and subsidiaries notes to consolidated financial statements 2014 ( continued ) ( 7 ) commitments and contingencies the company applies the disclosure provisions of fin no .

45 , guarantor 2019s accounting and disclosure requirements for guarantees , including guarantees of indebtedness of others , and interpretation of fasb statements no .

5 , 57 and 107 and rescission of fasb interpretation no .

45 ) to its agreements that contain guarantee or indemnification clauses .

these disclosure provisions expand those required by sfas no .

5 accounting for contingencies , by requiring that guarantors disclose certain types of guarantees , even if the likelihood of requiring the guarantor 2019s performance is remote .

the following is a description of arrangements in which the company is a guarantor .

product warranties 2014the company routinely accrues for estimated future warranty costs on its product sales at the time of sale .

the ab5000 and bvs products are subject to rigorous regulation and quality standards .

operating results could be adversely effected if the actual cost of product failures exceeds the estimated warranty provision .

patent indemnifications 2014in many sales transactions , the company indemnifies customers against possible claims of patent infringement caused by the company 2019s products .

the indemnifications contained within sales contracts usually do not include limits on the claims .

the company has never incurred any material costs to defend lawsuits or settle patent infringement claims related to sales transactions .

45 , intellectual property indemnifications require disclosure only .

as of march 31 , 2006 , the company had entered into leases for its facilities , including its primary operating facility in danvers , massachusetts , with terms through fiscal 2010 .

the danvers lease may be extended , at the company 2019s option , for two successive additional periods of five years each with monthly rent charges to be determined based on then current fair rental values .

the company 2019s lease for its aachen location expires in august 2008 unless an option to extend for an additional four years is exercised by the company .

in december 2005 we closed our office facility in the netherlands , recording a charge of approximately $ 58000 for the remaining lease term .

total rent expense under these leases , included in the accompanying consolidated statements of operations approximated $ 821000 , $ 824000 and $ 1262000 for the fiscal years ended march 31 , 2004 , 2005 and 2006 , respectively .

future minimum lease payments under all significant non-cancelable operating leases as of march 31 , 2006 are approximately as follows ( in thousands ) : fiscal year ending march 31 , operating leases .

from time-to-time , the company is involved in legal and administrative proceedings and claims of various types .

while any litigation contains an element of uncertainty , management , in consultation with the company 2019s general counsel , presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened , or all of them combined , is not expected to have a material adverse effect on the company 2019s financial position , cash flow and results .

nazarian , as selling stockholder representative , filed a demand for arbitration ( subsequently amended ) with the boston office of the american arbitration association .

1	fiscal year ending march 31,	operating leases

2	2007	1703

3	2008	1371

4	2009	1035

5	2010	710

6	total future minimum lease payments	$ 4819

Question: what were operating leases in 2007?

Answer: 1703.0


and subsidiaries notes to consolidated financial statements 2014 ( continued ) ( 7 ) commitments and contingencies the company applies the disclosure provisions of fin no .

45 , guarantor 2019s accounting and disclosure requirements for guarantees , including guarantees of indebtedness of others , and interpretation of fasb statements no .

5 , 57 and 107 and rescission of fasb interpretation no .

45 ) to its agreements that contain guarantee or indemnification clauses .

these disclosure provisions expand those required by sfas no .

5 accounting for contingencies , by requiring that guarantors disclose certain types of guarantees , even if the likelihood of requiring the guarantor 2019s performance is remote .

the following is a description of arrangements in which the company is a guarantor .

product warranties 2014the company routinely accrues for estimated future warranty costs on its product sales at the time of sale .

the ab5000 and bvs products are subject to rigorous regulation and quality standards .

operating results could be adversely effected if the actual cost of product failures exceeds the estimated warranty provision .

patent indemnifications 2014in many sales transactions , the company indemnifies customers against possible claims of patent infringement caused by the company 2019s products .

the indemnifications contained within sales contracts usually do not include limits on the claims .

the company has never incurred any material costs to defend lawsuits or settle patent infringement claims related to sales transactions .

45 , intellectual property indemnifications require disclosure only .

as of march 31 , 2006 , the company had entered into leases for its facilities , including its primary operating facility in danvers , massachusetts , with terms through fiscal 2010 .

the danvers lease may be extended , at the company 2019s option , for two successive additional periods of five years each with monthly rent charges to be determined based on then current fair rental values .

the company 2019s lease for its aachen location expires in august 2008 unless an option to extend for an additional four years is exercised by the company .

in december 2005 we closed our office facility in the netherlands , recording a charge of approximately $ 58000 for the remaining lease term .

total rent expense under these leases , included in the accompanying consolidated statements of operations approximated $ 821000 , $ 824000 and $ 1262000 for the fiscal years ended march 31 , 2004 , 2005 and 2006 , respectively .

future minimum lease payments under all significant non-cancelable operating leases as of march 31 , 2006 are approximately as follows ( in thousands ) : fiscal year ending march 31 , operating leases .

Question: what were they in 2008?

Answer: 1371.0


and subsidiaries notes to consolidated financial statements 2014 ( continued ) ( 7 ) commitments and contingencies the company applies the disclosure provisions of fin no .

45 , guarantor 2019s accounting and disclosure requirements for guarantees , including guarantees of indebtedness of others , and interpretation of fasb statements no .

5 , 57 and 107 and rescission of fasb interpretation no .

45 ) to its agreements that contain guarantee or indemnification clauses .

these disclosure provisions expand those required by sfas no .

5 accounting for contingencies , by requiring that guarantors disclose certain types of guarantees , even if the likelihood of requiring the guarantor 2019s performance is remote .

the following is a description of arrangements in which the company is a guarantor .

product warranties 2014the company routinely accrues for estimated future warranty costs on its product sales at the time of sale .

the ab5000 and bvs products are subject to rigorous regulation and quality standards .

operating results could be adversely effected if the actual cost of product failures exceeds the estimated warranty provision .

patent indemnifications 2014in many sales transactions , the company indemnifies customers against possible claims of patent infringement caused by the company 2019s products .

the indemnifications contained within sales contracts usually do not include limits on the claims .

the company has never incurred any material costs to defend lawsuits or settle patent infringement claims related to sales transactions .

45 , intellectual property indemnifications require disclosure only .

as of march 31 , 2006 , the company had entered into leases for its facilities , including its primary operating facility in danvers , massachusetts , with terms through fiscal 2010 .

the danvers lease may be extended , at the company 2019s option , for two successive additional periods of five years each with monthly rent charges to be determined based on then current fair rental values .

the company 2019s lease for its aachen location expires in august 2008 unless an option to extend for an additional four years is exercised by the company .

in december 2005 we closed our office facility in the netherlands , recording a charge of approximately $ 58000 for the remaining lease term .

total rent expense under these leases , included in the accompanying consolidated statements of operations approximated $ 821000 , $ 824000 and $ 1262000 for the fiscal years ended march 31 , 2004 , 2005 and 2006 , respectively .

future minimum lease payments under all significant non-cancelable operating leases as of march 31 , 2006 are approximately as follows ( in thousands ) : fiscal year ending march 31 , operating leases .

what were operating leases in 2007?
what were they in 2008?

Question: what is the net change from 2007 to 2008?

Answer: 332.0


and subsidiaries notes to consolidated financial statements 2014 ( continued ) ( 7 ) commitments and contingencies the company applies the disclosure provisions of fin no .

45 , guarantor 2019s accounting and disclosure requirements for guarantees , including guarantees of indebtedness of others , and interpretation of fasb statements no .

5 , 57 and 107 and rescission of fasb interpretation no .

45 ) to its agreements that contain guarantee or indemnification clauses .

these disclosure provisions expand those required by sfas no .

5 accounting for contingencies , by requiring that guarantors disclose certain types of guarantees , even if the likelihood of requiring the guarantor 2019s performance is remote .

the following is a description of arrangements in which the company is a guarantor .

product warranties 2014the company routinely accrues for estimated future warranty costs on its product sales at the time of sale .

the ab5000 and bvs products are subject to rigorous regulation and quality standards .

operating results could be adversely effected if the actual cost of product failures exceeds the estimated warranty provision .

patent indemnifications 2014in many sales transactions , the company indemnifies customers against possible claims of patent infringement caused by the company 2019s products .

the indemnifications contained within sales contracts usually do not include limits on the claims .

the company has never incurred any material costs to defend lawsuits or settle patent infringement claims related to sales transactions .

