instead , companies will be required to account for such transactions using a fair-value method and recognize the related expense associated with share-based payments in the statement of operations .

sfas 123r is effective for us as of january 1 , 2006 .

we have historically accounted for share-based payments to employees under apb no .

as such , we generally have not recognized compensation expense for options granted to employees .

we will adopt the provisions of sfas 123r under the modified prospective method , in which compensation cost for all share-based payments granted or modified after the effective date is recognized based upon the requirements of sfas 123r , and compensation cost for all awards granted to employees prior to the effective date that are unvested as of the effective date of sfas 123r is recognized based on sfas 123 .

tax benefits will be recognized related to the cost for share-based payments to the extent the equity instrument would ordinarily result in a future tax deduction under existing law .

tax expense will be recognized to write off excess deferred tax assets when the tax deduction upon settlement of a vested option is less than the expense recorded in the statement of operations ( to the extent not offset by prior tax credits for settlements where the tax deduction was greater than the fair value cost ) .

we estimate that we will recognize equity-based compensation expense of approximately $ 35 million to $ 38 million for the year ending december 31 , 2006 .

this amount is subject to revisions as we finalize certain assumptions related to 2006 , including the size and nature of awards and forfeiture rates .

sfas 123r also requires the benefits of tax deductions in excess of recognized compensation cost be reported as a financing cash flow rather than as operating cash flow as was previously required .

we cannot estimate what the future tax benefits will be as the amounts depend on , among other factors , future employee stock option exercises .

due to the our tax loss position , there was no operating cash inflow realized for december 31 , 2005 and 2004 for such excess tax deductions .

in march 2005 , the sec issued staff accounting bulletin ( sab ) no .

107 regarding the staff 2019s interpretation of sfas 123r .

this interpretation provides the staff 2019s views regarding interactions between sfas 123r and certain sec rules and regulations and provides interpretations of the valuation of share-based payments for public companies .

the interpretive guidance is intended to assist companies in applying the provisions of sfas 123r and investors and users of the financial statements in analyzing the information provided .

we will follow the guidance prescribed in sab no .

107 in connection with our adoption of sfas 123r .

information presented pursuant to the indentures of our 7.50% ( 7.50 % ) notes , 7.125% ( 7.125 % ) notes and ati 7.25% ( 7.25 % ) the following table sets forth information that is presented solely to address certain tower cash flow reporting requirements contained in the indentures for our 7.50% ( 7.50 % ) notes , 7.125% ( 7.125 % ) notes and ati 7.25% ( 7.25 % ) notes .

the information contained in note 19 to our consolidated financial statements is also presented to address certain reporting requirements contained in the indenture for our ati 7.25% ( 7.25 % ) notes .

the following table presents tower cash flow , adjusted consolidated cash flow and non-tower cash flow for the company and its restricted subsidiaries , as defined in the indentures for the applicable notes ( in thousands ) : .

what is the value of non-tower cash flow for the twelve months ended december 31 2005?

Question: what is that expressed as a positive number?

Answer: -30584.0


instead , companies will be required to account for such transactions using a fair-value method and recognize the related expense associated with share-based payments in the statement of operations .

sfas 123r is effective for us as of january 1 , 2006 .

we have historically accounted for share-based payments to employees under apb no .

as such , we generally have not recognized compensation expense for options granted to employees .

we will adopt the provisions of sfas 123r under the modified prospective method , in which compensation cost for all share-based payments granted or modified after the effective date is recognized based upon the requirements of sfas 123r , and compensation cost for all awards granted to employees prior to the effective date that are unvested as of the effective date of sfas 123r is recognized based on sfas 123 .

tax benefits will be recognized related to the cost for share-based payments to the extent the equity instrument would ordinarily result in a future tax deduction under existing law .

tax expense will be recognized to write off excess deferred tax assets when the tax deduction upon settlement of a vested option is less than the expense recorded in the statement of operations ( to the extent not offset by prior tax credits for settlements where the tax deduction was greater than the fair value cost ) .

we estimate that we will recognize equity-based compensation expense of approximately $ 35 million to $ 38 million for the year ending december 31 , 2006 .

this amount is subject to revisions as we finalize certain assumptions related to 2006 , including the size and nature of awards and forfeiture rates .

sfas 123r also requires the benefits of tax deductions in excess of recognized compensation cost be reported as a financing cash flow rather than as operating cash flow as was previously required .

we cannot estimate what the future tax benefits will be as the amounts depend on , among other factors , future employee stock option exercises .

due to the our tax loss position , there was no operating cash inflow realized for december 31 , 2005 and 2004 for such excess tax deductions .

in march 2005 , the sec issued staff accounting bulletin ( sab ) no .

107 regarding the staff 2019s interpretation of sfas 123r .

this interpretation provides the staff 2019s views regarding interactions between sfas 123r and certain sec rules and regulations and provides interpretations of the valuation of share-based payments for public companies .

the interpretive guidance is intended to assist companies in applying the provisions of sfas 123r and investors and users of the financial statements in analyzing the information provided .

we will follow the guidance prescribed in sab no .

107 in connection with our adoption of sfas 123r .

information presented pursuant to the indentures of our 7.50% ( 7.50 % ) notes , 7.125% ( 7.125 % ) notes and ati 7.25% ( 7.25 % ) the following table sets forth information that is presented solely to address certain tower cash flow reporting requirements contained in the indentures for our 7.50% ( 7.50 % ) notes , 7.125% ( 7.125 % ) notes and ati 7.25% ( 7.25 % ) notes .

the information contained in note 19 to our consolidated financial statements is also presented to address certain reporting requirements contained in the indenture for our ati 7.25% ( 7.25 % ) notes .

the following table presents tower cash flow , adjusted consolidated cash flow and non-tower cash flow for the company and its restricted subsidiaries , as defined in the indentures for the applicable notes ( in thousands ) : .

1	tower cash flow for the three months ended december 31 2005	$ 139590

2	consolidated cash flow for the twelve months ended december 31 2005	$ 498266

3	less : tower cash flow for the twelve months ended december 31 2005	-524804 ( 524804 )

4	plus : four times tower cash flow for the three months ended december 31 2005	558360

5	adjusted consolidated cash flow for the twelve months ended december 31 2005	$ 531822

6	non-tower cash flow for the twelve months ended december 31 2005	$ -30584 ( 30584 )

what is that expressed as a positive number?

Question: what is that divided by the adjusted consolidated cash flow for the twelve months ended december 31 2005?

Answer: -0.05751


equity compensation plan information the following table presents the equity securities available for issuance under our equity compensation plans as of december 31 , 2017 .

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 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 448859 $ 0.00 4087587 equity compensation plans not approved by security holders ( 2 ) 2014 2014 2014 .

( 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 , 27123 were stock rights granted under the 2011 plan .

in addition , this number includes 28763 stock rights , 3075 restricted stock rights , and 389898 restricted performance stock rights granted under the 2012 plan , assuming target performance achievement .

( 2 ) there are no awards made under plans not approved by security holders .

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 2018 annual meeting of stockholders , to be filed within 120 days after the end of the company 2019s fiscal year .

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 2018 annual meeting of stockholders , to be filed within 120 days after the end of the company 2019s fiscal year. .

1	plan category	number of securities to be issued upon exercise of outstanding options warrants and rights ( 1 ) ( a ) ( b )	weighted-average exercise price of outstanding optionswarrants and rights	number of securities remaining available for future issuance under equity compensation plans ( excluding securitiesreflected in column ( a ) ) ( c )

2	equity compensation plans approved by security holders	448859	$ 0.00	4087587

3	equity compensation plans not approved by security holders ( 2 )	2014	2014	2014

4	total	448859	$ 0.00	4087587

Question: what is the total number of securities approved by security holders?

Answer: 4536446.0


what is the total number of securities approved by security holders?

Question: what about the number of securities to be issued upon exercise of outstanding options warrants and rights?

Answer: 448859.0


what about the number of securities to be issued upon exercise of outstanding options warrants and rights?

Question: what proportion does this represent?

Answer: 0.09895


at december 31 , 2012 , total future minimum commitments under existing non-cancelable operat- ing leases and purchase obligations were as follows: .

