2014 compared to 2013 mst 2019s net sales decreased $ 305 million , or 3% ( 3 % ) , in 2014 as compared to 2013 .

net sales decreased by approximately $ 305 million due to the wind-down or completion of certain c4isr programs ( primarily ptds ) ; about $ 85 million for undersea systems programs due to decreased volume and deliveries ; and about $ 55 million related to the settlements of contract cost matters on certain programs in 2013 that were not repeated in 2014 ( including a portion of the terminated presidential helicopter program ) .

the decreases were partially offset by higher net sales of approximately $ 80 million for integrated warfare systems and sensors programs due to increased volume ( primarily space fence ) ; and approximately $ 40 million for training and logistics solutions programs due to increased deliveries ( primarily close combat tactical trainer ) .

mst 2019s operating profit decreased $ 129 million , or 12% ( 12 % ) , in 2014 as compared to 2013 .

the decrease was primarily attributable to lower operating profit of approximately $ 120 million related to the settlements of contract cost matters on certain programs in 2013 that were not repeated in 2014 ( including a portion of the terminated presidential helicopter program ) ; approximately $ 55 million due to the reasons described above for lower c4isr program sales , as well as performance matters on an international program ; and approximately $ 45 million due to higher reserves recorded on certain training and logistics solutions programs .

the decreases were partially offset by higher operating profit of approximately $ 45 million for performance matters and reserves recorded in 2013 that were not repeated in 2014 ; and about $ 60 million for various programs due to increased risk retirements ( including mh-60 and radar surveillance programs ) .

adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 85 million lower for 2014 compared to 2013 .

backlog backlog increased in 2015 compared to 2014 primarily due to the addition of sikorsky backlog , as well as higher orders on new program starts ( such as australian defence force pilot training system ) .

backlog increased in 2014 compared to 2013 primarily due to higher orders on new program starts ( such as space fence ) .

trends we expect mst 2019s 2016 net sales to increase in the mid-double digit percentage range compared to 2015 net sales due to the inclusion of sikorsky programs for a full year , partially offset by a decline in volume due to the wind-down or completion of certain programs .

operating profit is expected to be equivalent to 2015 on higher volume , and operating margin is expected to decline due to costs associated with the sikorsky acquisition , including the impact of purchase accounting adjustments , integration costs and inherited restructuring costs associated with actions committed to by sikorsky prior to acquisition .

space systems our space systems business segment is engaged in the research and development , design , engineering and production of satellites , strategic and defensive missile systems and space transportation systems .

space systems provides network-enabled situational awareness and integrates complex global systems to help our customers gather , analyze , and securely distribute critical intelligence data .

space systems is also responsible for various classified systems and services in support of vital national security systems .

space systems 2019 major programs include the trident ii d5 fleet ballistic missile ( fbm ) , orion , space based infrared system ( sbirs ) , aehf , gps-iii , geostationary operational environmental satellite r-series ( goes-r ) , and muos .

operating profit for our space systems business segment includes our share of earnings for our investment in ula , which provides expendable launch services to the u.s .

space systems 2019 operating results included the following ( in millions ) : .

2015 compared to 2014 space systems 2019 net sales in 2015 decreased $ 97 million , or 1% ( 1 % ) , compared to 2014 .

the decrease was attributable to approximately $ 335 million lower net sales for government satellite programs due to decreased volume ( primarily aehf ) and the wind-down or completion of mission solutions programs ; and approximately $ 55 million for strategic missile and defense systems due to lower volume .

these decreases were partially offset by higher net sales of approximately $ 235 million for businesses acquired in 2014 ; and approximately $ 75 million for the orion program due to increased volume. .

Question: what was the average backlog at year-end from 2013 to 2015

Answer: 19700.0


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

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

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

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

these disclosure provisions expand those required by sfas no .

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

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

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

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

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

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

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

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

45 , intellectual property indemnifications require disclosure only .

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

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

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

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

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

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

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

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

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

1	fiscal year ending march 31,	operating leases

2	2007	1703

3	2008	1371

4	2009	1035

5	2010	710

6	total future minimum lease payments	$ 4819

Question: what is the decline from current future minimum lease payments and the following years expected obligation?\\n

Answer: 0.19495


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

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

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

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

these disclosure provisions expand those required by sfas no .

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

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

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

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

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

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

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

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

45 , intellectual property indemnifications require disclosure only .

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

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

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

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

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

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

Question: the non-recurring charge for the office facility closing was what percent of lease expense in 2006?

Answer: 0.04596


during 2015 , $ 82 million of provision recapture was recorded for purchased impaired loans compared to $ 91 million of provision recapture during 2014 .

charge-offs ( which were specifically for commercial loans greater than a defined threshold ) during 2015 were $ 12 million compared to $ 42 million during 2014 .

at december 31 , 2015 and december 31 , 2014 , the alll on total purchased impaired loans was $ .3 billion and $ .9 billion , respectively .

the decline in alll was primarily due to the change in our derecognition policy .

for purchased impaired loan pools where an allowance has been recognized , subsequent increases in the net present value of cash flows will result in a provision recapture of any previously recorded alll to the extent applicable , and/or a reclassification from non-accretable difference to accretable yield , which will be recognized prospectively .

individual loan transactions where final dispositions have occurred ( as noted above ) result in removal of the loans from their applicable pools for cash flow estimation purposes .

the cash flow re- estimation process is completed quarterly to evaluate the appropriateness of the alll associated with the purchased impaired loans .

activity for the accretable yield during 2015 and 2014 follows : table 66 : purchased impaired loans 2013 accretable yield .

note 5 allowances for loan and lease losses and unfunded loan commitments and letters of credit allowance for loan and lease losses we maintain the alll at levels that we believe to be appropriate to absorb estimated probable credit losses incurred in the portfolios as of the balance sheet date .

we use the two main portfolio segments 2013 commercial lending and consumer lending 2013 and develop and document the alll under separate methodologies for each of these segments as discussed in note 1 accounting policies .

a rollforward of the alll and associated loan data follows .

the pnc financial services group , inc .

1	in millions	2015	2014

2	january 1	$ 1558	$ 2055

3	accretion ( including excess cash recoveries )	-466 ( 466 )	-587 ( 587 )

4	net reclassifications to accretable from non-accretable	226	208

5	disposals	-68 ( 68 )	-118 ( 118 )

6	december 31	$ 1250	$ 1558

Question: for 2015 and 2014 , what was the average in millions for provision recapture for purchased impaired loans?

Answer: 86.5


management 2019s discussion and analysis of financial condition and results of operations indemnification provisions : in addition , the company may provide indemnifications for losses that result from the breach of general warranties contained in certain commercial , intellectual property and divestiture agreements .

historically , the company has not made significant payments under these agreements , nor have there been significant claims asserted against the company .

however , there is an increasing risk in relation to intellectual property indemnities given the current legal climate .

in indemnification cases , payment by the company is conditioned on the other party making a claim pursuant to the procedures specified in the particular contract , which procedures typically allow the company to challenge the other party 2019s claims .

further , the company 2019s obligations under these agreements for indemnification based on breach of representations and warranties are generally limited in terms of duration , typically not more than 24 months , and for amounts not in excess of the contract value , and in some instances the company may have recourse against third parties for certain payments made by the company .

legal matters : the company is a defendant in various lawsuits , claims and actions , which arise in the normal course of business .

in the opinion of management , the ultimate disposition of these matters will not have a material adverse effect on the company 2019s consolidated financial position , liquidity or results of operations .

segment information the following commentary should be read in conjunction with the financial results of each operating business segment as detailed in note 12 , 2018 2018information by segment and geographic region , 2019 2019 to the company 2019s consolidated financial statements .

net sales and operating results for the company 2019s three operating business segments for 2009 , 2008 and 2007 are presented below .

mobile devices segment the mobile devices segment designs , manufactures , sells and services wireless handsets , including smartphones , with integrated software and accessory products , and licenses intellectual property .

in 2009 , the segment 2019s net sales represented 32% ( 32 % ) of the company 2019s consolidated net sales , compared to 40% ( 40 % ) in 2008 and 52% ( 52 % ) in 2007. .

segment results 20142009 compared to 2008 in 2009 , the segment 2019s net sales were $ 7.1 billion , a decrease of 41% ( 41 % ) compared to net sales of $ 12.1 billion in 2008 .