45 , intellectual property indemnifications require disclosure only .

as of march 31 , 2006 , the company had entered into leases for its facilities , including its primary operating facility in danvers , massachusetts , with terms through fiscal 2010 .

the danvers lease may be extended , at the company 2019s option , for two successive additional periods of five years each with monthly rent charges to be determined based on then current fair rental values .

the company 2019s lease for its aachen location expires in august 2008 unless an option to extend for an additional four years is exercised by the company .

in december 2005 we closed our office facility in the netherlands , recording a charge of approximately $ 58000 for the remaining lease term .

total rent expense under these leases , included in the accompanying consolidated statements of operations approximated $ 821000 , $ 824000 and $ 1262000 for the fiscal years ended march 31 , 2004 , 2005 and 2006 , respectively .

future minimum lease payments under all significant non-cancelable operating leases as of march 31 , 2006 are approximately as follows ( in thousands ) : fiscal year ending march 31 , operating leases .

what is the net change from 2007 to 2008?

Question: what was the 2007 value?

Answer: 1703.0


and subsidiaries notes to consolidated financial statements 2014 ( continued ) ( 7 ) commitments and contingencies the company applies the disclosure provisions of fin no .

45 , guarantor 2019s accounting and disclosure requirements for guarantees , including guarantees of indebtedness of others , and interpretation of fasb statements no .

5 , 57 and 107 and rescission of fasb interpretation no .

45 ) to its agreements that contain guarantee or indemnification clauses .

these disclosure provisions expand those required by sfas no .

5 accounting for contingencies , by requiring that guarantors disclose certain types of guarantees , even if the likelihood of requiring the guarantor 2019s performance is remote .

the following is a description of arrangements in which the company is a guarantor .

product warranties 2014the company routinely accrues for estimated future warranty costs on its product sales at the time of sale .

the ab5000 and bvs products are subject to rigorous regulation and quality standards .

operating results could be adversely effected if the actual cost of product failures exceeds the estimated warranty provision .

patent indemnifications 2014in many sales transactions , the company indemnifies customers against possible claims of patent infringement caused by the company 2019s products .

the indemnifications contained within sales contracts usually do not include limits on the claims .

the company has never incurred any material costs to defend lawsuits or settle patent infringement claims related to sales transactions .

45 , intellectual property indemnifications require disclosure only .

as of march 31 , 2006 , the company had entered into leases for its facilities , including its primary operating facility in danvers , massachusetts , with terms through fiscal 2010 .

the danvers lease may be extended , at the company 2019s option , for two successive additional periods of five years each with monthly rent charges to be determined based on then current fair rental values .

the company 2019s lease for its aachen location expires in august 2008 unless an option to extend for an additional four years is exercised by the company .

in december 2005 we closed our office facility in the netherlands , recording a charge of approximately $ 58000 for the remaining lease term .

total rent expense under these leases , included in the accompanying consolidated statements of operations approximated $ 821000 , $ 824000 and $ 1262000 for the fiscal years ended march 31 , 2004 , 2005 and 2006 , respectively .

future minimum lease payments under all significant non-cancelable operating leases as of march 31 , 2006 are approximately as follows ( in thousands ) : fiscal year ending march 31 , operating leases .

Question: what is the percent decrease?

Answer: 0.19495


backlog backlog decreased in 2015 compared to 2014 primarily due to sales being recognized on several multi-year programs ( such as hmsc , nisc iii , ciog and nsf asc ) related to prior year awards and a limited number of large new business awards .

backlog decreased in 2014 compared to 2013 primarily due to lower customer funding levels and declining activities on direct warfighter support programs impacted by defense budget reductions .

trends we expect is&gs 2019 2016 net sales to decline in the high-single digit percentage range as compared to 2015 , primarily driven by key loss contracts in an increasingly competitive environment , along with volume contraction on the segment 2019s major contracts .

operating profit is expected to decline at a higher percentage range in 2016 , as compared to net sales percentage declines , driven by higher margin program losses and re-compete programs awarded at lower margins .

accordingly , 2016 margins are expected to be lower than 2015 results .

missiles and fire control our mfc business segment provides air and missile defense systems ; tactical missiles and air-to-ground precision strike weapon systems ; logistics ; fire control systems ; mission operations support , readiness , engineering support and integration services ; manned and unmanned ground vehicles ; and energy management solutions .

mfc 2019s major programs include pac-3 , thaad , multiple launch rocket system , hellfire , jassm , javelin , apache , sniper ae , low altitude navigation and targeting infrared for night ( lantirn ae ) and sof clss .

mfc 2019s operating results included the following ( in millions ) : .

2015 compared to 2014 mfc 2019s net sales in 2015 decreased $ 322 million , or 5% ( 5 % ) , compared to the same period in 2014 .

the decrease was attributable to lower net sales of approximately $ 345 million for air and missile defense programs due to fewer deliveries ( primarily pac-3 ) and lower volume ( primarily thaad ) ; and approximately $ 85 million for tactical missile programs due to fewer deliveries ( primarily guided multiple launch rocket system ( gmlrs ) ) and joint air-to-surface standoff missile , partially offset by increased deliveries for hellfire .

these decreases were partially offset by higher net sales of approximately $ 55 million for energy solutions programs due to increased volume .

mfc 2019s operating profit in 2015 decreased $ 62 million , or 5% ( 5 % ) , compared to 2014 .

the decrease was attributable to lower operating profit of approximately $ 100 million for fire control programs due primarily to lower risk retirements ( primarily lantirn and sniper ) ; and approximately $ 65 million for tactical missile programs due to lower risk retirements ( primarily hellfire and gmlrs ) and fewer deliveries .

these decreases were partially offset by higher operating profit of approximately $ 75 million for air and missile defense programs due to increased risk retirements ( primarily thaad ) .

adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 60 million lower in 2015 compared to 2014 .

2014 compared to 2013 mfc 2019s net sales increased $ 297 million , or 4% ( 4 % ) , in 2014 as compared to 2013 .

the increase was primarily attributable to higher net sales of approximately $ 180 million for air and missile defense programs primarily due to increased volume for thaad ; about $ 115 million for fire control programs due to increased deliveries ( including apache ) ; and about $ 125 million for various other programs due to increased volume .

these increases were partially offset by lower net sales of approximately $ 115 million for tactical missile programs due to fewer deliveries ( primarily high mobility artillery rocket system and army tactical missile system ) .

mfc 2019s operating profit decreased $ 35 million , or 3% ( 3 % ) , in 2014 as compared to 2013 .

the decrease was primarily attributable to lower operating profit of about $ 20 million for tactical missile programs due to net warranty reserve adjustments for various programs ( including jassm and gmlrs ) and fewer deliveries ; and approximately $ 45 million for various other programs due to lower risk retirements .

the decreases were offset by higher operating profit of approximately $ 20 million for air and missile defense programs due to increased volume ( primarily thaad and pac-3 ) ; and about .

Question: what is the sum of the average backlog at year-end in 2014 and 2015?

Answer: 28800.0


what is the sum of the average backlog at year-end in 2014 and 2015?

Question: what is the sum including the 2013 value?

Answer: 43100.0


what is the sum including the 2013 value?

Question: what is that divided by 3?