( a ) includes $ 3.6 billion relating to fiber supply agreements entered into at the time of the company 2019s 2006 transformation plan forestland sales and in conjunction with the 2008 acquis- ition of weyerhaeuser company 2019s containerboard , packaging and recycling business .

rent expense was $ 231 million , $ 205 million and $ 210 million for 2012 , 2011 and 2010 , respectively .

guarantees in connection with sales of businesses , property , equipment , forestlands and other assets , interna- tional paper commonly makes representations and warranties relating to such businesses or assets , and may agree to indemnify buyers with respect to tax and environmental liabilities , breaches of representations and warranties , and other matters .

where liabilities for such matters are determined to be probable and subject to reasonable estimation , accrued liabilities are recorded at the time of sale as a cost of the transaction .

environmental proceedings international paper has been named as a potentially responsible party in environmental remediation actions under various federal and state laws , includ- ing the comprehensive environmental response , compensation and liability act ( cercla ) .

many of these proceedings involve the cleanup of hazardous substances at large commercial landfills that received waste from many different sources .

while joint and several liability is authorized under cercla and equivalent state laws , as a practical matter , liability for cercla cleanups is typically allocated among the many potential responsible parties .

remedial costs are recorded in the consolidated financial statements when they become probable and reasonably estimable .

international paper has estimated the probable liability associated with these matters to be approximately $ 92 million in the aggregate at december 31 , 2012 .

one of the matters referenced above is a closed wood treating facility located in cass lake , minneso- ta .

during 2009 , in connection with an environmental site remediation action under cercla , international paper submitted to the epa a site remediation feasi- bility study .

in june 2011 , the epa selected and published a proposed soil remedy at the site with an estimated cost of $ 46 million .

the overall remediation reserve for the site is currently $ 48 mil- lion to address this selection of an alternative for the soil remediation component of the overall site remedy .

in october 2011 , the epa released a public statement indicating that the final soil remedy deci- sion would be delayed .

in the unlikely event that the epa changes its proposed soil remedy and approves instead a more expensive clean-up alternative , the remediation costs could be material , and sig- nificantly higher than amounts currently recorded .

in october 2012 , the natural resource trustees for this site provided notice to international paper and other potentially responsible parties of their intent to per- form a natural resource damage assessment .

it is premature to predict the outcome of the assessment or to estimate a loss or range of loss , if any , which may be incurred .

in addition to the above matters , other remediation costs typically associated with the cleanup of hazardous substances at the company 2019s current , closed or formerly-owned facilities , and recorded as liabilities in the balance sheet , totaled approximately $ 46 million at december 31 , 2012 .

other than as described above , completion of required remedial actions is not expected to have a material effect on our consolidated financial statements .

the company is a potentially responsible party with respect to the allied paper , inc./portage creek/ kalamazoo river superfund site ( kalamazoo river superfund site ) in michigan .

the epa asserts that the site is contaminated primarily by pcbs as a result of discharges from various paper mills located along the river , including a paper mill formerly owned by st .

the company is a successor in interest to st .

international paper has not received any orders from the epa with respect to the site and is in the process of collecting information from the epa and other parties relative to the kalamazoo river superfund site to evaluate the extent of its liability , if any , with respect to the site .

accordingly , it is pre- mature to estimate a loss or range of loss with respect to this site .

also in connection with the kalamazoo river superfund site , the company was named as a defendant by georgia-pacific consumer products lp , fort james corporation and georgia pacific llc in a contribution and cost recovery action for alleged pollution at the kalamazoo river super- fund site .

the suit seeks contribution under cercla for $ 79 million in costs purportedly expended by plaintiffs as of the filing of the com- plaint , and for future remediation costs .

the suit alleges that a mill , during the time it was allegedly owned and operated by st .

regis , discharged pcb contaminated solids and paper residuals resulting from paper de-inking and recycling .

also named as defendants in the suit are ncr corporation and weyerhaeuser company .

Question: between the years of 2011 and 2012, what was the change in rent expenses?

Answer: 26.0


( a ) includes $ 3.6 billion relating to fiber supply agreements entered into at the time of the company 2019s 2006 transformation plan forestland sales and in conjunction with the 2008 acquis- ition of weyerhaeuser company 2019s containerboard , packaging and recycling business .

rent expense was $ 231 million , $ 205 million and $ 210 million for 2012 , 2011 and 2010 , respectively .

guarantees in connection with sales of businesses , property , equipment , forestlands and other assets , interna- tional paper commonly makes representations and warranties relating to such businesses or assets , and may agree to indemnify buyers with respect to tax and environmental liabilities , breaches of representations and warranties , and other matters .

where liabilities for such matters are determined to be probable and subject to reasonable estimation , accrued liabilities are recorded at the time of sale as a cost of the transaction .

environmental proceedings international paper has been named as a potentially responsible party in environmental remediation actions under various federal and state laws , includ- ing the comprehensive environmental response , compensation and liability act ( cercla ) .

many of these proceedings involve the cleanup of hazardous substances at large commercial landfills that received waste from many different sources .

while joint and several liability is authorized under cercla and equivalent state laws , as a practical matter , liability for cercla cleanups is typically allocated among the many potential responsible parties .

remedial costs are recorded in the consolidated financial statements when they become probable and reasonably estimable .

international paper has estimated the probable liability associated with these matters to be approximately $ 92 million in the aggregate at december 31 , 2012 .

one of the matters referenced above is a closed wood treating facility located in cass lake , minneso- ta .

during 2009 , in connection with an environmental site remediation action under cercla , international paper submitted to the epa a site remediation feasi- bility study .

in june 2011 , the epa selected and published a proposed soil remedy at the site with an estimated cost of $ 46 million .

the overall remediation reserve for the site is currently $ 48 mil- lion to address this selection of an alternative for the soil remediation component of the overall site remedy .

in october 2011 , the epa released a public statement indicating that the final soil remedy deci- sion would be delayed .

in the unlikely event that the epa changes its proposed soil remedy and approves instead a more expensive clean-up alternative , the remediation costs could be material , and sig- nificantly higher than amounts currently recorded .

in october 2012 , the natural resource trustees for this site provided notice to international paper and other potentially responsible parties of their intent to per- form a natural resource damage assessment .

it is premature to predict the outcome of the assessment or to estimate a loss or range of loss , if any , which may be incurred .

in addition to the above matters , other remediation costs typically associated with the cleanup of hazardous substances at the company 2019s current , closed or formerly-owned facilities , and recorded as liabilities in the balance sheet , totaled approximately $ 46 million at december 31 , 2012 .

other than as described above , completion of required remedial actions is not expected to have a material effect on our consolidated financial statements .

the company is a potentially responsible party with respect to the allied paper , inc./portage creek/ kalamazoo river superfund site ( kalamazoo river superfund site ) in michigan .

the epa asserts that the site is contaminated primarily by pcbs as a result of discharges from various paper mills located along the river , including a paper mill formerly owned by st .

the company is a successor in interest to st .

international paper has not received any orders from the epa with respect to the site and is in the process of collecting information from the epa and other parties relative to the kalamazoo river superfund site to evaluate the extent of its liability , if any , with respect to the site .

accordingly , it is pre- mature to estimate a loss or range of loss with respect to this site .

also in connection with the kalamazoo river superfund site , the company was named as a defendant by georgia-pacific consumer products lp , fort james corporation and georgia pacific llc in a contribution and cost recovery action for alleged pollution at the kalamazoo river super- fund site .

the suit seeks contribution under cercla for $ 79 million in costs purportedly expended by plaintiffs as of the filing of the com- plaint , and for future remediation costs .

the suit alleges that a mill , during the time it was allegedly owned and operated by st .

regis , discharged pcb contaminated solids and paper residuals resulting from paper de-inking and recycling .

also named as defendants in the suit are ncr corporation and weyerhaeuser company .

between the years of 2011 and 2012, what was the change in rent expenses?

Question: and what was this change between 2010 and 2011?

Answer: -5.0


54| | duke realty corporation annual report 2009 net income ( loss ) per common share basic net income ( loss ) per common share is computed by dividing net income ( loss ) attributable to common shareholders , less dividends on share-based awards expected to vest , by the weighted average number of common shares outstanding for the period .

diluted net income ( loss ) per common share is computed by dividing the sum of basic net income ( loss ) attributable to common shareholders and the noncontrolling interest in earnings allocable to units not owned by us ( to the extent the units are dilutive ) , by the sum of the weighted average number of common shares outstanding and , to the extent they are dilutive , limited partnership units outstanding , as well as any potential dilutive securities for the period .

during the first quarter of 2009 , we adopted a new accounting standard ( fasb asc 260-10 ) on participating securities , which we have applied retrospectively to prior period calculations of basic and diluted earnings per common share .

pursuant to this new standard , certain of our share-based awards are considered participating securities because they earn dividend equivalents that are not forfeited even if the underlying award does not vest .

the following table reconciles the components of basic and diluted net income ( loss ) per common share ( in thousands ) : .

weighted average number of common shares and potential diluted securities 201206 154553 149250 ( 1 ) the partnership units are anti-dilutive for the year ended december 31 , 2009 , as a result of the net loss for that period .

therefore , 6687 units ( in thousands ) are excluded from the weighted average number of common shares and potential dilutive securities for the year ended december 31 , 2009 and $ 11099 noncontrolling interest in earnings of common unitholders ( in thousands ) is excluded from diluted net loss attributable to common shareholders for the year ended december 31 , 2009 .