the 41% ( 41 % ) decrease in net sales was primarily driven by a 45% ( 45 % ) decrease in unit shipments , partially offset by an 8% ( 8 % ) increase in average selling price ( 2018 2018asp 2019 2019 ) .

the segment 2019s net sales were negatively impacted by reduced product offerings in large market segments , particularly 3g products , including smartphones , and the segment 2019s limited product offerings in very low-tier products .

on a product technology basis , net sales decreased substantially for gsm , cdma and 3g technologies , partially offset by an increase in net sales for iden technology .

on a geographic basis , net sales decreased substantially in latin america , the europe , middle east and african region ( 2018 2018emea 2019 2019 ) and asia and , to a lesser extent , decreased in north america .

the segment incurred an operating loss of $ 1.1 billion in 2009 , an improvement of 51% ( 51 % ) compared to an operating loss of $ 2.2 billion in 2008 .

the decrease in the operating loss was primarily due to decreases in : ( i ) selling , general and administrative ( 2018 2018sg&a 2019 2019 ) expenses , primarily due to lower marketing expenses and savings from cost-reduction initiatives , ( ii ) research and development ( 2018 2018r&d 2019 2019 ) expenditures , reflecting savings from cost-reduction initiatives , ( iii ) lower excess inventory and other related charges in 2009 than in 2008 , when the charges included a $ 370 million charge due to a decision to consolidate software and silicon platforms , and ( iv ) the absence in 2009 of a comparable $ 150 million charge in 2008 related to settlement of a purchase commitment , partially offset by a decrease in gross margin , driven by the 41% ( 41 % ) decrease in net sales .

as a percentage of net sales in 2009 as compared to 2008 , gross margin and r&d expenditures increased and sg&a expenses decreased .

the segment 2019s industry typically experiences short life cycles for new products .

therefore , it is vital to the segment 2019s success that new , compelling products are continually introduced .

Question: in 2009 what was the company 2019s consolidated net sales in billions

Answer: 22.1875


Question: what was the ratio of the segment net sales in 2008 to 2009

Answer: 1.69312


market price and dividends d u k e r e a l t y c o r p o r a t i o n 3 8 2 0 0 2 a n n u a l r e p o r t the company 2019s common shares are listed for trading on the new york stock exchange , symbol dre .

the following table sets forth the high and low sales prices of the common stock for the periods indicated and the dividend paid per share during each such period .

comparable cash dividends are expected in the future .

on january 29 , 2003 , the company declared a quarterly cash dividend of $ .455 per share , payable on february 28 , 2003 , to common shareholders of record on february 14 , 2003. .

Question: what is the percent change in quarterly cash dividend for the period ended march 31 2002 to the period ended march 31 2003?

Answer: 1.11111


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 28 , 2013 to december 29 , 2018 ( 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 28 , 2013 , 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: what was the percentage growth of the stock price performance from 2013 to 2014 for the tractor supply company

Answer: 0.0411


middleton's reported cigars shipment volume for 2012 decreased 0.7% ( 0.7 % ) due primarily to changes in trade inventories , partially offset by volume growth as a result of retail share gains .

in the cigarette category , marlboro's 2012 retail share performance continued to benefit from the brand-building initiatives supporting marlboro's new architecture .

marlboro's retail share for 2012 increased 0.6 share points versus 2011 to 42.6% ( 42.6 % ) .

in january 2013 , pm usa expanded distribution of marlboro southern cut nationally .

marlboro southern cut is part of the marlboro gold family .

pm usa's 2012 retail share increased 0.8 share points versus 2011 , reflecting retail share gains by marlboro and by l&m in discount .

these gains were partially offset by share losses on other portfolio brands .

in the machine-made large cigars category , black & mild's retail share for 2012 increased 0.5 share points .

the brand benefited from new untipped cigarillo varieties that were introduced in 2011 , black & mild seasonal offerings and the 2012 third-quarter introduction of black & mild jazz untipped cigarillos into select geographies .

in december 2012 , middleton announced plans to launch nationally black & mild jazz cigars in both plastic tip and wood tip in the first quarter of 2013 .

the following discussion compares smokeable products segment results for the year ended december 31 , 2011 with the year ended december 31 , 2010 .

net revenues , which include excise taxes billed to customers , decreased $ 221 million ( 1.0% ( 1.0 % ) ) due to lower shipment volume ( $ 1051 million ) , partially offset by higher net pricing ( $ 830 million ) , which includes higher promotional investments .

operating companies income increased $ 119 million ( 2.1% ( 2.1 % ) ) , due primarily to higher net pricing ( $ 831 million ) , which includes higher promotional investments , marketing , administration , and research savings reflecting cost reduction initiatives ( $ 198 million ) and 2010 implementation costs related to the closure of the cabarrus , north carolina manufacturing facility ( $ 75 million ) , partially offset by lower volume ( $ 527 million ) , higher asset impairment and exit costs due primarily to the 2011 cost reduction program ( $ 158 million ) , higher per unit settlement charges ( $ 120 million ) , higher charges related to tobacco and health judgments ( $ 87 million ) and higher fda user fees ( $ 73 million ) .

for 2011 , total smokeable products shipment volume decreased 4.0% ( 4.0 % ) versus 2010 .

pm usa's reported domestic cigarettes shipment volume declined 4.0% ( 4.0 % ) versus 2010 due primarily to retail share losses and one less shipping day , partially offset by changes in trade inventories .

after adjusting for changes in trade inventories and one less shipping day , pm usa's 2011 domestic cigarette shipment volume was estimated to be down approximately 4% ( 4 % ) versus 2010 .

pm usa believes that total cigarette category volume for 2011 decreased approximately 3.5% ( 3.5 % ) versus 2010 , when adjusted primarily for changes in trade inventories and one less shipping day .

pm usa's total premium brands ( marlboro and other premium brands ) shipment volume decreased 4.3% ( 4.3 % ) .

marlboro's shipment volume decreased 3.8% ( 3.8 % ) versus 2010 .

in the discount brands , pm usa's shipment volume decreased 0.9% ( 0.9 % ) .

pm usa's shipments of premium cigarettes accounted for 93.7% ( 93.7 % ) of its reported domestic cigarettes shipment volume for 2011 , down from 93.9% ( 93.9 % ) in 2010 .

middleton's 2011 reported cigars shipment volume was unchanged versus 2010 .

for 2011 , pm usa's retail share of the cigarette category declined 0.8 share points to 49.0% ( 49.0 % ) due primarily to retail share losses on marlboro .

marlboro's 2011 retail share decreased 0.6 share points .

in 2010 , marlboro delivered record full-year retail share results that were achieved at lower margin levels .

middleton retained a leading share of the tipped cigarillo segment of the machine-made large cigars category , with a retail share of approximately 84% ( 84 % ) in 2011 .

for 2011 , middleton's retail share of the cigar category increased 0.3 share points to 29.7% ( 29.7 % ) versus 2010 .

black & mild's 2011 retail share increased 0.5 share points , as the brand benefited from new product introductions .

during the fourth quarter of 2011 , middleton broadened its untipped cigarillo portfolio with new aroma wrap 2122 foil pouch packaging that accompanied the national introduction of black & mild wine .

this new fourth- quarter packaging roll-out also included black & mild sweets and classic varieties .

during the second quarter of 2011 , middleton entered into a contract manufacturing arrangement to source the production of a portion of its cigars overseas .

middleton entered into this arrangement to access additional production capacity in an uncertain competitive environment and an excise tax environment that potentially benefits imported large cigars over those manufactured domestically .

smokeless products segment the smokeless products segment's operating companies income grew during 2012 driven by higher pricing , copenhagen and skoal's combined volume and retail share performance and effective cost management .

the following table summarizes smokeless products segment shipment volume performance : shipment volume for the years ended december 31 .

volume includes cans and packs sold , as well as promotional units , but excludes international volume , which is not material to the smokeless products segment .

other includes certain usstc and pm usa smokeless products .

new types of smokeless products , as well as new packaging configurations .