Answer: 14366.66667


long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices at december 31 , 2013 included the following : ( in millions ) maturity amount unamortized discount carrying value fair value .

long-term borrowings at december 31 , 2012 had a carrying value of $ 5.687 billion and a fair value of $ 6.275 billion determined using market prices at the end of december 2012 .

in may 2012 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .

these notes were issued as two separate series of senior debt securities including $ 750 million of 1.375% ( 1.375 % ) notes maturing in june 2015 ( the 201c2015 notes 201d ) and $ 750 million of 3.375% ( 3.375 % ) notes maturing in june 2022 ( the 201c2022 notes 201d ) .

net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes .

interest on the 2015 notes and the 2022 notes of approximately $ 10 million and $ 25 million per year , respectively , is payable semi-annually on june 1 and december 1 of each year , which commenced december 1 , 2012 .

the 2015 notes and 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .

the 201cmake-whole 201d redemption price represents a price , subject to the specific terms of the 2015 and 2022 notes and related indenture , that is the greater of ( a ) par value and ( b ) the present value of future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a comparable treasury security .

the 2015 notes and 2022 notes were issued at a discount of $ 5 million that is being amortized over the term of the notes .

the company incurred approximately $ 7 million of debt issuance costs , which are being amortized over the respective terms of the 2015 notes and 2022 notes .

at december 31 , 2013 , $ 5 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .

in may 2011 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .

these notes were issued as two separate series of senior debt securities including $ 750 million of 4.25% ( 4.25 % ) notes maturing in may 2021 and $ 750 million of floating rate notes ( 201c2013 floating rate notes 201d ) , which were repaid in may 2013 at maturity .

net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co. , inc .

interest on the 4.25% ( 4.25 % ) notes due in 2021 ( 201c2021 notes 201d ) is payable semi-annually on may 24 and november 24 of each year , which commenced november 24 , 2011 , and is approximately $ 32 million per year .

the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .

the 2021 notes were issued at a discount of $ 4 million that is being amortized over the term of the notes .

the company incurred approximately $ 7 million of debt issuance costs for the $ 1.5 billion note issuances , which are being amortized over the respective terms of the notes .

at december 31 , 2013 , $ 3 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .

in may 2011 , in conjunction with the issuance of the 2013 floating rate notes , the company entered into a $ 750 million notional interest rate swap maturing in 2013 to hedge the future cash flows of its obligation at a fixed rate of 1.03% ( 1.03 % ) .

during the second quarter of 2013 , the interest rate swap matured and the 2013 floating rate notes were fully repaid .

in december 2009 , the company issued $ 2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations .

these notes were issued as three separate series of senior debt securities including $ 0.5 billion of 2.25% ( 2.25 % ) notes , which were repaid in december 2012 , $ 1.0 billion of 3.50% ( 3.50 % ) notes and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2014 and 2019 , respectively .

net proceeds of this offering were used to repay borrowings under the cp program , which was used to finance a portion of the acquisition of barclays global investors ( 201cbgi 201d ) from barclays on december 1 , 2009 ( the 201cbgi transaction 201d ) , and for general corporate purposes .

interest on the 2014 notes and 2019 notes of approximately $ 35 million and $ 50 million per year , respectively , is payable semi-annually in arrears on june 10 and december 10 of each year .

these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .

these notes were issued collectively at a discount of $ 5 million , which is being amortized over the respective terms of the notes .

the company incurred approximately $ 13 million of debt issuance costs , which are being amortized over the respective terms of these notes .

at december 31 , 2013 , $ 4 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .

in september 2007 , the company issued $ 700 million in aggregate principal amount of 6.25% ( 6.25 % ) senior unsecured and unsubordinated notes maturing on september 15 , 2017 ( the 201c2017 notes 201d ) .

a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund of funds business of quellos and the remainder was used for general corporate purposes .

interest is payable semi-annually in arrears on march 15 and september 15 of each year , or approximately $ 44 million per year .

Question: what is the difference between the fair and the carrying value of all notes?

Answer: 345.0


long-term borrowings at december 31 , 2012 had a carrying value of $ 5.687 billion and a fair value of $ 6.275 billion determined using market prices at the end of december 2012 .

in may 2012 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .

these notes were issued as two separate series of senior debt securities including $ 750 million of 1.375% ( 1.375 % ) notes maturing in june 2015 ( the 201c2015 notes 201d ) and $ 750 million of 3.375% ( 3.375 % ) notes maturing in june 2022 ( the 201c2022 notes 201d ) .

net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes .

interest on the 2015 notes and the 2022 notes of approximately $ 10 million and $ 25 million per year , respectively , is payable semi-annually on june 1 and december 1 of each year , which commenced december 1 , 2012 .

the 2015 notes and 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .

the 201cmake-whole 201d redemption price represents a price , subject to the specific terms of the 2015 and 2022 notes and related indenture , that is the greater of ( a ) par value and ( b ) the present value of future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a comparable treasury security .

the 2015 notes and 2022 notes were issued at a discount of $ 5 million that is being amortized over the term of the notes .

the company incurred approximately $ 7 million of debt issuance costs , which are being amortized over the respective terms of the 2015 notes and 2022 notes .

at december 31 , 2013 , $ 5 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .

in may 2011 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .

these notes were issued as two separate series of senior debt securities including $ 750 million of 4.25% ( 4.25 % ) notes maturing in may 2021 and $ 750 million of floating rate notes ( 201c2013 floating rate notes 201d ) , which were repaid in may 2013 at maturity .

net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co. , inc .

interest on the 4.25% ( 4.25 % ) notes due in 2021 ( 201c2021 notes 201d ) is payable semi-annually on may 24 and november 24 of each year , which commenced november 24 , 2011 , and is approximately $ 32 million per year .

the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .

the 2021 notes were issued at a discount of $ 4 million that is being amortized over the term of the notes .

the company incurred approximately $ 7 million of debt issuance costs for the $ 1.5 billion note issuances , which are being amortized over the respective terms of the notes .

at december 31 , 2013 , $ 3 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .

in may 2011 , in conjunction with the issuance of the 2013 floating rate notes , the company entered into a $ 750 million notional interest rate swap maturing in 2013 to hedge the future cash flows of its obligation at a fixed rate of 1.03% ( 1.03 % ) .

during the second quarter of 2013 , the interest rate swap matured and the 2013 floating rate notes were fully repaid .

in december 2009 , the company issued $ 2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations .

these notes were issued as three separate series of senior debt securities including $ 0.5 billion of 2.25% ( 2.25 % ) notes , which were repaid in december 2012 , $ 1.0 billion of 3.50% ( 3.50 % ) notes and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2014 and 2019 , respectively .

net proceeds of this offering were used to repay borrowings under the cp program , which was used to finance a portion of the acquisition of barclays global investors ( 201cbgi 201d ) from barclays on december 1 , 2009 ( the 201cbgi transaction 201d ) , and for general corporate purposes .

interest on the 2014 notes and 2019 notes of approximately $ 35 million and $ 50 million per year , respectively , is payable semi-annually in arrears on june 10 and december 10 of each year .

these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .

these notes were issued collectively at a discount of $ 5 million , which is being amortized over the respective terms of the notes .

the company incurred approximately $ 13 million of debt issuance costs , which are being amortized over the respective terms of these notes .

at december 31 , 2013 , $ 4 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .

in september 2007 , the company issued $ 700 million in aggregate principal amount of 6.25% ( 6.25 % ) senior unsecured and unsubordinated notes maturing on september 15 , 2017 ( the 201c2017 notes 201d ) .

a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund of funds business of quellos and the remainder was used for general corporate purposes .

interest is payable semi-annually in arrears on march 15 and september 15 of each year , or approximately $ 44 million per year .

what is the difference between the fair and the carrying value of all notes?

Question: and what was that carrying value for only the notes due in 2014?

Answer: 1000.0


long-term borrowings at december 31 , 2012 had a carrying value of $ 5.687 billion and a fair value of $ 6.275 billion determined using market prices at the end of december 2012 .

in may 2012 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .

these notes were issued as two separate series of senior debt securities including $ 750 million of 1.375% ( 1.375 % ) notes maturing in june 2015 ( the 201c2015 notes 201d ) and $ 750 million of 3.375% ( 3.375 % ) notes maturing in june 2022 ( the 201c2022 notes 201d ) .

net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes .

interest on the 2015 notes and the 2022 notes of approximately $ 10 million and $ 25 million per year , respectively , is payable semi-annually on june 1 and december 1 of each year , which commenced december 1 , 2012 .

the 2015 notes and 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .

the 201cmake-whole 201d redemption price represents a price , subject to the specific terms of the 2015 and 2022 notes and related indenture , that is the greater of ( a ) par value and ( b ) the present value of future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a comparable treasury security .

the 2015 notes and 2022 notes were issued at a discount of $ 5 million that is being amortized over the term of the notes .

the company incurred approximately $ 7 million of debt issuance costs , which are being amortized over the respective terms of the 2015 notes and 2022 notes .

at december 31 , 2013 , $ 5 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .

in may 2011 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .

these notes were issued as two separate series of senior debt securities including $ 750 million of 4.25% ( 4.25 % ) notes maturing in may 2021 and $ 750 million of floating rate notes ( 201c2013 floating rate notes 201d ) , which were repaid in may 2013 at maturity .

net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co. , inc .

interest on the 4.25% ( 4.25 % ) notes due in 2021 ( 201c2021 notes 201d ) is payable semi-annually on may 24 and november 24 of each year , which commenced november 24 , 2011 , and is approximately $ 32 million per year .

the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .

the 2021 notes were issued at a discount of $ 4 million that is being amortized over the term of the notes .

