notes to consolidated financial statements 2014 ( continued ) 16 .

financial instruments fuel hedges we have entered into multiple swap agreements designated as cash flow hedges to mitigate some of our exposure related to changes in diesel fuel prices .

these swaps qualified for , and were designated as , effective hedges of changes in the prices of forecasted diesel fuel purchases ( fuel hedges ) .

the following table summarizes our outstanding fuel hedges as of december 31 , 2015 : year gallons hedged weighted average contract price per gallon .

on-highway average price for a gallon of diesel fuel as published by the department of energy exceeds the contract price per gallon , we receive the difference between the average price and the contract price ( multiplied by the notional gallons ) from the counterparty .

if the average price is less than the contract price per gallon , we pay the difference to the counterparty .

the fair values of our fuel hedges are determined using standard option valuation models with assumptions about commodity prices based on those observed in underlying markets ( level 2 in the fair value hierarchy ) .

the aggregate fair values of our outstanding fuel hedges as of december 31 , 2015 and 2014 were current liabilities of $ 37.8 million and $ 34.4 million , respectively , and have been recorded in other accrued liabilities in our consolidated balance sheets .

the ineffective portions of the changes in fair values resulted in a loss of $ 0.4 million and $ 0.5 million for the years ended december 31 , 2015 and 2014 respectively , and a gain of less than $ 0.1 million for the year ended december 31 , 2013 , and have been recorded in other income , net in our consolidated statements of income .

total ( loss ) gain recognized in other comprehensive ( loss ) income for fuel hedges ( the effective portion ) was $ ( 2.0 ) million , $ ( 24.2 ) million and $ 2.4 million , for the years ended december 31 , 2015 , 2014 and 2013 , respectively .

recycling commodity hedges revenue from the sale of recycled commodities is primarily from sales of old corrugated cardboard and old newspaper .

from time to time we use derivative instruments such as swaps and costless collars designated as cash flow hedges to manage our exposure to changes in prices of these commodities .

we had no outstanding recycling commodity hedges as of december 31 , 2015 and 2014 .

no amounts were recognized in other income , net in our consolidated statements of income for the ineffective portion of the changes in fair values during the years ended december 31 , 2015 , 2014 and 2013 .

total gain ( loss ) recognized in other comprehensive income for recycling commodity hedges ( the effective portion ) was $ 0.1 million and $ ( 0.1 ) million for the years ended december 31 , 2014 and 2013 , respectively .

no amount was recognized in other comprehensive income for 2015 .

fair value measurements in measuring fair values of assets and liabilities , we use valuation techniques that maximize the use of observable inputs ( level 1 ) and minimize the use of unobservable inputs ( level 3 ) .

we also use market data or assumptions that we believe market participants would use in pricing an asset or liability , including assumptions about risk when appropriate. .

1	year	gallons hedged	weighted average contractprice per gallon

2	2016	27000000	$ 3.57

3	2017	12000000	2.92

Question: what was the ratio of the 2016 hedged gallons to 2017

Answer: 2.25


Question: what is the percentage growth of the aggregate fair values of our outstanding fuel hedge for 2014 to 2015

Answer: 0.09884


note 6 : inventories we use the last-in , first-out ( lifo ) method for the majority of our inventories located in the continental u.s .

other inventories are valued by the first-in , first-out ( fifo ) method .

fifo cost approximates current replacement cost .

inventories measured using lifo must be valued at the lower of cost or market .

inventories measured using fifo must be valued at the lower of cost or net realizable value .

inventories at december 31 consisted of the following: .

inventories valued under the lifo method comprised $ 1.57 billion and $ 1.56 billion of total inventories at december 31 , 2018 and 2017 , respectively .

note 7 : financial instruments financial instruments that potentially subject us to credit risk consist principally of trade receivables and interest- bearing investments .

wholesale distributors of life-science products account for a substantial portion of our trade receivables ; collateral is generally not required .

we seek to mitigate the risk associated with this concentration through our ongoing credit-review procedures and insurance .

a large portion of our cash is held by a few major financial institutions .

we monitor our exposures with these institutions and do not expect any of these institutions to fail to meet their obligations .

major financial institutions represent the largest component of our investments in corporate debt securities .

in accordance with documented corporate risk-management policies , we monitor the amount of credit exposure to any one financial institution or corporate issuer .

we are exposed to credit-related losses in the event of nonperformance by counterparties to risk-management instruments but do not expect any counterparties to fail to meet their obligations given their high credit ratings .

we consider all highly liquid investments with a maturity of three months or less from the date of purchase to be cash equivalents .

the cost of these investments approximates fair value .

our equity investments are accounted for using three different methods depending on the type of equity investment : 2022 investments in companies over which we have significant influence but not a controlling interest are accounted for using the equity method , with our share of earnings or losses reported in other-net , ( income ) expense .

2022 for equity investments that do not have readily determinable fair values , we measure these investments at cost , less any impairment , plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer .

any change in recorded value is recorded in other-net , ( income ) expense .

2022 our public equity investments are measured and carried at fair value .

any change in fair value is recognized in other-net , ( income ) expense .

we review equity investments other than public equity investments for indications of impairment on a regular basis .

our derivative activities are initiated within the guidelines of documented corporate risk-management policies and are intended to offset losses and gains on the assets , liabilities , and transactions being hedged .

management reviews the correlation and effectiveness of our derivatives on a quarterly basis. .

1		2018	2017

2	finished products	$ 988.1	$ 1211.4

3	work in process	2628.2	2697.7

4	raw materials and supplies	506.5	488.8

5	total ( approximates replacement cost )	4122.8	4397.9

6	increase ( reduction ) to lifo cost	-11.0 ( 11.0 )	60.4

7	inventories	$ 4111.8	$ 4458.3

Question: what was the percentage change in raw materials and supplies between 2017 and 2018?

Answer: 0.03621


/ 2007 annual report 31 the following section provides a comparative discussion of jpmorgan chase 2019s consolidated results of operations on a reported basis for the three-year period ended december 31 , 2007 .

factors that relate primarily to a single business segment are discussed in more detail within that business segment than they are in this consolidated sec- tion .

for a discussion of the critical accounting estimates used by the firm that affect the consolidated results of operations , see pages 96 201398 of this annual report .

2007 compared with 2006 total net revenue of $ 71.4 billion was up $ 9.4 billion , or 15% ( 15 % ) , from the prior year .

higher net interest income , very strong private equity gains , record asset management , administration and commissions revenue , higher mortgage fees and related income and record investment banking fees contributed to the revenue growth .

these increases were offset partially by lower trading revenue .

investment banking fees grew in 2007 to a level higher than the pre- vious record set in 2006 .

record advisory and equity underwriting fees drove the results , partially offset by lower debt underwriting fees .

for a further discussion of investment banking fees , which are primarily recorded in ib , see the ib segment results on pages 40 201342 of this annual report .

principal transactions revenue consists of trading revenue and private equity gains .

trading revenue declined significantly from the 2006 level , primarily due to markdowns in ib of $ 1.4 billion ( net of hedges ) on subprime positions , including subprime cdos , and $ 1.3 billion ( net of fees ) on leveraged lending funded loans and unfunded commitments .

also in ib , markdowns in securitized products on nonsubprime mortgages and weak credit trading performance more than offset record revenue in currencies and strong revenue in both rates and equities .

equities benefited from strong client activity and record trading results across all products .

ib 2019s credit portfolio results increased compared with the prior year , primarily driven by higher revenue from risk management activities .

the increase in private equity gains from 2006 reflected a significantly higher level of gains , the classification of certain private equity carried interest as compensation expense and a fair value adjustment in the first quarter of 2007 on nonpublic private equity investments resulting from the adoption of sfas 157 ( 201cfair value measurements 201d ) .

for a further discussion of principal transactions revenue , see the ib and corporate segment results on pages 40 201342 and 59 201360 , respectively , and note 6 on page 122 of this annual report .

lending & deposit-related fees rose from the 2006 level , driven pri- marily by higher deposit-related fees and the bank of new york transaction .

for a further discussion of lending & deposit-related fees , which are mostly recorded in rfs , tss and cb , see the rfs segment results on pages 43 201348 , the tss segment results on pages 54 201355 , and the cb segment results on pages 52 201353 of this annual report .

asset management , administration and commissions revenue reached a level higher than the previous record set in 2006 .

increased assets under management and higher performance and placement fees in am drove the record results .

the 18% ( 18 % ) growth in assets under management from year-end 2006 came from net asset inflows and market appreciation across all segments : institutional , retail , private bank and private client services .

tss also contributed to the rise in asset management , administration and commissions revenue , driven by increased product usage by new and existing clients and market appreciation on assets under custody .

finally , commissions revenue increased , due mainly to higher brokerage transaction volume ( primarily included within fixed income and equity markets revenue of ib ) , which more than offset the sale of the insurance business by rfs in the third quarter of 2006 and a charge in the first quarter of 2007 resulting from accelerated surrenders of customer annuities .

for additional information on these fees and commissions , see the segment discussions for ib on pages 40 201342 , rfs on pages 43 201348 , tss on pages 54 201355 , and am on pages 56 201358 , of this annual report .

the favorable variance resulting from securities gains in 2007 compared with securities losses in 2006 was primarily driven by improvements in the results of repositioning of the treasury invest- ment securities portfolio .

also contributing to the positive variance was a $ 234 million gain from the sale of mastercard shares .

for a fur- ther discussion of securities gains ( losses ) , which are mostly recorded in the firm 2019s treasury business , see the corporate segment discussion on pages 59 201360 of this annual report .