1	( cans and packs in millions )	shipment volumefor the years ended december 31 , 2012	shipment volumefor the years ended december 31 , 2011	shipment volumefor the years ended december 31 , 2010

2	copenhagen	392.5	354.2	327.5

3	skoal	288.4	286.8	274.4

4	copenhagenandskoal	680.9	641.0	601.9

5	other	82.4	93.6	122.5

6	total smokeless products	763.3	734.6	724.4

Question: what is the growth rate in total shipment volume from 2011 to 2012?

Answer: 0.03907


management's financial discussion and analysis gross operating revenues , fuel and purchased power expenses , and other regulatory credits gross operating revenues increased primarily due to : 2022 an increase of $ 98.0 million in fuel cost recovery revenues due to higher fuel rates ; and 2022 an increase due to volume/weather , as discussed above .

the increase was partially offset by the following : 2022 a decrease of $ 31.9 million in the price applied to unbilled sales , as discussed above ; 2022 a decrease of $ 12.2 million in rate refund provisions , as discussed above ; and 2022 a decrease of $ 5.2 million in gross wholesale revenue due to decreased sales to affiliated systems .

fuel and purchased power expenses increased primarily due to : 2022 an increase in the recovery from customers of deferred fuel costs ; and 2022 an increase in the market price of natural gas .

other regulatory credits increased primarily due to : 2022 the deferral in 2004 of $ 14.3 million of capacity charges related to generation resource planning as allowed by the lpsc ; 2022 the amortization in 2003 of $ 11.8 million of deferred capacity charges , as discussed above ; and 2022 the deferral in 2004 of $ 11.4 million related to entergy's voluntary severance program , in accordance with a proposed stipulation with the lpsc staff .

2003 compared to 2002 net revenue , which is entergy louisiana's measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory charges ( credits ) .

following is an analysis of the change in net revenue comparing 2003 to 2002. .

the deferred fuel cost revisions variance resulted from a revised unbilled sales pricing estimate made in december 2002 and a further revision made in the first quarter of 2003 to more closely align the fuel component of that pricing with expected recoverable fuel costs .

the asset retirement obligation variance was due to the implementation of sfas 143 , "accounting for asset retirement obligations" adopted in january 2003 .

see "critical accounting estimates" for more details on sfas 143 .

the increase was offset by decommissioning expense and had no effect on net income .

the volume variance was due to a decrease in electricity usage in the service territory .

billed usage decreased 1868 gwh in the industrial sector including the loss of a large industrial customer to cogeneration. .

1		( in millions )

2	2002 net revenue	$ 922.9

3	deferred fuel cost revisions	59.1

4	asset retirement obligation	8.2

5	volume	-16.2 ( 16.2 )

6	vidalia settlement	-9.2 ( 9.2 )

7	other	8.9

8	2003 net revenue	$ 973.7

Question: what is the increase in other regulatory credits as a percentage of net revenue in 2003?

Answer: 0.03851


Question: what are the deferred fuel cost revisions as a percentage of the increase in fuel cost recovery revenues?

Answer: 0.60306


entergy corporation and subsidiaries notes to financial statements ( a ) consists of pollution control revenue bonds and environmental revenue bonds , some of which are secured by collateral first mortgage bonds .

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

( c ) pursuant to the nuclear waste policy act of 1982 , entergy 2019s 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 debt .

( d ) see note 10 to the financial statements for further discussion of the waterford 3 and grand gulf lease obligations .

( e ) the fair value excludes lease obligations of $ 109 million at entergy louisiana and $ 34 million at system energy , long-term doe obligations of $ 181 million at entergy arkansas , and the note payable to nypa of $ 35 million at entergy , and includes debt due within one year .

fair values are classified as level 2 in the fair value hierarchy discussed in note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades .

the annual long-term debt maturities ( excluding lease obligations and long-term doe obligations ) for debt outstanding as of december 31 , 2015 , for the next five years are as follows : amount ( in thousands ) .

in november 2000 , entergy 2019s 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 .

in accordance with the purchase agreement with nypa , the purchase of indian point 2 in 2001 resulted in entergy 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 .

as part of the purchase agreement with nypa , entergy recorded a liability representing the net present value of the payments entergy would be liable to nypa for each year that the fitzpatrick and indian point 3 power plants would run beyond their respective original nrc license expiration date .

with the planned shutdown of fitzpatrick at the end of its current fuel cycle , entergy reduced this liability by $ 26.4 million in 2015 pursuant to the terms of the purchase agreement .

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

entergy louisiana , entergy mississippi , entergy texas , and system energy have obtained long-term financing authorizations from the ferc that extend through october 2017 .

entergy arkansas has obtained long-term financing authorization from the apsc that extends through december 2018 .

entergy new orleans has obtained long-term financing authorization from the city council that extends through july 2016 .

capital funds agreement pursuant to an agreement with certain creditors , entergy corporation has agreed to supply system energy with sufficient capital to: .

Question: what is the percent change in annual long-term debt maturities from 2016 to 2017?

Answer: 2.75566


38 2013 ppg annual report and form 10-k notes to the consolidated financial statements 1 .

summary of significant accounting policies principles of consolidation the accompanying consolidated financial statements include the accounts of ppg industries , inc .

( 201cppg 201d or the 201ccompany 201d ) and all subsidiaries , both u.s .

ppg owns more than 50% ( 50 % ) of the voting stock of most of the subsidiaries that it controls .

for those consolidated subsidiaries in which the company 2019s ownership is less than 100% ( 100 % ) , the outside shareholders 2019 interests are shown as noncontrolling interests .

investments in companies in which ppg owns 20% ( 20 % ) to 50% ( 50 % ) of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting .

as a result , ppg 2019s share of the earnings or losses of such equity affiliates is included in the accompanying consolidated statement of income and ppg 2019s share of these companies 2019 shareholders 2019 equity is included in "investments" in the accompanying consolidated balance sheet .

transactions between ppg and its subsidiaries are eliminated in consolidation .

use of estimates in the preparation of financial statements the preparation of financial statements in conformity with u.s .

generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported amounts of income and expenses during the reporting period .

such estimates also include the fair value of assets acquired and liabilities assumed as a result of allocations of purchase price of business combinations consummated .

actual outcomes could differ from those estimates .

revenue recognition the company recognizes revenue when the earnings process is complete .

revenue from sales is recognized by all operating segments when goods are shipped and title to inventory and risk of loss passes to the customer or when services have been rendered .

shipping and handling costs amounts billed to customers for shipping and handling are reported in 201cnet sales 201d in the accompanying consolidated statement of income .

shipping and handling costs incurred by the company for the delivery of goods to customers are included in 201ccost of sales , exclusive of depreciation and amortization 201d in the accompanying consolidated statement of income .

selling , general and administrative costs amounts presented as 201cselling , general and administrative 201d in the accompanying consolidated statement of income are comprised of selling , customer service , distribution and advertising costs , as well as the costs of providing corporate- wide functional support in such areas as finance , law , human resources and planning .

distribution costs pertain to the movement and storage of finished goods inventory at company- owned and leased warehouses , terminals and other distribution facilities .

advertising costs advertising costs are expensed in the year incurred and totaled $ 345 million , $ 288 million and $ 245 million in 2013 , 2012 and 2011 , respectively .

research and development research and development costs , which consist primarily of employee related costs , are charged to expense as incurred .

the following are the research and development costs for the years ended december 31: .

legal costs legal costs are expensed as incurred .

legal costs incurred by ppg include legal costs associated with acquisition and divestiture transactions , general litigation , environmental regulation compliance , patent and trademark protection and other general corporate purposes .

foreign currency translation the functional currency of most significant non-u.s .

assets and liabilities of those operations are translated into u.s .

dollars using year-end exchange rates ; income and expenses are translated using the average exchange rates for the reporting period .

unrealized foreign currency translation adjustments are deferred in accumulated other comprehensive loss , a separate component of shareholders 2019 equity .

cash equivalents cash equivalents are highly liquid investments ( valued at cost , which approximates fair value ) acquired with an original maturity of three months or less .

short-term investments short-term investments are highly liquid , high credit quality investments ( valued at cost plus accrued interest ) that have stated maturities of greater than three months to one year .

the purchases and sales of these investments are classified as investing activities in the consolidated statement of cash flows .

marketable equity securities the company 2019s investment in marketable equity securities is recorded at fair market value and reported in 201cother current assets 201d and 201cinvestments 201d in the accompanying consolidated balance sheet with changes in fair market value recorded in income for those securities designated as trading securities and in other comprehensive income , net of tax , for those designated as available for sale securities. .