the company incurred approximately $ 7 million of debt issuance costs for the $ 1.5 billion note issuances , which are being amortized over the respective terms of the notes .

at december 31 , 2013 , $ 3 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .

in may 2011 , in conjunction with the issuance of the 2013 floating rate notes , the company entered into a $ 750 million notional interest rate swap maturing in 2013 to hedge the future cash flows of its obligation at a fixed rate of 1.03% ( 1.03 % ) .

during the second quarter of 2013 , the interest rate swap matured and the 2013 floating rate notes were fully repaid .

in december 2009 , the company issued $ 2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations .

these notes were issued as three separate series of senior debt securities including $ 0.5 billion of 2.25% ( 2.25 % ) notes , which were repaid in december 2012 , $ 1.0 billion of 3.50% ( 3.50 % ) notes and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2014 and 2019 , respectively .

net proceeds of this offering were used to repay borrowings under the cp program , which was used to finance a portion of the acquisition of barclays global investors ( 201cbgi 201d ) from barclays on december 1 , 2009 ( the 201cbgi transaction 201d ) , and for general corporate purposes .

interest on the 2014 notes and 2019 notes of approximately $ 35 million and $ 50 million per year , respectively , is payable semi-annually in arrears on june 10 and december 10 of each year .

these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .

these notes were issued collectively at a discount of $ 5 million , which is being amortized over the respective terms of the notes .

the company incurred approximately $ 13 million of debt issuance costs , which are being amortized over the respective terms of these notes .

at december 31 , 2013 , $ 4 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .

in september 2007 , the company issued $ 700 million in aggregate principal amount of 6.25% ( 6.25 % ) senior unsecured and unsubordinated notes maturing on september 15 , 2017 ( the 201c2017 notes 201d ) .

a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund of funds business of quellos and the remainder was used for general corporate purposes .

interest is payable semi-annually in arrears on march 15 and september 15 of each year , or approximately $ 44 million per year .

and what was that carrying value for only the notes due in 2014?

Question: what was it for 2015?

Answer: 750.0


long-term borrowings at december 31 , 2012 had a carrying value of $ 5.687 billion and a fair value of $ 6.275 billion determined using market prices at the end of december 2012 .

in may 2012 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .

these notes were issued as two separate series of senior debt securities including $ 750 million of 1.375% ( 1.375 % ) notes maturing in june 2015 ( the 201c2015 notes 201d ) and $ 750 million of 3.375% ( 3.375 % ) notes maturing in june 2022 ( the 201c2022 notes 201d ) .

net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes .

interest on the 2015 notes and the 2022 notes of approximately $ 10 million and $ 25 million per year , respectively , is payable semi-annually on june 1 and december 1 of each year , which commenced december 1 , 2012 .

the 2015 notes and 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .

the 201cmake-whole 201d redemption price represents a price , subject to the specific terms of the 2015 and 2022 notes and related indenture , that is the greater of ( a ) par value and ( b ) the present value of future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a comparable treasury security .

the 2015 notes and 2022 notes were issued at a discount of $ 5 million that is being amortized over the term of the notes .

the company incurred approximately $ 7 million of debt issuance costs , which are being amortized over the respective terms of the 2015 notes and 2022 notes .

at december 31 , 2013 , $ 5 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .

in may 2011 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .

these notes were issued as two separate series of senior debt securities including $ 750 million of 4.25% ( 4.25 % ) notes maturing in may 2021 and $ 750 million of floating rate notes ( 201c2013 floating rate notes 201d ) , which were repaid in may 2013 at maturity .

net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co. , inc .

interest on the 4.25% ( 4.25 % ) notes due in 2021 ( 201c2021 notes 201d ) is payable semi-annually on may 24 and november 24 of each year , which commenced november 24 , 2011 , and is approximately $ 32 million per year .

the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .

the 2021 notes were issued at a discount of $ 4 million that is being amortized over the term of the notes .

the company incurred approximately $ 7 million of debt issuance costs for the $ 1.5 billion note issuances , which are being amortized over the respective terms of the notes .

at december 31 , 2013 , $ 3 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .

in may 2011 , in conjunction with the issuance of the 2013 floating rate notes , the company entered into a $ 750 million notional interest rate swap maturing in 2013 to hedge the future cash flows of its obligation at a fixed rate of 1.03% ( 1.03 % ) .

during the second quarter of 2013 , the interest rate swap matured and the 2013 floating rate notes were fully repaid .

in december 2009 , the company issued $ 2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations .

these notes were issued as three separate series of senior debt securities including $ 0.5 billion of 2.25% ( 2.25 % ) notes , which were repaid in december 2012 , $ 1.0 billion of 3.50% ( 3.50 % ) notes and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2014 and 2019 , respectively .

net proceeds of this offering were used to repay borrowings under the cp program , which was used to finance a portion of the acquisition of barclays global investors ( 201cbgi 201d ) from barclays on december 1 , 2009 ( the 201cbgi transaction 201d ) , and for general corporate purposes .

interest on the 2014 notes and 2019 notes of approximately $ 35 million and $ 50 million per year , respectively , is payable semi-annually in arrears on june 10 and december 10 of each year .

these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .

these notes were issued collectively at a discount of $ 5 million , which is being amortized over the respective terms of the notes .

the company incurred approximately $ 13 million of debt issuance costs , which are being amortized over the respective terms of these notes .

at december 31 , 2013 , $ 4 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .

in september 2007 , the company issued $ 700 million in aggregate principal amount of 6.25% ( 6.25 % ) senior unsecured and unsubordinated notes maturing on september 15 , 2017 ( the 201c2017 notes 201d ) .

a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund of funds business of quellos and the remainder was used for general corporate purposes .

interest is payable semi-annually in arrears on march 15 and september 15 of each year , or approximately $ 44 million per year .

Question: what was, then, the total carrying value for both years?

Answer: 1750.0


long-term borrowings at december 31 , 2012 had a carrying value of $ 5.687 billion and a fair value of $ 6.275 billion determined using market prices at the end of december 2012 .

in may 2012 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .

these notes were issued as two separate series of senior debt securities including $ 750 million of 1.375% ( 1.375 % ) notes maturing in june 2015 ( the 201c2015 notes 201d ) and $ 750 million of 3.375% ( 3.375 % ) notes maturing in june 2022 ( the 201c2022 notes 201d ) .

net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes .

interest on the 2015 notes and the 2022 notes of approximately $ 10 million and $ 25 million per year , respectively , is payable semi-annually on june 1 and december 1 of each year , which commenced december 1 , 2012 .

the 2015 notes and 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .

the 201cmake-whole 201d redemption price represents a price , subject to the specific terms of the 2015 and 2022 notes and related indenture , that is the greater of ( a ) par value and ( b ) the present value of future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a comparable treasury security .

the 2015 notes and 2022 notes were issued at a discount of $ 5 million that is being amortized over the term of the notes .

the company incurred approximately $ 7 million of debt issuance costs , which are being amortized over the respective terms of the 2015 notes and 2022 notes .

at december 31 , 2013 , $ 5 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .

in may 2011 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations .

these notes were issued as two separate series of senior debt securities including $ 750 million of 4.25% ( 4.25 % ) notes maturing in may 2021 and $ 750 million of floating rate notes ( 201c2013 floating rate notes 201d ) , which were repaid in may 2013 at maturity .

net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co. , inc .

interest on the 4.25% ( 4.25 % ) notes due in 2021 ( 201c2021 notes 201d ) is payable semi-annually on may 24 and november 24 of each year , which commenced november 24 , 2011 , and is approximately $ 32 million per year .

the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .

the 2021 notes were issued at a discount of $ 4 million that is being amortized over the term of the notes .

the company incurred approximately $ 7 million of debt issuance costs for the $ 1.5 billion note issuances , which are being amortized over the respective terms of the notes .

at december 31 , 2013 , $ 3 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .

in may 2011 , in conjunction with the issuance of the 2013 floating rate notes , the company entered into a $ 750 million notional interest rate swap maturing in 2013 to hedge the future cash flows of its obligation at a fixed rate of 1.03% ( 1.03 % ) .

during the second quarter of 2013 , the interest rate swap matured and the 2013 floating rate notes were fully repaid .

in december 2009 , the company issued $ 2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations .

these notes were issued as three separate series of senior debt securities including $ 0.5 billion of 2.25% ( 2.25 % ) notes , which were repaid in december 2012 , $ 1.0 billion of 3.50% ( 3.50 % ) notes and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2014 and 2019 , respectively .

net proceeds of this offering were used to repay borrowings under the cp program , which was used to finance a portion of the acquisition of barclays global investors ( 201cbgi 201d ) from barclays on december 1 , 2009 ( the 201cbgi transaction 201d ) , and for general corporate purposes .

interest on the 2014 notes and 2019 notes of approximately $ 35 million and $ 50 million per year , respectively , is payable semi-annually in arrears on june 10 and december 10 of each year .

these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price .

these notes were issued collectively at a discount of $ 5 million , which is being amortized over the respective terms of the notes .

the company incurred approximately $ 13 million of debt issuance costs , which are being amortized over the respective terms of these notes .

at december 31 , 2013 , $ 4 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition .

in september 2007 , the company issued $ 700 million in aggregate principal amount of 6.25% ( 6.25 % ) senior unsecured and unsubordinated notes maturing on september 15 , 2017 ( the 201c2017 notes 201d ) .

a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund of funds business of quellos and the remainder was used for general corporate purposes .

interest is payable semi-annually in arrears on march 15 and september 15 of each year , or approximately $ 44 million per year .

what was, then, the total carrying value for both years?