1	year ended december 31 ( in millions )	2007	2006	2005

2	investment banking fees	$ 6635	$ 5520	$ 4088

3	principal transactions	9015	10778	8072

4	lending & deposit-related fees	3938	3468	3389

5	asset management administration and commissions	14356	11855	9988

6	securities gains ( losses )	164	-543 ( 543 )	-1336 ( 1336 )

7	mortgage fees and related income	2118	591	1054

8	credit card income	6911	6913	6754

9	other income	1829	2175	2684

10	noninterest revenue	44966	40757	34693

11	net interest income	26406	21242	19555

12	total net revenue	$ 71372	$ 61999	$ 54248

Question: what was the percentage change in investment banking fees from 2006 to 2007?

Answer: 0.20199


and subsidiaries notes to consolidated financial statements in the tables above : 2030 the gross fair values exclude the effects of both counterparty netting and collateral netting , and therefore are not representative of the firm 2019s exposure .

2030 counterparty netting is reflected in each level to the extent that receivable and payable balances are netted within the same level and is included in counterparty netting in levels .

where the counterparty netting is across levels , the netting is included in cross-level counterparty netting .

significant unobservable inputs the table below presents the amount of level 3 assets ( liabilities ) , and ranges , averages and medians of significant unobservable inputs used to value the firm 2019s level 3 derivatives .

level 3 assets ( liabilities ) and range of significant unobservable inputs ( average/median ) as of december $ in millions 2017 2016 .

in the table above : 2030 derivative assets are shown as positive amounts and derivative liabilities are shown as negative amounts .

2030 ranges represent the significant unobservable inputs that were used in the valuation of each type of derivative .

2030 averages represent the arithmetic average of the inputs and are not weighted by the relative fair value or notional of the respective financial instruments .

an average greater than the median indicates that the majority of inputs are below the average .

for example , the difference between the average and the median for credit spreads and oil spread inputs indicates that the majority of the inputs fall in the lower end of the range .

2030 the ranges , averages and medians of these inputs are not representative of the appropriate inputs to use when calculating the fair value of any one derivative .

for example , the highest correlation for interest rate derivatives is appropriate for valuing a specific interest rate derivative but may not be appropriate for valuing any other interest rate derivative .

accordingly , the ranges of inputs do not represent uncertainty in , or possible ranges of , fair value measurements of the firm 2019s level 3 derivatives .

2030 interest rates , currencies and equities derivatives are valued using option pricing models , credit derivatives are valued using option pricing , correlation and discounted cash flow models , and commodities derivatives are valued using option pricing and discounted cash flow models .

2030 the fair value of any one instrument may be determined using multiple valuation techniques .

for example , option pricing models and discounted cash flows models are typically used together to determine fair value .

therefore , the level 3 balance encompasses both of these techniques .

2030 correlation within currencies and equities includes cross- product type correlation .

2030 natural gas spread represents the spread per million british thermal units of natural gas .

2030 oil spread represents the spread per barrel of oil and refined products .

range of significant unobservable inputs the following is information about the ranges of significant unobservable inputs used to value the firm 2019s level 3 derivative instruments : 2030 correlation .

ranges for correlation cover a variety of underliers both within one product type ( e.g. , equity index and equity single stock names ) and across product types ( e.g. , correlation of an interest rate and a currency ) , as well as across regions .

generally , cross-product type correlation inputs are used to value more complex instruments and are lower than correlation inputs on assets within the same derivative product type .

ranges for volatility cover numerous underliers across a variety of markets , maturities and strike prices .

for example , volatility of equity indices is generally lower than volatility of single stocks .

2030 credit spreads , upfront credit points and recovery rates .

the ranges for credit spreads , upfront credit points and recovery rates cover a variety of underliers ( index and single names ) , regions , sectors , maturities and credit qualities ( high-yield and investment-grade ) .

the broad range of this population gives rise to the width of the ranges of significant unobservable inputs .

Question: what is the percentage change in net comodities from 2016 to 2017?

Answer: -0.35616


market for the registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following graph compares annual total return of our common stock , the standard & poor 2019s 500 composite stock index ( 201cs&p 500 index 201d ) and our peer group ( 201cloews peer group 201d ) for the five years ended december 31 , 2015 .

the graph assumes that the value of the investment in our common stock , the s&p 500 index and the loews peer group was $ 100 on december 31 , 2010 and that all dividends were reinvested. .

( a ) the loews peer group consists of the following companies that are industry competitors of our principal operating subsidiaries : ace limited , w.r .

berkley corporation , the chubb corporation , energy transfer partners l.p. , ensco plc , the hartford financial services group , inc. , kinder morgan energy partners , l.p .

( included through november 26 , 2014 when it was acquired by kinder morgan inc. ) , noble corporation , spectra energy corp , transocean ltd .

dividend information we have paid quarterly cash dividends on loews common stock in each year since 1967 .

regular dividends of $ 0.0625 per share of loews common stock were paid in each calendar quarter of 2015 and 2014. .

Question: what is the percentage reduction in the loews common stock from 2013 to 2014

Answer: -0.1239


in september 2016 the ferc accepted the february 2016 compliance filing subject to a further compliance filing made in november 2016 .

the further compliance filing was required as a result of an order issued in september 2016 ruling on the january 2016 rehearing requests filed by the lpsc , the apsc , and entergy .

in the order addressing the rehearing requests , the ferc granted the lpsc 2019s rehearing request and directed that interest be calculated on the payment/receipt amounts .

the ferc also granted the apsc 2019s and entergy 2019s rehearing request and ordered the removal of both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes from the calculation .

in november 2016 , entergy submitted its compliance filing in response to the ferc 2019s order on rehearing .

the compliance filing included a revised refund calculation of the true-up payments and receipts based on 2009 test year data and interest calculations .

the lpsc protested the interest calculations .

in november 2017 the ferc issued an order rejecting the november 2016 compliance filing .

the ferc determined that the payments detailed in the november 2016 compliance filing did not include adequate interest for the payments from entergy arkansas to entergy louisiana because it did not include interest on the principal portion of the payment that was made in february 2016 .

in december 2017 , entergy recalculated the interest pursuant to the november 2017 order .

as a result of the recalculations , entergy arkansas owed very minor payments to entergy louisiana , entergy mississippi , and entergy new orleans .

2011 rate filing based on calendar year 2010 production costs in may 2011 , entergy filed with the ferc the 2011 rates in accordance with the ferc 2019s orders in the system agreement proceeding . a0 a0several parties intervened in the proceeding at the ferc , including the lpsc , which also filed a protest . a0 a0in july a02011 the ferc a0accepted entergy 2019s proposed rates for filing , a0effective june a01 , a02011 , a0subject to refund .

after an abeyance of the proceeding schedule , in december 2014 the ferc consolidated the 2011 rate filing with the 2012 , 2013 , and 2014 rate filings for settlement and hearing procedures .

see discussion below regarding the consolidated settlement and hearing procedures in connection with this proceeding .

2012 rate filing based on calendar year 2011 production costs in may 2012 , entergy filed with the ferc the 2012 rates in accordance with the ferc 2019s orders in the system agreement proceeding . a0 a0several parties intervened in the proceeding at the ferc , including the lpsc , which also filed a protest . a0 a0in august 2012 the ferc a0accepted entergy 2019s proposed rates for filing , a0effective june a02012 , a0subject to refund .

after an abeyance of the proceeding schedule , in december 2014 the ferc consolidated the 2012 rate filing with the 2011 , 2013 , and 2014 rate filings for settlement and hearing procedures .

2013 rate filing based on calendar year 2012 production costs in may 2013 , entergy filed with the ferc the 2013 rates in accordance with the ferc 2019s orders in the system agreement proceeding .

the city council intervened and filed comments related to including the outcome of a related ferc proceeding in the 2013 cost equalization calculation .

in august 2013 the ferc issued an order accepting the 2013 rates , effective june 1 , 2013 , subject to refund .

after an abeyance of the proceeding schedule , in december 2014 the ferc consolidated the 2013 rate filing with the 2011 , 2012 , and 2014 rate filings for settlement and hearing procedures .

entergy corporation and subsidiaries notes to financial statements .

1		payments ( receipts ) ( in millions )

2	entergy arkansas	$ 2

3	entergy louisiana	$ 6

4	entergy mississippi	( $ 4 )

5	entergy new orleans	( $ 1 )

6	entergy texas	( $ 3 )

Question: what is the difference in payments between entergy arkansas and entergy louisiana , in millions?