1	( millions )	2013	2012	2011

2	research and development 2013 total	$ 505	$ 468	$ 443

3	less depreciation on research facilities	17	15	15

4	research and development net	$ 488	$ 453	$ 428

Question: what was the percentage change in research and development net from 2011 to 2012?

Answer: 0.05841


management's financial discussion and analysis net revenue 2008 compared to 2007 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges .

following is an analysis of the change in net revenue comparing 2008 to 2007 .

the volume/weather variance is due to an increase in electricity usage in the service territory in 2008 compared to the same period in 2007 .

entergy new orleans estimates that approximately 141000 electric customers and 93000 gas customers have returned since hurricane katrina and are taking service as of december 31 , 2008 , compared to approximately 132000 electric customers and 86000 gas customers as of december 31 , 2007 .

billed retail electricity usage increased a total of 184 gwh compared to the same period in 2007 , an increase of 4% ( 4 % ) .

the net gas revenue variance is primarily due to an increase in base rates in march and november 2007 .

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

the rider revenue variance is due primarily to higher total revenue and a storm reserve rider effective march 2007 as a result of the city council's approval of a settlement agreement in october 2006 .

the approved storm reserve has been set to collect $ 75 million over a ten-year period through the rider and the funds will be held in a restricted escrow account .

the settlement agreement is discussed in note 2 to the financial statements .

the base revenue variance is primarily due to a base rate recovery credit , effective january 2008 .

the base rate credit is discussed in note 2 to the financial statements .

gross operating revenues and fuel and purchased power expenses gross operating revenues increased primarily due to : an increase of $ 58.9 million in gross wholesale revenue due to increased sales to affiliated customers and an increase in the average price of energy available for resale sales ; an increase of $ 47.7 million in electric fuel cost recovery revenues due to higher fuel rates and increased electricity usage ; and an increase of $ 22 million in gross gas revenues due to higher fuel recovery revenues and increases in gas base rates in march 2007 and november 2007 .

fuel and purchased power increased primarily due to increases in the average market prices of natural gas and purchased power in addition to an increase in demand. .

1		amount ( in millions )

2	2007 net revenue	$ 231.0

3	volume/weather	15.5

4	net gas revenue	6.6

5	rider revenue	3.9

6	base revenue	-11.3 ( 11.3 )

7	other	7.0

8	2008 net revenue	$ 252.7

Question: what percent of the change between net revenue in 2007 and 2008 was due to rider revenue?

Answer: 0.17972


unresolved staff comments not applicable .

properties as of december 28 , 2013 , our major facilities consisted of : ( square feet in millions ) united states countries total owned facilities1 29.9 16.7 46.6 leased facilities2 2.3 6.0 8.3 .

1 leases on portions of the land used for these facilities expire on varying dates through 2062 .

2 leases expire on varying dates through 2028 and generally include renewals at our option .

our principal executive offices are located in the u.s .

and a significant amount of our wafer fabrication activities are also located in the u.s .

in addition to our current facilities , we are building a development fabrication facility in oregon which began r&d start-up in 2013 .

we expect that this new facility will allow us to widen our process technology lead .

we also completed construction of a large-scale fabrication building in arizona in 2013 , which is currently not in use and is not being depreciated .

we recently announced that we plan to delay equipment installation in this building and leverage existing fabrication facilities , reserving this new facility for additional capacity and future technologies .

outside the u.s. , we have wafer fabrication facilities in israel , china , and ireland .

our fabrication facility in ireland is currently transitioning to a newer process technology node , with manufacturing expected to recommence in 2015 .

our assembly and test facilities are located in malaysia , china , costa rica , and vietnam .

in addition , we have sales and marketing offices worldwide that are generally located near major concentrations of customers .

we believe that the facilities described above are suitable and adequate for our present purposes and that the productive capacity in our facilities is substantially being utilized or we have plans to utilize it .

we do not identify or allocate assets by operating segment .

for information on net property , plant and equipment by country , see 201cnote 27 : operating segments and geographic information 201d in part ii , item 8 of this form 10-k .

legal proceedings for a discussion of legal proceedings , see 201cnote 26 : contingencies 201d in part ii , item 8 of this form 10-k .

mine safety disclosures not applicable .

1	( square feet in millions )	unitedstates	othercountries	total

2	owned facilities1	29.9	16.7	46.6

3	leased facilities2	2.3	6.0	8.3

4	total facilities	32.2	22.7	54.9

Question: what percentage of major facilities by square footage are owned as of december 28 , 2013?

Answer: 0.84882


1 leases on portions of the land used for these facilities expire on varying dates through 2062 .

2 leases expire on varying dates through 2028 and generally include renewals at our option .

our principal executive offices are located in the u.s .

and a significant amount of our wafer fabrication activities are also located in the u.s .

in addition to our current facilities , we are building a development fabrication facility in oregon which began r&d start-up in 2013 .

we expect that this new facility will allow us to widen our process technology lead .

we also completed construction of a large-scale fabrication building in arizona in 2013 , which is currently not in use and is not being depreciated .

we recently announced that we plan to delay equipment installation in this building and leverage existing fabrication facilities , reserving this new facility for additional capacity and future technologies .

outside the u.s. , we have wafer fabrication facilities in israel , china , and ireland .

our fabrication facility in ireland is currently transitioning to a newer process technology node , with manufacturing expected to recommence in 2015 .

our assembly and test facilities are located in malaysia , china , costa rica , and vietnam .

in addition , we have sales and marketing offices worldwide that are generally located near major concentrations of customers .

we believe that the facilities described above are suitable and adequate for our present purposes and that the productive capacity in our facilities is substantially being utilized or we have plans to utilize it .

we do not identify or allocate assets by operating segment .

for information on net property , plant and equipment by country , see 201cnote 27 : operating segments and geographic information 201d in part ii , item 8 of this form 10-k .

legal proceedings for a discussion of legal proceedings , see 201cnote 26 : contingencies 201d in part ii , item 8 of this form 10-k .

mine safety disclosures not applicable .

Question: what percentage of major facilities by square footage are leased as of december 28 , 2013?

Answer: 0.15118


five-year stock performance graph the graph below illustrates the cumulative total shareholder return on snap-on common stock since december 31 , 2007 , assuming that dividends were reinvested .

the graph compares snap-on 2019s performance to that of the standard & poor 2019s 500 stock index ( 201cs&p 500 201d ) and a peer group .

snap-on incorporated total shareholder return ( 1 ) fiscal year ended ( 2 ) snap-on incorporated peer group ( 3 ) s&p 500 .

( 1 ) assumes $ 100 was invested on december 31 , 2007 , and that dividends were reinvested quarterly .

( 2 ) the company's fiscal year ends on the saturday that is on or nearest to december 31 of each year ; for ease of calculation , the fiscal year end is assumed to be december 31 .

( 3 ) the peer group consists of : stanley black & decker , inc. , danaher corporation , emerson electric co. , genuine parts company , newell rubbermaid inc. , pentair ltd. , spx corporation and w.w .

cooper industries plc , a former member of the peer group , was removed , as it was acquired by a larger , non-comparable company in 2012 .

2012 annual report 23 snap-on incorporated peer group s&p 500 2007 2008 201120102009 2012 .

Question: what is the roi of s&p 500 from 2007 to 2012?

Answer: 0.0859


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

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

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

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

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

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

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

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

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

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

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

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

the presentation of free cash flow has material limitations .

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Question: what was the percentage change in proportional free cash flow between 2013 and 2014?

Answer: -0.29898


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

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

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

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

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

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

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

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

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

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

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

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

the presentation of free cash flow has material limitations .

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

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

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

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

Question: what was the percentage change in proportional free cash flow between 2014 and 2015?

Answer: 0.39282


management 2019s discussion and analysis of financial condition and results of operations we are a global integrated energy company with significant operations in the north america , africa and europe .

our operations are organized into four reportable segments : 2022 exploration and production ( 201ce&p 201d ) which explores for , produces and markets liquid hydrocarbons and natural gas on a worldwide basis .

