hedges for accounting purposes . we also use currency forward contracts to manage our exposure to fluctuations in costs caused by variations in indian rupee ( \"inr\" ) ii exchange rates . as of december 31 , 2016 , the notional amount of these derivatives was approximately $ 7 million and the fair value was l less than $ 1 million , which is included in prepaid expenses and other current assets in the consolidated balance sheets . these inr forward contracts are designated as cash flow hedges . the fair value of these currency forward contracts is determined using currency uu exchange market rates , obtained from reliable , independent , third party banks , at the balance sheet date . the fair value of forward rr contracts is subject to changes in currency exchange rates . the company has no ineffectiveness related to its use of currency forward ff contracts in connection with inr cash flow hedges . in september 2015 , the company entered into treasury lock hedges with a total notional amount of $ 1.0 billion , reducing the risk of changes in the benchmark index component of the 10-year treasury yield . the company def signated these derivatives as cash flow hedges . on october 13 , 2015 , in conjunction with the pricing of the $ 4.5 billion senior notes , the companyr terminated these treasury lock contracts for a cash settlement payment of $ 16 million , which was recorded as a component of other comprehensive earnings and will be reclassified as an adjustment to interest expense over the ten years during which the related interest payments that were hedged will be recognized in income . ( e ) trade receivables a summary of trade receivables , net , as of december 31 , 2016 and 2015 is as follows ( in millions ) : . <table class='wikitable'><tr><td>1</td><td>-</td><td>2016</td><td>2015</td></tr><tr><td>2</td><td>trade receivables 2014 billed</td><td>$ 1452</td><td>$ 1546</td></tr><tr><td>3</td><td>trade receivables 2014 unbilled</td><td>228</td><td>201</td></tr><tr><td>4</td><td>total trade receivables</td><td>1680</td><td>1747</td></tr><tr><td>5</td><td>allowance for doubtful accounts</td><td>-41 ( 41 )</td><td>-16 ( 16 )</td></tr><tr><td>6</td><td>total trade receivables net</td><td>$ 1639</td><td>$ 1731</td></tr></table> .\nQuestion: what was the difference in total trade receivables between 2015 and 2016?\nAnswer: -67.0\nQuestion: and the specific amount for 2015?\nAnswer: 1747.0\nQuestion: so what was the percentage change?\n" }, { "role": "agent", "content": "-0.03835" } ]
CONVFINQA7499	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nfailure to comply with the financial and other covenants under our credit facilities , as well as the occurrence of certain material adverse events , would constitute defaults and would allow the lenders under our credit facilities to accelerate the maturity of all indebtedness under the related agreements . this could also have an adverse impact on the availability of financial assurances . in addition , maturity acceleration on our credit facilities constitutes an event of default under our other debt instruments , including our senior notes , and , therefore , our senior notes would also be subject to acceleration of maturity . if such acceleration were to occur , we would not have sufficient liquidity available to repay the indebtedness . we would likely have to seek an amendment under our credit facilities for relief from the financial covenants or repay the debt with proceeds from the issuance of new debt or equity , or asset sales , if necessary . we may be unable to amend our credit facilities or raise sufficient capital to repay such obligations in the event the maturities are accelerated . financial assurance we are required to provide financial assurance to governmental agencies and a variety of other entities under applicable environmental regulations relating to our landfill operations for capping , closure and post-closure costs , and related to our performance under certain collection , landfill and transfer station contracts . we satisfy these financial assurance requirements by providing surety bonds , letters of credit , insurance policies or trust deposits . the amount of the financial assurance requirements for capping , closure and post-closure costs is determined by applicable state environmental regulations . the financial assurance requirements for capping , closure and post-closure costs may be associated with a portion of the landfill or the entire landfill . generally , states will require a third-party engineering specialist to determine the estimated capping , closure and post- closure costs that are used to determine the required amount of financial assurance for a landfill . the amount of financial assurance required can , and generally will , differ from the obligation determined and recorded under u.s . gaap . the amount of the financial assurance requirements related to contract performance varies by contract . additionally , we are required to provide financial assurance for our insurance program and collateral for certain performance obligations . we do not expect a material increase in financial assurance requirements during 2010 , although the mix of financial assurance instruments may change . these financial instruments are issued in the normal course of business and are not debt of our company . since we currently have no