( 2 ) excludes ( in thousands of shares ) 7872 ; 8219 and 1144 of anti-dilutive shares for the years ended december 31 , 2009 , 2008 and 2007 , respectively related to stock-based compensation plans .

also excludes ( in thousands of shares ) the exchangeable notes that have 8089 ; 11771 and 11751 of anti-dilutive shares for the years ended december 31 , 2009 , 2008 and 2007 , respectively .

federal income taxes we have elected to be taxed as a real estate investment trust ( 201creit 201d ) under the internal revenue code of 1986 , as amended .

to qualify as a reit , we must meet a number of organizational and operational requirements , including a requirement to distribute at least 90% ( 90 % ) of our adjusted taxable income to our stockholders .

management intends to continue to adhere to these requirements and to maintain our reit status .

as a reit , we are entitled to a tax deduction for some or all of the dividends we pay to shareholders .

accordingly , we generally will not be subject to federal income taxes as long as we distribute an amount equal to or in excess of our taxable income currently to shareholders .

we are also generally subject to federal income taxes on any taxable income that is not currently distributed to our shareholders .

if we fail to qualify as a reit in any taxable year , we will be subject to federal income taxes and may not be able to qualify as a reit for four subsequent taxable years .

reit qualification reduces , but does not eliminate , the amount of state and local taxes we pay .

in addition , our financial statements include the operations of taxable corporate subsidiaries that are not entitled to a dividends paid deduction and are subject to corporate federal , state and local income taxes .

as a reit , we may also be subject to certain federal excise taxes if we engage in certain types of transactions. .

1		2009	2008	2007

2	net income ( loss ) attributable to common shareholders	$ -333601 ( 333601 )	$ 50408	$ 211942

3	less : dividends on share-based awards expected to vest	-1759 ( 1759 )	-1631 ( 1631 )	-1149 ( 1149 )

4	basic net income ( loss ) attributable to common shareholders	-335360 ( 335360 )	48777	210793

5	noncontrolling interest in earnings of common unitholders ( 1 )	-	2640	13998

6	diluted net income ( loss ) attributable to common shareholders	$ -335360 ( 335360 )	$ 51417	$ 224791

7	weighted average number of common shares outstanding	201206	146915	139255

8	weighted average partnership units outstanding	-	7619	9204

9	other potential dilutive shares ( 2 )	-	19	791

10	weighted average number of common shares and potential dilutive securities	201206	154553	149250

Question: what was the net income ( loss ) attributable to common shareholders in 2008?

Answer: 50408.0


what was the net income ( loss ) attributable to common shareholders in 2008?

Question: and what was it in 2007?

Answer: 211942.0


Question: what was, then, the change over the year?

Answer: -161534.0


what was, then, the change over the year?

Question: what was the net income ( loss ) attributable to common shareholders in 2007?

Answer: 211942.0


what was the net income ( loss ) attributable to common shareholders in 2007?

Question: and how much does that change represent in relation to this 2007 amount, in percentage?

Answer: -0.76216


entergy corporation notes to consolidated financial statements ( d ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on october 1 , 2003 and will then be remarketed .

( e ) on june 1 , 2002 , entergy louisiana remarketed $ 55 million st .

charles parish pollution control revenue refunding bonds due 2030 , resetting the interest rate to 4.9% ( 4.9 % ) through may 2005 .

( f ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on june 1 , 2005 and will then be remarketed .

( g ) the fair value excludes lease obligations , long-term doe obligations , and other long-term debt and includes debt due within one year .

it is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms .

the annual long-term debt maturities ( excluding lease obligations ) and annual cash sinking fund requirements for debt outstanding as of december 31 , 2002 , for the next five years are as follows ( in thousands ) : .

not included are other sinking fund requirements of approximately $ 30.2 million annually , which may be satisfied by cash or by certification of property additions at the rate of 167% ( 167 % ) of such requirements .

in december 2002 , when the damhead creek project was sold , the buyer of the project assumed all obligations under the damhead creek credit facilities and the damhead creek interest rate swap agreements .

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 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 .

covenants in the entergy corporation 7.75% ( 7.75 % ) 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 credit facilities or are in bankruptcy or insolvency proceedings , an acceleration of the facility's maturity may occur .

in january 2003 , entergy paid in full , at maturity , the outstanding debt relating to the top of iowa wind project .

capital funds agreement pursuant to an agreement with certain creditors , entergy corporation has agreed to supply system energy with sufficient capital to : fffd maintain system energy's equity capital at a minimum of 35% ( 35 % ) of its total capitalization ( excluding short-term debt ) ; fffd permit the continued commercial operation of grand gulf 1 ; fffd pay in full all system energy indebtedness for borrowed money when due ; and fffd enable system energy to make payments on specific system energy debt , under supplements to the agreement assigning system energy's rights in the agreement as security for the specific debt. .

Question: what is the value of other sinking fund requirements times 1000?

Answer: 30200.0


what is the value of other sinking fund requirements times 1000?

Question: what is that divided by the annual long-term debt maturities ( excluding lease obligations ) and annual cash sinking fund requirements for debt outstanding in 2007?

Answer: 0.06354


notes to consolidated financial statements 2014 ( continued ) in connection with these discover related purchases , we have sold the contractual rights to future commissions on discover transactions to certain of our isos .

contractual rights sold totaled $ 7.6 million during the year ended may 31 , 2008 and $ 1.0 million during fiscal 2009 .

such sale proceeds are generally collected in installments over periods ranging from three to nine months .

during fiscal 2009 , we collected $ 4.4 million of such proceeds , which are included in the proceeds from sale of investment and contractual rights in our consolidated statement of cash flows .

we do not recognize gains on these sales of contractual rights at the time of sale .

proceeds are deferred and recognized as a reduction of the related commission expense .

during fiscal 2009 , we recognized $ 1.2 million of such deferred sales proceeds as other long-term liabilities .

other 2008 acquisitions during fiscal 2008 , we acquired a majority of the assets of euroenvios money transfer , s.a .

and euroenvios conecta , s.l. , which we collectively refer to as lfs spain .

lfs spain consisted of two privately- held corporations engaged in money transmittal and ancillary services from spain to settlement locations primarily in latin america .

the purpose of the acquisition was to further our strategy of expanding our customer base and market share by opening additional branch locations .

during fiscal 2008 , we acquired a series of money transfer branch locations in the united states .

the purpose of these acquisitions was to increase the market presence of our dolex-branded money transfer offering .

the following table summarizes the preliminary purchase price allocations of all these fiscal 2008 business acquisitions ( in thousands ) : .

the customer-related intangible assets have amortization periods of up to 14 years .

the contract-based intangible assets have amortization periods of 3 to 10 years .

these business acquisitions were not significant to our consolidated financial statements and accordingly , we have not provided pro forma information relating to these acquisitions .

in addition , during fiscal 2008 , we acquired a customer list and long-term merchant referral agreement in our canadian merchant services channel for $ 1.7 million .

the value assigned to the customer list of $ 0.1 million was expensed immediately .

the remaining value was assigned to the merchant referral agreement and is being amortized on a straight-line basis over its useful life of 10 years .

fiscal 2007 on july 24 , 2006 , we completed the purchase of a fifty-six percent ownership interest in the asia-pacific merchant acquiring business of the hongkong and shanghai banking corporation limited , or hsbc asia pacific .

this business provides card payment processing services to merchants in the asia-pacific region .

1		total

2	goodwill	$ 13536

3	customer-related intangible assets	4091

4	contract-based intangible assets	1031

5	property and equipment	267

6	other current assets	502

7	total assets acquired	19427

8	current liabilities	-2347 ( 2347 )

9	minority interest in equity of subsidiary ( at historical cost )	-486 ( 486 )

10	net assets acquired	$ 16594

Question: in the year of 2008, what were the preliminary purchase price allocations related to contract-based intangible assets, in thousands?