2022 oil sands mining ( 201cosm 201d ) which mines , extracts and transports bitumen from oil sands deposits in alberta , canada , and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas 2022 integrated gas ( 201cig 201d ) which markets and transports products manufactured from natural gas , such as liquefied natural gas ( 201clng 201d ) and methanol , on a worldwide basis .

2022 refining , marketing & transportation ( 201crm&t 201d ) which refines , markets and transports crude oil and petroleum products , primarily in the midwest , upper great plains , gulf coast and southeastern regions of the united states .

certain sections of management 2019s discussion and analysis of financial condition and results of operations include forward-looking statements concerning trends or events potentially affecting our business .

these statements typically contain words such as 201canticipates , 201d 201cbelieves , 201d 201cestimates , 201d 201cexpects , 201d 201ctargets , 201d 201cplans , 201d 201cprojects , 201d 201ccould , 201d 201cmay , 201d 201cshould , 201d 201cwould 201d or similar words indicating that future outcomes are uncertain .

in accordance with 201csafe harbor 201d provisions of the private securities litigation reform act of 1995 , these statements are accompanied by cautionary language identifying important factors , though not necessarily all such factors , which could cause future outcomes to differ materially from those set forth in the forward-looking statements .

we hold a 60 percent interest in equatorial guinea lng holdings limited ( 201cegholdings 201d ) .

as discussed in note 4 to the consolidated financial statements , effective may 1 , 2007 , we ceased consolidating egholdings .

our investment is accounted for using the equity method of accounting .

unless specifically noted , amounts presented for the integrated gas segment for periods prior to may 1 , 2007 , include amounts related to the minority interests .

management 2019s discussion and analysis of financial condition and results of operations should be read in conjunction with the information under item 1 .

financial statements and supplementary data .

overview exploration and production prevailing prices for the various grades of crude oil and natural gas that we produce significantly impact our revenues and cash flows .

prices were volatile in 2009 , but not as much as in the previous year .

prices in 2009 were also lower than in recent years as illustrated by the annual averages for key benchmark prices below. .

henry hub natural gas ( dollars per mcf ) ( a ) $ 3.99 $ 9.04 $ 6.86 ( a ) first-of-month price index .

crude oil prices rose sharply through the first half of 2008 as a result of strong global demand , a declining dollar , ongoing concerns about supplies of crude oil , and geopolitical risk .

later in 2008 , crude oil prices sharply declined as the u.s .

dollar rebounded and global demand decreased as a result of economic recession .

the price decrease continued into 2009 , but reversed after dropping below $ 33.98 in february , ending the year at $ 79.36 .

our domestic crude oil production is about 62 percent sour , which means that it contains more sulfur than light sweet wti does .

sour crude oil also tends to be heavier than light sweet crude oil and sells at a discount to light sweet crude oil because of higher refining costs and lower refined product values .

our international crude oil production is relatively sweet and is generally sold in relation to the dated brent crude benchmark .

the differential between wti and dated brent average prices narrowed to $ 0.42 in 2009 compared to $ 2.49 in 2008 and $ 0.02 in 2007. .

1	benchmark	2009	2008	2007

2	wti crude oil ( dollars per barrel )	$ 62.09	$ 99.75	$ 72.41

3	dated brent crude oil ( dollars per barrel )	$ 61.67	$ 97.26	$ 72.39

4	henry hub natural gas ( dollars per mcf ) ( a )	$ 3.99	$ 9.04	$ 6.86

Question: by what percentage did the average henry hub natural gas benchmark decrease from 2007 to 2009?

Answer: -0.41837


market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our common stock on the new york stock exchange ( 201cnyse 201d ) for the years 2008 and 2007. .

on february 13 , 2009 , the closing price of our common stock was $ 28.85 per share as reported on the nyse .

as of february 13 , 2009 , we had 397097677 outstanding shares of common stock and 499 registered holders .

dividends we have never paid a dividend on our common stock .

we anticipate that we may retain future earnings , if any , to fund the development and growth of our business .

the indentures governing our 7.50% ( 7.50 % ) senior notes due 2012 ( 201c7.50% ( 201c7.50 % ) notes 201d ) and our 7.125% ( 7.125 % ) senior notes due 2012 ( 201c7.125% ( 201c7.125 % ) notes 201d ) may prohibit us from paying dividends to our stockholders unless we satisfy certain financial covenants .

the loan agreement for our revolving credit facility and term loan , and the indentures governing the terms of our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes contain covenants that restrict our ability to pay dividends unless certain financial covenants are satisfied .

in addition , while spectrasite and its subsidiaries are classified as unrestricted subsidiaries under the indentures for our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes , certain of spectrasite 2019s subsidiaries are subject to restrictions on the amount of cash that they can distribute to us under the loan agreement related to our securitization transaction .

for more information about the restrictions under the loan agreement for the revolving credit facility and term loan , our notes indentures and the loan agreement related to our securitization transaction , see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 6 to our consolidated financial statements included in this annual report. .

1	2008	high	low

2	quarter ended march 31	$ 42.72	$ 32.10

3	quarter ended june 30	46.10	38.53

4	quarter ended september 30	43.43	31.89

5	quarter ended december 31	37.28	19.35

6	2007	high	low

7	quarter ended march 31	$ 41.31	$ 36.63

8	quarter ended june 30	43.84	37.64

9	quarter ended september 30	45.45	36.34

10	quarter ended december 31	46.53	40.08

Question: what is the growth rate in the price of shares from the highest value during the quarter ended december 31 , 2008 and the closing price on february 13 , 2009?

Answer: 0.2922


the defined benefit pension plans 2019 trust and $ 130 million to our retiree medical plans which will reduce our cash funding requirements for 2007 and 2008 .

in 2007 , we expect to make no contributions to the defined benefit pension plans and expect to contribute $ 175 million to the retiree medical and life insurance plans , after giving consideration to the 2006 prepayments .

the following benefit payments , which reflect expected future service , as appropriate , are expected to be paid : ( in millions ) pension benefits benefits .

as noted previously , we also sponsor nonqualified defined benefit plans to provide benefits in excess of qualified plan limits .

the aggregate liabilities for these plans at december 31 , 2006 were $ 641 million .

the expense associated with these plans totaled $ 59 million in 2006 , $ 58 million in 2005 and $ 61 million in 2004 .

we also sponsor a small number of foreign benefit plans .

the liabilities and expenses associated with these plans are not material to our results of operations , financial position or cash flows .

note 13 2013 leases our total rental expense under operating leases was $ 310 million , $ 324 million and $ 318 million for 2006 , 2005 and 2004 , respectively .

future minimum lease commitments at december 31 , 2006 for all operating leases that have a remaining term of more than one year were $ 1.1 billion ( $ 288 million in 2007 , $ 254 million in 2008 , $ 211 million in 2009 , $ 153 million in 2010 , $ 118 million in 2011 and $ 121 million in later years ) .

certain major plant facilities and equipment are furnished by the u.s .

government under short-term or cancelable arrangements .

note 14 2013 legal proceedings , commitments and contingencies we are a party to or have property subject to litigation and other proceedings , including matters arising under provisions relating to the protection of the environment .

we believe the probability is remote that the outcome of these matters will have a material adverse effect on the corporation as a whole .

we cannot predict the outcome of legal proceedings with certainty .

these matters include the following items , all of which have been previously reported : on march 27 , 2006 , we received a subpoena issued by a grand jury in the united states district court for the northern district of ohio .

the subpoena requests documents related to our application for patents issued in the united states and the united kingdom relating to a missile detection and warning technology .

we are cooperating with the government 2019s investigation .

on february 6 , 2004 , we submitted a certified contract claim to the united states requesting contractual indemnity for remediation and litigation costs ( past and future ) related to our former facility in redlands , california .

we submitted the claim consistent with a claim sponsorship agreement with the boeing company ( boeing ) , executed in 2001 , in boeing 2019s role as the prime contractor on the short range attack missile ( sram ) program .

the contract for the sram program , which formed a significant portion of our work at the redlands facility , had special contractual indemnities from the u.s .

air force , as authorized by public law 85-804 .

on august 31 , 2004 , the united states denied the claim .

our appeal of that decision is pending with the armed services board of contract appeals .

on august 28 , 2003 , the department of justice ( the doj ) filed complaints in partial intervention in two lawsuits filed under the qui tam provisions of the civil false claims act in the united states district court for the western district of kentucky , united states ex rel .

natural resources defense council , et al v .

lockheed martin corporation , et al , and united states ex rel .

lockheed martin energy systems , inc. , et al .

the doj alleges that we committed violations of the resource conservation and recovery act at the paducah gaseous diffusion plant by not properly handling , storing .