liability for these financial assurance instruments , they are not reflected in our consolidated balance sheets . however , we record capping , closure and post-closure liabilities and self-insurance liabilities as they are incurred . the underlying obligations of the financial assurance instruments , in excess of those already reflected in our consolidated balance sheets , would be recorded if it is probable that we would be unable to fulfill our related obligations . we do not expect this to occur . off-balance sheet arrangements we have no off-balance sheet debt or similar obligations , other than financial assurance instruments and operating leases that are not classified as debt . we do not guarantee any third-party debt . free cash flow we define free cash flow , which is not a measure determined in accordance with u.s . gaap , as cash provided by operating activities less purchases of property and equipment , plus proceeds from sales of property and equipment as presented in our consolidated statements of cash flows . our free cash flow for the years ended december 31 , 2009 , 2008 and 2007 is calculated as follows ( in millions ) : . <table class='wikitable'><tr><td>1</td><td>-</td><td>2009</td><td>2008</td><td>2007</td></tr><tr><td>2</td><td>cash provided by operating activities</td><td>$ 1396.5</td><td>$ 512.2</td><td>$ 661.3</td></tr><tr><td>3</td><td>purchases of property and equipment</td><td>-826.3 ( 826.3 )</td><td>-386.9 ( 386.9 )</td><td>-292.5 ( 292.5 )</td></tr><tr><td>4</td><td>proceeds from sales of property and equipment</td><td>31.8</td><td>8.2</td><td>6.1</td></tr><tr><td>5</td><td>free cash flow</td><td>$ 602.0</td><td>$ 133.5</td><td>$ 374.9</td></tr></table> .\nQuestion: what is the cash provided by operating activities of 2008?\nAnswer: 512.2\nQuestion: and that of 2007?\nAnswer: 661.3\nQuestion: what is the difference between the cash provided by operating activities of 2008 and 2007?\n" }, { "role": "agent", "content": "-149.1" } ]
CONVFINQA8956	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\nliquidity and capital resources we maintained a strong financial position throughout 2018 and as of 30 september 2018 our consolidated balance sheet included cash and cash items of $ 2791.3 . we continue to have consistent access to commercial paper markets , and cash flows from operating and financing activities are expected to meet liquidity needs for the foreseeable future . as of 30 september 2018 , we had $ 995.1 of foreign cash and cash items compared to a total amount of cash and cash items of $ 2791.3 . as a result of the tax act , we currently do not expect that a significant portion of the earnings of our foreign subsidiaries and affiliates will be subject to u.s . income tax upon subsequent repatriation to the united states . depending on the country in which the subsidiaries and affiliates reside , the repatriation of these earnings may be subject to foreign withholding and other taxes . however , since we have significant current investment plans outside the u.s. , it is our intent to permanently reinvest the majority of our foreign cash and cash items that would be subject to additional taxes outside the u.s . refer to note 22 , income taxes , for additional information . our cash flows from operating , investing , and financing activities from continuing operations , as reflected in the consolidated statements of cash flows , are summarized in the following table: . <table class='wikitable'><tr><td>1</td><td>cash provided by ( used for )</td><td>2018</td><td>2017</td><td>2016</td></tr><tr><td>2</td><td>operating activities</td><td>$ 2554.7</td><td>$ 2534.1</td><td>$ 2258.8</td></tr><tr><td>3</td><td>investing activities</td><td>-1649.1 ( 1649.1 )</td><td>-1417.7 ( 1417.7 )</td><td>-864.8 ( 864.8 )</td></tr><tr><td>4</td><td>financing activities</td><td>-1359.8 ( 1359.8 )</td><td>-2040.9 ( 2040.9 )</td><td>-860.2 ( 860.2 )</td></tr></table> operating activities for the year ended 2018 , cash provided by operating activities was $ 2554.7 . income from continuing operations of $ 1455.6 was adjusted for items including depreciation and amortization , deferred income taxes , impacts from the tax act , undistributed earnings of unconsolidated affiliates , share-based compensation , and noncurrent capital lease receivables . other adjustments of $ 131.6 include a $ 54.9 net impact from the remeasurement of intercompany transactions . the related hedging instruments that eliminate the earnings impact are included as a working capital adjustment in other receivables or payables and accrued liabilities . in addition , other adjustments were impacted by cash received from the early termination of a cross currency swap of $ 54.4 , as well as the excess of pension expense over pension contributions of $ 23.5 . the working capital accounts were a use of cash of $ 265.4 , primarily driven by payables and accrued liabilities , inventories , and trade receivables , partially offset by other receivables . the use of cash in payables and accrued liabilities of $ 277.7 includes a decrease in customer advances of $ 145.7 primarily related to sale of equipment activity and $ 67.1 for maturities of forward exchange contracts that hedged foreign currency exposures . the use of cash in inventories primarily resulted from the purchase of helium molecules . in addition , inventories reflect the