Answer: 1031.0


in the year of 2008, what were the preliminary purchase price allocations related to contract-based intangible assets, in thousands?

Question: and considering its amortization period, what was their average annual amortization expense?

Answer: 103.1


and considering its amortization period, what was their average annual amortization expense?

Question: and concerning the total assets in that same acquisition, what amount of them was due to goodwill?

Answer: 13536.0


and concerning the total assets in that same acquisition, what amount of them was due to goodwill?

Question: what percentage, then, did the goodwill represent in relation to them?

Answer: 0.69676


the following performance graph shows the cumulative total return to a holder of the company 2019s common stock , assuming dividend reinvestment , compared with the cumulative total return , assuming dividend reinvestment , of the standard & poor ( "s&p" ) 500 index and the dow jones us financials index during the period from december 31 , 2009 through december 31 , 2014. .

Question: what is the price of e*trade financial corporation in 2014 less an initial 100?

Answer: 37.81


what is the price of e*trade financial corporation in 2014 less an initial 100?

Question: what is that divided by 100?

Answer: 0.3781


Question: what is the price of the s&p 500 index in 2014 less and initial 100?

Answer: 105.14


what is the price of the s&p 500 index in 2014 less and initial 100?

Question: what is that divided by 100?

Answer: 1.0514


Question: what is the difference of the e*trade percent change and the s&p percent change?

Answer: -0.6733


accumulated other comprehensive losses : pmi's accumulated other comprehensive losses , net of taxes , consisted of the following: .

reclassifications from other comprehensive earnings the movements in accumulated other comprehensive losses and the related tax impact , for each of the components above , that are due to current period activity and reclassifications to the income statement are shown on the consolidated statements of comprehensive earnings for the years ended december 31 , 2015 , 2014 , and 2013 .

the movement in currency translation adjustments for the year ended december 31 , 2013 , was also impacted by the purchase of the remaining shares of the mexican tobacco business .

in addition , $ 1 million , $ 5 million and $ 12 million of net currency translation adjustment gains were transferred from other comprehensive earnings to marketing , administration and research costs in the consolidated statements of earnings for the years ended december 31 , 2015 , 2014 and 2013 , respectively , upon liquidation of subsidiaries .

for additional information , see note 13 .

financial instruments for disclosures related to pmi's pension and other benefits and derivative financial instruments .

colombian investment and cooperation agreement : on june 19 , 2009 , pmi announced that it had signed an agreement with the republic of colombia , together with the departments of colombia and the capital district of bogota , to promote investment and cooperation with respect to the colombian tobacco market and to fight counterfeit and contraband tobacco products .

the investment and cooperation agreement provides $ 200 million in funding to the colombian governments over a 20-year period to address issues of mutual interest , such as combating the illegal cigarette trade , including the threat of counterfeit tobacco products , and increasing the quality and quantity of locally grown tobacco .

as a result of the investment and cooperation agreement , pmi recorded a pre-tax charge of $ 135 million in the operating results of the latin america & canada segment during the second quarter of 2009 .

at december 31 , 2015 and 2014 , pmi had $ 73 million and $ 71 million , respectively , of discounted liabilities associated with the colombian investment and cooperation agreement .

these discounted liabilities are primarily reflected in other long-term liabilities on the consolidated balance sheets and are expected to be paid through 2028 .

rbh legal settlement : on july 31 , 2008 , rothmans inc .

( "rothmans" ) announced the finalization of a cad 550 million settlement ( or approximately $ 540 million , based on the prevailing exchange rate at that time ) between itself and rothmans , benson & hedges inc .

( "rbh" ) , on the one hand , and the government of canada and all 10 provinces , on the other hand .

the settlement resolved the royal canadian mounted police's investigation relating to products exported from canada by rbh during the 1989-1996 period .

rothmans' sole holding was a 60% ( 60 % ) interest in rbh .

the remaining 40% ( 40 % ) interest in rbh was owned by pmi. .

1	( losses ) earnings ( in millions )	( losses ) earnings 2015	( losses ) earnings 2014	2013

2	currency translation adjustments	$ -6129 ( 6129 )	$ -3929 ( 3929 )	$ -2207 ( 2207 )

3	pension and other benefits	-3332 ( 3332 )	-3020 ( 3020 )	-2046 ( 2046 )

4	derivatives accounted for as hedges	59	123	63

5	total accumulated other comprehensive losses	$ -9402 ( 9402 )	$ -6826 ( 6826 )	$ -4190 ( 4190 )

Question: what is the value of total accumulated other comprehensive losses in 2014?

Answer: 9402.0


what is the value of total accumulated other comprehensive losses in 2014?

Question: what is the value in 2015?

Answer: 6826.0


Question: what is the net difference?

Answer: 2576.0


Question: what is the 2015 value?

Answer: 6826.0


Question: what is the percent change?

Answer: 0.37738


n o t e s t o t h e 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 2013 ( continued ) ace limited and subsidiaries excluded from adjusted weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective years .

for the years ended december 31 , 2010 , 2009 , and 2008 , the potential anti-dilutive share conversions were 256868 shares , 1230881 shares , and 638401 shares , respectively .

related party transactions the ace foundation 2013 bermuda is an unconsolidated not-for-profit organization whose primary purpose is to fund charitable causes in bermuda .

the trustees are principally comprised of ace management .

the company maintains a non-interest bear- ing demand note receivable from the ace foundation 2013 bermuda , the balance of which was $ 30 million and $ 31 million , at december 31 , 2010 and 2009 , respectively .

the receivable is included in other assets in the accompanying consolidated balance sheets .

the borrower has used the related proceeds to finance investments in bermuda real estate , some of which have been rented to ace employees at rates established by independent , professional real estate appraisers .

the borrower uses income from the investments to both repay the note and to fund charitable activities .

accordingly , the company reports the demand note at the lower of its principal value or the fair value of assets held by the borrower to repay the loan , including the real estate properties .

statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate .

these regulations include restrictions that limit the amount of dividends or other distributions , such as loans or cash advances , available to shareholders without prior approval of the insurance regulatory authorities .

there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries .

subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators .

statutory accounting differs from gaap in the reporting of certain reinsurance contracts , investments , subsidiaries , acquis- ition expenses , fixed assets , deferred income taxes , and certain other items .

the statutory capital and surplus of the u.s .

subsidiaries met regulatory requirements for 2010 , 2009 , and 2008 .

the amount of dividends available to be paid in 2011 , without prior approval from the state insurance departments , totals $ 850 million .

the following table presents the combined statutory capital and surplus and statutory net income of the bermuda and u.s .

subsidiaries at and for the years ended december 31 , 2010 , 2009 , and 2008. .

as permitted by the restructuring discussed previously in note 7 , certain of the company 2019s u.s .

subsidiaries discount certain a&e liabilities , which increased statutory capital and surplus by approximately $ 206 million , $ 215 million , and $ 211 million at december 31 , 2010 , 2009 , and 2008 , respectively .

the company 2019s international subsidiaries prepare statutory financial statements based on local laws and regulations .

some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements .

in some countries , the company must obtain licenses issued by governmental authorities to conduct local insurance business .

these licenses may be subject to reserves and minimum capital and solvency tests .

jurisdictions may impose fines , censure , and/or criminal sanctions for violation of regulatory requirements. .

1	( in millions of u.s . dollars )	bermuda subsidiaries 2010	bermuda subsidiaries 2009	bermuda subsidiaries 2008	bermuda subsidiaries 2010	bermuda subsidiaries 2009	2008

2	statutory capital and surplus	$ 11798	$ 9164	$ 6205	$ 6266	$ 5885	$ 5368

3	statutory net income	$ 2430	$ 2369	$ 2196	$ 1047	$ 904	$ 818

Question: what is the statutory net income bermuda subsidiaries in 2010?