Question: what was the percentage change in the rental expense under operating leases from 2004 to 2005

Answer: 0.01887


marathon oil corporation notes to consolidated financial statements of the $ 446 million present value of net minimum capital lease payments , $ 53 million was related to obligations assumed by united states steel under the financial matters agreement .

operating lease rental expense was : ( in millions ) 2009 2008 2007 minimum rental ( a ) $ 238 $ 245 $ 209 .

( a ) excludes $ 3 million , $ 5 million and $ 8 million paid by united states steel in 2009 , 2008 and 2007 on assumed leases .

commitments and contingencies we are the subject of , or party to , a number of pending or threatened legal actions , contingencies and commitments involving a variety of matters , including laws and regulations relating to the environment .

certain of these matters are discussed below .

the ultimate resolution of these contingencies could , individually or in the aggregate , be material to our consolidated financial statements .

however , management believes that we will remain a viable and competitive enterprise even though it is possible that these contingencies could be resolved unfavorably .

environmental matters 2013 we are subject to federal , state , local and foreign laws and regulations relating to the environment .

these laws generally provide for control of pollutants released into the environment and require responsible parties to undertake remediation of hazardous waste disposal sites .

penalties may be imposed for noncompliance .

at december 31 , 2009 and 2008 , accrued liabilities for remediation totaled $ 116 million and $ 111 million .

it is not presently possible to estimate the ultimate amount of all remediation costs that might be incurred or the penalties that may be imposed .

receivables for recoverable costs from certain states , under programs to assist companies in clean-up efforts related to underground storage tanks at retail marketing outlets , were $ 59 and $ 60 million at december 31 , 2009 and 2008 .

legal cases 2013 we , along with other refining companies , settled a number of lawsuits pertaining to methyl tertiary-butyl ether ( 201cmtbe 201d ) in 2008 .

presently , we are a defendant , along with other refining companies , in 27 cases arising in four states alleging damages for mtbe contamination .

like the cases that we settled in 2008 , 12 of the remaining cases are consolidated in a multi-district litigation ( 201cmdl 201d ) in the southern district of new york for pretrial proceedings .

the other 15 cases are in new york state courts ( nassau and suffolk counties ) .

plaintiffs in 26 of the 27 cases allege damages to water supply wells from contamination of groundwater by mtbe , similar to the damages claimed in the cases settled in 2008 .

in the remaining case , the new jersey department of environmental protection is seeking the cost of remediating mtbe contamination and natural resources damages allegedly resulting from contamination of groundwater by mtbe .

we are vigorously defending these cases .

we have engaged in settlement discussions related to the majority of these cases .

we do not expect our share of liability for these cases to significantly impact our consolidated results of operations , financial position or cash flows .

we voluntarily discontinued producing mtbe in 2002 .

we are currently a party to one qui tam case , which alleges that marathon and other defendants violated the false claims act with respect to the reporting and payment of royalties on natural gas and natural gas liquids for federal and indian leases .

a qui tam action is an action in which the relator files suit on behalf of himself as well as the federal government .

marathon has reached a settlement with the relator and the doj which will be finalized after the indian tribes review and approve the settlement terms .

such settlement is not expected to significantly impact our consolidated results of operations , financial position or cash flows .

guarantees 2013 we have provided certain guarantees , direct and indirect , of the indebtedness of other companies .

under the terms of most of these guarantee arrangements , we would be required to perform should the guaranteed party fail to fulfill its obligations under the specified arrangements .

in addition to these financial guarantees , we also have various performance guarantees related to specific agreements. .

1	( in millions )	2009	2008	2007

2	minimum rental ( a )	$ 238	$ 245	$ 209

3	contingent rental	19	22	33

4	net rental expense	$ 257	$ 267	$ 242

Question: by how much did contingent rental liability decrease from 2007 to 2009?

Answer: -0.42424


note 8 2014 benefit plans the company has defined benefit pension plans covering certain employees in the united states and certain international locations .

postretirement healthcare and life insurance benefits provided to qualifying domestic retirees as well as other postretirement benefit plans in international countries are not material .

the measurement date used for the company 2019s employee benefit plans is september 30 .

effective january 1 , 2018 , the legacy u.s .

pension plan was frozen to limit the participation of employees who are hired or re-hired by the company , or who transfer employment to the company , on or after january 1 , net pension cost for the years ended september 30 included the following components: .

net pension cost included in the preceding table that is attributable to international plans $ 34 $ 43 $ 35 the amounts provided above for amortization of prior service credit and amortization of loss represent the reclassifications of prior service credits and net actuarial losses that were recognized in accumulated other comprehensive income ( loss ) in prior periods .

the settlement losses recorded in 2018 and 2016 primarily included lump sum benefit payments associated with the company 2019s u.s .

the company recognizes pension settlements when payments from the supplemental plan exceed the sum of service and interest cost components of net periodic pension cost associated with this plan for the fiscal year. .

1	( millions of dollars )	pension plans 2018	pension plans 2017	pension plans 2016

2	service cost	$ 136	$ 110	$ 81

3	interest cost	90	61	72

4	expected return on plan assets	-154 ( 154 )	-112 ( 112 )	-109 ( 109 )

5	amortization of prior service credit	-13 ( 13 )	-14 ( 14 )	-15 ( 15 )

6	amortization of loss	78	92	77

7	settlements	2	2014	7

8	net pension cost	$ 137	$ 138	$ 113

9	net pension cost included in the preceding table that is attributable to international plans	$ 34	$ 43	$ 35

Question: what was the average pension service cost from 2016 to 2018 in millions

Answer: 109.0


debt the tables below summarize our outstanding debt at 30 september 2016 and 2015 : total debt .

the weighted average interest rate of short-term borrowings outstanding at 30 september 2016 and 2015 was 1.1% ( 1.1 % ) and .8% ( .8 % ) , respectively .

cash paid for interest , net of amounts capitalized , was $ 121.1 in 2016 , $ 97.5 in 2015 , and $ 132.4 in 2014. .

1	30 september	2016	2015

2	short-term borrowings	$ 935.8	$ 1494.3

3	current portion of long-term debt	371.3	435.6

4	long-term debt	4918.1	3949.1

5	total debt	$ 6225.2	$ 5879.0

6	short-term borrowings

7	30 september	2016	2015

8	bank obligations	$ 133.1	$ 234.3

9	commercial paper	802.7	1260.0

10	total short-term borrowings	$ 935.8	$ 1494.3

Question: considering the years 2014-2016 , what was the average cash paid for interest?

Answer: 117.0


the future minimum lease commitments under these leases at december 31 , 2010 are as follows ( in thousands ) : years ending december 31: .

rental expense for operating leases was approximately $ 66.9 million , $ 57.2 million and $ 49.0 million during the years ended december 31 , 2010 , 2009 and 2008 , respectively .

in connection with the acquisitions of several businesses , we entered into agreements with several sellers of those businesses , some of whom became stockholders as a result of those acquisitions , for the lease of certain properties used in our operations .

typical lease terms under these agreements include an initial term of five years , with three to five five-year renewal options and purchase options at various times throughout the lease periods .

we also maintain the right of first refusal concerning the sale of the leased property .

lease payments to an employee who became an officer of the company after the acquisition of his business were approximately $ 1.0 million , $ 0.9 million and $ 0.9 million during each of the years ended december 31 , 2010 , 2009 and 2008 , respectively .

we guarantee the residual values of the majority of our truck and equipment operating leases .

the residual values decline over the lease terms to a defined percentage of original cost .

in the event the lessor does not realize the residual value when a piece of equipment is sold , we would be responsible for a portion of the shortfall .

similarly , if the lessor realizes more than the residual value when a piece of equipment is sold , we would be paid the amount realized over the residual value .

had we terminated all of our operating leases subject to these guarantees at december 31 , 2010 , the guaranteed residual value would have totaled approximately $ 31.4 million .

we have not recorded a liability for the guaranteed residual value of equipment under operating leases as the recovery on disposition of the equipment under the leases is expected to approximate the guaranteed residual value .

litigation and related contingencies in december 2005 and may 2008 , ford global technologies , llc filed complaints with the international trade commission against us and others alleging that certain aftermarket parts imported into the u.s .

the parties settled these matters in april 2009 pursuant to a settlement arrangement that expires in september 2011 .

pursuant to the settlement , we ( and our designees ) became the sole distributor in the u.s .

of aftermarket automotive parts that correspond to ford collision parts that are covered by a u.s .

we have paid ford an upfront fee for these rights and will pay a royalty for each such part we sell .

the amortization of the upfront fee and the royalty expenses are reflected in cost of goods sold on the accompanying consolidated statements of income .

we also have certain other contingencies resulting from litigation , claims and other commitments and are subject to a variety of environmental and pollution control laws and regulations incident to the ordinary course of business .

we currently expect that the resolution of such contingencies will not materially affect our financial position , results of operations or cash flows. .