Answer: 4.0


in september 2016 the ferc accepted the february 2016 compliance filing subject to a further compliance filing made in november 2016 .

the further compliance filing was required as a result of an order issued in september 2016 ruling on the january 2016 rehearing requests filed by the lpsc , the apsc , and entergy .

in the order addressing the rehearing requests , the ferc granted the lpsc 2019s rehearing request and directed that interest be calculated on the payment/receipt amounts .

the ferc also granted the apsc 2019s and entergy 2019s rehearing request and ordered the removal of both securitized asset accumulated deferred income taxes and contra-securitization accumulated deferred income taxes from the calculation .

in november 2016 , entergy submitted its compliance filing in response to the ferc 2019s order on rehearing .

the compliance filing included a revised refund calculation of the true-up payments and receipts based on 2009 test year data and interest calculations .

the lpsc protested the interest calculations .

in november 2017 the ferc issued an order rejecting the november 2016 compliance filing .

the ferc determined that the payments detailed in the november 2016 compliance filing did not include adequate interest for the payments from entergy arkansas to entergy louisiana because it did not include interest on the principal portion of the payment that was made in february 2016 .

in december 2017 , entergy recalculated the interest pursuant to the november 2017 order .

as a result of the recalculations , entergy arkansas owed very minor payments to entergy louisiana , entergy mississippi , and entergy new orleans .

2011 rate filing based on calendar year 2010 production costs in may 2011 , entergy filed with the ferc the 2011 rates in accordance with the ferc 2019s orders in the system agreement proceeding . a0 a0several parties intervened in the proceeding at the ferc , including the lpsc , which also filed a protest . a0 a0in july a02011 the ferc a0accepted entergy 2019s proposed rates for filing , a0effective june a01 , a02011 , a0subject to refund .

after an abeyance of the proceeding schedule , in december 2014 the ferc consolidated the 2011 rate filing with the 2012 , 2013 , and 2014 rate filings for settlement and hearing procedures .

see discussion below regarding the consolidated settlement and hearing procedures in connection with this proceeding .

2012 rate filing based on calendar year 2011 production costs in may 2012 , entergy filed with the ferc the 2012 rates in accordance with the ferc 2019s orders in the system agreement proceeding . a0 a0several parties intervened in the proceeding at the ferc , including the lpsc , which also filed a protest . a0 a0in august 2012 the ferc a0accepted entergy 2019s proposed rates for filing , a0effective june a02012 , a0subject to refund .

after an abeyance of the proceeding schedule , in december 2014 the ferc consolidated the 2012 rate filing with the 2011 , 2013 , and 2014 rate filings for settlement and hearing procedures .

2013 rate filing based on calendar year 2012 production costs in may 2013 , entergy filed with the ferc the 2013 rates in accordance with the ferc 2019s orders in the system agreement proceeding .

the city council intervened and filed comments related to including the outcome of a related ferc proceeding in the 2013 cost equalization calculation .

in august 2013 the ferc issued an order accepting the 2013 rates , effective june 1 , 2013 , subject to refund .

after an abeyance of the proceeding schedule , in december 2014 the ferc consolidated the 2013 rate filing with the 2011 , 2012 , and 2014 rate filings for settlement and hearing procedures .

entergy corporation and subsidiaries notes to financial statements .

Question: what are the payments for entergy arkansas as a percentage of payments for entergy louisiana?

Answer: 0.33333


2012 sales of $ 451.1 increased primarily from higher lng project activity .

operating income of $ 65.5 increased from the higher lng project activity .

the sales backlog for the equipment business at 30 september 2013 was $ 402 , compared to $ 450 at 30 september 2012 .

it is expected that approximately $ 250 of the backlog will be completed during 2014 .

2011 sales of $ 420.1 increased 5% ( 5 % ) , or $ 19.5 , reflecting higher air separation unit ( asu ) activity .

operating income of $ 44.6 decreased 29% ( 29 % ) , or $ 18.2 , reflecting lower lng project activity .

the sales backlog for the equipment business at 30 september 2012 was $ 450 , compared to $ 334 at 30 september 2011 .

other operating income ( loss ) primarily includes other expense and income that cannot be directly associated with the business segments , including foreign exchange gains and losses .

also included are lifo inventory valuation adjustments , as the business segments use fifo , and the lifo pool valuation adjustments are not allocated to the business segments .

other also included stranded costs resulting from discontinued operations , as these costs were not reallocated to the businesses in 2012 .

2012 other operating loss was $ 4.7 , compared to $ 6.6 in the prior year .

the current year includes an unfavorable lifo adjustment versus the prior year of $ 11 .

the prior year loss included stranded costs from discontinued operations of $ 10 .

2011 other operating loss was $ 6.6 , compared to $ 39.3 in the prior year , primarily due to a reduction in stranded costs , a decrease in the lifo adjustment as a result of decreases in inventory values , and favorable foreign exchange , partially offset by gains on asset sales in the prior year. .

Question: considering the year 2013 , what is the sales to operating income ratio?

Answer: 6.88702


Question: considering the year 2012 , what is the sales to operating income ratio?

Answer: 9.41928


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 is the percent change in net revenue from 2015 to 2016?

Answer: 0.08042


Question: what are the nuclear fuel expenses as a percentage of 2016 net revenue?

Answer: 0.0441


investing activities for the year ended 30 september 2014 , cash used for investing activities was $ 1638.0 , primarily capital expenditures for plant and equipment .

for the year ended 30 september 2013 , cash used for investing activities was $ 1697.0 , primarily capital expenditures for plant and equipment and acquisitions .

for the year ended 30 september 2012 , cash used for investing activities was $ 2435.2 , primarily capital expenditures for plant and equipment , acquisitions , and investments in unconsolidated affiliates .

refer to the capital expenditures section below for additional detail .

capital expenditures capital expenditures are detailed in the following table: .

( a ) we utilize a non-gaap measure in the computation of capital expenditures and include spending associated with facilities accounted for as capital leases and purchases of noncontrolling interests .

certain contracts associated with facilities that are built to provide product to a specific customer are required to be accounted for as leases , and such spending is reflected as a use of cash within cash provided by operating activities , if the arrangement qualifies as a capital lease .

additionally , the payment for subsidiary shares from noncontrolling interests in a subsidiary is accounted for as an equity transaction and will be reflected as a financing activity in the statement of cash flows .

the presentation of this non-gaap measure is intended to enhance the usefulness of information by providing a measure that our management uses internally to evaluate and manage our expenditures .

capital expenditures on a gaap basis in 2014 totaled $ 1682.2 , compared to $ 1747.8 in 2013 .

the decrease of $ 65.6 was primarily due to the acquisitions in 2013 .

additions to plant and equipment are largely in support of the merchant gases and tonnage gases businesses .

additions to plant and equipment also included support capital of a routine , ongoing nature , including expenditures for distribution equipment and facility improvements .

spending in 2014 and 2013 included plant and equipment constructed to provide oxygen for coal gasification in china , hydrogen to the global market , and renewable energy in the u.k .

in 2013 , we completed three acquisitions with an aggregate cash use , net of cash acquired , of $ 224.9 .

in the fourth quarter , we acquired an air separation unit and integrated gases liquefier in guiyang , china .

during the third quarter , we acquired epco , the largest independent u.s .

producer of liquid carbon dioxide ( co2 ) , and wcg .

in 2012 , we acquired a controlling stake in indura s.a .

dupont de nemours and co. , inc . 2019s 50% ( 50 % ) interest in our joint venture , da nanomaterials for $ 147 .

we also purchased a 25% ( 25 % ) equity interest in abdullah hashim industrial gases & equipment co .

( ahg ) , an unconsolidated affiliate , for $ 155 .

refer to note 5 , business combinations , and note 7 , summarized financial information of equity affiliates , to the consolidated financial statements for additional details regarding the acquisitions and the investments .

capital expenditures on a non-gaap basis in 2014 totaled $ 1885.1 compared to $ 1996.7 in 2013 .

capital lease expenditures of $ 202.4 decreased by $ 32.5 , reflecting lower project spending .

2015 outlook excluding acquisitions , capital expenditures for new plant and equipment in 2015 on a gaap basis are expected to be between $ 1650 and $ 1800 , and on a non-gaap basis are expected to be between $ 1700 and $ 1900 .

the non-gaap capital expenditures include spending associated with facilities accounted for as capital leases , which are expected to be between $ 50 and $ 100 .

a majority of the total capital expenditures is expected to be for new plants .

it is anticipated that capital expenditures will be funded principally with cash from continuing operations .

in addition , we intend to continue to evaluate acquisition opportunities and investments in equity affiliates .

financing activities for the year ended 2014 , cash used by financing activities was $ 504.3 primarily attributable to cash used to pay dividends of $ 627.7 , which was partially offset by proceeds from stock option exercises of $ 141.6 .

our borrowings ( short- and long-term proceeds , net of repayments ) were a net source of cash ( issuance ) of $ 1.1 and included $ 148.7 of net commercial paper and other short-term debt issuances , debt proceeds from the issuance of a .