Question: and including the 2017 notes, what becomes this total?

Answer: 2448.0


performance graph the graph below compares the cumulative total shareholder return on pmi's common stock with the cumulative total return for the same period of pmi's peer group and the s&p 500 index .

the graph assumes the investment of $ 100 as of december 31 , 2013 , in pmi common stock ( at prices quoted on the new york stock exchange ) and each of the indices as of the market close and reinvestment of dividends on a quarterly basis .

date pmi pmi peer group ( 1 ) s&p 500 index .

( 1 ) the pmi peer group presented in this graph is the same as that used in the prior year .

the pmi peer group was established based on a review of four characteristics : global presence ; a focus on consumer products ; and net revenues and a market capitalization of a similar size to those of pmi .

the review also considered the primary international tobacco companies .

as a result of this review , the following companies constitute the pmi peer group : altria group , inc. , anheuser-busch inbev sa/nv , british american tobacco p.l.c. , the coca-cola company , colgate-palmolive co. , diageo plc , heineken n.v. , imperial brands plc , japan tobacco inc. , johnson & johnson , kimberly-clark corporation , the kraft-heinz company , mcdonald's corp. , mondel z international , inc. , nestl e9 s.a. , pepsico , inc. , the procter & gamble company , roche holding ag , and unilever nv and plc .

note : figures are rounded to the nearest $ 0.10. .

Question: what is the price of pmi in 2014?

Answer: 97.9


Question: what is the price of pmi in 2014 less 100?

Answer: -2.1


what is the price of pmi in 2014 less 100?

Question: what is the percent change?

Answer: -0.021


supplementary information on oil and gas producing activities ( unaudited ) 2017 proved reserves decreased by 647 mmboe primarily due to the following : 2022 revisions of previous estimates : increased by 49 mmboe primarily due to the acceleration of higher economic wells in the bakken into the 5-year plan resulting in an increase of 44 mmboe , with the remainder being due to revisions across the business .

2022 extensions , discoveries , and other additions : increased by 116 mmboe primarily due to an increase of 97 mmboe associated with the expansion of proved areas and wells to sales from unproved categories in oklahoma .

2022 purchases of reserves in place : increased by 28 mmboe from acquisitions of assets in the northern delaware basin in new mexico .

2022 production : decreased by 145 mmboe .

2022 sales of reserves in place : decreased by 695 mmboe including 685 mmboe associated with the sale of our canadian business and 10 mmboe associated with divestitures of certain conventional assets in oklahoma and colorado .

financial statements and supplementary data - note 5 to the consolidated financial statements for information regarding these dispositions .

2016 proved reserves decreased by 67 mmboe primarily due to the following : 2022 revisions of previous estimates : increased by 63 mmboe primarily due to an increase of 151 mmboe associated with the acceleration of higher economic wells in the u.s .

resource plays into the 5-year plan and a decrease of 64 mmboe due to u.s .

2022 extensions , discoveries , and other additions : increased by 60 mmboe primarily associated with the expansion of proved areas and new wells to sales from unproven categories in oklahoma .

2022 purchases of reserves in place : increased by 34 mmboe from acquisition of stack assets in oklahoma .

2022 production : decreased by 144 mmboe .

2022 sales of reserves in place : decreased by 84 mmboe associated with the divestitures of certain wyoming and gulf of mexico assets .

2015 proved reserves decreased by 35 mmboe primarily due to the following : 2022 revisions of previous estimates : decreased by 2 mmboe primarily resulting from an increase of 105 mmboe associated with drilling programs in u.s .

resource plays and an increase of 67 mmboe in discontinued operations due to technical reevaluation and lower royalty percentages related to lower realized prices , offset by a decrease of 173 mmboe which was largely due to reductions to our capital development program and adherence to the sec 5-year rule .

2022 extensions , discoveries , and other additions : increased by140 mmboe as a result of drilling programs in our u.s .

2022 production : decreased by 157 mmboe .

conventional assets sales contributed to a decrease of 18 mmboe .

changes in proved undeveloped reserves as of december 31 , 2017 , 546 mmboe of proved undeveloped reserves were reported , a decrease of 6 mmboe from december 31 , 2016 .

the following table shows changes in proved undeveloped reserves for 2017 : ( mmboe ) .

revisions of prior estimates increased 5 mmboe during 2017 , primarily due to a 44 mmboe increase in the bakken from an acceleration of higher economic wells into the 5-year plan , offset by a decrease of 40 mmboe in oklahoma due to the removal of less economic wells from the 5-year plan .

extensions , discoveries and other additions .

increased 57 mmboe through expansion of proved areas in oklahoma. .

1	beginning of year	552

2	revisions of previous estimates	5

3	improved recovery	2014

4	purchases of reserves in place	15

5	extensions discoveries and other additions	57

6	dispositions	2014

7	transfers to proved developed	-83 ( 83 )

8	end of year	546

Question: what was the impact in mmboe resulting from an increase in drilling programs in the us resource plays and an increase in discontinued operations due to technical reevaluation and lower royalty percentages related to lower realized prices?

Answer: 172.0


supplementary information on oil and gas producing activities ( unaudited ) 2017 proved reserves decreased by 647 mmboe primarily due to the following : 2022 revisions of previous estimates : increased by 49 mmboe primarily due to the acceleration of higher economic wells in the bakken into the 5-year plan resulting in an increase of 44 mmboe , with the remainder being due to revisions across the business .

2022 extensions , discoveries , and other additions : increased by 116 mmboe primarily due to an increase of 97 mmboe associated with the expansion of proved areas and wells to sales from unproved categories in oklahoma .

2022 purchases of reserves in place : increased by 28 mmboe from acquisitions of assets in the northern delaware basin in new mexico .

2022 production : decreased by 145 mmboe .

2022 sales of reserves in place : decreased by 695 mmboe including 685 mmboe associated with the sale of our canadian business and 10 mmboe associated with divestitures of certain conventional assets in oklahoma and colorado .

financial statements and supplementary data - note 5 to the consolidated financial statements for information regarding these dispositions .

2016 proved reserves decreased by 67 mmboe primarily due to the following : 2022 revisions of previous estimates : increased by 63 mmboe primarily due to an increase of 151 mmboe associated with the acceleration of higher economic wells in the u.s .

resource plays into the 5-year plan and a decrease of 64 mmboe due to u.s .

2022 extensions , discoveries , and other additions : increased by 60 mmboe primarily associated with the expansion of proved areas and new wells to sales from unproven categories in oklahoma .

2022 purchases of reserves in place : increased by 34 mmboe from acquisition of stack assets in oklahoma .

2022 production : decreased by 144 mmboe .

2022 sales of reserves in place : decreased by 84 mmboe associated with the divestitures of certain wyoming and gulf of mexico assets .

2015 proved reserves decreased by 35 mmboe primarily due to the following : 2022 revisions of previous estimates : decreased by 2 mmboe primarily resulting from an increase of 105 mmboe associated with drilling programs in u.s .

resource plays and an increase of 67 mmboe in discontinued operations due to technical reevaluation and lower royalty percentages related to lower realized prices , offset by a decrease of 173 mmboe which was largely due to reductions to our capital development program and adherence to the sec 5-year rule .

2022 extensions , discoveries , and other additions : increased by140 mmboe as a result of drilling programs in our u.s .