noncash impact of our change in accounting for u.s . inventories from lifo to fifo . the source of cash from other receivables of $ 123.6 was primarily due to the maturities of forward exchange contracts that hedged foreign currency exposures for the year ended 2017 , cash provided by operating activities was $ 2534.1 . income from continuing operations of $ 1134.4 included a goodwill and intangible asset impairment charge of $ 162.1 , an equity method investment impairment charge of $ 79.5 , and a write-down of long-lived assets associated with restructuring of $ 69.2 . refer to note 5 , cost reduction and asset actions ; note 8 , summarized financial information of equity affiliates ; note 10 , goodwill ; and note 11 , intangible assets , of the consolidated financial statements for additional information on these charges . other adjustments of $ 165.4 included changes in uncertain tax positions and the fair value of foreign exchange contracts that hedge intercompany loans as well as pension contributions and expense . the working capital accounts were a source of cash of $ 48.0 that were primarily driven by payables and accrued liabilities and other receivables , partially offset by other working capital and trade receivables . the increase in payables and accrued liabilities of $ 163.8 was primarily due to timing differences related to payables and accrued liabilities and an increase in customer advances of $ 52.8 primarily related to sale of equipment activity . the source of cash from other receivables of $ 124.7 was primarily due to the maturities of forward exchange contracts that hedged foreign currency exposures . other working capital was a use of cash of $ 154.0 , primarily driven by payments for income taxes . trade receivables was a use of cash of $ 73.6 which is primarily due to timing differences. .\nQuestion: what was the net cash from operating and investing activities in 2016?\n" }, { "role": "agent", "content": "1394.0" } ]
CONVFINQA10390	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\navailable information . the company 2019s annual reports on form 10-k , quarterly reports on form 10-q , current reports on form 8- k , proxy statements and amendments to those reports are available free of charge through the company 2019s internet website at http://www.everestregroup.com as soon as reasonably practicable after such reports are electronically filed with the securities and exchange commission ( the 201csec 201d ) . item 1a . risk factors in addition to the other information provided in this report , the following risk factors should be considered when evaluating an investment in our securities . if the circumstances contemplated by the individual risk factors materialize , our business , financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly . risks relating to our business fluctuations in the financial markets could result in investment losses . prolonged and severe disruptions in the overall public debt and equity markets , such as occurred during 2008 , could result in significant realized and unrealized losses in our investment portfolio . although financial markets have significantly improved since 2008 , they could deteriorate in the future . there could also be disruption in individual market sectors , such as occurred in the energy sector during the fourth quarter of 2014 . such declines in the financial markets could result in significant realized and unrealized losses on investments and could have a material adverse impact on our results of operations , equity , business and insurer financial strength and debt ratings . our results could be adversely affected by catastrophic events . we are exposed to unpredictable catastrophic events , including weather-related and other natural catastrophes , as well as acts of terrorism . any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations . subsequent to april 1 , 2010 , we define a catastrophe as an event that causes a loss on property exposures before reinsurance of at least $ 10.0 million , before corporate level reinsurance and taxes . prior to april 1 , 2010 , we used a threshold of $ 5.0 million . by way of illustration , during the past five calendar years , pre-tax catastrophe losses , net of contract specific reinsurance but before cessions under corporate reinsurance programs , were as follows: . <table class='wikitable'><tr><td>1</td><td>calendar year:</td><td>pre-tax catastrophe losses</td></tr><tr><td>2</td><td>( dollars in millions )</td><td>-</td></tr><tr><td>3</td><td>2014</td><td>$ 62.2</td></tr><tr><td>4</td><td>2013</td><td>195.0</td></tr><tr><td>5</td><td>2012</td><td>410.0</td></tr><tr><td>6</td><td>2011</td><td>1300.4</td></tr><tr><td>7</td><td>2010</td><td>571.1</td></tr></table> our losses from future catastrophic events could exceed our projections . we use projections of possible losses from future catastrophic events of varying types and magnitudes as a strategic underwriting tool . we use these loss projections to estimate our potential catastrophe losses in certain geographic areas and decide on the placement of retrocessional coverage or other actions to limit the extent of potential losses in a given geographic area . these loss projections are approximations , reliant on a mix of quantitative and qualitative processes , and actual losses may exceed the projections by a material amount , resulting in a material adverse effect on our financial condition and results of operations. .\nQuestion: what are the total pre-tax catastrophe losses in 2014?\nAnswer: 62.2\nQuestion: what about 2013?\n" }, { "role": "agent", "content": "195.0" } ]