1		2014	2013	2012

2	additions to plant and equipment	$ 1684.2	$ 1524.2	$ 1521.0

3	acquisitions less cash acquired	2014	224.9	863.4

4	investments in and advances to unconsolidated affiliates	-2.0 ( 2.0 )	-1.3 ( 1.3 )	175.4

5	capital expenditures on a gaap basis	$ 1682.2	$ 1747.8	$ 2559.8

6	capital lease expenditures ( a )	202.4	234.9	212.2

7	purchase of noncontrolling interests in asubsidiary ( a )	.5	14.0	6.3

8	capital expenditures on a non-gaap basis	$ 1885.1	$ 1996.7	$ 2778.3

Question: considering the year 2012 , how bigger is the capital expenditures on a non-gaap basis than the one on a gaap basis?

Answer: 0.08536


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 was the percentage return for pmi common stock for the five years ended 2018?

Answer: -0.035


entergy corporation notes to consolidated financial statements ( a ) consists of pollution control revenue bonds and environmental revenue bonds , certain series of which are secured by non-interest bearing first mortgage bonds .

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

( c ) the bonds are subject to mandatory tender for purchase from the holders at 100% ( 100 % ) of the principal amount outstanding on september 1 , 2004 and can then be remarketed .

( d ) the bonds had a mandatory tender date of october 1 , 2003 .

entergy louisiana purchased the bonds from the holders , pursuant to the mandatory tender provision , and has not remarketed the bonds at this time .

entergy louisiana used a combination of cash on hand and short-term borrowing to buy-in the bonds .

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

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

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

( g ) pursuant to the nuclear waste policy act of 1982 , entergy's nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service .

the contracts include a one-time fee for generation prior to april 7 , 1983 .

entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee , plus accrued interest , in long-term ( h ) the fair value excludes lease obligations , long-term doe obligations , and other long-term debt and includes debt due within one year .

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

the annual long-term debt maturities ( excluding lease obligations ) for debt outstanding as of december 31 , 2003 , for the next five years are as follows: .

in november 2000 , entergy's non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction .

entergy issued notes to nypa with seven annual installments of approximately $ 108 million commencing one year from the date of the closing , and eight annual installments of $ 20 million commencing eight years from the date of the closing .

these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) .

in accordance with the purchase agreement with nypa , the purchase of indian point 2 resulted in entergy's non-utility nuclear business becoming liable to nypa for an additional $ 10 million per year for 10 years , beginning in september 2003 .

this liability was recorded upon the purchase of indian point 2 in september 2001 , and is included in the note payable to nypa balance above .

in july 2003 , a payment of $ 102 million was made prior to maturity on the note payable to nypa .

under a provision in a letter of credit supporting these notes , if certain of the domestic utility companies or system energy were to default on other indebtedness , entergy could be required to post collateral to support the letter of credit .

covenants in the entergy corporation notes require it to maintain a consolidated debt ratio of 65% ( 65 % ) or less of its total capitalization .

if entergy's debt ratio exceeds this limit , or if entergy or certain of the domestic utility companies default on other indebtedness or are in bankruptcy or insolvency proceedings , an acceleration of the notes' maturity dates may occur. .

Question: what amount of long-term debt due in the next 24 months as of december 31 , 2003 , in millions?

Answer: 965.635


Question: what amount of long-term debt due in the next 36 months as of december 31 , 2003 , in millions?

Answer: 1041.531


notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) acquisition and the adjustments did not have a material impact on the company 2019s financial position or results of operation .

there have no other material changes to the purchase price allocation as disclosed in the company 2019s form 10-k for the year ended september 30 , 2006 .

as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued .

it was determined that only customer relationship , trade name , developed technology and know how and in-process research and development had separately identifiable values .

customer relationship represents r2 2019s strong active customer base , dominant market position and strong partnership with several large companies .

trade name represents the r2 product names that the company intends to continue to use .

order backlog consists of customer orders for which revenue has not yet been recognized .

developed technology and know how represents currently marketable purchased products that the company continues to resell as well as utilize to enhance and incorporate into the company 2019s existing products .

the estimated $ 10200 of purchase price allocated to in-process research and development projects primarily related to r2 2019s digital cad products .

the projects added direct digital algorithm capabilities as well as a new platform technology to analyze images and breast density measurement .

the projects were substantially completed as planned in fiscal 2007 .

the deferred income tax asset relates to the tax effect of acquired net operating loss carry forwards that the company believes are realizable partially offset by acquired identifiable intangible assets , and fair value adjustments to acquired inventory as such amounts are not deductible for tax purposes .

on july 27 , 2006 , the company completed the acquisition of suros surgical systems , inc .

( suros ) , pursuant to an agreement and plan of merger dated april 17 , 2006 .

the results of operations for suros have been included in the company 2019s consolidated financial statements from the date of acquisition as part of its mammography/breast care business segment .

suros , located in indianapolis , indiana , develops , manufactures and sells minimally invasive interventional breast biopsy technology and products for biopsy , tissue removal and biopsy site marking .

the initial aggregate purchase price for suros of approximately $ 248100 ( subject to adjustment ) consisted of 2300 shares of hologic common stock valued at $ 106500 , cash paid of $ 139000 , and approximately $ 2600 for acquisition related fees and expenses .

the company determined the fair value of the shares issued in connection with the acquisition in accordance with eitf issue no .

99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination .

the components and allocation of the purchase price , consists of the following approximate amounts: .

the acquisition also provides for a two-year earn out .

the earn-out is payable in two annual cash installments equal to the incremental revenue growth in suros 2019 business in the two years following the closing. .

1	net tangible assets acquired as of july 27 2006	$ 11800

2	in-process research and development	4900

3	developed technology and know how	46000

4	customer relationship	17900

5	trade name	5800

6	deferred income taxes	-21300 ( 21300 )

7	goodwill	202000

8	estimated purchase price	$ 267100

Question: what is the fair value of hologic common stock used to acquire suros?

Answer: 46.30435


notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) acquisition and the adjustments did not have a material impact on the company 2019s financial position or results of operation .

there have no other material changes to the purchase price allocation as disclosed in the company 2019s form 10-k for the year ended september 30 , 2006 .

as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued .

it was determined that only customer relationship , trade name , developed technology and know how and in-process research and development had separately identifiable values .

customer relationship represents r2 2019s strong active customer base , dominant market position and strong partnership with several large companies .

trade name represents the r2 product names that the company intends to continue to use .

order backlog consists of customer orders for which revenue has not yet been recognized .

developed technology and know how represents currently marketable purchased products that the company continues to resell as well as utilize to enhance and incorporate into the company 2019s existing products .

the estimated $ 10200 of purchase price allocated to in-process research and development projects primarily related to r2 2019s digital cad products .

the projects added direct digital algorithm capabilities as well as a new platform technology to analyze images and breast density measurement .

the projects were substantially completed as planned in fiscal 2007 .

the deferred income tax asset relates to the tax effect of acquired net operating loss carry forwards that the company believes are realizable partially offset by acquired identifiable intangible assets , and fair value adjustments to acquired inventory as such amounts are not deductible for tax purposes .

on july 27 , 2006 , the company completed the acquisition of suros surgical systems , inc .

( suros ) , pursuant to an agreement and plan of merger dated april 17 , 2006 .

the results of operations for suros have been included in the company 2019s consolidated financial statements from the date of acquisition as part of its mammography/breast care business segment .

suros , located in indianapolis , indiana , develops , manufactures and sells minimally invasive interventional breast biopsy technology and products for biopsy , tissue removal and biopsy site marking .

the initial aggregate purchase price for suros of approximately $ 248100 ( subject to adjustment ) consisted of 2300 shares of hologic common stock valued at $ 106500 , cash paid of $ 139000 , and approximately $ 2600 for acquisition related fees and expenses .

the company determined the fair value of the shares issued in connection with the acquisition in accordance with eitf issue no .

99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination .

the components and allocation of the purchase price , consists of the following approximate amounts: .

Question: what portion of the total acquisition price of suros is dedicated to goodwill?