2022 production : decreased by 157 mmboe .

conventional assets sales contributed to a decrease of 18 mmboe .

changes in proved undeveloped reserves as of december 31 , 2017 , 546 mmboe of proved undeveloped reserves were reported , a decrease of 6 mmboe from december 31 , 2016 .

the following table shows changes in proved undeveloped reserves for 2017 : ( mmboe ) .

what was the impact in mmboe resulting from an increase in drilling programs in the us resource plays and an increase in discontinued operations due to technical reevaluation and lower royalty percentages related to lower realized prices?

Question: what was the purchases of reserves in place in 2016?

Answer: -13.0


investment advisory revenues earned on the other investment portfolios that we manage decreased $ 44 million , or 8.5% ( 8.5 % ) , to $ 477.8 million in 2009 .

average assets in these portfolios were $ 129.5 billion during 2009 , down $ 12.6 billion or 9% ( 9 % ) from 2008 .

other investment portfolio assets under management increased $ 46.7 billion during 2009 , including $ 36.5 billion in market gains and income and $ 10.2 billion of net inflows , primarily from institutional investors .

net inflows include $ 1.3 billion transferred from the stock and blended asset mutual funds during 2009 .

administrative fees decreased $ 35 million , or 10% ( 10 % ) , to $ 319 million in 2009 .

this change includes a $ 4 million decrease in 12b-1 distribution and service fees recognized on lower average assets under management in the advisor and r classes of our sponsored mutual funds and a $ 31 million reduction in our mutual fund servicing revenue , which is primarily attributable to our cost reduction efforts in the mutual fund and retirement plan servicing functions .

changes in administrative fees are generally offset by similar changes in related operating expenses that are incurred to provide services to the funds and their investors .

our largest expense , compensation and related costs , decreased $ 42 million , or 5% ( 5 % ) , from 2008 to $ 773 million in 2009 .

the largest part of this decrease is attributable to a $ 19 million reduction in our annual bonus program .

reductions in the use of outside contractors lowered 2009 costs $ 14 million with the remainder of the cost savings primarily attributable to the workforce reduction and lower employee benefits and other employment expenses .

average headcount in 2009 was down 5.4% ( 5.4 % ) from 2008 due to attrition , retirements and our workforce reduction in april 2009 .

advertising and promotion expenditures were down $ 31 million , or 30% ( 30 % ) , versus 2008 due to our decision to reduce spending in response to lower investor activity in the 2009 market environment .

depreciation expense and other occupancy and facility costs together increased $ 4 million , or 2.5% ( 2.5 % ) compared to 2008 , as we moderated or delayed our capital spending and facility growth plans .

other operating expenses decreased $ 33 million , or 18% ( 18 % ) from 2008 , including a decline of $ 4 million in distribution and service expenses recognized on lower average assets under management in our advisor and r classes of mutual fund shares that are sourced from financial intermediaries .

our cost control efforts resulted in the remaining expense reductions , including lower professional fees and travel and related costs .

our non-operating investment activity resulted in net losses of $ 12.7 million in 2009 and $ 52.3 million in 2008 .

the improvement of nearly $ 40 million is primarily attributable to a reduction in the other than temporary impairments recognized on our investments in sponsored mutual funds in 2009 versus 2008 .

the following table details our related mutual fund investment gains and losses ( in millions ) during the two years ended december 31 , 2009. .

lower income of $ 16 million from our money market holdings due to the significantly lower interest rate environment offset the improvement experienced with our fund investments .

the 2009 provision for income taxes as a percentage of pretax income is 37.1% ( 37.1 % ) , down from 38.4% ( 38.4 % ) in 2008 .

our 2009 provision includes reductions of prior years 2019 tax provisions and discrete nonrecurring benefits that lowered our 2009 effective tax rate by 1.0% ( 1.0 % ) .

c a p i t a l r e s o u r c e s a n d l i q u i d i t y .

during 2010 , stockholders 2019 equity increased from $ 2.9 billion to $ 3.3 billion .

we repurchased nearly 5.0 million common shares for $ 240.0 million in 2010 .

tangible book value is $ 2.6 billion at december 31 , 2010 , and our cash and cash equivalents and our mutual fund investment holdings total more than $ 1.5 billion .

given the availability of these financial resources , we do not maintain an available external source of liquidity .

1		2008	2009	change

2	other than temporary impairments recognized	$ -91.3 ( 91.3 )	$ -36.1 ( 36.1 )	$ 55.2

3	capital gain distributions received	5.6	2.0	-3.6 ( 3.6 )

4	net gain ( loss ) realized on fund dispositions	-4.5 ( 4.5 )	7.4	11.9

5	net loss recognized on fund holdings	$ -90.2 ( 90.2 )	$ -26.7 ( 26.7 )	$ 63.5

Question: what was the change in capital gain distributions from 2008 to 2009?

Answer: -2.7


investment advisory revenues earned on the other investment portfolios that we manage decreased $ 44 million , or 8.5% ( 8.5 % ) , to $ 477.8 million in 2009 .

average assets in these portfolios were $ 129.5 billion during 2009 , down $ 12.6 billion or 9% ( 9 % ) from 2008 .

other investment portfolio assets under management increased $ 46.7 billion during 2009 , including $ 36.5 billion in market gains and income and $ 10.2 billion of net inflows , primarily from institutional investors .

net inflows include $ 1.3 billion transferred from the stock and blended asset mutual funds during 2009 .

administrative fees decreased $ 35 million , or 10% ( 10 % ) , to $ 319 million in 2009 .

this change includes a $ 4 million decrease in 12b-1 distribution and service fees recognized on lower average assets under management in the advisor and r classes of our sponsored mutual funds and a $ 31 million reduction in our mutual fund servicing revenue , which is primarily attributable to our cost reduction efforts in the mutual fund and retirement plan servicing functions .

changes in administrative fees are generally offset by similar changes in related operating expenses that are incurred to provide services to the funds and their investors .

our largest expense , compensation and related costs , decreased $ 42 million , or 5% ( 5 % ) , from 2008 to $ 773 million in 2009 .

the largest part of this decrease is attributable to a $ 19 million reduction in our annual bonus program .

reductions in the use of outside contractors lowered 2009 costs $ 14 million with the remainder of the cost savings primarily attributable to the workforce reduction and lower employee benefits and other employment expenses .

average headcount in 2009 was down 5.4% ( 5.4 % ) from 2008 due to attrition , retirements and our workforce reduction in april 2009 .

advertising and promotion expenditures were down $ 31 million , or 30% ( 30 % ) , versus 2008 due to our decision to reduce spending in response to lower investor activity in the 2009 market environment .

depreciation expense and other occupancy and facility costs together increased $ 4 million , or 2.5% ( 2.5 % ) compared to 2008 , as we moderated or delayed our capital spending and facility growth plans .

other operating expenses decreased $ 33 million , or 18% ( 18 % ) from 2008 , including a decline of $ 4 million in distribution and service expenses recognized on lower average assets under management in our advisor and r classes of mutual fund shares that are sourced from financial intermediaries .

our cost control efforts resulted in the remaining expense reductions , including lower professional fees and travel and related costs .

our non-operating investment activity resulted in net losses of $ 12.7 million in 2009 and $ 52.3 million in 2008 .

the improvement of nearly $ 40 million is primarily attributable to a reduction in the other than temporary impairments recognized on our investments in sponsored mutual funds in 2009 versus 2008 .

the following table details our related mutual fund investment gains and losses ( in millions ) during the two years ended december 31 , 2009. .

what was the change in capital gain distributions from 2008 to 2009?

Question: and what were those capital gain distributions in 2008?