Answer: 2430.0


n o t e s t o t h e 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 2013 ( continued ) ace limited and subsidiaries excluded from adjusted weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective years .

for the years ended december 31 , 2010 , 2009 , and 2008 , the potential anti-dilutive share conversions were 256868 shares , 1230881 shares , and 638401 shares , respectively .

related party transactions the ace foundation 2013 bermuda is an unconsolidated not-for-profit organization whose primary purpose is to fund charitable causes in bermuda .

the trustees are principally comprised of ace management .

the company maintains a non-interest bear- ing demand note receivable from the ace foundation 2013 bermuda , the balance of which was $ 30 million and $ 31 million , at december 31 , 2010 and 2009 , respectively .

the receivable is included in other assets in the accompanying consolidated balance sheets .

the borrower has used the related proceeds to finance investments in bermuda real estate , some of which have been rented to ace employees at rates established by independent , professional real estate appraisers .

the borrower uses income from the investments to both repay the note and to fund charitable activities .

accordingly , the company reports the demand note at the lower of its principal value or the fair value of assets held by the borrower to repay the loan , including the real estate properties .

statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate .

these regulations include restrictions that limit the amount of dividends or other distributions , such as loans or cash advances , available to shareholders without prior approval of the insurance regulatory authorities .

there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries .

subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators .

statutory accounting differs from gaap in the reporting of certain reinsurance contracts , investments , subsidiaries , acquis- ition expenses , fixed assets , deferred income taxes , and certain other items .

the statutory capital and surplus of the u.s .

subsidiaries met regulatory requirements for 2010 , 2009 , and 2008 .

the amount of dividends available to be paid in 2011 , without prior approval from the state insurance departments , totals $ 850 million .

the following table presents the combined statutory capital and surplus and statutory net income of the bermuda and u.s .

subsidiaries at and for the years ended december 31 , 2010 , 2009 , and 2008. .

what is the statutory net income bermuda subsidiaries in 2010?

Question: what about 2009?

Answer: 2369.0


n o t e s t o t h e 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 2013 ( continued ) ace limited and subsidiaries excluded from adjusted weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective years .

for the years ended december 31 , 2010 , 2009 , and 2008 , the potential anti-dilutive share conversions were 256868 shares , 1230881 shares , and 638401 shares , respectively .

related party transactions the ace foundation 2013 bermuda is an unconsolidated not-for-profit organization whose primary purpose is to fund charitable causes in bermuda .

the trustees are principally comprised of ace management .

the company maintains a non-interest bear- ing demand note receivable from the ace foundation 2013 bermuda , the balance of which was $ 30 million and $ 31 million , at december 31 , 2010 and 2009 , respectively .

the receivable is included in other assets in the accompanying consolidated balance sheets .

the borrower has used the related proceeds to finance investments in bermuda real estate , some of which have been rented to ace employees at rates established by independent , professional real estate appraisers .

the borrower uses income from the investments to both repay the note and to fund charitable activities .

accordingly , the company reports the demand note at the lower of its principal value or the fair value of assets held by the borrower to repay the loan , including the real estate properties .

statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate .

these regulations include restrictions that limit the amount of dividends or other distributions , such as loans or cash advances , available to shareholders without prior approval of the insurance regulatory authorities .

there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries .

subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators .

statutory accounting differs from gaap in the reporting of certain reinsurance contracts , investments , subsidiaries , acquis- ition expenses , fixed assets , deferred income taxes , and certain other items .

the statutory capital and surplus of the u.s .

subsidiaries met regulatory requirements for 2010 , 2009 , and 2008 .

the amount of dividends available to be paid in 2011 , without prior approval from the state insurance departments , totals $ 850 million .

the following table presents the combined statutory capital and surplus and statutory net income of the bermuda and u.s .

subsidiaries at and for the years ended december 31 , 2010 , 2009 , and 2008. .

Question: what is the net change?

Answer: 61.0


n o t e s t o t h e 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 2013 ( continued ) ace limited and subsidiaries excluded from adjusted weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective years .

for the years ended december 31 , 2010 , 2009 , and 2008 , the potential anti-dilutive share conversions were 256868 shares , 1230881 shares , and 638401 shares , respectively .

related party transactions the ace foundation 2013 bermuda is an unconsolidated not-for-profit organization whose primary purpose is to fund charitable causes in bermuda .

the trustees are principally comprised of ace management .

the company maintains a non-interest bear- ing demand note receivable from the ace foundation 2013 bermuda , the balance of which was $ 30 million and $ 31 million , at december 31 , 2010 and 2009 , respectively .

the receivable is included in other assets in the accompanying consolidated balance sheets .

the borrower has used the related proceeds to finance investments in bermuda real estate , some of which have been rented to ace employees at rates established by independent , professional real estate appraisers .

the borrower uses income from the investments to both repay the note and to fund charitable activities .

accordingly , the company reports the demand note at the lower of its principal value or the fair value of assets held by the borrower to repay the loan , including the real estate properties .

statutory financial information the company 2019s insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate .

these regulations include restrictions that limit the amount of dividends or other distributions , such as loans or cash advances , available to shareholders without prior approval of the insurance regulatory authorities .

there are no statutory restrictions on the payment of dividends from retained earnings by any of the bermuda subsidiaries as the minimum statutory capital and surplus requirements are satisfied by the share capital and additional paid-in capital of each of the bermuda subsidiaries .

subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators .

statutory accounting differs from gaap in the reporting of certain reinsurance contracts , investments , subsidiaries , acquis- ition expenses , fixed assets , deferred income taxes , and certain other items .

the statutory capital and surplus of the u.s .

subsidiaries met regulatory requirements for 2010 , 2009 , and 2008 .

the amount of dividends available to be paid in 2011 , without prior approval from the state insurance departments , totals $ 850 million .

the following table presents the combined statutory capital and surplus and statutory net income of the bermuda and u.s .

subsidiaries at and for the years ended december 31 , 2010 , 2009 , and 2008. .

Question: what growth rate does this represent?

Answer: 0.02575


market street commitments by credit rating ( a ) december 31 , december 31 .

( a ) the majority of our facilities are not explicitly rated by the rating agencies .

all facilities are structured to meet rating agency standards for applicable rating levels .

we evaluated the design of market street , its capital structure , the note , and relationships among the variable interest holders .

based on this analysis and under accounting guidance effective during 2009 and 2008 , we are not the primary beneficiary and therefore the assets and liabilities of market street are not included on our consolidated balance sheet .

we considered changes to the variable interest holders ( such as new expected loss note investors and changes to program- level credit enhancement providers ) , terms of expected loss notes , and new types of risks related to market street as reconsideration events .

we reviewed the activities of market street on at least a quarterly basis to determine if a reconsideration event has occurred .

tax credit investments we make certain equity investments in various limited partnerships or limited liability companies ( llcs ) that sponsor affordable housing projects utilizing the low income housing tax credit ( lihtc ) pursuant to sections 42 and 47 of the internal revenue code .

the purpose of these investments is to achieve a satisfactory return on capital , to facilitate the sale of additional affordable housing product offerings and to assist us in achieving goals associated with the community reinvestment act .

the primary activities of the investments include the identification , development and operation of multi-family housing that is leased to qualifying residential tenants .

generally , these types of investments are funded through a combination of debt and equity .

we typically invest in these partnerships as a limited partner or non-managing member .

also , we are a national syndicator of affordable housing equity ( together with the investments described above , the 201clihtc investments 201d ) .

in these syndication transactions , we create funds in which our subsidiaries are the general partner or managing member and sell limited partnership or non-managing member interests to third parties , and in some cases may also purchase a limited partnership or non-managing member interest in the fund .

the purpose of this business is to generate income from the syndication of these funds , generate servicing fees by managing the funds , and earn tax credits to reduce our tax liability .

general partner or managing member activities include selecting , evaluating , structuring , negotiating , and closing the fund investments in operating limited partnerships , as well as oversight of the ongoing operations of the fund portfolio .

we evaluate our interests and third party interests in the limited partnerships/llcs in determining whether we are the primary beneficiary .

the primary beneficiary determination is based on which party absorbs a majority of the variability .

the primary sources of variability in lihtc investments are the tax credits , tax benefits due to passive losses on the investments and development and operating cash flows .

we have consolidated lihtc investments in which we absorb a majority of the variability and thus are considered the primary beneficiary .

the assets are primarily included in equity investments and other assets on our consolidated balance sheet with the liabilities classified in other liabilities and third party investors 2019 interests included in the equity section as noncontrolling interests .

neither creditors nor equity investors in the lihtc investments have any recourse to our general credit .

the consolidated aggregate assets and liabilities of these lihtc investments are provided in the consolidated vies 2013 pnc is primary beneficiary table and reflected in the 201cother 201d business segment .

we also have lihtc investments in which we are not the primary beneficiary , but are considered to have a significant variable interest based on our interests in the partnership/llc .

these investments are disclosed in the non-consolidated vies 2013 significant variable interests table .

the table also reflects our maximum exposure to loss .