Answer: 0.75627


divestiture of our arrow and moores businesses , and an unfavorable sales mix of international plumbing products , which , in aggregate , decreased sales by two percent .

net sales for 2016 were positively affected by increased sales volume of plumbing products , paints and other coating products and builders' hardware .

net sales for 2016 were also positively affected by favorable sales mix of cabinets and windows , and net selling price increases of north american windows and north american and international plumbing products .

net sales for 2016 were negatively affected by lower sales volume of cabinets and lower net selling prices of paints and other coating products .

our gross profit margins were 32.2 percent , 34.2 percent and 33.4 percent in 2018 , 2017 and 2016 , respectively .

the 2018 gross profit margin was negatively impacted by an increase in commodity costs , the recognition of the inventory step up adjustment established as a part of the the acquisition of kichler , an increase in other expenses ( such as logistics costs and salaries ) and unfavorable sales mix .

these negative impacts were partially offset by an increase in net selling prices , the benefits associated with cost savings initiatives , and increased sales volume .

the 2017 gross profit margin was positively impacted by increased sales volume , a more favorable relationship between net selling prices and commodity costs , and cost savings initiatives .

selling , general and administrative expenses as a percent of sales were 17.7 percent in 2018 compared with 18.6 percent in 2017 and 18.7 percent in 2016 .

the decrease in selling , general and administrative expenses , as a percentage of sales , was driven by leverage of fixed expenses , due primarily to increased sales volume , and improved cost control .

the following table reconciles reported operating profit to operating profit , as adjusted to exclude certain items , dollars in millions: .

operating profit margin in 2018 was negatively affected by an increase in commodity costs , the recognition of the inventory step up adjustment established as a part of the the acquisition of kichler and an increase in other expenses ( such as logistics costs , salaries and erp costs ) .

these negative impacts were partially offset by increased net selling prices , benefits associated with cost savings initiatives and increased sales volume .

operating profit margin in 2017 was positively impacted by increased sales volume , cost savings initiatives , and a more favorable relationship between net selling prices and commodity costs .

operating profit margin in 2017 was negatively impacted by an increase in strategic growth investments and certain other expenses , including stock-based compensation , health insurance costs , trade show costs and increased head count .

due to the recently-announced increase in tariffs on imported materials from china , and assuming tariffs rise to 25 percent in 2019 , we could be exposed to approximately $ 150 million of potential annual direct cost increases .

we will work to mitigate the impact of these tariffs through a combination of price increases , supplier negotiations , supply chain repositioning and other internal productivity measures .

other income ( expense ) , net other , net , for 2018 included $ 14 million of net periodic pension and post-retirement benefit cost and $ 8 million of realized foreign currency losses .

these expenses were partially offset by $ 3 million of earnings related to equity method investments and $ 1 million related to distributions from private equity funds .

other , net , for 2017 included $ 26 million related to periodic pension and post-retirement benefit costs , $ 13 million net loss related to the divestitures of moores and arrow and $ 2 million related to the impairment of a private equity fund , partially offset by $ 3 million related to distributions from private equity funds and $ 1 million of earnings related to equity method investments. .

1		2018	2017	2016

2	operating profit as reported	$ 1211	$ 1194	$ 1087

3	rationalization charges	14	4	22

4	kichler inventory step up adjustment	40	2014	2014

5	operating profit as adjusted	$ 1265	$ 1198	$ 1109

6	operating profit margins as reported	14.5% ( 14.5 % )	15.6% ( 15.6 % )	14.8% ( 14.8 % )

7	operating profit margins as adjusted	15.1% ( 15.1 % )	15.7% ( 15.7 % )	15.1% ( 15.1 % )

Question: what was the percentage growth in the operating profit as reported from 2017 to 2018

Answer: 0.01424


a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k the following table sets forth the operating profit margin by cost of products sold .

included in cost of product sold are segment for the years ended december 31 , 2003 , losses on foreign exchange hedge contracts , which increased 2002 and 2001 : in 2003 relative to 2002 .

in the fourth quarter , the company reported operating profit as a percent of net sales of percent of net sales 47.1 percent for asia pacific. .

operating profit for the americas as a percentage of net sales increased to 48.3 percent in 2002 from 47.4 percent in year ended december 31 , 2003 2001 , reflecting improved gross profit margins due to higher compared to year ended december 31 , 2002 average selling prices and increased sales of higher margin operating profit for the americas as a percentage of net products , and lower selling expenses as a percent of sales sales increased due to improved gross margins driven by due to lower costs associated with the u.s .

distributor higher average selling prices and increased sales of higher network .

the americas continued to invest in strategic margin products , leveraged operating expenses and the initiatives such as mis technologies , field sales personnel , favorable impact of the change in accounting principle for medical education programs and new product launches .

the change in accounting principle for operating profit for asia pacific as a percentage of net instruments increased operating profit by 1.7 percentage sales increased to 46.1 percent in 2002 from 45.4 percent points .

with respect to sales growth , increased zimmer in 2001 .

this increase reflects lower selling , general and standalone average selling prices of 4 percent in 2003 and administrative expenses as a percent of sales in japan as favorable effects of volume and mix , 15 percent increase in a result of a sales force and dealer reorganization , partially 2003 , represent the most significant factors in improved offset by lower gross profit margins as a result of lower yen operating profit in the americas .

as reconstructive implant hedge gains compared to 2001 .

sales grow at a higher rate than trauma and orthopaedic operating profit for europe as a percentage of net sales surgical products , operating profit margins generally tend to increased to 24.4 percent in 2002 from 19.5 percent in 2001 , improve since reconstructive product sales generally earn due to improved gross profit margins as a result of higher higher gross margins .

this was the case in 2003 , with zimmer average selling prices and favorable product and country mix , standalone reconstructive implant sales growth of 22 percent the leveraging of sales growth in europe on controlled as compared with total zimmer standalone sales growth of increases in operating expenses and improved efficiency 19 percent .

in the fourth quarter , the company reported in the utilization of instruments ( more frequent use of operating profit as a percent of net sales of 50.4 percent for instruments resulted in fewer placements and less expense ) .

operating profit for europe as a percentage of net sales liquidity and capital resources increased due to improved gross profit margins driven by cash flows provided by operations were $ 494.8 million higher zimmer standalone average selling prices and in 2003 , compared with $ 220.2 million in 2002 .

the principal favorable product and country mix , leveraged operating source of cash was net earnings before cumulative effect of expenses and the favorable impact of the change in change in accounting principle of $ 291.2 million .

non-cash accounting principle for instruments .

the change in expenses for the period included depreciation and accounting for instruments increased operating profit by amortization expense of $ 103.3 million , centerpulse inventory 1.4 percentage points .

increases in zimmer standalone step-up of $ 42.7 million and centerpulse in-process research average selling prices in europe of 2 percent in 2003 and the and development write-offs of $ 11.2 million .

working capital effect of volume and mix , 19 percent increase in 2003 , were management , together with the collection of $ 20.0 million of the key factors in improved operating profit .

also cash related to centerpulse tax loss carryforwards , contributing to the improvement was significantly lower contributed $ 80.4 million to operating cash flow .

in the fourth quarter , the working capital continues to be a key management focus .

company reported operating profit as a percent of net sales at december 31 , 2003 , the company had 62 days of sales of 24.7 percent for europe .

outstanding in accounts receivable , unfavorable to the prior operating profit for asia pacific as a percentage of year by 10 days .

acquired centerpulse businesses had a net sales decreased primarily due to less favorable rates on negative impact of 10 days , due to centerpulse 2019s business hedge contracts during the year compared to the prior year , mix which has a greater proportion of european revenue with partially offset by increased zimmer standalone average payment terms generally longer than those in the u.s .

at selling prices and leveraged operating expenses .

the change december 31 , 2003 , the company had 232 days of inventory in accounting for instruments had an immaterial effect on on hand compared to 247 days reported at the end of 2002 .

increases in zimmer the reduction was principally due to improved inventory standalone average selling prices in asia pacific of 1 percent management and the acquired dental and spinal businesses and volume and mix improvements of 4 percent in 2003 carrying fewer days of inventory .

contributed modest improvement but was offset by higher .

Question: what was the difference in operating profit for the americas as a percentage of net sales between 2001 and 2003?

Answer: 3.8


operating profit for the americas as a percentage of net sales increased to 48.3 percent in 2002 from 47.4 percent in year ended december 31 , 2003 2001 , reflecting improved gross profit margins due to higher compared to year ended december 31 , 2002 average selling prices and increased sales of higher margin operating profit for the americas as a percentage of net products , and lower selling expenses as a percent of sales sales increased due to improved gross margins driven by due to lower costs associated with the u.s .

distributor higher average selling prices and increased sales of higher network .

the americas continued to invest in strategic margin products , leveraged operating expenses and the initiatives such as mis technologies , field sales personnel , favorable impact of the change in accounting principle for medical education programs and new product launches .

the change in accounting principle for operating profit for asia pacific as a percentage of net instruments increased operating profit by 1.7 percentage sales increased to 46.1 percent in 2002 from 45.4 percent points .

with respect to sales growth , increased zimmer in 2001 .

this increase reflects lower selling , general and standalone average selling prices of 4 percent in 2003 and administrative expenses as a percent of sales in japan as favorable effects of volume and mix , 15 percent increase in a result of a sales force and dealer reorganization , partially 2003 , represent the most significant factors in improved offset by lower gross profit margins as a result of lower yen operating profit in the americas .

as reconstructive implant hedge gains compared to 2001 .

sales grow at a higher rate than trauma and orthopaedic operating profit for europe as a percentage of net sales surgical products , operating profit margins generally tend to increased to 24.4 percent in 2002 from 19.5 percent in 2001 , improve since reconstructive product sales generally earn due to improved gross profit margins as a result of higher higher gross margins .

this was the case in 2003 , with zimmer average selling prices and favorable product and country mix , standalone reconstructive implant sales growth of 22 percent the leveraging of sales growth in europe on controlled as compared with total zimmer standalone sales growth of increases in operating expenses and improved efficiency 19 percent .

in the fourth quarter , the company reported in the utilization of instruments ( more frequent use of operating profit as a percent of net sales of 50.4 percent for instruments resulted in fewer placements and less expense ) .