Question: what was the percentage change in rental expense for operating leases from 2008 to 2009?

Answer: 0.16735


rental expense for operating leases was approximately $ 66.9 million , $ 57.2 million and $ 49.0 million during the years ended december 31 , 2010 , 2009 and 2008 , respectively .

in connection with the acquisitions of several businesses , we entered into agreements with several sellers of those businesses , some of whom became stockholders as a result of those acquisitions , for the lease of certain properties used in our operations .

typical lease terms under these agreements include an initial term of five years , with three to five five-year renewal options and purchase options at various times throughout the lease periods .

we also maintain the right of first refusal concerning the sale of the leased property .

lease payments to an employee who became an officer of the company after the acquisition of his business were approximately $ 1.0 million , $ 0.9 million and $ 0.9 million during each of the years ended december 31 , 2010 , 2009 and 2008 , respectively .

we guarantee the residual values of the majority of our truck and equipment operating leases .

the residual values decline over the lease terms to a defined percentage of original cost .

in the event the lessor does not realize the residual value when a piece of equipment is sold , we would be responsible for a portion of the shortfall .

similarly , if the lessor realizes more than the residual value when a piece of equipment is sold , we would be paid the amount realized over the residual value .

had we terminated all of our operating leases subject to these guarantees at december 31 , 2010 , the guaranteed residual value would have totaled approximately $ 31.4 million .

we have not recorded a liability for the guaranteed residual value of equipment under operating leases as the recovery on disposition of the equipment under the leases is expected to approximate the guaranteed residual value .

litigation and related contingencies in december 2005 and may 2008 , ford global technologies , llc filed complaints with the international trade commission against us and others alleging that certain aftermarket parts imported into the u.s .

the parties settled these matters in april 2009 pursuant to a settlement arrangement that expires in september 2011 .

pursuant to the settlement , we ( and our designees ) became the sole distributor in the u.s .

of aftermarket automotive parts that correspond to ford collision parts that are covered by a u.s .

we have paid ford an upfront fee for these rights and will pay a royalty for each such part we sell .

the amortization of the upfront fee and the royalty expenses are reflected in cost of goods sold on the accompanying consolidated statements of income .

we also have certain other contingencies resulting from litigation , claims and other commitments and are subject to a variety of environmental and pollution control laws and regulations incident to the ordinary course of business .

we currently expect that the resolution of such contingencies will not materially affect our financial position , results of operations or cash flows. .

Question: what was the percentage change in rental expense for operating leases from 2009 to 2010?

Answer: 0.16958


management 2019s discussion and analysis of financial condition and results of operations our management 2019s discussion and analysis of financial condition and results of operations ( md&a ) is provided in addition to the accompanying consolidated financial statements and notes to assist readers in understanding our results of operations , financial condition , and cash flows .

md&a is organized as follows : 2022 overview .

discussion of our business and overall analysis of financial and other highlights affecting the company in order to provide context for the remainder of md&a .

accounting estimates that we believe are most important to understanding the assumptions and judgments incorporated in our reported financial results and forecasts .

an analysis of our financial results comparing 2013 to 2012 and comparing 2012 to 2022 liquidity and capital resources .

an analysis of changes in our balance sheets and cash flows , and discussion of our financial condition and potential sources of liquidity .

2022 fair value of financial instruments .

discussion of the methodologies used in the valuation of our financial instruments .

2022 contractual obligations and off-balance-sheet arrangements .

overview of contractual obligations , contingent liabilities , commitments , and off-balance-sheet arrangements outstanding as of december 28 , 2013 , including expected payment schedule .

the various sections of this md&a contain a number of forward-looking statements that involve a number of risks and uncertainties .

words such as 201canticipates , 201d 201cexpects , 201d 201cintends , 201d 201cplans , 201d 201cbelieves , 201d 201cseeks , 201d 201cestimates , 201d 201ccontinues , 201d 201cmay , 201d 201cwill , 201d 201cshould , 201d and variations of such words and similar expressions are intended to identify such forward-looking statements .

in addition , any statements that refer to projections of our future financial performance , our anticipated growth and trends in our businesses , uncertain events or assumptions , and other characterizations of future events or circumstances are forward-looking statements .

such statements are based on our current expectations and could be affected by the uncertainties and risk factors described throughout this filing and particularly in 201crisk factors 201d in part i , item 1a of this form 10-k .

our actual results may differ materially , and these forward-looking statements do not reflect the potential impact of any divestitures , mergers , acquisitions , or other business combinations that had not been completed as of february 14 , 2014 .

overview our results of operations for each period were as follows: .

revenue for 2013 was down 1% ( 1 % ) from 2012 .

pccg experienced lower platform unit sales in the first half of the year , but saw offsetting growth in the back half as the pc market began to show signs of stabilization .

dcg continued to benefit from the build out of internet cloud computing and the strength of our product portfolio resulting in increased platform volumes for dcg for the year .

higher factory start-up costs for our next-generation 14nm process technology led to a decrease in gross margin compared to 2012 .

in response to the current business environment and to better align resources , management approved several restructuring actions including targeted workforce reductions as well as the exit of certain businesses and facilities .

these actions resulted in restructuring and asset impairment charges of $ 240 million for 2013 .

Question: what was the percentage change in diluted earnings per common share december 29 2012 and december 28 2013?

Answer: -0.11268


middleton's reported cigars shipment volume for 2012 decreased 0.7% ( 0.7 % ) due primarily to changes in trade inventories , partially offset by volume growth as a result of retail share gains .

in the cigarette category , marlboro's 2012 retail share performance continued to benefit from the brand-building initiatives supporting marlboro's new architecture .

marlboro's retail share for 2012 increased 0.6 share points versus 2011 to 42.6% ( 42.6 % ) .

in january 2013 , pm usa expanded distribution of marlboro southern cut nationally .

marlboro southern cut is part of the marlboro gold family .

pm usa's 2012 retail share increased 0.8 share points versus 2011 , reflecting retail share gains by marlboro and by l&m in discount .

these gains were partially offset by share losses on other portfolio brands .

in the machine-made large cigars category , black & mild's retail share for 2012 increased 0.5 share points .

the brand benefited from new untipped cigarillo varieties that were introduced in 2011 , black & mild seasonal offerings and the 2012 third-quarter introduction of black & mild jazz untipped cigarillos into select geographies .

in december 2012 , middleton announced plans to launch nationally black & mild jazz cigars in both plastic tip and wood tip in the first quarter of 2013 .

the following discussion compares smokeable products segment results for the year ended december 31 , 2011 with the year ended december 31 , 2010 .

net revenues , which include excise taxes billed to customers , decreased $ 221 million ( 1.0% ( 1.0 % ) ) due to lower shipment volume ( $ 1051 million ) , partially offset by higher net pricing ( $ 830 million ) , which includes higher promotional investments .

operating companies income increased $ 119 million ( 2.1% ( 2.1 % ) ) , due primarily to higher net pricing ( $ 831 million ) , which includes higher promotional investments , marketing , administration , and research savings reflecting cost reduction initiatives ( $ 198 million ) and 2010 implementation costs related to the closure of the cabarrus , north carolina manufacturing facility ( $ 75 million ) , partially offset by lower volume ( $ 527 million ) , higher asset impairment and exit costs due primarily to the 2011 cost reduction program ( $ 158 million ) , higher per unit settlement charges ( $ 120 million ) , higher charges related to tobacco and health judgments ( $ 87 million ) and higher fda user fees ( $ 73 million ) .