Answer: 5.6


investment advisory revenues earned on the other investment portfolios that we manage decreased $ 44 million , or 8.5% ( 8.5 % ) , to $ 477.8 million in 2009 .

average assets in these portfolios were $ 129.5 billion during 2009 , down $ 12.6 billion or 9% ( 9 % ) from 2008 .

other investment portfolio assets under management increased $ 46.7 billion during 2009 , including $ 36.5 billion in market gains and income and $ 10.2 billion of net inflows , primarily from institutional investors .

net inflows include $ 1.3 billion transferred from the stock and blended asset mutual funds during 2009 .

administrative fees decreased $ 35 million , or 10% ( 10 % ) , to $ 319 million in 2009 .

this change includes a $ 4 million decrease in 12b-1 distribution and service fees recognized on lower average assets under management in the advisor and r classes of our sponsored mutual funds and a $ 31 million reduction in our mutual fund servicing revenue , which is primarily attributable to our cost reduction efforts in the mutual fund and retirement plan servicing functions .

changes in administrative fees are generally offset by similar changes in related operating expenses that are incurred to provide services to the funds and their investors .

our largest expense , compensation and related costs , decreased $ 42 million , or 5% ( 5 % ) , from 2008 to $ 773 million in 2009 .

the largest part of this decrease is attributable to a $ 19 million reduction in our annual bonus program .

reductions in the use of outside contractors lowered 2009 costs $ 14 million with the remainder of the cost savings primarily attributable to the workforce reduction and lower employee benefits and other employment expenses .

average headcount in 2009 was down 5.4% ( 5.4 % ) from 2008 due to attrition , retirements and our workforce reduction in april 2009 .

advertising and promotion expenditures were down $ 31 million , or 30% ( 30 % ) , versus 2008 due to our decision to reduce spending in response to lower investor activity in the 2009 market environment .

depreciation expense and other occupancy and facility costs together increased $ 4 million , or 2.5% ( 2.5 % ) compared to 2008 , as we moderated or delayed our capital spending and facility growth plans .

other operating expenses decreased $ 33 million , or 18% ( 18 % ) from 2008 , including a decline of $ 4 million in distribution and service expenses recognized on lower average assets under management in our advisor and r classes of mutual fund shares that are sourced from financial intermediaries .

our cost control efforts resulted in the remaining expense reductions , including lower professional fees and travel and related costs .

our non-operating investment activity resulted in net losses of $ 12.7 million in 2009 and $ 52.3 million in 2008 .

the improvement of nearly $ 40 million is primarily attributable to a reduction in the other than temporary impairments recognized on our investments in sponsored mutual funds in 2009 versus 2008 .

the following table details our related mutual fund investment gains and losses ( in millions ) during the two years ended december 31 , 2009. .

and what were those capital gain distributions in 2008?

Question: how much, then, does that change represent in relation to these 2008 distributions, in percentage?

Answer: -0.48214


amortized over a nine-year period beginning december 2015 .

see note 2 to the financial statements for further discussion of the business combination and customer credits .

the volume/weather variance is primarily due to the effect of more favorable weather during the unbilled period and an increase in industrial usage , partially offset by the effect of less favorable weather on residential sales .

the increase in industrial usage is primarily due to expansion projects , primarily in the chemicals industry , and increased demand from new customers , primarily in the industrial gases industry .

the louisiana act 55 financing savings obligation variance results from a regulatory charge for tax savings to be shared with customers per an agreement approved by the lpsc .

the tax savings resulted from the 2010-2011 irs audit settlement on the treatment of the louisiana act 55 financing of storm costs for hurricane gustav and hurricane ike .

see note 3 to the financial statements for additional discussion of the settlement and benefit sharing .

included in other is a provision of $ 23 million recorded in 2016 related to the settlement of the waterford 3 replacement steam generator prudence review proceeding , offset by a provision of $ 32 million recorded in 2015 related to the uncertainty at that time associated with the resolution of the waterford 3 replacement steam generator prudence review proceeding . a0 see note 2 to the financial statements for a discussion of the waterford 3 replacement steam generator prudence review proceeding .

entergy wholesale commodities following is an analysis of the change in net revenue comparing 2016 to 2015 .

as shown in the table above , net revenue for entergy wholesale commodities decreased by approximately $ 124 million in 2016 primarily due to : 2022 lower realized wholesale energy prices and lower capacity prices , the amortization of the palisades below- market ppa , and vermont yankee capacity revenue .

the effect of the amortization of the palisades below- market ppa and vermont yankee capacity revenue on the net revenue variance from 2015 to 2016 is minimal ; 2022 the sale of the rhode island state energy center in december 2015 .

see note 14 to the financial statements for further discussion of the rhode island state energy center sale ; and 2022 lower volume in the entergy wholesale commodities nuclear fleet resulting from more refueling outage days in 2016 as compared to 2015 and larger exercise of resupply options in 2016 as compared to 2015 .

see 201cnuclear matters - indian point 201d below for discussion of the extended indian point 2 outage in the second quarter entergy corporation and subsidiaries management 2019s financial discussion and analysis .

1		amount ( in millions )

2	2015 net revenue	$ 1666

3	nuclear realized price changes	-149 ( 149 )

4	rhode island state energy center	-44 ( 44 )

5	nuclear volume	-36 ( 36 )

6	fitzpatrick reimbursement agreement	41

7	nuclear fuel expenses	68

8	other	-4 ( 4 )

9	2016 net revenue	$ 1542

Question: what was the difference in net revenue between 2015 and 2016?

Answer: 124.0


what was the difference in net revenue between 2015 and 2016?

Question: and the specific value for 2016 again?

Answer: 1542.0


Question: so what was the percentage change over these years?

Answer: 0.08042


the analysis of our depreciation studies .

changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively .

under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized .

the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies .

the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes .

because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate .

in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies .

any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets .

for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies .

a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations .

when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .

however , many of our assets are self-constructed .

a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects .

costs that are directly attributable to capital projects ( including overhead costs ) are capitalized .

direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment .

indirect costs are capitalized if they clearly relate to the construction of the asset .

general and administrative expenditures are expensed as incurred .

normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .

these costs are allocated using appropriate statistical bases .

total expense for repairs and maintenance incurred was $ 2.4 billion for 2014 , $ 2.3 billion for 2013 , and $ 2.1 billion for 2012 .

assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .

amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .

accounts payable and other current liabilities dec .

1	millions	dec . 31 2014	dec . 312013

2	accounts payable	$ 877	$ 803

3	dividends payable	438	356

4	income and other taxes payable	412	491

5	accrued wages and vacation	409	385

6	accrued casualty costs	249	207

7	interest payable	178	169

8	equipment rents payable	100	96

9	other	640	579

10	total accounts payable and othercurrent liabilities	$ 3303	$ 3086

Question: what was the total expense for repairs and maintenance incurred in 2013?

Answer: 2.3


the analysis of our depreciation studies .

changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively .

under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized .

the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies .

the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes .

because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate .

in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies .

any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets .

for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies .

a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations .

when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .

however , many of our assets are self-constructed .

a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects .

costs that are directly attributable to capital projects ( including overhead costs ) are capitalized .

direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment .

indirect costs are capitalized if they clearly relate to the construction of the asset .

general and administrative expenditures are expensed as incurred .

normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .

these costs are allocated using appropriate statistical bases .

total expense for repairs and maintenance incurred was $ 2.4 billion for 2014 , $ 2.3 billion for 2013 , and $ 2.1 billion for 2012 .

assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .

amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .

accounts payable and other current liabilities dec .

what was the total expense for repairs and maintenance incurred in 2013?

Question: and in 2012?

Answer: 2.1


the analysis of our depreciation studies .

changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively .

under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized .

the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies .

the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes .

because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate .

in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies .

any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets .

for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies .

a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations .

when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .

however , many of our assets are self-constructed .

a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects .

costs that are directly attributable to capital projects ( including overhead costs ) are capitalized .

direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment .

indirect costs are capitalized if they clearly relate to the construction of the asset .

general and administrative expenditures are expensed as incurred .

normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .

these costs are allocated using appropriate statistical bases .

total expense for repairs and maintenance incurred was $ 2.4 billion for 2014 , $ 2.3 billion for 2013 , and $ 2.1 billion for 2012 .

assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .

amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .

accounts payable and other current liabilities dec .

Question: what was the difference between the two values?

Answer: 0.2


the analysis of our depreciation studies .

changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively .

under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized .

the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies .

the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes .

because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate .

in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies .

any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets .

for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies .

a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations .

when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .

however , many of our assets are self-constructed .

a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects .

costs that are directly attributable to capital projects ( including overhead costs ) are capitalized .

direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment .

indirect costs are capitalized if they clearly relate to the construction of the asset .

general and administrative expenditures are expensed as incurred .

normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .

these costs are allocated using appropriate statistical bases .

total expense for repairs and maintenance incurred was $ 2.4 billion for 2014 , $ 2.3 billion for 2013 , and $ 2.1 billion for 2012 .

assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .

amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .

accounts payable and other current liabilities dec .

what was the difference between the two values?