operating profit for europe as a percentage of net sales liquidity and capital resources increased due to improved gross profit margins driven by cash flows provided by operations were $ 494.8 million higher zimmer standalone average selling prices and in 2003 , compared with $ 220.2 million in 2002 .

the principal favorable product and country mix , leveraged operating source of cash was net earnings before cumulative effect of expenses and the favorable impact of the change in change in accounting principle of $ 291.2 million .

non-cash accounting principle for instruments .

the change in expenses for the period included depreciation and accounting for instruments increased operating profit by amortization expense of $ 103.3 million , centerpulse inventory 1.4 percentage points .

increases in zimmer standalone step-up of $ 42.7 million and centerpulse in-process research average selling prices in europe of 2 percent in 2003 and the and development write-offs of $ 11.2 million .

working capital effect of volume and mix , 19 percent increase in 2003 , were management , together with the collection of $ 20.0 million of the key factors in improved operating profit .

also cash related to centerpulse tax loss carryforwards , contributing to the improvement was significantly lower contributed $ 80.4 million to operating cash flow .

in the fourth quarter , the working capital continues to be a key management focus .

company reported operating profit as a percent of net sales at december 31 , 2003 , the company had 62 days of sales of 24.7 percent for europe .

outstanding in accounts receivable , unfavorable to the prior operating profit for asia pacific as a percentage of year by 10 days .

acquired centerpulse businesses had a net sales decreased primarily due to less favorable rates on negative impact of 10 days , due to centerpulse 2019s business hedge contracts during the year compared to the prior year , mix which has a greater proportion of european revenue with partially offset by increased zimmer standalone average payment terms generally longer than those in the u.s .

at selling prices and leveraged operating expenses .

the change december 31 , 2003 , the company had 232 days of inventory in accounting for instruments had an immaterial effect on on hand compared to 247 days reported at the end of 2002 .

increases in zimmer the reduction was principally due to improved inventory standalone average selling prices in asia pacific of 1 percent management and the acquired dental and spinal businesses and volume and mix improvements of 4 percent in 2003 carrying fewer days of inventory .

contributed modest improvement but was offset by higher .

Question: what was the difference in operating profit for europe as a percentage of net sales between 2001 and 2003?

Answer: 6.8


stock performance graph this performance graph shall not be deemed 201cfiled 201d for purposes of section 18 of the securities exchange act of 1934 , as amended ( the 201cexchange act 201d ) or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing of tractor supply company under the securities act of 1933 , as amended , or the exchange act .

the following graph compares the cumulative total stockholder return on our common stock from december 29 , 2012 to december 30 , 2017 ( the company 2019s fiscal year-end ) , with the cumulative total returns of the s&p 500 index and the s&p retail index over the same period .

the comparison assumes that $ 100 was invested on december 29 , 2012 , in our common stock and in each of the foregoing indices and in each case assumes reinvestment of dividends .

the historical stock price performance shown on this graph is not indicative of future performance. .

Question: compared to the s&p 500 ,what was the difference in percentage growth from the s&p 500 retail index .

Answer: 0.7446


american tower corporation and subsidiaries notes to consolidated financial statements ( 3 ) consists of customer-related intangibles of approximately $ 15.5 million and network location intangibles of approximately $ 19.8 million .

the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .

( 4 ) the company expects that the goodwill recorded will be deductible for tax purposes .

the goodwill was allocated to the company 2019s international rental and management segment .

uganda acquisition 2014on december 8 , 2011 , the company entered into a definitive agreement with mtn group to establish a joint venture in uganda .

the joint venture is controlled by a holding company of which a wholly owned subsidiary of the company ( the 201catc uganda subsidiary 201d ) holds a 51% ( 51 % ) interest and a wholly owned subsidiary of mtn group ( the 201cmtn uganda subsidiary 201d ) holds a 49% ( 49 % ) interest .

the joint venture is managed and controlled by the company and owns a tower operations company in uganda .

pursuant to the agreement , the joint venture agreed to purchase a total of up to 1000 existing communications sites from mtn group 2019s operating subsidiary in uganda , subject to customary closing conditions .

on june 29 , 2012 , the joint venture acquired 962 communications sites for an aggregate purchase price of $ 171.5 million , subject to post-closing adjustments .

the aggregate purchase price was subsequently increased to $ 173.2 million , subject to future post-closing adjustments .

under the terms of the purchase agreement , legal title to certain of these communications sites will be transferred upon fulfillment of certain conditions by mtn group .

prior to the fulfillment of these conditions , the company will operate and maintain control of these communications sites , and accordingly , reflect these sites in the allocation of purchase price and the consolidated operating results .

the following table summarizes the preliminary allocation of the aggregate purchase price consideration paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition ( in thousands ) : preliminary purchase price allocation .

( 1 ) consists of customer-related intangibles of approximately $ 36.5 million and network location intangibles of approximately $ 27.0 million .

( 2 ) the company expects that the goodwill recorded will be not be deductible for tax purposes .

germany acquisition 2014on november 14 , 2012 , the company entered into a definitive agreement to purchase communications sites from e-plus mobilfunk gmbh & co .

on december 4 , 2012 , the company completed the purchase of 2031 communications sites , for an aggregate purchase price of $ 525.7 million. .

1		preliminary purchase price allocation

2	non-current assets	$ 2258

3	property and equipment	102366

4	intangible assets ( 1 )	63500

5	other non-current liabilities	-7528 ( 7528 )

6	fair value of net assets acquired	$ 160596

7	goodwill ( 2 )	12564

Question: for the mtn group acquisition , what was the cost per tower ? .

Answer: 180041.58004


the following table presents information regarding capital stock: .

cme group has no shares of preferred stock issued and outstanding .

members of cme , cbot , nymex and comex own or lease trading rights which entitle them to access open outcry trading , discounts on trading fees and the right to vote on certain exchange matters as provided for by the rules of the particular exchange and cme group 2019s or the subsidiaries 2019 organizational documents .

each class of cme group class b common stock is associated with a membership in a specific division for trading at cme .

a cme trading right is a separate asset that is not part of or evidenced by the associated share of class b common stock of cme group .

the class b common stock of cme group is intended only to ensure that the class b shareholders of cme group retain rights with respect to representation on the board of directors and approval rights with respect to the core rights described below .

trading rights at cbot are evidenced by class b memberships in cbot , at nymex by class a memberships in nymex and at comex by comex division memberships .

members of cbot , nymex and comex do not have any rights to elect members of the board of directors and are not entitled to receive dividends or other distributions on their memberships or trading permits .

holders of cme group class b common shares have the right to approve changes in specified rights relating to the trading privileges at cme associated with those shares .

these core rights relate primarily to trading right protections , certain trading fee protections and certain membership benefit protections .

votes on changes to these core rights are weighted by class .

each class of class b common stock has the following number of votes on matters relating to core rights : class b-1 , six votes per share ; class b-2 , two votes per share ; class b-3 , one vote per share ; and class b-4 , 1/6th of one vote per share .

the approval of a majority of the votes cast by the holders of shares of class b common stock is required in order to approve any changes to core rights .

holders of shares of class a common stock do not have the right to vote on changes to core rights .

with the exception of the matters reserved to holders of cme group class b common stock , holders of cme group common stock vote together on all matters for which a vote of common shareholders is required .

in these votes , each holder of shares of class a or class b common stock of cme group has one vote per share .

each class of cme group class b common stock is subject to transfer restrictions contained in the certificate of incorporation of cme group .

these transfer restrictions prohibit the sale or transfer of any shares of class b common stock separate from the sale of the associated trading rights .

the cme group board of directors is currently comprised of 20 members .

holders of class b-1 , class b-2 and class b-3 common stock have the right to elect six directors , of which three are elected by class b-1 shareholders , two are elected by class b-2 shareholders and one is elected by class b-3 shareholders .

the remaining directors are elected by the class a and class b shareholders voting as a single class. .

1	( in thousands )	december 31 , 2017	december 31 , 2016

2	class a common stock authorized	1000000	1000000

3	class a common stock issued and outstanding	339235	338240

4	class b-1 common stock authorized issued and outstanding	0.6	0.6

5	class b-2 common stock authorized issued and outstanding	0.8	0.8

6	class b-3 common stock authorized issued and outstanding	1.3	1.3

7	class b-4 common stock authorized issued and outstanding	0.4	0.4

Question: how many total votes can the class b-3 provide in 2017?

Answer: 1300.0


and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 14 .

income taxes ( continued ) on april 1 , 2007 , the company adopted financial interpretation fin no .

48 , accounting for uncertainty in income taxes 2014an interpretation of fasb statement no .

48 201d ) , which clarifies the accounting for uncertainty in income taxes recognized in an enterprise 2019s financial statements in accordance with fasb statement no .

48 prescribes a recognition threshold and measurement process for recording in the financial statements uncertain tax positions taken or expected to be taken in a tax return .

48 also provides guidance on derecognition , classification , interest and penalties , accounting in interim periods , disclosure , and transition and defines the criteria that must be met for the benefits of a tax position to be recognized .