CONVFINQA7278	[ { "role": "human", "content": "Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.\n\njpmorgan chase & co./2012 annual report 249 note 13 2013 securities financing activities jpmorgan chase enters into resale agreements , repurchase agreements , securities borrowed transactions and securities loaned transactions ( collectively , 201csecurities financing agreements 201d ) primarily to finance the firm 2019s inventory positions , acquire securities to cover short positions , accommodate customers 2019 financing needs , and settle other securities obligations . securities financing agreements are treated as collateralized financings on the firm 2019s consolidated balance sheets . resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased , plus accrued interest . securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received . where appropriate under applicable accounting guidance , resale and repurchase agreements with the same counterparty are reported on a net basis . fees received and paid in connection with securities financing agreements are recorded in interest income and interest expense , respectively . the firm has elected the fair value option for certain securities financing agreements . for further information regarding the fair value option , see note 4 on pages 214 2013 216 of this annual report . the securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements ; securities loaned or sold under repurchase agreements ; and securities borrowed on the consolidated balance sheets . generally , for agreements carried at fair value , current-period interest accruals are recorded within interest income and interest expense , with changes in fair value reported in principal transactions revenue . however , for financial instruments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments , all changes in fair value , including any interest elements , are reported in principal transactions revenue . the following table details the firm 2019s securities financing agreements , all of which are accounted for as collateralized financings during the periods presented . december 31 , ( in millions ) 2012 2011 securities purchased under resale agreements ( a ) $ 295413 $ 235000 securities borrowed ( b ) 119017 142462 securities sold under repurchase agreements ( c ) $ 215560 $ 197789 securities loaned ( d ) 23582 14214 ( a ) at december 31 , 2012 and 2011 , included resale agreements of $ 24.3 billion and $ 22.2 billion , respectively , accounted for at fair value . ( b ) at december 31 , 2012 and 2011 , included securities borrowed of $ 10.2 billion and $ 15.3 billion , respectively , accounted for at fair value . ( c ) at december 31 , 2012 and 2011 , included repurchase agreements of $ 3.9 billion and $ 6.8 billion , respectively , accounted for at fair value . ( d ) at december 31 , 2012 , included securities loaned of $ 457 million accounted for at fair value . there were no securities loaned accounted for at fair value at december 31 , 2011 . the amounts reported in the table above were reduced by $ 96.9 billion and $ 115.7 billion at december 31 , 2012 and 2011 , respectively , as a result of agreements in effect that meet the specified conditions for net presentation under applicable accounting guidance . jpmorgan chase 2019s policy is to take possession , where possible , of securities purchased under resale agreements and of securities borrowed . the firm monitors the value of the underlying securities ( primarily g7 government securities , u.s . agency securities and agency mbs , and equities ) that it has received from its counterparties and either requests additional collateral or returns a portion of the collateral when appropriate in light of the market value of the underlying securities . margin levels are established initially based upon the counterparty and type of collateral and monitored on an ongoing basis to protect against declines in collateral value in the event of default . jpmorgan chase typically enters into master netting agreements and other collateral arrangements with its resale agreement and securities borrowed counterparties , which provide for the right to liquidate the purchased or borrowed securities in the event of a customer default . as a result of the firm 2019s credit risk mitigation practices with respect to resale and securities borrowed agreements as described above , the firm did not hold any reserves for credit impairment with respect to these agreements as of december 31 , 2012 and for further information regarding assets pledged and collateral received in securities financing agreements , see note 30 on pages 315 2013316 of this annual report. . <table class='wikitable'><tr><td>1</td><td>december 31 ( in millions )</td><td>2012</td><td>2011</td></tr><tr><td>2</td><td>securities purchased under resale agreements ( a )</td><td>$ 295413</td><td>$ 235000</td></tr><tr><td>3</td><td>securities borrowed ( b )</td><td>119017</td><td>142462</td></tr><tr><td>4</td><td>securities sold under repurchase agreements ( c )</td><td>$ 215560</td><td>$ 197789</td></tr><tr><td>5</td><td>securities loaned ( d )</td><td>23582</td><td>14214</td></tr></table> jpmorgan chase & co./2012 annual report 249 note 13 2013 securities financing activities jpmorgan chase enters into resale agreements , repurchase agreements , securities borrowed transactions and securities loaned transactions ( collectively , 201csecurities financing agreements 201d ) primarily to finance the firm 2019s inventory positions , acquire securities to cover short positions , accommodate customers 2019 financing needs , and settle other securities obligations . securities financing agreements are treated as collateralized financings on the firm 2019s consolidated balance sheets . resale and repurchase agreements are generally carried at the amounts at which the securities will be subsequently sold or repurchased , plus accrued interest . securities borrowed and securities loaned transactions are generally carried at the amount of cash collateral advanced or received . where appropriate under applicable accounting guidance , resale and repurchase agreements with the same counterparty are reported on a net basis . fees received and paid in connection with securities financing agreements are recorded in interest income and interest expense , respectively . the firm has elected the fair value option for certain securities financing agreements . for further information regarding the fair value option , see note 4 on pages 214 2013 216 of this annual report . the securities financing agreements for which the fair value option has been elected are reported within securities purchased under resale agreements ; securities loaned or sold under repurchase agreements ; and securities borrowed on the consolidated balance sheets . generally , for agreements carried at fair value , current-period interest accruals are recorded within interest income and interest expense , with changes in fair value reported in principal transactions revenue . however , for financial instruments containing embedded derivatives that would be separately accounted for in accordance with accounting guidance for hybrid instruments , all changes in fair value , including any interest elements , are reported in principal transactions revenue . the following table details the firm 2019s securities financing agreements , all of which are accounted for as collateralized financings during the periods presented . december 31 , ( in millions ) 2012 2011 securities purchased under resale agreements ( a ) $ 295413 $ 235000 securities borrowed ( b ) 119017 142462 securities sold under repurchase agreements ( c ) $ 215560 $ 197789 securities loaned ( d ) 23582 14214 ( a ) at december 31 , 2012 and 2011 , included resale agreements of $ 24.3 billion and $ 22.2 billion , respectively , accounted for at fair value . ( b ) at december 31 , 2012 and 2011 , included securities borrowed of $ 10.2 billion and $ 15.3 billion , respectively , accounted for at fair value . ( c ) at december 31 , 2012 and 2011 , included repurchase agreements of $ 3.9 billion and $ 6.8 billion , respectively , accounted for at fair value . ( d ) at december 31 , 2012 , included securities loaned of $ 457 million accounted for at fair value . there were no securities loaned accounted for at fair value at december 31 , 2011 . the amounts reported in the table above were reduced by $ 96.9 billion and $ 115.7 billion at december 31 , 2012 and 2011 , respectively , as a result of agreements in effect that meet the specified conditions for net presentation under applicable accounting guidance . jpmorgan chase 2019s policy is to take possession , where possible , of securities purchased under resale agreements and of securities borrowed . the firm monitors the value of the underlying securities ( primarily g7 government securities , u.s . agency securities and agency mbs , and equities ) that it has received from its counterparties and either requests additional collateral or returns a portion of the collateral when appropriate in light of the market value of the underlying securities . margin levels are established initially based upon the counterparty and type of collateral and monitored on an ongoing basis to protect against declines in collateral value in the event of default . jpmorgan chase typically enters into master netting agreements and other collateral arrangements with its resale agreement and securities borrowed counterparties , which provide for the right to liquidate the purchased or borrowed securities in the event of a customer default . as a result of the firm 2019s credit risk mitigation practices with respect to resale and securities borrowed agreements as described above , the firm did not hold any reserves for credit impairment with respect to these agreements as of december 31 , 2012 and for further information regarding assets pledged and collateral received in securities financing agreements , see note 30 on pages 315 2013316 of this annual report. .\nQuestion: what is the securities borrowed cost basis at december 31, 2012 in millions?\nAnswer: 119017.0\nQuestion: and what is that in billions?\nAnswer: 119.017\nQuestion: what is the securities borrowed at december 31, 2012 in billions?\nAnswer: 10.2\nQuestion: what is the difference between that securities borrowed cost basis and that securities borrowed?\n" }, { "role": "agent", "content": "108.817" } ]

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