for 2011 , total smokeable products shipment volume decreased 4.0% ( 4.0 % ) versus 2010 .

pm usa's reported domestic cigarettes shipment volume declined 4.0% ( 4.0 % ) versus 2010 due primarily to retail share losses and one less shipping day , partially offset by changes in trade inventories .

after adjusting for changes in trade inventories and one less shipping day , pm usa's 2011 domestic cigarette shipment volume was estimated to be down approximately 4% ( 4 % ) versus 2010 .

pm usa believes that total cigarette category volume for 2011 decreased approximately 3.5% ( 3.5 % ) versus 2010 , when adjusted primarily for changes in trade inventories and one less shipping day .

pm usa's total premium brands ( marlboro and other premium brands ) shipment volume decreased 4.3% ( 4.3 % ) .

marlboro's shipment volume decreased 3.8% ( 3.8 % ) versus 2010 .

in the discount brands , pm usa's shipment volume decreased 0.9% ( 0.9 % ) .

pm usa's shipments of premium cigarettes accounted for 93.7% ( 93.7 % ) of its reported domestic cigarettes shipment volume for 2011 , down from 93.9% ( 93.9 % ) in 2010 .

middleton's 2011 reported cigars shipment volume was unchanged versus 2010 .

for 2011 , pm usa's retail share of the cigarette category declined 0.8 share points to 49.0% ( 49.0 % ) due primarily to retail share losses on marlboro .

marlboro's 2011 retail share decreased 0.6 share points .

in 2010 , marlboro delivered record full-year retail share results that were achieved at lower margin levels .

middleton retained a leading share of the tipped cigarillo segment of the machine-made large cigars category , with a retail share of approximately 84% ( 84 % ) in 2011 .

for 2011 , middleton's retail share of the cigar category increased 0.3 share points to 29.7% ( 29.7 % ) versus 2010 .

black & mild's 2011 retail share increased 0.5 share points , as the brand benefited from new product introductions .

during the fourth quarter of 2011 , middleton broadened its untipped cigarillo portfolio with new aroma wrap 2122 foil pouch packaging that accompanied the national introduction of black & mild wine .

this new fourth- quarter packaging roll-out also included black & mild sweets and classic varieties .

during the second quarter of 2011 , middleton entered into a contract manufacturing arrangement to source the production of a portion of its cigars overseas .

middleton entered into this arrangement to access additional production capacity in an uncertain competitive environment and an excise tax environment that potentially benefits imported large cigars over those manufactured domestically .

smokeless products segment the smokeless products segment's operating companies income grew during 2012 driven by higher pricing , copenhagen and skoal's combined volume and retail share performance and effective cost management .

the following table summarizes smokeless products segment shipment volume performance : shipment volume for the years ended december 31 .

volume includes cans and packs sold , as well as promotional units , but excludes international volume , which is not material to the smokeless products segment .

other includes certain usstc and pm usa smokeless products .

new types of smokeless products , as well as new packaging configurations .

Question: what are the higher charges related to tobacco and health judgments as a percentage of the operating companies income increase?

Answer: 0.73109


middleton's reported cigars shipment volume for 2012 decreased 0.7% ( 0.7 % ) due primarily to changes in trade inventories , partially offset by volume growth as a result of retail share gains .

in the cigarette category , marlboro's 2012 retail share performance continued to benefit from the brand-building initiatives supporting marlboro's new architecture .

marlboro's retail share for 2012 increased 0.6 share points versus 2011 to 42.6% ( 42.6 % ) .

in january 2013 , pm usa expanded distribution of marlboro southern cut nationally .

marlboro southern cut is part of the marlboro gold family .

pm usa's 2012 retail share increased 0.8 share points versus 2011 , reflecting retail share gains by marlboro and by l&m in discount .

these gains were partially offset by share losses on other portfolio brands .

in the machine-made large cigars category , black & mild's retail share for 2012 increased 0.5 share points .

the brand benefited from new untipped cigarillo varieties that were introduced in 2011 , black & mild seasonal offerings and the 2012 third-quarter introduction of black & mild jazz untipped cigarillos into select geographies .

in december 2012 , middleton announced plans to launch nationally black & mild jazz cigars in both plastic tip and wood tip in the first quarter of 2013 .

the following discussion compares smokeable products segment results for the year ended december 31 , 2011 with the year ended december 31 , 2010 .

net revenues , which include excise taxes billed to customers , decreased $ 221 million ( 1.0% ( 1.0 % ) ) due to lower shipment volume ( $ 1051 million ) , partially offset by higher net pricing ( $ 830 million ) , which includes higher promotional investments .

operating companies income increased $ 119 million ( 2.1% ( 2.1 % ) ) , due primarily to higher net pricing ( $ 831 million ) , which includes higher promotional investments , marketing , administration , and research savings reflecting cost reduction initiatives ( $ 198 million ) and 2010 implementation costs related to the closure of the cabarrus , north carolina manufacturing facility ( $ 75 million ) , partially offset by lower volume ( $ 527 million ) , higher asset impairment and exit costs due primarily to the 2011 cost reduction program ( $ 158 million ) , higher per unit settlement charges ( $ 120 million ) , higher charges related to tobacco and health judgments ( $ 87 million ) and higher fda user fees ( $ 73 million ) .

for 2011 , total smokeable products shipment volume decreased 4.0% ( 4.0 % ) versus 2010 .

pm usa's reported domestic cigarettes shipment volume declined 4.0% ( 4.0 % ) versus 2010 due primarily to retail share losses and one less shipping day , partially offset by changes in trade inventories .

after adjusting for changes in trade inventories and one less shipping day , pm usa's 2011 domestic cigarette shipment volume was estimated to be down approximately 4% ( 4 % ) versus 2010 .

pm usa believes that total cigarette category volume for 2011 decreased approximately 3.5% ( 3.5 % ) versus 2010 , when adjusted primarily for changes in trade inventories and one less shipping day .

pm usa's total premium brands ( marlboro and other premium brands ) shipment volume decreased 4.3% ( 4.3 % ) .

marlboro's shipment volume decreased 3.8% ( 3.8 % ) versus 2010 .

in the discount brands , pm usa's shipment volume decreased 0.9% ( 0.9 % ) .

pm usa's shipments of premium cigarettes accounted for 93.7% ( 93.7 % ) of its reported domestic cigarettes shipment volume for 2011 , down from 93.9% ( 93.9 % ) in 2010 .

middleton's 2011 reported cigars shipment volume was unchanged versus 2010 .

for 2011 , pm usa's retail share of the cigarette category declined 0.8 share points to 49.0% ( 49.0 % ) due primarily to retail share losses on marlboro .

marlboro's 2011 retail share decreased 0.6 share points .

in 2010 , marlboro delivered record full-year retail share results that were achieved at lower margin levels .

middleton retained a leading share of the tipped cigarillo segment of the machine-made large cigars category , with a retail share of approximately 84% ( 84 % ) in 2011 .

for 2011 , middleton's retail share of the cigar category increased 0.3 share points to 29.7% ( 29.7 % ) versus 2010 .

black & mild's 2011 retail share increased 0.5 share points , as the brand benefited from new product introductions .

during the fourth quarter of 2011 , middleton broadened its untipped cigarillo portfolio with new aroma wrap 2122 foil pouch packaging that accompanied the national introduction of black & mild wine .

this new fourth- quarter packaging roll-out also included black & mild sweets and classic varieties .

during the second quarter of 2011 , middleton entered into a contract manufacturing arrangement to source the production of a portion of its cigars overseas .

middleton entered into this arrangement to access additional production capacity in an uncertain competitive environment and an excise tax environment that potentially benefits imported large cigars over those manufactured domestically .

smokeless products segment the smokeless products segment's operating companies income grew during 2012 driven by higher pricing , copenhagen and skoal's combined volume and retail share performance and effective cost management .

the following table summarizes smokeless products segment shipment volume performance : shipment volume for the years ended december 31 .

Question: what are the cost reduction initiatives as a percentage of the operating companies income increase?

Answer: 1.66387