48 , the company recorded the cumulative effect of the change in accounting principle of $ 0.3 million as a decrease to opening retained earnings and an increase to other long-term liabilities as of april 1 , 2007 .

this adjustment related to state nexus for failure to file tax returns in various states for the years ended march 31 , 2003 , 2004 , and 2005 .

the company initiated a voluntary disclosure plan , which it completed in fiscal year 2009 .

the company elected to recognize interest and/or penalties related to income tax matters in income tax expense in its consolidated statements of operations .

as of march 31 , 2009 , the company had remitted all outstanding amounts owed to each of the states in connection with the outstanding taxes owed at march 31 , 2008 .

on a quarterly basis , the company accrues for the effects of uncertain tax positions and the related potential penalties and interest .

it is reasonably possible that the amount of the unrecognized tax benefit with respect to certain of the unrecognized tax positions will increase or decrease during the next 12 months ; however , it is not expected that the change will have a significant effect on the company 2019s results of operations or financial position .

a reconciliation of the beginning and ending balance of unrecognized tax benefits , excluding accrued interest recorded at march 31 , 2009 ( in thousands ) is as follows: .

the company and its subsidiaries are subject to u.s .

federal income tax , as well as income tax of multiple state and foreign jurisdictions .

the company has accumulated significant losses since its inception in 1981 .

all tax years remain subject to examination by major tax jurisdictions , including the federal government and the commonwealth of massachusetts .

however , since the company has net operating loss and tax credit carry forwards which may be utilized in future years to offset taxable income , those years may also be subject to review by relevant taxing authorities if the carry forwards are utilized .

commitments and contingencies the company 2019s acquisition of impella provided that abiomed was required to make contingent payments to impella 2019s former shareholders as follows : 2022 upon fda approval of the impella 2.5 device , a payment of $ 5583333 2022 upon fda approval of the impella 5.0 device , a payment of $ 5583333 , and 2022 upon the sale of 1000 units of impella 2019s products worldwide , a payment of $ 5583334 .

the two milestones related to sales and fda approval of the impella 2.5 device were achieved and paid prior to march 31 , 2009 .

in april 2009 , the company received fda 510 ( k ) clearance of its impella 5.0 product , triggering an obligation to pay the milestone related to the impella 5.0 device .

in may 2009 , the company paid $ 1.8 million of this final milestone in cash and elected to pay the remaining amount through the issuance of approximately 664612 shares of common stock. .

1	balance at march 31 2008	$ 168

2	reductions for tax positions for closing of the applicable statute of limitations	-168 ( 168 )

3	balance at march 31 2009	$ 2014

Question: what are the total contingent payments relating to impella?

Answer: 16750002.0


Question: what was the average payment per year for the state tax settlement , in millions?

Answer: 56.0


as a result of our acquisition of third wave on july 24 , 2008 , we assumed certain operating leases , the most significant of which is related to their corporate facility in madison , wisconsin , which is effective through september 2014 .

future lease payments on these operating leases were approximately $ 5.8 million as of september 27 , 2008 .

additionally , we assumed several license agreements for certain patent rights .

these payments will be made through 2011 and future payments under these license agreements are approximately $ 7.0 million as of september 27 , 2008 .

the following table summarizes our contractual obligations and commitments as of september 27 , 2008: .

( 1 ) approximately $ 6.4 million of the purchase obligations relates to an exclusive distribution and service agreement in the united states under which we will sell and service a line of extremity mri systems .

pursuant to the terms of this contract , we have certain minimum inventory purchase obligations for the initial term of eighteen months .

thereafter the purchase obligations are subject to renegotiation in the event of any unforeseen changes in the market dynamics .

( 2 ) as a result of the merger with cytyc , we assumed on a consolidated basis certain non-cancelable supply contracts .

for reasons of quality assurance , sole source availability or cost effectiveness , certain key components and raw materials are available only from a sole supplier .

to assure continuity of supply while maintaining high quality and reliability , long-term supply contracts have been executed with these suppliers .

in certain of these contracts , a minimum purchase commitment has been established .

( 3 ) as a result of the merger with cytyc , we assumed a private equity investment commitment with a limited liability partnership , which could be paid over the succeeding three years .

the amounts above do not include any amount that may be payable to biolucent and adiana for earn-outs .

we are working on several projects and we expect to continue to review and evaluate potential acquisitions of businesses , products or technologies , and strategic alliances that we believe will complement our current or future business .

subject to the risk factors set forth in part i , item 1a of this report and the general disclaimers set forth in our special note regarding forward-looking statements at the outset of this report , we believe that cash flow from operations and cash available from our amended credit agreement will provide us with sufficient funds in order to fund our expected operations over the next twelve months .

our longer-term liquidity is contingent upon future operating performance and our ability to continue to meet financial covenants under our amended credit agreement .

we may also require additional capital in the future to fund capital expenditures , acquisitions or other investments , or to repay our convertible notes .

the holders of the convertible notes may require us to repurchase the notes on december 13 of 2013 , and on each of december 15 , 2017 , 2022 , 2027 and 2032 at a repurchase price equal to 100% ( 100 % ) of their accreted principal amount .

these capital requirements could be substantial .

our operating performance may also be affected by matters discussed under the above-referenced risk factors as elsewhere in this report .

these risks , trends and uncertainties may also adversely affect our long- term liquidity. .

1	contractual obligations	payments due by period less than 1 year	payments due by period 1-3 years	payments due by period 3-5 years	payments due by period more than 5 years	payments due by period total

2	long-term debt obligations	$ 38480	$ 109436	$ 327400	$ 1725584	$ 2200900

3	interest on long-term debt obligations	58734	110973	90433	7484	267624

4	operating leases	18528	33162	27199	63616	142505

5	purchase obligations ( 1 )	33176	15703	2014	2014	48879

6	financing leases	2408	5035	5333	15008	27784

7	long-term supply contracts ( 2 )	3371	6000	3750	2014	13121

8	private equity investment ( 3 )	1874	2014	2014	2014	1874

9	total contractual obligations	$ 156571	$ 280309	$ 454115	$ 1811692	$ 2702687

Question: what portion of the long-term debt is reported under the current liabilities section of balance sheet as of september 27 , 2008?

Answer: 0.01748


( 1 ) approximately $ 6.4 million of the purchase obligations relates to an exclusive distribution and service agreement in the united states under which we will sell and service a line of extremity mri systems .

pursuant to the terms of this contract , we have certain minimum inventory purchase obligations for the initial term of eighteen months .

thereafter the purchase obligations are subject to renegotiation in the event of any unforeseen changes in the market dynamics .

( 2 ) as a result of the merger with cytyc , we assumed on a consolidated basis certain non-cancelable supply contracts .

for reasons of quality assurance , sole source availability or cost effectiveness , certain key components and raw materials are available only from a sole supplier .

to assure continuity of supply while maintaining high quality and reliability , long-term supply contracts have been executed with these suppliers .

in certain of these contracts , a minimum purchase commitment has been established .

( 3 ) as a result of the merger with cytyc , we assumed a private equity investment commitment with a limited liability partnership , which could be paid over the succeeding three years .

the amounts above do not include any amount that may be payable to biolucent and adiana for earn-outs .

we are working on several projects and we expect to continue to review and evaluate potential acquisitions of businesses , products or technologies , and strategic alliances that we believe will complement our current or future business .

subject to the risk factors set forth in part i , item 1a of this report and the general disclaimers set forth in our special note regarding forward-looking statements at the outset of this report , we believe that cash flow from operations and cash available from our amended credit agreement will provide us with sufficient funds in order to fund our expected operations over the next twelve months .

our longer-term liquidity is contingent upon future operating performance and our ability to continue to meet financial covenants under our amended credit agreement .

we may also require additional capital in the future to fund capital expenditures , acquisitions or other investments , or to repay our convertible notes .

the holders of the convertible notes may require us to repurchase the notes on december 13 of 2013 , and on each of december 15 , 2017 , 2022 , 2027 and 2032 at a repurchase price equal to 100% ( 100 % ) of their accreted principal amount .

these capital requirements could be substantial .

our operating performance may also be affected by matters discussed under the above-referenced risk factors as elsewhere in this report .

these risks , trends and uncertainties may also adversely affect our long- term liquidity. .

Question: what portion of the total contractual obligations are due within the next 12 months?

Answer: 0.05793


american tower corporation and subsidiaries notes to consolidated financial statements ( 3 ) consists of customer-related intangibles of approximately $ 15.5 million and network location intangibles of approximately $ 19.8 million .

the customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years .