our maximum exposure to loss is equal to our legally binding equity commitments adjusted for recorded impairment and partnership results .

we use the equity and cost methods to account for our investment in these entities with the investments reflected in equity investments on our consolidated balance sheet .

in addition , we increase our recognized investments and recognize a liability for all legally binding unfunded equity commitments .

these liabilities are reflected in other liabilities on our consolidated balance sheet .

credit risk transfer transaction national city bank , ( a former pnc subsidiary which merged into pnc bank , n.a .

in november 2009 ) sponsored a special purpose entity ( spe ) and concurrently entered into a credit risk transfer agreement with an independent third party to mitigate credit losses on a pool of nonconforming mortgage loans originated by its former first franklin business unit .

the spe was formed with a small equity contribution and was structured as a bankruptcy-remote entity so that its creditors have no recourse to us .

in exchange for a perfected security interest in the cash flows of the nonconforming mortgage loans , the spe issued to us asset-backed securities in the form of senior , mezzanine , and subordinated equity notes .

the spe was deemed to be a vie as its equity was not sufficient to finance its activities .

we were determined to be the primary beneficiary of the spe as we would absorb the majority of the expected losses of the spe through our holding of the asset-backed securities .

accordingly , this spe was consolidated and all of the entity 2019s assets , liabilities , and .

Question: in the year of 2009, considering the percentage of the total facilities the bbb/baa ones represented, if there had been 50 facilities, how many of them would have been bbb/baa?

Answer: 1.0


( a ) the majority of our facilities are not explicitly rated by the rating agencies .

all facilities are structured to meet rating agency standards for applicable rating levels .

we evaluated the design of market street , its capital structure , the note , and relationships among the variable interest holders .

based on this analysis and under accounting guidance effective during 2009 and 2008 , we are not the primary beneficiary and therefore the assets and liabilities of market street are not included on our consolidated balance sheet .

we considered changes to the variable interest holders ( such as new expected loss note investors and changes to program- level credit enhancement providers ) , terms of expected loss notes , and new types of risks related to market street as reconsideration events .

we reviewed the activities of market street on at least a quarterly basis to determine if a reconsideration event has occurred .

tax credit investments we make certain equity investments in various limited partnerships or limited liability companies ( llcs ) that sponsor affordable housing projects utilizing the low income housing tax credit ( lihtc ) pursuant to sections 42 and 47 of the internal revenue code .

the purpose of these investments is to achieve a satisfactory return on capital , to facilitate the sale of additional affordable housing product offerings and to assist us in achieving goals associated with the community reinvestment act .

the primary activities of the investments include the identification , development and operation of multi-family housing that is leased to qualifying residential tenants .

generally , these types of investments are funded through a combination of debt and equity .

we typically invest in these partnerships as a limited partner or non-managing member .

also , we are a national syndicator of affordable housing equity ( together with the investments described above , the 201clihtc investments 201d ) .

in these syndication transactions , we create funds in which our subsidiaries are the general partner or managing member and sell limited partnership or non-managing member interests to third parties , and in some cases may also purchase a limited partnership or non-managing member interest in the fund .

the purpose of this business is to generate income from the syndication of these funds , generate servicing fees by managing the funds , and earn tax credits to reduce our tax liability .

general partner or managing member activities include selecting , evaluating , structuring , negotiating , and closing the fund investments in operating limited partnerships , as well as oversight of the ongoing operations of the fund portfolio .

we evaluate our interests and third party interests in the limited partnerships/llcs in determining whether we are the primary beneficiary .

the primary beneficiary determination is based on which party absorbs a majority of the variability .

the primary sources of variability in lihtc investments are the tax credits , tax benefits due to passive losses on the investments and development and operating cash flows .

we have consolidated lihtc investments in which we absorb a majority of the variability and thus are considered the primary beneficiary .

the assets are primarily included in equity investments and other assets on our consolidated balance sheet with the liabilities classified in other liabilities and third party investors 2019 interests included in the equity section as noncontrolling interests .

neither creditors nor equity investors in the lihtc investments have any recourse to our general credit .

the consolidated aggregate assets and liabilities of these lihtc investments are provided in the consolidated vies 2013 pnc is primary beneficiary table and reflected in the 201cother 201d business segment .

we also have lihtc investments in which we are not the primary beneficiary , but are considered to have a significant variable interest based on our interests in the partnership/llc .

these investments are disclosed in the non-consolidated vies 2013 significant variable interests table .

the table also reflects our maximum exposure to loss .

our maximum exposure to loss is equal to our legally binding equity commitments adjusted for recorded impairment and partnership results .

we use the equity and cost methods to account for our investment in these entities with the investments reflected in equity investments on our consolidated balance sheet .

in addition , we increase our recognized investments and recognize a liability for all legally binding unfunded equity commitments .

these liabilities are reflected in other liabilities on our consolidated balance sheet .

credit risk transfer transaction national city bank , ( a former pnc subsidiary which merged into pnc bank , n.a .

in november 2009 ) sponsored a special purpose entity ( spe ) and concurrently entered into a credit risk transfer agreement with an independent third party to mitigate credit losses on a pool of nonconforming mortgage loans originated by its former first franklin business unit .

the spe was formed with a small equity contribution and was structured as a bankruptcy-remote entity so that its creditors have no recourse to us .

in exchange for a perfected security interest in the cash flows of the nonconforming mortgage loans , the spe issued to us asset-backed securities in the form of senior , mezzanine , and subordinated equity notes .

the spe was deemed to be a vie as its equity was not sufficient to finance its activities .

we were determined to be the primary beneficiary of the spe as we would absorb the majority of the expected losses of the spe through our holding of the asset-backed securities .

accordingly , this spe was consolidated and all of the entity 2019s assets , liabilities , and .

in the year of 2009, considering the percentage of the total facilities the bbb/baa ones represented, if there had been 50 facilities, how many of them would have been bbb/baa?

Question: and between 2008 and 2009, what was the change in that percentage of the bbb/baa?

Answer: -1.0


quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items .

from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks .

derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes .

interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations .

the majority of our debt ( approximately 89% ( 89 % ) and 91% ( 91 % ) as of december 31 , 2015 and 2014 , respectively ) bears interest at fixed rates .

we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows .

the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below .

increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .

we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates .

we do not have any interest rate swaps outstanding as of december 31 , 2015 .

we had $ 1509.7 of cash , cash equivalents and marketable securities as of december 31 , 2015 that we generally invest in conservative , short-term bank deposits or securities .

the interest income generated from these investments is subject to both domestic and foreign interest rate movements .

during 2015 and 2014 , we had interest income of $ 22.8 and $ 27.4 , respectively .

based on our 2015 results , a 100-basis-point increase or decrease in interest rates would affect our interest income by approximately $ 15.0 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2015 levels .

foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates .

since we report revenues and expenses in u.s .

dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s .

the primary foreign currencies that impacted our results during 2015 included the australian dollar , brazilian real , british pound sterling and euro .

based on 2015 exchange rates and operating results , if the u.s .

dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2015 levels .

the functional currency of our foreign operations is generally their respective local currency .

assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented .

the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets .

our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk .

however , certain subsidiaries may enter into transactions in currencies other than their functional currency .

assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement .

currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses .

we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures .

we do not enter into foreign exchange contracts or other derivatives for speculative purposes. .

1	as of december 31,	increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates	increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates

2	2015	$ -33.7 ( 33.7 )	$ 34.7

3	2014	-35.5 ( 35.5 )	36.6

Question: what was the change in the interest income from 2014 to 2015?

Answer: 4.6


we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates .

we do not have any interest rate swaps outstanding as of december 31 , 2015 .

we had $ 1509.7 of cash , cash equivalents and marketable securities as of december 31 , 2015 that we generally invest in conservative , short-term bank deposits or securities .

the interest income generated from these investments is subject to both domestic and foreign interest rate movements .

during 2015 and 2014 , we had interest income of $ 22.8 and $ 27.4 , respectively .

based on our 2015 results , a 100-basis-point increase or decrease in interest rates would affect our interest income by approximately $ 15.0 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2015 levels .

foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates .

since we report revenues and expenses in u.s .

dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s .

the primary foreign currencies that impacted our results during 2015 included the australian dollar , brazilian real , british pound sterling and euro .

based on 2015 exchange rates and operating results , if the u.s .

dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2015 levels .

the functional currency of our foreign operations is generally their respective local currency .

assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented .

the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets .

our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk .

however , certain subsidiaries may enter into transactions in currencies other than their functional currency .

assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement .

currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses .

we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures .

we do not enter into foreign exchange contracts or other derivatives for speculative purposes. .

what was the change in the interest income from 2014 to 2015?