Question: and the specific value for 2012 again?

Answer: 2.1


the analysis of our depreciation studies .

changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively .

under group depreciation , the historical cost ( net of salvage ) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no gain or loss is recognized .

the historical cost of certain track assets is estimated using ( i ) inflation indices published by the bureau of labor statistics and ( ii ) the estimated useful lives of the assets as determined by our depreciation studies .

the indices were selected because they closely correlate with the major costs of the properties comprising the applicable track asset classes .

because of the number of estimates inherent in the depreciation and retirement processes and because it is impossible to precisely estimate each of these variables until a group of property is completely retired , we continually monitor the estimated service lives of our assets and the accumulated depreciation associated with each asset class to ensure our depreciation rates are appropriate .

in addition , we determine if the recorded amount of accumulated depreciation is deficient ( or in excess ) of the amount indicated by our depreciation studies .

any deficiency ( or excess ) is amortized as a component of depreciation expense over the remaining service lives of the applicable classes of assets .

for retirements of depreciable railroad properties that do not occur in the normal course of business , a gain or loss may be recognized if the retirement meets each of the following three conditions : ( i ) is unusual , ( ii ) is material in amount , and ( iii ) varies significantly from the retirement profile identified through our depreciation studies .

a gain or loss is recognized in other income when we sell land or dispose of assets that are not part of our railroad operations .

when we purchase an asset , we capitalize all costs necessary to make the asset ready for its intended use .

however , many of our assets are self-constructed .

a large portion of our capital expenditures is for replacement of existing track assets and other road properties , which is typically performed by our employees , and for track line expansion and other capacity projects .

costs that are directly attributable to capital projects ( including overhead costs ) are capitalized .

direct costs that are capitalized as part of self- constructed assets include material , labor , and work equipment .

indirect costs are capitalized if they clearly relate to the construction of the asset .

general and administrative expenditures are expensed as incurred .

normal repairs and maintenance are also expensed as incurred , while costs incurred that extend the useful life of an asset , improve the safety of our operations or improve operating efficiency are capitalized .

these costs are allocated using appropriate statistical bases .

total expense for repairs and maintenance incurred was $ 2.4 billion for 2014 , $ 2.3 billion for 2013 , and $ 2.1 billion for 2012 .

assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease .

amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease .

accounts payable and other current liabilities dec .

Question: so what was the percentage change of this value?

Answer: 0.09524


backlog applied manufactures systems to meet demand represented by order backlog and customer commitments .

backlog consists of : ( 1 ) orders for which written authorizations have been accepted and assigned shipment dates are within the next 12 months , or shipment has occurred but revenue has not been recognized ; and ( 2 ) contractual service revenue and maintenance fees to be earned within the next 12 months .

backlog by reportable segment as of october 26 , 2014 and october 27 , 2013 was as follows : 2014 2013 ( in millions , except percentages ) .

applied 2019s backlog on any particular date is not necessarily indicative of actual sales for any future periods , due to the potential for customer changes in delivery schedules or cancellation of orders .

customers may delay delivery of products or cancel orders prior to shipment , subject to possible cancellation penalties .

delays in delivery schedules and/or a reduction of backlog during any particular period could have a material adverse effect on applied 2019s business and results of operations .

manufacturing , raw materials and supplies applied 2019s manufacturing activities consist primarily of assembly , test and integration of various proprietary and commercial parts , components and subassemblies ( collectively , parts ) that are used to manufacture systems .

applied has implemented a distributed manufacturing model under which manufacturing and supply chain activities are conducted in various countries , including the united states , europe , israel , singapore , taiwan , and other countries in asia , and assembly of some systems is completed at customer sites .

applied uses numerous vendors , including contract manufacturers , to supply parts and assembly services for the manufacture and support of its products .

although applied makes reasonable efforts to assure that parts are available from multiple qualified suppliers , this is not always possible .

accordingly , some key parts may be obtained from only a single supplier or a limited group of suppliers .

applied seeks to reduce costs and to lower the risks of manufacturing and service interruptions by : ( 1 ) selecting and qualifying alternate suppliers for key parts ; ( 2 ) monitoring the financial condition of key suppliers ; ( 3 ) maintaining appropriate inventories of key parts ; ( 4 ) qualifying new parts on a timely basis ; and ( 5 ) locating certain manufacturing operations in close proximity to suppliers and customers .

research , development and engineering applied 2019s long-term growth strategy requires continued development of new products , including products that enable expansion into new markets .

the company 2019s significant investment in research , development and engineering ( rd&e ) has generally enabled it to deliver new products and technologies before the emergence of strong demand , thus allowing customers to incorporate these products into their manufacturing plans at an early stage in the technology selection cycle .

applied works closely with its global customers to design systems and processes that meet their planned technical and production requirements .

product development and engineering organizations are located primarily in the united states , as well as in europe , israel , taiwan , and china .

in addition , applied outsources certain rd&e activities , some of which are performed outside the united states , primarily in india and singapore .

process support and customer demonstration laboratories are located in the united states , china , taiwan , europe , and israel .

applied 2019s investments in rd&e for product development and engineering programs to create or improve products and technologies over the last three years were as follows : $ 1.4 billion ( 16 percent of net sales ) in fiscal 2014 , $ 1.3 billion ( 18 percent of net sales ) in fiscal 2013 , and $ 1.2 billion ( 14 percent of net sales ) in fiscal 2012 .

applied has spent an average of 13 percent of net sales in rd&e over the last five years .

in addition to rd&e for specific product technologies , applied maintains ongoing programs for automation control systems , materials research , and environmental control that are applicable to its products. .

Question: what were net sales in 2014?

Answer: 0.0875


applied 2019s backlog on any particular date is not necessarily indicative of actual sales for any future periods , due to the potential for customer changes in delivery schedules or cancellation of orders .

customers may delay delivery of products or cancel orders prior to shipment , subject to possible cancellation penalties .

delays in delivery schedules and/or a reduction of backlog during any particular period could have a material adverse effect on applied 2019s business and results of operations .

manufacturing , raw materials and supplies applied 2019s manufacturing activities consist primarily of assembly , test and integration of various proprietary and commercial parts , components and subassemblies ( collectively , parts ) that are used to manufacture systems .

applied has implemented a distributed manufacturing model under which manufacturing and supply chain activities are conducted in various countries , including the united states , europe , israel , singapore , taiwan , and other countries in asia , and assembly of some systems is completed at customer sites .

applied uses numerous vendors , including contract manufacturers , to supply parts and assembly services for the manufacture and support of its products .

although applied makes reasonable efforts to assure that parts are available from multiple qualified suppliers , this is not always possible .

accordingly , some key parts may be obtained from only a single supplier or a limited group of suppliers .

applied seeks to reduce costs and to lower the risks of manufacturing and service interruptions by : ( 1 ) selecting and qualifying alternate suppliers for key parts ; ( 2 ) monitoring the financial condition of key suppliers ; ( 3 ) maintaining appropriate inventories of key parts ; ( 4 ) qualifying new parts on a timely basis ; and ( 5 ) locating certain manufacturing operations in close proximity to suppliers and customers .

research , development and engineering applied 2019s long-term growth strategy requires continued development of new products , including products that enable expansion into new markets .

the company 2019s significant investment in research , development and engineering ( rd&e ) has generally enabled it to deliver new products and technologies before the emergence of strong demand , thus allowing customers to incorporate these products into their manufacturing plans at an early stage in the technology selection cycle .

applied works closely with its global customers to design systems and processes that meet their planned technical and production requirements .

product development and engineering organizations are located primarily in the united states , as well as in europe , israel , taiwan , and china .

in addition , applied outsources certain rd&e activities , some of which are performed outside the united states , primarily in india and singapore .

process support and customer demonstration laboratories are located in the united states , china , taiwan , europe , and israel .

applied 2019s investments in rd&e for product development and engineering programs to create or improve products and technologies over the last three years were as follows : $ 1.4 billion ( 16 percent of net sales ) in fiscal 2014 , $ 1.3 billion ( 18 percent of net sales ) in fiscal 2013 , and $ 1.2 billion ( 14 percent of net sales ) in fiscal 2012 .

applied has spent an average of 13 percent of net sales in rd&e over the last five years .

in addition to rd&e for specific product technologies , applied maintains ongoing programs for automation control systems , materials research , and environmental control that are applicable to its products. .

Question: and in 2013?

Answer: 0.07222