( 4 ) the company expects that the goodwill recorded will be deductible for tax purposes .

the goodwill was allocated to the company 2019s international rental and management segment .

uganda acquisition 2014on december 8 , 2011 , the company entered into a definitive agreement with mtn group to establish a joint venture in uganda .

the joint venture is controlled by a holding company of which a wholly owned subsidiary of the company ( the 201catc uganda subsidiary 201d ) holds a 51% ( 51 % ) interest and a wholly owned subsidiary of mtn group ( the 201cmtn uganda subsidiary 201d ) holds a 49% ( 49 % ) interest .

the joint venture is managed and controlled by the company and owns a tower operations company in uganda .

pursuant to the agreement , the joint venture agreed to purchase a total of up to 1000 existing communications sites from mtn group 2019s operating subsidiary in uganda , subject to customary closing conditions .

on june 29 , 2012 , the joint venture acquired 962 communications sites for an aggregate purchase price of $ 171.5 million , subject to post-closing adjustments .

the aggregate purchase price was subsequently increased to $ 173.2 million , subject to future post-closing adjustments .

under the terms of the purchase agreement , legal title to certain of these communications sites will be transferred upon fulfillment of certain conditions by mtn group .

prior to the fulfillment of these conditions , the company will operate and maintain control of these communications sites , and accordingly , reflect these sites in the allocation of purchase price and the consolidated operating results .

the following table summarizes the preliminary allocation of the aggregate purchase price consideration paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition ( in thousands ) : preliminary purchase price allocation .

( 1 ) consists of customer-related intangibles of approximately $ 36.5 million and network location intangibles of approximately $ 27.0 million .

( 2 ) the company expects that the goodwill recorded will be not be deductible for tax purposes .

germany acquisition 2014on november 14 , 2012 , the company entered into a definitive agreement to purchase communications sites from e-plus mobilfunk gmbh & co .

on december 4 , 2012 , the company completed the purchase of 2031 communications sites , for an aggregate purchase price of $ 525.7 million. .

Question: for the mtn group acquisition , what was the cost per tower ? .

Answer: 180041.58004


Question: for the mtn deal , what was the total post closing adjustments , in millions?

Answer: 1.7


notes to consolidated financial statements note 12 .

other assets other assets are generally less liquid , non-financial assets .

the table below presents other assets by type. .

net of accumulated depreciation and amortization of $ 9.05 billion and $ 8.46 billion as of december 2012 and december 2011 , respectively .

includes $ 149 million of intangible assets classified as held for sale .

see note 13 for further information about goodwill and identifiable intangible assets .

see note 24 for further information about income taxes .

excludes investments accounted for at fair value under the fair value option where the firm would otherwise apply the equity method of accounting of $ 5.54 billion and $ 4.17 billion as of december 2012 and december 2011 , respectively , which are included in 201cfinancial instruments owned , at fair value . 201d the firm has generally elected the fair value option for such investments acquired after the fair value option became available .

includes $ 16.77 billion of assets related to the firm 2019s reinsurance business which were classified as held for sale as of december 2012 .

assets held for sale in the fourth quarter of 2012 , the firm classified its reinsurance business within its institutional client services segment as held for sale .

assets related to this business of $ 16.92 billion , consisting primarily of available-for-sale securities and separate account assets at fair value , are included in 201cother assets . 201d liabilities related to the business of $ 14.62 billion are included in 201cother liabilities and accrued expenses . 201d see note 8 for further information about insurance-related assets and liabilities held for sale at fair value .

the firm expects to complete the sale of a majority stake in its reinsurance business in 2013 and does not expect to recognize a material gain or loss upon the sale .

upon completion of the sale , the firm will no longer consolidate this business .

property , leasehold improvements and equipment property , leasehold improvements and equipment included $ 6.20 billion and $ 6.48 billion as of december 2012 and december 2011 , respectively , related to property , leasehold improvements and equipment that the firm uses in connection with its operations .

the remainder is held by investment entities , including vies , consolidated by the firm .

substantially all property and equipment are depreciated on a straight-line basis over the useful life of the asset .

leasehold improvements are amortized on a straight-line basis over the useful life of the improvement or the term of the lease , whichever is shorter .

certain costs of software developed or obtained for internal use are capitalized and amortized on a straight-line basis over the useful life of the software .

property , leasehold improvements and equipment are tested for impairment whenever events or changes in circumstances suggest that an asset 2019s or asset group 2019s carrying value may not be fully recoverable .

the firm 2019s policy for impairment testing of property , leasehold improvements and equipment is the same as is used for identifiable intangible assets with finite lives .

1	in millions	as of december 2012	as of december 2011

2	property leasehold improvements andequipment1	$ 8217	$ 8697

3	goodwill and identifiable intangibleassets2	5099	5468

4	income tax-related assets3	5620	5017

5	equity-method investments4	453	664

6	miscellaneous receivables and other5	20234	3306

7	total	$ 39623	$ 23152

Question: what percentage of total other assets in 2012 was comprised of goodwill and identifiable intangible assets?

Answer: 0.12869


net of accumulated depreciation and amortization of $ 9.05 billion and $ 8.46 billion as of december 2012 and december 2011 , respectively .

includes $ 149 million of intangible assets classified as held for sale .

see note 13 for further information about goodwill and identifiable intangible assets .

see note 24 for further information about income taxes .

excludes investments accounted for at fair value under the fair value option where the firm would otherwise apply the equity method of accounting of $ 5.54 billion and $ 4.17 billion as of december 2012 and december 2011 , respectively , which are included in 201cfinancial instruments owned , at fair value . 201d the firm has generally elected the fair value option for such investments acquired after the fair value option became available .

includes $ 16.77 billion of assets related to the firm 2019s reinsurance business which were classified as held for sale as of december 2012 .

assets held for sale in the fourth quarter of 2012 , the firm classified its reinsurance business within its institutional client services segment as held for sale .

assets related to this business of $ 16.92 billion , consisting primarily of available-for-sale securities and separate account assets at fair value , are included in 201cother assets . 201d liabilities related to the business of $ 14.62 billion are included in 201cother liabilities and accrued expenses . 201d see note 8 for further information about insurance-related assets and liabilities held for sale at fair value .

the firm expects to complete the sale of a majority stake in its reinsurance business in 2013 and does not expect to recognize a material gain or loss upon the sale .

upon completion of the sale , the firm will no longer consolidate this business .

property , leasehold improvements and equipment property , leasehold improvements and equipment included $ 6.20 billion and $ 6.48 billion as of december 2012 and december 2011 , respectively , related to property , leasehold improvements and equipment that the firm uses in connection with its operations .

the remainder is held by investment entities , including vies , consolidated by the firm .

substantially all property and equipment are depreciated on a straight-line basis over the useful life of the asset .

leasehold improvements are amortized on a straight-line basis over the useful life of the improvement or the term of the lease , whichever is shorter .

certain costs of software developed or obtained for internal use are capitalized and amortized on a straight-line basis over the useful life of the software .

property , leasehold improvements and equipment are tested for impairment whenever events or changes in circumstances suggest that an asset 2019s or asset group 2019s carrying value may not be fully recoverable .

the firm 2019s policy for impairment testing of property , leasehold improvements and equipment is the same as is used for identifiable intangible assets with finite lives .

Question: what percentage of total other assets in 2011 was comprised of goodwill and identifiable intangible assets?

Answer: 0.23618


management 2019s financial discussion and analysis 2010 compared to 2009 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges ( credits ) .

following is an analysis of the change in net revenue comparing 2010 to 2009 .

the volume/weather variance is primarily due to an increase of 1046 gwh , or 8% ( 8 % ) , in billed electricity usage in all sectors , primarily due to the effect of more favorable weather on the residential sector .

gross operating revenues , fuel and purchased power expenses , and other regulatory charges ( credits ) gross operating revenues increased primarily due to an increase of $ 22 million in power management rider revenue as the result of higher rates , the volume/weather variance discussed above , and an increase in grand gulf rider revenue as a result of higher rates and increased usage , offset by a decrease of $ 23.5 million in fuel cost recovery revenues due to lower fuel rates .

fuel and purchased power expenses decreased primarily due to a decrease in deferred fuel expense as a result of prior over-collections , offset by an increase in the average market price of purchased power coupled with increased net area demand .

other regulatory charges increased primarily due to increased recovery of costs associated with the power management recovery rider .

other income statement variances 2011 compared to 2010 other operation and maintenance expenses decreased primarily due to : a $ 5.4 million decrease in compensation and benefits costs primarily resulting from an increase in the accrual for incentive-based compensation in 2010 and a decrease in stock option expense ; and the sale of $ 4.9 million of surplus oil inventory .

the decrease was partially offset by an increase of $ 3.9 million in legal expenses due to the deferral in 2010 of certain litigation expenses in accordance with regulatory treatment .

taxes other than income taxes increased primarily due to an increase in ad valorem taxes due to a higher 2011 assessment as compared to 2010 , partially offset by higher capitalized property taxes as compared with prior year .

depreciation and amortization expenses increased primarily due to an increase in plant in service .

interest expense decreased primarily due to a revision caused by ferc 2019s acceptance of a change in the treatment of funds received from independent power producers for transmission interconnection projects. .

1		amount ( in millions )

2	2009 net revenue	$ 536.7

3	volume/weather	18.9

4	other	-0.3 ( 0.3 )

5	2010 net revenue	$ 555.3

Question: what is the average price of the increased electricity usage per gwh?

Answer: 18068.83365


Question: what was the percentage change in net revenue in 2011

Answer: 555.3