Question: and how much does this change represent in relation to that interest income in 2014?

Answer: 0.16788


we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates .

we do not have any interest rate swaps outstanding as of december 31 , 2015 .

we had $ 1509.7 of cash , cash equivalents and marketable securities as of december 31 , 2015 that we generally invest in conservative , short-term bank deposits or securities .

the interest income generated from these investments is subject to both domestic and foreign interest rate movements .

during 2015 and 2014 , we had interest income of $ 22.8 and $ 27.4 , respectively .

based on our 2015 results , a 100-basis-point increase or decrease in interest rates would affect our interest income by approximately $ 15.0 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2015 levels .

foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates .

since we report revenues and expenses in u.s .

dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s .

the primary foreign currencies that impacted our results during 2015 included the australian dollar , brazilian real , british pound sterling and euro .

based on 2015 exchange rates and operating results , if the u.s .

dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2015 levels .

the functional currency of our foreign operations is generally their respective local currency .

assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented .

the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets .

our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk .

however , certain subsidiaries may enter into transactions in currencies other than their functional currency .

assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement .

currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses .

we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures .

we do not enter into foreign exchange contracts or other derivatives for speculative purposes. .

and how much does this change represent in relation to that interest income in 2014?

Question: how much is that in percentage?

Answer: 16.78832


management's financial discussion and analysis fuel and purchased power expenses increased primarily due to an increase in power purchases as a result of the purchased power agreements between entergy gulf states louisiana and entergy texas and an increase in the average market prices of purchased power and natural gas , substantially offset by a decrease in deferred fuel expense as a result of decreased recovery from customers of fuel costs .

other regulatory charges increased primarily due to an increase of $ 6.9 million in the recovery of bond expenses related to the securitization bonds .

the recovery became effective july 2007 .

see note 5 to the financial statements for additional information regarding the securitization bonds .

2007 compared to 2006 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges .

following is an analysis of the change in net revenue comparing 2007 to 2006 .

the purchased power capacity variance is due to changes in the purchased power capacity costs included in the calculation in 2007 compared to 2006 used to bill generation costs between entergy texas and entergy gulf states louisiana .

the securitization transition charge variance is due to the issuance of securitization bonds .

as discussed above , in june 2007 , egsrf i , 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 .

see note 5 to the financial statements herein for details of the securitization bond issuance .

the volume/weather variance is due to increased electricity usage on billed retail sales , including the effects of more favorable weather in 2007 compared to the same period in 2006 .

the increase is also due to an increase in usage during the unbilled sales period .

retail electricity usage increased a total of 139 gwh in all sectors .

see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues .

the transmission revenue variance is due to an increase in rates effective june 2007 and new transmission customers in late 2006 .

the base revenue variance is due to the transition to competition rider that began in march 2006 .

refer to note 2 to the financial statements for further discussion of the rate increase .

gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues decreased primarily due to a decrease of $ 179 million in fuel cost recovery revenues due to lower fuel rates and fuel refunds .

the decrease was partially offset by the $ 39 million increase in net revenue described above and an increase of $ 44 million in wholesale revenues , including $ 30 million from the system agreement cost equalization payments from entergy arkansas .

1		amount ( in millions )

2	2006 net revenue	$ 403.3

3	purchased power capacity	13.1

4	securitization transition charge	9.9

5	volume/weather	9.7

6	transmission revenue	6.1

7	base revenue	2.6

8	other	-2.4 ( 2.4 )

9	2007 net revenue	$ 442.3

Question: what was the change in net revenue for entergy texas in 2007?

Answer: 39.0


what was the change in net revenue for entergy texas in 2007?

Question: and the growth rate during this time?

Answer: 0.0967


Question: what was the change in net revenue for entergy texas in 2007?

Answer: 39.0


notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) a summary of the remaining liability for the 2007 , 2003 and 2001 restructuring programs is as follows : program program program total .

1 includes amounts representing adjustments to the liability for changes in foreign currency exchange rates .

other reorganization-related charges other reorganization-related charges relate to our realignment of our media businesses into a newly created management entity called mediabrands and the 2006 merger of draft worldwide and foote , cone and belding worldwide to create draftfcb .

charges related to severance and terminations costs and lease termination and other exit costs .

we expect charges associated with mediabrands to be completed during the first half of 2009 .

charges related to the creation of draftfcb in 2006 are complete .

the charges were separated from the rest of our operating expenses within the consolidated statements of operations because they did not result from charges that occurred in the normal course of business. .

Question: as of december 31, 2008, what was the total liability from the 2003 and the 2007 program, combined?

Answer: 6.9


as of december 31, 2008, what was the total liability from the 2003 and the 2007 program, combined?

Question: including the 2001 program, what becomes this total liability?

Answer: 12.8


including the 2001 program, what becomes this total liability?

Question: and what was the average liability between those three years?

Answer: 4.26667


and what was the average liability between those three years?

Question: and concerning that total liability, by how much did it change since the end of 2006?

Answer: -19.0


proportional free cash flow ( a non-gaap measure ) we define proportional free cash flow as cash flows from operating activities less maintenance capital expenditures ( including non-recoverable environmental capital expenditures ) , adjusted for the estimated impact of noncontrolling interests .

the proportionate share of cash flows and related adjustments attributable to noncontrolling interests in our subsidiaries comprise the proportional adjustment factor presented in the reconciliation below .

upon the company's adoption of the accounting guidance for service concession arrangements effective january 1 , 2015 , capital expenditures related to service concession assets that would have been classified as investing activities on the consolidated statement of cash flows are now classified as operating activities .

see note 1 2014general and summary of significant accounting policies of this form 10-k for further information on the adoption of this guidance .

beginning in the quarter ended march 31 , 2015 , the company changed the definition of proportional free cash flow to exclude the cash flows for capital expenditures related to service concession assets that are now classified within net cash provided by operating activities on the consolidated statement of cash flows .

the proportional adjustment factor for these capital expenditures is presented in the reconciliation below .

we also exclude environmental capital expenditures that are expected to be recovered through regulatory , contractual or other mechanisms .

an example of recoverable environmental capital expenditures is ipl's investment in mats-related environmental upgrades that are recovered through a tracker .

see item 1 . 2014us sbu 2014ipl 2014environmental matters for details of these investments .

the gaap measure most comparable to proportional free cash flow is cash flows from operating activities .

we believe that proportional free cash flow better reflects the underlying business performance of the company , as it measures the cash generated by the business , after the funding of maintenance capital expenditures , that may be available for investing or repaying debt or other purposes .

factors in this determination include the impact of noncontrolling interests , where aes consolidates the results of a subsidiary that is not wholly-owned by the company .

the presentation of free cash flow has material limitations .

proportional free cash flow should not be construed as an alternative to cash from operating activities , which is determined in accordance with gaap .

proportional free cash flow does not represent our cash flow available for discretionary payments because it excludes certain payments that are required or to which we have committed , such as debt service requirements and dividend payments .

our definition of proportional free cash flow may not be comparable to similarly titled measures presented by other companies .

calculation of proportional free cash flow ( in millions ) 2015 2014 2013 2015/2014change 2014/2013 change .

( 1 ) service concession asset expenditures excluded from proportional free cash flow non-gaap metric .

( 2 ) the proportional adjustment factor , proportional maintenance capital expenditures ( net of reinsurance proceeds ) and proportional non-recoverable environmental capital expenditures are calculated by multiplying the percentage owned by noncontrolling interests for each entity by its corresponding consolidated cash flow metric and are totaled to the resulting figures .

for example , parent company a owns 20% ( 20 % ) of subsidiary company b , a consolidated subsidiary .

thus , subsidiary company b has an 80% ( 80 % ) noncontrolling interest .

assuming a consolidated net cash flow from operating activities of $ 100 from subsidiary b , the proportional adjustment factor for subsidiary b would equal $ 80 ( or $ 100 x 80% ( 80 % ) ) .

the company calculates the proportional adjustment factor for each consolidated business in this manner and then sums these amounts to determine the total proportional adjustment factor used in the reconciliation .

the proportional adjustment factor may differ from the proportion of income attributable to noncontrolling interests as a result of ( a ) non-cash items which impact income but not cash and ( b ) aes' ownership interest in the subsidiary where such items occur .

( 3 ) includes proportional adjustment amount for service concession asset expenditures of $ 84 million for the year ended december 31 , 2015 .

the company adopted service concession accounting effective january 1 , 2015 .

( 4 ) excludes ipl's proportional recoverable environmental capital expenditures of $ 205 million , $ 163 million and $ 110 million for the years december 31 , 2015 , 2014 and 2013 , respectively. .

1	calculation of proportional free cash flow ( in millions )	2015	2014	2013	2015/2014 change	2014/2013 change

2	net cash provided by operating activities	$ 2134	$ 1791	$ 2715	$ 343	$ -924 ( 924 )

3	add : capital expenditures related to service concession assets ( 1 )	165	2014	2014	165	2014

4	adjusted operating cash flow	2299	1791	2715	508	-924 ( 924 )

5	less : proportional adjustment factor on operating cash activities ( 2 ) ( 3 )	-558 ( 558 )	-359 ( 359 )	-834 ( 834 )	-199 ( 199 )	475

6	proportional adjusted operating cash flow	1741	1432	1881	309	-449 ( 449 )

7	less : proportional maintenance capital expenditures net of reinsurance proceeds ( 2 )	-449 ( 449 )	-485 ( 485 )	-535 ( 535 )	36	50

8	less : proportional non-recoverable environmental capital expenditures ( 2 ) ( 4 )	-51 ( 51 )	-56 ( 56 )	-75 ( 75 )	5	19

9	proportional free cash flow	$ 1241	$ 891	$ 1271	$ 350	$ -380 ( 380 )

Question: what is the proportional recoverable environmental capital expenditures in 2015?

Answer: 205.0


proportional free cash flow ( a non-gaap measure ) we define proportional free cash flow as cash flows from operating activities less maintenance capital expenditures ( including non-recoverable environmental capital expenditures ) , adjusted for the estimated impact of noncontrolling interests .

the proportionate share of cash flows and related adjustments attributable to noncontrolling interests in our subsidiaries comprise the proportional adjustment factor presented in the reconciliation below .

upon the company's adoption of the accounting guidance for service concession arrangements effective january 1 , 2015 , capital expenditures related to service concession assets that would have been classified as investing activities on the consolidated statement of cash flows are now classified as operating activities .

see note 1 2014general and summary of significant accounting policies of this form 10-k for further information on the adoption of this guidance .

beginning in the quarter ended march 31 , 2015 , the company changed the definition of proportional free cash flow to exclude the cash flows for capital expenditures related to service concession assets that are now classified within net cash provided by operating activities on the consolidated statement of cash flows .

the proportional adjustment factor for these capital expenditures is presented in the reconciliation below .

we also exclude environmental capital expenditures that are expected to be recovered through regulatory , contractual or other mechanisms .

an example of recoverable environmental capital expenditures is ipl's investment in mats-related environmental upgrades that are recovered through a tracker .

see item 1 . 2014us sbu 2014ipl 2014environmental matters for details of these investments .

the gaap measure most comparable to proportional free cash flow is cash flows from operating activities .

we believe that proportional free cash flow better reflects the underlying business performance of the company , as it measures the cash generated by the business , after the funding of maintenance capital expenditures , that may be available for investing or repaying debt or other purposes .

factors in this determination include the impact of noncontrolling interests , where aes consolidates the results of a subsidiary that is not wholly-owned by the company .

the presentation of free cash flow has material limitations .

proportional free cash flow should not be construed as an alternative to cash from operating activities , which is determined in accordance with gaap .

proportional free cash flow does not represent our cash flow available for discretionary payments because it excludes certain payments that are required or to which we have committed , such as debt service requirements and dividend payments .

our definition of proportional free cash flow may not be comparable to similarly titled measures presented by other companies .

calculation of proportional free cash flow ( in millions ) 2015 2014 2013 2015/2014change 2014/2013 change .

what is the proportional recoverable environmental capital expenditures in 2015?

Question: what is the value in 2014?

Answer: 163.0


proportional free cash flow ( a non-gaap measure ) we define proportional free cash flow as cash flows from operating activities less maintenance capital expenditures ( including non-recoverable environmental capital expenditures ) , adjusted for the estimated impact of noncontrolling interests .

the proportionate share of cash flows and related adjustments attributable to noncontrolling interests in our subsidiaries comprise the proportional adjustment factor presented in the reconciliation below .

upon the company's adoption of the accounting guidance for service concession arrangements effective january 1 , 2015 , capital expenditures related to service concession assets that would have been classified as investing activities on the consolidated statement of cash flows are now classified as operating activities .

see note 1 2014general and summary of significant accounting policies of this form 10-k for further information on the adoption of this guidance .

beginning in the quarter ended march 31 , 2015 , the company changed the definition of proportional free cash flow to exclude the cash flows for capital expenditures related to service concession assets that are now classified within net cash provided by operating activities on the consolidated statement of cash flows .

the proportional adjustment factor for these capital expenditures is presented in the reconciliation below .

we also exclude environmental capital expenditures that are expected to be recovered through regulatory , contractual or other mechanisms .

an example of recoverable environmental capital expenditures is ipl's investment in mats-related environmental upgrades that are recovered through a tracker .

see item 1 . 2014us sbu 2014ipl 2014environmental matters for details of these investments .

the gaap measure most comparable to proportional free cash flow is cash flows from operating activities .

we believe that proportional free cash flow better reflects the underlying business performance of the company , as it measures the cash generated by the business , after the funding of maintenance capital expenditures , that may be available for investing or repaying debt or other purposes .

factors in this determination include the impact of noncontrolling interests , where aes consolidates the results of a subsidiary that is not wholly-owned by the company .

the presentation of free cash flow has material limitations .

proportional free cash flow should not be construed as an alternative to cash from operating activities , which is determined in accordance with gaap .

proportional free cash flow does not represent our cash flow available for discretionary payments because it excludes certain payments that are required or to which we have committed , such as debt service requirements and dividend payments .

our definition of proportional free cash flow may not be comparable to similarly titled measures presented by other companies .

calculation of proportional free cash flow ( in millions ) 2015 2014 2013 2015/2014change 2014/2013 change .

Question: what is the sum of those 2 years?

Answer: 368.0


proportional free cash flow ( a non-gaap measure ) we define proportional free cash flow as cash flows from operating activities less maintenance capital expenditures ( including non-recoverable environmental capital expenditures ) , adjusted for the estimated impact of noncontrolling interests .

the proportionate share of cash flows and related adjustments attributable to noncontrolling interests in our subsidiaries comprise the proportional adjustment factor presented in the reconciliation below .

upon the company's adoption of the accounting guidance for service concession arrangements effective january 1 , 2015 , capital expenditures related to service concession assets that would have been classified as investing activities on the consolidated statement of cash flows are now classified as operating activities .

see note 1 2014general and summary of significant accounting policies of this form 10-k for further information on the adoption of this guidance .

beginning in the quarter ended march 31 , 2015 , the company changed the definition of proportional free cash flow to exclude the cash flows for capital expenditures related to service concession assets that are now classified within net cash provided by operating activities on the consolidated statement of cash flows .

the proportional adjustment factor for these capital expenditures is presented in the reconciliation below .

we also exclude environmental capital expenditures that are expected to be recovered through regulatory , contractual or other mechanisms .

an example of recoverable environmental capital expenditures is ipl's investment in mats-related environmental upgrades that are recovered through a tracker .

see item 1 . 2014us sbu 2014ipl 2014environmental matters for details of these investments .

the gaap measure most comparable to proportional free cash flow is cash flows from operating activities .

we believe that proportional free cash flow better reflects the underlying business performance of the company , as it measures the cash generated by the business , after the funding of maintenance capital expenditures , that may be available for investing or repaying debt or other purposes .

factors in this determination include the impact of noncontrolling interests , where aes consolidates the results of a subsidiary that is not wholly-owned by the company .

the presentation of free cash flow has material limitations .

proportional free cash flow should not be construed as an alternative to cash from operating activities , which is determined in accordance with gaap .

proportional free cash flow does not represent our cash flow available for discretionary payments because it excludes certain payments that are required or to which we have committed , such as debt service requirements and dividend payments .

our definition of proportional free cash flow may not be comparable to similarly titled measures presented by other companies .

calculation of proportional free cash flow ( in millions ) 2015 2014 2013 2015/2014change 2014/2013 change .

Question: what is the value in 2013?

Answer: 110.0